In line with its mission to offer a pocket-friendly and cost effective platform for its users, COOPEX has outlined a number of policies to guide its operations. These policies are summed and discussed under the different subheadings below:
Where there’s cooperation, there’s progress
As the name Cooperative Exchange,
suggests, COOPEX will prioritize cooperation between its users and the exchange team. To buttress this relationship, COOPEX adopts a reward program where users/traders will be rewarded based on the success of the exchange. Also investors and other users on the platform will be privileged to have a say in the platform as per what tokens shoud be listed on the platform and other protocol decisions. This opinion of users would largely be through a voting system where they would make their decisions/opinions known.
Cooopex will be a transperant trading platform, always open with its users about all its policies. This in the end will enhance its credibility.
We discussed in our introductory post on coopex that most exchanges make unreasonable charges on individual traders for activities on their platforms and also give new projects some very raw experiences in listing their tokens thus, inhibiting such projects’ successes in a way and and giving users bad experiences. Coopex is a direct solution ot this very menacing situation. Coopex offers users a platform where they would be happy trading. A larger percentage of the trading fees generated on the platform will be shared back to traders and investors on the platform by way of incentiving them. Deposits of tokens will attract no fees whatsoever though the withdrawals will cost just enough fee to cover for the transaction cost.
Listing of ethereum (ERC20) tokens will be absolutely free as well as tokens that are based on EOS and NEO blockchains. At least this will be the policy at the onset but should COOPEX find it expedient to alter it along the way, it would be duely communicated to users. Tokens with blockchains of their own will be charged reasonable amounts for lidting fee dependent on its complexity of configuration.
That most tokens would have free listing on COOPEX however does not imply that listings would be made indiscriminately. All projects that apply for listing would be subject to thorough research and the exchange reserves every right to deny a listing if it finds the project not satisfactory.
The exchange will have a swift customer service that would be able to attend as promptly as possible to issues raised by users and projects without having to subject them to indefinite waiting as is the case with most exchanges.
Coopex will incorporate margin trading in its platform to make trading an easy experience for its users. The margin trade will be run on a seperate application and will be made available to public by the end of the month, August, 2018. The margin trading will only be available on the most liquid markets on the platform.
The need for liquidity is to enable traders to trade with rest of mind. Liquidity in crypto market enhances trade. COOPEZ liquidity program will save traders from illiquidity that plagues most exchanges, making the crypto market to go downward. Partaking in the liquidity program wilb be a matter of choice for project owners. If accepted, such projects would have to sell some percentage of their tokens at market price to the exchange so that it can be used to create the liquidity trades. Such projects will then be able to enjoy liquidity and margin trading for their tokens.
To market and give publicity to the exchange, the platform will make use of about 50% of funds raised during ICO for marketing purposes. However, in the event that this may not be enough, the exchange plans to make use of some revenue from its trading fees for the purpose.
COOPEX is committed to decentralization for security purposes. Thus in with time, it plans to decentralize the ERC20 portion of the exchange and make COOP the base currency thereof.
COOPEX will be fully launched sometime this month, August, 2018.
You can learn more about the project by visiting their website here: https://coopex.market/
And read their whitepaper here: https://coopex.market/Coopex_Whitepaper.pdf
Follow them on
facebook: https://www.facebook.com/coopexmarket/
Twitter: https://twitter.com/coopexmarket
Join their telegram: https://t.me/coopexmarket
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