XCrypt, a full-fledged hybrid crypto exchange platform, is gearing up for its highly anticipated token sale on the 24th of May. The platform is aspiring to be at the forefront of the fintech revolution by combining the traditional world of finance with the vast array of innovations made possible by blockchain technology.
The XCrypt platform is currently in its launch phase, which is good news for investors as the native token that powers the exchange ecosystem can still be purchased. For the token sale, the XCrypt team decided to take the Initial Exchange Offering route in collaboration with IDAX. With the platform’s support for cryptocurrencies, fiat currencies and securities and its impressive list of strategic partnerships, an integrated debit card and innovative social media trading features, the XCrypt IEO is a token sale to get excited about.
The XCrypt platform is establishing an end-to-end crypto-asset exchange ecosystem catering to every need of the crypto investor. Given that the exchange industry is highly competitive, any new exchange entering this space has to include features that make it stick out from competition, and XCrypt does just that.
For starters, users of XCrypt enjoy 0% transaction fees for using the platform. The multi-language exchange is developed to operate on any device and has a highly intuitive interface.
Additionally, the platform has ensured legal compliance that goes a few steps further than the majority of existing exchanges and allows for the listing of a large variety of tokens, including securities, security token offerings (STOs) and ERC-20 and ERC-721 tokens. The STO marketplace is scheduled to be released during the fourth quarter of 2019 and XCrypt will also support a decentralized marketplace for crypto assets, which can be either based on the Ethereum blockchain or other blockchains that allow for assets to be built on top of it.
You can check out a demo of the MVP of the XCrypto exchange platform right here.
Security and compliance
The XCrypt ecosystem is also geared to support both the traditional and digital financial systems by enabling both fiat and crypto transactions, while being fully regulatory compliant. The platform has obtained an official license to support fiat-crypto and vice versa exchanges and to provide virtual currency wallet services, through Estonia services. Due to this license, users of the platform can be assured of both the legal compliance and security of their new cryptocurrency exchange.
Unfortunately, the existing cryptocurrency exchange industry is still haunted by security threats, with exchange hacks occurring on a near-weekly basis. In order to ensure that the XCrypt platform doesn’t run into these problems, it has adopted the highest security standards, which includes the CryptoCurrency Security Standard (CCSS) and multiple strategic partnerships.
To aid in the security of the exchange platform, XCrypt has partnered up with Stratus Cyber, a company specializing in cybersecurity solution for blockchain projects, and is in the finalizing stages of closing partnerships with Threely Wallet, an innovative solution aiming to simplify cryptocurrency wallets and addresses, Ledger Vault, an established crypto-custody solution for the safekeeping of assets and Legacy Trust, an organization specialized in providing safekeeping, asset servicing and custodial services.
The XCrypt ecosystem will also include a debit card, both physical and virtual, that allows for storing and spending the most popular cryptocurrencies. This service is powered by the project’s deal with WirexApp, a company providing cryptocurrency payment solutions through their Wirex Visa card. XCrypt is also aiming to establish a future partnership with WirexApp to expand the debit card utility.
Additionally, XCrypt also introduces the innovative concept of Social Media Trading, which is an advanced investment solution that enables seasoned traders and investors to set up and manage joint funds in which other investors can buy into. SMT has rapidly been gaining popularity in recent years as it allows for elaborate tools for information and skill sharing, allowing more novice investors to select traders of their choosing and profit from the experience of these professionals. For more information on the Social Media Trading feature and the platform as a whole, check out the whitepaper.
IEO on IDAX
As for now, the XCrypt token sale is still in its private stage, however, once the private sale ends on the 24th of May, the token will be publicly for sale in the XCrypt Initial Exchange Offering (IEO) on IDAX. During the first phase of the IEO on IDAX, investors will receive a 20% bonus on their token purchase. XCT tokens for sale in the IEO can be bought with Ethereum.
In total, there will be 200 million XCT tokens, of which 120 million (60%) are sold during the token sale. The XCT tokens are the lifeblood of the XCrypt ecosystem and have a myriad of utilities on the platform, including membership payments, participation in XCrypt-based ICOs, payment for debit card fees, payment for the fees of both the centralized and decentralized exchange and eligibility for the airdrop ranking system. The latter is a unique system that lets ICOs that partner with XCrypt airdrop their tokens to the exchange’s users to spread awareness and solicit investors from the community. Details can be found here. At present, XCrypt has already closed multiple listing agreements with projects to list their tokens on the exchange platform, and as a part of the deal these project will participate in airdropping their tokens to the XCrypt community through the airdrop ranking system!
Once the IEO is finalized, the XCrypt project has also secured multiple XCT token listings for on the following exchange platforms;
- More to come
An IEO to look forward to
Initial Exchange Offering are a brand new concept and XCrypt is leveraging this opportunity to get the most out of its exciting token offering on the 24th of may. The strategically sound partnerships ensure that the XCrypt exchange platform is on top of its game in the different challenges it faces, such as compliance, security and liquidity. The team has ensured that at every stage of the coming months, the platform is prepared and future-proof, with its XCT having already closed multiple post-token sale listing and over a dozen ICO projects preparing to launch on XCrypt. Add to that the 0% transaction fees on the platform, a variety of valuable utilities for the XCT token, a crypto-debit card and Social Media Trading functionalities, and it becomes clear why this IEO is one to look forward to.