Dear community,

We are pleased to reveal that the Covesting team has reached another major roadmap milestone and has delivered yet another COV utility for token holders to take advantage of.

Previously, we debuted new COV-denominated copy trading strategies and COV-denominated margin trading accounts on our B2B partner platform PrimeXBT. Today, we are proud to announce that any members holding COV tokens will receive a higher and more lucrative profit share within the Covesting copy trading module, depending on their COV membership tier.

Profit Share Increase For Covesting Copy Trading Module Followers

At its core, the Covesting copy trading module allows newcomers to tap into the skills and experience of other traders from around the globe, automatically copy their trading strategies and trades, and earn an ROI comparable to some of the best traders the platform has to offer.

In an effort to further motivate users to perform, the latest COV utility update focuses on improving the revenue sharing model for followers who hold COV.

Under standard platform conditions, the revenue share breakdown provides 20% to the strategy manager, 20% to the platform, and the remaining 60% goes to the follower. The latest COV utility increases the profit share for followers by up to 75% from all profitable trades.

To activate the exciting new utility exclusively for followers, users must select a membership level and lock the required amount of COV tokens within the My COV section of PrimeXBT. Information related to other compelling COV utilities is also conveniently located in this area.

This latest release significantly boosts profitability within the module for followers, builds a stronger case for COV token usability, and encourages market demand.

Further COV Token Utilities Planned In The Pipeline

The Covesting team is also close to delivering several additional COV utilities from the planned roadmap. In the next upcoming release, strategy managers will also receive added benefits from their COV membership. For example, Elite members will receive a 25% revenue share compared to the standard 20% revenue share from any profitable trades.

These latest and upcoming COV utilities are only a portion of what the Covesting team has planned in the pipeline for COV token holders and users of the Covesting copy trading module. The current company roadmap can be found at http://covesting.io/cov-token.

To begin taking advantage of the current COV token benefits and utilities, visit the MyCOV section of PrimeXBT and activate any of the available membership tiers. Be sure to stay tuned to the official Covesting blog and Telegram channel for updates on upcoming future COV token utilities and more.

New COV Utility Now Live: Higher Profits For Followers Holding COV was originally published in Covesting Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

In our last blog update, we walked the community through what the upcoming roadmap would look like for the remainder of the year and looked ahead toward what updates were on the horizon. As the Covesting ecosystem of products and services grows, so do the COV token’s many utilities. We take great pride in offering significant token utility through COV.

Today, we are moving forward according to our roadmap and are proud to introduce COV-denominated strategy and margin accounts.

Details About COV-Denominated Strategies And Margin Trading

The COV token continues to be used by strategy managers and followers to unlock a wide range of lucrative benefits and utilities. Current utilities include an increase in profit share and following counts and a discount in trading fees. COV tokens also unlock improved staking yields. The level of benefits scale according to the total amount of COV, with Advanced, Premium, and Elite Memberships.

As of the latest update, not only does COV token enable the incredible benefits listed above and more, but COV tokens can now be used as an asset to open strategy accounts or as account collateral for margin trading on partner platform PrimeXBT.

COV-Denominated Covesting Strategies

COV token now allows Covesting copy trading module strategy managers to create and launch COV denominated strategies in a little more than a few clicks. This will enable followers to follow such strategies using the COV token.

Moreover, other exciting future roadmap milestones will include an increased profit share for all COV-denominated strategies. Strategy managers will enjoy a 25% revenue share from any and all profits generated for followers compared to the standard 20%, regardless of membership tier. In addition, followers who follow COV strategies will benefit from the maximum 75% profit share instead of the standard 65%.

These significant future utilities will dramatically boost returns generated through the copy trading module for both strategy managers and followers while simultaneously increasing demand for COV tokens.

COV-Denominated Margin Trading

By using COV token as an asset, COV can now be used as collateral for margin trading accounts on partner platform PrimeXBT. COV now joins BTC, ETH, USDT, and USDC among the many available assets that can be used for account collateral to fund margin trading accounts.

COV-denominated margin accounts can be used to trade cryptocurrencies like Bitcoin, Ethereum, Dogecoin, Solana, and more; forex currencies; commodities like oil and gas; stock indices; and gold and silver. COV as collateral for margin trading provides token holders with additional use cases and value.

New COV Token Features Now Live, Future Updates Planned

COV-denominated strategies within the Covesting copy trading module and COV-denominated margin trading accounts are now available on PrimeXBT. In addition to the improvements for strategy managers and followers that are planned for the near future as part of our continued roadmap, COV will also be added to yield accounts to provide more attractive staking options for users.

We hope you enjoy and take advantage of the benefits these latest roadmap milestones introduce to users. We look forward to delivering all planned upcoming releases according to the roadmap and are thrilled to witness first-hand how COV token gains better and stronger utilities with each passing month.

Stay tuned for additional updates in the coming months.

Yours,
Covesting Team

Covesting Update: Introducing COV Denominated Strategies And Margin Trading was originally published in Covesting Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

As we draw closer to the end of the year, we are once again finding ourselves looking ahead, focused on what is next for the Covesting team and community at large.

Our vision remains ambitious. As such, we wanted to review the past roadmap of accomplishments and lead into the several updates and improvements we will be rolling out through the rest of the year and into the new year.

Copy Trading Module And General Improvements

Covesting has come a long way from the early copy trading concept created back in 2017 to today. The Covesting copy trading module has evolved into a fully functional feature that generates millions of dollars in profits for followers that rely on the innovative service.

The module also regularly receives updates based on user data, community feedback, and Covesting team innovations. For example, a recent update to the margin allocation chart makes the data more digestible and actionable. A verified status has also been added for strategy managers who have passed KYC, a take profit feature lets followers lock their unrealized gains, and much more.

We take our role in the global finance industry seriously, especially around safety and security. That’s why Covesting has added several updates to the copy trading module aimed at creating a safer environment for all users. A max following limit was introduced as well as grades, a public margin utilization chart, and a stop-loss feature for followers.

Covesting became one of the first-ever companies in the cryptocurrency industry to be granted a DLT license for a reason. We are pioneers in DLT software development who offer cutting-edge solutions that are built to service the new economy.

B2B Partnerships And Product Integration

As a B2B software developer, any and all of Covesting’s solutions can be integrated into other third-party partner platforms, wallets, exchanges, and other businesses where synergies can be found.

This business strategy allows Covesting to help other companies release ready-made, battle-tested software solutions that are proven to bolster user acquisition and retention goals, and improve overall user experience. At the same time, Covesting immediately benefits through the exposure to the existing user base of the platforms and companies we establish a partnership or agreement with.

