OneChain’s Broker plan

Recently, a great number of users asked me when the ONE tokens would be listed on the Exchanges, so that they can commence the trading. The answer is very soon, we are working overtime to prepare everything before the last push. Given that OneChain has its own exchange platform, a faster and extremely low transaction fee, the ONE tokens will be firstly listed on this platform.

We may be aware of that there are thousands, thousand of cryptocurrency exchanges over there, which can be divided into four categories:

Traditional cryptocurrency exchanges: these cryptocurrency exchanges works as the stock exchanges where buyers and sellers trade based on the current market price, and traders pay a certain percentage of fees for each transaction.
Cryptocurrency Brokers: these exchanges are similar to the foreign currency exchange at the airport, customers buy or sell cryptocurrencies at a price set by the broker. The price usually equals to the current market price plus a premium, the premium varies through countries, for example in Tunisia, it can be up to 20% of the trading amount.
Direct Trading Platforms: we also call this kind of transaction as OTC( Over the Counter), in other words, the buyers and sellers conduct direct peer-to-peer trading, there isn’t a fixed market price, sellers and buyers set their own price.
Cryptocurrency Funds: Funds are pools of professionally managed cryptocurrency assets which allows public buy and hold cryptocurrency via the fund.
Actually, OneChain exchange platform belongs to the third category, the direct trading platforms, but we made a couple of adjustments by integrating a broker plan to ensure a secure, smooth and fast trading experience.

What is the Broker Plan?

The idea behind the Broker plan is similar to the Uber, the seller(the passenger) publishes an order with an expected price, the broker (Uber company) intervenes and provides a guarantee as a middle man, then the buyer (seller) takes the order then carry out the transaction. During this process, the broker will charge a seller a small percentage of trading amount as a premium (usually less than 0.5%). The order competing mechanism allows a better and a fast match between buyers and sellers.

This plan creates a quasi risk free income generating opportunity for “brokers”, in order to become a broker, you need to store various types of cryptocurrencies in your Packet account and apply on the OneChain platform. Once your application gets approved, you can guarantee the digital asset transaction order whose amount is lower than your corresponding assets in the packet account.

For example, assuming a seller publishes a order: buying 160 ONE tokens with 2 EOS, as a broker, your must ensure that there are more than 2 EOS and 160 ONE in your account before you could participate in the guarantee.

We invite you to discover more interesting and powerful functions of our dApp, we invite you as well to send us your comments to improve our product.

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