Why are you more optimistic about small mining coins? ——"Mining Coin Network Celebrity Awards"

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First, please give a brief introduction.

William

Hello everyone, I am William, CEO of CITEX. First of all, I would like to thank Wabi.com for giving CITEX this opportunity to share and discuss with so many industry leaders. I hope to have more cooperation with Wabi.com in the future, and I wish Wabi.com will do better and better!

CITEX is a new exchange launched in October 2018. Our main business direction is the POW mining coin exchange, and we are known as the world's first POW exchange. So far, we have listed nearly 80 mining coins, which is the exchange with the most complete mining coins; users are distributed in more than 80 countries, and it is also the exchange with the most active miners. This year we will continue to cultivate the POW track and provide more financial derivatives such as contracts, options and more tools to our users.

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CITEX has been focusing on small mining coins since 2019, and this year it has made efforts in the halving PoW project. I believe there must be theoretical support behind these decisions. Can William share the economic model of PoW mining coins and why CITEX is optimistic about small mining coins?

William

The characteristic of the PoW mining coin economic model is that the primary market (issuance market) is entirely derived from mining. Miners pursue profits, which will make the mining cost close to the current coin price, that is, the coin cost fluctuates with the price at each moment. This is different from 1CO project parties and investors holding a large number of low-cost coins. The distribution of mining coins is more gradient and more dispersed.

In addition, from the perspective of the founding team’s interests, many PoW projects use a percentage of each block reward (water withdrawal) as expenses and rewards for the founding team and developers. This also avoids the risk of the founding team holding a large amount of chips in the early stage and cashing out and leaving to a certain extent.

The team's interests are gradually realized along with the market value and the price of the currency, and such an economic model is relatively healthy. In short, if the project fails, the founding team will have worked in vain.

Of course, the economic model of mining coins is also evolving, moving towards a more stable and easier way to spread the currency. For example, some PoW mining coins will launch the Masternode Hosting function, which was first innovated by DASH, that is, staking a part of the currency, renting a VPS, forming a master node, and providing services to the network on the consensus layer. At the same time, a part of the reward for each block will be allocated to the master node. This locks up a part of the circulating chips, which is also very beneficial to stabilizing the currency price. C network provides users with a simple staking function, which simplifies complex operations and realizes quick staking.

The masternode provides services to the network in the areas of stabilizing the network, preventing double spending, or anonymity, and obtains rewards, which is a healthy cycle for the entire token system. This year, many projects will take the PoW route, and many project parties have chosen not to do ICO, but use the fair release mechanism of PoW to build projects.

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The annualized return of C network's halved mining coin node staking service can be as high as 86.73%. Is this the unique charm of small mining coins or the credit of C network's product design? Can you tell us systematically about C network's strategic planning?

William

Many friends learned about C Network’s pledge products through this picture:

This is the Masternode Hosting staking that I mentioned earlier. These projects are all POW projects and support the Masternode Hosting function.

The income here is allocated on the PoW project chain, and the income is allocated by calculating the number of Masternodes in the entire network. However, due to the very complicated operation, it is difficult for ordinary users to get started. Therefore, C Network designed this product as a recommended staking method. Users only need to simply enter some staking parameters, and our engineers will manually configure the server in the background to make it more convenient for users to participate in staking. C Network is always thinking about providing users with more convenient and fast services.

C Network's strategic plan for this year

This year's development direction mainly focuses on two aspects:

Further work on PoW and strengthen financial derivatives

We have launched grid trading tools and 3x ETF products.

The option system is also under development and will be launched in early March. As we all know, the benefits of call options are unlimited and the leverage can reach several thousand times. However, we must pay attention to controlling positions and risks.

Leverage and contract trading will be launched in March. These two months are when we launch products intensively. I hope everyone can pay more attention to C network.

In addition, we will restart IEO, select high-quality projects, and further empower the platform currency CTT.