ExtStock Exchange
ExtStock Cryptocurrency Exchange was founded in 2018 in the UK. From the first day of work, we have set the highest quality standards, which gives our customers tangible advantages in the cryptocurrency trading. Our API allows you to process up to 1000 applications per second, thereby making ExtStock an ideal platform for scalping and high-frequency trading.
ExtStock is a close-knit team of professionals who have left the banking sector (Barclays, Lloyds, HSBC). Such experience allows to create a truly unique product that connects two worlds - traditional finance and cryptocurrencies. We strive to make the cryptocurrency market even closer and easier, and trading on it - convenient and efficient.
Today, more than 20 thousand traders have become our customers, and this figure is constantly growing. In the near future, we plan to open two more offices - in New York and Seoul, in order to open up new trading opportunities to even more traders.
XT (ExtStock Token)
XT is the official ExtStock exchange token that will be the foundation of the future ExtStock ecosystem.
Token description
The XT token was originally launched on the Ethereum blockchain (ERC-20), but in the future it is planned to transfer it to proprietary ExtChain blockchain.
For the first time, the XT token will be used to pay for trading commissions, as well as referral payouts. The volume of trading commissions will greatly depend on the current balance in XT tokens, which will significantly save on high-frequency trading. Moreover, The longer the token is stored on the balance, the higher the discounts on trading operations for a trader.
ExtStock exchange plans to burn up to 10% of the token issue every quarter, in order to gradually reduce its volume in circulation and increase liquidity and cost. Information on the total volume and the burned volume of tokens will be published on the exchange website and official social network accounts.
Monetary policy
The total emission is 1B XT tokens:
- 500M tokens are planned to be sold to exchange traders during the 3-month IEO;
- 200M will be distributed among the founders, angel investors and the exchange team;
- 100M will be distributed as part of the Affiliate program and referral payments;
- 200M will be sealed in the treasure.
Launch and implementation
IEO is planned for 3 months in 3 stages.
The first stage will be held from 15.02.2020 12:00:00 (UTC) - 15.02.2020 11:59:59 (UTC). During this period, it is planned to sell 100M XT tokens at a price of $0.009 per token.
The second stage will be held from 15.02.2020 12:00:00 (UTC) - 15.03.2020 11:59:59 (UTC). During this phase, it is planned to sell 150M XT tokens at a price of $0.015 per token.
If at any stage the tokens will be sold earlier, then the stage will be completed ahead of schedule.
All collected funds are planned to be divided into the following goals:
- 40% will go to build their own ExtChain blockchain, including the creation of a decentralized exchange ExtDEX;
- 50% will go to marketing campaigns and advertising projects ExtStock, XT Token, ExtChain, ExtDEX;
- 10% will be stored in the insurance fund and intended for payments in emergency cases.
XT token will be listed on ExtStock in all major pairs no earlier than the first stage of IEO is completed.
Applications
Earnings at registration
When registering through a referral link, each trader receives 100 XT tokens after passing KYC verification.
At the same time, the referrer also receives 100 tokens for each verified registration.
There is no mandatory verification on the ExtStock exchange, but such verification is necessary to receive an award.
Reduced trading fees
XT Token Holders will be able to:
- pay 100% of trading commissions in XT tokens (if there are enough of them on the balance of the trading account);
- save up to 95% of trading commissions, depending on how many coins are stored in their account.
- Traders holding from 1 to 5,000 tokens receive a 10% discount on trading commissions;
- Traders holding from 5.001 to 50,000 tokens receive a 25% discount on trading commissions;
- Traders holding from 50.001 to 100,000 tokens receive a 50% discount on trading commissions;
- Traders holding from 100,001 to 250,000 tokens receive a 75% discount on trading commissions;
- Traders holding 250,001 or more tokens receive a 95% discount on trading commissions.
Earnings on a referral program
Any exchange user can attract new traders through his referral link and earn money on their actions:
- Earnings for registration
As noted above, the exchange will pay 100 XT tokens for each verified registration; - Earnings for trade
The exchange will pay up to 80% of its profits from trading attracted traders. Moreover, the greater the percentage of referrals paid with XT tokens, the greater will be the payment to the referrer. In addition, the payout percentage depends on the total turnover of all referrals and can reach 80% of the exchange earnings.
Additionally, users who have attracted more than 1,000 users have the opportunity to get a branded ExtStock registration page with their logo and information about cooperation with the exchange.
Speculative component
The exchange plans to burn every quarter up to 10% of the XT tokens in circulation. For this, the exchange will redeem tokens from holders at a market price, thereby increasing the token's rate and its liquidity.
Contributing to the ExtStock Ecosystem
The ExtStock ecosystem will include:
- centralized ExtStock exchange;
- proprietary ExtChain blockchain with support for XTC tokens;
- ExtDEX decentralized exchange listing XTC tokens by voting.
XT token holders will be able to vote on projects:
- for listing on ExtStock;
- for conducting IEO on ExtStock;
- for listing on ExtDEX (for XTC standard tokens).
Holders of more XT tokens will have more weight when voting. Thus, the accumulation of XT tokens will be beneficial for coin holders and blockchain project developers.