For most token assets developed on the blockchain, their life begins on a cryptocurrency exchange, which impacts on the adoption and general overview of a project. It’s easy for cryptocurrency users to determine the value of some specific asset trading on an exchange, without having to directly relate with the project itself.
This is because the trading history and rate of order execution – liquidity – fairly describe trader sentiments towards that particular asset. Among other problems faced in the cryptocurrency industry, liquidity represents itself a huge deterrent, oftentimes leaving many with untradeable tokens.
The Eureka Network, a blockchain project built on Bitcoin’s UTXO model, with support for Ethereum Virtual Machine-based smart contracts, has developed the EurekaX exchange touted to be a real solution to the liquidity problems plaguing the industry. The team’s plan involves linking EurekaX’s order book with top exchanges, such as Binance and OKEx and create a larger pool of order books. This is expected to speed up the rate of matching orders placed on the EurekaX exchange and as a result, improve the liquidity of listed tokens.
The platform promises super-fast transactions, highest security, multiple order books spanning top exchanges thereby providing highest liquidity, and an opportunity to earn up to 25% commission of unique referrals in a 2-level deep referral program. For early sign ups, the exchange claims to grant free 300 ERK Coins.
Moreover, projects built on the native Eureka Network blockchain will have a direct listing opportunity on the EurekaX exchange, and this would eliminate the hurdles of listing on a highly liquid exchange as developers are guaranteed high-liquidity on the EurekaX platform.
The exchange will be live for traders to begin deposits and trading on 21st August 2019. As for already existing projects on the Eureka Network blockchain, and for prospective projects willing to use the network’s ERC20 and ERC22 token protocols to develop their project, there could be no better news for their token listing.
The team is also considering a decentralized exchange as well, which is slated for launch in the latter quarter of the year. The objective is to house all token types and to allow cryptocurrency traders to trade with ease, considering the advantages decentralized exchanges can offer.
EurekaCoin (ERK) is the platform’s native proof of stake (PoS) cryptocurrency which has utility on both the main blockchain platform and on the EurekaX exchanges (centralized and decentralized exchange). And while there is already a limited supply of 150 million ERK tokens, the team will also consider a buy-back event using 50% of the profits obtained from the DEX, which will invariably increase the value of the tokens in the long run.
New users are currently offered the opportunity to earn a registration bonus of 300 ERK tokens, exclusively meant for those who register between now and the 21st August 2019. In addition, users can as well join the referral program and earn 200 ERK for every friend referred to the trading platform.
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