CWEX token - simplifies the fine wine trading using blockchain technology.
WHAT IS CWEX
A new cryptocurrency allowing wine traders and cryptocurrency holders to trade & hold fine wine on www.cwinex.com exchange in CWEX/EOS/BTC/ETH/NEO/USDT.
Fine wines are among the most profitable investment assets. Demand for investing in them is growing significantly. However, current fine wine trading platforms are complicated and have high processing fees.
The CWEX exchange aims to establish easy to access and easy to use fine wine trading platform. Backed up by its partner, DotChain GmbH based in Switzerland, it guarantees anonymity and security of investment by providing blockchain based ownership certification to each bottle of wine traded on the trading platform.
This system of trading with ownership certificates significantly lowers the current processing fees, leaving the buyer almost 80% higher value of his investment at the start.
Key operating principles
The CWEX platform connects cryptocurrency owners to the fine wine market without regulations and bonded storage complications. It acts as an intermediary between sellers and buyers, ensuring smooth and fast technical performance in the trading process. Two business entities will be in charge of management: the Swiss-based company will ensure contractual validity of products, trade accountability and product authenticity, while the Hong Kong-based Crypto Wine Exchange (CWEX) will oversee a blockchain-based crypto marketplace that allows automated wine trading. We guarantee the security of investment to traders on the platform by the authority of the Swiss-based company, which acts as an auditor of fine wine vendors. This way, only fine wine vendors who successfully pass our strict auditing process will be able to list wines on the exchange. They will be required to provide insurance against fraud, a guarantee of good state and appropriate wine storage, as well as insurance against natural disasters or any other event that might pose a threat to investments. A unique certificate of authenticity issued on the blockchain will provide guarantee for any wine bottle traded on the platform. A buyer will receive a blockchain-based proof of ownership (a wine certificate on blockchain). Performance of trade on the platform will be exclusively through cryptocurrencies. Similar to current cryptocurrency exchanges, sellers and buyers will be anonymous during the trading process.
The first step of the trading process will be the listing of fine wines on the exchange. As previously stated, only fine wine vendors passing a strict auditing process conducted by the business entity in Switzerland will be able to list their wines for trading. Every bottle of wine listed on the exchange will be provided with a certificate of authenticity. The certificate of authenticity will be issued by the same business entity which audits and manages vendors to guarantee authenticity of wine bottles and the investment value. The blockchain-based certificate provides buyers with a single identification for his/her investment. The buyer can then hold the certificate for the price appreciation, trade it on the CWEX platform, or fulfill it into physical delivery.
The three options available to the fine wine certificate owners
Initially, there will be access to trading on the platform for the major coins as well as for the native token CWEX. The platform will offfer a reduced trading commission to traders who make transactions in the native token (CWEX). There will be a list of coins available for trade on the platform, which will expand gradually. Additional costs apply in case of physical wine delivery. Here is the scheme of how the trading process will work: The
The three options available to the fine wine certificate owners
Initially, there will be access to trading on the platform for the major coins as well as for the native token CWEX. The platform will offfer a reduced trading commission to traders who make transactions in the native token (CWEX). There will be a list of coins available for trade on the platform, which will expand gradually. Additional costs apply in case of physical wine delivery.
Here is the scheme of how the trading process will work:
The CWEX platform trading process
Security and transparency of trading
Buyers will be able to follow all transaction stages through their own account page. The system will provide security through the certificate of authenticity, smooth transactions, and transparency of the whole process. Backed up by the authority of its partner DotChain GmbH Switzerland, WEX Hong Kong will operate under established regulations, and guarantee transparent trading for sellers and buyers, smooth trading processes and high-quality customer service. To foster trading transparency and customer-focused service, the team will create an investor community area, with communication tools, private member investment information and relevant industry news.
Incentive for the business start-up
The team is launching a crowdsale set to raise funds for the creation of the world’s first crypto-based fine wine exchange. Our vision of vast potential in cryptocurrency to be traded for real assets. Our decision to initiate this exchange is based on the fact that fine wine is one of the high-ranked collector´s items and an asset of investment and value preservation.
Below is an illustration of how the asset class performed in different time horizons. For an investment period of 12 months, fine wine ranks first, with a performance of 24%, well higher than the next asset on the list – cars, with a performance of only 6%. Considering longer time ranges of 5 or 10 years, fine wine ranks as second most profitable investment.
Overview of the investment performance by the asset class – fine wine at the top of the list
Organization of the business operations
Two entities will perform business operations:
1. DotChain GmbH Switzerland will act as a governing authority responsible for the onboarding of partners and merchants, auditing partners and merchants stock, securing storage and insuring against disasters (e.g., loss of labels in a cellar flood, exposure to extreme temperatures, wine theft, business interruption, and duty liability). The company will be responsible in issuing blockchain-based ownership certification.
DotChain GmbH Switzerland – Business Operations
2. Crypto Wine Exchange Hong Kong (CWEX), a blockchain-based crypto marketplace for automated fine wine trading will assist traders, private clients, wine funds and crypto coin owners in trading together in a live market environment for the first time on an actual global scale. The platform will aid members in buying and selling fine wine in a consolidated marketplace, giving them the ability to set their prices and ultimately, maximizing their returns. A low commission rate of just 1% will lower the barriers to wine trading, increase volumes and make trading more cost-effective than ever before. The addition of a fully automated and free to use portfolio management system will allow members to personally manage their wine collections and trade them in an equal platform and a worldwide storage location.
