Mr. Baron — We are pleased to announce the AMA with CoinEx Smart chain!
So welcome @ to the CryptoNite club
[Coinex Smartchain]- It’s a pleasure to be here with you all, it’s a wonderful moment
Mr. Baron — Nice to meet you!
[Coinex Smartchain]- Nice to e-meet all, delighted to be here tonight to meet the members of CryptoNite
Mr. Baron — How are you all doing today? Ready for a great AMA guys? 😉
[Coinex Smartchain]- Great! Let’s go!
Mr. Baron — So, without making a delay Let’s start our AMA with a basic introduction
[Coinex Smartchain]- — Certainly, I am ready!
Mr Baron — We are really excited about the upcoming AMA with you! please tell us a bit about yourself and a brief intro about the project, please?
[Coinex Smartchain]- CSC is a smart contract chain created by the CoinEx public chain team for decentralized finance based on the principle of decentralization and permissionless block generation.
The CoinEx team poured their heart and soul into the creation of CSC, which is a high-performing Ethereum side-chain dedicated to open finance. This means while CSC far outperforms Ethereum, it is also seamlessly compatible with Ethereum.
Mr Baron — Thank you! Let’s go to the next question.
Can you tell us a bit about the team and their experience with crypto projects?
[Coinex Smartchain]- — Yeah, as has been stated above, CSC is produced by the CoinEx Team. I will briefly introduce their experience in blockchain technology.
The founder of CSC is Haipo Yang. As a young entrepreneur born in the 1990s, in addition to CSC, Haipo Yang is also the founder of Viabtc.com (one of the top five BTC mining pools) and CoinEx Exchange (a global leader in crypto exchanges).
ViaBTC is a well-established mining pool whose BTC hash powering ranks top five among all pools. The pool now supports over a dozen tokens, covering BTC, ETH, ETC, LTC, BCH, and ZEC. CoinEx is a licensed crypto exchange with a global presence.
The tech team has composed 50% of CSC team, and they have gathered professional blockchain developing experiences for years. Meanwhile the operation team of CSC is also experienced in cyptocurrency. They are from well known projects such as WAVES and many others.
Mr. Baron — Very detailed answer!
-Tell us, What are the main features that distinguish you from other projects and what competitive advantages do you have?
[Coinex Smartchain]- Launched on June 30, CSC is featured with the following:
First of all, CSC fully supports EVM. Any EVM-based side-chain project can be conveniently migrated to CSC using the development tools it offers, which saves a ton of development costs and drives the growth of the CSC ecosystem.
Secondly, CSC is highly efficient. On CSC, blocks are generated within seconds, and the transfer fee is less than 0.01 USDT. Compared with other public chains, CSC is extremely user-friendly in terms of frequent transfers and transactions by users and developers.
The third advantage of CSC is its ecosystem. As a mature exchange, CoinEx supports project teams with influence and popularity. At the same time, as an institutional investor, ViaBTC Capital can also provide financing and investment services for participants of the CSC ecosystem.
Mr. Baron — Please tell us about the $CSC token! What are the token use cases, distribution, and how to buy/get it?
The native token of CSC is CET, which is also the platform token of CoinEx Exchange.
Since release, CET has been issued and circulated via airdrop incentives, transaction fee discounts, promotions, and team unlocking, etc.
The total amount of CET is 10 Billion. Meanwhile, according to the applications of CET, CET is repurchased and burned from 50% of the CoinEx everyday transaction fee, so the current circulation of CSC is about 3.5 billion.
The burn will take place at the end of every month until the total supply of CET reduces to 3 billion.
The detailed circulating supply, repurchase, and burning can be checked here: https://www.coinex.com/token
As for the application of CET, it currently has the following usages:
- Native token for CoinEx Smart Chain
As a built-in token for CoinEx Smart Chain to circulate and act as gas, CET is based on the POS consensus protocol, decentralized and energy-efficient, making it easy to build your own decentralized applications. Meanwhile, with the development of the CSC ecosystem, CET will be used as gas for all Dapps on CSC, making CET more valuable.
