CET cryptocurrency is the dark horse in the field of crypto-currency exchanges…Here’s what distinguishes it from its peers
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Answer CET cryptocurrency is the dark horse in the field of crypto-currency exchanges…Here’s what distinguishes it from its peers
Public blockchain ecosystems experienced massive growth in 2021.
As the world of blockchain and crypto flourished, so did the digital currencies of public networks.
For example, the digital currency SOL managed to register many new numbers and records.
In 2021, the digital currency CET recorded a strong performance while competing with its competitors.
With its superior track record, CET has become one of the most viewed public network tokens among crypto investors in the latter half of 2021.
According to the CoinEx website, $5.78 million from CET was burned during October 2021 and $440,000 worth on October 28 alone.
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The massive buyback and burn volume, as well as the astounding price growth, has put CET on the radar of cryptocurrency investors.
The CoinEx Token (CET) was released in January 2018 based on the ERC-20 standard, and is a value-added service and franchise system based on the CoinEx business ecosystem.
CET has now been migrated to its own independently built CoinEx Smart Chain (CSC) blockchain as its gas.
In this sense, CET acts as a digital token based on the CoinEx platform, in addition to the CSC public string token.
Several factors could explain the intense recognition that CET has gained amidst the fierce competition among other digital tokens during 2021.
This article will focus on the birth and development of CET.
Born on CoinEx and migrated to the CSC Blockchain:
CET was created by CoinEx, a world-famous cryptocurrency trading platform founded in December 2017 that aims to facilitate the trading of cryptocurrencies.
CoinEx now offers cryptocurrency trading services that include spot trading, futures, margin trading, AMM, mining and financial services.
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In 2018, CET was released based on ERC-20.
After the CSC mainnet went live in 2021, CET was migrated to CSC and implemented in multiple scenarios for the CoinEx ecosystem.
As the first trading platform to offer daily repurchases of platform-based cryptocurrencies, CoinEx is creating the best “burn” record ever.
The initial offer of CET is 10 billion coins.
Since its release, CET has been issued and popularized in various ways, including airdrop incentives, transaction fee discounts, promotions, etc.
In particular, 1.8 billion CET has been distributed to the CoinEx team (to be released gradually over 5 years) to build the team and expand the market.
In March 2021, the CoinEx team decided to simultaneously burn the remaining 1.08 billion unsecured CET, allowing the digital token to enter full circulation.
It also represents the largest platform-based digital token burn in the history of cryptocurrency.
According to CET Apps, CoinEx will buy back CET every day at 50% of the transaction fee income and burn all CET repurchased at the end of each calendar month until the total supply of CET drops to 3 billion coins.
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In the next phase, the platform will continue to spend 20% of its fee income on CET buybacks and burning until the entire CET is burned.
Notably, CoinEx is the first trading platform to offer daily buybacks and burn digital tokens on the platform.
According to data on CET trading, repurchases and burning, as of April 13, 2022, the total supply of CET was about 3.6 billion.
CET digital currency and support for more use cases:
Currently, the core values of CET mainly cover the following:
- Discount on trading fees:
When users trade on CoinEx, CET can be directly debited with the same market value of the trading fee as the custom discounts. - VIP services and privileges:
Users with a certain amount of CET can get VIP membership and enjoy perks such as fee discount, raffle speed up, exclusive events, exclusive customer service… - Exclusive promotional privileges:
CET holders are entitled to receive special qualifications for promotions on CoinEx such as Airdrop Incentive Participation/Investment Opportunities, Outstanding Projects, etc. - Participation in the CSC ecosystem:
CSC is based on the PoS consensus protocol, which makes it decentralized and energy efficient. CET is used as built-in token in CSC and acts as “gas” in CSC, and users can build their own DApps very easily. - More use cases:
CoinEx plans to extend CET’s application to more scenarios, such as payments.
The value of CET is clearly not limited to the CoinEx ecosystem.
Along with the advancement of blockchain technology and the expansion of the crypto market, CET, which was initially deducted as a trading fee, introduced more functionality and use cases after the launch of CSC.
So far, the digital token covers a wide range of application scenarios, including fee deduction, buyback and burn, public networks, DEX trading platforms, and DApp, and more use cases will be introduced in the future.
Additionally, backed by strong market resources and funding from the CoinEx ecosystem, CET’s coverage will continue to expand.
As a black horse in the public network digital token sector, CET is expected to show better performance in 2022.
Official links to the platform coinex On social networks:
The official website of the platform:
– Facebook:
https://www.facebook.com/CoinExMENA
Telegram:
Telegram news channel:
– Twitter:
Instagram:
Medium:
Tik Tok:
– The YouTube:
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