cloverDEX - modular hybrid decentralised exchange
INTRODUCTION
Mainstream adoption of cryptocurrency is hindered due to high barriers of entry to purchase because of complexity in purchasing, selling, spending, and storing of these assets. Cloverdex aims to alleviate these barriers by introducing an advanced cryptocurrency exchange that focuses on user-friendliness (by implementing a 3-step ethos, whereby any action by the user should only take at most 3-steps) and cryptocurrency education. We strongly believe investors in cryptocurrency should be fully informed when making buy/sell decisions, and as such, our platform will incorporate real-time supplementary market data (and analysis) and links to relevant news for each available cryptocurrency for trade
An intuitive user experience will be central to our 3-step ethos allowing quick registration, buying, selling, research, spending, and storing crypto assets all within 3 steps. By ensuring the users’ needs is the top priority and focus for the exchange we are then able to tailor the experience towards beginners and expert traders like no other cryptocurrency exchange before us.
We firmly believe that mainstream adoption of cryptocurrency and the long-term sustainability of the crypto ecosystem hinges on the ability for users to not only easily invest and trade assets, but also make use of these assets on a day-to-day basis. By offering large number of fiat pairs (AUD, USD, and more) this will allow seamless integration of cryptocurrencies and traditional financial markets whilst opening up doorways to more customers and liquidity. To improve cryptocurrency use in day-to-day life, Cloverdex will be offering all users access to an EFTPOS debit card that we plan to integrate with a number of mobile wallet applications such as Apple Pay and Google Pay. As such, users will be able to access crypto funds readily and make everyday purchases online and at millions of EFTPOS terminals around the world.
In order to fund this project, Cloverdex will create an Ethereum based cryptographic token (CLDX) which will allow holders to gain premium services/features such as discounted trading fees, access to advanced market analysis tools, early Beta access to the platform, increased trading limits, and more (to be announced).
We understand that the cryptosphere is still in its infancy with much political risk in the form of regulations and laws. The privacy of our users is of utmost important, and often we understand that the need for regulation is in conflict with the needs of user privacy. Having said this, we believe that for the cryptocurrency market to be fully ubiquitous there is certainly a need to work with Governments and the law. To deal with this, Cloverdex will ensure the product and services on offer are fully compliant with all regulatory and legal requirements by working closely with our lawyers and financial regulatory bodies in Australia such as the Australian Securities and Investments Commission (ASIC).
Cloverdex and its core team are based in Canberra and Melbourne, Australia. We consist of five core members and two advisors. Our experience is diverse and spans areas of Financial Frameworks, regulatory and corporate governance, software development and engineering, financial technology, economic modelling, blockchain and smart contract development, marketing and sales, cyber security and website design.
The next sections will discuss in detail the seven challenges, Cloverdex core product offering and how we address each of the challenges, our business model, project roadmap, ICO details, and breakdown of the team.
WHAT IS CLOVERDEX?
Cloverdex is a platform that consists three products:
> Modular hybrid decentralised exchange;
> Secure multi-currency wallet; and
> EFTPOS debit card – every day purchases using cryptocurrency seamlessly
OUR PLATFORM
We aim to tackle seven challenges facing current cryptocurrency exchanges:
1. Usability – current exchanges involve too many steps and are tailored for advance users or assumes that the user has pre-existing knowledge
2. Security – cryptocurrency exchanges have been susceptible to hacking and internal fraud because of lack in security focus and funding.
3. Liquidity – having not enough people trading on an exchange results in greater difficulty to trade, higher asset costs for investors, and difficulty in withdrawing funds in fiat.
4. Transparency – Hidden trading fees and commission charged results in higher investor cost and lack of trust.
5. Compliance – customers are hesitant to enter the cryptocurrency market due to perceived uncertainty in regulations and laws.
6. Education – most exchanges cater to advance traders and lack proper education and easy to use tools for beginner investors.
7. Accessibility of funds – current solutions to bridge traditional payment infrastructure and blockchain based assets are not seamless and involves high transaction fees either through upfront fees or currency conversion rates, both of which form a disincentive for use.
MODULAR HYBRID DECENTRALISED EXCHANGE
Incorporating the speed and liquidity of centralised exchanges with the security afforded in a decentralised exchange where the user owns their private keys.
