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 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.

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.