Daily FSA Now Live on 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.

CELT 2.0 Goes Live! – Your Guide to a Passive Income

CELT announcement banner

CELT 2.0 Launch an Overwhelming Success

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.

With the first round of CELT selling out, the total fund value of the liquidity bot has almost doubled. See this article for more information about CELT 2.0.

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.

IEOs on COSS allow the token to be bought through market orders only. This means you cannot place limit orders to buy or sell CELT, only market buy at a fixed rate. This is the second IEO held on the revamped COSS exchange, the first being its own CFT token for 25% discount on trading fees.

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:

CELT PSA website
The PSA dashboard on the CELT website

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.

To see the CELT bot in action, check out the trading log on Slack.

Setting Up Metamask (PC) or Trust Wallet (Mobile)

Metamask Guide

Download the Metamask extension for either the Chrome or Brave browser.

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.

With Metamask ready to receive CELT, head to COSS and make a market purchase on the CELT/ETH pair. Next, go to the accounts page and select withdraw on the CELT asset.

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.

How to view account details on Metamask

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:

  1. Click the menu (3 bars) icon
  2. Scroll to the bottom and click ‘Add Token’
  3. Click ‘Custom Token’
  4. Paste the contract address (0x99a3a5333b4eb80192149f9edd42d1d57ac591ee) into the ‘Token Contract Address’ field
  5. The remaining fields should autofill, if not, add these values to the respective fields. Token Symbol: CELT | Decimals of Precision: 18
Adding a custom token (CELT) to Metamask

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.

Trust Wallet Guide

Trust Wallet

Download and install Trust Wallet. When opening for the first time, you can import an existing wallet or create a new wallet.

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.

With Trust Wallet ready to receive CELT, head to COSS and make a market purchase on the CELT/ETH pair. Next, go to the accounts page and select withdraw on the CELT asset.

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?

COSS YouTube Contest Winners

COSS recently held a promotional contest to drive members of the community to create videos about the COSS exchange and platform, or either of the COSS/CFT tokens.

The promotion received around 30 entries. Up for grabs were 12 prizes of $1,000 dollars worth of CFT and COSS. Two videos won multiple prizes, making a total of 10 winning participants.

Community & Management Favourites

As well as prizes for the most views, there were also two prizes set aside for the community and management favourites. The community favourite is the featured image of this post, at the top of the page. Both these videos also won a prize based on views and other criteria, earning an additional $1,000 for their creators.

The community favourite video features an overweight man attempting ballet with the overlay “Because Jared receives weekly FSA from coss.io. He has retired from work. And has more time to do the things he loves. Sign up to coss.io today and spend more time doing the things you love.” – SirJarHead

The management favourite – Coss IO – Join the Crypto Revolution, by adrien ribeiro, focusses on different areas of Singapore. Kaleidoscopic effects and a drum beat in the background create a modern feel to the video. The video also shows someone using different aspects of the exchange and footage of the COSS offices.

COSS Promotional Video Winners

The following videos won a $1,000 prize based on the number of views they managed to earn during the competition and other criteria.

COSS.IO comparison with Binance and Kraken – 406 Views

Jean de Cosse
Published on 23 Feb 2019

Eating Spicy Popcorn🍿 – Talking About COSS ❤ – Laugh At Me While You Learn 🤓 – COSS Promo Video 🎥 – 644 Views

Devante Lewis
Published on 13 Mar 2019

Coss! The Next Cryptocurrency Exchange to Moon like Binance and Kucoin?? – 848 Views

Mark Anthony DiSessa Travel Vlogs
Published on 23 Feb 2019

Coss – Crypto Exchange – Promo – 3,408 Views

COSS Promo
Published on 25 Feb 2019

Coss.io – The Best Regulated Cryptocurrency Exchange – 4,249 Views

Published on 19 Mar 2019

Coss Promotional Video – 4,443 Views

Published on 5 Mar 2019

COSS.IO – Are you ready for the next step? – Coss Exchange – 4,519 Views

Daniel J.
Published on 28 Feb 2019

COSS.io THE exchange that fills all your needs! – 5,677 views

Published on 20 Mar 2019

Which video was your favourite? You can let us know in the comments below. Give these videos a share on social media as well, to continue to spread the knowledge of COSS!

Coss Fee Token (CFT) Launch Recap

CFT Trading Promotion

Coss Fee Token (CFT), the token that gives you 25% discount on trading fees at COSS.io was opened on the public markets yesterday, after initially being available only through an IEO at $0.10.

The launch went ahead smoothly and on schedule. There were some good deals scooped up within the first few hours, but the price stabilised at around $0.04 fairly quickly.

COSS’s exchange model is to distribute 50% of all fees paid back to holders of the COSS token, so for the last few months all COSS token holders have been earning CFT. This CFT was previously not sellable on the exchange, meaning a large amount of CFT has been building up in the wallets of COSS holders.

With this in mind, many expected the market price of CFT to plummet after launch, due to many looking to cash out.

CFT Initial Price and Volume Movements

As expected, the price of CFT did drop below its IEO price of $0.10, but not as low as many predicted. The price of CFT has been fluctuating between $0.03 and $0.05 across the BTC/ETH/COSS pairs. From 24 hours worth of data, there seems to be a slight upwards price movement.

Trade volume of CFT peaked at around $28,000 and has now settled closer to the $9,000 mark.

Initial markets were CFT/ETH, CFT/BTC and CFT/COSS with CFT/USD and CFT/USDT becoming available the next day. Currently ETH and COSS pairs have the highest volume.

