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.

Guess the Coin Round Five Closes Soon

COSS Guess the Coin Round 5
COSS Guess the Coin Round 5
Guess the coin, round five promotion

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.

Clue 1.

“A whole new world.
A new decentralised point of view.”

Clue 2.

“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!

My Thoughts for Guess the Coin Round Five

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)
  • Basic Attention Token – A decentralised ad exchange built on Ethereum (Try the Brave Browser)
  • 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.

Anyone can become a DEX with our software: you can join our DEX network to share liquidity, or create and manage your own DEX.

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!

SingularityNET and LTO Network Listed on COSS

SingularityNET and LTO Network Listed on COSS

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.

About SingularityNET

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.

For a thorough introduction and guide to using the marketplace, see this official guide from SingularityNET.

About LTO Network

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.

Guess The Coin Round Five Now Live

Congratulations to those that correctly guessed these coins and to the winners of the 500 CFT. If you didn’t get a chance to enter this round, round 5 is now live – go and check it out to be in with a chance of winning 500 CFT!

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 FSA Update Week 16 2019

FSA Update Week 16

The previous week’s FSA was temporarily delayed due to an update of the PGT ticker, which caused an error. The week the FSA was running normally again (as it usually does!).

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

Previous WeekCurrent WeekDifference
Value per COSS0.000247559594798174570.00014764207983912961-40%
Value per 10K$2.47$1.47-40%
COSS in Snapshot113928191 114,759,866 +0.73%
Avg. 7 Day Vol.11,700,00010,000,000-14%

Token Value of Fee Split Allocation

CurrencyIncrease Per 10K
(Prev. FSA)
Increase Per 10K
(Current FSA)
% Change

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.

COSS in Talks With B2C2 to Bring Liquidity to the Exchange


Liquidity is one of the most important components of a good exchange. Without liquidity, traders are less likely to trade and volume is less likely to rise.

Market liquidity is the degree to which an asset can be bought or sold without affecting the price of that asset. So, an exchange where you can buy multiple Bitcoin without the spot price rising has good liquidity. If purchasing multiple Bitcoin raises the price noticeably, or there aren’t even enough orders to fulfill your request, the exchange has poor liquidity. For more information about liquidity, see Investopedia.

Currently the liquidity on the COSS exchange is highly variable, depending on which pair you are trading. Some pairs have poor liquidity, some have reasonably liquidity.

The COSS team are making efforts to improve this over time, by making the exchange easier to use and incentivising trading through promotions and through the introduction of the COSS Fee Token (CFT).

The community even has a coordinated effort to create liquidity through its market maker bot – CELT. You can help to fund this bot and earn a share of the profit it earns by following this link.

COSS Announces Liquidity Partners

Recently COSS announced they would partner with the Singapore based FinTech company SNAP Innovations to provide liquidity. The process of onboarding SNAP is still ongoing.

In the most recent medium COSS spoke about this and discussed that the process of introducing another liquidity provider had begun.

We are also happy to say that we have gone through the corporate KYC process and finally got approved by yet another liquidity provider in B2C2. Again, this is a process that takes time and at this stage, our Dev team is exploring the implementation process and we are following up with B2C2 on full API implementation. We can’t give any defined timeline for when these services will be activated due to the complexity of the process and the importance of proper testing. These are just two of many actors in the field that we are currently speaking to.

What Can B2C2 Provide to COSS?

B2C2 is a leading cryptocurrency market maker. They are used by clients around the world and have traded tens of billions in cryptocurrencies to date. B2C2 was founded in 2015 and is headquartered in London.

As a market maker, they have a large pool of cryptocurrencies that COSS can buy/sell from at reasonable prices. This is all handled automatically using bots and their API.

B2C2 provides 24/7 liquidity in Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Ripple (XRP), Ethereum Classic (ETC) and ZCash (ZEC).

Garry Eng, CoinHako CTO says ‘B2C2’s API is simple to use, the prices are highly competitive, and they provide us instant access to liquidity, which has been an important part of scaling our business.’

B2C2 is a huge liquidity provider that COSS can utilise to provide some good depth on the main pairs. With liquidity comes volume, which is good news for the fee split allocation paid to COSS token holders. Volume is also good for the price of CFT, as it will trend upwards with increased volume.

