[PRESS RELEASE – Seychelles, Seychelles, 31st October 2022]
CoinFLEX is restructuring the cryptocurrency futures exchange to issue the majority of its shares to clients and adopt a community-led model. This change will give the community a greater voice and greater participation in building the future of the platform.
CoinFLEX’s transformation into a community-led platform will see existing customers own a majority stake in the company. In late September, CoinFLEX launched its governance platform in partnership with The Commonwealth, a well-known provider of crypto governance solutions.
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 pioneering a community-led model through decentralized governance.
Expressing his views on the new governance structure, CEO Mark Lamb said: “Governance is at the forefront of our efforts to serve our soon-to-be shareholders and will help us continue our commitment to decentralization. We hope that CoinFLEX governance will enable our community to have a greater impact on how we operate “.
As part of its commitment to creating accessible crypto markets, CoinFLEX will increasingly adopt a market-based approach to platform development. One such example is List Without Permission, which officially came out on October 12. It allows projects to list their tokens on CoinFLEX with complete transparency without the complicated approval process and typical gateway on central exchanges (CEX).
While listings of unauthorized tokens exist on decentralized exchanges (DEX), CoinFLEX is the first CEX to offer an unauthorized listing of perpetual futures tokens. Perpetual futures contracts provide traders with greater price discovery, deeper liquidity, and increased capital efficiency. In addition to saving time with automated listings, projects will also save capital with no listing fees.
Under the new community-led model, CoinFLEX is working to become the most transparent cryptocurrency exchange with plans to decentralize custody and provide independent review of margin data. Coupled with a new hybrid on-chain governance structure to increase community participation, CoinFLEX is working on all fronts to earn the trust of the broader crypto community.
Founded in 2019, CoinFLEX is a global crypto derivatives exchange and returns platform committed to providing institutional and individual investors with an accessible platform to earn and trade cryptocurrencies. CoinFLEX is on a mission to create the world’s most transparent financial markets and foster an unlicensed future.
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