The Cloverdex trading platform will cater to both beginner and advance users through our 3-step ethos. This means that all actions (e.g. registration, trading) can be completed within 3 steps.
In addition, Cloverdex exchange will offer the following:
> Multiple Fiat pairings – up to 10 different fiat pairings initially with more to come.
> Support over 100+ cryptocurrencies and tokens.
> Transparency – no hidden fees.
> Security – 2 Factor Authentication and Multisig implementation. Periodic external security audit by a reputable firm.
> Liquidity – maximise liquidity and best available prices by tapping into external exchange pools.
SECURE MULTI-CURRENCY WALLET
Full control and ownership of your crypto assets.
> Simplified crypto asset management and transacting.
> Store a multitude of cryptocurrencies/tokens.
> Manage Debit Card settings.
> Private key ownership.
> Strong security focus – 2FA and multisig
EFTPOS DEBIT CARD - HIGHLY ACCESSIBLY USE OF CRYPTOCURRENCY
Instantaneous and seamless use of cryptocurrency for every-day purchases.
> Usable at millions of EFTPOS terminals around the world.
> Planned future integration with Google Pay and Apple Pay.
> Convert crypto assets to fiat currency at point of purchase.
> Full control of debit card – transaction limits and weekly/monthly spend limits.
BENEFITS OF CLOVERDEX TOKENS HOLDERS
DISTRIBUTION OF TOKENS
Eighty percent of all tokens will be allocated to the community (20% presale and 60% crowdsale). The remaining 20% will be allocated to the core team vested over a 3-year period.
The presale allocation was strategically modelled to ensure fairness for all contributors so that no one single party would hold a significant portion of tokens before the public crowdsale.
> 60% Distributed to Community (crowdsale)
> 20% Distributed to Community (Pre-sale)
> 20% Founders and Team
FUNDS USAGE
Funds raised during the ICO will be for the following purposes:
* Exchange platform reserves (40%): these funds will serve as trading reserves to provide
the necessary initial liquidity.
* Development (20%): development of the trading platform, secure multi-currency wallet, and EFTPOS debit card functionality. Funding for security is bundled into the development cost.
* Marketing (20%): Funding will be for advertising, media content creation, community building and engagement, promotions and prizes, and website design.
* Operations (10%): Day to day operations of the platform and corporate expenses.
* Legal (10%): regulatory and legal compliance.
> 40% Exchange platform reserves
> 20% Development
> 10% Operations
> 10% Legal
> 20% Marketing
ROADMAP
August2018
• Whitepaper • Development of alpha prototype • Development of promotional material (video, website) • Community engagement and building
December2018
Pre-sale • Pre-sale will start mid December 2018. • Start Selection and negotiations with payment processor • Intensify Marketing initiative
January2019
Technical talent procurement • Technical talent and development team formed. • Intensify Marketing initiative
February/March2019
Public crowdsale • Public crowdsale commence • Audit of crowdsale results.
Q1 2019
Beta exchange and wallet launch • Closed Beta launch early in the year. • We plan to be listed on at least two major token exchanges early in the year. • Public Beta launch with external exchange trading support and support for more fiat pairs March/April 2019. • First major security audit by external service provider.
Q2 2019
Full release • Full public release of Cloverdex exchange and secure multi-currency wallet – includes up to 10 fiat pairs. • Debit Card support added and shipped to customers.
Q3 2019
Major enhancement release and internal testing of hybrid decentralised exchange module • Increase number of fiat pairs based on customer demand. • Support for over 100+ cryptocurrencies and tokens. We will be conducting a vetting process so to ensure only quality cryptocurrencies/tokens are available on the trading platform. • Internal testing of hybrid decentralised exchange module.
Q4 2019
Hybrid Decentralised Exchange migration • Seamless migration of trading platform to a hybrid decentralised model.
OUR MOTIVATED TEAM
OUR ADVISORY BOARD
More information can see the link below:
Username : Bitcoinissatan
Bitcointalk : https://bitcointalk.org/index.php?action=profile;u=905011
ETH address :
0x9D7C69Ba1C7C72326186127f48AF6D61Ff95496D
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