CoinEx has unveiled significant advancements in the CET tokenomics, focusing on token buybacks and burns to build a sustainable ecosystem. The largest CET burn in history occurred in March 2021, totaling 1.08 billion tokens.
Initially launched on the Ethereum ERC-20 standard in January 2018, CET transitioned to the CoinEx Smart Chain (CSC) for better integration. CET holders enjoy reduced fees, VIP status, and exclusive benefits.
CoinEx uses 20% of its daily platform fees for monthly CET buybacks, burning the repurchased tokens at month-end. As of July 18, 2024, the circulating supply stands at over 2.7 billion, showing the impact of ongoing buybacks and burns. In Q2 2024, CoinEx repurchased and burned CET tokens worth $3.16 million.
CoinEx’s strategic approach to CET tokenomics and ecosystem development enhances user engagement and supports decentralization. This long-term strategy aims to drive broader adoption and growth of the CET token.
