Covesting, an EU licensed DLT services provider as well as a B2B software development company, further highlighted the capabilities and use of its COV token with a 2022 roadmap. The new roadmap further emphasizes the token’s utility.
Covesting launched its peer-to–peer copy trading platform on PrimeXBT in early 2015. This was followed by the launch of full functionality and utility for COV token users.
The company is now looking ahead to 2022 with the newly published roadmap. This will allow the company to provide additional utility to users of the token in the future.
But, there is more news. The company is now launching an aYield service. It allows people with little technical know-how to join the DeFi staking market and earn variable APY interest rates on their cryptocurrency holdings.
Yield Account Service can be used as an independent software module and is open to integration by third-party platforms. PrimeXBT has already integrated this service to their platform.
Covesting Future Roadmap Revealed
There are mentions in the roadmap of certain new functions with COv.
Covesting stresses that the first is to allow more COV token users to benefit from the token’s benefits by decreasing the amount of tokens needed for membership activation.
Advanced memberships are now $250. Premium memberships become $2,000 and Elite memberships drop to $20,000 in COV tokens.
In addition, COV tokens will allow you to make COV-denominated strategis and your followers can follow those COV tokened strategies. Covesting explained that strategies and followings denominated with COV will get a larger profit share (75% and 25%).
PrimeXBT users will have the ability to open margin trading account using COV, as their base currency or margin collateral. The 25% discount on trading fees will apply only when accounts are in COV. Followers of the copy-trading platform will get a greater profit distribution based on COV membership levels, not initial following equity.
Covesting further states that COV can be chosen to be the preferred currency for payouts. Strategy managers and followers will receive 75% profit shares, while strategy managers get 25%. Elite Covesting members have the opportunity to place their COV tokens within Covesting Yield Accounts, and will be eligible for daily rewards.
We are moving forward
Covesting has also shared their story from their 2017 inception to an operational feature that makes millions for their followers. The company has made many improvements over the years and is now implementing new features to benefit their customers.
They’ve added Numerous updates to copy trading were introduced in an effort to create a safer environment. As well as grades and public margin utilization charts, the max following limit, as well as grades, were added to the copy trading module. There is also a stop-loss option for followers.
Covesting also placed emphasis on the importance of community feedback. They made up updates This is a result of user data, community feedback and Covesting team innovation. For example, the update to the margin allocation charts makes it easier and more actionable.
Strategy managers with verified KYC status have been given an additional feature that allows them to lock in their gains.