The decision to pivot the Covesting business to a B2B provider has proven to be an effective move. Rather than investing in our own user growth, the user base grows naturally through the expansion of the partners.

Covesting has already partnered with one of the fastest-growing companies in the industry — PrimeXBT — to launch the first instance of the Covesting copy trading module. The partnership truly allowed us to bring outstanding awareness to the Covesting brand, properly test all our solutions in a live and active production environment, and receive all the necessary feedback from engaged users who helped shape the product and make it ever better over time.

Covesting Yield Account Development And Debut

Apart from our flagship product — the copy trading module — Covesting has also launched a Yield accounts service, which allows users with minimal technical expertise to participate in the DeFi staking economy and earn a variable APY interest rate on their idle crypto holdings with only a single click. Covesting Yield accounts connect users directly to popular DeFi applications like Curve, Uniswap, and Compound.

Covesting Yield accounts are also a standalone software module that is available to third-party platforms for integration. The solution caught the attention of existing B2B partner PrimeXBT shortly after development began. The integration into the award-winning platform was relatively fast, allowing a further boost to user acquisition and another unique advantage to offer to clientele.

Behind the curtains, development is a highly technological and complicated process. Our team works around the clock to improve the performance of all systems and ensure our products offer a solid value proposition and positive user journey from start to finish.

We hold our heads highest and take the most pride when our software releases show the quality, performance, and usability that the industry and its users deserve. We are excited to see what the future brings us next, and we are more eager than ever before to begin the development of exciting new tools and features going forward.

COV Token Ecosystem, Integration, And Tokenomics

The Covesting (COV) utility token is designed to be used by members of any software solution that Covesting develops. As the backbone of the Covesting ecosystem, COV offers unique incentive schemes for a new generation of investors and traders to take full advantage of.

Whether it is a trading fee discount in the Covesting copy trading module or improved staking yields within the Covesting yield account module, the COV token plays an integral role.

One of three membership plans can be activated by staking a certain number of COV tokens: Advanced, Premium, or Elite. Depending on the membership plan chosen, users will gain access to an exclusive set of benefits and utilities for use within the Covesting ecosystem of products.

In summary, the COV utility token offers multiple utilities to token holders geared toward boosting profitability across all Covesting products and services across the board — and any new services that release in the future.

Apart from the existing utilities available to Covesting users and the upcoming utilities to be described in the roadmap below, the Covesting team allocates up to 50% of all fees generated by Covesting products at randomly selected intervals. For more information about Covesting, COV token utilities, and to view all historical token burn data, please visit covesting.io.

As we stressed earlier, all Covesting B2B solutions are scalable and easily integrated into third-party platforms. Therefore, demand for COV directly correlates to the combined activity on all supported platforms.

The roadmap we are revealing below includes significant token utility upgrades that we believe going forward will bring more demand for COV tokens and greater usability. As always, the Covesting team takes inspiration from the feedback provided by the community when developing new utilities.

We listen to members’ feedback, as the community’s voice is critical for crucial decision-making. Data and analytics never lie, so we largely rely on those factors when making important business decisions as well.

It is also worth noting that the Covesting team remains the largest COV token holder, so rest assured we are highly motivated to make Covesting a successful, scalable business where COV token value represents the quality and growth of all of the products within its ecosystem.

The roadmap below will provide some visibility into the next several months of development into 2022 and how COV token utility is expected to improve over time.

Covesting Future Roadmap Revealed

To provide more transparency to our community members and clarity regarding further Covesting ecosystem development priorities, we have created this product roadmap.

Those who have been following the Covesting project from the very beginning have witnessed first-hand how we have methodically followed such a roadmap to improve our products all along. We are proud of our accomplishments, and the achievements have been all possible due to our talented team of engineers, loyal partners, and of course, the community of long-term project supporters.

For those who have recently discovered Covesting — you have found us at one of the most exciting times to become a part of our active community. The quality of our products speak for themselves with volume, and at this point, tools such as the Covesting copy trading module need no introduction.

Here is a tentative roadmap that helps to briefly understand our current, near-term future plans.

COV Token Membership Tier Adjustments

As the Covesting ecosystem continues to scale, accessibility becomes a greater focus due to a larger variety in user base, each with different levels of income and capital. To allow more users to take advantage of the incredible benefits the COV token unlocks, Covesting is working on reducing the required amount of COV tokens required for membership activation.

Advanced memberships will become $250, while Premium memberships will become $2,000, and Elite memberships will drop to $20,000 equivalent in COV tokens.

COV Token-Denominated Strategies

Currently, Covesting copy-trading platform users can create a separate strategy account for each type of base cryptocurrency offered, including BTC, ETH, USDT, and USDC (depending on the partner). In the future, users will be able to create COV-denominated strategies and followers will be able to follow these COV token-denominated strategies with COV.

To make COV an attractive base currency, followings and strategies denominated in COV will receive a higher profit share, with 75% and 25% respectively.

COV Margin Trading Accounts

Due to continued B2B partnership with PrimeXBT, PrimeXBT platform users will be able to open margin trading accounts using COV as the base currency and margin collateral, which will automatically enable 25% on all trading fees while using COV-denominated accounts. This unprecedented value is only possible with COV.

COV Membership Tiers Offer Higher Profits

Several new utilities are planned, each geared toward enhancing user profitability through the COV token. Copy-trading platform followers will receive a higher profit distribution depending on their COV membership tier, rather than initial following equity. Strategy managers holding COV and activating the Elite membership tier will receive a 25% profit share over the standard 20% rate.

Improved Profitability If COV Is A Payout Currency

For non-COV denominated strategies (BTC, ETH, USDC, and others) both follower and strategy manager will be able to select the payout currency for their profit share when closing out a following (or a strategy). If COV is chosen as the preferred payout currency, the maximum profit share of 75% for followers and 25% for strategy managers will be applied.

Additional DeFi And CeFi Protocol Integration For Yield Accounts

Currently, Covesting Yield Accounts connect to some of the most popular DeFi protocols today, such as Yearn.Finance, Uniswap, and more. In the future, more protocols will be added, as well as a connection to several CeFi (centralized finance) platforms. Through greater accessibility, the highest rates and greatest amount of options for users will be possible.

Earning Interest On COV Token Holdings

And finally, Elite Covesting members will receive an exclusive opportunity to stake their COV tokens in Covesting Yield Accounts and get access to daily rewards.

