CoinFLEX are to Introduce Native Token to Futures Exchange
By Tyler Smith – Cryptocurrency Investor
Reportedly the first physically delivered cryptocurrency future exchange, CoinFLEX incorporated in the Seychelles, is to introduce a native token named the FLEX Coin. The token will be used to encourage liquidity to the exchange and reward members that buy and sell crypto futures.
A set amount of FLEX is paid out to the traders depending on the percentage of volume they trade as a taker, comparative to the daily trading volumes on the exchange. CoinFLEX encourage using the token for discounted trading fees. This means a trader can use FLEX and receive 50% off the previous 24 hours of fees. By encouraging participation with the FLEX coin, the exchange is hoping to create a dynamic trading community for buying and selling crypto futures.
CoinFLEX believe that ‘the development of a robust digital currency futures market is critical to the long-term sustainability of the asset class’. This is a financial instrument that is derived off the back of another asset and will further legitimise cryptocurrency and potentially induce more to buy and sell Bitcoin.
The exchange is hoping to reach market demand and deliver a global, scalable and secure crypto futures exchange. CoinFLEX are reportedly to launch the first stablecoin-to-stablecoin futures contract to hedge exposure with zero index or settlement risk. The company has an agenda to build on the Asian retail trading market, commercial hedging, OTC desks, mining firms and proprietary trading firms for the development of the industry and increase crypto selling and buying.
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