ITEX: The Distinctive Hybrid Exchange for the Crypto Community
I remember my earlier days as a crypto enthusiast, I dreaded decentralized exchange (DEX) to be precise Etherdelta like a plague. In fact, I think up till now only a few traders really find their way around using it. Even after I mastered the usage of the Etherdelta platform it didn't stop me from making some regrettable errors most times due to failure to properly terminate my placed bids or network issues. Though my losses were always minimal, I remember once seeing someone losing as much as 10 eth on a trade due to lack of understanding of the platform and a crazy gap between the bid and asking price. I have also seen a coin do 200000% on a DEX only to find out it was actually the developers manipulating prices and trades all by themselves in order to get on coinmarketcap. Asides from that DEX exchanges also have some other setbacks and they include lack of customer support team, the absence of regulatory identification and verification of users (KYC), lack of security measures e.g 2FA and lastly low liquidity.
The Centralized exchanges too are also nowhere near perfect or satisfactory. Pump groups supported by crypto whales have often shattered financial and technical analysis predictions, leaving the latecomers who join the pumps in penury after the dump. Centralized exchange rip off traders and developers in terms of the excess withdrawal fees and crazy demands prior to listing respectively. Nevertheless, the service they render is epileptic: limited numbers of cryptocurrencies, lack of options to trade against fiat currency and lastly inappropriate pause on deposit and withdrawal which inhibit arbitrage trading. The sad truth is that the manipulation on most exchanges has affected the decentralization of the crypto-space. The culmination of exchanges inadequacy and the dump in the valuation of the entire crypto market, has driven many people from the crypto eco-sphere but exchanges are too important for the wellbeing of the crypto community to continue to exist in the current unsatisfactory and malevolent state.
Innovating trading exchange (ITEX) is a hybrid exchange that combines both the technological advantages of decentralized exchanges and the protection, security measure and customer support system of centralized exchange in order to build a stable trading platform that ensures decentralization and maximum satisfaction of its users. ITEX is loaded with features that will be both beneficial to traders and uprising blockchain startups. ITEX as a hybrid exchange guarantees instant trading without the common glitches that are often present on most decentralized exchange with measures in place monitor and control suspicious trading on the platform in a bid to prevent price manipulation by pump groups or developers.
Core Features of ITEX
- High-performance trading with applaudable features: Aside from being glitch/error free, ITEX platform will provide numerous cryptocurrency trading pairs and also in the nearest future support trading against 10 fiat currency. The hybrid exchange will also support social trading where traders can automatically mimic trade activities of their favorite traders on the platform when going offline and this will go a long way to guarantee all day long trading and liquidity on the platform while the social (favorite) gets a reward. ITEX will also support margin trading of BTC/USD pairs with a leverage of up to 50x while major altcoins will have leverage of 10x. The exchange will also boast affordable withdrawal/ interchange fees while margin trading fees will be determined in the second quarter of 2019. The exchange will also be launched on mobile devices in the second quarter of 2019.500 million ITEX tokens will be distributed to traders on the platform over the next two years.
- The absence of Listing fee for new cryptocurrency on the platform, funding system for new blockchain startups and monitory measures for traders security: The ITEX platform does not require a listing fee but rather sets up requirement based on the community strength and the amount of ITEX votes the platform can secure. In a bid to support the blockchain community ITEX has designed a funding system to provide funds for upcoming blockchain startups based on the use case and votes of members of the platform. ITEX also seeks to protect its traders by putting in place measures(score system)to monitor the activities of projects trading on the platform and those funded by the ITEX platform in order to protect the interest of traders. Security measures such as email confirmation, 2FA, device approval, and re-captcha and biometric access will also be made available.
- Unique referral system: The ITEX referral system is highly commendable because asides from rewarding uplines with percentage of tokens purchased during the token sale, referers stand to earn from each withdrawals made on the platform(20% of the value of the withdrawal ), earn also from 1% on all fees generated on the platform and also get to earn from the 20% of ITEX the platform will acquire from the voting process while the remaining 80% will be burnt.
- ITEX token: ITEX token is an erc-20 token built on the ethereum blockchain with a maximum supply of 1 billion tokens and an initial circulating supply of 200 million tokens. The ITEX token serves as the utility token of the platform and grants users the following :access to 90% of the total fees on the platform(For holders of a minimum of 1000 Frozen ITEX token), voting medium, grant access to reduced interchange fee and lastly will serve as a market on the trading platform.
The ITEX token is currently in its public sale phase and is available at 0.05 USD per token.
Conclusion
The ITEX project represents the true values of a decentralized and incentives system with the protective measures and support system needed for stable, fair (void of manipulation)and customer friendly exchange services also in place. Since the majority of the profit on the ITEX platform goes to traders and holders of the ITEX token, the ITEX token and the services rendered by the platform will definitely be attractive to most crypto enthusiasts and help guarantee the success of the project.
For more information on the ITEX platform check out the following channels
Website: https://itex.exchange/
Telegram page: https://t.me/ItexHybridEx
Twitter page: https://twitter.com/itexexchange
BTT ANN thread: https://bitcointalk.org/index.php?topic=5093257.msg49051106#msg49051106
Authors details
BTT name: Mrsparks
BTT profile link: https://bitcointalk.org/index.php?action=profile;u=1197564;sa=summary