Blockchain is a fantastic technology: it not only is penetrating in every aspect of our life and revolutionizing businesses and even whole industries but makes people way savvier and more demanding. For instance, institutional traders are not any longer satisfied with existing trading platforms – they want more sophisticated solutions to meet their ever-increasing needs and keep pace with the evolving technology. CGCX is a project aimed at giving traders something new and unique.
CGCX is an acronym which you can decode as Calfin Global Crypto Exchange. A startup from Singapore, CGCX is essentially a hybrid platform for trading both cryptos and currency pairs. Yes, it is an exchange, but not an ordinary one.
CGCX is an acronym which you can decode as Calfin Global Crypto Exchange. A startup from Singapore, CGCX is essentially a hybrid platform for trading both cryptos and currency pairs. Yes, it is an exchange, but not an ordinary one.
What Puts CGCX Apart From Competition?
CGCX will run on the blockchain technology to ensure an utmost security of both transactions and personal data. Private information and other sensitive details will never be stolen or misused – at least, it is claimed in their whitepaper. An increased level of security empowers institutional traders to execute especially large deals without any risks.
Then, CGCX will insure wallets of the registered users against any type of cyber attacks and hacks. Authors of the project state to allocate a significant (up to 50%) of their revenues for the accounts insurance to win users’ trust and provide them with additional financial protection.
The exchange is called hybrid because it will allow people to trade crypto-to-crypto and fiat-to-crypto trading pairs. And their day-and-night technical support will give customer peace of mind that their problems are addressed the moment they occur.
The front-end user interface will be intuitive for both beginner and veteran traders. It will feature a vertical trade ladder, click-to-trade features, multiple order types, and other functions typical for a modern exchange, including live market analytics and a mobile version for Android and Apple devices.
How will CGCX Work?
CGCX will be a multifunctional platform, consisting of four different modules, each of which is meant to serve particular needs. These modules are:
- Crypto Exchange. It is a non-stop marketplace to trade digital coins, national currencies, and other assets. This module will also include users’ e-wallets with to execute multi-currency payments. Withdrawal and deposit processes will be possible only under two-factor authentication to exclude a risk of fraud and attacks. A capacity of CGCX Exchange will be (or claimed to be) one million transactions/second.
- ICO Listening Platform. This module will allow newly generated alternative coins (altcoins) to be included into CGCX Exchange. New cryptos will appear in the exchange inventory only if the community decides so through voting. To vote, CGCX users will need to pay some CGCX tokens as a voting fee.
- Merchant Solutions. CGCX will develop own Point-of-Sale application and payment gateway plug-in for online vendors and merchants to enable them to accept versatile cryptocurrencies as a payment. The application, by the way, will have certain CRM features (customer behavior and buying patterns insights, trend analysis, etc.) to empower merchants to deliver a more personalized service and better cater to the needs of their clients.
- Smart Contracts. This module is responsible for triggering self-execution of payments and automation of settlements and trades.
A beta version of CGCX is ready and functioning. If you wish to, you can open an account right now.
CGCX Token Mechanics
The second phase of their main sale is live and its timeframe is July 5 – July 31. You can sign up for CGCX token sale here.
- Token price is 1 ETH = 8500 CGCX Tokens
- Total token supply is 2 billion CGCX tokens
- Fundraising goal is 117647 ETH
- Method of Contribution is BTC and ETH
- Token type is ERC-20 (it will support any types of Ethereum wallets)
CGCX token is a utility token necessary to perform different actions on the CGCX Exchange such as to have an ICO voting right, to pay for merchant apps and services, to pay for transaction fees, and more.
Summary
CGCX is a hybrid exchange designed for both crypto and currency traders. The project is somewhat unique because it will insure every user’s wallet to give stakeholders additional financial protection and develop applications for merchants and e-commerce to help them start accepting payments in cryptos. The fact that it is a Singapore-based company with a live beta version of their product to try definitely gives CGCX a credit.
Though I like this project for many reasons (a well-developed website, easy-to-understand documents, quick response in social media), do not take my words as an investment advice. Perform your own research before you decide to contribute them your money.
Though I like this project for many reasons (a well-developed website, easy-to-understand documents, quick response in social media), do not take my words as an investment advice. Perform your own research before you decide to contribute them your money.
CGCX additional links
Website | Whitepaper | Lightpaper | Blog | Telegram | Facebook | Twitter
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