What is CCSwap (CC) | What is CCSwap token | What is CC token

In this article, we’ll discuss information about the CCSwap project and CC token

CCFOX - The Centralized Crypto Exchange

CCFOX (Crypto Currency Futures & Options eXchange) is a centralized crypto exchange focusing on derivatives markets (https://www.ccfox.com/). Its core matching engine handles 30,000+ orders per second on the maximum speed. The BBO (best bid offer) depth of its top pair, BTC-USDT perpetual swap, worths more than 30 BTC or 1.5 million USD (based on a 50K BTC price) on average with a bid and offer spread less than half one USD, that is one of the top liquidity pools for the cryptocurrency perpetual swaps globally.

CCFOX also provided miner trading products (called spot miner) to its customers. Different from clouding mining system which trades mining power, buyers of spot miners actually own the miners permanently and can trade them at any time. With the bundle of hosting service and insurance service (mining time guaranteed), buyers could gain their steady mining returns. From the study of CCFOX, mining BTC is more profitable than buying BTC in the history of different market status.

The spot miner product makes the price discovery easier for the mining machines which is usually less transparent in the OTC market. CCFOX plans to introduce derivative miner products in the future to facilitate the price discovery process and to give customers more leverage to trade mining machines.

Since September 2020, CCFOX has paid back to its CEX community with a CeFi product. It has rewarded CC to its customers based on their trading volume contribution to the exchange, with a total airdrop of 44,000,000 CC. The exchange also announced a buyback plan with a third of its annual revenue in 2020. The buyback price is determined by the total buyback amount over the surrendered units of tokens. So far, 25,000,000 CC has been repurchased.

CCSwap - The Decentralized Crypto Exchange

CCSwap is a decentralized cryptocurrency exchange funded by CCFOX. The goal of the project is to gradually and smoothly migrate a fully functioned CEX to an equally efficient DEX with more transparency and self-governance within next two years.

CCSwap divides its roadmap into several stages, and gradually builds a decentralized exchange with smooth trading experience, high returns and low risk through the iterative process of product update in 2 or 3 years.

CC Token

The CCSwap Protocol Token

CC Token Contract Address: 0xb7fbFf4Ce5200215c690cc95855e5d6C5236Ee9f

Blockchain Explorers: Ethererm | BSC (Binance Smart Chain) | Heco (Huobi ECO Chain)

The CC Token total supply is 100,000,000. The distribution is as following:

  • DEX incentives: 60% of the CC genesis supply is allocated to CCSwap community members as incentives to both liquidity providers and swap users. Releasing schedule is over two years.
  • CEX incentives: 20% of the CC genesis supply is allocated to CCFOX community members as incentives to users who have been actively trading in CCFOX.
  • Investors: 7% of the CC genesis supply is allocated to CCFOX investors who have been providing funding support to both CCFOX and CCSwap platforms. Releasing schedule is over one year.
  • Ops team: 3% of the CC genesis supply is allocated to CCFOX ops team who has been providing operational services for CCFOX over past three years. Releasing schedule is over one year.
  • Developers: 10% of the CC genesis supply is allocated to DEX developer team who is responsible for the DEX project development and growth. Releasing schedule is over one year starting from the second year.

CC Token Distribution

CC Token Release Schedule

Tokenomics

The tokenomics (CCNOMICS) can be broken down as following:

  • 100 million CC hard cap.
  • Expected date to reach hard cap is April 2023.
  • The economic model of CC token is deflationary. The trading fees from the both CCFOX and CCSwap are used to buy back CC from CCSwap liquidity pool, part of which are awarded to the contributed CC community and the others are burned out.
  • CCSwap charges the same 0.3% trading fee rate as Uniswap does, and reserves 0.05% of the fees for the DEX society of CCSwap. Specifically, the reserving fees are exchanged for CC (on CCSwap exchange), 40% will be burned immediately, 40% will be awarded to the transaction initiators and 20% will be accumulated to a daily lottery pool awarding to some lucky traders on a daily basis.
  • At the early stage, CCFOX will also use its CEX transaction income to maintain the token value. The current buyback plan is with 35% of the exchange annual revenue. 20% of the repurchased CC will be burned. The others will be awarded to the CCFOX users.

Comparison to Uniswap and Sushiswap

A comparison of three DEX tokens is listed as following:

Going Forward

CC is more keen on the deflationary model and will be portionally burned on each buyback. It also incents to both transaction initiators (traders) and liquidity providers (AMM). More transactions will generate more revenue, which will in turn attract more liquidity providers due to higher returns. CCSwap will also introduce more utilities for CC such as lending and mining in the coming ecosystem.

CEX Incentives

Successfully operating for more than 3 years, CCFOX is now well positioned as a centralized exchange (CEX) in the derivatives crytomarket. Since September 21, 2020, CCFOX has been awarding its CEX community with preliminary CC token based on the trading contribution over the past half year. The allocation is through its CFI product series. The exchange bought back 25,000,000 CC with an average price of $0.42 using one third of the exchange annual revenue. Over a long run, CCFOX will keep buying back CC with its CEX revenue and awarding 80% to the CEX community based on the CEX ecosystem (the other 20% will be burnt).

