While the cryptocurrency market has been experiencing a bear run in the first 3 quarters of 2018, the total market capitalization is still estimated to reach a trillion within the next few years. Real world use for many crypto coins may seem far in the future before major adoption will become a reality as dApps and services are still in the building and trial and error phase. It is with out a doubt that the major players that are currently seeing the most volume when it comes to crypto-usage is none other than cryptocurrency trading exchanges.
That’s not to say that cryptocurrency exchanges are operating with out any issues as the still very new industry is working out it’s kinks when it comes to providing the best service. Exchanges still prove to be inefficient when it comes to issues on thin liquidity, expensive fees, security, and over all automated execution. The top exchanges excel more when it comes to technological factors and employ some of the top developers and tech experts, but may not have the expertise or experience when it comes to dealing with financial markets.
That’s why it may be best to combine the top players in crypto technology with the experience and knowledge of those who have worked in traditional finance and trading markets like Wall Street. XTRD is a new trading platform that was created by a team with over 30 years of experience working on Wall Street.
The three co-founders of XTRD include CEO Alexander Kravets who has over 12 years experience in high frequency and propietary day trading, CTO Sergii Gulko who is the founder of Axon Software with over 11 years experience in developing high frequency algorithmic models for hedge funds and broker/dealers in the US equity and forex markets, and COO Jon Giacobbe with over 6 years in finance workings for Goldman Sachs and JP Morgan with his main focus on equity derivatives, structured products, market liquidity and execution in institutional client orders.
The XTRD team also boasts a myriad of advisors including Justin Wu, Ran Neu-ner, Steven M. Wasserman, and many more qualified individuals who have several years of experience in the technology and finance fields.
What is XTRD’s Goal?
XTRD is aiming to solve the deficiencies in today’s crypto trading markets by building a trading platform that will vastly improve the trading experience for large traders and funds. The software and hardware infrastructure that XTRD is building will provide a single FIX API for trading across all connected exchanges as well as providing a graphical user interface that will manually cross execute on all crypto markets. With this new platform liquidity will be higher due to completing trades on an order-book that includes all trades from connected exchanges. XTRD will also include low transactions fees with almost 100% up-time and reliability as well as fast execution.
XTRD has created thier own FIX API with the purpose of connecting the largest and most used cryptocurrency exchanges. FIX API stands for Financial Information Xchange Application Programming Interface. This provides a way to automate communication when it comes to executing transactions in the global trading markets. While major exchanges like Binance and others have their own API, they’re mostly exclusive to one particular platform. XTRD’s FIX API will users to easily access the orderbooks and make transactions across multiple exchanges which will create higher liquidity and easier access for individual traders, large institutions, and hedge funds.
Single Point Access SPA
Users will only need a single account to acess all exchanges. XTRD will create partnerships will the existing exchanges and act as a technology provider while the exchanges continue to remain as custodian of crypto funds. Having a single point access account while working with cryptocurrency exchanges will allow traders to trade as the best possible prices with the lowest costs and not lose profits due to arbitrage. XTRD has already partnered with some of the major exchanges that allow trading with primary currencies and are working on allowing the same features of ERC20 tokens and altcoins.
XTRD PRO is the professional trading platform XTRD has created that rivals professional traditional trading platforms. Most institutions and professional traders don’t use web-based trading platforms as they often are buggy, slow, and can experience downtime. XTRD PRO is a downloadable, secure, standalone trading application that will work faster when executing traders as well as include advanced charting and ordering options. Users will be able to access and trade from many exchanges in a similar fashion as Wall Street and other large-scale institional traders.
XTRD Dark Pool
The XTRD Dark Pool directly matches cryptocurrency sellers with institutional buyers when large crypto-to-fiat transactions are needed. XTRD will work with banking partners in the United States, United Kingdom, and Hong Kong to enable secure, legal fiat-to-crypto transactions. Large-scale transactions of this nature usually incur a commision fee of over 10%, but with XTRD Dark Pool commision fees will be less than 1%.
What Are The Uses For XTRD Tokens?
The XTRD utility tokens will be generated during the Token Generation Event (TGE) and have several different purposes on the XTRD platform. XTRD tokens will be used on the XTRD network to pay for executions, VPS, market data, software licensing, and fees. XTRD tokens will be ERC20 tokens that are built on the Ethereum blockchain. XTRD tokens will help increase liquidity as they will be used to increase inventory which will allow immediate transactions across multiple exchanges.
Users who hold XTRD tokens will also receive major benefits much like other exchange network tokens like Binance’s BNB and Kucoin’s KCS. XTRD staking will gives discounts upto 25% for general services on the XTRD platform. An even higher discount amount of 40% will be offered for users that hold a monthly minimum amount of 50,000 XTRD in their accounts.
XTRD tokens are not considered securities as they do not fall under the requirements under the Howey Test for securities.
XTRD Token Generation Event
XTRD will be holding an institutional private sale, SAFT platform accredited Presale, Public Pre-sale, and TGE Public Sale. Unlike other tokensales that create fixed amount of tokens before any sale takes place, XTRD will generate tokens in accordance to the amount of funds raised. Afer all presale and TGE public sales are completed, the amount of tokens sold will be final and no other XTRD tokens will be created. Each XTRD token will be valued at $.10 per token, with discounts given during the presale stages.
*The public pre-sale is over. XTRD has raised 70% of its $45 million hard cap. The will no be any crowdsale in the future. Total tokens generated: 952,457,688.00 XTRD
Token allocation will be divided in 50% going to the token generation event, 29% being held in XTRD reserves, 10% to the XTRD team, 10% to the adviser pool, and 1% going to bug bounties. When the crowdsale is complete, raised funds will be allocated at 70% for the balance sheet for SPA, 15% will be spent on platform development and operations, 5% for legal and compliance, 5% for sales on marketing, and 5% on tech acquisition. Every token will be spent on propelling the success of the XTRD platform and network.