Coinex announces a new dividend payout, for those holding 10,000 of its tokens…
by Manoj Sharma for CNR
Hong Kong-based crypto exchange Coinex has announced that it will pay out long-term dividends, or interests, in Bitcoin Cash (BCH) to the holders of Coinex tokens.
At the start of the month, Coinex announced on its official website that it is going to pay out those long-term dividends to all users holding enough CET locked in their Coinex accounts. The dividend will comprise 80% of all of the month trading volume of Coinex. The remaining 20% fund will be used by the Coinex to fund multiple developments and projects taking place under the name of the company. Details of those are not yet forthcoming.
Still, Coinex offers a myriad of digital assets for trading and has its native token, CET, which can be freely traded against multiple cryptocurrencies. Bitmain, the ASIC mining giant, is one of the biggest investors in Coinex.
In terms of meeting eligibility for the announced dividends? Well, a user needs to have a minimum holding of 10,000 CET to qualify for receiving the long-term benefit. Mined CET tokens that are unreleased or unissued are excluded from dividend calculations, and only released tokens can qualify for the dividend payout.
The dividends will be calculated during the coming seven business days in Bitcoin Cash. They will then be allocated directly to a user’s account. If users have stored CET tokens on a wallet other than that of Coinex, the dividends will be sent to their CET addresses elsewhere. More information on Coinex can be found here.