# CoinEx Token (CET)

**Rank:** #293
**Type:** Token
**Source:** [View on Coinpaprika](https://coinpaprika.com/ja/coin/cet-coinex-token/)

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## About

### What is CoinEx Token?

CoinEx Token (CET) is a utility token launched by CoinEx, a cryptocurrency exchange platform. Created to enhance the CoinEx ecosystem, CET provides users with various benefits such as trading fee discounts, exclusive promotions, and access to special features on the CoinEx platform. The token operates on the Ethereum blockchain, adhering to the ERC-20 token standard, which ensures compatibility with a wide range of wallets and decentralized applications.

CET serves multiple purposes within the CoinEx ecosystem, including paying for transaction fees, participating in token listings, and engaging in promotional activities. One of the notable aspects of CoinEx Token is its role in the "Trade-driven Mining" model, where users receive CET as a reward for trading activities on the exchange. This model aims to increase user engagement and loyalty by incentivizing active participation.

CoinEx Token distinguishes itself through its integration within the CoinEx exchange, offering users tangible benefits and fostering a more engaged trading community. As a utility token, CET plays a crucial role in enhancing the user experience and supporting the growth of the CoinEx platform.

### When and how did CoinEx Token start?

CoinEx Token originated in December 2018 when the CoinEx team launched the token as part of their efforts to enhance the CoinEx exchange ecosystem. The project did not specifically release a whitepaper at the outset, but its development was closely tied to the CoinEx exchange's operations and goals. The token's mainnet launch coincided with its introduction in December 2018, marking its initial public availability.

Early development efforts focused on integrating the token into the CoinEx exchange to offer users benefits such as trading fee discounts and other incentives. The initial distribution of CoinEx Token was conducted through an airdrop to users of the CoinEx exchange, allowing for broad initial distribution among the platform's existing user base. These foundational steps set the stage for CoinEx Token's role within the CoinEx ecosystem and its subsequent development.

### What’s coming up for CoinEx Token?

According to official updates, CoinEx Token is preparing for a series of strategic enhancements aimed at bolstering its ecosystem. A significant upcoming milestone includes the integration with new decentralized finance (DeFi) platforms, targeted for the first quarter of next year. This initiative is designed to expand the token's utility and accessibility within the DeFi space. Additionally, CoinEx is planning a governance vote in the second quarter, which will allow the community to participate in decision-making processes related to future protocol developments. These efforts are intended to strengthen community engagement and enhance the overall user experience. Progress and updates on these initiatives will be tracked through official communication channels.

### What makes CoinEx Token stand out?

CoinEx Token stands out through its integration within the CoinEx ecosystem, which enhances its utility across various platform services. It is built on the Ethereum blockchain as an ERC-20 token, ensuring compatibility with a wide range of wallets and decentralized applications. A key differentiator is its role in reducing trading fees on the CoinEx exchange, providing users with cost-saving benefits. Additionally, CoinEx Token supports the exchange's ecosystem by participating in activities like voting for listing new coins and earning rewards through staking. The token's design emphasizes user engagement and platform loyalty, contributing to a vibrant community. Its strategic partnerships and integrations further bolster its ecosystem, making CoinEx Token a valuable asset within the CoinEx platform and beyond.

### What can you do with CoinEx Token?

The CoinEx Token (CET) is primarily used within the CoinEx ecosystem for various purposes. It can be used to pay for transaction fees on the CoinEx exchange, often providing users with discounts when they use CET for this purpose. Holders of CET can participate in staking, contributing to the network's security and potentially earning rewards. CET also plays a role in governance, allowing holders to vote on proposals that influence the future development and policies of the CoinEx platform. Developers may use CET in building decentralized applications (dApps) and integrating with the CoinEx ecosystem. Additionally, CET is supported by various wallets and applications that facilitate its use across different platforms and services within the ecosystem.

### Is CoinEx Token still active or relevant?

CoinEx Token remains active, with recent updates and activities supporting its relevance. As of the latest information, the token continues to be traded on multiple exchanges, indicating ongoing market presence. Development efforts are focused on enhancing the CoinEx ecosystem, with recent announcements highlighting improvements in user experience and platform capabilities. The token is integrated within the CoinEx exchange, providing users with benefits such as trading fee discounts and participation in platform governance. These activities underscore its continued relevance in the cryptocurrency exchange sector, catering to users who engage with the CoinEx platform for trading and related services.

### Who is CoinEx Token designed for?

CoinEx Token is designed for both individual users and institutional participants on the CoinEx exchange platform. Primarily, it targets consumers who are active traders and investors, enabling them to benefit from reduced trading fees and participate in special promotions. The token functions as a utility token, offering users various advantages within the CoinEx ecosystem, such as voting rights on certain platform decisions and access to exclusive events.

Secondary participants, like liquidity providers and market makers, can engage with CoinEx Token through staking and liquidity provision, contributing to the exchange's overall liquidity and market efficiency. The token supports a vibrant ecosystem by incentivizing participation and engagement, aligning user goals with the platform's growth and development.

### How is CoinEx Token secured?

CoinEx Token is secured through a Delegated Proof of Stake (DPoS) consensus mechanism, where validators are elected by token holders to confirm transactions and maintain the network's integrity. This model enhances the efficiency and speed of transaction finality while ensuring decentralization. The protocol employs cryptographic techniques such as Elliptic Curve Digital Signature Algorithm (ECDSA) for authentication and data integrity, ensuring that transactions are secure and tamper-proof. Incentives are aligned through staking rewards, encouraging validators to act honestly and maintain network security. Additionally, slashing penalties are in place to deter malicious behavior, ensuring that any attempts to compromise the network are met with financial consequences. Regular audits and governance processes further bolster the network's security, providing a robust framework for resilience against potential attacks.

### Has CoinEx Token faced any controversy or risks?

CoinEx Token has faced controversy primarily related to security incidents. In September 2023, CoinEx experienced a significant security breach where unauthorized transactions were detected, leading to substantial asset losses. The CoinEx team responded by suspending withdrawals and deposits temporarily to prevent further damage. They initiated an internal investigation and collaborated with external security firms to identify the vulnerability. The team communicated transparently with users, providing updates and implementing additional security measures to prevent future breaches. They also committed to compensating affected users through a reimbursement plan. As with most blockchain projects, ongoing risks for CoinEx Token include potential security vulnerabilities and regulatory challenges, which the team aims to mitigate through regular security audits and compliance initiatives.

