COFIX
CoFIX
$0.0₃7690
0.00%
CoFIX
COFIX
$0.0₃7690
0.00%
CoFIX Price Converter
CoFIX Information
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About CoFIX
CoFIX (COFI) is a decentralised exchange (DEX) that utilises the NEST oracle for reliable pricing and risk management in DeFi trading. It supports trading and market making, governed by CoFI token holders. CoFIX compensates for risks like price deviation and delays inherent in decentralised oracles. Established in 2020 by a community including AlphaWallet and Aby Lab, it features a token mining incentive system with three mining pools for trading, liquidity, and node mining. CoFIX aims to facilitate 'computable finance' in DeFi, emphasising decentralised governance and efficient market operations.
CoFIX is a decentralised exchange (DEX) described as a computable trading system. It utilises the NEST oracle to provide reliable prices and a computable risk factor for traders and market makers. This approach addresses the challenge in many DeFi projects of calculating and managing risk due to the absence of a controllable and computable risk factor, often a result of not using an oracle. The NEST oracle used by CoFIX offers a reliable price feed with a computable risk factor, independent of centralised infrastructure.
CoFIX is used for various activities within the realm of decentralised finance (DeFi):
1. Trading and Market Making: The platform supports buying and selling activities for both individual users and smart contracts. Market makers on CoFIX provide liquidity for these trades.
2. Governance: Holders of CoFIX governance tokens participate in the system's governance, influencing modifications and upgrades through token-based voting. Initially, governance was managed by the developer admin account.
3. Price Reference and Risk Management: The CoFIX exchange derives its asset pricing from the NEST oracle, with each asset pool corresponding to a NEST oracle price pair. CoFIX compensates for the risks associated with decentralised oracles, such as price deviations and delays, ensuring market makers are adequately incentivised.
4. Token Mining Incentive System: CoFIX features a token mining incentive system comprising three mining pools – trading, liquidity, and node mining pools. This system produces CoFi Tokens through liquidity mining, with specific token distribution mechanisms for traders, liquidity providers, and nodes.
CoFIX was established by a community of collaborators in March 2020. The founding members included the decentralised wallet development team AlphaWallet, blockchain security team Aby Lab, financial product design expert and CoFIX white paper author Zaugust, and eleven other individual members. Victor Zhang, founder of AlphaWallet, highlighted the collaborative effort involving financial model researchers, contract developers, and community volunteers to bring the concept of 'computable finance' to life as envisioned in the CoFIX agreement.
The official CoFIX ticker is “COFI ” and trades under that name on all the exchanges where it has been listed. The designation “COFIX” is for CryptoCompare.com only.