More Liquidity Providers on Their Way?

In the Medium, it is also stated that SNAP and B2C2 are just ‘two of many’ that COSS are in talks with over liquidity. With a combination of providers, liquidity could improve dramatically over the next few months. Once we begin to see these companies in action, trading on COSS will become much quicker and easier. Expect to see a healthier FSA too.

Any thoughts on the other companies that COSS could be in talks with about liquidity? Leave a comment below.

Guess the Coin Round Four Closes Soon

Guess the coin round four
Guess the coins – round 4

The fourth round of ‘Guess the Coin’ closes imminently. 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 (~$14 currently).

My previous attempt at guessing the coins was not even close. However, this time round, I’m much more certain, which is why the publish date is very close to the end time of the competition.

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.

CLue 1: AI, anyone?

Clue 2: Getting rid of silos

You have until 14th 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!

Some Clues to Get You Started

There are a lot of coins out there focussed around AI, so the first coin isn’t initially obvious. From the logo, it looks like the pixelation is hiding an ‘S’.

With not a lot to go on, I headed to Google and used the power search site:coinmarketcap.com AI which brought up all the tokens listed on Coinmarketcap with ‘AI’ in their description. Unfortunately, this also brought up all descriptions that linked to a site ending .ai.

One result did stand out however:

With a team that has amassed AI developers and robotics scientists, SingularityNET (AGI) was developed to serve as a marketplace for AI services made accessible through the blockchain.

The next token was easier to recognise by its distinctive logo. The pixelation looks like it is hiding the lower case ‘sigma’ (σ) character.

After searching for the distinctive logo on Coinmarketcap, I found LTO, whose logo looks exactly like the one in the clue. However, no mention of silos in the description. Heading over to their website, still no mention of silos. In fact this token seems to offer nothing like what you would be imaging with a clue like ‘Getting rid of silos’.

Not put off, I used the Google power search again site:https://lto.network/ silo and found ‘The data silo problem‘.

Your Thoughts on These Guesses?

As I mentioned at the start of the post, last time my guesses were completely wrong! So if you are placing your trust in me this time, then good luck!

I think you’ll agree, if you take a look at both of these coins, there seems to be strong evidence they are the right answers.

The competition closes very soon, so if you still haven’t had a guess, take a shot now. If you have any thoughts on other coins the clues could be hinting at (and are willing to share), leave a comment below.

Earn Passive Income and Support COSS Liquidity with CELT 2.0

CELT 2.0 is the next step for the community driven liquidity bot running on the COSS.io exchange. First created over a year ago by Spielley, the bot has helped to tighten spreads on trading pairs, improving the liquidity of COSS.

The premise of CELT is simple, set limit orders to buy low and sell high. This creates liquidity and turns a profit. The improved liquidity and tight spreads on pairs that CELT operates on entices traders to use the COSS exchange, creating volume and FSA for COSS token holders.

What Is CELT 2.0?

CELT 2.0 improves on the original implementation by introducing a whole new token and smart contract that allows holders of the token to earn a share of the bot’s profits, sound familiar?

The bot will continue to operate in the same manner, tightening spreads and improving liquidity, but holders of the CELT 2.0 token will be able to take a weekly profit split allowance (PSA), a great incentive to get people helping the COSS exchange.

Funds earned from the sale of CELT 2.0 tokens directly fund the CELT bot. The more funding the bot receives, the more volume and liquidity it can bring to the COSS exchange. This of course, means greater rewards from holding the COSS token.

COSS receives criticism for limited liquidity. With CELT 2.0, COSS supporters can take matters into their own hands and support liquidity on the exchange, whilst earning a profit at the same time!

Buying CELT 2.0 Tokens

The original CELT tokens were pegged to Ethereum, with a flat rate of 1 ETH = 995 CELT. Owners of the original token will receive CELT 2.0 at the same rate. Following a snapshot on April 15th, CELT holders will receive a 1:1 rate of CELT 2.0. Any CELT tokens purchased before the snapshot will receive CELT 2.0 at the 1:1 rate.

