Blockchain and alternative cryptocurrencies have revolutionized the way the world works. First conceived as a transparent, private, secure, and tamper-proof way to execute and record transactions, blockchain is disrupting the way we approach everything from healthcare, finance, and transportation to entertainment, education, and even politics and governance.
What bridges the gap between projects and the users who actually use and benefit from them are the crypto tokens – also known as alternative currencies – that power each project. These tokens are used to trade real value and services between different parties participating in or using an individual blockchain project or service. And even though this market is still somewhat in its infancy, billions of dollars’ worth of crypto trades take place on exchanges all over the world on a daily basis. In this way, exchanges play an important role in facilitating the growth of the crypto space by helping new ideas and services reach a global audience.
To put things in some perspective, consider this: there are currently over 500 active exchanges in operation around the world. These exchanges list a combination of 2,000 different cryptocurrencies, and they have supported the growth of the crypto space from when it was valued at roughly $10 billion in 2014 to when it reached an overall market cap of over $700 billion by early 2018 – an increase of over 7000% over a period of hardly four short years.
What’s important to note about the development of exchanges, however, is that it has taken place in successive stages. The majority of high-volume exchanges today operate in a centralized fashion and run much like a private company. We can think of the first generation of exchanges as operators such as Binance. These are large and successful operations that take a straightforward cut from transactions as trading fees. As the crypto market matured and developed, we saw the rise of 2nd generation exchanges. Think of Fcoin: such exchanges, realizing that trading can be incentivized in new and different ways, allowed users to save on trading fees by using special trading tokens issued by the exchange itself, and by allowing users to mine platform-specific tokens which could then be used to pay transaction fees.
Seeing the opportunity to provide a never-before-seen level of customer focus, however, BitMax.io was launched as the first truly 3rd generation cryptocurrency exchange that built upon the strengths of previous exchange models and added services never before seen in this space. And the third-generation exchange, BitMax.io, has officially started mining and reverse-mining on Nov 18, 8:09 PM EST [Nov 19, 9:09am, CST].
BitMax.io [BTMX.io] is a global operator of an innovative digital asset trading platform with a broad range of products and services for global retail and institutional clients. With its relentless focus on transparency, reliability, and quality of execution and client services, BitMax.io has established itself as a clear leader in the crypto trading and exchange space.
While Binance is renowned as a pioneer in the crypto exchange space and boasts extremely robust technical specs [such as the capacity to handle 1,400,000 orders per second, high liquidity, and multi-coin support], the platform pioneered the first iteration of basic exchange services. Innovations such as trans-fee-mining only came about with 2nd-generation services. While Fcoin does, in fact, offer trans-fee-mining services to its users, the next generation of crypto-enthusiasts want and expect more. They want smooth and low-cost, services; the ability to access a wider range of profit-making investment vehicles; the ability to benefit from mining and holding their tokens rather than suffering losses due either to liquidity issues or market volatility.
It is in these areas that BitMax.io is redefining how public exchanges should operate.
BitMax.io relentlessly focuses on transparency, high-performance, security, and liquidity. Furthermore, led by a truly global team of leaders and innovators from the financial and high-tech services spaces, the platform provides 24/7/365 global trading services, real-time settlement of trades, trading fees of 0.04% – the lowest in the industry – along with customer-focused trading models, including not just trans-fee-mining but reverse mining for the Maker trades as well, in which for all Maker trades, mined tokens are returned to the exchange for permanent lock-up to manage inflation and to provide traders with a healthy balanced secondary market for their mined tokens.
The BitMax.io team, with extensive experience with Wall Street and blue-chip financial companies, has tried to incorporate liquidity provision rebate mechanisms popular in the mature exchanges of financial services sector to the crypto exchange space to give traders more useful and attractive investment options. It is here that BitMax.io benefits heavily from the experiences of founder Mr. George Cao, the founder of Delpha Capital and a lifetime expert in electronic trading and portfolio management with the likes of Barclays Capital and Knight Capital Group. Mr. Cao also has a PhD from the University of Chicago. Alongside Mr. Cao is Ms. Ariel Ling, co-founder of BitMax.io. She has 18+ years’ experience in strategic planning and business development across multiple asset classes from equities, fixed income to FX with global heavyweights such as Deutsche Bank, Barclays Capital, and KPMG, making her uniquely qualified to lead BitMax.io’s global business strategy and portfolio management.
BitMax.io’s project selection criteria make very clear the platform’s commitment to supporting high-quality blockchain projects with their fundraising needs and providing traders with more investment opportunities. There are no project listing fees, and a comprehensive list of criteria must be met before projects are selected for listing. Furthermore, BitMax.io only lists high-quality projects and primary listing projects, such as the recent partnership with Lambda on the BitMax.io’s Primary Listing.
