JOYSO HEX ICO Review

JOYSO is a hybrid decentralized exchange, or HEX, that aims to combine the benefits of a centralized exchange and a decentralized exchange together. Here’s our review.

What is JOYSO.io?

JOYSO.io is a centralized exchange and a decentralized exchange rolled into one. The exchange aims to solve the problems inherent to both types of exchanges.

As the JOYSO website explains, “the future is hybrid.” They’ve centralized their platform for speed, but decentralized it for security. Users don’t have to trust a central exchange with their private key or personal information, but they can still access centralized order management and centralized speeds.

JOYSO expects to launch a beta version of its platform in June 2018.

How Does JOYSO Work?

Here’s the basic process by which JOYSO works:

Step 1: Users sign a buy or sell order to JOYSO

Step 2: Orders are matched by the centralized engine

Step 3: Matched orders are sequenced

Step 4: A smart contract is executed with the user’s signature

Step 5: The transaction is confirmed on the blockchain

The company will generate profits from trading fees. Trading fees will be set at around 0.1% for order makers and 0.2% for order takers.

JOYSO plans to attract users by offering a 50% discount on trading fees when using JOY tokens. JOYSO will generate transactions and advertising by offering free and frictionless listings to ICOs.

Advertising on JOYSO through the JoySelect program will also be competitive, with a 50% discount for ICOs paying with JOY.

JOYSO Feature and Benefits

JOYSO emphasizes all of the following features and benefits:

  • All orders are limit orders, giving the best possible price
  • Smart matching is off-chain in order to facilitate fast processing and one-to-many matches
  • Smart matching eliminates a number of security issues
  • Gas fees are lower than fully decentralized exchanges
  • The exchange can’t alter the balance in a user’s account
  • Users deposit directly to the smart contract prior to completing the trade; they’re not required to deposit to a centralized wallet or exchange fund
  • Users can cancel transactions up until they’re matched
  • Completed trades are published on the blockchain in a transparent and traceable way

Ultimately, JOYSO aims to combine the features of a centralized exchange – like fast order matching – with the benefits of a decentralized exchange – like personal fund security and freedom.

How Do JOY Tokens Work?

JOY tokens are utility tokens designed to facilitate trading, voting, and participation in the ICO. JOYSO will offer a 50% discount on transaction fees (not including gas) when using JOY.

New ICOs can list for free on JOYSO, earning a 50% discount on advertising fees through the JoySelect program.

In the future, JOYSO plans to launch decentralized margin trading. When this feature launches, JOY users will be able to trade with lower collateral compared to ETH.

The JOY Token Sale

JOY tokens are ERC20 tokens on the Ethereum blockchain. The tokens are priced at a rate of 1 ETH = 10,000 JOY.

There’s a total supply of 200 million JOY tokens. 50% of tokens (100 million) will be distributed during the ICO. The remaining tokens are distributed for private placement (25%) and reserved for the JOYSO team (25%).

The ICO is scheduled for March 1 to March 21, 2018.

Funds collected during the ICO will be allocated to product development (35%), marketing (20%), operations (15%), legal compliance (10%), security bounties (10%), and team rewards (10%).

Who’s Behind JOYSO HEX?

JOYSO’s team came together in September 2017. Key members of the team include Tom Soong, CEO. Tom supervised development of the world’s first 28nm bitcoin mining chip. In 2014, he founded AlcheMiner and brought to market a 40nm Litecoin mining chip that was used for 20% of Litecoin’s mining power. He’s also the blockchain advisor to ITRI, one of the world’s leading technology research and development institutions, and the administrator of the Bitcoin Chinese Community and the Taipei Ethereum Meetup group.

Other key members of the team include Taka Kao (COO), the former Technical Manager of Industrial Technology Research Institute and Will Hsieh (CTO), a PhD candidate in Computer Science at National Taiwan University.

The company is formed under the name Consensus Innovation, Ltd.

JOYSO HEX ICO Conclusion

JOYSO aims to disrupt today’s cryptocurrency exchange industry by creating a hybrid decentralized/centralized exchange. The company aims to offer the benefits of a decentralized exchange – like personal security over your own funds – and the features of a centralized exchange – like high speed and fast order matching.

The beta for JOYSO is scheduled to launch in June 2018. The token sale for JOY tokens, which provide a 50% discount on the platform, begins on March 1, 2018.

To learn more abut JOYSO and their upcoming ICO, visit online today at JOYSO.io.

TOP GUIDE ON HOW TO BUY BITCOIN TODAY

Enter Your Email To Receive Weekly Cryptocurrency Coin Reviews, News & Investing Insights

I will never give away, trade or sell your email address. You can unsubscribe at any time.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

seven + 19 =