20 April 2018
Exchanges are crucial when it comes to cryptocurrency industry, as they provide supply, liquidity, and stability to the market. Without these platforms, there would be hardly any place where you could purchase and sell cryptos. Thus, we made this review about NEX platform, listing out important information about its ownership, goals, ICO, and benefits.
So, what in the world NEX is? It is a decentralized platform that is part of the NEO technology, used to do complex trading functions using NEO and GAS tokens only. The exchange works with these two as a main pair of trade while offering off and onsite trading functions. The offsite is more interesting, as it allows you to work with wallets outside of the platform and to make trades using sophisticated API tools.
These offsite trading functions include margin trading tools that are available in the market but only as in-site. NEO plans to be the first to implement several NEO wallet platforms within its environment, which is something that no other exchange achieved so far without you working on a complex APIs. The NEX exchange does that for you instead. The fundraiser is set to take place in April, organized in an ICO.
To start off, you should use NEX platform only, since there is a high probability of scams asking from you your wallet address information and payments while acting like NEX ICO. Now that we have gotten that out of the way, we start with lottery.
The lottery was organized for 25.000 winners who got a unique KYC identity number and ability to contribute $1.000 for the ICO. In this way, platform would randomly award its token called Nex equally, not allowing several parties to take over the marketplace.
Here are some number s of the ICO and token itself that you should be aware off:
– ICO price: 1 NEX = 1.00 USD
– Total Supply: 5 million Nex coins
– Total Market cap: $25 million
Nex Allocation: 50% Public, 20% Founders, 15% NEO council, 10% Partnerships, 4% Company Fund, 1% E.S.O.P
The token is to be used in exchange with NEO and GAS, while Nex team is sure to exert efforts in including its coin in other exchanges as well. The ICO itself is organized into two rounds. The first is set to reach the cap while the second is designed to sell out remaining coins should they fail to be handed out in the round 1.
The lottery for Round 1 went by, already having 25.000 people selected. The maximum contribution was set to be $1.000 through lottery, that should reach its goal of $25 million with an ease. We are yet to see the results as the end of April is set to be the deadline.
Another cool feature you should check out by EX team is Chrome wallet’s extension, which is also necessary for you to participate in the market and in lottery. The main use of the extension is to provide privacy for users without going overboard with verification and identity check demands. You are to provide your passport though if you wish to participate in the ICO lottery (already completed).
Be warned that the said extension will need ot access your computer’s location and use other data like IP address and ownership of your PC. It will ask for permissions, which is necessary as it still breaches privacy.
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