Although CC is not a centralized exchange platform token, it inherits some platform token properties. Its ecosystem is to buy back using CEX revenue and award to the CEX customers. CCFOX is also introducing a set of events to consume CC and lead to token deflation.

CCSwap CC/ETH Staking Tutorial

Step 1:

First visit uniswap.org. Go to the ‘Swap’ interface and select ‘CC’. If you cannot find CC, please add it first. Under ‘Select a Token’ directly paste the contract address: 0xb7fbff4ce5200215c690cc95855e5d6c5236ee9f

You should now be in the swap interface as seen below. Make sure you are swapping ETH to CC. Use a maximum of half of your ETH to swap for CC. The other half of your ETH will be used later.

Step 2

A confirmation popup will appear like below. If you are using a Metamask Computer wallet, please confirm from the pop-up interface. If you are connected to a mobile wallet such as Imtoken or Tokenpocket, a confirmation prompt will pop up on the mobile wallet interface. A ‘Transaction Submitted’ popup will appear. (Gas fee can be increased to speed up the transaction! We recommend using the default gas amount on Metamask)

Step 3.

You will see a ‘Pending’ sign in the upper right corner of the Uniswap platform. Once the transaction has been successful, a prompt will appear.

Step 4.

Next, switch to the Uniswap ‘Pool’ Interface. You will need to provide liquidity for the CC/ETH trading pair on Uniswap to obtain LP Tokens.

Click the ‘Add Liquidity’ button, as shown below.

Both the upper and lower token inputs can be adjusted as you see fit. First, select CC, and then click the ‘Max’ button next to it. The corresponding ETH amount will be automatically displayed.

Select ‘Approve CC’, as shown in the picture above.

Select ‘Supply’.

Select ‘Confirm Supply’. You can click ‘Manage’ below to see your liquidity pool share and income.

Step 5.

Next visit https://ccswap.org/.

Select ‘Connect Wallet’ in the upper right corner. Similarly, according to the previous wallet you used on Metamask, choose Metamask or WallectConnect. If you are using a mobile wallet, open the wallet interface and the scan the QR code button in the upper right corner that appears on the interface.

You will see in the upper right corner that your wallet has successfully connected.

Select the CC/WETH pair.

Click ‘Approve’. After successful, the ‘Approve’ button will change to ‘Stake’, like the photo below.

Enter the amount you wish to Stake. You can click ‘Max’ to fill up directly, click Stake, and authorize the transaction with your wallet.

When you see the prompt in the upper right corner of the picture below, it means that the transaction has been successful.

You will now be able to see your income under the CC/WETH trading pair. Just a few simple steps, and you can earn an annual rate of return of 4000%, equating to a daily income of about 10%. Amazing. Even if CC goes down in value, these daily staking returns can make up for it.

Would you like to earn TOKEN right now! ☞ CLICK HERE

How and Where to Buy CCSwap?

CCSwap token is now live on the Ethereum mainnet. The token address for CCSwap is 0xb7fbff4ce5200215c690cc95855e5d6c5236ee9f. Be cautious not to purchase any other token with a smart contract different from this one (as this can be easily faked). We strongly advise to be vigilant and stay safe throughout the launch. Don’t let the excitement get the best of you.

Just be sure you have enough ETH in your wallet to cover the transaction fees.

You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…

We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.

Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…

SIGN UP ON BINANCE

Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)

Next step

You need a wallet address to Connect to Uniswap Decentralized Exchange, we use Metamask wallet

If you don’t have a Metamask wallet, read this article and follow the steps

What is Metamask wallet | How to Create a wallet and Use

Transfer $ETH to your new Metamask wallet from your existing wallet

Next step

Connect Metamask wallet to Uniswap Decentralized Exchange and Buy, Swap CC token

Contract: 0xb7fbff4ce5200215c690cc95855e5d6c5236ee9f

Read more: What is Uniswap | Beginner’s Guide on How to Use Uniswap

There are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once CC gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!

Top exchanges for token-coin trading. Follow instructions and make unlimited money

https://www.binance.com
  ☞ https://www.bittrex.com
  ☞ https://www.poloniex.com
  ☞ https://www.bitfinex.com
  ☞ https://www.huobi.com

Find more information CC

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🔺DISCLAIMER: The Information in the post isn’t financial advice, is intended FOR GENERAL INFORMATION PURPOSES ONLY. Trading Cryptocurrency is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money.

🔥 If you’re a beginner. I believe the article below will be useful to you

⭐ ⭐ ⭐ What You Should Know Before Investing in Cryptocurrency - For Beginner ⭐ ⭐ ⭐

I hope this post will help you. Don’t forget to leave a like, comment and sharing it with others. Thank you!

#blockchain #cc #ccswap

What is CCSwap (CC) | What is CCSwap token | What is CC token