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Ahmed Barakat
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CoinDepo has implemented a governance system that allows COINDEPO token holders to vote on specific platform decisions.
The development of the new management system empowers the owners of COINDEPO, based on the situation, the list of new products, marketing, exchange, technical cooperation, distribution of charity, and financial ideas, including burning mechanisms.
CoinDepo, founded in 2021, operates more as a non-banking financial institution than a trading platform and has grown steadily since its inception, holding more than $239 million in assets and managing and serving more than 112,000 users.
The platform’s main products allow users to earn compound interest on crypto deposits, borrow from those assets, and – soon – spend money via a crypto credit card. Governance now allows COINDEPO holders to direct the future of the platform.
How Governance at CoinDepo Works
The governance of the platform is managed by a system inspired by the principles of the DAO, using IPFS (InterPlanetary File System) to store a verifiable, readable voting record. Publishing the results to IPFS means that the record stays outside the CoinDepo infrastructure – independently verified by anyone who wants to check it.
One of the first topics expected to come before token holders is one of the most practical: what features should be added to the next platform?
The establishment of the authority marks a significant change in the COINDEPO token. COINDEPO’s token authority already adds value to other sectors by increasing yield and reducing borrowing costs.
In particular, owners can earn between 19% and 25% APR by depositing their tokens in an interest-bearing account, unlock up to +3% additional APR on fixed rates through the Advantage Program, receive an additional +2% APR bonus by choosing to pay interest in COINDEPO, and receive a loan discount of up to -3%. Participation in governance now expands its use, turning ownership of tokens into ownership of the platform.
Through governance, COINDEPO shareholders can participate in decisions related to:
- strategic platform initiatives
- material flow and platform maintenance
- marketing and community campaigns
- Charity work is important to distribute
Tokenomics & A Small Credit Card
The total amount of COINDEPO is fixed at one billion, with no further adjustments, and 40% is reserved for rewards and interest. The redemption system uses 20% of the quarterly profit to buy and burn tokens until 50% of the total stock is withdrawn, which means a cost reduction method directly linked to the platform’s financial performance.
For token holders, they can now access their money, reduce borrowing costs, and vote on decisions that determine how the platform looks – all from the same account.
The token is traded on major exchanges, including MEXC, BingX, BitMart, and others.
CoinDepo will also start offering plastic, metal, or credit cards that take the user’s credit and pay up to 8% in return for cryptocurrencies, working with more than 90 million merchants around the world and supporting Apple Pay and Google Pay. You can join the waiting list for further information about the installation.
