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The COV token
COV is a utility token designed to provide benefits for Strategy Providers and Copiers. By activating a COV membership plan you can access various levels of utility benefits, based on the amount of tokens you've locked in.
Additionally, you can use your COV tokens as margin to trade with leverage on CFD Trading accounts.
CFD Trading accounts in COV provide you with a 25% discount on all trade fees, and do not require a COV membership plan.
Available utility benefits
Each COV Membership plan - Advanced, Premium and Elite, provides 4 utility benefits of the COV token. The level of utility benefits will depend on the membership plan you've activated.
1. Reduced/removed entry fee for Copiers
This utility allows Copiers to receive a 50% or a 100% discount on entry fees for all Copyings.
Any Copying started with the Advanced COV membership is charged a 0,5% entry fee instead of 1%.
Any Copying started with the Premium or Elite COV membership is not charged an entry fee.
2. Increased profit share for Copiers
This utility increases the profit share of all of your Copyings by reducing the profit distributed to the platform:
Advanced | Premium | Elite |
65% profit share | 70% profit share | 75% profit share |
3. Increased/unlimited individual copying limit
This utility increases the amount of funds you can use to copy a single Strategy:
Advanced | Premium | Elite |
10,000 USDT | 15,000 USDT | Unlimited |
4. Reduced trade fees for Strategy Providers
This utility provides a discount on all trade fees for Strategy Providers:
Advanced - 10% discount
Premium - 20% discount
Elite - 30% discount
How to activate a COV membership plan
Click 'Copy Trading' on the Accounts dashboard
Select 'My COV' from the menu on the left
In the 'COV Membership' section, click 'Activate' under the selected membership plan
Once your membership is activated, COV token utility benefits will automatically apply to all of your new Copyings or Strategies.
To upgrade your COV membership, simply click 'Activate' under the new membership plan you've chosen.
To downgrade your membership, you'll first need to deactivate your existing membership plan to select a new one.
To deactivate your COV membership plan, you will first need to close all active copyings in Strategies.
Where can I buy COV tokens?
You can purchase COV tokens through a third party service provider Pancake Swap.
It provides access to a decentralised platform where users can buy, sell and trade digital assets.
Available trading pairs include COV/ETH, COV/USDT and COV/USDC.
Make sure to review Pancake Swap's T&Cs before opening an account and/or swapping COV.
DISCLAIMER: PrimeXBT reserves the right to deny locking COV Tokens, utilities and change utility duration, fee rates or any other conditions.