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COSS Exchange 1st Weekly Fee-share Payout Per Token Look as Bitcoin Passes $5,300
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This post was originally published on my Medium blog on October 12th, 2017 and can be found here. I hope you enjoy and find this helpful!
Alright. The first little tidbit of news is that Bitcoin is currently sitting at $5,364 as I type this article out. Woah. Just wrote a short piece yesterday about Bitcoin creeping to $5,000 and it BLEW past it today! This article will focus on the new Crypto-One-Stop-Solution, or COSS Exchange, that you may have recently heard about.
Well, it’s a Decentralized Autonomous Organization designed to payback 50% of trader fees to those holding COSS tokens on a weekly basis. The exchange is very new and is expecting massive growth. I’ll tell you, from just a few Tweets with my affiliate link, 28 traders have already signed up. Doing my part to grow the COSS ecosystem, pretty cool! Here’s a link to the COSS exchange if you don’t yet have an account. If you do, let’s continue!
Now, a bit of a disclaimer. I don’t know how much the exact volume was for each of the currencies for the entire amount of time COSS paid out on…this means we are going to have to make some potentially false assumptions in order to get a better idea of what to project. Take these projections with a major grain of salt.
Looking below, we can see that over the past 30-days, COSS token alone has had over $17min trade volume. So the fees charged to the buyers and sellers of COSS AND every other token on the exchange are paid out to COSS tokenholders weekly — 50% of the fees collected that week in that particular token will be disbursed.
Now, looking at the larger chart below, we can see that holding 2,911 COSSearned me 3.22 COSS based on the volume of COSS traded and fees charged for trading COSS. If COSS token continued to have a regular average volume of $17,136,889, then I would expect to receive 3.22 COSSeach week if I continue to hold my 2,911. That means for each COSS token I held, I received 0.001106 COSS tokens — based on the current average volume of the COSS token trading and fees paid on trades.
As you can see from the chart above, only 3 tokens even paid out more than $0.01 based on holding 2,911 COSS — $COSS, $SUB, & $ETH. The total I received for this weekly fee-split payout was worth about $0.96 based on a $4,830 Bitcoin price. The 30-day volume above for COSS does include HitBTCand EtherDelta too. That said, it’s likely that 50% of the $17 million 30-day volume figure may have come from the aforementioned exchanges COSStoken is also traded on. Next I will jump into some very basic projectionsbased on the number of COSS tokens held for JUST the 1st weekly payout event.
A major assumption I am making through all of this is that the COSS exchange will only continue to increase the amount of volume being transacted on the exchange. I think it’s fair enough to assume that the number of traders utilizing the COSS exchange will only grow as the leadership team uses ICO funds to build-out the platform. The chart above does not include the assumption that COSS will grow, but WE can assume that it will grow. Below I’ve taken those assumptions and implemented them into the earnings projections:
In the chart above to the right, I have created rough projects based on if ALL token average trading volume remained the same in terms of percentage growth. So each token has different trade volumes weekly resulting in different levels of that token being split between COSS tokenholders. Keeping everything constant with the levels of growth; I can expect to receive $49.99 in tokens for holding 2,911 COSS for 52-weeks without any trade volume growth on the exchange.
You can see above that being a major COSS hodler with can really pay off. holding 1,000,000 COSS tokens would earn approximately $330.275/week. Over the course of 52-weeks, you would receive $17,174.30 in tokens if COSS volume remained the same across all traded tokens. If COSS exchange volume grows by 50% and remains constant for 52-weeks. The weekly earning of $435.412 would be $22,641.424 annually; again, at that constant level of growth without anymore whatsoever.
Remember, this does not take into account the fact that holding 1,000,000 COSS will help your overall weekly earnings grow. Someone holding 1,000,000 COSS in the 1st weekly payout received 1,106 COSS. That means next week, they will earn more because they would now be holding 1,001,106 COSS. This would continue to compound as the weeks pass, earning larger holders more COSS and, in turn, earning more of the other tokens paid out.
The synergy within the COSS tokenomics model is that loyal holders will continue to earn more overall as their COSS holdings grow as well. I will likely be following the COSS exchange growth and grabbing more COSS as the dips present the opportunity. For now, I hope you appreciated a bit of a deeper look into the COSS 50% fee share and their 1st weekly payout! Below is a comment from the Reddit channel from an awesome community member!
Donation address if you would like to donate! d[^_^]bI don’t normally do this, but as you can see — someone suggested I do. So this is at least for you gunsOfTheNavarone!
Below are some resources for beginning cryptocurrency enthusiasts or others interested in something new: The links below include affiliate/referral links which help support me as a writer. I do not get paid to write and this is my only means to generating income for writing. Thank you in advance and hope these resources are helpful to you. I only include resources in this list that I have used in the past.
- Cryptoversity by Chris Coney — The Online School That Pays You To Learn About Bitcoin, Crypto-currencies and Blockchains
- HitBTC Exchange— major exchange, access ICOs and multi-currencies.
- CoinTracking — Your personal Profit / Loss Portfolio Monitor and Tax Tracker for all Digital Coins
- Changelly — as easy as purchasing cryptocurrency gets — watch the exchange rate.
- Exmo Exchange- just launched their own coin and adding robust features to the trading platform.
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- Bit-Z— Newer Top 20 cryptocurrency exchange adding new, ICO coins all the time.
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- LinkCoin— Your ticket to using LinkCoin, Bibox, and Bibox365 exchange products and ICO’s — mainly Asian cryptocurrencies that are not available on other exchanges.
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