** [ANN] BitCash MegaX: Counterparty-Free Smartcoin Exchange (alpha) **
Introducing a counterparty-free smartcoin exchange
Hello Bitshares and Steemit community!
I'm the founder of BitCash and we're working on a simple USD Smartcoin wallet on the Bitshares platform. It's in alpha right now. Feel free to sign up for the alpha at: www.bitcash.org... and yes we do plan on being a bridge for Steem dollars with our wallet if you guys are curious!!!
Just wanted to bring another exclusive right here on Steemit! Thanks to Cryptonomex, svk and the Bitshares community the Bitshares exchange GUI is rock solid and continually improving. Thank you guys! This has enabled us to tweak the GUI and create a very focused Smartcoin exchange we are calling BitCash MegaX! It will first allow people to trade Bitshares for Bitcoin using a BTC smartcoin and also trade Bitshares & Bitcoin with both a BTC & USD smartcoin! No counterparties! We won't custody any assets! It will be a Smartcoin Exchange! You can check out the alpha version of our exchange at: https://bts.bitcash.org. Right now we have a few small orders in the Bitshares/Bitcoin exchange, but feel free to start trading and start creating a cash.BTC & cash.USD supply! We plan to start making the market for the other two pairs soon. Here is a GUI screenshot
How do the smartcoins we use compare with bitBTC or bitUSD?
Our design is different as described here "Introducing: CASH.USD …. where one is worth $1" In short the maxium short squeeze ratio is 100.1% and there is no forced settlement. It's very favorable for those that want to create a long term supply of smartcoins and that's incredibly important for our ecosystem! Witnesses provide the price feed.
How can you help create supply?
As mentioned above all you have to do is click on the Borrow CASH.BTC or CASH.USD button on the upper right of the trading screen and provide sufficient BTS collateral. There is very little risk creating supply and selling cash.BTC for BTC. You can charge 0.1% to 1+% to go back and forth between the two. It's better than having your BTS just sit there! You'll make money! Just create a supply and be a bridge! You won't be manually forced settled and if you don't have enough collateral your positions will be sold at the price feed! It's that simple and you should have peace of mind. If you're a longstanding member of the Bitshares/Steemit community I'll be happy to exchange one cash.BTC for one BTC anytime!
Let me know if you guys have any questions. Hope you guys check out and support BitCash MegaX, the Counterparty-Free Smartcoin Exchange!