CoinEx CEO Haipo Yang on Strategy, New Features and Crypto Prospects: AMA Recap

Haipo Yang, CEO of CoinEx, answered questions from the community and discussed with the AMA hosts the key principles of his business. He also shared his views on the role of his background in CoinEx's journey and outlined some potential prospects for CET token.

Haipo Yang indicates his priorities in crypto

Yang stressed that his strategy in crypto is associated with his engineering background. It drives his methodical, user-centric and problem-solving mindset. With cryptocurrencies deeply built on computer technology, a notable programming expertise helps him better comprehend industry trends.

Having survived multiple cryptocurrency cycles, Yang offers his key "takeaways" below.

First, is its user-centricity, as users taught entrepreneurs the importance of putting their needs and preferences first. By listening to their feedback and understanding their pain points, services can develop features and services tailored to their specific requirements.

Also, the "security first" principle is an essential one for crypto. Users emphasized the criticality of safety in trading and storing digital assets. Their concerns and experiences motivated exchanges to make robust security measures a top priority, adopt advanced cryptography and implement industry best practices to safeguard their assets.

Innovation and adaptability are required for building a successful crypto exchange:

Users showed us that the crypto market is dynamic and constantly evolving. Their changing needs and expectations drive us to continually innovate and adapt to industry shifts. By staying ahead and releasing new capabilities, we can provide users with an advanced trading experience.

Last but not least, focusing on transparency and communication is a must for modern crypto services. Users stressed the importance of transparent communication as they want clear, timely information on platform updates, new listings and potential risks. This insight led CoinEx to establish open communication channels, provide regular updates and maintain transparency in its operations.

What is CoinEx CEO's biggest achievement?

Speaking about his most significant accomplishment, Yang recalled building a highly cohesive and united team that supports CoinEx products and services.

Throughout ViaWallet's history, CoinEx has been cultivating the wallet business for nearly five years, accumulating extensive experience in the wallet field.

Yang hopes to further connect users to the ever-evolving Web3 world through CoinEx Wallet, offering a wide variety of applications and empowering ecosystem users with more opportunities. In this process, he and his team will continuously improve the core technology stack, delivering high-quality products and seamless Web3 functionality to fully unleash decentralized finance's potential.

Users can also achieve diversified asset management in CoinEx wallet, truly enjoying the efficiency, security and convenience of a true Web3 wallet.

CET token: One asset, multiple use cases

Amid questions from the community, the most interesting ones addresses CoinEx Token (CET) and its role in the exchange's tokenomic design.

Since its launch, CET has been distributed in various channels, including airdrops, trading fee rebates, operational promotions and team unlocks. CoinEx also uses 20% of the platform's daily fee income to repurchase CET and burns all the CET repurchased each month. Through this repurchase and burn mechanism, the total supply of CET is reduced, achieving deflation and enhancing the stability and value of CET.

The CET token serves as a user value-added service equity system within the CoinEx ecosystem, introduced in January 2018. It has several use cases, such as fee discounts, VIP benefits, special events offers and so on. Also not unlike BNB, CET serves as the native token of the CoinEx Smart Chain and is used as gas on the chain.

While CET trading pairs are not currently planned for listing on other platforms, aside from circulating within the CoinEx ecosystem, CoinEx aims to promote the use and circulation of CET in more external scenarios, such as retail ad B2B payments.