Why CFT Price Doesn’t Really Matter Anymore

All fee split allowances earned since the introduction of CFT have used the $0.10 price point to determine the dollar value of the FSA, which recently has been around $2 per 10,000 COSS.

This means that anyone selling their CFT for the current spot price is losing half the value of their FSA. Which is an unfortunate loss in FSA value for the past few months.

The FSA distribution that occured on the same day as CFT trading had some people confused as it included roughly the same amount of CFT as the previous week, but he dollar value of the FSA had halved. This of course, was due to the price of CFT now being pegged to the market price, which has halved.

Despite this, CFT opening for trade is a good thing. With the price being lower, more CFT is now required to pay trading fees. Almost double the amount of CFT is now needed to pay fees compared to before.

With double CFT being used for fees, this means double the amount of CFT will heading in to the wallets of COSS holders, which of course will make up for the drop in price. The FSA dollar value should therefore go back to around $2 per 10,000 COSS from next week.

With CFT being open for trade, there is no more uncertainty on its value – the price is determined by the market. Without uncertainty, we may now see more people willing to purchase CFT for trading fees, but also for the upcoming incentives of holding CFT, such as air drops.

CFT Tokens Held By COSS

The previous plan was that COSS would keep selling the CFT they hold in the price pools that were open during the IEO, they were:

  • 20,000,000 CFT @ $0.10
  • 15,000,000 CFT @ $0.12
  • 15,000,000 CFT @ $0.14
  • 10,000,000 CFT @ $0.16
  • 10,000,000 CFT @ $0.18
  • 10,000,000 CFT @ $0.20
  • 10,000,000 CFT @ $0.22
  • 10,000,000 CFT @ $0.24
CFT trading walls on the USD pair

When trading opened, these 10 million+ walls had been replaced by smaller 50-100,000 walls at a wider spread of prices. This should allow the price of CFT to rise faster .

To the right is an example of what the order book looks like now on CFT/USD for a simple comparison. You can see the smaller walls will allow the price to rise more smoothly, rather than reaching $0.12 for example and getting stuck there until 10,000,000 CFT sells as well as the other sell orders placed by users.

Also worth noting is that the walls go all the way up to $0.50 now instead of stopping at $0.24. This is the same across all CFT pairs.

Also worth noting that the CFT monthly burn took place on 1st April, reducing the supply by 1M to 238M. You can check the total supply on etherscan. Also promised was the burn of any unsold tokens set aside for private trades. This has not occured yet, but is planned.

CFT Trading Promotion Live

The CFT trading promotion opened alongside the launch of CFT trading. All trading volume on any pairs counts towards your rankings in the promo. With such a large incentive for trading and lower prices of CFT, this could help drive the demand for the token on the exchange.

CFT Coss Fee Token Promotion

It would be interesting to hear what you think will happen to the price of CFT over the next few days/weeks/months. Do you think this is the price it will stabilise at for a while, or do you think we are due some more volatility?

CFT Trading Promotion Announced

CFT Trading Promotion

COSS Today announced that the CFT Trading Promo will go live next week on the 1st of April 2019, with a huge 1,100,000 CFT ($110,000) prize pool available.

Interestingly, this promo is not limited to the CFT pair, like previous trading promotions. Your trading volume on any pair on the exchange will count towards your overall promotion volume.

CFT Trading Promotion Details

  • Start Date: 1st April 2019 07:00 GMT
  • End Date: 1st May 2019 07:00 GMT
  • Duration: 30 days
  • Round Length: 3 days
  • No. of Rounds: 10
  • Prize Pool per Round: 100,00 CFT
  • Ranked Prizes: Top 20 traders
  • Random Prizes: 10 random traders

The CFT promotion will take place over 30 days. The promotion is split into rounds, each round being 3 days long. During those 3 days, the top 20 traders with the highest volume will earn a share of the prize pool. An additional 10 random traders will earn 2,000 CFT. After 3 days, the volume count is reset and traders can continue to battle it out for a top 20 place.

There is an additional 100,000 CFT available for the trader with the highest trading volume over the whole 30 day promotion.

Prize Breakdown

  • Rank 1: 10,000 CFT
  • Rank 2: 7,500 CFT
  • Rank 3-5: 5,000 CFT (each)
  • Rank 6-10: 3,500 CFT (each)
  • Rank 11-20: 3,000 CFT (each)
  • Random 10: 2,000 CFT (each)

Any Trading Pair Counts

In previous trading competitions, only volume on the promotional pairs was included in your total. For example, in the Substratum trading promotion, only volume on SUB pairs would increase your rank.

These promotions have typically increased volume on the promotional pair only. With all trading pairs counting for the CFT promotion, it is going to be very interesting to see how this affects the overall volume of the exchange.

Strategic Timing

The CFT trading promotion begins at a very strategical time for COSS, with CFT trading set to go live on the same day.

Many users have expected the CFT price to drop once trading goes live as it is thought many holders who have stockpiled the coin from weekly FSAs will sell to realise the coins value.

With such a large trading promotion going on at the same time, demand for CFT is likely to increase, due to the 25% discount it provides on trading fees. This promotion looks like a strategic move to ensure once CFT goes live on the market, there are plenty of buyers for those looking to sell.

How to Participate in the Promotion

Participating in this CFT trading promotion couldn’t be easier. As volume on any trading pair counts, all you need to do is make one trade and you are instantly eligible for the random 10 traders prize.

To earn a top 20 spot and a guaranteed prize, you will need to create a lot of volume. Competition is expected to be fierce, so to stand the best chance of winning, you might want to get a bot to do the heavy lifting for you!

Good luck to everyone participating!