The team at IDAP asked ourselves a basic, fundamental question about the crypto trading market as it exists today: What does it offer to traders?

The Lack of Trading Choices

A cursory glance into the current crypto trading market revealed a lack of offerings for trading and little to no freedom to the trader to take a position that stems from a robust strategy utilising diversified financial instruments, based off of advanced tools that streamline the process. With this in mind, we decided to centre our core philosophy on incorporating the advantages of legacy trading offerings into the current cryptocurrency market via the introduction of crypto derivatives instruments and powerful trading tools.

Exchanges within the present crypto trading ecosystem fall short on both trading instruments offered on their platforms as well as operating efficiency in the event of rapid market fluctuations. The norm for exchanges is to offer Spot Trading of cryptocurrency pairs, with a select few offering margin lending for crypto assets. Cryptocurrency trading via derivatives however, is an option mostly unavailable, save for platforms that spread far and few between. Even those that allow for derivatives based trading are severely limited in their capabilities.

A lack of options is insidious to the growth of the nascent crypto market in two ways. Traders have no viable means to minimise their risks while trading cryptos. More so, in absence of ample choices in terms of trading products, the market fails to attract new investors. Seeing that the current crypto trading market is still in its infancy as compared to the mainstream global market, there is an imminent need to address these issues to make both market growth and investment protection conducive.

Market Opportunities

The challenges of the nascent crypto trading economy before us, in fact present unique opportunities. The current landscape of crypto trading warrants more choices be made available to investors. With diversified trading instruments at their disposal, investors will have the freedom to hedge and speculate crypto based assets, while faring better against the volatility of the market. Moreover, with the introduction of investment and trading instruments that minimise risk and maximise profit potential, many who have stayed shy of the crypto market will be encouraged to join the crypto economy. Customers will benefit further with improved uptime, especially if the market is bobbing up and down rapidly. To this end, IDAP is focused on standing out from all other exchanges operating today: we not only wish to provide customers with long due freedom by introducing derivatives-based trading to help diversify their portfolios, but also enable them to do this in a streamlined fashion by delivering advanced tools for better and simplified trading, thereby boosting overall efficiency of our platform. The opportunity to increase choices for crypto traders will translate into organic market growth and happier customers.

Potential for Growth of Cryptocurrency Market

Despite falling to almost half its value after hitting the $800 billion mark at the turn of last year, the crypto market never lost its potential to scale new heights. As of now, industry-wide consensus predicts that the market capitalisation for cryptocurrencies will hit a trillion dollars, sooner than later. By proffering a high degree of freedom to its traders and investors, the market can fuel this growth by leaps and strides. Making it easy to take short or long positions, helping expose traditional investors to cryptos via derivatives trading and overall fostering risk mitigation by introducing derived financial instruments, will catalyse the market to even greater heights than predicted. As such, the role of exchanges in driving this growth becomes instrumental and it is in this context where IDAP as a platform seeks to make a difference.

Need for Derivatives Products in Crypto Trading

Given both the size and the age of the cryptocurrency market, a tremendous growth in market capitalisation is not a question of if but when. Furthermore, the crypto market is far from maturity. Henceforth, in light of both these factors the market stands to benefit exponentially from diverse trading and investing instruments that will usher in investors and traders in large numbers to drive up trade volumes as well as increase liquidity by expanding its pool of participants.

Derivatives products based off of cryptocurrencies will not only introduce the much-needed diversity to the market but also carry over all the advantages from the legacy trading ecosystem to the crypto market. By enabling indirect exposure to cryptocurrencies via Futures, Swaps and Options, a larger trading community can be built. Increased participants in the market brought forth by derivative crypto assets will lead to better price discovery. Since Futures, Swaps and Options are derived instruments, traders will be able to manage risks more efficiently, by hedging, speculating and diversifying their overall portfolio, leading to greater volumes being traded and higher gains being reaped. On top of the abovementioned instruments, calendar spreads and butterfly futures contracts will add another dimension to trading, fuelling margin lending and thus supporting smaller retail players. As traders will have varied financial instruments at their disposal, they will be able take both long and short positions, thus being able to reap profits, regardless of a bull run or a bear run, unlike today.

In traditional markets, derivatives-based trading commands volumes that are manifold as compared to spot market trades. With the creation of a derivatives trading market for cryptocurrencies coupled with the support of an ecosystem designed to cater it, the crypto market trading volumes will soar further helping market prosperity.

