Cryptonity – The Crypto Community Exchange
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Cryptonity is the combination of two words: Crypto and Community. Simple but strong and meaningful, their goal is to be an exchange that is respected by the Cryptocurrency Community. They aim at providing the most comprehensive, secure, transparent and collaborative exchange platform in the market. They want to bring good vibes to the Crypto World, breaking with the ‘only profit’ policy of most exchanges. Building a cryptocurrency exchange is not an easy task. Building an exchange that provides a complete set of tools and features is an even more challenging ambition. At Cryptonity, they are conscious of the time, self-investment, and passion and hard work a project like this demand.
Problem And Solution On Current Exchange
Each company has problems on current exchange. The company has two different categories of the problems especially in cryptocurrency exchange namely the big players on the one hand and the challengers on the other hand. The challengers don care about user or customers and do not worried about the credibility.
The major is accepting to pay expensive fees. The first is the company does not interact with customers and make any improvements such as UI upgrades. It just focuses on maximizing the incomes. The second one is not transparent at the point. So, it is so hard to understand how some users can trust and engage the money on those exchanges.
For the regarding big players, there are many questions that have to answer such as are they real companies? Do they have plans to support FIAT? Etc it is related with security and transparency issues and big players can be the main target for hackers and thieves. Thus, the cryptonity has solution for all those problems because this company has aim to provide the most comprehensive, secure, transparent and collaborative exchange platform in the market. So, the cryptonity will develop based on their aims.
The coken in crytonity, it is called cryptonity token because it includes XNY. The token will give guarantee to the owner for discounts 50% when the Cryptonity exchange about fees. Cryptonity token allocation will be including in several things such as public token, team, bounty, insurance ad advisors.
The token sale will be done in multiple cyrptocurrencies that are Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Binance coin. This token sale will open for 2 months. The token sale has soft cap and hard cap. Soft cap is $500.000 USD and hard cap is $20.120.000 USD. In January 15th 2019 token will distribution and cryptonity official release with cryptonity token (XNY) as trading pair.
Cryptonity Exchange Principles
To ensure to their customers the most convenient trading experience on any device, they will develop the following interfaces:
1. Device coverage is to ensure to customers the most convenient trading experience on any device. The cryptonity will develop web-based trading client, android etc.
2. Multilingual support is to provide the most comfortable experience to users.
3. Trading pairs is the cryptonity exchange will support trading pairs such as BTC, Ethereum, Cryptonity and Tether.
4. Economic scheme is about the fees applicable on exchange such as exchange fees, withdrawal fees etc.
5. Coins and listing policy is the company will charge a fixed fee to be listed on platform. The company will select coin based on liquidity, community support, user base, use case and credibility. This is including low market cap coins.
6. Cryptonity blockchain, it will start working on it as soon as ICO finishes and the company has planned to develop and launch the blockchain.
7. Decentralized exchange, the plan is to build decentralized exchange in the future.
8. Heroes program, the company will have the mission to spread the word about cryptonity by social network or other tools.
9. Insurance and customer service, the company will be the first crypto exchange to provide users an insurance.
Based on the cryptonity exchange principles, there are cryptonity exchange features such as security tools, matching engine to support the market orders, limit orders and stop-loss orders. The other features are FIAT deposits and withdrawals, analysis and strategy tools, forks and airdrops, proof-of-stake wallets, staking and masternode.
At the initial launch, Cryptonity Exchange will support trading pairs in the following coins:
- Bitcoin (BTC)
- Ethereum (ETH)
- Cryptonity Token (XNY, will be available once our ICO is finished)
- Tether (USDT)
They plan to support FIAT currencies as trading pairs; they will do their best to have it implemented as soon as possible.
Insurance & Customer Service
They want to be the first crypto exchange to provide to their users insurance. They trust their technical architecture and want their users to trust it as well. Security and integrity is part of their top priorities but they also know that perfection (a platform that is 100% secure) doesn’t exist. Even decentralized exchanges can have flaws and we’ve seen that with the case of Ether Delta.
Proof-Of-Stake Wallets, Staking & Masternode
They aim at being one of the first exchanges to support staking rewards for their customers. They believe that this is actually the best argument we have, to convince the crypto-community to use Cryptonity Exchange rather than any other exchange. If a user holds Proof-of-Stake coins on Cryptonity, They will credit his/her staking onto his/her wallet. Proof-of-Stake Rewards feature is planned or Q3 2019. They will also consider implementing Masternode feature in the future.
Their plan is to build a decentralized exchange in the future, and they want to do it with the participation of the community. That’s why they will launch a “code-a-thon” program, in which the best implementation(s) and/or team(s) will be offered a prize pool, paid in XNY.
Token Sale Rules &Details
Their token Sale will be done in multiple cryptocurrencies that are: Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Binance Coin. Their token Sale will be opened for 2 months (61 days to be more precise). All investors need to complete their “Know Your Customer” (KYC) registration to be able to withdraw their tokens.
Token Sale Details
Link BitcointalK: MeGaS1k