A simple Google search of the term ‘Cryptocurrency trading’ yields more than 25 million results. This is a sure indication that the subject of cryptocurrency continues to hit the market with a resounding splash, nearly ten years after its invention. However, despite all of the enthusiasms, Crypto exchanges have emerged the tool to profit from crypto asset ownership but they are far from being without their pitfalls. The exchanges, as a centralised point of sale, do not fit well with the idea of a decentralised financial system: they are a single point of failure, but this is not the only issue.
The challenges in cryptocurrency exchange have been a major setback to the growth of the industry and this points to the reason why the market is not globally adopted so far. Poor liquidity, poor market regulations, long process of compliance and complex integration are some others challenges plaguing cryptocurrencies.
WeiDex, found online at https://weidex.market/, is a fully featured decentralized exchange addresses to solve those problems above. WeiDex aims to make cryptocurrency trading market easier, safer, and cheaper for the cryptocurrency market consumers. WeiDex will be a secured escrow service platform allowing its users to carry out transactions securely. The WeiDex business model purposes to enable users to easily buy, sell or exchange cryptocurrency without intermediaries.
All the logic is held by the smart contract. Hence only the users have the tendency to control their assets thereby making human error very impossible. WeiDex supports all Ethereum based tokens and by the end of the year, WeiDex will also support Neo based tokens.
WeiDex stated that the platform will have both advantages of centralized and decentralized exchanges. However, centralized exchanges are known for its easy to use, easy to access (availability) and transparency. As a decentralized exchange, WeiDex also have advantages over other existing decentralized exchanges, including:
- Referral System Program: WeiDex is the first of its kinds, that offer 20% of users referral trading fees. More users you invite, more referral bonuses you will receive.
- Low Fees: WeiDex is developed in a very fast and efficient blockchain network. It will make the transaction on the platform is effective and efficient.
- Multiple Order Fulfillment: User can set numbers of order and the platform smart contract will make sure to take as many transactions as needed to fulfill your request, while he/she only charged for just one transaction.
- Airdrop Program: The airdrop will occur once a month and will affects every unique address that meets the trading volume conditions. The maximum amount of tokens each unique address can receive is up to 250 WDX for the first 20 000 users who meet the trading volume requirement for the airdrop.
- Cross-Chain Transactions: It's the most advanced technology over cryptocurrency exchange platforms. Through the Cross-Chain Transactions, WeiDex will unify different kind of blockchain (e.g. Ethereum and Neo) at the same platform.
The startup company will issue a cryptocurrency token (symbol: WDX). WDX token has a particular рurроѕе whісh is to fuеl the platform ecosystem. WDX Token can be used to off set the transaction fee at a 50% discounted rate. The unique feature of WDX is users will be able to swap WDX between different blockchains e.g. ETH and NEO.
The token will be derived from a standard Ethereum ERC-827 (extended ERC20). The token total supply is - 50 000 000 WDX. Tokens will be allocating in the following manner: Token Sale 60%, Team 15%, Advisers 4%, Marketing 10%, Airdrop 10%, and Bounty Campaign 1%.
For more information about WeiDex and its WDX token, you can visit online at https://weidex.market/ or visit the company whitepaper available at https://weidex.market/images/whitepaper.pdf
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