- Deducted as trading fees of CoinEx Exchange
CET can be deducted directly as trading fees with the same market value at the dedicated discounts.
- VIP services and privileges of CoinEx Exchange
Users with a certain amount of CET holding can obtain VIP membership and enjoy privileges such as fees discount, withdrawal acceleration, exclusive customer service, etc.
- Exclusive promotional privileges of CoinEx Exchange
CET holders are entitled to special qualifications for promotional campaigns on CoinEx such as airdrop incentives, Accelerator support for quality projects etc.
Everyone buy and hold CET easily from here: https://www.coinex.com/
Mr Baron — Here is the Last question from my side
– Where can we find out more about CoinEX Smartchain? Can you share all your social media links?
Mr Baron — Thanks for the great introduction, we have several questions which were selected for the 1st part. Ready to start?
[Coinex Smartchain] — Thanks for all good questions from Cryptonite Club team, let’s move to the next! Excited!!
Q1 -Question 1 from @jannat_fabiha
I am very interested in the name of your project so I want to invest but currently your project has no information about the token that makes me wonder. Would you give me an overview of the current total supply and where can we buy your tokens?
A1 -The native token of CSC is CET. It is also the platform token of CoinEx Exchange which is one of the top exchanges in the world. All circulation of CET can be checked either on CSC explorer or CoinEx exchange. We also have regular buy-backs which can be checked on CoinEx Exchange.
Mr Baron — Thank you very much for your answers and clarifications! ready to proceed to the next question?
Q2 — Question 2 from @d_crypto_master
Without proper marketing and capital infusion, the project dies. How do you convince us that you have adequate marketing power and capital to push this project to the top project ?
A2 — This is indeed a nice question. Marketing and capital are indeed the key elements for a project to develop. CSC is a blockchain developed by CoinEx group which includes ViaBTC Pool( Top ranking BTC mining pool), ViaBTC Capital, CoinEx Exchange, Viawallet. We have millions of users using CoinEx Exchange, and we have a strong network that can help us connect with almost all kinds of marketing resources. Meanwhile CSC has its own foundation to help projects grow in the CSC ecosystem, and ViaBTC Capital will also research for good projects to invest in. We believe that with these, we can definitely help the CSC ecosystem grow and help outstanding projects get popular among CSC users.
Mr Baron — Thanks for those interesting details, clear answers are very appreciated for our community. Now is time to proceed with the next question🥳
Q3 — Question 3 from @tuan_iker
Staking is very important for every project to attract users. So does CoinEx Smart Chain have staking program? If yes, how can we stake your token? Is these any requirement for users?
A3 — Currently there are projects such as IFPool and Water Loan that allow users to stake their CET to earn additional rewards. We are working on bringing more Dex, Swap and other kinds of projects to our users. We expect that in the near future, CET holders will benefit more from holding CET.
Click to check IFpool: https://ifpool.io/
And Waterlaon: https://waterloan.finance/
Mr Baron — Thanks for your great answers! Ready for the next question?
Seo — yes ! Let’s Go
Q4 -Question 4 from @PrabhasaraNana2
Almost 80% of investors are focused purely on the price of tokens in short term instead of understanding the real value and health of the project. Please tell,,, Could you tell us on motivations and benefits for investors to hold your token in long term
A4 -Generally speaking the price of a token is determined by the market when a project comes to mature and have enough users base. It can be true that if there is enough buying, the price will go up.
When it comes to CSC and CET, we can say that the price is still undervalued and why is that? CSC has organized dozens million dollars to help the ecosystem grow, and the outcome is quite good. There are already some projects working to meet our users now, and with the huge user base of CoinEx Exchange, when there are more projects cooperating with CSC and developing on CSC, the usage of CET will rise, and the buying will increase. The price of CET is very cheap for the moment, but we can expect it to rise up high in the near future.
Mr. Baron — Thanks, guys for the detailed information and answers. Ready for the last question from Twitter?
Q5 — Question 5 from @ellieyourname
How many partners currently have trusted #CoinEx Smart Chain technology and what benefits do these partners bring to #CoinEx Smart Chain and vice versa?
