Thank you, @tokenupdstes for this well-written post. Upvoted!
I have one question: what is the purpose of the token in the system? If it has no fees, then what is the token good for?
In other words, why would the price of the token rise ?
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The exchange will offer free trading fee feature, which is expected to appeal to the masses and create huge client base as long as other features work very well... There will be fee for margin loans and ICO underwriting services. As the exchange grows, its also expected that demand for COB tokens, which offer lesser fee for loans, will rise driving up their price...
Ok. That sounds reasonable! I will check the ICO.