COSS exchange volume is an important metric to follow. Volume on any exchange is important as the higher it is, the more visible the exchange is and the higher potential the exchange has to earn a profit from fees.
The volume on COSS exchange is even more important than other exchanges due to the 50% fee split allocation (FSA) that it pays out on a weekly (soon to be daily) basis to COSS token holders.
High exchange volume on COSS means a greater fee share for holders of the COSS token. Because of this, keeping track of the volume on COSS is a good way for COSS holders to measure their investment’s performance.
Exchange volume data is typically compared by 24hr volume. The rate at which different sites measure the volume can vary greatly, so every method of measuring volume will give you a different result. Below are some of the best ways to measure COSS exchange volume.
Measure the Volume Manually
The most accurate way of measuring the volume is to do it yourself. The various methods below aren’t always up-to-date as it can take some time for new coins to be included in volume counts.
For example, COSS fee token (CFT) is not included in the volume count by coinmarketcap because of their requirement for a coin to be listed on two exchanges before it will appear on their site.
To measure the volume manually, you will need to be on a desktop or laptop PC. Then follow these steps below:
Manually measuring COSS exchange volume
Head to the COSS exchange
Visit the COSS exchange page and click the pair dropdown to show all pairs. Make sure you are on the ‘ALL‘ tab to show all coin volumes.
Copy the volume data
Starting from the name of the first pair, highlight all the pairs with volume (as shown above). Copy this selection to the clipboard (Ctrl-C).
Open Excel or another spreadsheet program
With your spreadsheet program open, paste the data in (Ctrl-V).
Find the sum of the volume column
In Excel, you can quickly find the sum by selecting the whole column. The sum will show in the bottom toolbar. You can also use the ‘Autosum’ feature by clicking the cell beneath the final entry and then selecting all the cells that have volume data.
The sum will be the total exchange volume. This value is in the currency you have selected in your COSS settings (default: USD). If you have selected anything other than USD, you will need to convert the value if you want to compare the volume to other sites which report volumes in USD.
Coinmarketcap is the most well established coin/exchange rankings website. However, it does not include volumes from coins such as CFT and CELT. When compared to the manual volume recording, it reported a +0.4% difference in 24hr volume.
Bitgur is a good alternative to checking COSS exchange volume as it reports the volume on the CFT pairs. However, the site is notorious for being slow to load exchange data. Sometimes refusing to serve exchange data at all. When compared to the manual volume recording, Bitgur was +2.8% higher.
Coingecko is a lesser used alternative to Bitgur and Coinmarketcap. Its redeeming factor is that it has better exchange stats and previous volume data can be viewed at a wider range of resolutions. When compared to the manual volume data, it under reported at -0.3%.
The Community Made, Real-time Alternative
If you’re looking for a simple way to see the exchange volume in real time, look no further than Coss Volume. This site has one job and it does it well. It displays real-time 24hr volume data for the COSS exchange using the COSS API.
Sometimes, when new pairs are added or changed, the site may take a while to update. This can cause the price to freeze. But it makes a good screensaver on a second screen for COSS holders. Fun-fact, this website is on display at COSS headquarters.
If you’re looking for an all-in-one solution, where you can track volume, keep tabs on price, calculate potential earnings and follow official news channels, visit COSS-FSA.
This is another well-made community made site with the primary function of letting you calculate the potential earnings of the FSA
Volume on this site can be seen on the dashboard. It gives 24 hour, 7 day average and 7 day total volumes for the COSS exchange.
COSS.io is now paying out the 50% fee split allocation (FSA) on a daily basis. Previously, the FSA had been paid to users every Monday, but it will now be distributed every weekday.
The Fee Split Allocation (FSA) is the 50% share of all exchange fees distributed to COSS token holders. The distribution is performed by an automated script that typically completes around 16:00 Singapore time. This script calculates what fees taken from the exchange should be paid to COSS token holders, depending on the number of tokens held and the total number of COSS tokens included in the snapshot.
Although the move to daily FSA was announced in the previous medium. Today’s FSA came as a surprise, without additional announcement. Today’s distribution was quickly reported in the COSS Telegram group, where a number of users confirmed they had also received an additional FSA distribution for today. Your FSA wallet on COSS.io now has the new heading ‘Your Estimated Daily FSA (USD)’.