Please note that if new ideas that significantly impact the business are presented, we may shift the order of priority. We never know where this dynamic industry will take us next, so it is important to know we are here for the long run and will adapt to whatever the future brings next. We also do not plan to stop development even after we finish these major development milestones.

Due to the fact that Covesting operates on a B2B model, licensing its innovative technology to third-party providers such as PrimeXBT, we are primarily dependent on partner development plans, speed, security protocols, and compliance requirements. Therefore, the release of specific features can take longer than expected. However, such partnerships bring much more value in long-term, and we believe that any third-party integration is totally well worth waiting for.

We have not included enormous tasks such as bundling a spot exchange into a B2B product because, at the moment, it is too challenging to evaluate how much time this might take. But, we will undoubtedly provide more updates about the product’s development in the future.

Learn more about Covesting, COV token, and where to buy COV at covesting.io.

Thank you for your continuous support, and don’t forget to join the official Covesting Telegram community for more information, lively discussions, trading strategies, market insights, and much more. To keep up with the latest updates, follow us on Twitter and Facebook.

Sincerely,
Covesting team

Covesting 2021–2022 Roadmap: New COV Token Utilities And Much More was originally published in Covesting Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Following the listing of Covesting (COV) token on the PancakeSwap decentralized exchange (DEX), a guide on getting started will come in handy. The Covesting (COV) is an ERC-20 token built on the Ethereum Blockchain, but listing on the Binance Smart Chain (BSC) through a bridge will make trading on the BSC-supported DEXs possible.

In this guide, we would explore:

● The overview of the ERC-20-BEP 20 bridge,
● The Core Features of the PancakeSwap DEX,
● How to Connect your Hardware or Software Wallets,
● How to Swap COV to other tokens and vice versa,
● How to earn by providing Liquidity on PancakeSwap

Stay informed on all Covesting events by joining our communities on Telegram, Facebook, and Twitter.

As the cryptocurrency ecosystem and decentralized finance (DeFi) in particular advances, innovations are emerging. The presence of competition in the space makes inherent offerings even more attractive to the end-users. The BSC bridge rolled out by Covesting is aimed at expanding our user’s access to more flexible offerings from the biggest DEX on the BSC network.

Unlike the centralized exchanges, with PancakeSwap or any other DEX, users trade by swapping tokens using liquidity from the liquidity pool without registering or compromising their identity. This feature is made possible by connecting a supported external wallet to the exchange.

The ERC-20 — BEP-20 Bridge in Brief

While the COV Token will continue to be an ERC-20 token, users will also be able to use it on the Binance Smart Chain Network. This will be done by utilizing the Covesting ERC-20 to BEP 20 bridge.

Through the bridge, users can easily convert ERC-20 COV tokens to the BEP-20 supported version and vice versa. This switch from one chain to another may attract a transaction cost determined by the underlying network. Users should note that using the bridge for switching tokens may take a little time, depending on the network’s congestion.

Bridging from COV ERC-20 to the BEP-20 version means that the former will get placed into a deposit account on Ethereum while being minted on the Binance Smart Chain as BEP-20. When bridging back, the equivalent amount is burnt off on the BSC, while the deposited ERC-20 tokens are unlocked.

The Core Features of the PancakeSwap DEX

The PancakeSwap decentralized exchange has an easy-to-use interface and has an array of supported tokens cut across multiple chains. There are two domains:

● The Information Pool Domain and;
● The Domain for the core exchange products (Swapping and Liquidity Provision).

The information pool domain serves as a data aggregator for all of the tokens listed on the platform. Through it, we will monitor the COV token price and other related data such as the volume etc. The product domain page features swapping, liquidity provision, and the more custom-made PancakeSwap products such as Syrup Pools.

The Binance Smart Chain Explorer for COV can be accessed here

How to Connect your Hardware or Software Wallets

To connect your wallet to PancakeSwap, visit https://pancakeswap.finance/. At the top right corner, click on the “Connect” icon, and you will see the interface as shown in the picture below:

Either your software or hardware wallets can get connected to the decentralized exchange. A variety of software wallets, as displayed, are supported. Using TrustWallet for this illustration, click on the displayed TrustWallet icon, and using either your Android or iOS backed mobile app wallet, scan the QR-code to connect.

If you want to add COV BEP20 in Trust Wallet, because it’s not yet showing up in the search list, click on “Add Custom Token” and add it manually:

· Token Contract Address: 0x0f237db17aa4e6de062e6f052bd9c805789b01c3
· Token Name: Covesting Token
· Token Token Symbol: COV
· Decimals of Precision: 18

The process with software wallets like Metamask differs slightly. If this is your preferred wallet, add the BSC First by opening MetaMask, and selecting “Custom RPC” from the Network dropdown options.

You will have the option to add the Binance Smart Chain network in the “Custom RPC” settings.

Network Name: Smart Chain
New RPC URL: https://bsc-dataseed.binance.org/
ChainID: 56
Symbol: BNB
Block Explorer URL: https://bscscan.com

Once done, click on save. The COV tokens may also not be readily available amongst the list of supported tokens, and as such, you can add it using the smart contract address as previously explained.

If you are using a hardware wallet like Ledger, you will need to install a Brave browser that comes with Metamask extension pre-installed, or rather, install the Metamask extension directly on Chrome. Once you have installed the Metamask, you can connect your Hardware wallet by navigating through the Crypto Wallets tab. Here is the interface as seen on the Brave Browser.

Once the connection is correct, you will see at the top right corner of the decentralized exchange that you are connected. Then you can start swapping or providing Liquidity using your COV tokens.

How to Swap COV to Other Tokens and Vice Versa

The use of decentralized exchanges differs significantly from their centralized counterparts as there are no order books. The features on offer by decentralized exchanges, however, range from Swapping to Liquidity Provisions and Farming.

To swap COV on the PancakeSwap, go to the Trade section and click on exchange. The interface that shows up highlights a means to switch “From” any of the supported tokens “To” another. This switch can be from COV to BNB, BUSD to COV, etc.

Access COV on the PancakeSwap here or use the COV address: 0x0f237db17aa4e6de062e6f052bd9c805789b01c3

For transactions on PancakeSwap, you will need a small amount of Binance Coin (BNB), the BSC’s native cryptocurrency, to cover up fees. This fee is usually small and may not impact much.

Liquidity Pool Provisions

When there is no liquidity, there is nothing to trade and no price can be determined. To maximize liquidity and trading opportunities, PancakeSwap offers everyone the ability to provide liquidity for the liquidity pool. Providing Liquidity to any COV token pair will earn you a return through liquidity fees. This earning mode is one of the beauties of DEXs.

