CoinEx To Host Conference to Promote CoinEx Chain

CoinEx To Host Conference to Promote CoinEx Chain

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CoinEx are branching out operations to include a public chain known as CoinEx Chain. To help promote this new system, the platform will be hosting a launch conference.

Known as the CoinEx Chain Global Nodes Election, the event will host financial and technical experts, KOLs, investors, top medias and institutions, who will be there to discuss the “technical value of public chain and jointly promote the development of blockchain innovation”. The purpose of the conference is to raise awareness of this new CoinEx Chain and further the technological developments of the system.

The CoinEx Chain

The whitepaper for the CoinEx Chain was released back in June but is yet to have had a formal launch. Although a testnet faucet and guide are up and running for users to try out the system and see how the system functions.  Built with the purpose in build to support a decentralised exchange (DEX), it is said to have integrity at its heart, with community-driven operations, transparent trading rules, and self-controlled user assets, as part of the service.

The DEX will also provide support for smart contracts, via a smart chain, and protect user’s privacy, via a privacy chain. The platform has said that as a result, the “CoinEx Chain will become a perfect ecosystem powered by the parallel public chains architecture.”

CoinEx Chain Roadshow

This first CoinEx Chain Global Nodes Election will take place in Shenzhen on the 16th of this month. A roadshow will then be conducted around China in cities such as Shanghai, Wuzhen, Beijing, Singapore and Hong Kong.

The roadshow will have a joint purpose. It will both showcase the technical innovations of the CoinEx Chain to blockchain practitioners, as well as serve as a recruitment drive for node partners the world over. As mentioned, this should serve the purpose to raise the new service’s profile, while also helping it advance technically also.

CoinEx Native Coin Burn

In other CoinEx news, the platform yesterday confirmed that a burn of their native token, CET, was conducted on the platform earlier this week. The process saw a whopping 8,826,233.64 CET repurchased and then burnt on this day.

This will be added to the total amount of CET tokens that have been repurchased up to 131,150,963,02 CET. 4,131,150,963.02 CET of these have been subsequently burnt by the exchange, with more to follow. This latest burn has brought the total number of CET tokens down to 5,868,849,036.97. However, the platform has plans for further burns in the future as they attempt to reduce the total amount down to 3 Billion CET.

CoinEx will now resume a plan of CET repurchasing and burning on a quarterly basis, which will be made up for 50% of the trans fee revenue accumulated during that respective quarter. Once the desired 3 million mark has been achieved. Following this, the process of repurchasing and burning will be suspended.

Burns, Baby, Burns

Of course, as head into the last quarter of 2019, the burning of tokens is very much on the agenda of many exchange platforms who offer native tokens. Many of which promise quarterly burns to their token holders in order to maintain price stability of the token.

Yesterday, we reported news from another exchange platform, ChangeNOW, who also conducted a significant burn of 90166.1338 NOW tokens at the end of last week. If you are a holder of any exchange platforms native coins, then you may want to inspect whether or not a burn has been carried out on the ones you own. Of course, we will keep you posted if we get word of this happening elsewhere.

In the meantime, head over the CoinEx to learn about the upcoming CoinEx Chain and the subsequent DEX that should follow its launch.

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