Ended ICO : 15/06/18 – 15/07/18
The Abacas Exchange – Any Asset Anywhere Anytime!
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Abacas is a universal exchange that allows you to trade, exchange or transfer Any Asset Anywhere Anytime.
Concept description: AbacasXchange is a universal exchange. This means that you can exchange your AAPL stock for BTC in 1 transaction.
It reduces risk, improves liquidity and mitigates cost.
With each blockchain service that is founded, a new cryptocurrency is frequently issued for both initial funding and as the currency (gas) used to pay for the services provided. In order for the blockchain service to gain traction, there needs to be a programmatic method to automatically purchase small amounts of the blockchains’ cryptocurrency for payment of the services of the blockchain.
The AbacasXchange provides APIs (Application Programme Interfaces) whereby micro-transactions of gateway assets may be exchanged for other less liquid crypto-currencies of a blockchain service provider. This automatic exchange and payment processing will enable cross-chain applications without the need to hold reserve crypto-currencies for every blockchain that may be utilized.
As distributed blockchain ledgers become an accepted registry of asset ownership and digitized value transfer, there must be a method of exposing these tokenized assets for trade and exchanging one asset for another. As a result, exchanging tokenized assets requires a set of rules and procedures to insure the integrity of the counterparty, the assets and the transaction, in order to protect the rights of ownership to the underlying asset.
The AbacasXchange provides for the trading of all assets including asset tokens created using standards such as the ERC20 & NEM Mosaics. Beyond trading digital tokens, the AbacasXchange provides for assets that are Fulfilled by Abacas.
A Fulfilled by Abacas asset is one that is held in safe-keeping [custody] and one in which the asset’s existence, authenticity and provenance are assured.
The AbacasXchange enforces the integrity of “Fullfilled by Abacas” assets through a set of rules and procedures known as the Abacas Protocol.
Tokenized assets may be transferred for payment, or exchanged for the purposes of investment and speculation. These macro-transactions require a highly visible order book with a view into the open orders and depth of market prices.
The AbacasXchange provides a matched order book for the placement of market and limit orders across all assets on the exchange. Where liquidity cannot be discovered directly, the AbacasXchange will attempt to link orders through “Gateway Assets” to form a liquid price on the token pair to be traded.
Token Name: ABC
Ticker Symbol: ABCS
Used Blockchain: Ethereum ERC20
Industry: Banking/Financial Services
Accepting: ETH, BTC
Restricted areas: USA, Canada, Korea, Singapore, China