Bitsten is an exchange backed by a coin named Steneum.
These guys made an ICO at the end of the last year with the ambition to have an exchange and to back that with a coin.
What they offered investors is a commission program, meaning that there will be commission given for the coins locked in. The commission is based on the Bitsten daily volume. From the total daily volume, they pay out 20% to investors as commission. The commission is paid daily in form of BITCOIN. You can't lock in more than 100 coins at the moment to keep the income high, this is also a good opportunity to increase its value.
At the end of the locking period, the coins will be given back to the owner in the form of COINS. Not dollars, not other things, but STN coins. If you lock at a low price, that coin might be worth much more at the end of the term, therefore you keep the value in your hands.
As more and more coins will be added (they have LCT, DOGE and obviously STN added) the volume will increase, therefore the daily commission will be more. This will make the coin a desirable coin to have. They will soon add Electroneum (ETN), which probably will bring a bigger volume. The high street coins are still on schedule to be added, therefore from now the project will evolve nicely. Pssst! It is at 60-70 cents, yesterday was at few dollars.
There will be regular buy backs of coins from the founders and burns in the same time, making the supply much lower and by that the price will increase.
It is an ambitious project, in development, with good rewards and an x11 coin. Mineable. Not stackable. Flesh and bones people. No trading bot. No ponzi. No scam. An exchange backed by a coin, a coin backed by an exchange.
It has a referral system as well.