{"id":338675,"date":"2018-07-02T14:30:50","date_gmt":"2018-07-02T14:30:50","guid":{"rendered":"https:\/\/wncen.com\/?p=338675"},"modified":"2018-07-02T14:07:36","modified_gmt":"2018-07-02T14:07:36","slug":"coinex-volume-jumps-30000-on-new-trading-model-overtakes-binance","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ai-and-tech\/coinex-volume-jumps-30000-on-new-trading-model-overtakes-binance\/","title":{"rendered":"CoinEx Volume Jumps 30,000% on New Trading Model, Overtakes Binance"},"content":{"rendered":"
CoinEx jumped past 70 exchanges in less than 24 hours as its trading volume rose from $5 million to $1.5 billion following its adoption of a controversial new trading policy. Since offering a version of the ‘trans-fee’ mining model, it has moved into first place by exchange volume.<\/p>\n
New Model Boosts Exchanges<\/h2>\n
CoinEx has seen an unprecedented surge of interest following its adoption of the new ‘trans-fee’ mining model. It is a variant of the model used by Fcoin, Bit-Z and Coinbene which CoinEx call ‘Trade-driven Mining’ and ‘Dividend Distribution.’ Bit-Z and Coinbene also recently rose above Binance by trade volume but are now at place 13 and 14 respectively.<\/p>\n
In a step up from Binance, offering reduced fees if traders use its native coin BNB, this new ‘trans-fee’ mining model returns users trading fees in the form of the exchange’s native token. This means users\u00a0essentially get to trade for free while the exchange benefits from an increase in the use of its token. It is called ‘trans-fee’ mining because it allows users to receive the specific tokens as they get their fees paid back.<\/p>\n