COSS FSA Update Week 15 2019

Week 15 COSS FSA Update

This week’s FSA was delayed slightly due to a technical error with the automated process. The FSA is run automatically, but hit a snag due to the upgrade of the Puregold token ticker from PGT to PGTS.

The FSA script was rerun the following day (Tuesday) and once complete, the values showed the correct amounts. The FSA wallet link was briefly disabled during this update period.

FSA Value at Snapshot – $2.47

The value of the FSA per COSS was 0.0002475595947981745771363, making the value $2.47 per 10,000 COSS. 113,928,191 COSS were included in the snapshot.

The previous FSA was somewhat controversial as it coincided with the opening of CFT trading. As the price of CFT initially dropped, the FSA value appeared quite low. The latest FSA sees a return to the previously received values.

At $2.47 per 10K $COSS (@ $0.071 per COSS) that’s 17% ROI. This of course assumes that no factors change throughout the course of the year (COSS price and FSA value), both of which will of course fluctuate over time.

The average volume for the 7-day period for which this FSA was calculated was $11.7 million.

USD Value of Fee Split Allocation

Previous WeekCurrent Week
Value per COSS0.0001041273865231250901340 0.0002475595947981745771363 
Value per 10K$1.04$2.47

Token Value of Fee Split Allocation

CurrencyTokens Per 10K COSS
WISH0.000161902
OPQ3.22205E-06
PAY1.73324E-05
XNK0
PASS0.002213132
LAN0.000170365
KNC2.76293E-05
FDX0.002659332
JET0.00017538
TIG0.574628489
ENJ0.000247869
PRIX0.0001766
OMG1.01088E-05
FXT7.93782E-05
SNM2.34805E-05
FYN0
NOX0.003332881
BWT0.017525685
POE0.000758904
CS0
SENC0.000679259
ETH0.000319135
VZT0.000551801
TRAK0
USDC3.23643E-06
REQ0.000510767
MORE5.09607E-08
STX4.00732E-05
LALA0
CRED9.68756E-06
WTC4.85187E-06
PIX2.40971E-05
CVC5.26809E-05
TUSD2.10875E-05
UFR0.011182038
ADI0.000404573
SURE0
COSS0.192159688
UBC0.172851715
XDCE2.776038366
BLZ0.000182664
MRK0.062318418
DAT0.012917576
IND8.27673E-08
BNT0
CAN0.000116971
GAT0.076978276
GUSD0
HGT0.003230629
LINK0.00010401
KIN7.941456063
SUB0.152998414
LA1.73678E-05
ITT0.000118672
NPXS0.038716705
CFT82.70418329
DRGN0.021483946
MCO2.67531E-07
DAI5.74535E-05
MKR3.271E-08
PGTS0
UBT0

Future Fee Split Allocation Updates

This post is the first of the FSA update series. Over time, the collected data will grow making the analysis more beneficial. For example, next week will include percentage changes in coins received in the FSA.

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 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

Scrubing
Published on 19 Mar 2019

Coss Promotional Video – 4,443 Views

MARK HALLIDAY
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

Fuksix
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?

Unibright and Quant Network to List on COSS

Unibright and Quant Listed on COSS

Round 2 of the ‘Guess the Coin’ competition has ended, revealing the next coins to be listed on COSS. The two coins announced were Unibright (UBT) and Quant network (QNT).

Following the announcement of these two coins, their wallets have been opened for deposits, ready for trading to begin 3rd April 2019.

Almost immediately after announcing these coins, the third round of ‘Guess the Coins’ opened.

About Unibright

Unibright is a user friendly framework that allows businesses to easily integrate blockchain in to their current workflows.

Many businesses have processes suitable for replacing with a blockchain driven solution, but the nature of blockchain can appear complex or unnecessary.

Unibright aims to solve this by making it easy for businesses to integrate their own blockchain solutions in to their existing workflows using a user-friendly interface, through a ‘no coding needed’ approach. See their website for some example use cases.

The Unibright Ethereum token is needed to create smart contracts on the Unibright framework and connect smart contracts together. There are also future plans for the token, such as being able to purchase smart contract template. 

About Quant Network

Quant Network is the team behind the Quant Ethereum token. They are ‘laying the foundations for the next internet’ by working to bring trust back in to the digital world.

Blockchain has the potential to streamline complex processes and by design is inherently more secure than current networking protocols.

Quant simplifies how organisations take advantage of blockchain, so they can focus on operating their businesses and unlocking the benefits that this technology presents.

They currently have two products, Overledger – the world’s first blockchain based operating system and GoVerify – a method of verifying correspondence (email, SMS etc.) from organisations, protecting them from impersonation and fraud.

Guess The Coin Round Three 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 3 is now live – go and check it out to be in with a chance of winning 500 CFT!

Puregold Token Swap on COSS.io


About the Puregold Token

The PGT token is currently undergoing a token swap to PGTS, which ends on 8th April 2019.

