COOPEX: THE FIRST COOPERATIVE DECENTRALIZED CRYPTOCURRENCY EXCHANGE
Evolution of bitcoin brought about the development of other cryptocurrency, the success of bitcoin made other cryptocurrency to surface each day. Bitcoin was developed in 2009 by Satoshi Nakamoto and was built on blockchain network. The success of bitcoin has brought about the development of Ethereum, Litecoin, and some good digital currencies. The global market capitalization is about 300billion dollars and it comprises thousands of cryptocurrencies while many cryptocurrencies are still under development. However, these cryptocurrencies cannot be used directly to purchase goods, thus, it needs to be exchanged into a fiat or desired cryptocurrency. For this cryptocurrency to be traded against a fiat or cryptocurrencies, a medium of exchange is required which is called exchange platform.
Exchange platform is an avenue where trading of cryptocurrencies occurs. Exchange can be centralized or decentralized. The difference between these two is the availability of a middle man in case of centralized and the absence of a third party in non-centralized. However, these cryptocurrencies are faced with many problems such as the exorbitant listing fees charged by reputable exchanges is quite disheartening and even the lengthy time to get listed after receiving payment is something that is not encouraging. These ruin the expectations of both the investors and the project team and leads to bankruptcy. High transaction charges experienced with a centralized exchange is nothing to write home about, seems nothing is free with a centralized platform, all transactions are being charged for. However, let me introduce you to a beautiful exchange platform which is user-friendly and makes trading experience a suitable one. This exchange is called COOPEX
The meaning of COOPEX is COOPerative Exchange. The sole aim of creating this exchange is cooperation with the users, a kind of friendly relationship will be formed with our users and we will encourage our users by giving rewards via the success of the exchange. We at COOPEX welcome ideas from our users as to the decision of what tokens to list by sending us the mail at email@example.com
- Transparency: This has become a great challenge in the world of exchange platforms. The team behind an exchange is not open enough as to the listing fees and when a coin will be listed on their exchange. Some even after collecting exorbitant listing fee will eventually fail to fulfill the listing of the token.
- Fraud/Theft: We have seen some exchanges which their sole aim is to run away with traders hard-earned funds. This issue is most challenging as its rare to know which exchange is fraud. Recently, Octaex and Bipaction shut down unjustly, without prior notification and went with users hard-earned funds.
- Exorbitant listing fees: Some new projects went into extinction because of their inability to get the required fees billed by the top exchanges, they end up listing at low volume exchanges and this eventually killed their projects. These problems need a prior intervention and solution as small projects are the ones been affected and larger projects experience little or no effect.
- Customer support: Some exchanges customers support are not effective and issues may take days to months before it gets resolved. This is not supposed to be as this is the only means in which customers can lodge complaints
SOLUTION PROVIDED BY COOPEX
We at COOPEX will make trading on our platform a suitable and beautiful experience by making trading easy;
- We will list ERC20 tokens at zero fees, even though running an exchange is expensive and difficult, but our exchange will be maintained using ICO funds and the little percentage obtained from trading fees. If need be to ask for listing fees, users vote will be taken before any action
- Trading fees for maker are slated to be 0.2% and taker fee is 0.25%. Deposit fee is free and withdrawal fees will be based on the respective network load of the currency been withdrawn.
- Customer’s service: Our customer service will be responsive and issues will get solved within a limited space of time. Our users’ convenience is our topmost priority.
- Transparency: we will be transparent regarding what is happening on our exchange, we don’t have the mind of stealing users’ funds or misleading projects. A professional customer service team will be hired to handle any issues users may encounter, Sandisk is planned to be used for this task.
- Token buy back: 75% of the trading fees will be used to buy back COOP token and these tokens will be burnt. Also, dividends program implementation for token holders is been looked into
- We will provide an easy to use trading interface
- We will allocate 50% of ICO funds to marketing
This is the native token of the COOPEX platform. We plan on buying back COOP token every month using 75% of the trading fees and these tokens will be burnt, the method of buy back will increase the price of the token and reduce the supply. This is a good innovation for holders
Token Name: COOP
Token Type: ERC20
Soft Cap: $500,000
Hard Cap: $950,000
ICO price: 1 COOP= 0.0002ETH
Expected Circulating supply: 10,000,000
Expected Total supply: 12,000,000
FOR MORE INFORMATION, CONTACT US VIA;
Written by: Adewale Yetunde
Bitcointalk username: Yethundey
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1690145;sa=summary