In this article, we’ll discuss information about the CCSwap project and CC token
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 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.
The CCSwap Protocol Token
CC Token Contract Address: 0xb7fbFf4Ce5200215c690cc95855e5d6C5236Ee9f
The CC Token total supply is 100,000,000. The distribution is as following:
CC Token Distribution
CC Token Release Schedule
The tokenomics (CCNOMICS) can be broken down as following:
A comparison of three DEX tokens is listed as following:
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.
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.
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.
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)
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.
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 ‘Confirm Supply’. You can click ‘Manage’ below to see your liquidity pool share and income.
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.
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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)…
Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)
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
Transfer $ETH to your new Metamask wallet from your existing wallet
Connect Metamask wallet to Uniswap Decentralized Exchange and Buy, Swap CC token
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
Find more information CC
🔺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
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#blockchain #cc #ccswap