By empowering people to invest in cryptocurrency projects and initiatives of their own choice without hindrances such as high costs, limited investment options, and other restrictions on trade such as high spreads and trading slippage, BitMax.io is striving to advance crypto trading from very short-term speculative driven to mid-to-longer term investment mindset. It is focused on allowing more and more users to not only enter this space but to benefit from it as well in a scalable, transparent, and hassle-free way, and it is committed to the well-being listed projects and tokens as well as everyday users.
For more information, follow BitMAX on:
Ampleforth [AMPL] To Conduct First IEO on BitFinex and Ethfinex’s Blockchain Project Launch Platform, Tokinex, in June
Ampleforth’s whitepaper, co-authored by Manuel Ricon Cruz, a researcher at the Hoover Institute, introduces the Ampleforth protocol. Further context for understanding the implications of AMPL as a new type of synthetic commodity and economic theory is provided in the accompanying Red Book.
The appeal of digital assets like Bitcoin is that they are uncorrelated with traditional asset groups. But, among large-cap digital assets, there is a high degree of non-diversifiable risk and the price volatility of most cryptocurrencies mimic that of Bitcoin.
Evan Kuo, CEO, and founder of Ampleforth said,
“We see Amples as having a near-term utility that naturally dovetails into a much bigger vision, and I can’t wait to see it unfold. The Bitfinex and Ethfinex user communities are among the best in the industry, and we are excited to work alongside the Tokinex team for Amples’ exchange debut.”
Ampleforth’s protocol receives exchange-rate information from trusted oracles and propagates that to holders of Amples by proportionally increasing or decreasing the number of tokens each individual holds according to the magnitude of the exchange rate fluctuations over the previous 24 hrs.
For traders, these changes in the exchange rate and quantity translate into changes in Ample’s market capitalization. Ultimately, unique trader behavior in response to the protocol’s incentives is expected to produce an asset price with lower correlation to Bitcoin than other digital assets.
Jean-Louis van der Velde, CEO at Bitfinex, stated
“The Ampleforth project is fascinating to us with its refreshing vision to become a unique digital asset and serve as a potential future reserve currency. We believe it can provide a unique volatility profile, uncorrelated to other digital and traditional assets. This uncharted territory makes Ampleforth, and the team behind it, the perfect first project to list on Tokinex and we are excited to provide an opportunity for the community to be a part of it.”
Paul Veradittakit of Pantera Capital said,
“Ampleforth is interesting because there’s not another asset like it, so it will likely not be correlated with other large-cap cryptocurrencies. With more traders and enthusiasts entering the ecosystem since the last rise, there needs to be an option like AMPLs, which could reduce the risk for the entire space, and potentially attract more institutional interest.”
Ampleforth is a digital asset protocol for smart commodity-money funded by Brian Armstrong, True Ventures, Pantera Capital, and Slow Ventures. For more information, please visit our website.
Launched in May 2019, Tokinex is the IEO platform of Bitfinex and Ethfinex that brings fair opportunity to participate in curated token projects. It gives qualified participants the chance to contribute to pre-vetted token sales directly from their personal wallet through common crypto assets, and with no personal data or funds held by the exchange.
Tokinex uniquely does not require tokens to pay an upfront fee for listing and following a successful capital raise are subsequently listed on the two exchanges as permitted by applicable law.
For further information please contact.
Ripple-backed InstaReM to roll out cross-border transactions by collaborating with Thailand’s Kasikornbank
Rabobank announces plans to drop its crypto-project
BSV STN is mining 1.4-gigabyte blocks; Is this a scaling solution or a journey towards centralization?
Ripple: SCB Thailand asks crypto-enthusiasts to wait for announcement regarding XRP adoption
Grayscale Investments: Ethereum Trust [ETHE] receives FINRA approval for public quotation on OTC markets
Tron [TRX] announces future trading on OKEx platform from May 20
Bitcoin’s [BTC] Lightning Network is awesome, says Blockstream’s Samson Mow
Crypto is replacing the US Dollar and no one seems to be noticing, claims prominent investor Robert Kiyosaki
Coinbase extends XRP trading access to New York users; coin pumps by 22%
Litecoin [LTC] bought at $100k on Binance when coin was trading at $90
Cryptopia hack: Over $7 million worth of Ethereum [ETH] transferred by hacker to unknown wallet
Tron [TRX] DApps surpass Ethereum, EOS in terms of weekly active and new users
XRP/Ripple: R3’s Corda to further partnership with credit-union centric CULedger
Bitcoin? Bitcoin Cash? Bitcoin Satoshi’s Vision? Will the real Bitcoin please stand up?