Challenges of the Existing Crypto Trading Ecosystem

An assessment of the existing trade exchanges in the crypto market sheds light on the challenges they face at the moment. A market’s success is closely tied to the exchanges that constitute its ecosystem. In case of cryptocurrencies, there are certain challenges that upon resolution will accelerate the growth of the trading market and redefine user experience when it comes to crypto trading.

Lack of Mature Trading Systems

The trading systems presently available in the crypto landscape are nowhere close to their traditional counterparts. The design philosophy of most platforms is a reflection of the lack of choices available to traders; the prominent form of trading is Spot trading. In traditional markets, where numerous and varied types of financial instruments exist, trading platforms have evolved to support complex operations, automation of certain aspects, sanity in visualisation of different kinds of data, all tied together with large volume handling capabilities and high uptime resulting in a stable efficient platform, packed with advanced tools to provide traders a seamless experience. This however is the result of decades of improvement as needs and demands of traders kept growing and changing.

The maturity of crypto trading systems will be key as introduction of a derivatives market will expand user choices single-handedly, requiring exchanges to account for these increased choices. Current crypto platforms lack advanced charting and visualisation tools, offer little to no conditional automation of orders, suffer from poor performances in the face of a rapidly fluctuating market and high latency, causing transactional delays thus leading to missed opportunities. More so, anomalies in trade volumes cause major downtimes further affecting buy and sell orders.

Security Concerns

A digital ecosystem needs constant protection against hacks and cyber-attacks. Exchanges need to be on their toes as malicious actors find new and innovative ways to funnel out funds from exchanges. Many exchanges have suffered from cyber-attacks that have resulted in losses in order of billions of dollars, and thus security measures need to be used smartly and consistently as a safeguard against hacks. Even simply following industry best practices goes a long way. In addition to these standard procedures, defences against digital attacks are bolstered by investigation of edge cases and enforcement of appropriate counter-measures. Most importantly, regular review and update of security are absolutely crucial.

Poor Customer Support

Crypto exchanges are infamous for poor customer support. Even the established ones have been unable to perfect the art of dealing with customers’ problems swiftly and efficiently. Customers find themselves facing challenges more often than not and reaching through to get resolution is time consuming and frustrating. FAQs and guides only do so much to placate a customer needing a solution to problems and round the clock customer care services are unsatisfactory as they remain overwhelmed by the volume of users needing resolution.

IDAP ECOSYSTEM - THE SOLUTION

The abovementioned issues affect customers on various levels and in order to shift the industry normal towards better user experience and greater freedom of choices, innovation is required.

IDAP is introducing diversified trading and investment instruments with an institutional grade exchange platform, complete with advanced trading tools, dedicated 24/7 customer support and top-level security.

Borrowing from the merits of legacy trading systems and coupling them with all the possibilities lent by the crypto trading environment, we are not merely disrupting the ecosystem of exchanges, but also creating a new way to approach crypto trading and investment.

Unlike most of the current exchange teams that majorly comprise of techies with limited exposure to financial markets, the IDAP team and advisors have diverse exposure, comprising of highly successful traders, technocrats and successful entrepreneurs. Our team possesses hands-on experience of trading with global exchanges, market analysis, operating & managing successful enterprises, and customer service & support. We are:

• Driving Innovation in Crypto Assets Market- IDAP is committed to innovating the crypto assets market with its inventive new features. The platform’s advanced trading tools like the Desktop trading app, IDAP Ladder, IDAP Simulator, IDAP Spreader & IDAP Matrix, crypto investors can now indulge in some powerful and serious trading in this growing market.
• Expanding the Trading Product Offerings- Trading & investment instruments like derivatives don’t need to be limited to traditional financial market. To open up new and improved trading possibilities, IDAP is passionately creating diversified financial instruments to trade in crypto assets.
• A One Stop Shop- Manage all your crypto trading and investment activities with a single platform. IDAP is providing all the solutions under one roof, from advanced analytics tools to an array of trading and investment products. Not just this, with our ICO incubation program and our ICO venture fund, the IDAP platform is ‘the ecosystem’ for both upcoming startups and venture capitalists who want to engage with such projects.
• A High-Performance Platform- IDAP takes pride in offering a high performance Digital Asset Exchange Platform, capable of handling massive transactional volumes and with a high uptime rate, making crypto trading seamless.
• Offering a Low Trading Cost- Despite the numerous products, tools and services, trading fees are as low as it gets: pay no trading fees at all for buying IDAP tokens and get discounts on trading fees for various services by using our native IDAP tokens.
• Solving Challenges of Crypto Assets Trading- While our customers love to trade in the digital currencies, we are equally passionate about addressing challenges that exist in the current crypto market. From an excellent customer service & diversified crypto trading instruments to advanced trading simulator & analytics tools, IDAP is taking all challenges head-on.

