Nowadays, exchange tokens are not a novelty. Over a year ago, Binance came out with BNB, its own ERC-20 token, which can be used to vote for new listings and receive discounts when paying trading fees. Consequently, many other exchanges embraced this idea, which proved to benefit all stakeholders.
As new crypto exchanges crowd the playfield, most are trying to set themselves apart from their peers. And here we have Catex, with its feature of the “transaction fee mining” model, promising 105% transaction fees reimbursement for traders in the form of Catex’s CATT token.
What Exactly Is Transaction Fee Mining?
Before getting into details on the Catex, it is crucial to learn more about Transaction Fee Mining.
With a conventional cryptocurrency exchange, a maker and taker fee is levied on each side of the trade. The taker’s fee is typically higher, averaging 0.5-0.75%, while the maker (the person selling the asset, and thus providing liquidity) might pay closer to 0.25%. Ordinarily, this fee is deducted at the point of the trade being executed. It’s normally collected by the exchange in the form of ETH or BTC, or BNB if trading on Binance. Transaction fee mining exchanges take a markedly different approach.
Transaction fees are the primary way by which exchanges make their money. Trans-fee mining exchanges flip that model by handing all of the fees back to traders in the form of a native token. In fact, during promotional periods – typically when launching the exchange – these platforms might even offer a rebate of greater than 100%. In other words, traders are technically profiting, in the form of native tokens, for each trade they made. It sounds too good to be true, and like all things that fall under this banner, it is. But first, let’s consider the upside to trans-fee mining.
Catex: A mining solution cryptocurrency exchange
The China-based Catex exchange was established in 2018. Catex is a transaction mining exchange platform. It provides the users with the ability to trade (buy/sell) cryptocurrencies between them using the available market pairs. The platform offers a hybrid solution where it is possible to perform crypto transactions and mine the platform tokens (CATT) at the same time, which will be used to return the transaction fees to the users.
Catex aims to provide solution to the existing cryptocurrency mining problem. Today’s estimates suggest that mining operations are now consuming as much or more electricity than the entire nation of Denmark. While it’s not enough energy consumption to cause a global catastrophe, it is quickly becoming a serious problem.
Catex has embarked upon a rather promising solution, called Trade Mining a.k.a Transaction Fee Mining. It established to reward active users for trading on selected markets with their Ethereum-based purposeful token, CATT. Catex will handing all of the fees back to traders in the form of CATT native token. The market makers get the CATT in direct proportion to their traded volume on a daily basis.
The purpose of Catex's native tokens
DIVIDENDS
Catex offers 80% of its day by day commission to holders of CATT native token. This is uncommon component that can be seen in different trades, as in, holders of the task's token is are being remunerated for holding their token. This constantly will go far expanding the cost of the token, and keeps it from dumps.
BUYBACK
Catex Exchange has a buyback account to support CATT price. The buyback account is fed by dividen pool and voting.
LOYALTY PROGRAM
Catex 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 CATT balance. The loyalty payments share will be proportionally distributed to all CATT token holders every day.
VOTING
Catex has a voting system. It cost only 10 CATT, and the first 2 voted coin are listed weekly.
Trade Mining on Catex exchange
To put it briefly, when trading on selected markets, market makers get the platform’s native tokens CATT in direct proportion to their traded volume on a daily basis. In other words, through trade mining on Catex, active users get to turn the expenses, associated with trading activities, into cost-cutting, gainful opportunities.
Every day the exchange issues CATT native to distribute among users, trading on selected crypto markets. Catex tokens are being rewarded in direct proportion with the daily trading volume of each trade mining participant every 24 hours at 00:00 UTC.
The CATT amount can be mine per user per hour will be determined by the amount of CATT holding. The formula is: (CATT Holding) * (Mining ratio) , where the Mining ratio is dynamically adjusted by the platform everyday, for example todays ratio is 0.1, and the user holding 10000CATT, then The amount of he can mine per hour is 10000 * 0.1 = 1000 CATT. In order, to enjoy daily dividends the min CATT holdings is 200. Dividends are calculated once a day and arrive the next day.
For more details visit:
Webite: https://www.catex.io
Facebook: https://www.facebook.com/officialCat.ex
Telegram: https://t.me/catex_group
Twitter: https://twitter.com/catexofficial
Discord: https://discord.gg/7USsyjK
Support: support@catex.io
Reddit: https://www.reddit.com/r/Cat.ex
Bitcointalk: https://bitcointalk.org/index.php?topic=5099776.0
Author:
Forum Username: Tpq01349
Forum Profile link: https://bitcointalk.org/index.php?action=profile;u=1972940
Wallet address : 0xA73fA2565C18218AC6510c8CD3B220F5794f3B84
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