|Total supply||20 000 000 COV|
COV token offers a user-centric tokenomics model that provides unique incentive schemes for all the members of the Covesting ecosystem. When locking COV tokens — users are granted Advanced, Premium or Elite membership status to enjoy a wide range of benefits, rewards and discounts. Such mechanism further supports deflationary nature of COV token.
By holding COV tokens, Copy-trading platform users reduce their trading fees, and improve their revenue share from all profitable trades.
COV token holders earn higher (up to 2x more!) returns on USDt, ETH, USDc and other digital assets available in the Covesting Yield Accounts service.
We allocate part of all earnings to a systematic token burn program. By ‘burning’ COV, we reduce total supply and support deflationary nature (scarcity) of the token.
COV token holders who have activated one of three membership plans get the most out of Covesting ecosystem. Loyal COV community members enjoy higher profits and multiple benefits across all supported products.
At Covesting we never stop moving forward and adopting to whatever this dynamic industry brings us. To provide more transparency to our community members, and bring clarity regarding further Covesting ecosystem development priorities, we have put together this roadmap.
Covesting successfully releases its flagship product – The Copy-trading module. This innovative tool allows users to choose among the best performing traders and automatically copy their trading activity.
Covesting partners with one of the fastest growing margin trading platforms – PrimeXBT to launch Copy-trading module.
Covesting successfully debutes Yield Accounts service which allows anyone to earn daily interest on their digital assets. This product offers users with little technical knowledge to benefit from yield-generating instruments that have become so popular in recent times and participate in DeFi economy with ease.
PrimeXBT proudly announces the launch of Covesting Yield Accounts on its multi-asset platform
Amounts required for COV membership activation are reduced. New amounts: Advanced - 250$*, Premium $2,000*, Elite - $20,000*.
* Equivalent in COV tokens
Copy-trading platform users will be able to launch strategies denominated in COV. Followers are able to follow such strategies with COV.
PrimeXBT platform users will be able to open margin trading accounts denominated in COV and automatically save 25% on all trading fees when trading on these accounts.
COV token utility improved for Covesting Copy-trading module. Followers will receive higher profit distribution depending on their COV membership tier rather than initial following equity
Additional COV utility for strategy managers in Covesting Copy-trading module introduced. Strategy Managers who have activated Elite membership will get a 25% profit share instead of a standard rate of 20%
Copy-trading platform users will benefit from higher profit share when launching and/or following COV denominated strategies. Strategy managers will get a 25% profit share while followers will enjoy 75% profit share
Additional DeFi and CeFi yield-generating protocols are connected to improve returns on the most popular digital assets.
Every time a user stops following a strategy (denominated in any currency such as BTC, ETH, USDT etc.) he/she will be able to choose the payout currency. If COV is chosen as a payout currency – the maximum profit share of 75% will be applied on all generated profits.
Every time a trader decides to close his strategy (denominated in any currency such as BTC, ETH, USDT etc.) he/she will be able to choose the payout currency. If COV is chosen as a payout currency – the profit share of 25% will be applied on all generated followers’ profits, instead of 20%.
Elite COV members get an exclusive opportunity to stake their COV tokens in Covesting Yield Accounts and get daily rewards.
Covesting aims to burn up to 50% of all the fees generated by its products at random intervals. Fees will be calculated after excluding affiliate earnings, fee discounts, and other revenue impacts. Below you can find a list of all the COV token burn transactions.