As displayed in schematic above, the IDAP ecosystem has a breadth of options to offer to all participants of the crypto market: all grades of investors and traders as well as entrepreneurs trying to raise capital. In the upcoming sections, let us explore in depth all the offerings of the IDAP ecosystem along with their features and advantages.

IDAP ADVANCED TRADING TOOLS AND FEATURES

IDAP’s advanced tools and platform features set us apart from all the exchanges present in the market today.

Desktop Application

IDAP will provide its customers, the trader-friendly ‘Desktop App’ with custom features for a seamless trading experience. In conjunction with our flagship trading tool, the Desktop App, customers will also have access to our exchange via the in-browser trading app as well as mobile app. The full features list of our Desktop App includes:

• Order entry form supporting Market, Limit, Stop-Loss, Stop-Limit, Iceberg, trailing stops,
• OCO, bracket and various other conditional orders.
• Real-time market data charts supported by generic and advanced technical indicators and analysis.
• Account and position monitoring, order book, trade history, fill book etc.
• Custom arrangement of market data, order and trade history, positions, charts and technical tools, other data items and colour schematics.

IDAP Ladder

For the assistance of intraday and professional traders, IDAP is introducing ladder trading to crypto market. Being one of the key features of this crypto trade & exchange platform, the IDAP Ladder will enable the traders to view price action, best bid and offer, last trades’ price and quantity, total traded volume at each price, high and low market points of the day, depth of market orders and various other critical data related to trading. The IDAP ladder will allow the traders to submit, modify and cancel orders with one click (Power of Point-and-Click Trading). The IDAP ladder will also help in visualising the relative position of correlated products, neatly displaying this data in the user dashboard.

IDAP Matrix

The IDAP Matrix will serve as a crucial trading tool. With the IDAP Matrix, traders will be able to view market data for all contract expirations of an asset as well as market data for exchange-quoted spreads for the underlying asset, all in one window. Traders will have the ease to trade, place, modify and cancel orders directly through the IDAP Matrix.

IDAP Spreader

The IDAP Spreader will allow traders to create, manage and execute synthetic spreads based on futures contract available on the IDAP exchange. Synthetic spreads are intermarket spreads, whose prices are not quoted on the exchange itself, but have to be calculated based on the underlying contracts listed on the exchange. For example, a user can create synthetic spreads of Bitcoin (BTC) and Ethereum (ETH) through the exchange quoted spreads of BTC and ETH. This is another distinguishing feature that is unique to IDAP exchange ecosystem.

ROADMAP

• Q4-2017 to Q1-2018
  Ideation & conceptualisation of the IDAP ecosystem
  Detailed research and analysis conducted
  Core team built
  Advisory board formed
  Strategic partnerships made

• Q2-2018
  Website launch and Lite Paper release
  White Paper release
  Community building
  IDAP exchange platform development
  Company registration in Estonia
  Release of IDAP demo platform
  License procurement for derivatives trading and asset management
  Public voting for coins/tokens that will be listed on the live exchange
  Start of token sale

• Q3-2018
  Product architecture development and testing
  Front-end development
  Formation of banking partnerships for fiat integration
  Derivatives market products testing
  Advanced APIs integration and testing
  IDAP Exchange marketing
  Alpha release

• Q4-2018
  Test run of platform features
  Beta release of the platform
  IDAP Exchange launched, supporting desktop, web & mobile apps
  Listing of top voted coins/tokens on IDAP Exchange
  Gathering of the ICO Venture Fund

• Q1-2019
  Integration of extended product offerings
  ETF integrated into IDAP platform
  P2P lending functionality enabled
  Crypto Indices integrated into IDAP platform
  Customer feedback collection and analysis

• Q2-2019
  IDAP’s ICO incubation services launched
  New cryptocurrencies added to exchange listing
  Evolved, improved and new product offerings based on customer feedback
  Integration of live news tracking and analytics tools

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Author: Nyx Ulric
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