New Daily FSA Structure
The FSA will only be distributed on weekdays, so Saturday and Sunday’s fee split will be included in Monday’s FSA. This means a larger FSA on a Monday.
The estimated dollar values are now shown for the day, so they will display less than what we have grown used too. For example, 10,000 COSS today earned FSA worth $0.42.
Saturday and Sunday will show the USD value from Friday, until Monday’s FSA takes place. As Monday will be three day’s worth of FSA, it will be around three times the value.
Is Daily FSA a Good Thing?
In the announcement post for daily FSA, I mentioned a few reasons why daily FSA will have a positive impact on the exchange. Below is a quick recap of the main points.
The estimated dollar value given on the FSA page for the distribution will be more accurate. As the majority of the FSA is paid in CFT, if the price fluctuated, the FSA estimated dollar value became inaccurate. Now that FSA is daily, this number will be up-to-date more often, so fewer people will be left puzzled when the numbers don’t add up.
No weekly dumps of COSS and CFT. With FSA being distributed every Monday, the COSS token value would fluctuate a lot after distribution. Then people would look to sell or reinvest their CFT received in the FSA, causing the price to drop. With distribution daily, this will spread this effect out over the week, minimising its impact on the prices of these tokens.
Another benefit of a daily FSA distribution is a psychological one. Something that pays out a real value, everyday, sounds more appealing to investors. There is less of an apparent risk if the FSA can be collected whenever the user desires.
FSA Update Series Will Continue
The FSA update series will still continue, but will analyse the FSA on a weekly basis. Each Monday, I will summarise the data created throughout the week from the tokens given in the FSA and use the snapshot figures that were released on the Monday.
Do You Prefer Daily FSA?
Do you think that moving to a daily FSA payout is a good idea? Do you think it’s a bad idea? Does moving to a daily payout affect how you will use the exchange? Share your ideas in the comments section below.
Average volume on the exchange for this week has decreased to 6.8 million, but the FSA has increased 54% on last week. This is interesting as it means the average fee paid on the exchange has increased. A higher average fee means that smaller traders represent a larger share of the volume compared to previous weeks.
CFT climbed to averages of $0.030 this week. Following the distribution of this week’s FSA, the price has now dropped to $0.026. This is expected as people cash out their FSA which is predominately CFT. Daily FSA is expected to begin this week, so it will be interesting to see how that impacts the buy/sell pressure of CFT.
FSA Value at Snapshot – $2.28
The value of the FSA per COSS was 0.000228131558743371, making the value $2.28 per 10,000 COSS. 115,597,613 COSS were included in the snapshot. Dollar value is only accurate at the moment of the snapshot.
At $2.28 per 10K $COSS (@ $0.077 per COSS) that’s 15% ROI. This number can fluctuate weekly, meaning ROI is a poor indicator of actual annual return on investment. For example, last week the ROI was 9%.
The average volume for the 7-day period for which this FSA was calculated was $6.8 million.
USD Value of Fee Split Allocation
Value per COSS
Value per 10K
COSS in Snapshot
Avg. 7 Day Vol.
Token Value of Fee Split Allocation
Below are the amounts of each token received in the FSA per 10,000 COSS held. The percentage change is the increase or decrease of particular tokens included in the FSA compared to the previous week.
Previous Week Per 10K COSS
Current Week Per 10K COSS
COSS Value/ 10K
COSS in Snapshot
CELT, Genesis Vision and Storj Labs Make FSA Debut
Also making its debut appearance in the FSA is the community token CELT. This token is now available exclusively on COSS through IEO only. If you don’t know about CELT, read more about this community driven liquidity token here.
If you’re thinking about buying COSS tokens, or don’t yet know what COSS even is, here are 10 reasons to convince you to buy.
1. Start Earning Passive Income
Here’s the main reason why you should buy COSS. When you own COSS, you are entitled to a share of the fees the exchange takes. All the fees collected by the exchange are split in two. 50% goes to COSS and the other 50% is shared amongst COSS holders. This is known as the fee-split allocation (FSA). The more COSS you own, the more FSA you receive.
