Good day my fellow steemians, it’s another exciting time for yet another great blockchain project review on my blog, in my post today, I will be reviewing an exceptional platform that is set to revolutionize the online auction industry.
Auction market as defined by an online dictionary is a market in which buyers indicate the highest price they are willing to pay while sellers indicate the lowest price they are willing to accept, therefore, a trade occurs whenever the buyer and seller agree on a price.
However, I present to you all today a platform that has decided to use the mechanism behind the auction trade to build its exchange platform using the blockchain technology.
Introducing TradeForYou
This is a platform that has been created mainly to annihilate the problems in the cryptocurrency trading market through auction-like transactions.
On this platform, there will be several configurations and additional functionalities to the participants of auction rooms and they will be able to participate with automatic bids which can be measured in quantity and value.
Its an exchange platform where people can easily trade financial, technology and information products and also.
What other Features makes the Platform stand out from its counterparts?
- Availability of lowest transaction cost for all trade on the platform
- Decentralized operation structure being offered through a distributed ledger system
- Enhanced and second to none security measures
- Fund management service that allows anyone enter the auction room, bring in other users and also make communication with them, hence participants compete with one another in order to get higher returns
The Modus Operandi
- On TradeForYou platform, an auction room is created each time a user puts up a cryptocurrency (tha one that has already been integrated into the platform) for sale which allows people to select this option and automatically, the system fills the room with these bids from other people. The most amazing feature about the platform is that the people that set these bids need not be online before they get their bids filed up, they can decide to go offline while their transaction gets executed.
- As soon as all lots have been sold out, all auctions in such room will be finished and if there are no enough buyers to perform the auction automatically, the room will remain opened till lots can be bought which allows users to set their bid manually.
Token Details
The native token of the platform is the TFY token which is a utility token and allows users participate in auction rooms and also plays an important role in engine and implementation of the ecosystem.
The membership level of a user on this platform affects greatly the calculations and functionalities. Presently, there are only 2 levels on the platform which includes (1) the basic user and (2) The VIP user.
A seller can reach the VIP level by holding more than 20,000 TFY tokens and is hit by buyers at 5,000s target.
The main advantage of the VIP is that the user gets the opportunity of getting the highest price possible over the market value per assets that is being offered while buyers have a greater discount available in the purchase of auction lots which is below nominal value.
Conclusively, the idea behind the creation of this platform is extraordinarily amazing which proves the competency, experience and innovative nature of the set of team behind the project, hence, the cryptocurrency industry is about to experience a whole new dimension in trading experience as a result of auction trading mechanism being introduced by the TradeForYou platform. I bet you don’t want to miss out on this platform.
For more enquiries and information about this platform, kindly check the links below;
Website
Whitepaper
Telegram Group
Twitter
Instagram
Medium
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