LeverJ, The First Decentralized Cryptocurrency Futures Exchange

According to the founder and CEO of LeverJ Bharath Rao, “the perfect exchange is secure but frictionless, transparent yet private, decentralized but always high performance."

LeverJ, pronounced the same as the word leverage, began as an exchange for privacy advocates. It quickly gained a loyal following of experienced traders and formed CoinPit. And it now does millions of dollars in cryptocurrency trading.

The same team is building LeverJ.

LeverJ is targeting the largest trading market in the world, derivatives, worth an estimated 1.2 quadrillion dollars.

The problem with the current system is that it needs a lot of time consuming and expensive regulation to make it all work together. LeverJ believes with cryptography and game theory you can eliminate the need for many types of regulation.

LeverJ is built on the Ethereum platform and its primary token will be the LEV token. It will be of a fixed supply and act as a license to transact on the platform. A secondary token called FEE will be the accounting mechanism of the platform. Owners of LEV can earn FEE, but only if they lock up their tokens for a pre-determined time. You can read more about the two tokens from CEO Bharath Rao here.

The token sale is supposed to start some time in September. Unfortunately I can’t find an exact date. But you can find the terms and conditions here.

The platform will feature decentralized identity, hardware wallet support, on-chain settlement, automated trade management, and enhanced reporting.

Also, being a decentralized exchange your funds are never held by LeverJ. So you never have to worry about withdrawing funds when you need them.

Down the road the enhanced trading platform will add features such as subscriptions to other traders, trade replay videos, and historical data replay. For even more detail check out the white paper.

Also worth noting is that LeverJ just added ConsenSys as a technical advistor. ConsenSys is led by Joseph Lubin and is a big proponent of Ethereum.

---

For more on cryptos follow me @g-dubs and on SteemFollower