Market need to undergo global cleaning!
Most of analysts say that there are approximately 1500 cryptocurrencies of the market, but most of them do not have any practical usage. Moreover, they are just waste of space, because projects behind these tokens is dead too. In the same time, we can notice most of them on exchanges. What is this done for? I have one pretty good thought!
Every exchange is making money and it is not a secret for anybody. In the same time, exchanges do not want to spend a lot of money on promo activity, but they want to maximize profits. For some people it may some like impossible mission, but it works in real world. There are three main advantages of this strategy:
New tokens pay for the listings, so owners of cryptocurrency exchanges are ready to list anything, even fake and dead tokens. It is all about profit. By the way: even if you will prove that tokens are fake, it would change nothing. Sometime I think that absence of punishment killed all the responsibility in this sector of cryptocurrency world.
People, who sell dead tokens pay fees. Even if nobody will buy these tokens, platform will get fee for deposit and fee for creation of offer, so they do not really care about traders’ success.
Amount of tokens, which are available for change could be used as great marketing took: when exchange says about 200 available cryptocurrencies, you need to be ready that up to 90% of them are dead tokens. However, it works for newbies, which think that such exchanges are big players, so they should be trusted.
Clean market will recover faster
IronX will be one of the first exchanges, which will use listing opportunities for increasing profits of its token holders. For this purpose, special committee will be created. It will filter dead and not demanded tokens, so users could be sure that platform cares about their security. In addition, absence of suspicious coins will be a rule to protect the reputation for the platform.
Committee will include not only team members, but also hugest investors and token holders, so IronX will be sure that every opinion was heard and the final decision about the listing of tokens. It means that even when some part of this committee have an malicious intense, others will have enough power to prevent this action.
One more important difference of IronX is the currency, which is accepted for listing. Usually owners of exchanges get payments in BTC or fiat. Some of them are risky enough to take payments in listed cryptocurrency, but it does not seem to be a good call. In the same time, IronX will take only IronX tokens as payment for listing. It means that every time when some team want to be listed on IronX, it should buy tokens on external market.
As you can see, IronX uses listing as one of the tools for increasing of internal token value. It is a good example of care about token holders and I could not manage to find one more similar example. Can you?
Website: https://ironx.io/
Whitepaper: https://ironx.io/IronX_WP_Version_1.2.pdf
Bitcointalk ANN: https://bitcointalk.org/index.php?topic=5059654
Twitter: https://twitter.com/IronXExchange
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Author Arcanefist : https://bitcointalk.org/index.php?action=profile;u=1372318