Cloverdex - Modular Hybrid Decentralized Exchange
Today there are a host of platforms to choose from, but not all exchanges are created equal.
Types of exchanges
Trading Platforms — These are websites that connect buyers and sellers and take a fee from each transaction. Direct Trading — These platforms offer direct person to person trading where individuals from different countries can exchange currency. Direct trading exchanges don’t have a fixed market price, instead, each seller sets their own exchange rate. Brokers — These are websites that anyone can visit to buy cryptocurrencies at a price set by the broker. Cryptocurrency brokers are similar to foreign exchange dealers.
Most cryptocurrency trading happens on centralized exchanges offering traders benefits like increased efficiency , large liquidity pools, and real-time asset price discovery but most most cryptocurrency exchanges built their platforms during boom times and couldn’t keep up, building hastily means cutting some corners, results you can see poor customer service with large delays, slow sign up verification, deposits and withdrawals, results you can’t see platforms that won’t scale, poor security, customer funds at risk, exchanges aren’t built on tech and security alone to lead the pack you have to build trust.
A decentralized exchange is an exchange market that does not rely on a third party service to hold the customer's funds. Instead, trades occur directly between users (peer to peer) through an automated process. This system can be achieved by creating proxy tokens (crypto assets that represent a certain fiat or crypto currency) or assets (that can represent shares in a company for example) or through a decentralized multi-signature escrow system, among other solutions that are currently being developed.
One of the biggest challenges that traders are facing in global trade today, is the barriers that keep their goods and products from reaching their destination in a timely and efficient manner. With delays like payment terms, delivery schedules, and registration requirements, traders are experiencing an outdated system that is holding them back from their trading potential. The result of these delays and restrictions is that traders are having the tendency to execute transactions locally rather than on a global scale, effectively harming the growth of global trade.
Cloverdex - Modular Hybrid Decentralized Exchange:
Cloverdex will provide a modular hybrid decentralised exchange and secure multi-currency wallet (implementing multi-signature technology) with strong focus on cryptocurrency market analysis and knowledge sharing, user accessibility and friendliness, social trading, and best practice regulatory and legal compliance.
Cloverdex offers a one-stop shop for multiple fiat gateways, hundreds of cryptocurrencies, and crypto debit card facilities. Incorporating the speed and liquidity of centralised exchanges with the security afforded in a decentralised exchange where the user owns their private keys. The Cloverdex trading platform will cater to both beginners and advance users through 3-step ethos. This means that all actions (e.g. registration, trading) can be completed within 3 steps. Multiple Fiat pairings – up to 10 different fiat pairings initially with more to come.
problems does Cloverdex solves?
- Usability – current exchanges involve too many steps and are tailored for advance users or assumes that the user has pre-existing knowledge
- Security – cryptocurrency exchanges have been susceptible to hacking and internal fraud because of lack in security focus and funding.
- Liquidity – having not enough people trading on an exchange results in greater difficulty to trade, higher asset costs for investors, and difﬁculty in withdrawing funds in ﬁat.
- Transparency – Hidden trading fees and commission charged results in higher investor cost and lack of trust.
- Compliance – customers are hesitant to enter the cryptocurrency market due to perceived uncertainty in regulations and laws.
- Education – most exchanges cater to advance traders and lack proper education and easy to use tools for beginner investors.
- Accessibility of funds – current solutions to bridge traditional payment infrastructure and blockchain based assets are not seamless and involves high transaction fees either through upfront fees or currency conversion rates, both of which form a disincentive for use.
the ultimate aim of Cloverdex Team:
The purpose of the cryptocurrency exchange is to allow trade between fiat currency and
blockchain based assets, and between different types of blockchain based assets. The
exchange will act as the broker between buyers and sellers and arrange transactions between
parties for a small transparent fee.
A key differentiating feature in the Cloverdex exchange will be its focus on ease of use and
friendliness via our 3-step design ethos and its ability to provide timely and relevant news,
information, market analytics and statistics to better educate users and encourage their market
participation. This feature will be further explored in section 3.5.10.
The exchange will offer a large number of cryptocurrencies and alternative coins (altcoins)
including but not limited to Bitcoin, Ethereum, XRP, Bitcoin Cash and more. As the platform
matures and CLOVERDEX begin integrating external exchange trades, users will have seamless access to hundreds more altcoins.
Cloverdex Token Key Facts:
Token Key Dates
- ICO Presale tokens +30% Bonus: now until 15 Feb 2019
- ICO Crowdsale + 5% to 15%: 16 Feb 2019
August 2018 Whitepaper; Development of alpha prototype; Development of promotional material (video, website); Community engagement and building.
December 2018 Pre-sale; Pre-sale will start mid December 2018; Start selection and negotiations with payment processor; Intensify Marketing initiative.
January 2019 Technical talent procurement; Technical talent and development team formed; Intensify Marketing initiative.
January - February 2019 Public crowdsale; Public crowdsale commence; Audit of crowdsale results.
Beta exchange and wallet launch; Closed Beta launch early in the year; At the beginning of the year; March / April 2019; First major security audit by external service provider
Full release; Multi-currency wallet - includes up to 10 fiat pairs; Debit Card support added and shipped to customers.
Majority decentralized exchange module; Increase number of pairs based on customer demand; Support for over 100+ cryptocurrencies and tokens. We will ensure that the quality of cryptocurrencies / tokens are available on the trading platform; Internal testing of hybrid decentralized exchange module.
Hybrid Decentralised Exchange migration; Seamless model of decentralized model.
For more information about the Project, please visit the following links:
WEBSITE : https://www.cloverdex.io
Bitcointalk username: Mrtenex
Bitcointalk url: https://bitcointalk.org/index.php?action=profile;u=1212994