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Bitcoin Cash [BCH] to be allocated to CoinEx customers; 80% of the total revenue involved

Priyamvada Singh



Bitcoin Cash [BCH] to be allocated to CoinEx customers; 80% of total revenue involved
Source: Pixabay

A member of the Bitcoin Cash [BCH] community and a Redditor, Kesh4n started an r/BTC forum today, wherein she notified that the cryptocurrency exchange CoinEx will pay out long-term dividends in BCH for CET [CoinEx Token] holders. The eligibility for receiving BCH dividends from the company is the possession of at least 10,000 CET, the user informed.

Kesh also stated the rules of allocation, saying that if the CET holdings of a person are on CoinEx, then the exchange will calculate the dividends into BCH and allocate directly to the corresponding accounts. She added:

“Otherwise, the dividends will be calculated into CET and allocated to your CET wallet addresses elsewhere.”

The total dividend amount to be allocated is believed to be the 80% of the total CoinEx monthly revenue, whereas the rest 20% will go into the development and other projects lying under the company. The interval of allocating the BCH dividends will also be on monthly bases.

Another eligibility rule for claiming the dividends is that one has to hold only the released CET. Any CET that is not issued or released and comes from mining will not be included in the dividend program. Regarding the duration needed for the funds to be credited, Kesh wrote:

“Dividend time: Your dividends will be allocated in 7 business days at the beginning of every month. The final date may vary or be delayed depending on the financial settlement.”

Recently, a popular proponent of Bitcoin Cash, Faketoshi aka Craig Wright attempted to shut down the CoinEx platform. CoinEx is a subsidiary of Bitmain, which is on the opposing side of the BCH chain split drama and wants to implement the Wormhole protocol against Wright’s nChain.

What pushed Wright to the edge was a statement made by CoinEx that Bitcoin SV [Satoshi’s Vision], the implementation proposed by him for BCH is an “altered version of Bitcoin Cash protocol”. CoinEx stated this as Bitcoin SV does not have the replay protection and will put the network in a place of vulnerability as BCH is a hard fork.

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Priyamvada is a full-time journalist at AMBCrypto. A graduate in Journalism & Communication from Manipal University, she believes blockchain technology to be a revolutionary tool in advancing the future. Currently, she holds no value in cryptocurrencies.