Introducing Metro - a decentralized cross-chain cryptocurrency exchange

Hi Steemit community! We're excited to introduce you our new blockchain project - Metro Decentralized Exchange. Metro is a blockchain-based decentralized autonomous corporation (DAC) providing cross-chain cryptocurrency exchange service to clients and cryptocurrency income for stakeholders.

What are our goals?

Our project aims to:

• Provide a public blockchain based on popular Nxt technology and codebase, whereas improving the initial token distribution by mining.
• Make built-in NXT assets (colored coins) exchange functional by providing trustless deposit/withdrawal from other blockchains.
• Provide a near real-time trading user experience thanks to hybrid POW/POS blockchain.
• Give to the community a tool for obtaining income in a variety of coins, for instance Etherum Classic and others.

What makes us different from other cryptoexchanges?

Existing Decentralized Exchanges (DEXs) create collateral obligations (IOU) and keep a record of their trades in a blockchain. This approach has a serious drawback. IOU issued by different agents represent different entities and the single market breaks up into many markets with low liquidity. Each market is limited by agent's asset.

Metro doesn't have this drawback. Users can make deposit exactly the same way as they do it on a centralized exchange. The difference is that all deposits are held by smart contracts, not third party. All deposits and withdrawals are processed by Metro blockchain consensus. This approach allows to avoid market breakups and increase liquidity. Also, the decentralized nature of the depository excludes the possibility of pressure on the exchange by regulators.

As a result, users get a fully decentralized real-time cross-chain exchange without any involvement of third party.

How will the coins be distributed?

Only 1,000,000,000 Metro tokens will be issued, with 200,000,000 tokens created on start in June 2018 and locked.

• 100,000,000 initially created tokens (10% of total supply) will get the developers.
• Another 100,000,000 will be distributed to the Nxt community through an airdrop.
• The remaining 80% are left for miners.

Each mined block will unlock 1,000 metro tokens and also it will bring a reward with block subsidy starting at 2,000 MTR until the first halving.

When does the airdrop and mining start?

Airdrop for NXT holders is going to be in the end of June. For every 10 NXT in your wallet you receive 1 MTR with the same passphrase on Metro blockchain. Snapshot block number is 1894000.

Mainnet launch is planned on the first week of July, after the airdrop. We're going to prepare ccminer and sgminer for our algo. Wallet and miners will be released on GitHub in the middle of June.

For more information visit our website or BitcoinTalk topic and, If you'd like to stay tuned, please follow our Steemit blog or connect with us through our Twitter or Discord (links below).

We'll be happy to answer your questions or read your feedback in comments!

Connect with us:

Website: http://metrodex.org/
Whitepaper: http://metrodex.org/whitepaper.pdf
BitcoinTalk topic: https://bitcointalk.org/index.php?topic=4211306
Twitter: https://twitter.com/metro_software
Discord: https://discord.gg/Unm5pdY