To find out more about what you could make by holding COSS, check out the FSA Updates series to see previous FSA distributions. For a quick summary of what your COSS can earn, check out the coss-fsa.com calculator.
2. High Return on Investment Compared to Traditional Means
COSS currently pays the fee-split allocation (FSA) weekly, soon to be daily. Each week, you will receive a USD estimate of the value of your fee split. Working out the return on investment (ROI) on a weekly basis will show you that COSS returns are very high compared to traditional savings or shares.
In the world of cryptocurrency, things are volatile, so the ROI varies week to week, but it has always been good. Some weeks, the ROI has been around 10%, other weeks have reached nearly 20%.
3. A Little Known Exchange with Big Potential
COSS’s closest competitor is KuCoin, which has a similar scheme to the FSA. The KuCoin bonus pays 50% of trading fees back to KuCoin holders daily – in KuCoin Shares (KCS).
The KuCoin bonus will be lowered over time as the exchange volume increases, eventually reducing to only 15% once volume reaches $350 million. COSS on the other hand will continue to pay out 50% back to token holders regardless of volume.
Given that both tokens pay back fees to holders, it is fair to tie the volume of their respective exchanges to the price of the token. Currently, KuCoin has 4x the volume of the COSS exchange, but KCS is 16x more expensive. Even when factoring in the small difference in token supply, this means one of two things:
KCS is over valued – It’s ROI is therefore inflated due to the high price of KCS. Price of KCS could drop 4x to match COSS, making ROI a quarter of what it is now.
COSS is undervalued – Major ROI potential from FSA for traders purchasing COSS now. Price of COSS could rise 4x to match KCS.
4. Stable Price Means a Relatively Safe Investment
Nothing is ‘safe’ in the cryptocurrency world. Prices can rise and fall dramatically, coins can be stolen, accounts hacked. The price of COSS has remained stable however for almost a year now. Hovering between $0.06-0.08 from July last year, it means for investors looking to get in to COSS, there is less risk of losing money on your investment should you decide to cash out.
A stable price might be considered a bad thing in cryptocurrency, with people searching for ‘moon shots’ to make major returns on their investment. With COSS however, its stable price is mitigated by the consistent fee split paid out to users on a weekly basis.
The price won’t stay stable forever though, once people realise the high returns available by holding COSS, also see below about future plans and how they could impact price.
5. Future Plans Could Mean Big Things for this Small Exchange
COSS’s development is slow but steady. Many features have been added to the exchange with more to come in the future. Compared to the start of the bear market, the price of COSS has moved very little, but the functionality of the exchange has improved greatly.
When interest in the crypto-markets heightens once again, I have no doubt people will rediscover COSS and want to claim their share of the 50% fee split.
The known plans for the COSS exchange are definitely interesting, but also the unknown will be promising too. With such vigorous competition in the cryptocurrency exchange market, many of COSS’s future plans are kept private from prying eyes. What this could mean for COSS token holders, we will have to wait and see.
Basically, CFT allows traders to get a 25% discount of trading fees. However, because the whole fee is paid in CFT and you accumulate CFT weekly in your fee split, you can essentially trade for free.
The more COSS tokens you hold, the more CFT you earn in your fee split. Small traders will be able to trade entirely using the CFT they receive in the FSA.
7. Exposure to a Variety of Different Coins and Tokens
Something many COSS holders like about the COSS token, is that you receive your fee split allocation in the coins which fees are paid in. This means you receive a wide range of coins in your fee split. Non-ERC tokens are converted to ETH.
The potential for one of these tokens mooning is very appealing, and is something that you don’t get with competitor fee share exchanges.
8. A Vibrant and Active Community
The COSS community is mainly found on Telegram. Here you will find a helpful bunch of people who are enthusiastic about COSS and its future. Not only that, but the chat is full of real people and not filled with spam or robots.
Obviously, most coin telegram groups have an enthusiastic community, but are they as talented as the COSS community?
A Small Selection of the Best from the COSS Community
CELT – COSS exchange liquidity token. A liquidity bot powered by community donations that takes inspiration from COSS itself and pays out a share of 95% of the profits it makes.
coss-fsa.com – A well made calculator site to help you see what your COSS investment could be worth.
