Website: https://coinolix.com/
At coinolix are developing the first multifunctional cryptocurrency exchange ecosystem by combining a robust exchange platform and a decentralized blockchain protocol in which digital tokens are pegged to One US Dollar and backed by asset reserve as gold by Coinolix Exchange Limited to provide a decentralized method of exchanging value through Fiat pegged Coinamia coin.
A pure cryptocurrency exchange - Coinolix Exchange Limited
In today’s market there are two types of exchanges, fiat currency based exchange and pure cryptocurrency based exchange. Will only focus on pure cryptocurrency exchange.
A fiat pegged cryptocurrency solution - Coinamia Fiat Coin(USDC) A peer-to-peer crypto-currency design derived from Proof-of-stake consensus to provide network security. Each USDC coin unit issued into circulation is backed in a one to one ratio (i.e. One USDC is one US dollar) by the corresponding asset reserve held in bank by coinolix Limited. This cryptocurrency will be redeemable or exchangeable for the underlying asset reserve following to Coinolix Exchange Limited’s terms of service. it will be transferable and spendable, much the same as some other cryptocurrency.
Architecture
Trade frameworks should be designed starting from the earliest stage with security, effectiveness, speed, and adaptability as a main priority.
Numerous exchanges frequently pick the easiest way to deal with get the framework up and running. While this may function admirably to start with, as activity develops, the framework won't ready to deal with the expanded network load.This frequently backs off the underlying advancement of exchange, yet it is basic for long haul achievement.
Liquidity
Since the crypto business is so new, it isn't precisely coming in liquidity. Having a unsound order-book implies high slippage when trading cryptocurrency, which is exceptionally costly for traders.
Platform security
Almost all cryptocurrency is immutable and there is no way to change once transaction is made because of this exchanges refuse to take responsibility for transactions.There are several exchanges that went down due to being hacked.
There are propelled advancements that exchanges would profit by with respect to recognising endeavoured hack.Nonetheless, these advancements are expensive to the point that exchanges have no chance to get of gaining admittance to them, meaning they are liable to almost any programmer with enough know-how to get around their security frameworks.
Poor customer support
Traders are a different breed when it comes to users. Understanding the users problem is vital for running a successful exchange.At the point when the exchange demonstrations in a way that undermines trust of trader would be unacceptable, resulting in a tones of user complaints.
Language support
Cryptocurrency market have no borders, Most of the exchanges concentrate just on one dialect or one nation and this result in poor support for this international market.
Banking hurdles
Banks are additionally obstructing boundless trade selection of the exchanges, due to extreme volatile condition of cryptocurrency market. Banks put them self in back foot when it comes to verification and users background checks.
Coinolix Exchange
Trading Engine
The matching engine of the Coinolix Exchange is fit for managing 1,200,000 order per second. High number of trade requests can be countered with the adaptable and extensible engine in a matter of moments. Along these lines, matching engine can stand up for itself with one of the quickest and most secure engine available in current market.Thus, traders can be saved from basic issues like stuck trading requests or tedious handling of the trades.
Features:
● Spot market trading
● Margin trading
● Futures market trades
Tradable Assets:
Coinolix exchange will support trading pairs in the following coins.
● BTC
● ETH
● XRP
● NEO (ANS)
● LTC
● DASH
● CLX (Coinolix Coin)
● USDC (USD pegged Coinolix coin)
By and large will just include coins that have solid validity, client base, and liquidity.Have no plans to add any fiat monetary standards at all.More coins will be included in near future.
User interface (UI):
At Coinolix exchange Will provide cross-platform Device Coverage:
● browser-based trading platform
● Android app platform
● iOS app platform
● PC (Windows, mac, linux) trading platform
● REST API
Language support
Will support English, Chinese，Russian, Japanese and Korean on all of user interfaces. (The very initial release will be in English and Russian only.) More languages will be added over time.
Revenue source
Trading fee: Will at first charge a 0.2% fees for every settled exchange. Different varieties of fees will be along these lines presented in future, including market maker-market taker, volume based discounts and 0 fee promotions.
Withdrawal fee: charge some small amount of fees at the time of withdrawal.
Margin fee: On the off chance that you exchange on margin, there might be a charge or interest on the acquired sum.
Coin listing fee: Will select coins through verification process and make sure that the assets to be listed on the exchange are unique and can create value in future, may charge a fee for listing new coin on exchange.
24/7 Customer support :
Rather than giving pre-designed script to the customer, prefer to share support and responsibilities to be distributed within staff and company in such a way that customer specific problem can be solved by the designated officer for that particular problem.
Security :
DDoS attacks protection: Due to high-traffic activity cryptocurrency exchanges are regularly prone with DDoS attack. Use secure distributed network of CDN (content delivery network) server that can successfully take load of good number of database request in any given moment to keep exchange services online 24/7.
Exchange audit: devoted Vulnerability Research Team will watch the platform execution day in and day out to keep any conceivable defencelessness attacks. Will also think of additional safety efforts as the market appropriation develops in upcoming future.
Encryption and Backup: Will use complex encryption strategies and perform day by day information reinforcements to ensure all the user data is secure. This approach moved down by decentralized foundation will enable us to secure client's information even in the direct outcome imaginable of hypothetical hacking attack.
Two-factor authentication: by applying two-factor authentication on top of username and password to secure users from phishing site and email vulnerability.
CLX Token Detail
CLX Token is an ERC20 standard token from the Ethereum Blockchain. This multipurpose token that can be used as a medium of exchange as well as for paying transaction fees, trading fee, withdrawal fee, listing fees on Coinolix Exchange.
Pre-sale Detail
ICO crowdsale Detail
Token distribution
Fund usage Detail
Buy Back & Burn Program
• Every quarter, use 20% of Coinolix exchange profit to buy back CLX coin sold during ICO and burn them.
• CLX coin buy back program will continue until 60% of all publicly issued CLX coin are burned.
• CLX coin Buy Back & Burn Program begins in Q3 2019.
Roadmap
March 2017
Cryptocurrency exchange technical and market research begins for next generation centralized and decentralized exchange development.
August 2017
Cryptocurrency trade engine finalized and review face begin for security audit and UI development of exchange.
January 2018
Gathering of highly skilled development team for building exchange and finalising blockchain technology for Fiat coin altogether.
March 2018
Market research and analysis for Planning Initial Coin offering Finalizing.
July 2018
Starting of Airdrop and white listing and KYC registration for crowdsale.
August 2018
Fiat coin blockchain development and consensus development audit.
October 2018
ICO Pre-sale Phase begins fo Fifteen days from 8 Oct 2018 to 07 Nov 2018.
November 2018
Beginning of ICO crowdsale is from 8 November 2018 to 13 December 2018.
January 2019
Beta version of the exchange online.
Q1 2019
Announcement of tie-ups with third party trustee for gold reserve and liquid reserve audit.
Links:
Website: https://coinolix.com/
Whitepaper: https://coinolix.com/document/coinolix-whitepaper.pdf
Facebook: https://www.facebook.com/coinolix/
Telegram: https://t.me/coinolix
Twitter: https://twitter.com/coinolix
Reddit: https://www.reddit.com/user/coinolixexchange
Linkedin: https://www.linkedin.com/company/coinolix-exchange/
Medium: https://medium.com/@coinolix
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