Sobit - a community based cryptocurrency exchange

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Sobit is a Blockchain based decentralized digital asset trading platform which allows its users to participate, create value and secure the benefits of it under the community driven platform. This trading platform is structured with the user as its pivotal point which ensures that the user will create a value and will all reap all the benefits of this decentralized platform.

Sobit is the first user-owned digital assets exchange. It features user shareholding, trans-fee mining and community autonomy, Sobit is dedicated to instituting a brand new ecological system in the blockchain industry. SBT which is the standard issued token by Sobit, is a proof of all rights to the Sobit platform, with a total amount of 10 billion and no future offering.

The Problem

The main problem faced in the cryptocurrency market is in the case of the traditional trading system with flaws such as high transaction costs, lower efficiency and really insecure data storage which are normally common in centralized institutions.

Sobit’s Solution

Sobit proposes to establish a decentralized trading platform by stipulating peer-to-peer transactions, coordination and cooperation in a distributed system that trusts each other which solves the problems mentioned previously.

Sobit’s key features

Sobit focuses primarily on trans-fee Mining, community awards and institutional private placements. Some of the key features on the platform include:

Shareholding and community autonomy – quasi-equity rights are bestowed to users who hold a number of SBT tokens. Quasi equity comes up where a debt has some attributes of equity or in other words a non-legal equity. The quasi-equity rights include receiving dividends, voting rights, right to know etc.
Dividend – If a user holds a certain amount of SBT which accounts for 1% value of the total circulating supply, then the user gets 1% dividend on the amount of profit made. For example, on a profit of 200 BTC the user will receive 2 BTC.
Rights & Obligations – here, users get quasi-equity rights by holding SBT tokens. Users who happen to hold less than 1000 SBT tokens don’t get to enjoy any rights whereas users who hold between 1000 to 20,000 tokens get to enjoy only dividend rights. Lastly users who hold more than 20,000 SBT tokens get all types of quasi-equity rights to enjoy as well as additional premium tools.
Community Autonomy – Sobit institutes a community platform where community reward funds and related services are being allocated to the community. The developers, teams and individuals are rewarded based on their contributions to the community.
Trans-fee Mining – This is a brilliant provision the platform provides, where users get 80% of their transaction fees in the form of SBT tokens. The amount allotted to users from the trans-fee mining will be allocated based on the total amount of the circulating supply.

Here’s what makes the Sobit platform unique

It is a community based exchange – while acknowledging the importance of community, the sobit platform gives every user the right to make a decision in the day-to-day activities of the exchange. Giving participants opportunity to be major stakeholders will incite them to make excellent decisions that will guarantee the future growth of the exchange.
It is a relatively optimized exchange – exhibiting a high speed and highly scalable matching engine technology adapted to process up to 2million orders per second, the platform will establish an optimized and impressive trading experience, free from interruption during large order executions, hence drawing attention to institutional high frequency traders.
It is highly secured – security has been no doubt been one of the major obstacles inhibiting the development of crypto markets in recent years due to relentless attacks on cryptocurrency exchanges. These unfortunate incidents have inhibited the investment drive of market participants, subsequently drying out the liquidity pool in the sector. Conversely, having acknowledged the security gaps in crypto exchanges, the Sobit platform has devised optimum level security features including load balancing, Cloud-based DDos firewall, unusual activity alarm trigger, multiple exchange audits, offline wallets storage and robust encryption system to protect both the trader’s funds and trading operations from attackers.