CELT 2.0 Token Sale

A total of 10,000,000 CELT 2.0 tokens will be created. 9,350,000 will be made available through an initial exchange offering (IEO) at a rate of 1 ETH = 995 CELT 2.0. If all tokens are sold this will create a huge 9,396 ETH fund for the CELT bot to work its magic on the COSS exchange.

The remainder of the tokens will be reserved for the CELT 1.0 token swap, marketing and development.

The token will be purchasable on a yet-to-be announced Singapore exchange.

CELT 2.0 Profit Split Allowance for Token Holders

Much like the COSS token, profits created by the CELT bot will be distributed amongst CELT 2.0 token holders. 95% of the profits earned will be distributed evenly, depending on the number of CELT 2.0 held. The more CELT 2.0 you hold, the more you will receive from the PSA.

A snapshot will occur weekly, assigning users their share of the profits. Holders can take their profits whenever they wish. To prevent the token being considered a security, the profit split allocation (PSA) must be collected manually, but does not need to be collected each week.

The whole PSA is managed by a trustless, decentralised script. This means everything is done automatically, much like how the fee split allowance (FSA) is handled on COSS.

CELT Performance

You can view the performance of the CELT bot for yourself. You will see that profitability of the bot has improved with time, but of course, is not exempt from the unpredictable swings of cryptocurrency.

The more funding CELT raises through the CELT 2.0 token sale, the greater the profits it can achieve. With greater funding for trading, the CELT bot can achieve better fee rates on the COSS exchange, making it able to create even tighter spreads with better profits.

The current fund value stands at around 130 ETH. With this, CELT is creating around $40,000 volume per day. With 10,000 ETH of funding, the impact on CELT’s volume will be much, much greater.

From the profits, 5% is currently allocated to be redirected to the dApp ecosystem – PLinc Hub. This system, also created by Spielley, allows holders to earn 110% of their stake back over time. Profits from PLinc Hub can be fed back into the CELT fund.

Why You Should Buy CELT 2.0

CELT 2.0 is run by Duane Devante Lewis and Spielley. Both are well known and respected members of the COSS community who simply want the COSS exchange to excel. They worked together to create CELT 2.0 for the benefit of all COSS holders, as the better the exchange performs, the more we can earn as COSS token holders.

The bot has proven that it can be profitable with the relatively small fund that it has currently. The CELT 2.0 token sale is a fundraising measure that will greatly improve the abilities of the existing CELT bot, whilst also earning investors a share of the profits.

The creators recognise that the bot funds are 100% that of its community investors. With these funds the bot and decentralised token smart contract offer holders a way to come together as a community to improve the COSS exchange and earn some profits along the way.

By bringing liquidity to COSS, CELT 2.0 makes the exchange much more usable and attractive to existing and new traders. This has amazing potential to drive volume on the exchange to unseen heights.

COSS and CELT 2.0 go hand in hand. Support the exchange and receive great rewards in turn. If you want to read more about CELT 2.0 you can find the white paper here. To discuss CELT 2.0 with the community, visit the CELT telegram. You can view and read the CELT 2.0 smart contract here.

Genesis Vision and Storj Labs Listed on COSS

Round 3 of the ‘Guess the Coin’ competition has ended, revealing the next coins to be listed on COSS. The two coins announced were Genesis Vision (GVT) and Storj Labs (STORJ).

Trading is now live for both of these tokens on COSS.io. Both tokens are trading on the BTC, ETH and USDT pairs.

Round 4 of ‘Guess the Coin’ is currently open for entries and closes April 14th 00:00 GMT.

About Genesis Vision

Genesis Vision is a decentralized asset management platform built on blockchain technology. It connects people who want to trade with individuals that are experienced in trading. It also creates a total transparent system of investment and profit distributions, due to the nature of the blockchain and smart contracts that the platform is built on.

Investors can invest in Genesis Vision managers, who use the funds raised to invest in a range of markets, including cryptocurrencies and traditional commodities. An investment is made to the GV manager in GVT – the token that fuels the investment platform.

An example of a manager on the Genesis Vision platform

Above shows an example of a fund manager investing through opportunistic FX trading, with an overview of their performance. The platform also offers benefits to the fund managers, as it gives them access to a wide range of investments. This means they are not limited by the available assets provided by a single broker.

For more information about Genesis, see their FAQs.

