FLEX Coin

FLEX Coin is the trading token of CoinFLEX. $FLEX is generated via “trade mining”, which means FLEX Coins will be issued to traders based on their “Taker” volume. We qualify any volume where the order is removing liquidity from the orderbook by trading against an existing order and is considered a “Taker”. The amount of FLEX that a user is awarded is equal to the amount of coins we issue that day, multiplied by the user’s Taker volume that day, divided by the total amount of Qualifying Volume on the platform*. Qualifying Volume includes volumes in XBT/USDT Futures.

*Daily Rate x (User’s Taker Volume / Qualifying Platform Volume) = Number of Coins issued to User for the day

Traders can spend 100 FLEX to cut their trading fees in half. After redeeming 100 FLEX, which is then burnt and removed from circulation, that user’s trading fees are reduced by 50% for a 24 hour period, strictly measured from noon UTC to noon UTC.

Reduced trading fees via burning FLEX come in the form of a rebate paid back to your account in whichever asset the use paid fees in. See staking stucture

Supply

The total supply of FLEX is capped at 100 million coins, issued over two years.

Yearly Issuance

Year
Trade Driven Mining
Lenders/Basis

Marketing

Insurance

1

55,000,000

10,000,000

5,000,000

10,000,000

2

15,000,000

5,000,000

Issuance Rate Changes

Months
Trade Driven Mining
Issued Per Day

1-3 (first 90 days)

7,000,000

233,333

4-6 (day 91-181)

5,000,000

166,666

7-9 (day 182-272)

4,000,000

133,333

10-12 (day 273-365)

2,333,370

77,779

13-24 (day 366-730)

1,232,880

41,096