The KuCoin crypto exchange recently announced that Cosmochain (COSM) is now available for trading on their exchange platform. COSM is supported by the exchange with supported trading pairs such as COSM/ETH and COSM/BTC. Traders can now utilize the exchange’s website and its official apps for trading.
Cosmochain is a platform that unites content producers and cosmetics product users to cosmetics product suppliers. The cosmetics product supplier comprises of R&D centers, distributors, cosmetics companies, and OEM/ODM manufacturers. In this company-to-consumer platform, the Cosmochain team strives to solve the needs of both customers and companies.
While the KuCoin crypto exchange listed COSM, it is important to know that three different asset classes make up the Cosmochain ecosystem. These include Cosmo Coin, Cosmo Power and Cosmo Level. The first two tokes are managed by the blockchain and the third is an in-platform index for expressing the contribution level within the platform.
Cosmo Coin is the primary medium of exchange and economic activity within the platform. Companies use Cosmo Coin as a means of payment for utilizing various solutions within the company platform. Individual users use Cosmo Coin as a means of purchasing Cosmo Power that is necessary for in-platform activities. It acts as a medium of exchange to convert Cosmo Power that is acquired from activities into other currencies.
Cosmo Power can be obtained through community contributions such as voting up and down posts, posting reviews etc. It can be used to make payments within the platform and is usually given out as rewards for activities, as stated in the Ethereumworld news report. It can also be obtained by conversion from Cosmo Coins. Cosmo Power represents a level of contribution to the platform.
While the KuCoin crypto exchange listed another unique project that would interest investors, the third asset class Cosmo Level is an indicator and measure of a user’s contribution to the Cosmochain community. It cannot be converted from Cosmo Power or purchased by Cosmo Coin. Cosmo Level can only be accumulated through the activities carried out within the platform, as mentioned in the Cosmochain whitepaper.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]