HiBTC: A New Exchange Just hit the Blockchain
If you’re an ardent follower of digital assets, you must have heard of Bitcoin. Bitcoin was literal John; fore-runner to other currencies that soon came on board the blockchain. It is common knowledge that these currencies didn’t make good its quest to become global payments. Since they were restricted to the digital space, there was need to create a transaction channel. This need created centralized exchanges. The former was later replaced by decentralized exchanges.
Current exchanges on board are not favorable trade-wise. First, excess charges are placed on transactions. Coupled by low throughput experienced during transactions, such charges seem uncalled for. To this end, HiBTC was developed as perfect solution to exchange downsides.
Empowering Users in Decision-Making
Trading on current exchanges might seem favorable for some but greater majority of traders are fed up with centralized control exhibited there. Hence, HiBTC is offering users that want to trade here free-hand to take pertinent decisions.
It would be good idea lending your voice when trading goes south. More so, you can take part in elections and recommending currencies. For the latter, the exchanges on ground seem slow in integrating viable currencies. However, if you feel a currency is worth trading and has future prospects, all you have to do is recommend it to HiBTC and if found viable, it gets integrated.
Before jumping at these prospects, it is pertinent to note the underlined feature. HiBTC’s governance is restricted to token holders. This literally means that mere users are not availed decision-making except they acquire as little as 5% HIBT token.
Relating Passive Income to HiBTC’s Open Platform
Mention had been made of centralized control of current exchanges – a situation HiBTC curtails using community model. Through this approach, users are availed cross-participation. Hence, there won’t be centralized hold but a platform where each user has equal right as the other.
In related development, the platform has other things in stock. With positive results emanating from loyalty programs, users’ mindsets have been psyched and incentives have being discovered willing tool to penetrate consumers; mind.
Buoyed by this, HiBTC created a Shared Holder Fund Account. First, the account will be central purse for all rewards tended for users and also means of rewarding active users. For its functionality, the platform takes account of users that traded on the platform and at the end of trades; it proceeds to collation of funds.
First, the processing fee each trader paid is checked followed by the value of tokens available in his account. The essence of this is to determine the worth of a trader’s investment and reward accordingly.
Security
Security of assets had been one of the problems that scare off investors. In bid to have firm hold of users’ interest in the platform, HiBTC had forged partnerships with top security agencies. The latter had examined codes to be used by the platform. On its part, HiBTC is using multi-layer firewalls in addition to multiple signatures. On the other hand, cold wallet was used in placing greater majority of users’ assets in high protection.
The FomoHIBT Pool
One might wonder how HiBTC tends to scale herculean task of rewarding all users without hitches. To this end, the FomoHIBT Pool was set-up. Designed as prize pool, it will be responsible for even distribution of benefits with its users.
The pool was designed to boom at same proportion with the exchange’s trading profit. Those to be considered as beneficiaries are basically positive contributors. These contributors are those whose trade profited greatly within the day interval of such trades.
The prize pool will be allowed to accumulate and every profit deposited in the Holder Shared Fund Account will be turned in. The pool will get released whenever the HIBT token had clocked specified rate. As soon as this happens, the dividends that had been accumulated in the prize pool will be evenly distributed among positive contributors for each day.
Distribution of Tokens
Incentives: 50%
Team: 25%
Holder Shared Fund: 18%
Investors: 5%
Marketing: 2%
Conclusion
HiBTC is much more than an exchange because its scope covers governance and other gray areas in trading. Coupled with its reward mechanism, the platform is bound to set new records in cryptographic exchanges.
Learn more about the project by following the links below:
Exchange Link: https://www.hibtc.com
Whitepaper: https://www.hibtc.com/om/about/en-us/whitepaper.pdf
Telegram: https://t.me/www_HiBTC_com1
Twitter: https://twitter.com/HiBTC_Exchange
Author's Information
Bitcointalk Username: PLMovs
Bitcointalk Profile URL: https://bitcointalk.org/index.php?action=profile;u=2035939
Email: [email protected]