YouTube videos – A collection of the many YouTube videos made to promote COSS.
Open-source bots – Many free trading bots have been built to run on the COSS exchange, open sourced and shared.
Concept artwork – One of the best concept arts produced for what the exchange could look like in the future.
9. COSS is Fully Compliant with Regulations
Governments are being slow to regulate cryptocurrencies. The dated laws for traditional monetary system are yet to catch up to the still fresh realm of cryptocurrency.
Some exchanges are using this to their advantage and are loosely adhering to regulations, if at all. If any exchanges find themselves running into issues, they can just move to Malta.
One of the reasons COSS’s development has been slow and steady is due to their strict policy on fully adhering to all regulations in their country of founding – Singapore. They ensure that all tokens are suitable to be listed on the exchange under the regulation of the Monetary Authority of Singapore (MAS). All this additional work takes money and time, but when authorities start cracking down on rouge exchanges, COSS will be amongst the survivors.
10. Open and Honest Staff Members
Finally, something that is a real blessing in cryptocurrency, is that all of COSS’s staff are open and honest. You can get in touch with most of them on Telegram, where they do not hide truths and are always happy to chat. The CEO himself is often found in the Telegram chat, sharing ideas and speculating on the potential of COSS.
The fifth round of ‘Guess the Coin’ closes shortly. This competition allows COSS account holders to try and guess the next coins to be listed on COSS. The prize for getting both coins correct is 500 CFT (~$15 currently).
In my previous attempt at guessing the coins, I made up for my earlier failed attempt by getting both coins correct. Whether or not I’m right this time around as well, I guess we’ll have to wait and see! I’ve got a good feeling about this one though, keep reading to see what I think these coin may be.
10 winners will be drawn at random from all the correct entries. To enter, you will need to submit your entries via the official Google Docs form, or you can just click the button below, after you’ve read through the clues.
“A whole new world. A new decentralised point of view.”
“Need help with a DEX?”
You have until 21st April 00:00 GMT (8AM in Singapore), to send your answers in via the Google form. You must have a COSS account to be eligible to win, and the email you submit via the form should be the same as your COSS email. Winners will be notified by email, so make sure it is valid, and check your spam folder!
This week might stump those that rely on the pixelated images to figure out the coins. Members of the COSS telegram group were quick to point out that the logo on the left is actually the old logo of the disguised coin.
A Whole New World
Aside from the fact that the coin on the left was quickly identified and shared on telegram, the clue is actually quite a clever one.
The clue is clearly an homage to the ‘A whole new world’ song from the Disney animation – Aladdin. Thinking along these lines, you could eventually end up at the name of the coin. Aladdin, Disney, Disneyland, Dencentraland?
Decentraland is a virtual reality platform powered by the Ethereum blockchain. Quite literally a whole new (virtual) world. The Dencentraland marketplace is a decentralised, open market, where you can buy and sell parcels of land.
What about the logo though? Well, the Decentraland logo has been updated. See the old logo on the left and the new logo on the right below. Notice the orange and brown of the old logo look like the pixelated image in the ‘Guess the Coin’ promo image.
Need Help With a DEX?
With this clue, it seems obvious that we are looking for a coin that facilitates using a DEX or interacting with a DEX. Or perhaps, even a token that could help build a DEX.
A DEX is a decentralised exchange. A decentralised exchange does not rely on a third party to hold funds and facilitate their exchange. Instead, trades occur directly between users.
Using a custom Google search query (site:coinmarketcap.com/currencies decentralized exchange) brought up a lot of contenders. Here’s the coins of interest found from the search:
Waves – An open source decentralized blockchain platform that enables anyone to create their own internal digital currencies
win.win – A truly decentralized exchange platform and proof-of-stake blockchain network
0x – Provides the infrastructure to facilitate the creation of decentralized exchanges on the Ethereum blockchain
Dropil – A crypto-trading platform that includes DEX (decentralized exchange)
Loopring – A decentralized exchange (DEX) protocol
Waves is already listed on COSS. Win.win and Dropil are DEXs and don’t help facilitate a DEX. Basic Attention Token is about creating a decentralised ad exchange and not a DEX. This leaves 0x and Loopring, only one of these has a logo that resembles the one in the clue.
