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BitMax.io goes beyond industry norm to support and advance listing partners

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BitMax.io goes beyond industry norm to support and advance listing partners
Source: BitMax

As a leading third-generation digital asset trading platform, BitMax.io [BTMX.com] has continued to grow its partnership network rapidly. With primary objective to list only top-tier quality projects in the crypto-space, BitMax.io goes beyond industry norm and strives to advance its listing partners by leveraging the strong relationship they have built with their users and community through multiple channels.

Joint Events

BitMax.io is widely known for its highly interactive communities on such popular social platforms as Telegram, Twitter, WeChat, and Weibo. With steady growth, the exchange has obtained over 35,000 loyal members with diverse background and from geographic regions.

In an effort to educate the users, BitMax.io frequently conducts joint-AMA sessions with listing partners. Such joint effort not only helps generating excitement but also broadens the discussion to the new projects among platform users.

BitMax.io also launches client acquisition campaigns for new listings, such as trading competitions and airdrops in which tokens of the newly listed projects are provided for the eligible users as incentives. For example, BitMax.io has recently announced the Lambda New Year Trading Competition. Users who complete the required tasks will be eligible for their share in a prize pool of 1.5 million BTMX and 2 million LAMB tokens.

Furthermore, BitMax.io assists European projects such as LTO Network in building their communities in Asia, while promoting brand awareness for Chinese projects such as CVN and COVA among its English-speaking audience. BitMax.io’s growing global network is a testament to its trading expertise as well as strategic marketing and branding services.

Value-added Advisory Partners

BitMax.io has established itself with solid reputation of transparency and integrity in the crypto-space, which has proved to bring additional benefits for their platform partners. For example, the projects Lambda and CVN were selected to be listed on coinmarketcap.com very shortly after their primary listing on BitMax.io. This can be largely attributable to BitMax.io’s reputation and impressive listing portfolio.

The partnerships between BitMax.io and Lambda, LTO, CVN, and COVA have frequently made headlines on top-tier media outlets such as Nasdaq, China Daily, CCN, Use The Bitcoin, NewsBTC, and AMB Crypto. It is well recognized that BitMax.io can bring more broad-based exposure to its partners and enhance their branding awareness across worldwide audience.

Upcoming Partnership

As part of its mission to provide platform users with exclusive access to top-tier projects, BitMax.io proudly announced the primary listing of Blockchain Exchange Alliance [Token: BXA]. As a technology-oriented digital financial institution, BXA places large emphasis on regulatory compliance and plans to take full advantage of their global network of cryptocurrency exchanges.

With the vision to establish a smart economy with efficient value transfer, their existing infrastructure, such as fiat-to-crypto currency gateways, enables BXA to break free from technical thresholds. They will create fiat-to-crypto trading platforms with deep liquidity and offer a wealth of digital financial services including cryptocurrency trading, real-time payments, security token offerings, and other financial derivatives. With BXA’s commitment to pioneering in their field, the primary listing partnership again highlights the BitMax.io’s proven track record in the highly competitive cryptocurrency exchange space.

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Press Release

What is USDQ and Q DAO?

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What is USDQ and Q DAO?
Source: Platinum Engineering

In this article, Slava Zheltov shares about USDQ, a unique decentralized stable coin that makes it easy to collateralize Bitcoin. As a Blockchain Architect at PLATINUM ENGINEERING, Slava acts as a full-stack front-end developer.

Within his team, Slava is known for impeccable track record regarding security and reliability in projects, which he’s contributed to. Read this article and start learning about a decentralization wave, currently disrupting stable coin.

The thought of your bitcoin and other cryptocurrencies fluctuating in value almost on a daily basis is a hard thing to accept. But fluctuation also affects regular money as we know it.

If we want cryptocurrencies to become the future of money it should solve the issue of volatility first. The USDQ Token is a proposal to stabilize crypto and transition it from being a speculative asset to a functional store-of-value.

Introducing USDQ

First and foremost, USDQ is a cryptocurrency stable token. Like Tether [USDT]. This essentially means that its price is stabilized or “pegged” to the US Dollar. The Q DAO platform, on the other hand, is a smart contract platform built on Ethereum. The smart contract mechanism used is referred to as Collateralized Debt Contract.

This cryptocurrency is supported by any Ethereum account and is also compatible by any smart contract developed to use the USDQ exchange function. It is more steady than most non-fiat currencies available on account of this mechanism of valuation.