To get started, navigate to the Trade/Liquidity section, and you will see the interface below;

While here, you can click on “Add Liquidity” to begin providing Liquidity to any COV-supported pools.

To understand how Liquidity pools work in practice, consider the COV/BUSD pair. Swapping from BUSD to COV means people are paying BUSD to get COV which means that BUSD is added into the pool while COV leaves the liquidity pool.

Let’s imagine the COV-BUSD liquidity pool has 2,000,000 COV worth $0.5 each and 1,000,000 BUSD valued at $1 each. It implies that for every 1 BUSD, you get 2 COV tokens based on a 2:1 basis. If a user swaps 50,000 BUSD to COV, they supply 50,000 BUSD into the liquidity pool and take out 100,000 COV tokens. This trade creates an imbalance in the pool as there are now 2,050,000 BUSD and 1,900,000 COV tokens remaining.

This imbalance has altered the original ratio, and we now have approximately 1.92:1, which means for every 1 BUSD, you get less COV tokens. In practice, the DEXs have highly functional smart contracts that pick these changes as trades go on simultaneously.

To facilitate the provision of liquidity, PancakeSwap pays out a defined percentage of swap fees to the liquidity providers corresponding to their share percentage in the pool. If you own 10% of the total liquidity pool, you get 10% of the swap fees generated.

Aim to Catch up With Other PancakeSwap’s Features

Besides the traditional swapping and liquidity pool offering from PancakeSwap, users can also take advantage of the “Farms” feature. If you provide liquidity as described above, you earn LP (liquidity provider) tokens. These tokens are essentially a confirmation of your deposit. After that, you can Stake these LP tokens to earn CAKE token, which is native to PancakeSwap DEX, and then stake CAKE to earn other tokens or even more CAKE.

The PancakeSwap Liquidity Pool Farm has this look:

Conclusion

The Covesting team understands that the decentralized finance world as we have it today thrives with the availability of multiple available alternatives to anyone, anywhere. While our addition of the Binance Smart Chain aims to complement the original Ethereum Network, users are now free to choose which network suits their needs the most. Our innovation will not end here, and we will keep you abreast of every new update through our official channels.

Yours,
Covesting team

A Detailed Guide on How Covesting (COV) Works on the Binance Smart Chain and PancakeSwap was originally published in Covesting Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Dear community,

We are excited to reveal what the Covesting team has been working on for some time now.

As a token-centric ecosystem, we aim to make the COV token an integral part of every application we build, starting with the Covesting copy trading module and beyond. The COV token is a utility token that unlocks a plethora of unique benefits and features exclusively for token holders within the Covesting ecosystem. All Covesting B2B solutions are scalable and can be easily integrated into any third-party platform. Since COV tokens are used to enable multiple benefits and discounts, the demand for COV correlates with the combined activity on all supported platforms.

In this latest blog update, we’re introducing the coming ambitious updates and improvements we’re making to COV token utility and how it impacts users in the Covesting ecosystem.

Phase 1 (May 2021): Boost Copy Trading Profits By Staking COV Tokens

The Covesting copy trading module recently celebrated its first anniversary since its launch. Since the very beginning, the copy trading module was a runaway success, rapidly growing across the global trading community through word of mouth.

News spread virally regarding the huge profits traders were able to achieve both for themselves and for their followers who had been copying their trades. In one example, a strategy manager turned $400,000 into $8.5 million in only a few days, all while making a fortune for their followers at the same time.

The introduction of COV token utility has improved conditions in favor of even more profits for followers and strategy managers who hold COV tokens, and much more utility is on the way. We have a solid development roadmap with a vast variety of upcoming features that will further improve the platform and COV token utility.

Building into COV token value further, we are introducing an innovative staking mechanism. By locking up COV tokens, users are granted with three tiers of account membership status — Advanced, Premium, or Elite — and enjoy a wide range of benefits within the Covesting ecosystem.

The table below represents the upcoming COV staking module that will be released during Phase 1:

The COV token will benefit all membership status levels in multiple ways, ultimately increasing the profitability of the product in favor of members who stake COV tokens. For example, strategy managers can reduce their trading fees; followers can eliminate entry fees and improve the percentage split they earn from profitable trades.

Now, let’s move on to the next even more interesting Covesting ecosystem developments.

Phase 2 (Q3 2021): Generate A Competitive APY With Covesting Yield Accounts

Recently, we announced the addition of new Covesting Yield Accounts coming to PrimeXBT. The explosion in demand for DeFi and staking products that generate an APY on idle crypto assets has prompted Covesting to develop a similar system that lowers the barrier of entry to such products.

The Covesting Covesting Yield Account software simplifies the process for those who don’t have the technical expertise or don’t have the time to dig into DeFi 24/7 but still would like to generate a return on their crypto. You can learn more about what Covesting Yield Accounts offer to the greater crypto community by visiting a blog on the subject.

As a critical piece of the future of the Covesting ecosystem, Covesting Yield Accounts will also provide additional features and benefits unlocked through COV token utility.

Users who stake COV tokens will receive a massive APY boost, earning as much as 2x and high returns over standard variable rates. As per the table below, users can boost returns simply by holding COV tokens:

We are confident that these significant, upcoming product releases, including COV Staking and Covesting Yield Accounts — both enhancing the power of the COV utility token — provide a unique and diverse value proposition to all token holders, users, and supporters.

Earn By Becoming A COV Liquidity Provider

The emergency of DeFi protocols such as Uniswap has introduced a new way to earn from crypto assets called automated market making. Rather than an exchange providing liquidity, these protocols pool liquidity from token holders themselves.

For example, on Uniswap, token holders of both ETH and COV must each provide liquidity by locking up tokens on both sides of the trading pair. Users receive rewards for doing so in the form of an APY. These rewards are distributed to liquidity providers based on the trading fees from those that would rather trade the COV/ETH pair instead.

Using Uniswap, COV token holders and provide liquidity and earn rewards. To learn more about this process and how providing liquidity via Uniswap works, check out this blog post.

Liquidity is an important factor in any platform or market segment. In order to enhance liquidity for COV token further, we will be building an ERC20-BSC bridge that allows users to easily switch between Ethereum-based ERC-20 tokens to Binance Smart Chain.

COV token support on multiple blockchains adds tremendous potential opportunity, in addition to reducing the cost of transactions. Ethereum gas fees have grown as the crypto bull market developed, creating demand to leverage additional blockchains and reduce costs across the community.

