This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice.
The month of February has been packed with updates for the Covesting user community and COV token holders alike. The latest updates, namely new COV-denominated margin trading accounts and strategy manager accounts, have had the industry abuzz.
However, the Europe-based fintech developers are nowhere near done and have introduced yet another new COV token utility that dramatically improves the profit share model for Covesting copy trading followers who hold COV. Moreover, the company’s roadmap still promises more ambitious new features in the pipeline. Let’s take a look at everything the COV utility token can unlock.
Profit Share Increase in COV Token Update This week, Covesting debuted the latest in a string of promising utility updates designed for COV token holders. The new utility dramatically increases the profit share in favor of followers.
The Covesting copy trading module connects highly ranked strategy managers from around the globe with followers who are eager to earn from the current once-in-lifetime market volatility. The standard profit share had 20% going to the strategy manager, 20% to the platform, and as much as 60% to the follower. But under the newest conditions for followers who hold COV, the profit share has been boosted to up to 75%!
Users can activate the new utility starting today by locking the required corresponding amount of COV tokens within the MyCOV section of PrimeXBT and enabling an Advanced, Premium, or Elite membership. Each membership tier offers an increasingly better set of account-level utilities that improve profitability for all types of Covesting users across the board.
Plenty More Profitable Features Planned The increase in profit share for followers holding COV comes just weeks after new COV-denominated margin trading and strategy manager accounts went live on PrimeXBT. These latest innovations also continue to create new demand for the COV token and introduce an abundance of new opportunities to Covesting users.
Whereas this most recent release focuses on followers who hold COV, the next major release, according to the Covesting development roadmap, will instead cater to strategy managers. The next upcoming COV utility enables strategy managers to receive up to a 25% profit share at the Elite level, up from the standard 20%.
Other available utilities unlocked via COV memberships include an increase in individual followings and a trading fee discount. Activating a COV membership also increases the variable APY generated through yield account staking by as much as 2x.
How To Get Your Hands On COV The COV token is an ERC-20 utility token native to the Covesting ecosystem and innovative product lineup. The COV token is integral to any experience developed by the premiere European fintech developer. Unlike other utility tokens on the market, COV utilities are already live and available at PrimeXBT. The supply is scarce and constantly shrinking due to regularly scheduled token burns.
COV tokens can be purchased at PrimeXBT via the platform’s exchange tool at Uniswap, Kucoin, and other leading cryptocurrency platforms.
This content should not be interpreted as investment advice. Cryptocurrency is a volatile market; do your independent research and only invest what you can afford to lose. New token launches and small market capitalization coins are inherently more risky than large cap cryptocurrencies. These tokens are subject to larger liquidity and market risks.
This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.