China-based FCoin – a new crypto exchange launched in May that takes a novel revenue model – has come under the spotlight after its trading volumes appear to have almost immediately surpassed some of the largest exchanges.
Founded by Zhang Jian, the former chief technology officer of Huobi, FCoin touts a new business model that effectively turns cryptocurrency trading into mining, since it provides a means to obtain FT tokens issued by FCoin.
But instead of adopting an initial coin offering or an airdrop, FCoin is issuing 51 percent of tokens to the public in exchange for making transactions on the exchange.
For instance, for every transaction fee a user pays to FCoin in the form of either bitcoin or ethereum, the platform will reimburse the user 100 percent of the value in FTs.
“It may appear attractive that you just hold the token and let other people who make trades on FCoin to generate dividend for you.

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