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
Anyone who owns FLEX coins can get a 50% reduction on trading fees if they opt to pay with FLEX. These fees will be rebated once a day, simultaneously debiting FLEX from any account that has opted in.
The total supply of FLEX is capped at 100 million coins, issued over two years.
|Year||Trade Driven Mining||Lenders/Basis||Marketing||Insurance|
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|