It's a common knowledge in the industry that average investor's always has difficulty in making use of decentralized exchange platform for the trading of digital assets. Most of all these DEXs are not highly scalable and very slow in executing an order. This is what Ethershift team take a look at and they plan to change with their own innovative concepts. As it is indicated on the their website, they let us know that the buying process for new and upcoming ERC20 tokens will be much more easier that it has ever been and Ethershift will be the future of ERC20 tokens trading.
What is Ethershift?
Ethershift is a platform committed in given average investors or traders an easy and scalable exchange service for ERC20 tokens at their current market rates without any extra fees. The users of the platform will no longer needs to go through the stress of registry on exchange, they don't also need to learn how to use decentralized exchange platforms like IDEX and Bancor. Though these DEX platforms are unique and innovative in their own way but the truth is that an average Crypto traders finds them very difficult to use. In reality, there are many new projects out there that are struggling to get the kind of exposure that will bull run their project. Ethershift will make it possible for them by creating a flexible platform that will not need to collect users data nor mandate users to register for an account, Ethershift is also a platform that does not require KYC from its users and they make the process of getting new incoming tokens very easy for all.
Traders will be able to get these tokens by making use of ICOs Scan & Go features of the platform. A widget will display a QR code of the token that you want to buy. After seeing the QR code, the next thing for you to do is to scan it and the amount of ETH that you are willing to buy. After doing this simple task, you will receive the token that you paid for in few minutes. Any smartphone user will be able to install ICOs Scan & Go app on the website in an affiliate program that could also earn them Ethershift token.
How It Works
For you to exchange a token, you will need to send its equivalent value to an address that shows the exact token that you want to buy. After sending it, the value of the token will then be sent back to the wallet address that you used in sending out your Ethereum. To bring this to reality, Ethershift make use of hot wallets which will be able to mirrors the trade on an exchange. Ethershift take a part of the profits in the form of the token inputed and the output token so as to account for risk of exchange rate.
The platform token will represent 50% of the gross profit of their service and in every three months, halve of that profit will go into buy back of Ethershift Tokens which will then be burnt. Third parties will also be able to integrate the Ethershift API into their systems for 50% of the profits.
Ethershift Tokens
As I have indicated before, Ethershift token is an ERC20 token and it will makes 50% of the gross fee collected by the platform. Furthermore, all transactions with the product of the platform will yield a fee of 5%. The system is built in a way that it will be able to do the calculations and divide it between two wallets. The first wallet deals with salaries, legal fees and operating costs while the other is used to buy back the tokens.
For further increases of the token value, the team has a plan of buying it back from exchanges to burn them in order to reduce the total supply. The process of burning will be by sending to an invalid address in a public and blockchain-verifiable process which will be fully accessible to all. The first burn will be by March, 2019.
Ethershift ICO Details
Name: Ethershift
Smart Contract: ERC20
Start – End: Stage 1 – 5th – 18th November, Stage 2 – 3rd December – 16th December 2018
Hard Cap: Presale: 2,500 ETH (sold out) Main Sale Stage 1 – 6,250 ETH Stage 2 – 25,000 Eth
Token Supply: 15 000 000
Unsold Tokens: Burned by smart contract
Token Price: 0.0025 ETH (During the first stage of the main sale)
Ethershift Conclusion
The idea of a creating a decentralized exchange is not new in the industry. We have seen and even used many decentralized exchange platforms. The issue about them is that they are too very slow and also not easy to use. So, many traders don't always use them. If Ethershift can fully implement their plans, they will be able to create a platform with decentralized exchange model that is fast and very easy to use.
