Crypto Trading in 2019: CODEX Exchange Introduced Trade Mining
We at CODEX exchange believe that even during the bear market getting profits is possible. Find out what is the Trade Mining and how can you earn more while trading with us.
Striving to ensure today’s crypto community with incomparably effortless yet gainful trading experience, we have provided quite a worthwhile opportunity within the platform. In fact, just recently we have introduced the Affiliate Program to reward our community for bringing in new users to the platform.
Today we are happy to present a radically new way to benefit from trading on the CODEX exchange. Trade Mining is a novelty not only within our platform but in the entire crypto space.
The Purpose of Trade Mining
It is a fresh, nonpareil approach to utterly profitable cryptocurrency trading on the CODEX exchange. The ultimate goal of Trade Mining is to enable our users to profit from trading on selected markets by rewarding them with the platform’s native token CDX in direct proportion to their daily trading volume. In other words, we are offering you a way to compensate minor spendings on trading fees with multi-purpose EOS-based CDX tokens.
What’s important, in addition to providing an undeniably lucrative way of trading digital assets on the platform, trade mining serves as the only mean of CDX emission, hence the term “mining”.
How It Works
Every day we issue 1,000,000 CDX to reward traders for trading on selected crypto markets. We will certainly be adding new ones in the future but as for today they are:
- BTC Market: ETH, LTC, TRX, XTZ, BEAM, GRIN, TLOS, CDX, BOS.
- ETH Market: LTC, XTZ, EOS, BEAM, CDX.
- USDT Market: BTC, ETH, LTC, TRX, GRIN, CDX.
- EOS Market: TLOS, BOS, CDX.
They are being distributed accordingly with the daily trading volume of each trade mining participant once every 24 hours at 00:00 UTC directly to his/her CODEX account.
In total, there will be 2,000,000,000 CDX issued. 49% is meant to be used for the platform’s needs, while 51% is allocated for trade mining. The vesting period is determined to be 1 year. You can check the smart-contract here: https://eostracker.io/accounts/eoscodexcoin
What You Should Know About Trade Mining on CODEX
It is important to keep in mind that while choosing to pay trading fees in CDX can ensure platform users with a discount, the trades they have paid for this way will not be taken into account when determining rewards for trade mining.
At the same time, holding CODEX tokens allows boosting the reward for trade mining. We have come up with the system that increases trade volumes by the multiplier, connected to the number of CDX on one’s account, thereby raising the share of tokens distributed among trade mining participants.
Multiplier & CDX Tokens Balance
- 1 for < = 10,000 CDX
- 1.2 for 10,000–100,000 CDX
- 1.4 for 100,000–500,000 CDX
- 1.6 for 500,000–1,00,000 CDX
- 1.8 for 1,000,000–2,000,000 CDX
- 2.0 for > = 2,000,000 CDX
Ways To Use CODEX Token
In case you are yet not familiar with the benefits, the CODEX token provides, here is the rundown on its main uses.
Trading Fee Discount.
Whenever traders choose the option of paying their fees with CDX, they get a substantial discount:
- 50% in the 1st year;
- 25% in the 2nd year;
- 12.5% in the 3rd year;
- 6.75% in the 4th year;
- No discount starting from the 5th year.
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.
Imagine receiving loyalty payments in various cryptocurrencies? 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.
Users can simply HODL CDX token for the later use on CODEX exchange as the CDX token value grows with time.