The founding team was an early adopter of the EOS platform, having already worked on a number of successful EOS-based projects. Thus, the team was able to clearly see early on the strong potential of the EOS platform and of the EOS community and moved to establish the EOSex.com website to begin building a platform that could capitalize on the coming explosive wave in digital asset trading on the EOS platform. Our top-notch team uses advanced modeling technology to create a high quality, a high-performance trading platform for our users. The product development team is committed to creating a user-centric platform that creates a sense of loyalty from the first time it is used.
Since 2017, we have seen trading volumes in cryptocurrency tokens rising to dizzying heights. Blockchain projects, internet projects, and even traditional businesses have capitalized on this interest to fund their projects by issuing tokens on the Ethereum protocol using ERC20 tokens, which are then traded on primary and secondary markets, giving traditional financial markets a run for their money. We have also seen the creation of other new blockchains, which not only allow for even more tokens to be created but which, together, form the ever-expanding infrastructure of the burgeoning blockchain industry. With each new project entering the arena we see more progress towards increased decentralization, openness, transparency, security, and performance, though we have yet to see any blockchain that has achieved perfection on all fronts. Having said that, we can see a clear direction emerging with the technology progressing from proof of work (POW), and onto proof of stake (POS), with the latter much better in terms of functionality and expandability, and now onto a consensus algorithm under EOS, known as Delegated Proof of Stake under EOS, which offers a commercial-grade operating system with extraordinarily high transaction speeds and highly scalable smart contracts. Going forward, we expect to see explosive growth in the number of high qualities dApps and public chains developed on the EOS platform.
EOSex is building a global one-stop trading platform for quality assets. We intend to provide a safe, fair, and transparent digital asset trading platform for the blockchain industry. We are creating an ecosystem built on a distributed governance system that not only allows for the trading of cryptocurrencies but the trading of tokenized financial derivative products, making for a complete digital trading platform that can access the world.
EOSex plans to offer digital asset spot trading, CFD trading, and on-chain trading. EOSex will issue exchange tokens, called EXP (EOSex Proof). Once EXP tokens have been issued, EOSex will no longer be an independent blockchain entity, but rather a distributed company controlled by its community, by EXP token holders, and by the EOSex foundation. All EXP token holders will share in the profits generated from EOSex. Thus, EOSex will become a community-based platform that will work together across all of its members and partners to create a global one-stop platform for quality digital assets.
Listing Process for EOS-Platform Tokens:
We intend to list high-quality EOS-platform tokens with new tokens listed in cycles of 15 days. The top-5 tokens that have the highest proportion of tokens deposited with EOSex relative to the total number of tokens in circulation, will receive automatic listing on EOSex.
Listing Process for other Tokens:
New listings will be chosen from a coting process that is different from other exchanges. EXP token holders will be given voting rights based on the number of tokens held and the number of days held, and the EXP tokens will not be destroyed during the voting process. For each voting period, the top-3 projects will automatically qualify for listing.
Voting Power = Number of EXP Tokens held x Number of Days Held
Support for Trading of Financial Products:
Naturally, EOSex supports spot trading in cryptocurrencies. However, once the platform achieves a certain level of volume, stability, and security, we will begin introducing new financial products for trading in underlying based on equities, forex, commodities, etc. Thus, we will become a global exchange for a full range of trading products. Naturally, this will generate ever-larger revenues for EOSex, which, as always, is 100% distributed back to EOSex token holders (EXP).
Total number of tokens available for mining is 3 billion. Once all such tokens have been distributed, the mining program will end. “Mining” describes the process whereby 100% of trading fees are rebated back to the user in the form of EXP tokens. The value of EXP to be distributed each day will be based on the price at 6:00pm Hong Kong Time, and will then be immediately distributed.
Calculation of Profit Distribution for EXP token holders:
Total income for the day x EXP tokens relative to the total number in circulation
Daily Profit-shareing Cutoff Time:
Each day, at 8:00pm Hong Kong Time, the total value of all commissions received for the previous 24 hours will be calculated and then corresponding value of EXP tokens will distributed to all EXP token holders. Any EXP token holder who has not logged in within the last 24 hours, automatically forfeits their distribution for that day.
Profit Distributions to the EXP Tokens held by the EOSex team are used to buy back EXP tokens from the market after which those EXP tokens are permanently taken out of circulation by being sent to a dead address. Such buybacks will cease once the total circulation of EXP tokens shrinks to 5 billion. EOSex maintain a separate web page where up-to-date figures will be published for total number of EXP tokens in circulation, mining volumes, number of tokens bought back, number of tokens destroyed.
Commissions received from trades among EXP group trading pairs will be automatically be taken out of circulation by being sent to a dead address. In future, the EXP community makes decisions on commission rates for EXP group trading pairs.