By
Chimamanda U. Martha
April 12th, 2024
CoinList introduced token launch auctions, a concept that allows the community to determine the value of a token in real-time through a dynamic auction process.
CoinList, a cryptocurrency exchange platform, has announced a series of upgrades to its offerings. After addressing technical glitches and bugs, the platform has released a comprehensive update that promises to improve the way users engage with and invest in digital assets.
Reimagined Karma System: Rewarding Community Engagement
One of these notable upgrades is a reimagined Karma system, which acts as the basis for a reputation-based points setup. This system rewards users for their active participation and contributions to the growth and advancement of crypto projects listed on the platform. The more users stake, trade, mint, participate in token sales, lend, and contribute to CoinList hackathons, the higher their karma accumulates.
The platform enhanced its system by introducing Karma Tiers. This new upgrade categorizes users’ Karma scores into one of these five tiers: Rust, Bronze, Silver, Gold, and Platinum. The higher the tier, the greater the chances of accessing exclusive token launches and offerings. This tiered system incentivizes active engagement and fosters a sense of community within the platform’s ecosystem.
Recognizing the importance of transparency and accountability, the exchange has implemented a clear history feature that allows users to track their accumulated karma over time. This includes any Legacy Karma claimed from previous iterations of the system, ensuring a seamless transition for long-standing users.
In addition to the revamped Karma system, the exchange has unveiled a new mechanism for token launches. Gone are the days of registering and waiting in queues to purchase tokens, users can lock up the desired amount for purchase at any time and receive notifications when the results are in.
Moreover, the platform has also empowered builders by granting them unprecedented control over their token launches. Developers can now collect wallet information, connect with their user base, and curate purchase tiers and allocations, ensuring a tailored and personalized experience for their communities.
Streamlining Token Auctions and Perpetual Trading Features
Taking innovation a step further, CoinList also introduced token launch auctions, a concept that allows the community to determine the value of a token in real-time through a dynamic auction process. This feature eliminates the need for fixed pricing, fostering a more organic and market-driven approach to token valuations.
Catering to the needs of traders, CoinList also unveiled its new Pro Trading and Perpetual futures Beta offerings. Soon, users will be able to access the pro version directly through the ‘Pro Trading’ tab on the main platform, eliminating the need for asset transfers between separate platforms.
The eagerly anticipated new addition among its users introduces a new way to trade early assets. This feature allows traders to leverage their capital more effectively, enabling them to take positions with less upfront capital. The new additions are poised to attract a wider range of traders and investors seeking advanced trading strategies and increased capital efficiency.
