CoinFLEX Announces Major Reform to Its Business Model

[PRESS RELEASE – Seychelles, Seychelles, 31st October 2022]

Cryptocurrency futures exchange CoinFLEX is restructuring to issue the majority of its shares to customers and adopt a community-led model. This change will give its community more voice and involvement in building the platform’s future.

CoinFLEX’s transformation to a community-led platform will see current customers owning a majority stake in the company. In late September, CoinFLEX launched its own governance platform in partnership with Commonwealth, a well-known crypto governance solutions provider.

The platform is described as “a secure and transparent way for users to submit, discuss, and vote on proposals that will help shape the future of CoinFLEX.” CoinFLEX is the first centralized crypto exchange to pioneer a community-led model through decentralized governance.

CEO Mark Lamb expressed his view on the new governance structure saying, “Governance is at the forefront of our effort to serve our soon-to-be community of shareholders and will help us continue our commitment to decentralization. We hope CoinFLEX governance empowers our community to have a greater say in how we operate.”

In its commitment to creating more accessible crypto markets, CoinFLEX will increasingly adopt a markets-based approach to developing the platform. One example is Permissionless Listing, which officially debuted on October 12. It allows projects to list their token on CoinFLEX with full transparency without the complicated and gated approval process typical of centralized exchange (CEX) listings.

While permissionless token listings exist on decentralized exchanges (DEX), CoinFLEX is the first CEX to offer permissionless listing of perpetual futures tokens. Perpetual futures offer traders greater price discovery, deeper liquidity, and increased capital efficiency. Along with saving time through automatic listings, projects will also save capital with zero listing fees.

Under the new community-led model, CoinFLEX is working toward becoming the most transparent crypto futures exchange with plans for decentralizing custody and offering independent auditability on margin data. Along with its new hybrid on/off-chain governance structure to increase community engagement, CoinFLEX is working on all fronts to earn the trust of the broader crypto community.

About CoinFLEX

Founded in 2019, CoinFLEX is a global crypto derivatives exchange and yield platform committed to providing institutional and retail investors with an easily accessible platform to earn and trade crypto. CoinFLEX is on a mission to create the world’s most transparent financial markets and empower a permissionless future.

The post CoinFLEX Announces Major Reform to Its Business Model appeared first on CryptoPotato.

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