This line from the Loopring website is the final piece of evidence that it is probably the coin in question.
Your Thoughts on These Guesses?
I correctly guessed both coins last time around. This time, I’m feeling confident again about my choices. How about you? Do you agree with these guesses? Are you willing to share any evidence for other coins?
The competition closes on the 21st April, and the correct answers will be revealed shortly after. If you haven’t submitted your guesses yet, what are you waiting for! Click the button below to go straight to the official Google form document and submit your guesses. Good luck!
Binance Coin (BNB) is a well established fee-reduction token, which has gained large support alongside Binance’s success. The COSS fee token (CFT) is similar in many aspects to BNB. It too, allows traders to use it to pay fees on the COSS.io exchange and receive a discount on fees. See here for an introduction to CFT.
Comparing BNB vs. CFT
Both coins have a similar max supply and both intend to burn down the max supply to 50% of the max. CFT was issued at a similar price to BNB ($0.10 vs $0.15), however, due to the unprecedented success of the Binance exchange BNB has seen heights of $24 and continues to climb.
Token Fee Reduction Rates
CFT gives a fixed 25% discount on trading fees forever. The token is consumed when used to pay for fees. 50% of the tokens used for fees go back to COSS, the other 50% is distributed to COSS token holders in the FSA.
BNB initially gave 50% of fees in its first year, but each subsequent year the discount halves. Year 2 gives 25% discount, year 3 gives 12.5% discount, year 4 gives 6.25% discount. After 5 years, BNB will no longer offer a discount. BNB is consumed when using it to pay for fees. The token goes back to Binance.
Other Functions of the Tokens
CFT holders can participate in airdrops. Previous airdrops have included Substratum and Bitwatt. A set amount of tokens was divided amongst all CFT holders who held a minimum amount in their accounts. More features are planned for CFT, but have yet to be announced. A community voting feature is potentially coming.
BNB holders are also entitled to airdrops. Previous airdrops have included coins such as Enjin. Airdrops are distributed to the top BNB holders. Community voting has been possible for BNB holders, although no new votes have taken place since October 2018. Given the value of BNB, many places also accept it as a payment method.
In the future, Binance plans to release a DEX. The BNB token will be used to facilitate payments on the DEX once the coin moves to the Binance mainnet.
Token Burn Rates
CFT is being burned at a fixed rate of 1,000,000 CFT a month until max supply reaches 120,000,000. In 10 years time, the maximum amount of CFT will have been burned.
BNB has a different burn mechanic. Each quarter, it uses 20% of the exchange’s profits to buy back BNB and then burns these tokens. This results in a varied burn amount every three months.
Both coins have a utility purpose and in some respect their price doesn’t matter as the discount on fees they provide is relative (fixed percentage).
Traders new to COSS might be interested to learn that CFT can provide many of the same benefits as BNB, but on the COSS exchange. With COSS having the benefit of the fee split allocation (50% share of fees paid back to COSS token holders), there is an additional incentive to trade on COSS.
The CFT token is in its infancy, having begun trading at the very end of 2018. Looking at the performance of BNB is interesting as it maps out the potential future for CFT and the COSS exchange. Look at how the quarterly coin burns have helped raise BNB prices, even throughout bear markets. Although BNB benefits from additional speculation on Binance’s future, it is good to know that this token model works.
Your Thoughts on CFT
CFT is additional to the COSS token. Some members of the COSS community felt the fee reduction benefits of CFT could have been incorporated into the COSS token itself, but others disagree. The argument against this is that COSS is a passive income token and spending it on fees would not be desirable for those wanting to hold onto the token to continue receiving their FSA.
What are your thoughts on the implementation of CFT? Given how BNB has performed, do you think the CFT token can expect a similar future? Is it even fair to compare the two tokens?
For your safety, COSS tokens should only be purchased on the COSS.io exchange.
Why are there two COSS tokens?
The ERC-20 COSS token was upgraded to an ERC-223 token. Some old ERC-20 token still remain available but are now worthless.
How much can I earn from holding COSS?
The FSA varies week-by-week depending on the exchange’s volume. For a good estimate of how much your FSA could be worth, see coss-fsa.com
What coins do I receive in my FSA?
