What is CEFS Token And Cryptopia Fees Sharing?
CEFS is a token created by Cryptopia exchange, which is based out in New Zealand.
Uses of CEFS
The holders of CEFS tokens will be distributed 4.5% of all the trading fees earned by Cryptopia on a monthly basis.
There are only 6,300 CEFS tokens are available in the market. The token lives on Ubiq platform, which is a blockchain platform created by forking Ethereum blockchain. So, Ubiq blockchain works a lot similar to Ethereum and facilitates smart contracts, and distributed applications (DApps).
The average blocktime of Ubiq is around 85 seconds. So, it takes the same time to get a CEFS transaction confirmed.
At the time of writing, the price of CEFS token is 0.1715 BTC. Similar to Bitcoin, the CEFS token has eight decimal places. So, you can even buy 0.00000001 CEFS provided someone is willing to sell you.
There is a fan website called CryptopiaShares where you can calculate the earning for your CEFS holdings. Remember, the site is not an official one. There might be differences in the actual and calculated earnings.
If you want to earn passive income, and instead of keeping crypto-assets ideal, buying CEFS and earning income is a good option.
Anyhow, your earning potential entirely depends on the performance of the Cryptopia exchange and trading volume.
Recently, the cryptocurrency exchange has been facing a backlash from the crypto-community due to its poor customer service and for the performance lag.
On 28 May 2018, the exchange has announced through a public notice that it is delisting 25 crypto coins. Holders of these tokens must withdraw them from Cryptopia by 28 June 2018. Otherwise, the exchange will remove these tokens, and the users will lose access to the assets forever.
So, what do you think about CEFS? Comment below. We would be happy to hear your thoughts and experiences.