What is CoinFLEX?
Trading Bitcoin Futures
With the given climate of margin trading platforms, it is difficult to find a reliable and user friendly exchange that you can trust. Many exchanges are unreliable, manipulate or both. Hence this introductory article to the CoinFLEX exchange, a futures exchanges launching the first ever IFO (Initial Futures Offering), that seems to be very promising in the long term. We have compiled a review of the cryptocurrency futures exchange — CoinFLEX and how it compares to its competitors.
Sign up for CoinFLEX and become an early adopter of a promising ecosystem.
CoinFLEX, powered by Trading Technologies, is the world’s first physically delivered cryptocurrency futures exchange. With their quick & easy sign-ups, competitive fees, and native $FLEX token incentives, CoinFLEX is in a position to quickly take control of a significant portion of the futures market’s volume and become one of the leading exchanges, in terms of volume and liquidity.
CoinFLEX is backed by extremely early Bitcoin adopters.
The $FLEX Coin
$FLEX is the exchange’s native token issued via trade mining to reward traders for using the platform.
The total supply of the $FLEX tokens will be capped at 100 million coins, which will issued over a fixed, two year period.
Whenever executing a trade on CoinFLEX’s platform (taker’s), the exchange will issue the trader $FLEX tokens based on a percentage of the trading volume generated. Traders can also buy and sell $FLEX on spot market exchanges.
Trading Technologies Partnership
Tradings Technologies provides futures trading software, infrastructure and data solutions. For more information about Trading Technologies, please visit their website.
They provide a professional and customizable workspace and widgets, access to the industry’s one-of-a-kind trading ladder, algorithmic trading functionalities and tools, as well as several other services.
As stated on CoinFLEX’s website, “TT is the first independent software vendor (ISV) to bridge the cryptocurrency markets with the futures markets, providing their customers with the ability to trade both spot and derivative markets side by side. TT are a key shareholder in CoinFLEX. TT assists us in providing our users with professional cryptocurrency trading functionality on their white-label, customizable workspace and also offer access to sophisticated algorithmic trading tools.”
Physically Delivered Cryptocurrency Futures
Offers settlement in traded assets. You receive digital assets so no cash price settlement manipulation risk is at stake.
Backed By a Coalition of Cryptocurrency Partners
Trading Technologies, Crypto ‘Pioneers’, and Hedgefund.
IFO’s (Initial Futures Offerings)
Trade token futures, like Polkadot’s $DOT, before they hit the markets.
99% Multi-Signature Cold Storage
Security practices from a six year crypto exchange
up to 200 API orders/sec per user
Demo Testing Exchange Environment
Allows for new users to practice placing, executing, and cancelling orders of various order types and sizes.
No In-house Trading Desk
Unlike many other futures platforms, no employees will be using the platform & user data to trade against CoinFLEX’s customers.
Token Trading Incentive
Both makers & takers earn $FLEX tokens through trading on the platform.
$500 million buyback plan is scheduled. The team plans to buy back said amount of $FLEX tokens to be burned at a later date.
Flat Taker Fee – 0.03%
Designated market makers can receive extremely low taker fees.
Up to 20x now; 100x leveraged is planned to be implemented shortly.
Advantages of CoinFLEX
CoinFLEX will buyback and burn $FLEX tokens with 20% of the company’s profits every quarter until they have spent $500 million on $FLEX buybacks and token burns.
CoinFLEX will reserve 10 million $FLEX tokens to contribute to the insurance fund, which will be used and spent in any scenario to aiming to prevent CoinFLEX users from losing funds from unsuccessful liquidations.
CoinFLEX will reserve 10 million $FLEX tokens towards lenders on an upcoming trading product they will launch. Anyone who has funds deployed in the lending product is eligible to earn more $FLEX tokens. The $FLEX tokens will be distributed based on the amount of tokens the trader deployed out of the total funds lent to this product.
Marketing and Referrals
CoinFLEX will issue 5 million $FLEX tokens for marketing and referrals. These funds will be used for trading contests, customer/affiliate rewards and other targeted methods of user base growth.
Mark Lamb – Chief Executive Officer
Mark is CEO of CoinFLEX and a longtime advocate for physically delivered futures over cash settlement as a way to prevent manipulation. Mark’s vision for crypto derivatives is to grow the industry beyond speculation into real commercial use for lending, borrowing, hedging and payments. Mark Lamb has been in bitcoin since 2012 and previously co-founded Coinfloor, the UK’s first cryptocurrency exchange back in 2013.
Follow Mark on twitter, here!
Prohibited Countries: American citizens and residents of the United States of America, Cuba, Iran, Syria, Sudan, North Korea, Afghanistan and any other Countries that are restricted from trading on our platform are prohibited from holding positions or entering contracts at CoinFLEX. If it is determined that any CoinFLEX trading participant has given false representations as to their location or place of residence, CoinFLEX reserves the right to close any of their accounts and to liquidate any open positions.