Increasing ETH gas fees related to Uniswap and DeFi also gave rise to PancakeSwap, the leading DEX platform on Binance Smart Chain. The popularity of Binance Smart Chain and PancakeSwap have already had a direct impact on reducing the gas costs associated with Ethereum by providing more options overall.

COV liquidity pools will be soon available on PancakeSwap via Binance Smart Chain, in addition to Uniswap on Ethereum.

Burn COV, Burn!

On top of the several benefits already outlined, each COV token holder greatly benefits from token burn programs. Apart from the various incentives for token holders that lock up their COV, Covesting aims to allocate a portion of platform earnings to a systematic token burn program. In more simple terms, Covesting is systematically buying COV tokens on exchanges — both centralized and decentralized — and “burns” them.

“Burning” means that purchased tokens are removed from circulation and locked into an irreversible smart contract address for perpetuity, consequently decreasing the total supply of COV tokens.

This form of reward sets best practices for the COV token economy and simultaneously serves the best interests of Covesting token holders. By systematically ‘burning’ COV, we reduce the total floating supply and support the deflationary nature (scarcity) of the token.

Thus far, Covesting has burned over $500,000 USD worth of COV tokens. A burn table is available at covesting.io/cov-token or within the COV tab of the PrimeXBT dashboard.

Conclusion: Looking At What Is Ahead For COV Holders

COV token holders are now used to receiving multiple benefits, discounts, and account enhancements that significantly improve profitability and enjoyment of the Covesting copy trading experience.

We have sought to follow all industry best practices when developing the utility surrounding the native COV token. Incentive schemes were designed to provide deep utility that would encourage exponential demand as the ecosystem grows while also creating tokenomics that, through token burns, support long-term value for token holders.

We aim to integrate the COV token into all Covesting B2B solutions and continue to offer an attractive and unmatched value proposition to the trading community at large and all active users of our innovative solutions built for a new generation of investors and traders.

It is essential to note that COV tokens should not be treated as an investment. Related risk warnings and appropriate disclaimers will accompany all steps related to COV purchase and/or staking.

Risk disclaimer: COV tokens are a utility token subject to market fluctuations, and therefore, Covesting is not responsible for any gain or loss associated with purchasing COV tokens. COV token holders bear all risks associated with market conditions.

Announcing COV Token’s New Utilities was originally published in Covesting Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Dear community,

The cryptocurrency industry is evolving, and with each passing day, new innovative products and services are reshaping the landscape of digital finance. Along with NFTs and all-things DeFi, one of the hottest trends in crypto over the last several years has been the emergence of staking.

Crypto staking and other yield generating products have opened up a completely new experience for people who have been starving for returns for years in traditional finance.

In many countries across the globe, banking interest rates have been at around 0% for decades. Therefore, the real value of money actually decreases with every bank deposit due to the rate of inflation exceeding any interest.

Thankfully, modernized crypto-centric services provide a stable return on USD–backed coins, at a significantly higher return and at more than enough to compensate for inflation.

Staking products allow for a high variable rate of return on idle crypto assets, otherwise known as an APY. The blockchain-based solution provides returns for those that lock up crypto assets for a period of time. The more assets or, the longer the period, rates typically improve further.

Crypto investors appreciate having the ability to earn fixed interest and income from crypto assets, in addition to more traditional ways to make money in crypto, such as trading. It has revolutionized digital finance and created a storm that’s still sweeping across the industry today.

Due to enormously high demand for staking and yield-generating crypto products, we are excited to reveal the latest development from the Covesting team: Covesting Yield Accounts.

Covesting Yield Accounts work exactly as the name implies. The new service generates a yield on your crypto holdings. Instead of just letting cryptocurrency assets stay idle, users will be able to transfer it to a Covesting Yield Account on PrimeXBT, and receive variable interest over time.

We remain heavily committed to regular updates and polishing of the Covesting copy trading module on PrimeXBT, in accordance with our company roadmap. However, after continued successful partnership and synergy between the two teams, a new joint-venture began.

Covesting will take lead in software development and provide technology to PrimeXBT under the ongoing B2B licensing agreement. The launch of the new staking service and Yield Accounts are slated to launch this coming Q3.

In this introductory blog, we’ll highlight the key advantages and features of the exciting new upcoming module to be launched exclusively on PrimeXBT.

Early Birds Get +1% APY

Covesting Yield Accounts are planned for Q3 2021. Those who join the waiting list early will receive an extra +1% bonus on top of standard APY rates.

To join the waiting list and enroll for the +1% bonus, all you need to do is:

- Login or Register on PrimeXBT
- Visit the the Covesting tab, then click Yield Accounts
- Hit “join the waitlist”

And that’s it! We’ll notify customers when the service has been fully launched. Upon activation, the +1% bonus will be added to the APY of top crypto assets on PrimeXBT during the first month.

Earn APY Interest On Crypto Assets

Whether you are an active day or swing trader or prefer to buy and HODL — there’s always more room for profit. Adding in an APY interest rate that beats banks is the perfect compliment to crypto trading.

That’s why the Covesting team, in partnership with PrimeXBT, is offering to put your crypto to work for you. The innovative Covesting Yield Account experience connects users to top DeFi applications for the highest possible yields.

In essence, Covesting Yield Accounts connect you to several decentralized finance (DeFi) yield generating protocols to offer a highly attractive APY. APYs in crypto staking are never fixed due to the constant fluctuations in supply versus demand, as well as other market-related factors.

Similar to all the transparency we provide via the Covesting copy trading module and leaderboards, we also plan to make it easy to view just how much estimated yield can be expected currently on a real-time basis. This way, users can track earnings, increase deposits, make withdrawals, and more with speed and ease.

We aim to provide users with exposure to the best possible returns for the lowest risk, as well as to offer industry-leading yield conditions with unparalleled clarity. Covesting simplifies the process of investing in DeFi for people who have no time to keep a finger on the pulse of the DeFi industry or do the proper research that’s necessary. Covesting Yield Accounts do all the work for you.

How Do Covesting Yield Accounts Work?

So where exactly is the interest coming from? In a nutshell, it is the result of your funds facilitating a variety of crypto market activities. By utilizing the service, you authorize your funds to be used for lending or market making activities, and in turn receive an interest payment for it. The lenders can be various market participants such as trading platforms, institutional market-makers, lending platforms, and more.

A Covesting Yield Account is similar to a traditional bank savings account in this sense. When you put your funds into a savings account in a bank, you give your bank permission to use your money. For example, banks regularly use customer funds to lend to third parties, invest in bond markets, and other financial activities.

