What is it?

COS is the native token of the Crypto One Stop Solution (COSS) platform, which is a Singapore-based digital asset platform that serves as a one-stop solution. The company was formed after the merger of COSS Exchange and Arax Wallet, which was announced on April 24, 2019. COSS is also a member of the Singapore Fintech Association and Ethereum Enterprise Alliance.

What is it used for?

The COS token is used for various purposes within the COSS ecosystem. It can be used to pay for trading fees on the COSS Exchange, and 50% of trading fees generated on the COSS DEX are shared with COS token holders as part of their Fee Split Allocation (FSA) staking rewards entitlement.

The COSS platform consists of several components, including the COSS Exchange, which provides a marketplace for goods, payment gateway for sellers, crowdfunding platform, and facilitates fiat to crypto trading. The COSS Wallet is a decentralized multi-blockchain supporting crypto wallet that supports in-wallet crypto to crypto swap, mobile recharge with cryptocurrencies, and nearby crypto transfer via GPS. COSS Lift-Off facilitates the purchase of digital assets offered by IEOs using cryptocurrencies held by users in their exchange or private wallets.

The official COSS ticker is “COS” and trades under that name on all the exchanges where it has been listed. The designation “COSS” is for CryptoCompare.com only.