A pure cryptocurrency exchange - Coinolix Exchange Limited.
In today’s market there are two types of exchanges, fiat currency basedexchange and pure cryptocurrency based exchange. we will only focus on purecryptocurrency exchange.
A fiat pegged cryptocurrency solution - Coinamia Fiat Coin(USDC).
A peer-to-peer crypto-currency design derived from Proof-of-stake consensusto provide network security. Each USDC coin unit issued into circulation isbacked in a one to one ratio (i.e. One USDC is one US dollar) by thecorresponding asset reserve held in bank by coinolix Limited. Thiscryptocurrency will be redeemable or exchangeable for the underlying assetreserve following to Coinolix Exchange Limited’s terms of service. it will betransferable and spendable, much the same as some other cryptocurrency.
Current Market Players
Binance
Binance has daily Trading volume 225 billion USD approx. it is not regulated and non of the company info on the website. Exchange stopped taking signups in January 2018 due to scaling issues in the website and went down for more than 24 hour in February month.Bittrex
Bittrex has daily trading volume of 500 million USD approx. it is regulated by New York bitcoin licence and registered in USA. Bittrex has also slow customer response and pending tickets scenarios. Bittrex stop taking new customer application from December 2017.Poloniex
Poloniex has daily trading volume of 140 million USD approx. it is registered and regulated in Boston, MA , USA. This exchange provides exchange, margin, and lending facilities to users and margin trading sometimes end up in over trading and forced liquidation, when all or part of your positions are closed.This exchange has also a reputation of slow customer responseBitfinex
Bitfinex has daily trading volume of 180 billion USD approx. it is registered and non-regulated exchange based in Hong kong. Bitfinex is also a hack victim in 2016 resulting 75 million loss of fund of its users and currently under investigation by USA government.Problem
Architecture
Trade frameworks should be designed starting from the earliest stage with security, effectiveness, speed, and adaptability as a main priority. Numerous exchanges frequently pick the easiest way to deal with get the framework up and running. While this may function admirably to start with, as activity develops, the framework won't ready to deal with the expanded network load.This frequently backs off the underlying advancement of exchange, yet it is basic for long haul achievement.Liquidity
Since the crypto business is so new, it isn't precisely coming in liquidity. Having a unsound order-book implies high slippage when trading cryptocurrency, which is exceptionally costly for traders.Platform security
Almost all cryptocurrency is immutable and there is no way to change once transaction is made because of this exchanges refuse to take responsibility for transactions.There are several exchanges that went down due to being hacked.There are propelled advancements that exchanges would profit by with respect to recognising endeavoured hack.Nonetheless, these advancements are expensive to the point that exchanges have no chance to get of gaining admittance to them, meaning they are liable to almost any programmer with enough know-how to get around their security frameworks.
Poor customer support
Traders are a different breed when it comes to users. Understanding the users problem is vital for running a successful exchange.At the point when the exchange demonstrations in a way that undermines trust of trader would be unacceptable, resulting in a tones of user complaints.Language support
Cryptocurrency market have no borders, Most of the exchanges concentrate just on one dialect or one nation and this result in poor support for this international market.Banking hurdles
Banks are additionally obstructing boundless trade selection of the exchanges, due to extreme volatile condition of cryptocurrency market. Banks put them self in back foot when it comes to verification and users background checks.Coinolix Exchange
Trading Engine
The matching engine of the Coinolix Exchange is fit for managing 1,200,000 order per second. High number of trade requests can be countered with the adaptable and extensible engine in a matter of moments. Along these lines, our matching engine can stand up for itself with one of the quickest and most secure engine available in current market.Thus, traders can be saved from basic issues like stuck trading requests or tedious handling of the trades.Features:
- Spot market trading
- Margin trading
- Futures market trades
Tradable Assets:
Coinolix exchange will support trading pairs in the following coins.- BTC
- ETH
- XRP
- NEO (ANS)
- LTC
- DASH
- CLX (Coinolix Coin)
- USDC (USD pegged Coinolix coin)
User interface (UI):
At Coinolix exchange We will provide cross-platform Device Coverage:- browser-based trading platform
- Android app platform
- iOS app platform
- PC (Windows, mac, linux) trading platform
- REST API
Language support
We will support English, Chinese，Russian, Japanese and Korean on all of our user interfaces. (The very initial release will be in English and Russian only.) More languages will be added over time.Revenue source
Trading fee: We will at first charge a 0.2% fees for every settled exchange. Different varieties of fees will be along these lines presented in future, including market maker-market taker, volume based discounts and 0 fee promotions.Withdrawal fee: We may charge some small amount of fees at the time of withdrawal.
