COSS and CFT are the 2 tokens native to the COSS ecosystem, both with very different functions. Recently, CELT has opened for trading, but this is an unofficial COSS token, created by the community.
COSS Token Comparison
COMPARE Token FEATURES
Max. Token Supply
Official COSS Token
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Where to purchase
Earn Fee split allocation
Receive a share of 50% of fees taken by COSS exchange
25% fee reduction
Used to pay fees, earning a 25% discount
Funds liquidity bot and earn passive income
COSS Token (COSS)
What is COSS used for?
The COSS token’s only role is to earn holders a share of 50% of trading fees.
When someone uses the COSS exchange to trade a coin or token, the exchange charges a small fee. 50% of this fee is set aside to be paid to COSS holders, this is known as the fee split allowance (FSA).
The fees are distributed on a weekly basis (soon to be daily – Monday to Friday) in the same tokens that fees were collected in. This means the FSA is paid out in a variety of coins.
The FSA is held in a separate wallet from your exchange wallets. To retrieve your FSA, you must distribute each token individually at a cost of 0.001 ETH.
The more COSS tokens you hold, the larger your FSA will be.
COSS Token FAQs
For your safety, COSS tokens should only be purchased on the COSS.io exchange.
The ERC-20 COSS token was upgraded to an ERC-223 token. Some old ERC-20 token still remain available but are now worthless.
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
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.
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.
The new ERC223 COSS-token address is 0x9e96604445ec19ffed9a5e8dd7b50a29c899a10c
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.
COSS Exchange Liquidity Token (CELT)
What is CELT used for?
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.