CGCX ICO Review: and what about fair exchange?
Hello and let me begin right away: today we are talking about a relatively new project for the successful exchange of crypto-currencies. You bet, one more? In fact, CGCX will not be superfluous in the ocean of hundreds of online exchangers. Because it is newer and better. Because the transactions on it will pass more smoothly and without delays. Another “zippo”? Let's be realistic and see what the CGCX platform promises us.
Diagnosis and decisions
There are a lot of crypto traders on the market, in your country there are more than ten thousand of them! Therefore, on the exchange market, crypto currency periodically creates pandemonium. Someone wants to buy bitcoin quickly, while it becomes cheaper. Or vice versa. Did someone have cases of hacking a purse by cyber-crooks? I did - yes, already in the first month of possession. And there is another problem I had: it is impossible to convert the cryptographic code into an exchange system and as a result - the delay in the transaction, the loss of money on the course change.
What's all this for? To the fact that Calfin Global Crypto Exchange or CGCX offers to solve similar problems. It will be a new decentralized exchange platform, which will work so that traders forget about the problems.
Functions that CGCX will provide
- Exchange of currencies which already exist in the crypto system. The creators of CGCX promise to increase the liquidity of currency pairs due to the fact that the local token will be freely transferable on the Ethereum platform. Well, at the expense of other instruments too!
- Protection against hacking and other cyber attacks by a unique security algorithm. On exchanges with centralized management thefts are still not uncommon, so that a decentralized platform must solve this problem;
- Fast transaction processing - more than 1 million orders per second (wow, I would like to believe!);
- Conversion of crypto currency into fiat with ease and wind velocity;
- User-friendly interface, which even my grandpa will understand.
CGCX Tools
Exchange for everybody - this is the motto of this platform, which is by the way a hybrid. That is, you can trade both world currencies and the local CGCX token. For the last one you receive a fancy discount of 50% of the transaction value. Oh, that makes you flyhigh, right? Perhaps this information will change, but so far the promise is tempting. Tools that are worth to mention:
- The ICO platform - along with a minimum of 0.1 token for each participant.
- Merchant Solutions – by the connection of the payment gateway you get VERY rapid operations through the CGCX Point-of-sale (PoS) application;
- Smart Contracts - as elsewhere on similar blockchains. With their help will be conducted creation and digitization of trade agreements and crypto assets.
- The CGCX token is based on the ERC20 protocol. I will consider more about it in the following sentences.
It is obviously that trade will go on during 24 hours 7 days a week and in a multi-currency format. If you want to make orders in the form of an order book, the chosen one will be available.
Geography of the project and it’s team
At first blush, the Calfin Global Crypto Exchange covers only the South Asian region with key offices in Bahrain, then the United Arab Emirates, India, Oman, Singapore and Indonesia. However, it does not mean that residents of other countries can not use it (I'm not sure about China and the US). As for the team, it also consists mainly of Asians. And these people, as you know, like to work flawlessly and follow through.
About the partners (there are not all of them):
ICO CGCX and Token Sales
Main sales will be run on the 1st till the 31th of Jule. Also the launch of CGCX Exchange and Submission of Mobile App & Wallet is planned at the same period. Here's what I’ve got from the official site about the tokens:
Ticker: CGCX
Total number of tokens: 2 billions
The ICO distribution: 50% (1 billion CGCX tokens)
Soft cap = 5,000,000 USD
Hard cap =117647 ETH
Price - 1 ETH = 8500 CGCX Tokens
Pre Sale is already closed, the last date was 15th of May. We can already see how the token pool will be distributed: a half is allocated to SAFT, Pre Sale & Public Sale. For the future of the plan, there are 19% allocated, the team and founders are assigned 10%, the other 10% are planned for development and 11% are rewards for the Bounty Program participants.
DISTRIBUTION OF FUNDS
Business development and geographic expansion 15%
Working capital 20%
Product improvement and R & D 30%
Marketing and sales 20%
Team and operations 15%
Conclusions
CGCX came up with an ulterior motive, apparently, the developers were bothered by the slowness and low level of protection of operations on open exchanges. What makes trade difficult and complex must be analyzed and eliminated - that's the ticket! And between the future plans of this platform is to continue with expansion in other countries, so attracting the investors is in full swing. I will add that the administrators of the CGCX exchange respond quickly and try to help. Already now you can read more about and test this system – I give the links below.
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Why is it better than any other exchange?
As I understand they can bring satisfaction to a wide range of customers such as professional institutional investors and regular traders. Different user interface for different users needs and they can have much faster protocol with millions transactions in theory.
Does it have mvp?