In pursuit of new ways to ensure high-yielding opportunities for today’s cryptocurrency traders, the CODEX exchange has embarked upon a rather promising solution, called Trade Mining.
Also known as Transaction Fee Mining, it is pretty much an unworn approach to the platform’s native token distribution, established to reward active users for trading on selected markets with their very own EOS-based purposeful token, CDX.
A fully licensed cryptocurrencies exchange
CODEX is a seemingly potent platform that has got what it takes to pan out in the modern crypto space. But more importantly, it is driven with the desire to reinvent crypto exchange experience by making it incomparably effortless yet gainful in spite of the market volatility or business objectives that come along.
The purpose of CODEX’s native tokens
Before getting into details on the CODEX trade mining initiative, it is crucial to learn more about CDX native token.
Trading Fee Discount.
Whenever traders choose the option of paying their fees with CDX, they get a substantial discount. 1st year: 50%, 2nd year: 25%, 3rd year: 12.5%, 4th year: 6.75%, 5th year: no discount.
Trade Mining Multiplier.
CDX token holders only get a unique possibility to have their trade volumes increased by the multiplier based on the number of CODEX tokens on their account. Meaning that the more CDX tokens traders have on their balance, the higher mining reward they get.
CODEX Loyalty program is aimed at rewarding users simply for trading on the exchange. To become a member of the Loyalty Program user must have at least 1 daily trade and CDX balance. The loyalty payments share will be proportionally distributed to all CDX token holders every day.
Trading As An Altcoin.
This option allows crypto traders to buy, sell and trade CDX in exchange for other eminent digital assets on the Codex platform.
for the later use on Codex Cryptocurrency Exchange as the CDX token value grows with time.
Trade Mining on CODEX exchange
To put it briefly, when trading on selected markets, market makers get the platform’s native tokens CDX in direct proportion to their traded volume on a daily basis. In other words, through trade mining on CODEX, active users get to turn the expenses, associated with trading activities, into cost-cutting, gainful opportunities.
Every day the exchange issues 1,000,000 CDX to distribute among users, trading on selected crypto markets. CODEX tokens are being rewarded in direct proportion with the daily trading volume of each trade mining participant every 24 hours at 00:00 UTC. A specially designed system allows to increase trade volumes by a relevant multiplier and, ultimately, enlarging the share of tokens a trade mining participant gets to receive.
Total supply will make up 2,000,000,000 CDX. 49% is supposed to be spent on the platform’s needs and the other 51% is left for trade mining with the vesting period of 1 year.