Cryptocurrency exchanges are an intricate part of the digital asset industry, as they provide token traders the ability to maximize the fungible quality of tokens. However, a major limitation is liquidity, which is the ability to readily convert a cryptocurrency without waiting too long for the trade order to be matched. The operational word here being ‘readily’, as not every trader can get their order executed at the price and time they desire due to market volatility, and oftentimes, have to use the limit order when a market order is unfavorable. Moreover, even at market order, many tokens appear to have low liquidity – with no one opting to trade even at the market value.
The problem of liquidity in the cryptocurrency industry has been a long-standing issue and though many cryptocurrency exchange startups may have attempted to alleviate this problem, there remain many that manage a silo-like operation. This tends to limit individual exchanges in providing their customer base with the utmost liquidity.
Breaking the Silos
Blockchain platform Eureka Network, which is ERC20 and ERC22 compatible, has proffered a solution it describes as a high-liquidity exchange that would appeal to any trader regardless of trading experience. The upcoming cryptocurrency exchange, dubbed EurekaX, will be ready for full launch by 21 August. It promises to deliver the best user experience featuring a throughput cryptocurrency liquidity as it plans to build a network of order books across top exchanges such as Binance and OKEx, thereby breaking the norms of silo-like order book cryptocurrency infrastructures.
Another advantage of the initiative is the fact that all tokens to be created on the Eureka Network will automatically be listed on the EurekaX exchange, thereby sparing investors the waiting pains of token listing. Notably, the team behind Eureka Network have hinted at a line of developers waiting to launch their products on their network.
A Tokenized Exchange
Next quarter, the Eureka Network team plans on launching a decentralized exchange (DEX) that will allow all sorts of tokens to be tradeable, creating a holistic fungibility and liquidity platform. Both centralized and decentralized exchanges will attract all kinds of project developers, with the team’s unique strategy of incentivizing developers with the native EurekaCoin (ERK) token to build native DApps on the platform.
ERK is a proof of stake (PoS) coin native to the Eureka Network and will be instrumental to the development of the platform as well as the growth of its ecosystem as it will be used to collect transaction fees on the network. These transaction fees will be paid to the projects who build on the platform, thanks to the PoS design as well as a blend of both Ethereum and Bitcoin algorithms. Moreover, 50% of the proceeds from the DEX will be used in a buy-back program to limit the circulation of ERK tokens. The fixed supply of 150 million ERK, alongside the buy-back program, is expected to inevitably bring more scarcity value to the tokens within its ecosystem.
In order to create buzz within the community about its launch, the EurekaX team has announced a one-time registration bonus of 300 ERK for 100,000 new registrants between now and 21st August, 2019. New users can register on the Eureka website before the 21st August deadline and take advantage of a referral campaign that gives them a 200 ERK reward for every user referred to the exchange.
To learn more about the Eureka Network, visit the website: https://eurekanetwork.io/
To learn more about the EurekaX exchange, visit the website: https://eurekax.io/
This is a submitted sponsored story. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the content above.