Exchanges, have started creating their own tokens, to increase liquidity, and give more options to traders. In this article, we will check out, some lesser known. exchanges, that had issued their own coins.
Digitex
The Digitex token, gives privileges to traders on the Digitex Futures Exchange. All Digitex holders, can participate, in commission-free, non-custodial markets. Instead of transaction fees, the exchange covers costs, by releasing a set amount of tokens every quarter, and sells them, in a transparent token sale. There are three phases of revenue generation. The first, was an ICO, started on January 15, 2018, and sold out in 17 minutes, raising over 5 million USD. The second phase, will last until the end of 2021. The third phase will start in 2022. The token issuance, is community controlled, with voting, every three months, to continue the release cycle.
More about Digitex: https://digitexfutures.com/dgtx/
Dynamic Trading Rights
Dynamic trading rights, is a token, that can fund all transactions, on any listed pair, or on any new pair that will be listed in the future. The amount of DTR tokens needed for transaction fees, is based on the DTR market data, at the time of the transaction. The calculation will be done, with the best ask price of the DTR token. This favors buying DTR in advance. Every trade on the platform, burns DTR tokens, so the daily volume will match the amount of tokens burnt each day. DTR holders, can also vote for new pairs to be traded, in the platform.
More about the platform: https://www.tokens.net/
Eterbase
Eterbase membership token, is an ERC20 compliant token, that represent different levels of access to the Eterbase exchange platform. The tokens can be redeemed for discounts, products and services available. Tokens can be traded, but they are not an investment, as they represent membership privileges on the exchange.
More about Eterbase: https://www.eterbase.com/
FTX Token
FTX exchange token, is a token that is the backbone of the FTX Exchange system. The tokens are burnt, when they serve transaction fee needs. The coin can be used as collateral, for futures positions. The can be used for margin trade, when it will be available in the future. Holders, after a defined period of time, will have lower transaction fees on the exchange. Customers that hold enough tokens, will get rebates from time to time.
More about FTX: https://ftx.com/
There are many more exchange related tokens, but as usual, I like to make lists of four, so they can be easy to be read. Follow, for more articles, about the wonderful world of cryptocurrency.
