I like the Cobinhood project as we are going to need a lot more competition in the crypto exchange space as more people enter the market. But I don't see the COBs token has any value in itself. They say it will be valuable in two areas: Margin Trading Loan Interest 50% Off. This is a minuscule difference like Polonex charges 0.15% on the profits made from margin loans. If it's a similar percent so you only pay 0.075% on the profits made. You would have to be loaning $100Ks for this difference to start to be worthwhile. The second value of the token is the reduced costs of future ICO purchases. They use the word 'maybe' when describing this offer as I believe it will be determined by the entity offering the ICO if they what to offer this as part of their ICO. They are under no obligation to do so and you may get zero ICOs on the site giving a discount to COBs token holders. Maybe I'm missing somthing here as I've only just started looking at Cobinhood so let me know if you think the COBs have some real future value.