THERE ARE TOO MANY COMMENTS of a concern troll accounts (EXCHANGES and other companies). It's useless to try to destroy Cobinhood, they have 0 transactions fees and better technology while other exchanges are collapsing.
It's easy to find answers to these questions, however:
- COB is a standard Ethereum ERC20 token and can be stored in Etherium address;
- The Benefits Of Being A COB token holder are:
50% off margin trading loan interest can be discounted when paid with COB tokens.
When Cobinhood underwrites an ICO, COB token holders will be able to get future ICO tokens at significantly lower rates. The amount of ICO tokens that a COB token holder can get at a lower rate is as follows:
(ICO Tokens Received by Cobinhood from ICO Underwriting Service) * (The Amount of COBs Owned) / (Total Amount of COBs)
Token holders can bind their Ethereum wallet address, which is holding COB tokens to their Cobinhood trading platform account, by calling the binding function in COB token smart contract.
After the binding is complete, COB holders can get the ICO tokens at a lower rate on the Cobinhood exchange.
As an example, Cobinhood underwrites an ICO for a token called XYZ. The total issuance of XYZ tokens through ICO is 100M and Cobinhood takes 5% as underwriter service fee. 10M COB tokens holder will have a lower rate, i.e. : 5M * 10M / 1B = 50k XYZ tokens. Cobinhood will make efforts to maximize a COB token holders benefits.
There may be more privileges for COB token holders in the future.
- 1 billion COB tokens was issued, half of it (500 million tokens) for ICO (they attracted more than 7,000 investors and raised $13,440,705). 400 million COBs belong to the team, while the remaining 100 million COBs will be used as private placement. Consider they invested a lot of money in technology, their systems can handle millions of transactions per second.
- There will be 9 airdrops this year. Free money. Airdrop is a coin give-away. If Cobinhood lists a new coin that is a ico, Cobinhood will be payed this for new coin listing and those free coins will be handed out to COB holders based on the number of COB. It happened recently with CMT, it was airdropped.
That's why people are buying COB, infact volume rise from 800k to 5millions, profits since ICO are huge and will continue to grow a lot.....