There is plenty of potential for better cryptocurrency exchanges. Most of the current trading platforms are far from optimal, and it seems Tokens aims to make a positive impact in this regard. The team is working on building a superior cryptocurrency exchange with Dynamic Trading Rights.
THE PURPOSE OF TOKENS
Unlike centralized exchanges, Tokens aims to provide a “next-generation cryptocurrency trading platform” to the masses. Moreover, the team wants to introduce Dynamic Trading Rights to provide a trustworthy, transparent, safe, and reliable place to exchange ERC20 tokens. It has become evident that the demand for ERC20 tokens is greater than ever, which means users will be looking for more ways to exchange said tokens.
HOW DOES IT ALL WORK?
Simply providing a new trading platform for ERC20 tokens is not all that noteworthy these days, for obvious reasons. Tokens will set itself apart in this regard by introducing DTR Voice. Community members who hold Dynamic Trading Rights tokens will be consulted regarding the future direction for this trading platform and additional pair listings. Considering that the exchange wants to support as many currencies as possible, the feedback from community members may prove invaluable in the long run.
There is some explaining to do as far as the Dynamic Trading Rights token is concerned. The development of Tokens will be funded by selling vouchers for these tokens to ICO backers. Every voucher represents a future trading right, which is known as the Dynamic Trading Rights token. With this token, users can make trades on the Tokens platform regardless of which currency pair they want to use. The amount of trading to be funded with one token will be dynamic at all times.
Interestingly enough, there is no requirement to own any DTR in advance to make use of the Tokens platform. However, those who hold DTR tokens will be in a better position to complete market trades. That’s because DTR holders will be charged at the best ask price, whereas non-DTR holders will be charged a fee in the currency they are trading in.
BUT WAIT, THERE’S MORE
It is also worth noting that the Tokens team will burn DTR tokens used for trading to reduce the overall supply of its native asset. This “burn phase” will occur on a regular basis through a smart contract which automates the process. As such, anyone in the world can access the Tokens platform, but there is no real need to ever own any DTR tokens unless you are interested in the reduced trading fees and whatnot.
THE ROAD AHEAD FOR TOKENS
According to the Tokens roadmap, we will see a private beta launch of this new trading platform in early April. A beta for the mobile app is scheduled for June, with the platform going public in July of this year. Later this year, we will see the public launch of the mobile app. Everything beyond then remains unannounced at this point.
by JP Buntinx