GIBRALTAR, Dec. 9, 2020 /PRNewswire/ -- Covesting, a Europe-based, licensed DLT services provider and B2B software developer, has announced that core COV utility token functionality has been implemented on the Covesting copy trading module on PrimeXBT.
After successful launch of its peer-to-peer copy trading module on PrimeXBT earlier in the year Covesting has now entered phase two of the platform's rollout. Phase two introduces the full implementation of the COV token utility and functionality for users of the copy trading module to take advantage of.
With COV token utility activated, all Covesting platform users will be able to benefit from multiple incentives such as trading fee discounts, improved success fees, and more. The company also aims to allocate up to 50% of all collected fees towards a systematic buyback and burn program, which will continuously reduce the total supply of COV token in the market. All token burns will be made transparent through the Covesting platform interface as well as via the Ethereum blockchain.
A company blog on the subject with more information and details is also available. The company's top executives also shared comments regarding the launch.
"We are super excited to launch the COV token utility within the Covesting module and unlock the full potential of the platform," revealed Covesting CEO Dmitrij Pruglo.
Covesting To Expand Copy Trading Module Through White Label B2B Partnerships
Following the Covesting copy trading module's successful launch on PrimeXBT, the software developer has doubled down on its plan to establish additional B2B partners. "Now that the COV token is launched on PrimeXBT, we will begin exploring new partners to bring the Covesting module to and expand its community reach globally," explained COO Tim Voronin.
In addition to the core COV token utility features unlocked currently, Covesting is developing secondary, platform-specific features that align with each new partner's business objectives.
The Covesting copy trading module is available to license as part of a white label agreement. Currently, it is only available at the award-winning margin trading platform, PrimeXBT. PrimeXBT was selected as an ideal fit for the initial launch of Covesting module and the COV token.
Covesting is a global fintech company incorporated under the laws of Gibraltar, which offers the broadest array of software solutions for retail and institutional customers worldwide. Covesting has become one of the world's first companies to receive a Distributed Ledger Technology License (DLT) from regulatory authorities in Gibraltar.
For more information, please visit covesting.io.