WEX Limited Hong Kong - Trading Platform
Crypto Wine Exchange Hong Kong (CWEX), in partnership with DotChain GmbH Switzerland will guarantee anonymity and security of investments through a blockchain-based ownership certification system; every single bottle of wine offered for trade will be provided with a unique certificate of authenticity issued on the blockchain. These certificates will be traded between sellers and buyers, without wine ever leaving its warehouse storage location unless upon the buyers’ delivery request, to a location of their choice.
Business operations performed by two entities (DOT & CWEX)
Core components of the business growth
The foundation for CWEX business’ growth will be an influx of new crypto-investors wishing to diversify through physical assets. The online trading platform will bolster market liquidity further, leading to the growth of the business.
The exchange will grow through delivery of unparralled services while ensuring simplicity and transparency. We will focus on maintaining high-quality listings, enabled by exclusive partners and audited fine wine vendors. We will promote easy trading; unlimited selling and buying free of regulations and bonded storage.
CWEX exchange will assist fine wine vendors in grasping a new market and cryptocurrency holders in gaining tangible assets in exchange for their digital currency. CWEX will apply a commission fee for each trade on the platform. Based on the profit from commission’s fees, contributors to the CWEX platform development will enjoy payout benefits on profits made with trades.
We will communicate all relevant and important information in regards to the initial coin offering process and other business activities on our official website. Thus, participants in the pre-ICO and ICO, cryptocurrency community and all interested parties will be able to find all related information on a single platform.
The visual presentation of the business model
Current status of the project
In order to build a fully functional platform, we need support from cryptocurrency holders who recognize this business opportunity. The first phase of the project has already begun. We are in the process of platform architecture and layout planning. We have signed partnering agreements with several international fine wine vendors. After the platform is up and running, we will gradually add vending partners, while keeping offers and services our first priority and a fundamental prerequisite for the partnership with WEX Ltd Hong Kong.
The CWEX token model
CWEX token use
The CWEX platform will enable traders and customers to trade in CWEX token, and other major cryptocurrencies. By primarily applying selling/buying on the platform, the CWEX token will feature on major cryptocurrency exchanges.
Contributors to the CWEX platform development will enjoy payout benefits on profits made with the trades.
The CWEX token holders will benefit from: • A trading fee of 0.5% instead of 1% • CWEX can be used to deduct 50% trading fee by those in possession of it • Guarantee of exclusivity and priority in trading positions. By trading on CWEX exchange, our system automatically grant users discounts on deductible fees on the condition of holding sufficient CWEX in your account. The cost of a CWEX depends on market prices.
CWEX priority lane
For a limited time, newly introduced fine wine assets will only be purchasable using CWEX tokens. This “CWEX priority lane” period will apply to the more exclusive initial item offerings. The exclusivity periods are set to range from hours to a finite number of days depending on the anticipated interest on each asset.
CWEX token technology
The CWEX token is built on EOS distributed application platform. The benefits of using EOS as the means for ICO and subsequent platform design are the following:
- Unmatched transaction throughput on the blockchain
- EOS platform is designed with scalability at its core making it future proof
- No transaction cost for customers. No gas or transfer fees apply.
- Close to instantaneous transaction give a great user experience
- Multiple wallets available
- Intuitive smart contract programming model
The CWEX token sale model
Principal terms of the CWEX token sale
The token issuing company: WEX Limited, 25th floor Workington Tower, 78 Bonham Strand, Sheung Wan, Hong Kong, company registration number 2703922, in partnership with DotChain GmbH, Place Cornavin 7, CFF - Cornavin Railway Station, 1st floor, Geneva, CH-1201, Switzerland, company registration number CH-660.1.870.018-7.
Token creation will be limited after the maximum number of CWEX tokens is issued or at the end of contribution period. Unsold tokens will be burned.
Distribution of the CWEX token supply is as follows:
CWEX will sell 62% of its token supply during the pre-sale and main sale. 38% of token supply will be distributed to CWEX team (14%), bounty campaign (3%), future stakeholders (4%), legal and finance (5%) and community and growth (12%). Unsold tokens will be burned. Tokens allocated to the CWEX team will be locked for three years with a vesting schedule, and tokens to be used in the future will be locked for four years.
Funds raised during the contribution period will be solely for development and beneficial to CWEX exchange. A budget outlined below represents a scenario of our current soft cap:
Allocation of 25% of the raised funds to platform development, 25% to market compliance, 25% in expansion and operations and 25% for global partner compliance and management.
We are planning for the listing of the CWEX token on the major cryptocurrency exchanges – Poloniex, EtherDelta, OKEX, HitBTC, Bittrex, Binance and Bithumb.
Market research and concept development
Trading platform architecture and layout planning
Partnering contracts negotiations
Trading platform development
Trading platform launch – CWEX
Develop further asset trading
The Leadership Team
The CWEX team combines a passion for fine wines, industry expertise and proven record in finance, business development, sales, marketing and licensing.