The WandX project’s mission can be equated to bring Wall Street to the Ethereum blockchain. It is a decentralized financial platform that enables users transact directly with each other in crypto-assets.. Wandx ICO rating – not rated.
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Ended ICO : 22/10/17 – 21/11/17
About Wandx ICO (token sale)
As consumer appetite in various classes of assets have grown over the last half of the 20th century, methods to derisk a purchaser from speculative activity has evolved. An ideal example of the need for this derisking is the tulip mania that overtook modern day Netherlands in the 17th century. Similarly, purchasers of wine, paintings, property and stamps, are vexed with the question of how to ensure that pure speculation does not negatively affect the price of the asset that they are buying. Purchasers of cryptocurrencies face the same problem.
WandX seeks to establish an infrastructure for decentralized creation and trade of ERC20 Tokens built on the Ethereum blockchain. The pilot application allows users to create combinations of ERC20 Tokens (known as a Basket of Tokens) and trade the Basket by way of a single transaction.
Some of the problems that the WandX platform aims to solve are:
- How can users solve the problem that the price of any single ERC20 Token is higher than it ought to be, on account of speculation?
- How can users purchase multiple ERC20 Tokens in a single transaction?
- How can users not lose money even if there is a fall in the price of a single ERC20 Token?
- How can users increase the liquidity of single ERC20 tokens?
- How can users create and trade digital assets (such as loyalty points) recorded on a blockchain?
Many of these problems are currently being solved by centralized cryptocurrency exchanges and crypto-asset management platforms. Though popular and easy to use, many centralized exchanges and asset management platforms face problems with data security. They provide a centralized platform for blockchain assets, which by definition are meant to be decentralized. Other challenges faced by centralized exchanges and platforms include low liquidity thresholds and longer waiting periods for users to withdraw their funds from these exchanges.
WandX aims to solve the above problem by providing a decentralized platform that enables the creation and trade of Baskets of ERC20 Tokens through smart contracts.
- Users can trade in Baskets of ERC20 Tokens. Users can acquire multiple ERC20 Tokens with a single transaction. The WandX platform does not hold private keys or any Tokens.
- Innovative solutions to sell an ERC20 Token or Basket that is borrowed are being developed on WandX.
- WandX provides tools to create tokens that can be backed by a digital asset such as loyalty points, and these tokens can be traded on our platform. We are experimenting with a larger number of trades happening off-chain, and only record the trades happening on-chain.