Puregold token (PGT) is an Ethereum token from Puregold.sg. The token was the company’s initial attempt at bringing gold backed, token payments in to a 21st century digital reality.

Although the PGT token is not directly backed by gold, it is closely linked to the upcoming PGG token offered by the same company. When live, 1 PGG will equal 1g 99.9% gold. Puregold have stated that PGT holders will be eligible for a reward of sorts in PGG depending on their PGT holdings. No solid details have yet been confirmed.

Previously, you could purchase gold on the Puregold website using PGT, but this is currently unavailable likely due to the ongoing token swap.

Puregold Token Swap

On March 26th 2019, Puregold suspended trading on COSS.io. Puregold stated this was due to an upgrade of the smart contract, which would fix loopholes in the PGT token code.

Once complete, the updated contract will create a new token – PGTS. Puregold also claims their proprietary payment app PG-Pay will also be updated in the process. The update will improved speed and efficiency with the PGTS token.

How to Swap PGT to PGTS

Users who hold PGT on COSS will not need to do anything. All tokens on the exchange will be swapped by COSS automatically. The new PGTS token will begin trading in place of PGT when the swap is complete.

The swap is ongoing and ends on 8th April 2019.

If you hold PGT on any other exchange or an external wallet, you will need to transfer the token to the PG-Pay app wallet before the swap end date.

See this article from Puregold for more information about the PG-Pay app.

When Does CFT Trading Start?

CFT Trading opens April 1st

COSS Fee Token (CFT) is due to begin trading imminently. With a lot of speculation on price, there could be some good opportunities for those traders ready to trade when CFT markets open.

Trading of CFT is scheduled for 16:00 (GMT+8) or 08:00 GMT April 1st 2019. Singapore time is shown below.

Current Time (SGT GMT+8)

CFT Trading Pairs at Launch

CFT is due to begin trading on COSS.io in the following markets:

  • CFT/BTC
  • CFT/ETH
  • CFT/USDT
  • CFT/USD
  • CFT/COSS

What to Expect When CFT Trading Goes Live

Since the launch of CFT on December 3rd 2018, the FSA has been predominantly CFT. Each week has seen CFT make up around 90%+ of the FSA. With this in mind, there is a lot of CFT that has been locked up in people’s wallets as they have been unable to sell.

Some of the CFT has been reused for fees, essentially allowing traders to trade for free with the CFT earned in their FSA. But of course, people will be raring to sell some to realise the value of their FSA.

What is expected and what actually happens aren’t always the same in cryptocurrency. What is expected of the CFT trading launch is a deluge of CFT tokens hit the market, with greater selling pressure than buying demand. This scenario would push the value of CFT down (which is currently fixed at $0.10).

Should I Sell CFT or Buy CFT on April 1st?

Over the past few weeks, there have been a couple of airdrops to CFT holders. First a Substratum airdrop for holders of 5,000 CFT and secondly a Bitwatt airdrop for holders of 10,000 CFT.

Both of these airdrops show that the CFT token holds value outside its native function to reduce fees by 25%.

Future Incentives to Hold CFT and not Sell?

These airdrops came somewhat unexpected by the community. Some speculate that another incentive to hold CFT (and thus minimise selling pressure) could be announced around CFT trading opening.

Also, bear in mind the CFT trading promotion that is due to start around the same time as CFT markets opening. The trading promotion, in theory, should drive demand for CFT as exchange-wide promotional volume increases and people look to CFT to reduce fees.

CFT Fixed Price Points

COSS is selling 100,000,000 CFT at fixed price points on their exchange in ‘pools’. Once the $0.10 pool sells out, the next pool ($0.12) opens and so on. All the price pools are shown below:

  • 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

This means that as long as the exchange keeps operating and CFT is used, eventually the price will have to rise to $0.24 and beyond. This alone is another incentive for people to hold CFT as well as use it.

On The Economics of CFT

The economics of CFT are interesting. The value at which CFT is consumed for fees is dependent on its average price on the exchange. This means that if the price of CFT falls, more CFT is consumed for fees.

A hypothetical scenario; a trade costs $1.00 in fees, it therefore uses 10 CFT at $0.10. If the CFT price fell to $0.01, the exact same trade would now cost 100 CFT, meaning 10x more CFT is shared in the FSA.

50% of CFT is returned back to COSS holders through the FSA, with 50% going back to the COSS exchange, being ‘removed’ from circulation. This coupled with a price drop of CFT meaning more CFT is needed for each trade would lead to the CFT pools (see above) selling out quicker. This would lead to an upwards price trend.

CFT Trading Expected to be Volatile and Exciting

Initially, the price of CFT is expected (and likely) to drop, due to the sheer amount of expected selling pressure, but there are a lot of good reasons to hold CFT for the long term.

Expect people to try and profit from swing trading in the volatile CFT markets opening April 1st, but also don’t underestimate the traders with foresight and large investors/institutions, looking to scoop up cheap CFT to use for their own trading.

Anyone looking to trade CFT on April 1st, good luck to you. There will almost definitely be profits to be made and fun to be had!