A5 — There are currently about 20 projects running or about to launch on CSC. This is not a large amount compared to BSC or Solana, but CSC has been born only for 5 months until the next day. With so many public chains running outside, it’s actually not that bad right?
These projects will have our full support on marketing and technology support. And you may know that what comes first comes first! We believe those projects who choose CSC earlier will benefit more from the whole ecosystem development. Thank you so much for the support!
Mr Baron — Thank you very much for sharing. Now get ready for the most emotional part of our AMA — live questions!!!
Dear community, we will open the chat soon. Please prepare your questions.
CoinEx Smartchain guests will select 5 of them.
⚠️ Please remember the rules.
🚨Only genuine questions will be rewarded. Copied questions will be disqualified
🚨For Part 2 of the AMA, every user will be allowed to post a maximum of 3 questions.
🚨One message should contain a maximum of 1 question.
Thank you for understanding and good luck!😉
Omolara Olusanya, [29 Nov 2021 at 15:47:39]:
With a seamless compatibility with Ethereum does it mean it has higher transaction fees a trait of the Ethereum mainnet ?
ANS- CSC is EVM compatible, and it’s more efficient when comparing to Ethereum. The current transaction fee on CSC blockchain is about 0.1U or less than that. The transaction can be confirmed within 3 seconds. This is because of our advanced POS mechanism. For detailed information, everyone are welcomed to check on this doc.
Mahdhi Ismath, [29 Nov 2021 at 15:45:28]:
My question is If there is a very big problem with a project your team is running and it causes a loss of trust from the community, what does your team do?, and what methods does your team use to restore that trust?
ANS- It’s indeed that safety is most cared by users. CSC is produced by CoinEx Team, and as @DoctorBethel has mentioned, our team has great experience in blockchain technology. ViaBTC pool has been launched since 2016 and CoinEx Exchange has been launched since 2017. There is no big safety problem cuased to any of these projects, and we have served more than 2million users all over the world. As a company with responsibility, we would take on any result if any thing happens and serves our users well. But the thing is, we have never had safety problems, and we would do our best to keep the record.
Rex, [29 Nov 2021 at 15:48:00]:
why developers should choose CoinEx Smart contract for their project? What are the benefits they get?
ANS — Developers can choose CSC for the following reasons: 1. CSC is compatible with EVM chains, so it won’t be that difficlut for them to join CSC ecosystem. 2. The transaction fee is low and transaction speed is fast which can help developer to gain more users, as it’s more user friendly. 3. We offer attractive supports for developers who run projects on CSC. As has mentioned, we have funds support for developers, and we would do our best to help projects get more users. 4. We have enough resource to help projects gain publicity all over the globe.
We welcome all developers to apply for pur funds support also.
Yasir Ali, [29 Nov 2021 at 15:47:36]:
While you build your project, do you take into account community feedbacks and demands?While you build your project, do you take into account community feedbacks and demands?
ANS — Users’ feedbacks are always important in our group. We listen to our community on what kind of projects they would love to play the most. And with their feedbacks, we do our best to invite these projects to develop on CSC. Meanwhile to help users enter CSC more easily, we are working on bridges too. For CoinEx exchange, our users are always speakly highly for our service and our products. Thanks
Hook, [29 Nov 2021 at 15:46:04]:
Currently, most projects and platforms are in English. How will non-English local communities? Do you have any plan for them to better understand your project?
ANS — CSC currently offers Chinese and English services, but we definitely have the ability to offer more native languages as CoinEx Exchange currently offers 15 languages. In our telegram group, we also have pioneers who serves with native languages. If neccessary, we will defenitely provide more languages. In speaking of CSC pioneer program, CSC is open to inviting more native users to join us to help CSC grow community and raise brand awareness as well as bring more projects to CSC.
Everyone can check details about CSC pioneer program here:https://www.coinex.org/activity/ambassador
and welcome everyone to join our tg group:https://t.me/CoinExChain
Follow us on Twitter:https://twitter.com/CoinEx_CSC .
Thank you very much for your answers and your time! It was an amazing AMA!
you are doing a very beautiful and high-quality project! We are honored to have you here today.