Covesting: A Rare DeFi Project With Real-World Utility Today
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Covesting: A Rare DeFi Project With Real-World Utility Today

September 10, 2020      Cryptoknowmics

The world of DeFi has been heating up all of 2020, recently coming to a boil and burning a number of crypto investors due to several projects not being all they were chalked up to be. Other DeFi projects have outright turned into public exit scams.


Very few DeFi projects truly offer real-world value or utility today and are instead experimental visions of what the world of decentralized finance will ultimately become. However, upon digging deeper into the DeFi space, a few gems offer holders of the token a wide range of benefits on platforms that are live and active today. One of those DeFi projects with more than just promise is Covesting.

DeFi Explosion Leads To Burned Crypto Investors, Stick With Market-Tested Tokens

The current DeFi explosion has generated substantial wealth and a plethora of new projects not seen since the ICO boom. And much like back then, in a sea of new projects and tokens offering promise after promise and with Ethereum trading at local highs, only a few ever end up providing real-world utility. However, a DeFi project from back then that has stood the test of time is now seeing a significant resurgence in interest thanks to real-world utility unfolding today.

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Enter the COV token, the ERC-20 token designed to power the Covesting copy trading module, now available to the public on PrimeXBT.


The COV token sale ended on December 30, 2017. After more than three years of steadfast development, the DLT-licensed fintech developer by the same name, launched the Covesting copy trading module, instantly bringing unmatched value to the COV DeFi token.


While other DeFi tokens promise a future of utility, Covesting is here today. According to the firm, the COV token will unlock the copy trading module’s full potential by offering several key benefits.


First and foremost, the COV token will bolster the profit-share of success fees generated by following strategies on the platform. Certain COV token levels will enable an even larger follower count, so profit potential can grow exponentially depending on a trader’s skill level combined with how much COV they hold. And even more features are on the way.

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All About COV and Copy Trading: The Latest Innovations In Decentralized Finance

Most other DeFi tokens are still years away from bringing crypto investors the value matching their current hype. Meanwhile, the powerful platform the COV token powers is already amassing a vast array of skilled traders worldwide.

With COV at the center of the Covesting, the copy trading module connects experienced traders from around the globe with new traders who don’t have the time for analysis or strategies themselves or don’t have the stomach to sit in positions long enough for them to become profitable.

The platform offers anyone no restriction access to becoming a strategy manager, and anyone can follow any of the top strategies listed in the public rating system. Strategy managers earn a portion of success fees generated by followers’ equity, while followers make money by copying some of the trading community’s best trades. The COV token further bolsters the ROI on both sides of the trade.

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Rather than holding DeFi tokens waiting for their hype and claims to come to fruition, the COV token and the Covesting copy trading platform are available today. Full integration of the COV token in the Covesting platform is coming soon, and additional features are planned depending on which platform Covesting launches on next.

Try Covesting Today At Award-Winning Advanced Trading Platform PrimeXBT

For now, Covesting is exclusively available on the award-winning Bitcoin margin trading platform PrimeXBT. There, traders can access over 50+ markets across gold, crypto, oil, stock indices, and more.

Strategy managers can build a diverse trading portfolio on Covesting through PrimeXBT’s trading instruments and tools, and get themselves on a fast track to profitability and attracting more followers than ever before.

Followers also can earn passive income by letting successful traders do all the work. Covesting is one of the rare few examples of a DeFi project in action, and not awaiting years of development before providing utility and value.

#Covesting #DeFi projects

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