CoinEx Detail CET Repurchase System and Burn

CoinEx Detail CET Repurchase System and Burn

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CoinEx will be repurchasing their native CET tokens before burning them and have outlined a new system for doing so.

‘Tis the season to be burning and like many other exchange platforms with native tokens, CoinEx are going to be burning a significant number of CET. As has long always been the case with CET, the platform acquires the tokens they burn by repurchasing them from holders of the token. The way they plan to do so in this burn though will be different from previous burns.

CoinEx explained after the activation of the new repurchase system by stating they will repurchase “CET in the secondary market with 50% of its daily profits from transaction fees everyday and burn them at the end of each quarter.” This is the main change to the system from the old one but it is not the only change and they have noted that they will also make the information regarding the burn more accessible.

Namely, this means they will be listing details such as the circulating supply, circulating market value, and daily repurchase quantity in a bid to increase transparency. You can learn more about this on their website and also invest in CET ahead of the next burn.

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