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Bitcoin was the first cryptocurrency to really take off. Since its inception, it has grown exponentially and been recognised as the major cryptocurrency and in certain jurisdictions already means of payment.. Interest in other cryptocurrencies is now growing, and investors are beginning to explore the opportunities they can offer. One of the cryptocurrencies that have begun to pick up steam is Ethereum, the cryptocurrency and blockchain platform. The value of Ether rose from a high of $10 in July 2016 to $395 in June 2017, although it had fallen to around $220 by the next month. One thing that has driven Ethereum-based tokens is the creation of the ERC20 protocol standard. Any token that follows the protocol is an ERC20 token and follows certain standards relating to transfers, balance and supply.
Both ERC20 tokens and other cryptocurrencies that are predicted to evolve in the future need reliable trading platforms. Most cryptocurrency businesses, however, are not keeping up with the latest trend. This issue will be addressed by Tokens, a new cryptocurrency trading platform to allow trading pairs between ERC20 tokens and aims to revolutionise the current trading market. Tokens will be funded by selling vouchers for future trading fees to ICO backers in the form of future trading rights. They will be represented by an ERC20 token created under the ticker DTR, standing for Dynamic Trading Rights.
Tokens is created by Damian Merlak, who is the founder and Lead Software Architect. With more than 15 years of experience, he is co-founder of Bitstamp, the world’s leading cryptocurrency exchange and founder of the Quantum Project. He is joined by seasoned team of experts, namely for corporate, finance and control Gregor Karlovsek, development Gregor Gololicic, IT and security Luka Pusic, design and marketing Matej Rasman, and business development Sebastjan Stucl. Member of the founding team are passionate about fintech and cryptocurrency and determined to develop the next generation of cryptocurrency platform.
The number of existing cryptocurrencies has grown by 63% between Q3 2016 and Q3 2017, with the total market cap growing 875% in the same period from $12.1 billion to $118.4 billion. The average daily volume also rose by an incredible 3,259% year on year. This ecosystem needs trust, transparency, safety, reliability, attributes which Tokens is determined to address.
In the bitcoin market, 43% of trading is bitcoin against other cryptocurrencies, and 57% is bitcoin traded against fiat currencies. Trading between different cryptocurrencies represents today only 23% of all cryptocurrency trading, what makes a new generation trading platform making a platform for trading different combinations an excellent opportunity as it is envisaged the volumes to grow and share to increase.
It is forecasted by 2019, bitcoin/cryptocurrency trading will be more popular than bitcoin/fiat transactions at 52% against 48%. By 2021, bitcoin/cryptocurrency trading could account for 61% of total bitcoin trading. These predictions may be supported by numbers of Google searches for ICO tokens, and such positive trend and increased interest in token investments and trading among the general public will be a key driver.
Tokens platform has certainly got an enormous potential, therefore, predicted earnings are realistically set at $18 million in the first year of business, based on a 2.5% market share, 25% crypto/crypto market volume, and global market volume of $12 billion. These figures may also derive from the market size and crypto/crypto volume, where the total crypto market volume is at $1,920 billion, with the crypto/crypto trading market volume at $480 billion. An estimated average transaction fee of 0.15% (0.75% buyer/seller direction) gives us $18 million figure for year one.
DTR tokens are designed to represent a right to trade on the Tokens platform for any currency pair. The trading amount will be set based on the market price of DTR when trading and transactions will be charged at the best price so buying DTR tokens in advance benefits traders and investors. However, the seamless transaction fee process will mean that no one will need to use DTR tokens if they don’t want to. Traders can benefit from buying at lower DTR prices and holding their currency until they are ready to sell at a higher price. Thanks to the ability to trade any cryptocurrencies using DTR tokens, the platform offers a lot of potential to traders. Traders will still be paying fees, but they will be able to keep them a lot lower in comparison to other methods of trading cryptocurrencies and other currencies. While regular fees stay the same, DTR fees decline with the price increase.
Tokens will shake up the market by being the most transparent cryptocurrency platform. The daily volume will need to match the number of tokens burned each day, which rules out cheating or artificial inflation. The platform also offers constant liquidity and an automatic offset, making it unique in the market. Traders can either insert a sell order and wait for an automatic conversion or trade their tokens.
One special feature of the Tokens platform is that it will feature DTR Voice, which gives the community the opportunity to contribute their opinions. They will be consulted on decisions related to trading pairings and other changes and advances that will affect the user experience of the platform. Periodic polls will be tied to DTR tokens so that those who contribute more tokens will give more weight to their opinions. Still, DTR Voice will be discretional for the platform to take on received opinions or results.
Current cryptocurrency trading platforms are focused on particular currencies. The introduction of a trading platform where any ERC20 tokens can be traded against another can shake up the market and revolutionise the trading environment. The innovative Tokens platform caters for growing demand for cryptocurrency trading and investment. DTR tokens can be bought with bitcoin, ethereum or ripple to get started. Keeping up with the latest trends in cryptocurrency helps investors and traders to stay ahead and capitalise on the success of cryptocurrencies. Tokens is predicted to have a successful first years, benefiting from the growth of various cryptocurrencies and the cryptocurrency trading market in general.