Gecoin(GEC), the native token of Geco.one crypto derivatives exchange, is an ERC-20 utility token created on the Ethereum Blockchain. GEC has a deflationary mechanism built to stimulate the coin’s value over time with a burning procedure. This procedure ensures all GEC used on the exchange will be sent to a unique wallet address without the key. The token can never be retrieved by anyone, which reduces supply, making it scarce and giving value simultaneously.
The first token burning procedure will take place on the 21st of December, 2021 and will subsequently occur at every three-month interval.
Gecoin main utility features
From January 2022 every user of a Geco.one crypto derivatives exchange will be able to purchase a monthly subscription (only with GEC) to gain access to the additional features such as:
1. LOWER TRANSACTION FEES
A 20% discount on all transaction fees, reducing the default fee from 0.04% to 0.032%.
The staking feature enables users to generate passive income and earn up to 8% by locking up their funds for a specified period using four different cryptocurrencies: BTC, ETH, USDT & GEC.
Available staking plans 30, 90, 180 & 360 days. — available NOW.
3. Trading with GEC on Geco.one
In addition to all features described so far, GEC token holders are now able to use GEC tokens on Geco.one exchange just like BTC, ETH and USDT.
Trading with GEC on external exchanges will commence on the 21st of January 2022.