Damian Merlak – the founder of Bitstamp – has been hard at work creating a new crypto exchange called Tokens. It differentiates itself from other crypto exchanges with its unique Dynamic Trading Rights (DTR) token. The exchange also differs slightly from the norm by using collected fees to purchase and burn DTR tokens via smart contracts. Due to this, DTR can then be used as a hedge in times of price corrections and market uncertainty by investors. Tokens is an innovative platform the seeks to revolutionize the crypto trading world – at least that is what is being proposed.
Quantum Merges into Tokens
Merlak has been involved with the Quantum project from as far back as May 2016, where he assisted the project by managing its liquidity pools. Quantum was a promising project, raising vast amounts of funding during its ICO. Its innovative technology has helped the Tokens project grow at an accelerated rate, and owners of Quantum’s token (QAU) have been given a conversion rate of 1 QAU for 3.9 DTR. While many QAU owners opted to swap straight away, a few are still deciding to hodl until the very end. It is still listed on a number of exchanges; however, it is suffering from a low trading volume. Despite this- according to data from CoinMarketCap – it’s currently up 3.99% in the past 24 hours. The token swap ends on September 15th – so if you are hodling any QAU, don’t forget to swap it for DTR.
A Smoking Hot ICO
Tokens ran a very successful ICO, having received $12 million out of a $15 million hard cap with 10 days remaining. The ICO sold out on time and the DTR tokens began their distribution on November 2nd 2017. the biggest chunk of DTR tokens (40%) has been distributed to ICO supporters, 30% will be reserved for employees, and the remaining 30% will be held by Tokens. If you’re on the lookout for the hottest ICOs, we put together this bumper list of smoking hot ICOs – but who knows, at this rate Tokens could become a welcome addition to that list.
Private Beta and Increased Security
It launched its private beta back in April 2018, which was slowly rolled out to a select number of users. It was designed to test the structural integrity of the platform, so it could slowly patch any issues and simplify any process that were causing users to become stuck. During the beta, all transactions were live and real. This must have put some real pressure on the developers at Tokens, as one slip-up and they could have a handful of very angry customers.
Thankfully, all went to plan and the platform has been rolled out to the public. In addition to its beta and public launch, it is one of the first crypto exchanges to hold an Extended Validation (EV) certificate. This means that in the address bar not only is the “Secure” text and green padlocked, but also the company name – making it much harder for scammers to fake the website and con people out of their login information.
Trading Volume is Totally Transparent
Due to the fact every transaction made on the Tokens exchange will burn a certain amount of DTR, it will become very obvious very quickly if Tokens is manipulating prices or artificially boosting trade volume. The number of DTR tokens burnt each day will line up with the daily trade volume on the platform. For example, if fees are 0.15% and there is a daily trade volume of $10,000,000 (1307.86 BTC), at the current price of $0.031 we would see 483,871 DTR burnt.
Unfortunately – unlike Bitcoin – you can’t mine any DTR tokens, they are simply a commodity traded on the Tokens exchange and are used to process fees. While Tokens doesn’t yet support any fiat pairs, it does however make it slightly more decentralized than some of its counterparts – so Vitalik Buterin would be happy. Tokens is introducing new crypto trading pairs frequently, adding four more pairs on July 24th.
Tokens is still very much in its infancy, so we expect a few teething issues, but this is definitely a crypto exchange worth checking out!