CRYPTONITY: A SECURE AND TRANSPARENT CRYPTO COMMUNITY EXCHANGE

INTRODUCTION

Over the years, cryptocurrency and blockchain technology has gained more popularity among individuals, companies and corporate organizations across the world as the expansion and acceptance of cryptocurrency increases on a daily basis. There are more than 2,00 different cryptocurrencies in the world with each designed to solve a problem.

With the current exponential growth of blockchain technology, it is however presumed that blockchain technology will be indispensable for companies and individuals in the nearest future as it eliminates the hurdles of a third party agent in transactions and provides a fast, cheap and secured method of payments.

This exponential growth of cryptocurrencies has eventually led to the development of different cryptocurrency exchange platforms where different cryptocurrencies are traded against each other in a pair.
However, the existing cryptocurrency exchange platforms are lagging behind at giving the best trading experience to their users which is debilitating to users’ experience. Examples of the problems associated with the existing cryptocurrency exchanges are summarized below:

Most of the existing exchanges do not care about their users or customers and seem not to be worried about their credibility as majority of them list coins who accept to pay their expensive fees without considering the feedback about the coins from their customers before listing them which eventually makes them lack interaction and communication with their customers as they are not carried along in the operations of the exchanges.

Similarly, most of these exchanges are not transparent as they are only after their immediate incomes which makes some of them list coins with low capitalization and low volume as long as the developers of the coins meet their exorbitant listing fees.

In Addition, the security and transparency issues associated with the existing cryptocurrency exchanges pose a lot of questions and are not enough to raise an eyebrow from the users of these exchanges. Users on these exchanges are often not sure if these exchanges are real companies or not but still trade on their platforms blindly all the same.

Some of these exchanges especially the big players are not regulated and did follow due process while setting up their trading platforms and most of them do not support Fiat currencies. Other challenges associated with these existing exchanges are the fact that most of them do not even have a bank account, they don’t have a proper insurance policy in case coins are stolen due as a result of hack, unknown location and absence of live chat support and phone numbers to call in case of emergencies. These problems and issues with the existing cryptocurrency exchanges mentioned above among others pose A threat to the security of users’ digital assets and eventually are not safe for trading and hence a need to provide solutions to improve the safety and security of users’ assets and information is highly necessary to better improve the experience of users on cryptocurrency exchange platforms.

INTRODUCING CRYPTONITY IN PROVIDING SOLUTIONS TO THESE PROBLEMS

Cryptonity is an exchange that involves cryptocurrency and community which means the community/users on the platform which means priority will be given to the community.

Cryptonity provides a secured, transparent and collaborative cryptocurrency exchange for the convenience and comfort of users that trades their digital assets on the trading platform.

In order to ensure security. Cryptonity will work with the best known security experts in the cryptocurrency markets to tackle the possibility of stolen coins of users on the platform and also to prevent online hacking and theft. Also, the Cryptonity exchange will be ausited twice a year by independent security companies and the audit results will be communicated to all the users on the platform and the security partners of the exchange will be mentioned publicly on the exchange website for the purpose of transparency to all users.

Cryptonity also aims to guarantee users the safest trading experience on the trading platform by setting up an insurance policy to refund their uses in case of any losses due to an attack

Additionally, in other to engage the users in a collaborative effort and involve them in the evolution of the trading platform, Crytonity will provide various communication channels where they can reach out to and get feedback from their users in case of any emergency and they will respond to their users as swiftly as possible. Cryptonity is poised to getting their community involved in the evolution of the trading platforms in terms of features to be developed ,coins to be listed and other activities on the exchange and in line with this, a “Feature Request” function will be implemented for users to submit the features they would like to see on the platform and coins will be listed based on the feedback and reviews gathered from the users on the platforms.

Cryptonity also plans to implement the deposit and withdrawal of FIAT currency to make trading easy for users and coins can be purchased with fiat currency and sold for fiat currency too.

