While high market cap coins such as Bitcoin and Ethereum are still dominating the cryptocurrency market, the popularity of altcoins is rapidly increasing, driven in part by the massive trend in tokenization and initial coin offerings.
There are a number of highly popular platforms that facilitate the trade of altcoins in existence today, but a streamlined, comprehensive solution that attacks the initial coin offering market has yet to be established. A new initial coin offering is planning to launch such a solution with the development of Stocks Exchange.
Stocks Exchange is an innovative new multi-currency crypto trading platform with a focus on initial coin offerings and altcoins. At this point in time, Stocks Exchange currently offers a NXT and a BTC market, but as the project proceeds and the user base expands the list of supported coins is expected to increase.
In this article, we’ll take a close look at the Stocks Exchange platform and find out what it plans to offer that will differentiate it from other multi currency trading platforms. We’ll also examine the terms of the upcoming Stocks Exchange initial coin offering and assess the Stocks Exchange white paper to help you determine whether it’s worth participating in.
What Is Stocks Exchange?
Stocks Exchange is the brainchild of Vadym Kurylovych, who intends to create the platform in order to establish a truly global marketplace in which any individual worldwide is able to invest in a diverse range of cryptocurrencies.
The Stocks Exchange platform focuses on the goal of creating a global market in which users are able to invest in speculative ventures regardless of geographic locations. By offering businesses the ability to issue assets or tokens, the Stocks Exchange platform makes it possible to list an initial coin offering in a similar manner to an IPO, generating the capital small businesses need to bootstrap their operations.
The Stocks Exchange platform boasts a robust API that deliver all of the tools and features expected of a world-class exchange, and allows for extremely flexible development that enables the creation of a broad spectrum of different decentralized apps.
The Stocks Exchange engine is enterprise-ready, and delivers scalable software architecture that is suitable for virtually any challenge or trading volume. The Stocks Exchange platform is supported by C.A.T. Cryptocurrency Automatic Trading software, which is the most trusted and advanced trading bot available on the market today.
After establishing an account with Stocks Exchange, it’s possible to begin trading virtually any cryptocurrency asset, or token. This is facilitated by the decentralized nature of NXT/ARDOR and the ETH blockchain networks.
Importantly, the Stocks Exchange platform is secured with strong internal audits, and incorporates a unique hot/cold wallet system. Funds totaling three days of trade volume or withdraw volume is stored in the Stocks Exchange hot wallet, while all other funds are placed in cold storage. With multi factor authentication, users are able to manage both wallets as they see fit.
The Stocks Exchange platform boasts an iOS application in addition to a web interface, and is one of the only exchange platforms to integrate iWatch support at this point in time.
The Stocks Exchange ICO
In order to generate the capital required to launch their platform, the Stocks Exchange team is planning on launching an initial coin offering in which STEX tokens will be available for purchase.
The Stocks Exchange platform itself is currency valued at 100 million NXT, and is running its ICO on the Stocks Exchange platform itself. During the crowdsale, 100 million STEX will be issued, with a value of 2 NXT per unit. A total of 49% of these tokens will be available for public purchase, which amounts to 49,000,000 tokens.
The remaining 51% will be retained by the exchange owners and prior investors. STEX tokens will also provide holders with dividends on a monthly basis, and will also deliver voting rights on the future growth of the platform. At this point in time there is no set date available for the Stocks Exchange ICO launch.
Stocks Exchange Verdict
The Stocks Exchange platform joins the ranks of initial coin offerings that aim to handle ICOs in a similar manner to IPOs, but make them available internationally. Whether or not Stocks Exchange will stand out from the crowd remains to be seen, but the fact that the platform has an operational iOS app and iWatch app is promising indeed.