IX Launches New Exchange with BTC Platform Token
The cryptocurrency exchange industry has quickly grown from a fringe sector trading Bitcoin against fiat to a massive global industry with hundreds of altcoins to boost interest and market capitalization. And as the industry grew, competition has become fierce. Exchanges like Binance gained notoriety in their corner of the industry by integrating a unique Binance Token to try to incentivize trading on their platform with discounts on trade fees using their coin.
But one exchange has announced its intention to integrate the relatively stable Bitcoin as its platform token, allowing users to capitalize on gains relative to the amount of Bitcoin they likely already hold. IX platform turned heads when they invested a whopping USD $10 million to get the unique domain name IX.com. With an opening investment like that, many in the crypto space have been carefully watching to see what the potential exchange might have in store for their future users.
Just yesterday, speculators were given one of the first hints at what the oddly-named IX Exchange has to offer. The company released an announcement that they intend to launch their exchange, and that they will be using Bitcoin as its key platform token.
According to the company, the team behind the founding of IX is made up of an interesting set of specialists from a variety of backgrounds. Having come from prestigious schools like Columbia University, Yale University, the Swiss Federal Institute of Technology in Zurich, and Peking University, the team boasts an impressive educational resume.
Additionally, the team is peppered with industry leaders with business experience as executives from major companies including Facebook, Bitmex, BitFlyer, Ford, LinkedIn, and FCoin. With a team like this, it should not be surprising that the company was able to secure the massive capital required to simply gain access to their interesting two-letter domain name.
Impressive Technical Specs
So far, the information released by the team is the cause for significant optimism among members of the cryptocurrency community. To start, they boast potential 100% cold wallet protection, high performance matchmaking through their unique high-powered engine, as well as what they call “extensive trading depth” that could allow them to access unmatched volume and depth for transactions on their growing network.
Unique Operational Characteristics
The company has already come forward with information regarding their operational rules, a hopeful sign for the crypto participants interested in a clear institutionally regulated framework for operation. In particular, the exchange plans to implement 20 second rules for trading, discounts for transaction fees paid for using the platform token (BTC), as well as a very favorable commission system for referrals of friends.
As the exchange continues on its path to a hopeful release later this year, many eyes remain on the exciting IX Exchange project. One of the only platforms currently on the market offering Bitcoin as a Platform Token, IX has the potential to cater to a significant user-base who might already have the coin to use and mitigate transaction fees.