BNB vs CFT – Fee Token Comparison


Features

Token comparison

Trading Discount

Community Voting

Airdrops

Max Supply

Year Issued

Issue Price

Burn Rate

Max Burn Amount

Exchange

CFT

Coss fee token

25% (Forever)

240,000,000

2018

$0.10

1,000,000 / Month

120,000,000 (50%)

COSS.io

BNB

Binance Coin

50% (Year 1) down to 0% (Year 5)

200,000,000

2017

$0.15

20% of Profits / Quarter

100,000,0000 (50%)

Binance.com

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.

Previous Binance Coin Burn Amounts:

Q1 (2017)986,000 BNB$1,500,000
Q2 (2017)1,821,586 BNB $40,000,000
Q3 (2018)2,220,314 BNB$30,000,000
Q4 (2018)2,528,767 BNB$32,000,000
Q5 (2018)1,643,986 BNB$17,000,000
Q6 (2018)1,623,818 BNB$9,400,000
Q7 (2019)829,888 BNB$15,600,000

Current Token Prices

Why Compare BNB vs. CFT?

Comparing CFT to BNB helps highlight the use case for the COSS fee token and how it differs from the COSS token. See here for a comparison of the coins in the COSS ecosystem.

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?

COSS Token Summary and Comparison

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


FEATURES

COMPARE Token FEATURES

Token Creator

Primary Function

Max. Token Supply

Official COSS Token

Passive Income

Fee Reduction

Monthly Burn

ATH

View Token Analytics

Where to purchase

COSS

Earn Fee split allocation

COSS Exchange

Receive a share of 50% of fees taken by COSS exchange

200,000,000

0

$3.04

COSS.io

CFT

25% fee reduction

COSS Exchange

Used to pay fees, earning a 25% discount

240,000,000

1,000,000

$0.10

COSS.io

CELT

fund liquidity

Community Developers

Funds liquidity bot and earn passive income

10,000,000

0

$0.17

N/A

COSS.io

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

Where can I buy COSS 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.

See here for a list of CFT FAQs.

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.