For that, the bank returns you some interest, but barely. A Covesting Yield Account works in the same manner — you receive interest for the use of your funds in various DeFi operations. The difference is that with Covesting, the rates are higher than what traditional savings accounts offer today.

As low as $100 worth of idle crypto assets are required to start, and interest is paid out on a daily basis. Covesting Yield Accounts are highly flexible, letting users withdraw their staking amount with interest at any time they desire.

There are no lengthy lockup periods, so withdrawals are made once per day. After the withdrawal is completed, the user will receive the full amount plus any accrued interest. With no minimum investment period, users have complete control over their funds. Please note, however, that interest redemptions are actioned at the end of the 24-hour payout period and can take a few hours to be processed.

How Do I Start Earning?

PrimeXBT offers a client-focused approach, and with Covesting, user experience is our highest priority. Once the finished product is launched later this year, it will become extremely simple to stake your crypto and earn highly competitive yields on a variety of supported crypto assets.

All users will have to do is log into their PrimeXBT account dashboard, visit the Covesting tab, then click on the new Yield Account section to get started. Here you’ll be introduced to the service dashboard, as well as current market rates.

For your comfort and performance tracking, we’ve included detailed charts and metrics on historical yields on any selected currency supported by PrimeXBT.

Below there, an APY calculator will provide a snapshot of any estimated potential earnings after entering information on which and how much of any asset you want to stake.

Remember, these rates fluctuate with market conditions and liquidity. APYs are updated in real-time, so Covesting Yield Account users will want to pay close attention to the provided information. It is the user’s sole responsibility to manage these rates periodically for the highest returns

Unmatched Transparency And Flexibility

Once a user selects a crypto asset, a number of coins, and begins staking, the asset of choice will appear in the Current Stakings tab.

There, users can access information about the interest they’ve already earned, how much they are expected to make, and more.

Each individual crypto asset will include a separate, dedicated staking page with additional information. This section also provides a historical chart of all APY related to the asset being staked, the equity curve, and other critical metrics for performance measurement. This is also where users can terminate the staking setup and make a request to withdraw any staked amount along with the total interest accrued.

Example: How Much Can I Make?

Let’s put some numbers into play and see how much return Covesting Yield Accounts could generate in a typical scenario. Assume you stake 50,000 USDC for a total staking period of two months with an average APY of 10% for the first month, and an average APY of 17% for the second.

In this case, the first month will bring you (50000x10%)x31/365=424 USDC. The second month will bring you (50000x17%)x30/365=698 USDC. Taking advantage of this new staking solution, would earn you 1122 USDC of interest in only two month by simply staking crypto that’s just otherwise sitting there, in Covesting Yield Accounts.

Stake. Earn. Repeat

We aim to build the Covesting Yield Account under the same simplicity and quality standards of all Covesting products, including the copy trading module. This new module, designed to bring crypto users interest on crypto assets, is a world-changing technology with the potential to enable profits otherwise inaccessible through traditional savings accounts. By launching Covesting Yield Accounts, users with limited technical know-how will be able to benefit from yield-generating instruments.

Importantly, the addition of another innovative product within the Covesting ecosystem will further enhance the powerful utility unlocked by the native COV token. The Covesting team will provide more information about new upcoming token utilities within the next couple of weeks. Stay tuned to official Covesting channels for more details.

Disclaimer: The new Covesting Yield Account service acts on behalf of users to participate in various DeFi products. It obtains and distributes realized earnings autonomously and allows users to access DeFi products with a single click. However, Covesting nor PrimeXBT assume any liability for any losses associated with the project due to on-chain contract security issues or other unforeseen technical challenges.

Happy staking!

Introducing New Covesting Yield Accounts On PrimeXBT was originally published in Covesting Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

The use of decentralized exchanges (DEX) differs significantly from the more traditional centralized exchanges. While the difference is more pronounced when it comes to the trade patterns, the liquidity or cash flow with which both operate also differs significantly. In any DEX such as Uniswap, market participants provide cash flow, while in centralized exchanges like Binance, the company supplies liquidity.

Getting started on either of the exchanges may be intimidating to new users. As such, we are dedicating this article to provide details on how to trade Covesting (COV) tokens on Uniswap. In this article, we would talk about;

• The two Uniswap domain types,
• How to connect your Software and Hardware Wallets
• How to Swap COV to other tokens and vice versa, and;
• How to provide liquidity to Uniswap Pool.

At Covesting, we are always committed to bringing our token holders the right resources to maximize value. Follow us on our social media handles, including Telegram, Facebook, Twitter, to get the first updates as it happens.

The two Uniswap Domain Types

Uniswap is one of the foremost DEXs around in decentralized finance (DeFi) today, and per its growth, the platform has two dedicated domains to serve its users. These domains include;

• The information hub at https://uniswap.info/ where users can find check out the prices of listed tokens, trading volumes, swap pairs, and more, and;
• The main exchange domain at https://app.uniswap.org/, through which swapping, liquidity provision, and other activities occur.

Each of these domains is functional and comes in handy at all times. This guide pays more attention to the https://app.uniswap.org/ domain.

How to connect your Software and Hardware Wallets

To connect your wallet, visit the main exchange domain and in the top corner of the homepage, click on the “Connect to a wallet.” This interface pops up;

Using a software wallet that supports WalletConnect, such as TrustWallet, click on the “WalletConnect” icon. With the wallet app installed on your phone, scan the QR-Code to connect you directly to the Uniswap exchange. Once thriving, you will be able to see proof that you are connected at the top right corner (with the wallet keys visible), as shown in the picture below.

The process for a hardware wallet is also relatively easy but best with the Brave Browser. On the Brave Browser, Click on “Connect to a wallet.” After that, select the “Install Metamask” and follow the instructions.

Once you have installed the Metamask, surf through to the Settings/Crypto wallets on the Brave Browser. Through the pop-up that becomes revealed, click on “Connect Hardware Wallet” as shown below;

The Brave Browser will indicate that the connection is successful and visible at the top right-hand corner alongside your current wallet balance.

How to Trade (Swap) COV Tokens

After the wallets are duly connected, the Uniswap exchange swapping interface looks like the picture below;

The balance shown atop the ETH icon will be the total amount of Ethereum resident in your wallet when you want to initiate the transaction. You will then need to select the token you want to swap to, which in this case, maybe Covesting (COV). If the COV token is not part of the tokens list, you can add it by pasting the COV Token Contract Address found here in the search box or importing it from Coingecko.

Once you have added the token, you can select the amount you want to swap and complete the transaction.