As CFT provides a generous 25% discount on trading fees, most fees are paid with CFT. This means a large percent of fees are received in CFT, which you can easily distribute and sell on COSS.io. All non-ERC tokens are converted ETH when entering the FSA.
Do I have to hold COSS tokens on the exchange to receive FSA?
No, COSS can be held in a private wallet and still receive the FSA. You will need to set up a fee split allocation identifier if you want to hold your coins in a private wallet and still receive the FSA.
What is the COSS token smart contract?
The new ERC223 COSS-token address is 0x9e96604445ec19ffed9a5e8dd7b50a29c899a10c
Are there any coins that do what COSS does?
A similar, well known coin is KuCoin Shares (KCS). However, holding KuCoin Shares only generates more KCS. Also, the fee split on KuCoin declines over time. On COSS, the fee split will always be 50%.
COSS Fee Token (CFT)
What is CFT used for?
CFT is used to pay trading fees on COSS.io. It can be bought directly on the COSS exchange for market price across 5 trading pairs.
Fees are paid in CFT with a 25% discount, when enabled in your COSS settings. This means a 0.1 ETH fee would only cost the equivalent of 0.075 ETH in CFT. CFT is consumed to pay the fees and 50% is paid back to COSS token holders in the FSA.
CFT is similar in function to Binance Coin (BNB). However, the 25% fee reduction is permanent with CFT, unlike BNB where the discount eventually reduces to 0%.
Other Benefits of Holding CFT
There are also some additional utilities planned for holding CFT. The first has already been implemented. Holding a predefined amount of CFT will earn you airdrops. Tokens and coins can hold promotions to airdrop their tokens to CFT holders meeting a minimum qualifying balance.
It has also been mentioned CFT could be used to vote for things such as community listings. This has not yet been implemented, but is planned at some point for the future. Many other features are also on the drawing board.
CELT is used to fund a community driven liquidity bot. Providing liquidity requires a lot of funding. The CELT token is being used to generate funding for the bot.
The CELT token is currently available through an IEO on the COSS exchange. Although this is a token heavily affiliated with COSS, it is not an official offering from the COSS exchange. CELT is completely by the community, for the community.
Holding the CELT token will earn you a small passive income, as the profits earned by the CELT liquidity bot are distributed in a profit share allocation (PSA) to all holders of the token.
The PSA is distributed through a smart contract, and therefore your tokens must be held in a private wallet. 95% of the profits are distributed to CELT holders.
Round 4 of the ‘Guess the Coin’ competition has ended, revealing the next coins to be listed on COSS. The two coins announced were SingularityNET (AGI) and LTO Network (LTO).
Trading is now live for both of these tokens on COSS.io. Both tokens are trading on the BTC, ETH and USDT pairs.
Round 5 of ‘Guess the Coin’ is currently open for entries and closes April 21st 00:00 GMT.
SingularityNET was developed to serve as a marketplace for AI services made accessible through the blockchain. From individual algorithms & standalone AI applications to machine learning or model training, these services will be offered to satisfy demand for AI among various communities.
The SingularityNET marketplace is currently available in Beta. Connect with your Metamask or Trust wallet account to access the marketplace. A host of AI/machine learning style applications are then open to use, such as this one that detects what action is being performed in the video. The AGI token is used to purchase the AI jobs available on the SingularityNET marketplace.
LTO Network bills itself as a hybrid blockchain designed for trustless B2B collaboration. The private layer is for data sharing and process automation (each process residing on its own miniature ad-hoc permissionless private chain). The public layer acts as a global security settlement layer — an immutable digital notary. This hybrid approach reportedly makes LTO Network GDPR and data privacy compliant, as well as scalable and ready for adoption.
Read the Visionary Paper for a simple introduction to the problems LTO Network is setting out to solve. See the docs for an in-depth guide on LTO Network.
LTO Network helps business with untried and untested ideas create blockchain solutions with technology that has already been proven to work over the past decade. They can also help provide GDPR privacy in a world where all blockchain transactions are public by nature. Finally, they enable typically isolated blockchain solutions to interact with existing systems preventing waster, unused solutions.
