Alt Planet is an exchange “where the user becomes the owner.” Find out what that means today in our review.
What Is Alt Planet?
Alt Planet, found online at AltPlanet.io, is a cryptocurrency exchange that plans to offer a greater range of service to investors.
A pre-sale for Alt Planet’s tokens (APL) is underway until the end of July 2018, with a main crowdsale taking place until the end of August.
Alt Planet has launched with the tagline “where the user becomes the owner.” What exactly does that mean? How does Alt Planet plan to differentiate itself from the hundreds of other major crypto exchanges available online today? Let’s take a closer look at how Alt Planet works.
How Alt Planet Cryptocurrency Trading Exchange Service Work
Alt Planet plans to offer the following core services:
Alt Planet is a cryptocurrency exchange. The goal is to provide a simple interface that makes it easy for users to trade. Users can access a wide variety of markets for various coins. “We provide an optimal trading system tailored to the user’s eye level,” explains the Alt Planet website in a confusing way.
Specific coins available through the Alt Planet platform will include BTC, ETH, NEO, QTUM, USDT, APL, and others. Alt Planet will also sell smaller tokens like EOS, TRON, VeChain, OmiseGO, ICON, Red Pulse, Trinity Network, QLINK, MediBloc, Ink, Qboo, and more.
Exchange Lease Business Model
This is where Alt Planet plans to differentiate itself from the competition. Alt Planet will have an exchange lease business model that gives users a way to monetize their exchange activity. Users can participate in this lease business model by participating in the monthly rental bidding process. “The lease business model will provide investors with a profit opportunity that they have not experienced before,” explains the official website.
It’s not totally clear how this lease business model works, and Alt Planet doesn’t do a great job of explaining it.
However, it appears that the Alt Planet exchange is available for anyone to “rent”. You can bid on the exchange each month. The winning bidder will receive all transaction fees generated by the platform for that month. In other words, you basically own the exchange for the month in which you’re leasing it.
The lease rate is set at 50% to 70% of the previous month’s commission fee income each month. However, the bidding process can push this price higher.
Alt Planet Features
Other Alt Planet features include all of the following:
Alt Planet will be accessible through a mobile app, helping users trade cryptocurrencies at any time from anywhere.
Support For ICO Token Purchases:
Participating in an ICO typically requires complex authentication procedures and careful copying and pasting of a wallet address. Alt Planet will reduce these risks, allowing users to participate in ICOs more conveniently.
Progressive Coin Burnout:
After an ICO on the Alt Planet platform is complete, unsold tokens will be burned. To increase the value of APL, Alt Planet plans to purchase and burn off APL tokens every quarter when the market share of Alt Planet reaches 5%. The ultimate goal is to reduce the total supply of APL by 30%.
Discounted Transaction Fees:
Alt Planet claims its exchange will offer 0.1% cheaper transaction fees, on average, than its competitors. Users who hold APL tokens can get extra discounts.
Earn Staking Rewards Through Alt Planet: Alt Planet allows users to earn staking rewards when they hold PoS-based cryptocurrencies on their Alt Planet account. If you hold QTUM or NEO in your Alt Planet account, for example, then you’re entitled to receive the profits generated by those PoS cryptocurrencies.
Alt Planet APL Token ICO Details
The Alt Planet ICO begins with a pre-sale from June 25 to July 22. You can purchase Alt Planet tokens (APL) with a 20% bonus during this period. 1 ETH will buy 960,000 APL tokens, with a minimum purchase amount of 10 ETH. 14 billion APL tokens are available during the pre-sale.
The main crowdsale, meanwhile, is scheduled to take place from July 23 to August 19, 2018. There’s a 0% bonus during the crowdsale. You’ll pay 1 ETH for 800,000 APL tokens with a minimum purchase of 1 ETH. A total of 20 billion APL tokens are available during the crowdsale.
Of the total supply of tokens, 50% are allocated for sale during the pre-sale and ICO. The remaining tokens are reserved for marketing and promotions (30%), a company reserve fund (10%), and the team (10%).
Of the funds raised during the Alt Planet token sale, 50% will go towards platform development, 25% towards an operational fund, 20% towards marketing expenses, and 5% towards legal costs.
There’s a total supply of 68 billion APL tokens, with 50% (34 billion) available during the pre-sale and ICO.
Who’s Behind Alt Planet?
Alt Planet is led by CEO and co-founder Kwangsoo Bae. Prior to launching Alt Planet, Bae had established a corporation called Doon Planning Co. Ltd., which he grew into “the best performing planning and advertising marketing company in the industry.” He’s also been active in the crypto space in South Korea, including launching the ICO-KOREA website and providing ICO information to Korean investors. Bae himself has also led multiple ICOs.
Other listed members of the Alt Planet team include Kunhui Lee (CTO and Lead Developer), who was previously involved in security-related work at the Military Security Research Institute, and Song Rhee (COO), a programmer and engineer.
Alt Planet Conclusion
Alt Planet is a cryptocurrency exchange preparing to launch with a unique concept. Unlike a traditional exchange, Alt Planet will allow users to “lease” or rent the exchange on a monthly basis. Each month, the exchange will go up for bidding. Users are free to bid on Alt Planet. The winning bidder will own the exchange for one full month and will be entitled to receive 100% of transaction fees collected by the exchange.
Overall, there’s limited information about Alt Planet available online. The ICO is underway from July to August, 2018. However, it’s unclear when the exchange will be ready to launch, or why users will use Alt Planet instead of other major exchanges available today.
In any case, you can learn more about Alt Planet by visiting online today at AltPlanet.io.