Website: http://www.kubitx.io/
The ideation process behind KuBitX was undertaken keeping in mind the broader vision to educate, enable and engage people from emerging markets in the cryptocurrency ecosystem. The technological development that has taken shape since the dawn of the Internet era has been top-down, i.e., from the developed nations towards the developing nations. This has created a gap in the overall development process thus compelling people from the emerging markets following the trail of development rather than being active contributors in shaping the process. KuBitX aims to leverage the emerging tech-nology to move forward in the vision and mission that we have.
The broader areas upon which the vision of KuBitX has a focus upon are:
1.Education about Blockchain technology enhancing adoption by masses – KuBitX has come up with a unique initiative called Global Channel Ambassadors to en-ter, understand and capture local emerging markets. We aim to tackle the socio-economic hindrances to adoption. The KuBitX Global Ambassador Initiative will reach the grassroots to drive local adoption.
2.Liquidity improvement – Liquidity is one of the most important pillars of any ex-change that exists. Many exchanges today suffer from a liquidity crunch leaving users stranded with their currencies. To tackle this, we plan to involve market makers to build sustainable volume on the exchange, reducing cost of transac-tions and simplifying the complete process. To avoid wash trading, we have Anti Market Manipulation (AMM) tool on the platform. Market surveillance, supervision and compliance are being looked into very carefully. The admin can choose to freeze an account associated with suspicious trading.
3.Robust Security – Security is one of the most crucial pillars surrounding a crypto-currency exchange. We at KuBitX do take the security of the whole platform very seriously. Hereby, we not only are developing our own exchange system secure but also plan to make users aware of various frauds and hacks going on in the market. Following are the security measures taken by the team:
4.Financial Inclusion – The emerging markets today especially in Africa and Asia suffer from a large chunk of their population being out of reach of the traditional banking system. Banks become controllers but here the person becomes the controller because P2P transactions are possible through their phones. The phi-losophy of the Blockchain era is excluding the third party and use P2P transac-tions. Africa has large amount of unbanked people hence KuBitX will educate people how to take advantage of Blockchain philosophy thus enhancing financial inclusion.
5.Economic development of the emerging markets – On a macro level, the emerg-ing markets like Africa experience from low GDP rates, high inflation and generally poor economic growth. KuBitX with extensive strategic partnerships with the private and public sector, have designed an institutional investment plugin on the KuBitX engine to enable a higher volume of crypto trading and tra-ditional capital trading functionalities. For instance, Zimbabwe uses a legal tender which is not native to their country thereby creating a negative impact on all as-pects of their economy. KuBitX will be creating opportunities for a digital econo-my thereby allowing each nation to run its own economy and giving it an oppor-tunity to play in the global market.
Vision is one of collective growth for all market participants, both our customers and the KuBitX ecosystem, thereby contributing our share to the growth of the market itself.
Our strategic partnerships with banks and payment providers are helping us to create a full-service financial institution with cryptocurrency integration. This entity will provide all of the traditional banking services and more:
Additional service offerings:
Users will have the ability to link their cryptocurrency trading accounts directly with their financial services account. This creates a comprehensive account equipped to interact seamlessly with the emerging digital currency economy.
The KuBitX digital currency trading platform will be directly integrated with its financial services providers, allowing users a seamless experience when managing their ac-counts and buying/selling digital currencies and tokens.
Developers can design and build their applications knowing they will have no problem opening a financial services account for their business. Merchant processing will be available allowing them to convert digital and fiat currencies into any payment form they desire.
The KuBitX business model consists of revenue streams coming from commissions on market trading and management fee. This section will detail how the revenue stream and KuBitcoin (KBX) tokens have been integrated into the system, giving an idea as to how the KuBitcoin (KBX) token holders will be rewarded.
1.25 % discount on using the KuBitcoin (KBX) token – KuBitcoin (KBX) tokens have the utility of acting as a method of payment for the trading fee. Plus, the us-ers opting to use KuBitcoin (KBX) tokens as a method of payment of the trading fee will get a discount of 25% compared to the original trading charges. If the trade receivable is NEO, we will calculate it by the exchange ratio of NEO to KBX at the market price, which is based on the market price of NEO / BTC and KBX / BTC. Exchange ratio of NEO/KBX = NEO/BTC [market price] / (KBX/BTC [market price]). KuBitX update cycle for the market price is 1 second Suppose user needs to buy 1 Bitcoin
2.Payment processing fee - KuBitX will offer direct withdrawal to the bank account of a user requesting liquidity in fiat by enabling them to exchange KuBitcoin (KBX) tokens for Fiat on the levy of a Payment Processing fee of 2.5%.
KuBitX will issue a fixed supply of 500,000,000 KuBitcoin (KBX) tokens which are based on the ERC-20 standard. The reasons for choosing ERC-20 tokens are the present fa-miliarity of the market with this standard plus the stability of Ethereum Blockchain.
15% of team tokens will be released after three months from the end of public round of TGE, 85% of team tokens will be locked for 2 years after which there will be gradual re-lease of the tokens over a period of another 2 years.
CONTRIBUTE TO TGE: https://dashboard.kubitx.io/
The KuBitX Exchange is designed to operate at low latency, high throughput, and max-imum uptime. By incorporating geo-replication in its architecture, the exchange is built to be fault tolerant, ensuring that the platform delivers a seamless and uninterrupted trad-ing experience to its users. Below is a high-level abstraction of the exchange architec-ture showing how the different systems within the exchange are connected logically.
ADVANCED APIS AND FINANCIAL INTEGRATION
KuBitX’s advanced APIs promise to give the users a hassle-free trading experience. It will allow them to get connected to FIX, Rest, Binary, WebSocket, and third-party cus-tom APIs. This architectural design will also enable integration with banking, payment gateways, and settlement.
EFFICIENCY AND PERFORMANCE
KuBitX’s market exchange trading platform is a proven fast, high-volume and low-latency exchange engine. This exchange platform will be hosted on high availability IT infrastructure, thus, enabling fault-tolerant architecture with guaranteed 99.995 percent uptime. In order to provide a fault-tolerant architecture, a standby instance setup has been planned with active data replication. This standby instance will start as an active instance, in case the primary exchange goes down due to any reason. Active geo-replication will provide database redundancy and a low-latency platform for the end-users. Geo-targeted load-balanced environment for the trading front-end has also been planned for deployment. A high-level exchange and infrastructure diagram below indi-cates the planned setup of the platform. KuBitX has come up with a Trade Engine which delivers a speed of 12 Million plus transactions per second with a latency of 40-50 ns.
KuBitX has identified and reviewed the industry best practices in terms of security measures and designed our platform to include top-level security features to safeguard both the client’s funds and trading operations from hostile penetration attempts. Some of the key security fea-tures include:
CONTRIBUTE TO TGE: https://dashboard.kubitx.io/
Website: http://www.kubitx.io/
Whitepaper: https://kubitx.io/KuBitX_Whitepaper_v1.1_En.pdf
Facebook: https://www.facebook.com/kubitx/
Telegram: https://t.me/kubitx_official
Twitter: https://twitter.com/kubitx
Reddit: https://www.reddit.com/r/KubitX/
Medium: https://medium.com/@kubitx
Linkedin: https://www.linkedin.com/company/kubitx-exchange/
Youtube: https://www.youtube.com/channel/UCm6o0xRXXlrPR0-OqcBwXOA
Bitcointalk ANN thread: https://bitcointalk.org/index.php?topic=4628365
CONTRIBUTE TO TGE: https://dashboard.kubitx.io/
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The bitcointalk name: mreretic
Profile links : https://bitcointalk.org/index.php?action=profile;u=1716487
