KEX is an internal token of the KickEX exchange. Traders are rewarded with it according to their trading volumes (1 KEX is for 2 USDT of commission paid). Thus, KEX tokens are earned based on real transactions and trades. These tokens would classify under the «Proof of Trading» concept.
KEX tokens will be available only on the KickEX exchange. KEX will be traded with other major cryptocurrencies, such as BTC, ETH, USDT and PAX. At first, there will be no a KEX/KICK pair, because KEX token will interact with KickToken within the ecosystem.
There will be a KEX pool of 10 billion tokens on the KickEX exchange. KEX will be credited for trading on the exchange from this pool.
KEX tokens will reduce the commission for those traders who keep the token on their balance in KickWallet. In addition, KEX will provide unique opportunities that cannot be received with other cryptocurrencies. In the future, KEX will be used as a unit of money between KickEX counter-parties, since KEX is a semi-stable token with a fixed price of $1.
Using KEX will allow referrers who haven't traded at $5 commission to withdraw their referral earnings. To do this they will need to pay 50% of the withdrawal amount in KEX (for example, a $100 withdrawal will need to pay 50 KEX).
KEXs are service tokens. Despite the expected KEX growth as KickEX develops, KEX tokens cannot be classified as a security and do not indicate any capital gains. KEX tokens are not an investment and their main purpose on KickEX is to provide access to additional functionalities and reduce trading fees on the exchange.