Hi everyone,
Like every COSS holder I'm anxiously waiting for next tuesday's fee split distribution, we should start seeing the beginning of an uptrend :).
While we wait for that let's have a look at the coins available in the fee split for each of the past 6 weeks and how much of it can be converted for free.
Distribution structure
Let's look at the structure of the fee split first. The more people trade Bitcoin for example, the more trading fees will be generated in Bitcoin and a bigger part of the fee split will be paid in Bitcoin. Remember that the fee split is not paid in USD but in whatever coin the fees are generated from.
Don't forget that these are estimations of the fee split distribution at the time of the snapshot (on sunday). By the time the distribution shows up in your dashboard on tuesday, BTC could be up +25% and ETH down -20% so it's only useful to get a rough idea. For now you can expect ETH, COSS and BTC to account for more than 75% of the total.
It's more than likely we'll the share of the others coins go up in the future as more people start using the platform but if COSS sees a big increase in USD price it will keep on being the main share of the fee distribution.
All the prices were obtained with the cryptocompare API. I'm not sure what's up with the H2O token, there is no price quote in USD on coinmarketcap and it does not appear to be listed on any market either. I was surprised to see it appear among the main currencies on Nov, 26 but that's most likely due to corrupted data coming from the API.
Conversion Vs Distribution
As I explained in the last post, non Ethererum based currencies can be converted to ETH for free while Ethereum based currencies need to be distributed with a smart contract for a fee of 0.002 ETH (around 1 USD).
Now we'll look look at the percentage of free conversions and paid distributions for the last 6 weeks :
I'm sure things will change once volume picks up but you for now you can expect to be have about half of the fee split in ETH or easily convertible to ETH. For all the Ethereum based tokens you will have to wait until it makes sense to pay the distribution fee.
More info on COSS
Check out the following links for more info on COSS :
- Official page coss.io (checkout the FAQ)
- Coinmarketcap page for COSS coin
- Coinmarketcap page for COSS exchange
- Slack Channel
- Telegram channels for discussions (https://t.me/myCOSS and announcements (https://t.me/COSSchat )
- Subreddit /r/CossIO/
- For french speakers, Coss topic on JVC forum