WeiDex — Turn Your Wei Into Ethers Decentralized Exchange

cratortouch (31)in #blockchain • 6 years ago

Weidex is the exchange of a decentralized full-featured (DEX). This guarantees the highest security, full transparency, and the logic of open source. The main idea behind the exchange that is decentralized is the removal of the third party and do not need to collect Your personal data such as email, name, or identification number. All the logic is held by the contract smart. Therefore only users who have a tendency to control their assets so as to make human error is very unlikely. Weidex support all token-based Ethereum and at the end of the year, will also support token-based Neo.

Furthermore, WeiDex is an exchange market that does not need to rely on a third partyservice to hold the customer's assets. Instead, the trades occur directly between users (peer to peer) through an automated process called smart contract.

VISION

The dream is to make decentralized exchanges widely used and the main method for transferring crypto assets. The vision is to provide the best services to the clients, from the user interface and user experience to the usability and performance. They want to create a great, strong community with brave dreams like theirs. The main task to achieve the dream is to develop a decentralized technology for cross-chain transactions.

PROBLEM

Cryptocurrency seems to be the latest technological trend that many investors are recently focusing on. Cryptocurrency trading also comes with its own challenges and these challenges arise because of the nature of the market and the fact that it uses blockchain technology, a decentralized approach, and platform.The challenges in cryptocurrency exchange have been a major setback to the growth of the industry and this points to the reason why the market is not globally adopted so far. Poor liquidity, poor market regulations, long process of compliance and complex integration are some of the challenges plaguing cryptocurrencies. Financial Institutions and banking sector benefits from these factors and government are planning to legalize the digital currencies.

Following the challenges stated above, WeiDex stated that the platform will have both advantages of centralized and decentralized exchanges. However, centralized exchanges are known for its easy to use, easy to access (availability) and transparency. As a decentralized exchange, WeiDex also have advantages over other existing decentralized exchanges, including:

Referral System Program

WeiDex is the first of its kinds, that offer 20% of users referral trading fees. More users you invite, more referral bonuses you will receive.

Low Fees

WeiDex is developed in a very fast and efficient blockchain network. It will make the transaction on the platform is effective and efficient.

Multiple Order Fulfillment

User can set numbers of order and the platform smart contract will make sure to take as many transactions as needed to fulfill your request, while he/she only charged for just one transaction.

Airdrop Program

The airdrop will occur once a month and will affects every unique address that meets the trading volume conditions. The maximum amount of tokens each unique address can receive is up to 250 WDX for the first 20 000 users who meet the trading volume requirement for the airdrop.

Cross-Chain Transactions

It's the most advanced technology over cryptocurrency exchange platforms. Through the Cross-Chain Transactions, WeiDex will unify different kind of blockchain (e.g. Ethereum and Neo) at the same platform.

SECURITY

MAIN TRADING ASSETS

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REP : Augur allows users to trustlessly create prediction markets.

0x : 0x is an open, permissionless protocol allowing for ERC20 tokens to be traded on the Ethereum blockchain.

STORJ : Next generation of decentralized object storage, end-to-end encrypted.

OMG : OmiseGO enables financial inclusion and interoperability through the public, decentralized OMG network.

BAT : The token can be used to obtain a variety of advertising and attention-based services.

GNT : The Ethereum-based CPU power renting network.

weiDex Token (WDX)

Token Details

Token name - weiDex

Token symbol - WDX

Total supply - 50 000 000 WDX

Token type - ERC-20

Token Decimals - 18

WeiDex Token (WDX) has several different uses:

Users will have the chance to reduce their trading fee by 50%

When new tokens are listed on weiDex, they can use WDX as a payment method.

Users will be able to swap WDX between different blockchains e.g. ETH and NEO. In the roadmap, there is integration with Neo. After this integration is done, users will be able to trade between this platform using WDX.

After new tokens are listed, they will provide airdrop to all WDX holders, proportionate to the amount of WDX each user has.

Distribution & Allocation

WeiDex’s intention is to allow a broad base of community members to participate in a Token Sale. WeiDex cannot guarantee that all prospective purchasers will be able to acquire their desired allocations during the Token Sale, where the maximum cap will be approximately $15 million. The amount of tokens sold during the Token Sale will be from a total sale pool of 30,000,000 WDX.

For a successful token sale reaching the hard cap the intended token distribution will be as follows:

The customers will receive an airdrop based on their trading volume. The total amount of tokens that will be provided as airdrop is 5,000,000 WDX.

The airdrop will occur once a month and will affects every unique address that meets the trading volume conditions. The maximum amount of tokens each unique address can receive is up to 250 WDX. Therefore, the first 20 000 users that meet the trading volume requirement will be affected by the airdrop.

The amount of tokens for the team, the advisory board and the marketing will be locked. Every 90 days 25% of these tokens can be released.
Therefore, the total amount of tokens for the team, advisors and marketing will be available after one year.

ROADMAP