BitMart Announces Effect.AI [EFX] to be the First NEP-5 Token Listed on Their Platform - AMBCrypto
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BitMart Announces Effect.AI [EFX] to be the First NEP-5 Token Listed on Their Platform

Biraajmaan Tamuly

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BitMart Announces Effect.AI (EFX) to be the First NEP-5 Token Listed on Their Platform
Source: BitMart

Following the integration of NEO and NEP-5 token compatibility, BitMart Exchange proudly announced that Effect.AI (EFX) will be the first NEP-5 token to be listed on their platform starting June 18th. EFX tokens can be deposited the same day EFX is listed, with trading features available on June 21st, followed by withdrawal features on June 26th.
To celebrate the debut listing of EFX, BitMart is holding two separate trading competitions worth a total of 500,000 EFX beginning June 21st to July 1st. Registered users may only choose one promotion to participate in.
400,000 EFX Trading Contest
BitMart will hold a trading contest in which users will be ranked in terms of the total EFX volume traded on their BitMart account (including both buy and sell orders) across all EFX trading pairs during the competition period.

  •   1st: 100,000 EFX
  •   2nd: 70,000 EFX
  •   3rd: 40,000 EFX
  •   4th – 10th: split 90,000 EFX evenly
  •   11th – 20th: split 100,000 EFX evenly

100,000 EFX Trading Lottery
BitMart will hold a trading contest in which users with a trading volume (including both buy and sell orders) of at least 100,000 EFX will be eligible to participate. 10 lucky winners will be drawn to split 100,000 EFX evenly. The drawing of the winners will be live streamed online. BitMart will announce the URL and broadcast date for the live stream in the near future.
About Effect.AI:
Effect.AI is developing a Decentralized Network, called The Effect Network, for Artificial Intelligence and AI related services on the NEO blockchain. Effect.AI’s main objective is to build a platform that will stimulate AI development and the creation of various AI services. The platform will be more democratic, accessible, and easy to use than what is currently available.
The release of The Effect Network is divided into 3 phases: A Decentralized Mechanical Turk called Effect Force, a Decentralized Smart Market, as well as providing a decentralized, distributed computational platform that will run popular deep learning frameworks.
Phase 1: EFFECT Force
The first phase of The Effect Network will be an interactive marketplace for tasks that require human intelligence. A Decentralized Mechanical Turk called Effect Force. It allows anyone in the world to perform a wide range of tasks and receive fair payment.
It will give AI developers and businesses access to a large workforce of human intelligence to train AI algorithms. When a worker completes a task, they are paid with a network NEP-5 token.
Phase 2: EFFECT Smart Market
The Effect AI Smart Market is a decentralized platform where people can offer and buy AI services. This phase is a natural progression of the network. It will be an open marketplace for offering AI Algorithms as a service. This marketplace or exchange is where AI developers with a functional Algorithms can sell, rent or give out its service for a simple and easy payment with the Effect token.
Each Algorithm will have its own wallet to allow for easy acceptance of transactions. Also within this marketplace, Algorithms have the ability to communicate and collaborate with other algorithms and purchase services from each other.
Phase 3: EFFECT Power
The last phase provides a decentralized, distributed computational platform that will run popular deep learning frameworks. The Effect decentralized compute engine is based on popular deep-learning networks like Caffe, MXNet and Tensor flow.
Effect.AI’s goal is to distribute the computational power of all AI so there is not this one point of weakness. They can do this through partnerships with projects like Golem with their Supercomputer or create the framework themselves.
About BitMart:
BitMart is a premier digital asset trading platform with more than 430,000 users from over 160 countries. BitMart offers crypto-to-crypto trading for coins and utility tokens only. BitMart has a global team with extensive industry experience from all over the world including the United States, Russia, India, Singapore, Japan and Hong Kong. Since launching in March, BitMart has a total trading volume of over $190,000,000 USD.
BitMart currently offers 33 trading pairs for BTC, ETH, USDT, EFX, XRR, XLM, EOS, VEN, NEO, OMG, ZRX, IOST, ABT, MOBI, KAN, and BMX.
Currently, BitMart offers several promotions including their new Refer-A-Friend Program, a Lucky Draw Trading Event. In BitMart’s Refer-A-Friend Program, by inviting friends to join using a referral link, users can receive a commission from each transaction made by others.
The commission rate is 50% of the transaction fees from direct referrals, and 10% from indirect referrals. In BitMart’s Lucky Draw Event, registered users can qualify to win free prizes every day by completing a transaction greater than or equal to 0.05 BTC. Every lucky draw will result in winning either digital currency or a physical prize.
To learn more about BitMart visit their WebsiteTwitter or join their Telegram.

Biraajmaan covers market trends of major cryptocurrencies. As a graduate in engineering, his interests lie in Blockchain technology. With over a year as a journalist, his articles focus on US and UK markets.

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