The COSS exchange liquidity token (CELT) launched today, exclusively for sale on COSS.io. The CELT token funds a liquidity bot operating on the COSS exchange. By owning CELT, you help provide liquidity on COSS.io and are also entitled to a share of the profits made by the bot.
Only 100,000 tokens are being made available each day on the COSS exchange. This will continue until July 16th 2019 or until the pool of ~10 million tokens has been sold.
Launch day has been an overwhelming success for CELT with all 100,000 tokens being sold. If you missed out today, you can return to COSS tomorrow to catch your share of the next 100,000.
The IEO launch of CELT also sees a sharp new branding by community member zk-Sharks. Droplets representing liquidity are incorporated with the COSS branding, giving rise to a stylish logo that subtly hints towards the purpose of the token.
How to Buy CELT 2.0
CELT 2.0 is now available to purchase via an initial exchange offering (IEO) on COSS.io.
The fixed trading price of CELT is 1 ETH = 995 CELT. This currently puts the CELT token at around $0.15-17.
Once you’ve purchased CELT on COSS, it is highly recommended you move the tokens to a private wallet. By holding the CELT in a private wallet, you will be able to claim your weekly share of the CELT bot’s profits – the PSA.
The withdrawal fee for CELT is set to the lowest possible amount allowed by the exchange – 2.5 tokens (<$0.35). See below for guides on withdrawing to private wallets.
If you owned the original CELT token, your tokens will be automatically swapped to CELT 2.0 tonight and you can begin claiming the PSA. If you access the CELT website before the swap, your balance will read 0 until the token swap has been completed.
Should you wish to sell your CELT tokens, you will need to wait until the IEO finishes on COSS. Once complete, you will be able to sell CELT tokens on the open market.
How to Claim PSA
To claim your PSA, you will need to hold CELT in a private wallet. You will not be able to claim your PSA if you leave your CELT on an exchange wallet.
Your private wallet needs to be one that can interact with a dApp. My recommendation is to use Metamask on PC or Trust Wallet on mobile. When your CELT balance is moved to Metamask, you will be able to interact with the smart contract at celt.dvx.me and claim your weekly PSA. See below for a guide to setting up Metamask (and Trust Wallet for mobile).
Although the PSA is distributed every week, you do not need to claim it that often. You could collect it once a year if you preferred! The first PSA will be distributed within the next 24 hours.
The CELT.DVX.ME Dashboard – Claim Your PSA Here:
The PSA will be distributed to CELT holders in ETH. By making payout withdrawal manual, the token avoids being classed as a security by the Monetary Authority of Singapore (MAS).
The PSA withdrawal process will require you to have ETH in your wallet. This is to pay the network fees (gas), which are typically minimal.
95% of all CELT profits go to token holders, with 5% being sent to an Ethereum dApp ecosystem – PLincHub. This dApp was created by the maker of the CELT bot and earns players 110% of their initial stake back over time in ETH bonds.
Additional profit made from the CELT bot’s PLinc holdings will be paid back to CELT holders in the PSA.
Once the CELT fund is completely funded (~10,000 ETH), annual returns are expected to be around 5% ROI. This of course, may change over time. The primary reason for CELT is to improve the liquidity of the COSS exchange, supporting trader’s investments in the COSS token. The profit share is a nice bonus!
CELT Bot Springs into Action
The CELT liquidity bot now has a fund value of over 200 ETH. This fund is used to provide liquidity on the COSS exchange. The bot buys low and sells high, with the primary goal of closing spreads to make trading easier on the exchange. The COSS exchange has a tiered trading structure – higher trading volume means lower fees. The CELT bot can take advantage of this and make a profit whilst trading to close the spreads.
The CELT bot will start by providing liquidity to all ETH pairings. This includes BTC, Tether, TruUSD, NEO, COSS, CFT, LTC, DAI, TRX. After that, the bot will begin trading on BTC pairings with the same coins.
Users trading on these pairs should see a noticeable difference in the ability to buy coins at a fair market price.
Once installed, you can either set up a new wallet, or use Metamask to view an existing wallet you may have on MEW, a hardware wallet or elsewhere. You should see the options like below. Follow the guide to import a wallet, or create a new wallet.
In the address field, paste in your Metamask address. To open the Metamask extension, click the fox icon in the top right corner. You can click on ‘My Ether’ to copy your address to the clipboard, or click the more icon (3 dots) for more information about your wallet and account.
