ICO WeiDex: Offering Decentralized Trading Solutions
Crypto trading is turning into a great way of investment. The value of crypto assets like Bitcoin and Ether is increasing constantly and many new crypto coins are emerging. All of these coins and tokens are valuable crypto assets, traded across crypto exchanges.
Though these crypto assets are generated and used by decentralized platform, still a few centralized exchanges are used to trade them.A majority of cryptocurrency investors use centralized exchanges that manage the investor’s capital and provide trading facility.
The centralized exchanges have played a vital role in facilitating crypto trading, but these are vulnerable to hacks. The demands for a decentralized crypto exchange ike Weidex is increasing with every passing day. Weidex will operate as a secure and decentralized crypto trading platform that will give the controls back to the users.
The main problem is some of the existing exchanges are still using centralized network which leads to an untrusted third-party risk. Through centralized, the challenges facing in cryptocurrency exchanges are poor liquidity, poor market regulations and longer transaction process. From this financial institutions and banking sector get benefitted because of high exchanging fees.
The solution where weiDex is come up with their decentralized exchange platform on providing full security, privacy, availability and transparency exchange process to the users. They are revolutionizing the centralized exchange network where trades must be done through the third-party involvement which leads to higher risk. So, weiDex is removing these third-party where users can trade directly through p2p network with the help of the smart contracts.
Referral System – Here, you can invite your friend and get 20% of their exchange trading fee into your wallet. The more number of users you invite, the more number of bonuses you get. This is totally handled by the smart contract.
Lower Fees – Here, weiDex is providing a cost effective and minimizing the time wastage in the trading exchange process. Users will be charged lesser amount as per the comparison with a centralized charging amount.
Multiple Order Fulfillment – weiDex is providing user-friendly platform to trade easily. In this you can set your certain amount and their smart contract will make sure to take as many transactions as needed to fulfil your request. It is a very time consuming and cost-effective feature to the users.
Cross-chain Transactions – This will be done through the Atomic Swap or Atomic Cross-chain Trading where exchange of one cryptocurrency to another does not require any kind of middlemen or third-party involvement.
weiDex Token (WDX) has several different uses:
Users will have the chance to reduce their trading fee by 50%
When new tokens are listed on weiDex, they can use WDX as a payment method.
Users will be able to swap WDX between different blockchains e.g. ETH and NEO. In the roadmap, there is integration with Neo. After this integration is done, users will be able to trade between this platform using WDX.
After new tokens are listed, we will provide airdrop to all WDX holders, proportionate to the amount of WDX each user has.
Token name – weiDex
Token symbol – WDX
Total supply – 50 000 000 WDX
Token type – ERC-827 (extended ERC20)
Token Decimals – 18
WeiDex’s intention is to allow a broad base of community members to participate in a Token Sale. WeiDex cannot guarantee that all prospective purchasers will be able to acquire their desired allocations during the Token Sale, where the maximum cap will be approximately $15 million.
The amount of tokens sold during the Token Sale will be from a total sale pool
of 30,000,000 WDX.
For a successful token sale reaching the hard cap the intended token distribution will be as follows:
Our customers will receive an airdrop based on their trading volume. The total amount of tokens that will be provided as airdrop is 5,000,000 WDX. The airdrop will occur once a month and will affects every unique address that meets the trading volume conditions.
The maximum amount of tokens each unique address can receive is up to 250 WDX. Therefore, the first 20 000 users that meet the trading volume requirement will be affected by
The amount of tokens for the team, the advisory board and the marketing will be locked. Every 90 days 25% of these tokens can be released.
Therefore, the total amount of tokens for the team, advisors and marketing will be available after one year.
The majority of funds will be to continue the research & development of the
exchange, while the remaining portion will be used to raise awareness
about the decentralized exchange.
Some of the key costs include:
Technical Development Costs – will mainly be allocated to employee salaries and contractor costs for developing and securing the software.
Marketing and Communication Costs – getting the attention of target adiences by using slogans, packaging design, celebrity endorsements and general media exposure.
Accounting and Legal Costs – for the work associated with auditing and compliance within the jurisdictions the WeiDex team operate in.
Office and Indirect Costs – for office space as well as other employment related costs.
Event Hosting and Sponsorship – to spread awareness about WeiDex through attending or sponsoring various events.
Tito Titov – CEO
Experienced Chief Executive Officer with a demonstrated history of working in the computer software industry. Skilled in web development and blockchain technology. Strong business development, communication and management skills. Public speaker and blockchain enthusiast.
Rali Ralev – CTO
Krasimir Raykov – Blockchain Architect
5+ years of experience in systems development, back-end development and a strong understanding of a statically typed languages like Java, C++ and Solidity.