Coinex is one of the greatest exchanges right now with many unique options and Bitcoin Cash as one of top paris vs other markets. Read an interview with Haipo Yang of this cryptocurrency exchange.
Hello tell us who you are and what you do in CoinEx and since when?
Hello everyone, my name is Haipo Yang and I’m the Founder and CEO of CoinEx. I first launched ViaBTC pool in 2016, and then CoinEx in December 2017. If you have any suggestions or opinions for us, you are always welcome to talk to us on our Twitter https://twitter.com/coinexcom or join our community http://t.me/TheCoinEx
How did you get to cryptocurrency and when ?
After graduating from Northwestern Polytechnical University of China in 2012, I first worked as a developer at Tencent Weibo and then FUTU. Between 2014 and 2015, I started my career in cryptocurrency industry and led the R&D team at ZeusMiner, the former Top3 Scrypt miner in the world. In April 2016, I committed myself to the development of ViaBTC mining pool and released the initial version after two months of intensive coding effort. That was when ViaBTC was officially launched and the team started to grow.
At first, the original intention of starting a business was quite simple: I wanted to make some extra money with a side job. However, because of the true enthusiasm of this industry, the side job became my main job. Entrepreneurship is a process of continuous growth, thinking and improvement. Through the process, I realized that the exchange is the core of this industry, so that in December 2017, I founded CoinEx with Bitmain-led
CoinEx and ViaBTC pool are connected, in what way ?
We aim to be involved both in the up-and down-stream of this industry, to establish a tighter relationship between miners and the exchange, and to provide one-stop solution for mining and trading. The mining pool, as in the upstream section, is able to drive user traffic
to the exchange. For example, ViaBTC has a feature “Transfer to CoinEx” for withdrawals, so that our users can more easily transfer their assets to CoinEx. Besides, we also have ViaWallet and CoinEx Chain, they together make up our whole ecological system.
CET is your own token, what is the current and what is the planned usability of it ?
CET represents exclusive services and privileges on the CoinEx ecosystem and can be used in diversified scenarios. Since its release, CET has been issued and circulated via airdrop incentives, transaction fee discounts, promotions, and team unlocking, etc.
Below are some applications of CET:
1. Long-term repurchase plan: CoinEx will buy back and “burn” CET with 50% of its
quarterly profits from transaction fees at the end of each quarter. When the circulating
supply of CET reduces to 3 BILLION, CoinEx will suspend the plan of CET repurchase
2. Deducted as trading fees: CET can be deducted directly with the same market value
as trading fees
3. VIP services and privileges: Users with a certain amount of CET holdings will become
VIP or can use CET to buy VIP membership and the privileges therein such as fee
discount, withdrawal acceleration, exclusive customer service etc.
4. Promotional campaign qualifications: CET holders will enjoy special qualifications for
promotional campaigns on CoinEx, for instance token airdrop incentives, Accelerator
5. Preinstalled token on CoinEx Chain: CoinEx DEX uses CET as its preinstalled token to
pay for “gas”. Every single operation by users on CoinEx Chain will consume a certain
amount of CET, and users can used CET to invest in or trade other coin/token assets.
Aside from circulating within CoinEx Ecosystem, CoinEx plans to extend the usage and
application of CET to other scenarios such as payments, etc.
You launched CoinEx DEX, but there is not much info on the volume or plans ?
DEX is clearly the evolutionary direction of the blockchain exchange, and it will reshape the exchange industry through decentralization. Now we have CoinEx DEX, which is committed to being a truly decentralized exchange that can be used on a large scale.
The things CoinEx DEX are working on are the governance of the decentralized community，realization of the license-free distribution and trading of tokens, as well as the performance and user experience of decentralized exchanges. I’m sure DEX will become the cornerstone and make the future of blockchain brighter.
I once wrote an article of What Kind of DEX Does CoinEx Want to Develop on Medium and explained our mission and vision in details clearly. You can learn more from here: https://medium.com/@yhaiyang/what-kind-of-dex-does-coinex-want-to-develop-76bb2aeab0d1
Exchanges start to delete anonymous coins, are you also going to do this?
Anonymous coins aren’t equal to criminals and technology itself is not illegal. We strive to provide a safe trading environment for our users with various cryptocurrencies, but will also closely monitor and follow relevant regulatory policies in different countries.
Based on personal opinion, do you think Bitcoin can see 20 000 USD+ in some near time?
Now we are at the bottom of the bear market and I’m optimistic about the price in the near time. However, when the alt season comes, the price will go up.
You guys were the first exchange to make a pair with BCH for everything. Why do you prefer BCH over BTC ?
I don’t think Bitcoin equalsthe three letters of BTC. It is the peer-to-peer electronic cash system described by Satoshi Nakamoto in the Bitcoin White Paper. BCH is the best application of this concept, as it’s a cash system for global users with more freedom, openness and easier accessibility. BTC congestion began since the first half of 2016, and its transaction fees skyrocketed during the peak time. This also caused a sharp decrease in the number of users of Bitcoin.
What do you think about decentralized social networks ?
I’m optimistic about the decentralized social networks. Users can be more free and relaxed. In recent years, scandals of user data and privacy leakage have frequently happened on mainstream social media networks. Many people also hate that the social media uses their personal data for push ads. Decentralized social networks will have a strong appeal to those users who have high requirements for privacy and security of personal information, and who hates push ads.