The cryptocurrency sector has seen adoption come in various forms over the years — people bought crypto kitties for fun, later the ICO mania happened, and now we’re seeing a swarm of new retail money entering through DeFi and NFTs. But there is one crucial element in the mix that seldom receives praise — the exchanges. These perpetually operating crypto markets have steadily propelled much of Bitcoin’s popularity since it first began trading in March 2010. Today, more than $750 million worth of Bitcoin is traded every day on Binance, Coinbase Pro and Kraken - the top 3 exchanges in terms of spot volume. These numbers make it very clear that much of the crypto activity in a day comes from exchanges. Granted, crypto exchanges are notorious for being in the headlines every other week, but one could also argue they really are the unsung heroes that are pushing the boundaries of this industry in many ways.
The world of cryptocurrency exchanges is, however, one filled with brutal competition and a plethora of regulatory hurdles. On top of this, the inherent scaling issues faced by Bitcoin and Ethereum networks result in further complications such as slow transaction fees and high network (gas) fees. The brunt of these challenges is usually faced by traders, either in the form of liquidity concerns or the gradual decay of profits due to expensive trading fees charged by the platform. Needless to say, there is a serious dearth of trading platforms that enhance the overall experience and make trading less troublesome as an activity.
The DEXFIN Platform
This is where cryptocurrency exchanges like DEXFIN are designed to shine. DEXFIN is a cryptocurrency trading platform that is making investing more attractive by giving its users access to cutting-edge tools and innovative features. Unlike traditional exchanges, DEXFIN’s platform provides advanced capabilities that let users track trends, analyze the potential and map their investment trails. Taking this a step further, their AI-based matchmaking engine can recommend the best possible investment opportunities depending on the user’s risk profile and help mitigate the risk of spurious tokens. This helps traders operate more efficiently since the exchange handles the responsibility of due diligence. Novice traders can also follow professional traders on the platform to get a hang of the ropes and improve their trading style.
Most exchanges today have to deal with the constant problem of slow transaction speeds. To address this issue, DEXFIN implements high-tech infrastructure and dedicated servers to achieve ultra-fast transaction speeds during times of high congestion. Considering how some of the top exchanges start acting up during times of high volatility, having a reliable platform to trade volatile markets will be a boon for many traders. To ensure a seamless onboarding experience, DEXFIN uses an E-KYC system that lets users register and start trading effortlessly without the need for actual paperwork.
DEXFIN also has a strong B2B offering which provides compliance-based services to projects to help with functions such as Security Token Offering (STO), consulting services for tokenization of traditional assets, platform onboarding and marketing services. Businesses in search of capital can utilize the DEXFIN Platform to generate a security token and initiate an STO.
This does not only help legitimate projects stand apart from the noise, but it also provides direct-to-investor access to drive the global distribution of their security token. Startups have the option of choosing an Express Services package that lets them use a standardized solution to generate a fully compliant security token. For bigger projects, the Complete Services package provides a highly customized solution. In addition to this, DEXFIN can also provide access to KYC/AML compliant investors for an average fee of €5 per investor.
The beta version of DEXFIN was released in September, 2020. Users can start using the full version of DEXFIN’s digital asset exchange as early as November 25, 2020.
DXF and Tokenomics
DEXFIN’s own utility token, DXF, is an ERC-20 token that gives users multiple benefits for holding and transacting with DXF. By implementing the right configurations, DXF token standard enables compatible transmissions both on stock exchanges and between individuals, secondary stores and in various jurisdictions. Holders of DXF can use the token to pay for platform fees, buy or withdraw crypto via ATM and get access to airdrops and retail discounts. Going beyond the features offered by the native tokens of other exchanges, DEXFIN users have the flexibility of either spending their DXF or holding it to accumulate even more DXF through platform rewards.
The total supply of DXF is capped at 1,168,000,000 tokens of which 45% will be available during the token sale. Tokens unsold during this period will be burnt, 23% will remain locked for the further development of the platform or be sold to funds and institutional investors, while 18% will be kept for founders and employees, while the remaining 14% will be kept as a liquidity buffer and for user rewards. The exchange will also implement a loyalty rewards program that gives trading fee discounts of up to 50% based on the amount of DXF held. Users in the higher tiered loyalty levels and institutional investors can gain access to a host of other benefits such as early access to investments and participation in the retrocession fee schedule.
What’s Next for DEXFIN
After the launch of the DEXFIN exchange, DEXFIN will be the first to exclusively list the VICTORIA VR Token project. This virtual reality project will have a global reach, based on Oculus technology, with the goal of connecting people through a whole new medium. Thanks to the DEXFIN exchange and the sale of the VICTORIA VR token, you have a unique opportunity to participate in global companies and exploit the growth and potential of the virtual world. This virtual reality project will have a global reach, being the first open world in photorealistic virtual reality, based on Unreal Engine and Oculus technology
The cryptocurrency exchange landscape is currently dominated by a handful of companies that offer products with limited scope. DEXFIN is set to take on the competition with a multi-faceted offering that emphasizes user experience and speed over everything else. Furthermore, by combining a game-changing trading platform with a robust infrastructure for crowdfunding, DEXFIN is providing the much needed exposure which a lot of nascent projects cannot afford during their early stages.