- May 2021
- by CetTrust team
Long-Term CET Repurchase and Burning Plan
Dear CoinEx users,
Based on the Disclosure of CET Circulation and Future Applications, we will repurchase and burn CET every day with 50% of our transaction fee income, and burn all the CET repurchased quarterly at the end of each quarter, until the total supply of CET reduces to 3 billion. Currently, the total amount of CET is 4.618 billion. According to users’ feedback and after careful consideration, when the “3 billion” target achieved, we will continue to use 20% of our fee income for CET repurchase and burning until CET is completely burned.
CET (CoinEx Token) is a value-added service and privilege scheme based on CoinEx ecosystem and is applicable to various scenarios. The applications of CET include but not limited to:
1. Long-term repurchase and burning
CoinEx will automatically repurchase and burn CET every day with 50% of its transaction fee income, and burn all the CET repurchased quarterly at the end of each quarter, until the total supply of CET reduces to 3 billion. When the “3 billion” target achieved, CoinEx will continue to use 20% of its fee income for CET repurchase and burning until CET is completely burned.
2. Deducted as transaction fee
CET can be deducted directly with the same market value as transaction fee at a dedicated discount.
3. VIP services
Users with a certain amount of CET can become VIP to experience services such as fee discount, withdrawal acceleration, exclusive customer service, etc.
4. Promotional campaign privileges
CET holders will enjoy special privileges for promotional campaigns on CoinEx, including token airdrop incentives, voting for token listing, quality project investment opportunities, etc.
5. Built-in token on CoinEx Chain
CET is the built-in token on CoinEx Chain to pay for “gas”. CoinEx Chain is a decentralized and highly effective public chain dedicated for DeFi.
CoinEx reserves the right of final interpretation of this announcement.
March 12, 2021