Earn Fees By Providing Liquidity

Traders or users of Uniswap and other decentralized exchanges keep the platforms running by providing liquidity. Liquidity provision is how users deposit a portion of their tokens to support a particular token pair in a trading pool.

In practice, if there is a pool that contains the ETH/COV pair, users can deposit a certain amount of Ethereum and Covesting into the pool so that traders can have enough funds to withdraw or swap whenever they need to. There is no defined ratio for providing this liquidity, and it may be 10 ETH to 50 COV tokens or 100 ETH to 1000 COV tokens.

The Pool interface on Uniswap looks just as shown below;

When you complete a Swap trade, the liquidity pool often experiences an imbalance, and the current ratio determines the price at that time.

It is worth noting that liquidity providers are entitled to incentives from trader’s fees using the pool. The value of reward any liquidity provider gets is ultimately dependent on the share percentage of the liquidity provided. Whenever a trade occurs, a 0.3% fee is charged to the transaction sender. This fee is distributed pro-rata to all LPs in the pool upon completion of the trade. Check out this article to learn better how fees are generated and distributed among Liquidity Providers.

Liquidity Providers on Uniswap or any DEX are not immune to losses. Liquidity providers should note that while these liquidity provisions can serve as a way to earn money, the pools may suffer impermanent loss, as explained here.

To Cap it All

Decentralized exchanges may be new to the entire financial landscape, but they present one of the most accessible interfaces for users to interact with. While we at Covesting remain committed to embracing the new trends as they are unraveled in the crypto space, we would continue to bring more educational materials to help our investors and token holders stay abreast these trends.

For any specific questions, connect with us through our communities, and we will be available to provide the help you need.

Yours,
Covesting team

Guide on How to Trade Covesting (COV) on Uniswap Decentralized Exchange was originally published in Covesting Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Dear community,

One year ago today, on April 2, 2020, the Covesting copy trading module made its full debut on the award-winning trading platform PrimeXBT, and the peer-to-peer trading community has grown substantially ever since.

Since then, a perfect storm has been brewing. A massive bull market has been breaking out in cryptocurrencies, bringing unprecedented demand and new user growth to the Covesting module, PrimeXBT, and the COV token.

To cap off what has already been an incredible first anniversary celebration, Covesting and COV token holders now have even more to celebrate with COV breaking above $1 for the first time in 2021.

Continuing with our celebration, we’re highlighting the top Strategies on Covesting one year later and taking a trip down memory lane to look back on how far the copy trading module has come in just one year. With COV Staking coming and more exciting updates in the near future, 2021 and beyond is brighter than ever for the Covesting community. Let’s celebrate!

Crypto Bull Market Blasts COV Utility Token Above $1

In a combination of excitement and anticipation of the Covesting module’s milestone first anniversary, the crypto bull market finally getting warmed up, regular token burns, and continued demand and usage within the Covesting copy trading module, has pushed the price per COV token over $1 for the first time in 2021.

COV token holders have so much to be celebrating, and things are only getting better for the utility token’s future. The newly expanded “My COV” section within the Covesting copy trading module on PrimeXBT is only a sign of what’s to come, highlighting the benefits offered to the trading community.

Followers can use the token to avoid entry fees for new followings, improve their profit share, and Strategy Managers can reduce trading fees. COV is trading on Kucoin, HitBTC, and Uniswap.

COV Staking Is Coming, Estimated For Q2 2021

A highly requested Staking mechanism will be added to COV, expected to be delivered in Q2 2021. When COV Staking launches, token holders will be able to benefit from multiple incentive schemes and be rewarded alongside the company’s general growth it sees in the future.

COV token demand is directly tied to our success, and we aim to share that success with the community that drives that demand.

Looking Back One Year Ago Through Now: Top Traders Reach 4,000% Profits

The Covesting copy trading module was built on a passion to launch a legendary trading product that spread by word of mouth like wildfire throughout the trading community, and we are proud one year later, we are well on our way to achieving that goal.

Top traders on the Covesting leaderboards are boasting as much as 4,000% in total profits currently, and the sometimes friendly, sometimes not-so-friendly, competition always brewing between traders using the module is pushing Strategy Manager to reach for five-star status and up their games.

Top Strategy Managers have amassed hundreds of followers each, and there have been stories told of life-changing wealth being generated through the platform — both for Followers and the Strategy Manager themselves. In one example, one Covesting trader turned $400,000 into $8 million in only four days, making their followers rich at the same time, and earning a fortune themselves in success fees.

As Follower capital grows, these users are then turning into Strategy Managers themselves, helping the community to grow further.

New ETH, USDT, and USDC Margin Accounts For Covesting Module Users

The Covesting copy trading module is exclusively available at PrimeXBT, an advanced CFD trading platform offering crypto, forex, commodities, and stock indices. The platform lets Covesting traders tap into today’s hottest markets, including Bitcoin, oil, silver, and much more, with long or short positions to profit from whichever direction the trend turns next.

The current bull market has led to explosive growth in Ethereum’s reach, as well as demand for cryptocurrency stablecoins. As such, PrimeXBT has chosen to enable additional options for margin accounts and multi-currency support for ETH, USDC, and USDT.

Bitcoin will continue to be offered and currently still represents the majority of Covesting Strategies. However, the introduction of new multi-currency accounts will offer Covesting traders a variety of benefits, including more options for portfolio diversification. Most of all, Covesting traders can now avoid any of the risks associated with using BTC as a base account margin currency.

By utilizing stablecoins as margin collateral, traders don’t need to adjust expectations around PnL due to unexpected Bitcoin or Ethereum volatility.

Reaching A Milestone And The Roadmap Ahead

There’s much more coming in the Covesting development roadmap pipeline, ensuring more anniversary celebrations with much more to celebrate for many more years to come.

Thank you to the community for making the Covesting copy trading module’s first year a resounding success. Join us in celebrating the achievement and in looking ahead at a bright future for Covesting, the community, and the COV token.

Covesting Module First Anniversary: COV Breaks $1, Latest Developments, & More was originally published in Covesting Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Dear community,

As you are already aware, the Covesting team has focused its efforts on further developing our B2B offering over the last several years. The result has seen the Covesting copy trading module’s full launch with COV token utility on PrimeXBT, which has grown rapidly in demand in recent months.

Since Covesting made its pivot toward establishing B2B partnerships with other industry leaders in their respective spaces, the B2B business has been much more successful compared to the previous B2C model. Simply put, our “why compete with others when we can partner with them” approach has been the right decision for Covesting.