When withdrawing from COSS, there will be a 2.5 CELT fee (this is the lowest fee possible). You will also be asked to fill in your 2FA to withdraw and you must confirm the withdrawal by clicking the link sent to you via email. Metamask will notify you when you withdrawal arrives (around 15 mins after confirming via email depending on the Ethereum network).
Your CELT tokens will not show up in Metamask automatically. They will show up automatically on celt.dvx.me however.
To show your CELT token balance in Metamask:
Click the menu (3 bars) icon
Scroll to the bottom and click ‘Add Token’
Click ‘Custom Token’
Paste the contract address (0x99a3a5333b4eb80192149f9edd42d1d57ac591ee) into the ‘Token Contract Address’ field
The remaining fields should autofill, if not, add these values to the respective fields. Token Symbol: CELT | Decimals of Precision: 18
With Metamask installed and loaded up with CELT tokens, you can now visit celt.dvx.me and access the PSA functions. You may be asked by Metamask to confirm the connection to the CELT website. The first PSA will be available within 24 hours to holders of CELT.
If importing an existing wallet, click import and select Ethereum. You will then be asked for you 12 word recovery phrase. Type in your recovery phrase and your wallet will now be available in Trust Wallet, allowing you to interact with dApps, including the celt.dvx.me website.
You could set up an account on Metamask (see above) and use the recovery phrase in Trust Wallet to import. This would allow you to view your CELT holdings and collect PSA on both PC and mobile.
In the address field, paste in your Trust Wallet ETH address. This can be found in the wallet tab and by clicking the ETH token.
Once your CELT arrives, it will show in your wallet. You can then access the CELT website by clicking the dApps tab and typing the address as shown in the image.
A Bright Future for CELT and COSS
With such a successful launch day, the future for CELT seems positive. With traders now incentivised to hold CELT thanks to its profit share allocation, there is no reason for COSS holders not to buy. The CELT token is one piece of a larger puzzle that will drive the COSS exchange to success, and earn you some money along the way.
With the profit share aiming to provide around a 5% annual ROI, even traders not invested in COSS will be eager to buy into the token for the weekly returns.
If you’ve purchased CELT today, let us know how the experience was for you. How did the IEO process go for you? Have you got your tokens in your private wallet? Are you looking forward to the first PSA?
The fee split is noticeably reduced from previous weeks. This is likely due to a lower weekly average volume. With the sharp drop of CFT following its initial launch, any traders who bought CFT at IEO price will find trade fees more expensive until CFT returns closer to its initial $0.10 price point.
CFT had been recovering slightly over the past few days, but following the FSA, the price is trending downwards again. This pattern may occur for a few more weeks/months until an equilibrium is reached between the amount of CFT distributed in the FSA and the price/buying pressure.
The likely conclusion for the downward trend would be COSS holders selling their CFT following the FSA distribution. The CFT pair with the highest volume is CFT/COSS. This means, a good percentage of sellers are using CFT to reinvest into COSS.
FSA Value at Snapshot – $1.47
The value of the FSA per COSS was 0.0001476420798391296194340, making the value $1.47 per 10,000 COSS. 114,759,866 COSS were included in the snapshot.
At $1.47 per 10K $COSS (@ $0.085 per COSS) that’s 9% ROI. This number can fluctuate weekly, meaning ROI is a poor indicator of actual annual return on investment. For example, last week the ROI was 17%.
The average volume for the 7-day period for which this FSA was calculated was $10.0 million.
USD Value of Fee Split Allocation
Value per COSS
Value per 10K
COSS in Snapshot
Avg. 7 Day Vol.
Token Value of Fee Split Allocation
Increase Per 10K (Prev. FSA)
Increase Per 10K (Current FSA)
Future Fee Split Allocation Updates
The volume is continuing to trend downwards since the snapshot. With CFT price slowly building, it will be interesting to see how the volume looks for next week’s FSA.
Daily distribution of the FSA was planned for release by the end of this week. We may see it arrive later in the month, if not this week, depending on how its implementation goes.
If there is a particular stat that you would like plotting over the course of this series. Please let me know if the comments section below.