Where does the USDQ value originate from?

The value of the USDQ stable coin is linked to the Q DAO smart contract platform using the Collateralized Debt Contract [CDC]. This means that anyone can choose to use their own assets, in this case, bitcoin [other top 10  crypto assets will be added in future], as collateral which works as a guarantee.

This is made possible by the smart contract platform. The collateral assets are locked after being deposited into the Q DAO smart contract platform and allows the owner to generate USDQ stable tokens in return while at the same time creating debt for the same owner.

This debt is necessary because it helps to maintain the collateral inside the smart contract until it is fully repaid by the amount of USDQ tokens it originally generated. When the repayment occurs then owners of the collateral can withdraw and receive their collateral back.

The ecosystem and economy of the Q DAO platform and USDQ Token directly links both of these to the amounts being used as guarantee or collaterals.

When more users request USDQ stable coins the total amount of Collateralized Debt Contacts [CDC] will increase along with it because it is the main way to obtain USDQ stable coins. This, in turn, increases the value of Q DAO tokens. These tokens are the last component of the USDQ ecosystem and they are Ethereum based tokens whose main use is to carefully manage the operations of the fund via means of a Decentralized Autonomous Organization [DAO] system.

This includes voting rights and the capability of enforcing decisions based on majority rules. This last part is essential to the supply and demand of the Q DAO tokens.

Inside the workings of a Q DAO transaction.

Step 1: Origin of the CDC smart contract and depositing collateral guarantees

To use Q DAO tokens a user must first send a request to the USDQ platform which initiates the CDС and its respective smart contract.

Whenever a user wishes to mint USDQ, they will be asked to collateralize an amount in Bitcoin that is higher than the loan’s value. As of now, this rate is 166%.

Step 2: Generation of USDQ Stable coins from the CDС smart contract.

The user then executes another request or transaction to the platform to retrieve the USDQ that was generated on the first step. The platform also jots down the debt that is generated by this user which is the amount in need of repayment to unlock the collateral guarantee. The guarantee is always higher than the USDQ stable coins made available for the user as a safety measure.

Step 3: User makes repayment of the generated debt.

When the user finally makes the repayment of the generated debt they gain full access to the locked collateral. There is also an accrued interest fee that is meant to be paid which is accumulated daily. This means that the Q DAO tokens generated initially are taken back and removed from circulation.

Q DAO Regulations

Since the entire operation has plenty of safety measures it is very self-regulated. Because all operations begin with any user having to provide collateral which will be lower to the amount of USDQ stable coins received it creates a dissuasive control to prevent fraudulent transactions.

Q DAO Projections

The Q DAO tokens are actually indicative of another type of cryptocurrency that is completely governed by smart contracts and economic mechanisms to influence its valuation more effectively. You should keep an eye on what the future holds for this cryptocurrency as it aims to become a pioneer in the industry of stable coins and cryptocurrencies alike.

USDQ is a decentralized stable coin, which uses algorithms to offer higher stability and reliability. Fully on-chain and monitored by high-speed AI robots, ecosystem offers reliable defenses against malicious acts and attacks.

First, run in the line of fiat-pegs, USDQ is brought by PLATINUM ENGINEERING Team, looking to edge together innovative solutions in collateralization, using stabilizing mechanisms and oracles for the high-endurance stable coin. Fully anonymous, USDQ breaks limits out of this legacy world.

PLATINUM ENGINEERING is always happy to share its latest development and architecture solutions, helping stakeholders to spread improvements across crypto projects. Being an expert company on the market, PLATINUM ENGINEERING has already helped 150 crypto startups, enabling them to efficiently raise funds and introduce blockchains to their business models.

With offices in Tokyo, Thailand, Russia, Belarus, and Korea, the team is always ready to have in-person meetings, focusing on how companies can leverage blockchain technology in order to meet their unique needs. The team welcomes readers to connect on Telegram, Facebook, or LinkedIn.

This overview may not be fully exhaustive and does not assess the viability of any project, nor its team legitimacy. Readers should conduct their own due diligence before using or investing in any of the listed Stablecoins.

This article represents the author’s opinions only and should not be considered investment advice. All described functionality in the article is still under development, it can be changed/processed. Please follow the updates.

Author Name

 

 

Sviatoslav Zheltov, IT Manager and Blockchain Architect in Platinum Engineering

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