Building On Success: Shifting Fully From B2C To B2B In The Future

The Covesting exchange was launched in 2018 during a challenging cryptocurrency market environment. From then forward, competition has only become more fierce overall. In addition, maintaining cryptocurrency exchange services requires significantly more capital and a much larger team, including compliance, human resources, and other critical departments.

All things considered, the Covesting team has made the decision to optimize costs further and reallocate resources toward where our efforts are bearing the most fruit, which includes discontinuing cryptocurrency exchange services to retail customers.

Covesting will continue to focus its efforts around software development and licensing services and institutional solutions to B2B partners globally.

We stand by our original decision to adapt our strategy to the continually evolving cryptocurrency market and believe the decision to limit services to retail customers is also in the best interest of the business, as well as the Covesting community. Leveraging the existing user base of established partners and industry leaders will allow the Covesting team to achieve even faster growth than what would have otherwise been possible.

Retail Services Discontinuation Roadmap: What Customers Can Expect

The discontinuation of Covesting.io exchange related operations will be implemented according to the following roadmap:

1) Customer Notification: A notice will be sent to all Covesting clients with additional information regarding the roadmap and which steps — if any — need to be taken.

2) Registration And Deposits Suspended: As of March 10, 2021, all deposits will be suspended for retail customers. Please cease any deposits activity as soon as possible.

3) Withdrawal Deadline: The Covesting.io website and withdrawals will remain fully operational until June 10, 2021. We kindly request all users withdraw any funds by this deadline.

4) Services Discontinued: As of June 11, 2021, cryptocurrency exchange services will be entirely discontinued for Covesting retail customers.

Beyond June 11, 2021, any users with a previously active account with an outstanding balance may contact support@covesting.io to make a request to withdraw it. Please also contact our customer support with any questions about the discontinuation process.

What’s Ahead For Covesting: 2021 And Beyond

The Covesting team will continue to follow the path of establishing additional B2B partnerships and further developing existing partnerships and services offered on third-party platforms. The model has proven highly successful, and we are confident the latest reallocation of resources will better realign the Covesting business for continued success in the future as the industry expands.

Stay tuned to our official channels for more coming updates on the Covesting business strategy, the Covesting copy trading module, the COV token, and more.

Covesting To Discontinue Cryptocurrency Exchange Operations For Retail Customers was originally published in Covesting Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

To provide more transparency to our community members, and bring clarity regarding further Covesting module development priorities, we have put together this roadmap.

This roadmap should serve as indicative plan / rough vision of where we want to take Covesting module in the near future. It should not be treated as a development obligation of any sort.

We may discontinue development or remove any of these features from this roadmap in case we face certain difficulties during early development stages, or we simply may decide that one feature or another is not be efficient business wise to continue supporting/developing it. Certain regulatory environment changes may also affect the provided roadmap and available features/tools on the Covesting platform.

Therefore, do not treat the provided roadmap as something that is “set in stone”. As always, we will adapt to ever-changing cryptocurrency space and will apply best industry practices. We want to make Covesting a safe place to trade and follow your favorite strategies, while always prioritizing risk management, and preventing fraud as well as market manipulation by any possible means.

Dev Roadmap

All upcoming features provided below are not listed in any specific order. Priorities will largely depend on statistical data that we gather, observations, community demand, market conditions and development schedule of our partner platforms.

Due to the fact that Covesting runs on B2B model, licensing its technology to third party providers such as PrimeXBT, we largely depend on their development plans as well as development speed, security protocols and compliance requirements. Therefore, development of certain features may take longer than expected.

Released features (Aug-Dec, 2020)

• Fully re-developed following/copy-trading mechanics to reduce rollover and allow instant following/unfollowing — see more
• Dynamic margin utilization chart
• Trading and risk management related metrics such as success rate, drawdown etc.
• COV token dedicated page and utility integration
• COV token treasury operations — secure deposits and withdrawals
• COV token utility activation from BTC balance
• COV token burn mechanism
• COV utility 1% entry fee removal
• COV utility trading fee discount (up to 75%)
• COV utility success fee improvement
• Rating/star system based on multiple metrics
• Basic filter/search functionality
• Stop-loss feature for followers
• CPA and referral program integration
• Public pages of all strategies for sharing and marketing purposes
• Risk management — max. following limits, or caps
• Risk management — grades introduction
• Historical performance column charts for months/days
• Responsive interface for mobile devices
• ‘Verified’ status for managers who passed KYC
• Improved performance and security features and behind the scenes improvements

Upcoming features

• COV utility — staking as alternative to flat fee in COV for all existing utilities
• Support of stable coins, other crypto and possibly even FIAT as a collateral for trading and following subject to global support of other currencies at PrimeXBT
• Uniswap widget integration for COV staking and easy purchase on-chain
• Rating improvement — favorites tab
• Managers — show all trading history to their followers optionally
• Managers — custom margin setup during strategy creation
• Traders blog — one-way communication with followers/announcement channel inside the strategy
• Take profit feature for active followings
• Additional risk metrics: growth rate, max daily draw down, standard deviation, calmar ratio, sharpe ratio, volatility ratio, recovery factor
• Additional transparency metrics — pie chart with most traded assets of the strategy
• Appropriateness test / verification for strategy managers
• Custom strategy offers allowing for adjusted success fees proportions between follower and a strategy manager during strategy setup
• Custom margin settings allowing for adjusted max leverage during the strategy setup
• Periodic profit distribution once per quarter/month/week — preset during the strategy setup
• Advanced search/filter functionality
• Covesting as a plug-n-play module
• Additional COV token utilities depending on users’ feedback, observations, possible use cases etc.

At Covesting we never stop moving forward and adopting to whatever this dynamic industry brings us. As you can see — there has a lot been done to improve the Covesting module since the day it was fully launched in August 2020.

We have finally introduced long awaited COV token utilities, we introduced multiple risk management features and limitations to protect our users and make business more sustainable. Our engineers have massively improved performance of the Covesting front-end as well as backend (copy-trading engine) to facilitate significant amounts of orders and there is still much more to be done in order to make users experience even better.

Covesting is only few months old since its public launch, and we are extremely excited about how things developed during this short period of time. Business development-wise, once the product is fully developed and time-proven/tested, we will aim to get more B2B partners such as PrimeXBT on board.

If you have any feedback regarding the Covesting module or any ideas/suggestions that you believe would improve Covesting even further — feel free to join our Covesting community telegram group and share!

Yours truly,
Covesting

Covesting Development Update 2021 was originally published in Covesting Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.