Lastly, Cryptonity will provide their users with a comprehensive and ergonomic set of trading tools which include a large number of languages where users can use from to make trading experience easy and smooth for users. The languages that will be featured at the launch of the platform are English, French, Chinese and Korean while other languages will be added with time and the languages will be added based on the request of users.

CRYPTONITY TOKEN (XNY)

The utility token of the Cryptonity exchange platform is called ‘XNY’ and it is an ERC20 compatible token that is based on Ethereum blockchain. Although Cryptonity is plannining to develop it’s own blockchain in the nearest future as soon as the token sale is finalized. The total supply of the Cryptonity tokens (XNY) is 100 million and it is a fixed amount which will never be increased or repurchased by Cryptonity.

Also note that Cryptonity will never manipulate it’s tokens such as decreasing the total supply to create deflation as it is against the ethical policy of Cryptonity and regarded as the worst way to gain respect from the community, the traditional market and the regulators. Cryptonity will never involve in practices that give a bad image to a crypto market that surely doesn’t need that. The price of the Cryptonity utility token shall be related to its utility and the token will grant its owners a lifetime discount of 50% on Cryptonity exchange fees. Cryptonity token owners also have the ability to take part in specific features such as the vote for the “Coin of the Month” and get their favourite coin listed among from a list of coins that already applied to be listed on the exchange.

TOKEN ALLOCATION
Cryptonity Token Allocation will be done as follows:

60M for our Public Token Sale (ICO)
20M for the Cryptonity Core Team
10M for our Airdrop & Bounty Programs
7M for insurance purposes
3M for our Advisors.

TOKEN SALE RULES
Cryptonity token sale which will be kicking off with the Phase 1 on the 1st of November,2018 will be done in different cryptocurrencies which are : Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Binance coin. The token sale will be opened for 2months(61 days) and all investors are required to complete their KYC(Know Your Customer) registration within the stipulated time frame to be able to withdraw their tokens.

All investors are to note that since the Cryptonity lead company is located in France thus French laws and regulation will apply to the Crowdsale and only citizens from USA are not eligible to participate in the Crowdsale while citizens from other countries can participate. However tokens will be released 15 working days after Token sale ends.

TOKEN SALE DETAILS
Soft Cap: $500,000 (USD)

Hard Cap $20,120,000 (USD)

Minimum Transaction: 0.05ETH

Public Sale - Phase 1: 10M tokens + 50% bonus = 15M tokens Token Price: $0.23 (USD) Total Sale Phase 1: $2,300,000 (USD)

Public Sale - Phase 2: 20M tokens + 30% bonus = 26M tokens Token Price: $0.34 (USD) Total Sale Phase 2: $6,800,000 (USD)

Public Sale - Phase 3: 19M tokens + 0% bonus = 19M tokens Token Price: $0.58 (USD) Total Sale Phase 3: $11,020,000 (USD)

FUNDS ALLOCATION
60% for Platform and Features Development
20% for Marketing and Promotion Purposes
10% for administrative and legal operations
10% for insurance purposes

CONCLUSION
Cryptonity has proven to be the best exchange platform for traders of cryptocurrency with the assurance of security and transparency and the involvement of community users in the evolvement of the trading platform and i sincerely urge intending investors to make a proper use of the opportunity to participate in the forthcoming Token sale and join the best exchange that gives a sense of belonging to the users of the trading platform.

For more information on Cryptonity in terms of the Cryptonity Exchange Principles and the Cryptonity Exchange Features that makes the best over the existing cryptocurrency exchange platforms and how to participate in the forthcoming token sale kindly visit the following links:

Website: https://tokensale.cryptonity.io/en
Whitepaper: https://tokensale.cryptonity.io/storage/Whitepaper_EN.pdf
ANN Thread: https://bitcointalk.org/index.php?topic=5032641

Author
BitcoinTalk : Eyez_berg
ETH Address: 0x5f369AaED88d779d965dE3f1Ad4712AB7147F0A2