COINEX DEX is a decentralized exchange created on the coinex chain. Before coinex DEX ,there was coinex centralized exchange which came to be in late 2017. In the coinex centralized exchange,you can exchange other cryptocurrencies in terms of bitcoin,ethereum, USDT and CET which is the native coin of coinex chain. Coinex exchange came to be in late 2019. According to their website, coinex DEX was created for financial liberalization. Coinex DEX was mainly created to enable different Dapps owners to be able to create and issue the tokens of the Dapp of their community member and be able to create its pair in terms of CET as well as pegged cryptocurrencies like bitcoin on the coinex DEX. This does not applies to other DEX exchanges where you have to apply for listing of your token on those platform where you will be charged some fees for listing your token over there. The good thing i like about coinex DEX is that you are the one who creates the pair for your created and issued token in terms of CET after which that data will be available for trading on the coinex DEX market. At the same time,there is no fees charged for listing your token over the coinex DEX platform.After you are done with creating the pair of your token,it will become available in the market such that anybody using the coinex DEX including your community member can be able to search for the token and be able to get it and trade it in terms of CET. For example, we can decide to create the token of our community and give it the symbol as TF. In terms if CET, the pair will be TF/CET. if the price of our token is trading at 0.1 CET per token. Different traders as well as our community member can be able to search for that pair on the coinex DEX and be able to buy them with their coinex balance using the limit price order. They can also sell their TF token in terms of CET using the limit price order. In the near future,coinex DEX are planning to implement the market price order.This shows that in coinex DEX, different people can be able to determine their future. They can build their wealth if they know how to trade their own created and issued token on the platform. You can create a strong community and issue the token of your community on the coinex DEX as well as create its pair in terms of CET. After you have done that,you need to make sure that you create a strong utility function of your coin such that it doesn't lose value. This will enable you to trade it well since you will be the creator of the token thus you will be able to build your wealth by trading the coin if you have a strong community. Here is a view of the coinex DEX exchange;
If you want to open an account at coinex DEX where your private key is the one that will enable you to get access to your account then you can follow the link from below; https://dex.coinex.org/
Team member of the coinex DEX AND THE KEY PLAYERS
Coinex DEX was created by the same guys who created coinex centralized exchange. In order for the coinex DEX to operate efficiency, there are two key players , the staker and the validator. There is a total number of 42 validators who are supposed to ensure that coinex DEX is running smoothly. The stakers will use their coinex balance in their coinex DEX account to delegate the validators who should be running the network while the validators will use those coins to serve several functions such as to validate any buy order or sell order being created by several Coinex DEX users. They can also use those coin to act as market makers of different tokens created and issued on the coinex DEX exchange as well as to validate transfer of native coin as well as tokens issued on the coinex chain from one smart contract address to another. The validators will be able to receive income in form of gas fees paid by traders as well as new coin minted for securing the coinex DEX. The income will then be distributed to several stakers based on the amount they will have delegated.This is indicated as from below;
Native coin of the coinex DEX
The native coin of the coinex DEX is coinex token being abbreviated as CET. The CET coin can easily be transfered from one smart contract address to another. The first smart contract address at the coinex DEX needs to pay a transaction fee in order for the coin to reach the second smart contract address. The fee will go to the validators running the coinex DEX exchange. With the coinex token, several users on the coinex DEX can use their coin to vote for the validators that they want to run the network such that in return they be entitled to receive reward in form of new coin minted as well as from fees charged. As a community owner ,you can use the coinex token to create and issue the token of your community on the coinex DEX and be able to create the pair of your token in terms of coinex token. For example, if person A has a huge community where he/she is training people on how to trade the cryptocurrency market, he or she might decide to create the token of that community and call it TF coin. He can then decide to pair it in terms of coinex token which will be paired as TF/CET. He/she can then decide to create the utility function of the coin so that it can easily be bought and sold by other community members. Some of the utility function may range from advertising function to rewarding function and so on. This will make his community member to become stronger since they will be connected to the coin which they can easily buy and sell on the coinex DEX . With the coinex token, the traders on the coinex DEX will be able to use it to pay for transaction cost so that their buy or sell order can easily be executed by the validators running the coinex DEX exchange.
How to create pair of your issued token on the coinex DEX
Before you can create the pair of your issued token on the coinex DEX,you first of all need to create and issue your token. Here are some of the steps you can follow to create and issue the token of your community on the coinex DEX before creating its pair; 1. Visiting the coinex DEX site The first thing you will do is to visit the coinex DEX exchange website. You can follow the link from below to visit the coinex DEX exchange https://dex.coinex.org/
After visiting the coinex DEX exchange, make sure to login to your coinex DEX account. When you login,you will be redirected to your account where several link pages are there. Some of the link pages you will see is that of wallet, exchange, management and operation history. Here is how it looks
Click on the wallet link to be redirected to several sub-pages like Assets, staking, community, tokens and address. Here is how the sub page looks like;
2. creating and issuing token
From the sub-page above, click on token to be redirected to the page for creating and issuing your token. On clicking,you will be redirected to issue token page. Here is how it looks like
From above image, click on issue token button to be redirected to another page . Here is how the token creation page looks like;
From above image, there are several sectors. On the name sector, insert the name of your token while on the symbol sector insert the symbol of your token. On token identity,insert the identity of your token so that it can easily be identify by users while on total supply, insert the maximum amount of your token that should be created. On the URL sector, insert the URL of your website of your token while on the description sector,insert the description of your token. After you are done, then click on continue to be redirected to another page. Here is how the next page looks like;
From above image,after you have indicated your nature,you can click on continue. When you click on continue you will be redirected to final stage indicating the name of your token,supply,symbol,identity,URL and description as stated earlier. Here is how it looks like;
From above image, just click confirm and issue token and you will successfully create and issue your token. You can then pair it in terms of CET so that when your community want to buy or sell it they will be able to get it on the market data sector by inserting it on the search data sector where it will instantly display itself in terms of CET. Here is an example of how it should look like ;
From the above image, when the symbol of the created and issued token is being displayed on the blank search space, that token will automatically displayed itself in terms of CET where the user can click on it and sell or buy it. This sounds amazing for this decentralized exchange which is a product of coinex centralized exchange. The future can therefore be considered to be bright. In this platform, you can easily create your own wealth provided that you have a strong community supporting you and that you don't have intention of dumping the token of the project of your community. If you can manage to trade it well provided that it has good utility function that will not make other community members to dump it, then everybody in your community member will be able to create their own wealth by trading the token of your community in this platform. Join the platform and you become the determinant of your future over there.
Coinex DEX is distrupting the centralized exchanges. It is trying to make the future of finance to be very decentralized such that everyone can be able to grow their wealth over the platform provided that they know how to trade their created asset well. Anyone with a huge community member can be able to easily create and issue the token of that community and be able to create the pair of that token in readiness for trading in terms of CET such that anyone wanting to exchange it in terms of CET, will be able to do so without any husstle. If you own any large community member, then this is the right opportunity for you to create and issue the token of your community on the coinex DEX via the coinex chain and make sure to create a strong utility function of your token.