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The CEP token
The DeFi platform Chemix Ecosystem has been improving by the inspirational collision of the team and community members. The continuous upgrade of functions and the expansion of our ecosystem give Chemix Eco a greater development potential. To adapt to the rapid development of the platform, accelerate the internationalization process, and expand our influences, we need a new governance token symbol to represent our new ecosystem.
With the sincere suggestions and vigorous promotion of enthusiastic community members, we carefully decided, taking the opportunity of ecosystem online, to name the project token in a general way to represent the entire ecosystem. We selected CEP (Chemix Ecosystem Pass) for the new token symbol by the community voting result on our Twitter account.
Total number of CEP tokens is 100,000,000, which have been distributed as follows:
As the core governance and utility carrier of Chemix Ecosystem, CEP has multiple functions:
- Capture Economic Benefits of the Platform: We will let the community decide how they want the economic incentives to be captured by the CEP token ; In the beginning stage of our platform, we will make a certain part of platform profit to perform dividends allocation by gCEP token, which can only be minted by CEP.
- As the auction margin in CVT auctions: the Chemix Pad has a default compensation mechanism to protect users who participated in auctions. Before auction is online, issuer needs to pledge a certain amount of CEP or stablecoins for potential default compensation. If there is a default on an auction, buyers can get their compensation with CEP from the issuer.
- Incentives on user behaviors: in different development stages of Chemix Ecosystem, we will encourage our users to participate in different scenarios with CEP incentives, for example, in Dutch Auctions, CEP can be used as "auction mining". When users invest in auction contracts, they can get CEP rewards with certain rules.
- Chemix DID NFT: in Chemix DID, a user can mint DID NFT with the burning of CEP tokens. we will create a series of algorithms on our users' behaviors to form different credit scores, user will enjoy many benefits with the Chemix DID NFT in Chemix Eco.
- Governance voting: CEP holders can participate in governance voting to decide the future development of the Chemix Ecosystem.