Margin fee: On the off chance that you exchange on margin, there might be a charge or interest on the acquired sum.
Coin listing fee: We will select coins through our verification process and make sure that the assets to be listed on the exchange are unique and can create value in future, We may charge a fee for listing new coin on our exchange.
24/7 Customer support :
Rather than giving pre-designed script to the customer, we prefer to share support and responsibilities to be distributed within our staff and company in such a way that customer specific problem can be solved by the designated officer for that particular problem.Security :
DDoS attacks protection: Due to high-traffic activity cryptocurrency exchanges are regularly prone with DDoS attack. We use secure distributed network of CDN (content delivery network) server that can successfully take load of good number of database request in any given moment to keep exchange services online 24/7.Exchange audit: Our devoted Vulnerability Research Team will watch the platform execution day in and day out to keep any conceivable defencelessness attacks. We will also think of additional safety efforts as the market appropriation develops in upcoming future.
Encryption and Backup: We will use complex encryption strategies and perform day by day information reinforcements to ensure all the user data is secure. This approach moved down by decentralized foundation will enable us to secure our client's information even in the direct outcome imaginable of hypothetical hacking attack.
Two-factor authentication: by applying two-factor authentication on top of username and password to secure users from phishing site and email vulnerability.
Initial Coin Offering
Token Supply :
- CLX token will have total supply of 10,00,000,000 (One Billion).
- The number of CLX coin distribution during ICO is 500,000,000 CLX.
Accepted Contributions :
- Ethereum, Bitcoin, Litecoin, many more coming soon throughout the ICO process.
Token Delivery :
- Coinolix Coin (CLX) delivery will be processed after the final ICO Crowdsale is over. We will send CLX Coin to all contributors Wallet account within 7 days after the ICO Crowdsale.
ICO schedule
ICO Pre-Sale Crowdsale- ICO public Pre-Sale will start on with bonus offer on (GMT+3) 10:00 8 Oct 2018 with 20% Bonus.
- CLX coin price will be 0.20USD during Pre-Sale.
- ICO Pre-Sale ends on (GMT+3) 10:00 07 Nov 2018.
Final ICO Crowdsale will start as follow:
- Start on (GMT+3) 10:00 8 Nov 2018 for 35 Days.
- CLX coin price will be 0.25USD during Crowdsale.
- ICO Crowdsale ends on (GMT+3) 10:00 13 Dec 2018.
- Remaining token being destroyed after sales end.
Four week Bonus delivery structure for ICO Crowdsale
- 20% discount for the first Two week.
- 10% discount for the Third week.
- 5% discount for the fourth week.
- No discount on Last Week of ICO-SALE.
Token usage and advantages
- Token holders can use CLX token to pay almost all type of fees including, trading fee, withdrawal fee, listing fees.
- When users utilize CLX tokens to pay for charges, they will get a significant amount of rebate as per following table. Buy Back & Burn Program.
- Every quarter, we’ll use 20% of Coinolix exchange profit to buy back CLX coin sold during ICO and burn them.
- CLX coin buy back program will continue until 60% of all publicly issued CLX coin are burned.
- CLX coin Buy Back & Burn Program begins in Q3 2019.
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Affiliate Program
- Affiliate Program will start on 1 July 2018 and ends on 16 October 2018.
- For every person that signs up and Complete KYC process your Referral link, You now get 5% of any CLX coin purchase they make.
- Promoter will receive above mentioned bonus upon referred user's contribution during ICO Pre-sale or ICO crowdsale.
Token Distribution
- Total Supply : One Billion CLX
- Pre-Sale Crowdsale : 100 Million CLX
- Final Crowdsale : 400 Million CLX
- Founder Team : 200 Million CLX
- Advisor Team : 100 Million CLX
- Angel Investor : 150 Million CLX
- Bounty : 20 Million CLX
- Referral Program : 30 Million CLX
Fund usage
- 40% of the funds will be used to build the Coinolix Exchange platform and fiat coin framework upgrades, which includes hiring team and the development budget.
- 25% will be used for marketing of the platform in multiple advertising medium to make Coinolix exchange popular across the market and attract new customer base to the platform.
- 20% of fund will be kept as reserve for later use in development of ecosystem or adapt to any crisis or unforeseen circumstance.
- 10% will be spent on improvement of ecosystem and Infrastructure.
- 5% of our financial plan designated to legitimate expenses guarantees that we fit inside administrative parameters as our business stage extends.
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