Swiftlance Decentralized Exchange (SWIDEX)

INTRODUCTION

Cryptocurrency, which is sometimes referred to as digital currencies operate independently of any central authority or banks and it is permissionless to use, the transaction is open & available for people to see.

Because it is decentralized, government authorities such as the Judiciary, Authorities in-charge of taxation, and the central banks do not find it appealing because it cannot be taxed and they don't have power to influence the transactions of traders/participants.

N.B: Cryptocurrencies Transaction cannot be cancelled, cannot be reversed and neither can it be disputed, This is the reason why newbies are advised to have someone who is experienced and careful to guide them whenever they want to carry out a transaction.

Cryptocurrencies can be obtained by buying/purchasing from a digital/crypto-currency exchange platform, The exchanger allows the trader to exchange their Fiat( paper currency) to Alt coins of their choice. The top five (5) cryptocurrency Exchange can be find below:

Binance,
Bitmex,
Kucoin,
Changelly, and
Hobi Pro.

Cryptocurrency Trading platform have their own shortcomings such as: scalability, Cybersecurity issues, price volatility and lack of inherent value, Regulations, and abuse of trust which traders place on the crypto exchange all for the sake of profits, user-friendly interface, these shortcomings cause traders to panic.

As more technological innovations are uncovered, Swidex, a tokenized decentralized application that will be built on Ethereum protocol that aims to provide a completely decentralized exchange that is eco-friendly, fast and secured for P2P digital assets trading came on board.

Swidex aims to provide a decentralized P2P trading platform with smart contract technology. A world where users trade digital assets with equanimity. A burning protocol will be integrated into Swidex smart contract where Swidex tokens will slowly be burn until 30 percent (1.5 billion) of the total supply is successfully burned.

Swidex will offer dividends in form of Ethereum (Eth) quarterly to holders of Swidex tokens. This is to reward Swidex token holders as stakeholders of Swidex.

ABOUT SWIDEX

Swidex is a tokenized decentralized application that will be built on Ethereum protocol. It aims to provide a completely decentralized exchange that is eco-friendly, fast and secured for P2P digital assets trading. Ethereum Blockchain is adopted because Ethereum was one of the early cryptocurrencies that emerged in the Blockchain industry.

Most developers are familiar with the programming language, Solidity and more than 50percent of digital assets operate on Ethereum Blockchain either as main Blockchain or initial Blockchain before mainnet launch.

Therefore, Swidex advances a wide coverage of digital assets and provides a decentralized trading platform.

THE PROBLEM

Since centralized exchanges are controlled and managed by a central administrator, several inherent problems are associated with the use of CEX. There are numerous stories of users’ accounts frozen or depleted without genuine explanation or reasons. More so, numerous security breaches have been reported in millions of dollars leading to tremendous loss of users’ assets, and eventual shutdown of the exchange.

A notable CEX, Cryptopia had a security breach and reportedly suffered huge loss leading to its eventual shut down. In addition, cases have been recorded where users of a reputable exchange were denied access to their funds as a result of death of founder of the exchange holding private keys to wallets containing users’ funds and assets.

THE SWIDEX SOLUTION

P2P Digital Assets Trading

Swidex is a DAPP and token protocol that provides an open peer to peer decentralized trading platform that is instant, fast and secured where its users are able to eliminate intermediary barriers and controls of the centralized cryptocurrency exchanges. Swidex is not controlled by a central administrator or entity but it offers a platform where users are empowered to trade directly within themselves on the term they choose.

THE TOKEN

Swidex tokens is built on Ethereum Blockchain, ERC-20 with a total supply of 5,000,000,000 (5bn) SWDX. SWDX is the native token of Swidex, serve as fuel for the exchange. It enables liquidity and powers open, fast and secured transactions between users of Swidex.