CoinEX exchange introduces Trade-driven Mining feature, is that the future of crypto mining?

CET Token

From 0:00 July 1st, 2018 (UTC), CoinEx will adopt a “Trade-driven Mining” method to release 3.6 billion CET for free allocation to CoinEx users. We will calculate 100% of our transaction fee income into CET against the real-time rate and give them away to all traders proportionately to their trading volume.

Rules:
1. Qualification:

1) For ID verified accounts ONLY;

2) Transactions that use CET as fees are excluded in trade-driven mining.
2. Duration: EST. 180 days in total with an EST. daily yield of 20 MILLION CET.
3. Difficulty: The upper limit of CET for hourly mining yield per account. To balance daily CET yield, CoinEx will readjust “mining difficulty” at 0:00 (UTC) every day based on earnings and difficulty of the last day. The initial mining difficulty is 50,000 i.e. the upper limit of hourly mining yield for an account on the first day is 50,000.  API is available to access current difficulty.
4. Payout: Calculated and allocated at every o’clock against the real-time CET price.
5. CoinEx reserves the rights of final explanation of readjusting rules of Trade-driven Mining.

Dividend Distribution
As the official value-added token, CET represents exclusive services and privileges on CoinEx. During Trade-driven Mining, starting from 0:00 July 1st, 2018 (UTC), CoinEx will allocate 80% of our daily transaction fee income (including all coin types) to ALL CET holders proportionately.
Rules:
1. Qualification: Min. holding of 100 CET.
2. Distribution: CoinEx will allocate our daily transaction fee income (including all coin types) to ALL CET holders proportionately (i.e. Your CET balance/Total CET). For instance: If our daily transaction fee incomes include BCH, BTC, CET and USDT, you will receive 80% of these incomes in BCH, BTC, CET and USDT proportionately. Attention: You will receive 0 dividend when the amount is below 0.00000001.
3. Calculation: Every o’clock from 1:00 to 24:00 (UTC), we will take an hourly snapshot of your CET balance and allocate 80% of transaction fee income of the last hour to ALL CET holders on the snapshot. These dividends will accumulate on an hourly basis.
4. Allocation: Your daily dividend will be sent to your account at 00:00 (UTC) of the next day.
5. Duration: From 00:00 July 1st, 2018 (UTC) to the end of “Trade-driven Mining”.
6. CoinEx reserves the rights of final explanation of readjusting rules of Dividend Distribution.

 

Referral

You can also invite friends with your referral link to sign up and win their transaction fees as reward. During Trade-driven Mining, the referral reward ratio will be adjusted to 20%.

 

API trading fees
During Trade-driven Mining, Maker fee ratio for API traders will be adjusted to 0.1% and Taker fee ratio remains 0.1%.

 

Value of CET

1. Share daily transaction.
2. Used as Transaction fees.
3. Repurchase Plan.
4. Special promotional campaign rights such as FREE new coins to CET balances.
5. Voting rights for new token listing free of charge.

 

About CoinEx Token (CET): https://www.coinex.com/token

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