CoinExPrice

(CET)

CoinEx Token, often referred by its ticker CET, is the native utility token and a core component of the CoinEx ecosystem. Launched in January 2018, the token was originally established on the Ethereum network as an ERC-20 asset but has since migrated to become the native fuel for the CoinEx Smart Chain, which is the projects own proprietary Layer 1 blockchain. The primary role of the token is to facilitate various operations and provide value-added services within the CoinEx exchange and its associated products. One of its most common uses is for trading fee discounts. Users who hold the token can choose to pay their transaction fees with it to receive a reduction in costs. Furthermore, the token acts as the basis for the platforms VIP membership system. By holding specific amounts of the token, users can unlock different tiers of VIP status, which provide benefits such as faster withdrawal processing, specialized customer support, and exclusive access to promotional events and airdrops. Beyond the exchange, the token serves as the essential gas for the CoinEx Smart Chain. This blockchain is a decentralized, energy-efficient platform that is compatible with the Ethereum Virtual Machine, allowing developers to build and deploy decentralized applications. In this network, the token is used to pay for smart contract executions and transaction fees. It also functions as a governance token, allowing holders to participate in the decision-making process for the ecosystem by voting on various proposals and technical upgrades. The project employs a deflationary model to manage the token supply. This is achieved through a consistent repurchase and burn mechanism. Every day, the platform allocates a portion of its income from transaction fees to buy back tokens from the market. These repurchased tokens are then permanently removed from circulation on a monthly basis. This process is intended to reduce the total supply over time and is a central feature of the projects long-term economic strategy. The broader ecosystem supported by the token includes the CoinEx Wallet, a multi-chain decentralized storage solution, and the CoinEx Explorer for tracking on-chain data. The project emphasizes a user-first approach, aiming to provide a comprehensive and secure environment for various blockchain activities, including asset management and decentralized finance. By integrating the token deeply into all these services, the project ensures it remains the foundational medium for value exchange and community participation across its entire suite of Web3 products. Learn more

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