BitCoke Token (COKE) Review: Tokenomic, Valuation, Growth Prospect
BitCoke has established itself as one of the leading Hong Kong-based cryptocurrency trading and derivatives platforms, offering its service to an international clientele. With a wealth of unique features, BitCoke provides users with a high-performance trading engine, first-rate liquidity, cold storage asset isolation and Quanto swap, making this is a truly unique online trading service.
The company is focused on providing a comprehensive trading experience and ensuring users are able to access the markets wherever they are. As such, the service is complemented with an excellent “multi-terminal” mobile trading app, for on-the-go trading. That focus, coupled with a dedication to expanding the business, has led the company to release its own coin, COKE.
Native token COKE
The BitCoke team launched its own native token COKE/USDT, which is now a publicly tradable asset. The COKE token will act as the native currency for the entire BitCoke ecosystem and all projects attached to this provider, acting as the reward coin on CoinDex and the governance token on CokeDAO.
At release, the maximum supply of COKE tokens will be 1 billion, with an initial circulation of 23 million. The initial COKE airdrop took place on November 10th and November 15th 2021, with tokens airdropped to customers. Coke coins are split across the various spheres of the BitCoke ecosystem, which equates to:
- CokeDex - 49%
- CokeDao - 21%
- The Team - 20%
- Public IEO - 2%
- Private Offering - 8%
The COKE token is issued as an ERC-20 token, with no inflation and a burning mechanism with 33% fees for a buyback. COKE will incentivize trading and reward market-makers, establishing a community and organically boosting the price of the native token in the long term.
Advantages of the COKE token
As well as the plethora of great features, users will be more than satisfied with the range of privileges on the BitCoke Exchange. These benefits include commission discount, higher yield for cloud mining products, direct access to fixed-income products, and IEO participation.
At this point, we should reiterate that customers will not just be able to access the derivatives platform, but the thriving BitCoke ecosystem in its entirety. CokeDAO is committed to expanding BitCoke’s profile and operations, by creating investment in fields like DEX, DeFi, GameFi, NFT marketplace and development, as well as any other potential avenues the crypto space creates as the industry develops.
Customers will also benefit from fee discounts on trading, opposed to working with third-party trading platforms like Coindesk and Binance. On top of that, users will have access to listing voting, offering transparency and allowing users to be a part of decisions making.
What are the other BitCoke features?
BitCoke is an innovative platform, boasting the one-of-a-king Quanto swap allowing customers to take out perpetual contracts that solve the disruption of coin conversion in futures and perpetual trading. Despite its uniqueness, the Quanto swap is easy to use, especially for any trader familiar with contract exchanges. Traders will be able to use over 50 major cryptocurrencies and stablecoins to trade (USDT/BTC/ETH), with a margin to leverage trade perpetual contracts, to which profit and loss are settled as well.
The BitCoke trading platform offers unrivalled trade execution speeds, meaning traders can carry out an abundance of trades at the same time without worry about congestion. The dev team have worked hard to bring the BitCoke products to life, but the platform has built its reputation around being a platform for proper traders. With 100x leverage, traders can multiply their exposure and potential profit by a staggering 100 times.
Traders are spoilt for choice at BitCoke and now with COKE supporting the entire ecosystem, the sky’s the limit for this provider.
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