Covesting, a Europe-based, licensed DLT services provider and B2B software developer, has announced the debut of new COV-denominated margin trading accounts and copy trading strategy manager accounts.
Covesting Launches COV-Denominated Account Types On PrimeXBT
Covesting has launched its latest product development roadmap milestone, enabling new COV-denominated account types in partnership with the advanced PrimeXBT trading platform.
COV tokens can now be used alongside BTC, ETH, USDT, and USDC to create and fund a Covesting copy trading strategy manager account and as collateral for margin trading accounts to access more than 50 different trading instruments across crypto, forex, stock indices, and commodities.
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COV-denominated Covesting copy trading strategy manager accounts and COV-denominated margin trading accounts are now live on partner platform PrimeXBT. A step-by-step walkthrough guide has been shared via the official PrimeXBT blog with additional details on how users can take advantage of the new account types.
“We are excited to be moving according to the previously announced roadmap and delivering these promised innovations to COV token holders,” said Covesting CEO, Dmitrij Pruglo. “Enticing incentives are also planned for COV-denominated accounts as part of future developments. We are confident that this latest update and everything else we have in store will significantly improve COV token utility and encourage additional growth within the Covesting ecosystem,” he continued.
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Additional COV Token Utilities Announced, Updates Coming Soon
Future Covesting roadmap development updates include additional incentives for choosing COV-denominated accounts as well as enhanced utility.
The planned utility improvements will provide strategy managers with a 25% revenue share from all profits generated for followers compared to the standard 20%. In addition, followers who follow COV strategies will benefit from the maximum 75% profit share instead of the standard 65%. COV-denominated account benefits are enabled regardless of membership tier.
Also in the pipeline, COV will be added as an available asset for staking within yield accounts for added flexibility and increased opportunity. These features join a wide range of utilities already available within the Covesting ecosystem exclusively for COV token holders.
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