What is CoinFLEX (FLEX)

CoinFLEX is creating its Decentralized Clearing and Custody system. It will enable users to sign up and start trading on CoinFLEX.com without any extra hurdles. Essential information for their token is available on the MEXC Digital asset introduction page. Furthermore, we are listing (FLEX/USDT – Trade it here) on our Innovation Zone! Check it out now!

What is CoinFLEX (FLEX)
What is CoinFLEX (FLEX)

What is the Usage of CoinFLEX?

CoinFLEX gives users access to the platform’s Spot, Perpetual Futures, and Quarterly Futures contract markets. While trading will still be orderbook-based and match on cloud servers controlled by CoinFLEX, the key difference is that users’ balances and withdrawals will no longer be monopolized by the company. Instead, CoinFLEX will create a multi-sig network where balancing-changing user actions are passed privately. Other parties will independently verify that every balance, liquidation, withdrawal, deposit, trade, and margin change makes sense.

To ensure privacy and data accuracy, CoinFLEX will use Zero Knowledge Proofs. This allows verifiers to confirm the data’s accuracy. It also preserves the integrity and privacy of the user data, which contains positions and margin balances that could lead to liquidation if used improperly. A third party will provide the Zero Knowledge margining verification technology and SGX enclave setup for the verifiers. Meanwhile, Fireblocks will provide the signing technology for the verifiers to sign outgoing transactions post-verification.

The end result is that CoinFLEX cannot steal or act improperly with user funds since they will no longer hold user funds. CoinFLEX will become a centralized orderbook and a decentralized clearing/custody network that grows in participants over time.

Does CoinFLEX Provide a Mean for Money Laundering?

No, CoinFLEX will still use blockchain analysis tools like Chainalysis to detect if funds are originating from illicit sources. The network of independent verifiers will have access to the same data and will validate it independently of CoinFLEX. If funds are detected to be associated with darknet markets, SARs (suspicious activity reports) will still be submitted and the related funds will be frozen. CoinFLEX will continue to block interactions from sanctioned countries, such as Iran and North Korea. Additionally, the platform will continue to receive feedback and communications from regulators.

Where to buy FLEX Token

You can find FLEX Token here at MEXC! We are listing FLEX/USDT in our Innovation Zone!

What is the Price of FLEX Tokens?

The price of the FLEX token is $1.91 per unit. It has a market cap of $150,275,203 and a fully diluted market cap of $190,778,761. It also has a 24-hour trading volume of $389,461. You can check the live price of their token right here!

How to buy FLEX Tokens

You can buy FLEX Tokens on MEXC by following the steps:

  1. Log in to your MEXC account and click [Trade]. Click on [Spot].
  2. Search “FLEX” using the search bar to see the available trading pairs. Take FLEX/USDT as an example.
  3. Scroll down and go to the [Spot] box. Enter the amount of FLEX you want to buy. You can choose from opening a Limit order, a Market order, or a Stop-limit order. Take Market order as an example. Click [Buy FLEX] to confirm your order. You will find the purchased FLEX in your Spot Wallet.

You can find a detailed guide on how to buy FLEX Tokens here.

Keep Yourself Updated With The Crypto Trend

Check out all of the listings in the Innovation and Assessment zones as well as the major tokens in the Main Zone – we have more amazing projects to come! What’s more, MEXC lists moonshots and offers access to trade major cryptocurrencies. Visit the Hot Projects section as well to uncover more featured popular tokens. Lastly, feel free to visit MEXC Academy to learn more about cryptocurrency!

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