CET: The Powerhouse Fueling CoinEx's Growth and Innovation

CoinEx is one of the pioneer cryptocurrency exchanges, with over 10 million users from all around the world. It has a native token known as CET, which plays a major role in developing and upgrading the CoinEx exchange.

CET plays an important role in enhancing the overall growth of the CoinEx exchange. CoinEx has taken significant steps for its users and platform with the CET  burning strategy. This also enhances CET's overall reputation in the crypto market.

With a commitment to security, transparency, and growth, CoinEx, through CET, is bridging the gap between traditional finance and the evolving world of cryptocurrency, providing users with new opportunities to engage, transact, and prosper in the digital economy.

Let’s check out more in this article.

The importance of CET within the CoinEx ecosystem

CET, a native token of the leading cryptocurrency exchange CoinEx. It is an Ethereum ERC-20 token that was launched with an initial supply of 10 billion in 2018. It was then migrated to the CoinEx Smart Chain mainnet in 2021. In 2021, the exchange took a massive step by burning over 1.2 billion CET tokens.

CET plays a crucial role in expanding the user value-added services. The token holders can experience VIP services and other advantages, such as trading fee discounts, fast withdrawals, participation in staking, and dedicated customer service. The growth and foundation of the CoinEx exchange are directly linked with the CET token. Therefore, the infrastructure and user enhancement on the exchange boost CET's overall performance.

Moreover, ViaBTC, one of the most reputable Bitcoin mining companies, supports CoinEx and safeguards exchange reliability. The CET token also plays an important role in CoinEx's products. Products such as CET staking, CoinEx Dock, CoinEx Loan, and CoinEx financial account have a major role in increasing the CET token usage and its overall growth.

How does CET token work?

CET works on a burning and repurchasing mechanism. It operates on the CoinEx Smart chain, functioning as both a governance token and a key enabler for decentralized applications (dApps). It increases the blockchain's overall utility, driving the growth of a diverse and dynamic ecosystem of applications and services.

CoinEx exchange buybacks CET tokens for burning at the end of the month from 20% income from trading fees. At the time of writing, there is over 2 billion circulating supply of CET tokens on CoinEx with a burn proportion of 71.79% (over 7 billion tokens burned out of 10B). 3 million plus tokens are about to be burned. The platform has repurchased 8 million plus tokens in the last 30 days for burning.

The main goal of this burning mechanism is to reach a circulating supply of zero. The reason behind this burning of retrieved tokens is to maintain the transparency of CET. This also helps to ensure the deflationary nature of CET tokens. In addition, this helps the token gain positive momentum in the long term and provides users with lucrative profits.

Staking and cold storage ensure CET's security

CET employs a comprehensive approach to security, offering multiple layers of protection to ensure the safety and integrity of user assets. Staking plays a pivotal role in this security framework, allowing users to contribute to network defense against potential attacks. The staking process is supported by wallets and extensions, which add an extra level of security.

Additionally, CET’s security is technically fortified through robust systems like cold storage and private key encryption. This allows users to store their CET tokens in a secure environment, accessible via multi-signature or secure private keys.

Advantages of CET token

Here are some key advantages of the CET token:

• Burning Mechanism: The burning mechanism implemented by CoinEx ensures the token's long-term growth, benefiting users in generating good profits.
• Liquidity Enhancement: CET provides liquidity for trading pairs on the CoinEx exchange, supporting a more dynamic and efficient market.
• Dedicated Community Support: It has community incentives and experts who are always available for the users. CET token has a relationship with its supporters within the CoinEx eco-system.
• Leverage Discounts: The holders of CET tokens can benefit from trading fee discounts. This makes the platform cost-effective.
• Platform Utility: CET tokens can be leveraged by the users for a variety of functions within the CoinEx ecosystem, such as participating in promotions, voting, and accessing premium services.

Conclusion

In a nutshell, the CET token is building a strong foundation for the CoinEx ecosystem. It provides a lot of benefits for the users and helps them trade different assets with trading fee discounts. The burning mechanism for CET is benefiting users for long-term profits and making CoinEx a unique cryptocurrency exchange.

About CoinEx

Established in 2017, CoinEx is a global cryptocurrency exchange committed to making trading easier. The platform provides a range of services,including spot and futures trading, margin trading, swap, automated market maker (AMM), and financial management services for over 10 million users across 200+ countries and regions.Since its establishment, CoinEx has steadfastly adhered to a "user-first" service principle. With the sincere intention of nurturing an equitable, respectful and secure crypto trading environment, CoinEx enables individuals with varying levels of experience to effortlessly access the world of cryptocurrency by offering easy-to-use products.

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