What is FLEX Coin?
CoinFLEX (FLEX) is a revolutionary cryptocurrency exchange platform that offers seamless trading experience to its users. The platform is powered by Flex Coin, a cryptocurrency that offers exclusive benefits to its users, which improve the overall trading experience on CoinFLEX. The FLEX Coin plays a crucial role in the successful operation of the platform, as it provides various incentives and benefits to its users.
One of the key features of the FLEX Coin is that it is awarded to traders each day based on their total volume of Takers. Takers are evaluated against an order, and when an order removes liquidity from an order book by trading against another existing order, the platform qualifies that order as a taker. In such cases, the user receives FLEX based on the number of coins issued by the team on that day, multiplied by the amount of taker volume on that day, divided by the total amount of Qualifying Volume on the platform.
FLEX coin holders can retain 50 percent on trading fees if they use FLEX coins. Moreover, the Coins can also be used for staking on the exchange, which offers lower trading fees and other benefits. This feature is beneficial for traders who are looking to maximize their profits while trading on CoinFLEX.
CoinFLEX has an upcoming Lending/Basis for the trading product, where they reserve 10 million FLEX Coins for lenders. Anyone who actively deploys funds in the lending product earns FLEX Coins every day for the first twelve months following its launch. In general, FLEX Coins are distributed based on the amount each user has deployed out of the overall total funds deployed via the product. This feature is designed to provide an additional revenue stream for users who are looking to earn more from their cryptocurrency investments.
The FLEX Coin is also used to contribute to the insurance fund, where CoinFLEX reserves ten million FLEX Coins. If liquidation is not successful, the FLEX Coins reserved for the insurance fund can be used and spent to prevent users from losing funds. This feature ensures that users are protected against potential losses and can trade with confidence on the platform.
In addition, ten million FLEX coins were also issued over the first two years for marketing and referral purposes in addition to Trade-Driven Mining. This feature is designed to promote the platform and attract more users, which will ultimately benefit the existing users as well.
Besides these utility features, FLEX coins are also used to reward trading contests, new customer/affiliate rewards, and other incentives to grow the user base. This feature is designed to keep users engaged and motivated to trade on CoinFLEX.
Each day, CoinFLEX burns 20 percent of company profits to acquire and burn FLEX Coins until it has spent five hundred million dollars (equivalent) on acquiring and burning FLEX Coins. The process of burning crypto means permanently removing tokens from circulation. This feature is designed to maintain the value of the FLEX Coin and ensure that it remains a valuable asset for its holders.
In conclusion, CoinFLEX (FLEX) is a cryptocurrency exchange platform that offers a unique and innovative trading experience to its users. The platform is powered by Flex Coin, which provides various incentives and benefits to its users. The FLEX Coin plays a crucial role in the successful operation of the platform, and its features ensure a smooth operating structure on the exchange while providing users with a trading platform and medium that can benefit them. The platform was launched in 2019 by co-founder Sudhu Arumugam and founder and CEO Mark Lamb, with a total supply of one hundred million FLEX tokens
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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