Last week, Coinrail, a cryptocurrency exchange based in South Korea, has been hacked resulting in a lost of cryptocurencies totaling as much as $40 million, which led to the Bitcoin's falling to its lowest level since February 5th. When the hacked centralized Exchanges become a new normal, the market is calling for a more secure platform: Decentralized Exchange.
While the negative news dominate the digital asset market, the former Architect of Huobi, Kenny Huang will active on June 22nd its decentralized Exchange - OneChain.
Kenny Huang has 20 years of R&D and management experience, as a senior architect at Huobi, he has extensive experience in natural language processing, mobile social networking, digital currency and Exchange, he is also early participant of Bitshares.
OneChain decentralized Exchange is only one of the four features of OneChain dapp, this dapp has integrated Super wallet, social media and Exchange, all these features have been realized and there are more than 533,250 users as the time of writing.
OneChain team has gained investments from top-notch investment institutions including Spectra Advisory, Dfund, Bamboo Capital, SFM Capital, ICON FUND and other investors.
OneChain's ecosystem is powered by ONE Tokens, which will be listed for trade at OneChain Exchange platform next Friday at 12:00 Singapore time: unlike other centralized exchange, OneChain decentralized Exchange has the three following features:
- It adopts the Bitshare's Graphene technology which is able to speed up the transaction to 20,000 TPS.
- Decentralized Exchange is far more secure than any centralized exchange, more resistant to malicious attack.
- OneChain has developed the multiple asset on cross-chain technology, it is similar with the openledger of Biteshare gateway, it is expected that at the beginning of 2019, the cross blockchain transaction will come true at OneChain Exchange.
OneChain exchange is a fully transparent trading platform, with disclosure of real-time assets and transaction data on the platform. To spur the transaction and build up a self-organizing ecology of OneChain's community, it adopts a transaction fee mining model and returns 100% of the user's the transaction fees by ONE tokens, moreover, 80% of the exchange's revenue will go to the holders of ONE token as dividend.
What is transaction fee mining?
OneChain Exchange will calculate the total amount of transaction fees occurred the current day and return the 100% of these fees to users as ONE tokens the next day.
***Current day: (transaction fee * 100%)/ the average price of ONE token = rewarded ONE tokens.
Note: the average price of ONE token = total transaction balance/total transaction volume
Referral rewards: every friend you invite, you will get additional rewards which equals to 20% of returned ONE tokens of your friend.***
For example:
Assuming that user A has conducted transactions at OneChain Exchange with $100 transaction fees, the average price (The highest price + the lowest price then divided by two)of ONE token on that day is $0.5, user B who was introduced by user A, has a transaction fee of $200, then the user A and user B's will respectively get a returning ONE tokens at the following trading day:
For user B: $200 * 100% / $0.5 = 400 ONE tokens
For user A: $100*100% / $0.5 +(user B tokens * 20%) = 200 +80 = 280 ONE tokens.
Crypto dividend
Crypto dividend, it is a separate wealth management feature integrated in our dapp. Whoever stores his idle ONE tokens in the Crypto dividend (at least 30,000 tokens), will receive daily dividend from the Exchange since the third day.
Total amount of dividend = total transaction fees of platform (total revenue) * 80%
Dividend for every Fenhong Bao participant: the amount of ONE tokens you stored in the pool / the total amount of ONE token in the Fenhong Bao pool * Total amount of dividend.
In a nutshell, if a user stores 10,000 ONE Tokens in Crypto dividend before midnight, the total amount of transaction fees at the platform on the second day is $10 000, there are 2,000,000 ONE tokens at the pool of Crypto dividend, therefore at the third day, this user will get a dividend of:
100 000 ÷ 2 000 000 x （10 000 x 0.8）= $400
Note: the dividend will be sent to user's account in the form of crypto currency, which means you may receive BTC, ETH, EOS or ONE, depending on the trading pairs exchanged at that specific day.
For further information, please visit official website: onechain.one.
Telegram: https://t.me/onechain1
To download the app: http://app.onechain.one/appstart_en.html