In the last one year, FCoin has been capturing and redefining the crypto exchange market. The company launched trans-fee mining model, Fractal public chain, and a Sustainable Mining mechanism. Now, FCoin is launching FMex — the first derivative trading platform where traders are the owners.
The FMex testnet is already live, and the official trading will begin this week on October 26th with several contests in the pipeline. Earlier we covered FMex, when the company was issuing FMex tokens (also called FM), and now there are some latest updates worth sharing.
FMex is a contract trading platform revolving around the community. In other words, the community members are the stakeholders. You make the decisions, earn daily dividends, and participate in the growth of the platform.
In the last 4 months, FMex has evolved with community-based decisions and the platform has been rigorously tested for bugs and issues. Here are 3 major benefits:
Benefit #1: FMex 80% income distribution
FMex platform will distribute 80% of the platform’s revenue to the users holding the FMex token. This is distributed every single day — and currently no other derivative platform is doing this.
In fact, this distribution model stems from FCoin, which continues to distribute its daily revenue to the FT token holders.
On top of this, users holding assets greater than 3 BTC with a certain trading volume will be automatically eligible for the VIP program offering negative maker fee and a discounted taker fee.
Benefit #2: FMex Follows Sustainable Mining
To understand this, you have to understand FMex’s token economy. Currently, this is how the tokens are distributed:
In short: Out of 1 billion tokens, only 300 million FMex tokens are available. The rest 35% tokens are locked and owned by the FCoin community for three years. The remaining 35% is used for Sustainable Mining.
Sustainable Mining is a mechanism in which users earn tokens for trading activities. Maybe you are placing a limit order, or executing a trade, you can earn FMex tokens. These tokens are locked for one year, so there is no immediate inflation.
Through this mechanism, both FCoin and FMex are making traders the owners of the platform.
Benefit #3: FMex’s Community-Based Governance
To truly build a decentralized community-based platform, incentivizing users is not enough. Users should rule, and this is what FMex offers. It allows users to vote and decide.
Recently, the income distribution and Sustainable Mining decisions were made through voting:
With all these benefits, we believe FMex is set to challenge the current derivative market.