Hello everyone, this new post I want to introduce about a very interesting and good project that is PhoenEx, and for more details, let's just go to the following discussion:
PHOENEX is a hybrid-decentralized exchange built for real-time, trustless, high-speed trading experience with integrated blockchain settlement features.
Users login using their email address or phone number and added layer of security, with deposits and withdrawals done through the blockchain without limit, while a centralized layer enables users to trade at high speeds without waiting for transactions to mine, create multiple orders and cancel orders instantly without gas costs. It is both a cryptocurrency exchange and a portfolio tracker, combined into one superior platform.
Challenges faced by existing exchanges today
1. Suboptimal Architecture
Many of the existing cryptocurrency exchanges today are built on the fly without much of careful planning. They often take the simplest approach to get the system up and running, without taking into consideration the compounding load as traffic grows.
Furthermore, layers of security that some exchanges integrate in the system add to the complexity resulting to slower trade speeds and delays in relaying information to the user interface. The flaws in the system create a ripple effect which ultimately leads to poor customer experience.
For a cryptocurrency exchange to have a long-term success, it must be built with end users in mind, taking into account the right level of security, speed, efficiency, and scalability.
2. Lacks Portfolio Tracker
All cryptocurrency exchanges today have one thing in common: they all lack the option where users can see their buy price alongside the current price. Our team believes this is one critical aspect that every exchange must have. This becomes especially handy for long term hodlers. Using this view, they can quickly check how much they gained or lost in just a quick glance without having to move from one tab to another just to compare their buy price and the current price.
3. Poor Customer Service Quality
A comprehensive understanding of investors and traders’ wants and needs is paramount in running a successful exchange. Their time and money are at stake and slight delays in attending to customer incidents can be very costly for both parties.
PHOENEX Exchange is built with end users in mind. In line with this, incidents raised by users will be handled promptly by people who have first-hand knowledge about the system and excellent customer service skills.
4. Expensive Fees
Exchange fees can be very expensive, from trading fees to withdrawal fees, especially to small investors and traders who only wish to get some returns on their investment. Moreover, some established cryptocurrency exchanges can charge ridiculous amount in order for a token to be listed in their system.
All of these seems widely accepted in the cryptocurrency space and it seems reasonable too. After all, running an exchange is expensive and ICOs can be immensely profitable.
However, we believe that charging high exchange fees and listing fees has the tendency to scare away investors and traders, and high-quality, bootstrapped projects and at the same time arouses temptation to list low-quality projects in the desire for more revenue.
5. Complex Listing Process
Listing requirements and process of many well-known exchanges are often tedious and despicably difficult to accomplish. The process can take weeks or months without guarantee of actually getting listed. Unfortunately, project developers and owners have no control over it and they are at the whim of the exchange.
PHOENEX transforms this process and only requires vital information from the project team. Service level agreements will be signed off to maintain quality and timely engagement between our exchange and project team.
Vision and Mission
An ancient mythical creature, the Phoenix rises from the ashes of its predecessors. Likewise, PhoenEx will rise among its competitors with all the best functionalities of established trading platforms and the convenience of a portfolio tracker, combined into one superior platform.
Information on the sale of Tokens
- Tokens for Sale: 75%
- Founders: 14%
- Bounty: 5%
- Exchange Listing: 3%
- Developers: 2%
- Advisors: 1%
Token Name: Phoenex
Token Symbol: PHNEX
Contract Address: 0x0811803D9B6EDF3C42AD0615756669F53a240fba
Token Standard: Ethereum ERC-20
Total Supply: 500,000,000
Soft Cap: 500 ETH
Hard Cap: 1000 ETH
Unsold Tokens: To be Burned
Token Presale Period: Feb 12, 2019 – Mar 15, 2019
1 ETH = 400,000 PHNEX
Payment accepted: Ethereum only
Min/Max Personal Cap: 0.01 ETH / no limit
Token Sale Distribution Method: Automatic/Selfdrop
Limited Supply of Tokens
The total number of PHOENEX tokens is 500 million PHOENEX Tokens with no functionality to mint more tokens. All unsold tokens will be burned. Tokens allocated to founders, developers, and advisors are locked in for 6 months.
Know Your Customer (KYC): None
Development of PHOENEX Exchange with a semi-decentralized architectural design and consists of Ethereum smart contract with integrated centralized matching engine and transaction layer.
User Acceptance Testing (UAT) and final revisions
PHOENEX Exchange launch on the mainnet.
Start accepting token listings in the PHOENEX Exchange
Continuous improvements to PHOENEX protocol and integration of new blockchain developments.
To find more relevant details please follow several sources for the following references:
Bitcointalk username: Sinseykoin