About Storj Labs

Storj aims to provide decentralised cloud storage to its community. Files are split up into smaller components and dispersed across an array of devices, with users maintaining control of their keys, which grants them access to their files, at all times.

A decentralised, more secure platform that is cheaper and simple for developers to use and integrate will help Storj take on the likes of Amazon S3. Tardigrade.io is the production-ready version of the Storj network.

The STORJ token is intended to be the primary method of payment for the service, although other payment types may be accepted in the future. Users running storage nodes essentially rent their extra disk space, for which they are paid in the STORJ token. This blog post has more specifics about the token itself.

For more information, see the Storj whitepaper.

Guess The Coin Round Four Now Live

Congratulations to those that correctly guessed these coins and to the winners of the 500 CFT. If you didn’t get a chance to enter this round, round 4 is now live – go and check it out to be in with a chance of winning 500 CFT!

COSS Fee Split Allocation to be Distributed Daily

Daily FSA Coming Soon

The Fee Split Allocation (FSA) is the 50% share of all exchange fees distributed to COSS token holders. Previously this has been paid weekly, but in today’s official Medium update from COSS, it was announced the FSA is soon to be paid daily.

The FSA distribution is an automated script that runs Monday evenings (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.

COSS is looking to implement a daily run of the FSA script from as earlier as the end of next week.

FSA Distributions to Occur Daily

Daily FSA distribution was always planned with the recent upgrade of the COSS exchange to version 1.2. It is also a feature that has been frequently requested by the community.

At current volume and average fees, the value of a daily FSA would be around $0.35 per 10,000 COSS held.

The Benefits of a Daily Distribution

The primary reason for moving to a daily distribution of FSA, is to ensure that the estimated USD value of the FSA is a more accurate reflection of what was actually distributed.

The problem was visible most recently with the launch of CFT. As was expected, the USD value of CFT dropped shortly after trading opened. This meant that the USD value of the FSA was almost half what people were expecting – even though the amount of tokens received had not changed much.

Better Estimated USD Value for FSA

With a daily distribution, the estimated USD value would also be updated daily, making it a more accurate reflection of the real USD value. It also becomes less vulnerable to inaccuracies should a token in the FSA have a sharp rise or fall in value.

Positive Psychological Factors of Daily Distribution

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.

Initially, whilst the exchange volume and FSA is still ‘low’, there could be a negative effect as well. COSS holders have become used to seeing values such as $2+ per 10K COSS for the weekly FSA. This equates to around $0.35 a day. Even though it would be paid 7x a week, the number is still lower and could make the perceived returns of holding COSS seem less.

No Weekly COSS Token Dumps

Some traders like to hold COSS before and during the FSA snapshot to ensure they get their entitlement to the FSA, before then selling their COSS stack to try and swing trade during the week.

This weekly influx of COSS tokens on to the market puts selling pressure on the token, which of course lowers the price.

Although not noticeable every week, removing the weekly FSA should make the COSS token’s price more stable.

Any Negatives for a Daily Distribution?

On the whole, moving to a daily FSA distribution seems like a positive move. However, there could be some potential speed bumps along the way.

At the exchange’s current volume, the USD value of a daily distribution will be quite ‘low’. Meaning COSS holders will need to wait some time before distributing their FSA to their account wallets anyway.

Not all users are aware that the FSA holdings can be held indefinitely, so some may try to take their FSA profits as often as possible. If their COSS holding is small, this might prove to be very inefficient with the 0.001 ETH fee!

With the current on-site analytics we have for the FSA, keeping track of how it is doing will be more difficult. Statistics will be displayed for the day only, with no history, if it is kept how it is.

I’ll continue to do a weekly roundup of the FSA, looking at the total coins received over the week and comparing it to the previous week.

The FSA script is going to be running on a daily basis, once daily distributions go live. This is also another potential point where issues could occur. With the script running 7 times a week instead of one, there are more opportunities for errors to occur. The FSA has been running very well (apart from a slight hiccup when PGT changed ticker to PGTS), so this is unlikely to be of real concern.

Community Feedback on the Daily Distribution

In the official COSS telegram, the move towards daily distribution has been received positively.

If you have any thoughts on this change, positive or negative, please share them in the comments section below.