Cobidex is the first community-owned bitcoin derivatives exchanges offering maximum benefits to its traders by focusing its services on incentives. In doing so, Cobidex introduces a wide range of reward programs that traders will unlock over the course of time. Cobidex will commence its journey as a centralized exchange for bitcoin perpetual contracts to provide maximum liquidity and minimum counterparty risks.
Eventually, it would transition into a completely community-owned platform. This will allow users to govern and receive shares of the exchange’s entire profits. For the time being, traders on Cobidex will enjoy the liquidity reliance that a centralized exchange promises. At the same time, the exchange ensures its users enjoy the democratized principles of a decentralized exchange.
Cobidex Puts Traders First on the Priority List
Traders on Cobidex have several opportunities to earn its native ERC-20 token, Cobi. Rewards are accumulated through several programs including Trade Mining, Liquidity Mining, and Referral Mining. Here’s how these programs will work:
- Trade Mining: Cobidex rewards its traders with Cobi tokens simply for using the platform, thereby converting trading costs to investments. The reward corresponds precisely to the trading fees paid and is distributed every 24 hours.
Traders generate Cobi in line with the trading costs as per the supply of the tokens. For instance, they would generate 1 Cobi for every $0.05 paid in trading fees. To get a better picture of the ratio between rewards and trading fees, check out Cobidex’s tokenomics.
- Referral Mining: Cobidex offers a referral bonus to its traders for inviting their peers and acquaintances. Traders would unlock the referral bonus as soon as a new user registers using their link and starts trading on Cobidex. Users will earn 20% of their invitees’ trading fees in perpetuity. The referral reward will initially be paid out in Cobi. Once the token distribution period has ended, Cobidex will pay out the referral bonus in USDT.
- Liquidity Mining: By depositing BTC, USDT, ETH, and other alt-tokens, traders can earn liquidity mining interests on Cobidex in the deposited token. Additionally, an extra payout is also made in Cobi.
Cobidex aims to convert its traders into shareholders. Therefore, programs like trade mining are ways to accumulate Cobidex’s native governance token, Cobi. Using Cobidex will be synonymous with turning trading costs into an investment. Unlike on other exchanges, where fees are an accepted cost of trading, Cobidex actively rewards every trader for their activity on the exchange. This is possible as Cobidex will begin a yield distribution program in the coming days which will offer a share of the platform’s daily revenues to Cobi holders as long as they are staked.
Cobidex is Set to Optimize Crypto Derivatives Trading with USDT-margined Perpetual Contracts
Cryptocurrencies have always been volatile. So, it is quite difficult to predict when the market will turn bearish, thereby plummeting the token prices. With perpetual contracts, traders can hold on to their cryptos for as long as they wish. This is irrespective of the price movements of the assets. Therefore, a respite from spot trading comes in the forms of bitcoin derivatives, especially perpetual.
Cobidex provides access to the world’s most popular crypto USDT-margined perpetual contracts. It provides up to 125x leverage on Bitcoin and 100x leverage on altcoins. On Cobidex, funding can be quickly done through any of the 20 Spot Wallets. This includes BTC, ETH, LITE, DOGE, SUSHI, AAVE, XRP, and many others. This is a step up from bitcoin derivative exchanges that impose certain limitations on the type of cryptocurrency a user must deposit to start trading.
Conclusion
Cobidex aims to create a bitcoin derivatives exchange that weighs its achievements in correspondence to the success of its traders. The exchange boasts a well-thought-out incentive program that provides real rewards for its trading community. This makes Cobidex a unique, community-first derivatives platform.
So, are you ready to reap the rewards? Feel free to check the Cobidex community on Twitter and Telegram for more information!
