Victoria, Seychelles, CoinEx Token (CET), launched in January 2018, stands as the cornerstone of the CoinEx Chain - a pioneering public chain that went live in November 2019. Designed to foster a community-governed decentralized trading system, CoinEx Chain's ambitious vision includes a trio of public chains: the DEX Chain for seamless trading, the Smart Chain for robust smart contracts, and the Privacy Chain ensuring user confidentiality. CET's multifaceted utility spans from discounted trading fees to staking rewards, making it an integral asset for active participants and investors alike. With its compelling use case and a commitment to decentralization, CoinEx Token sets the stage for the next era in blockchain innovation.

Introduction to CoinEx Token (CET)

Issued in January 2018, CoinEx Token (CET) is the native asset of CoinEx Chain. CoinEx Chain is a public chain that launched its mainnet in November 2019. CoinEx Chain aims to create a decentralized trading system (CoinEx DEX) that is governed by the community. It aims to develop an ecosystem with three public chains: (1) DEX Chain, (2) Smart Chain, and (3) Privacy Chain. These three chains focus on trading, smart contracts, and privacy respectively to create a decentralized public chain ecosystem.

Purpose and Utility of CoinEx Token

The CoinEx Token (CET) serves multiple purposes within the CoinEx ecosystem:

1. Discount on Transaction Fees: CET holders can use their tokens to pay for trading fees on the CoinEx platform, enjoying exclusive rate discounts.
2. VIP Services: Users holding a certain amount of CET can become VIP customers, gaining privileges such as rate discounts, accelerated withdrawals, exclusive activities, and dedicated customer service.
3. Exclusive Activity Rights: CET holders have special rights and interests in platform marketing activities, including participating in token airdrops, voting for token listings, and accessing high-quality project investment opportunities.
4. Gas for CoinEx Smart Chain (CSC): CET serves as the built-in circulation token and gas for the CoinEx Smart Chain, which supports smart contracts.
5. External Circulation Scenarios: CoinEx aims to promote the use of CET in external scenarios, such as payments, expanding its circulation beyond the CoinEx ecosystem.

The CET token aims to solve the problem of complexity and inefficiency in crypto trading by bringing the familiar brokerage model from Web2 to the Web3 ecosystem. Additionally, CET is used as the gas token on the CoinEx Smart Chain (CSC), a high-performance public chain created by CoinEx, which contributes to the reduction of selling pressure on CET and its price growth.

Tokenomics and Distribution Model

The tokenomics of CoinEx Token (CET) are based on a total supply of 10 billion tokens, with a unique distribution strategy. Initially, 70% of the tokens were distributed, while the remaining 30% were reserved for future development and ecosystem growth.

Current Market Data

• Current Price: $0.0391
• Market Cap: $27,698,449.72
• 24h Price Change: 0.30%
• 7d Price Change: 21.42%
• 30d Price Change: 23.49%
• 24h High: $0.0397
• 24h Low: $0.0383
• All-Time High: $0.1459 (2021-05-12)
• All-Time Low: $0.0038 (2018-12-07)
• Circulating Supply: 708,633,582.21
• Total Supply: 4,200,000,000.00

Distribution Model

The token distribution model of CoinEx Token includes several components:

1. Airdrop Incentives: CET tokens were initially distributed through airdrop incentives to attract users and build a community around the token.
2. Trading Fee Discounts: CET tokens can be used to receive discounts on trading fees on the CoinEx platform.
3. Promotions: CET tokens are used in various promotions and marketing campaigns to incentivize user engagement and adoption.
4. Team Unlocking: A portion of the total supply is reserved for the CoinEx team and will be unlocked over time as the project progresses.
5. Repurchase and Burning: CoinEx repurchases and burns CET tokens every day with 20% of the trading fee income, and burns all the CET repurchased monthly at the end of each month. This mechanism reduces the total token supply over time, which can have a positive impact on the token's value.

Mechanisms to Control Inflation

The CoinEx Token (CET) operates on a deflationary model, which means that its supply decreases over time. This is achieved through a deflationary fee mechanism, where a certain percentage of the token is deducted automatically during on-chain transactions, reducing the total supply. The deducted tokens are then distributed to existing holders or added to liquidity, encouraging users to hold the token in their wallets and watch it grow.

CoinEx repurchases and burns CET every day with 50% of its trading fee income, further reducing the token's supply. This deflationary mechanism helps manage inflation and maintain the token's value.

In addition to the deflationary model, CET also has a staking mechanism. Users can stake their CET to receive rewards, which incentivizes block validation and reduces marketable supply, acting as a deflationary force.

Team Behind CoinEx Token

The CoinEx Token (CET) is a value-added services and privileges scheme based on CoinEx's business ecosystem. The team behind CET is part of the CoinEx Ecosystem, which consists of members from global leading Internet and financial enterprises, including many of the earliest practitioners and investors in the cryptocurrency industry. This demonstrates their technological expertise and commitment to shaping the Web3 landscape.

Core Team Members

Although specific names and detailed backgrounds of the core team members are not provided in the sources, it is clear that they have a strong background in the blockchain and cryptocurrency industry, as well as in leading Internet and financial enterprises. This combination of expertise and experience positions them well to create a fair environment where every user is valued, as stated in CoinEx's commitment to user experience.

Notable Advisors, Partners, and Investors

As for notable advisors, partners, or investors, there is no information available in the search results regarding CET. The focus of the search results is more on the technical aspects and usage of CET within the CoinEx ecosystem.

Track Record and Vision Execution

CoinEx, the company behind CET, was founded by Haipo Yang, an early Bitcoin investor and a young entrepreneur, in December 2017. Despite the crypto market being at its height, most crypto trading platforms didn’t do well due to limited liquidity, slow transaction speed, and poor user experience. To address these challenges and open up more possibilities for asset issuance and value discovery in the crypto space, Haipo Yang decided to join the race of crypto exchanges.

CoinEx quickly gained recognition in the crypto community by developing the world’s first