After what happened with Mt. Gox in 2014 and with the recent hacking of NiceHash, there is a growing concern that funds held in centralised exchanges are not as safe and secure as they would appear. Moreover, the server issues and maintenance downtime experienced by many of the centralised exchanges in recent times has also resulted in quite a bit of fear, uncertainty, and doubt amongst users; especially those who had stored the majority of their cryptocurrency portfolio on exchanges.
On the other hand, decentralised exchanges (DEX) remain a relatively unattractive option due to their lack of accessibility and user-friendliness. This is what Streamity hopes to change with StreamDesk, a decentralised application they are developing on the Ethereum network.
StreamDesk is a decentralised platform that allows peer-to-peer exchange of cryptocurrencies through the use of smart contracts. With StreamDesk, Streamity hopes to provide a quick, simple, and secure interface for users to buy and sell cryptocurrencies. In addition, Streamity plans to offer support fiat as well as a wide range of cryptocurrencies, giving users the freedom and flexibility to convert between fiat and cryptocurrencies easily.
The exchange rate is pegged to the major exchanges and will be calculated in real time by the automated system. To make the trade fair and transparent for everyone, StreamDesk will include all applicable fees and commissions as well as the real-time exchange rate at the time of the order. Depending on the fiat payment system chosen, attendant fees may apply. For cryptocurrencies, a commission of 0-2% may also be levied.
Similar to other exchanges, users can choose to place a buy/sell order or fulfill an order listed on StreamDesk. The cryptocurrency will be locked into a smart contract once an order has been placed. Upon receipt of fiat payment, the automated system will signal the smart contract to release the cryptocurrency will be released to the buyer. This provides additional security for both buyer and seller and prevents fraudulent transactions.
Streamity Token (STM) is an ERC 20 token that will be used to pay for all services offered on Streamity. There will be a maximum supply of 186,000,000 tokens. Tokens will be sold for $0.20 each during the crowdsale.
