The goal of PlanetZiggurat is to bring assignments on the Ecex.Exchange trading platform, to create a market environment for exchange of assignment agreement.
The Whitepaper of Ecex.Exchange began with a lesson in Roman history, but we are not going to bore you with that. Instead, we’ll cut straight into the heart of things. Let you know what Excex.Exchange is all about.
In recent times, the financial service sector has become more electronic and online. While this is a great achievement, there is a small problem, it doesn’t offer the possibilities of trading with invoices, claims and factoring agreements, i.e. assignments and receivables.
Talking of receivables, an electronic platform was not created for them to be traded on. This is where PlanetZiggurat and Ecex.Exchange comes in. The goal of PlanetZiggurat is to bring assignments on the Ecex.Exchange trading platform, to create a market environment for exchange of assignment agreement.
The market system will have some similar features to the stocks market. These include transparency and instant transactions. It also allows the trading of claims and invoices from the moment they are being issued till the payment date.
The trading will continue until the goal is met or cancelled due to bankruptcy. However, the owner of the invoice or claim can delist his/her right any time he/she pleases.
Traders would like to make fast decisions and act just as quickly. To do this, they need access to relevant trading data, which is what Planet Ziggurat offers its users. Not only will leading brokerage firms and online brokerages have access to relevant information, they’ll also be connected to the new assignment markets.
Furthermore, all the transactions will be verified using blockchain technology, automatically eliminating the need for an intermediary. The whole ecosystem can be divided into two aspects. These are;
• Ecex.Exchange, the trading platform
• PlanetZiggurat, the token
PlanetZiggurat will not be made available to the whole planet yet, a test market would be in place first. Estonia being a small country with a relatively high ICT development is perfect for this purpose. The small test site allows the platform perfect a functional system that will be compatible with the European Union regulation.
In addition to this, the project will experience further development, which will make it possible to upscale in full range and functionality at a bigger market, in the nearest future.
The service offered by Ecex.Exchange, when observed from a legal point of view, is known as an assignment. What is an assignment, you ask? It is the process where the rights and obligations under an agreement are assigned to another person. This include their right to claim money and/or benefits owed to the assignor.
As such, there are three legal parties involved in this process. These are;
• The creditor (assignor, assignee)
• The debtor
• The trading platform (PlanetZiggurat, Ecex.Exchange)
Let’s explore these parties, shall we?
The creditor has the sole right of selling his claim whenever it pleases him or her. This can be done on Ecex.Exchange through a simple contract of assignment and other necessary documents.
Although the debtor can use Ecex.Exchange as a passive observer, there are other opportunities that individuals in this category can enjoy. One of such is making useful agreements that will help with payment deadlines, better cash flow and lower costs.
Also, debtors also have the right to issue debt. What does this mean, you ask? It means, he or she can sell the agreement with accessories to potential creditors and can finance himself or herself all the way.
There is a built-in monetization model in Ecex.Exchange which allows Ziggurats to be converted to fiat and vice versa. Please note that, you would have to pay a transaction fee on every withdrawal. This fee is expected to be a specified percentage in Ziggurat. That means, both the investor and assignor will be contributing to Ecex.Exchange’s revenue.
It begins with the investors bidding for an assignment to invest in, and ends the winner becoming the highest proposed price for the assignment. The whole process will take 24 hours.
The exchange serves as a platform where the creditors and debtors meet to negotiate agreements and exchange contracts. Ecex.Exchange provides a trading platform through the listing of instruments (claims, agreements and loans) and bids.
Like all things cryptocurrency, Ecex.Exchange depends on blockchain technology to attain their goals. There is a plan in place to integrate the trading platform and the depository with the external signing authority associated with the blockchain.
In summary, the technology that comes with this platform will include but not limited to,
• Integration with external payment systems
• Smart contract Integration and development works
• Integration with external systems to exchange info, e.g. brokerages
• Mobile applications
• Web-interface to online trading
Now, let’s delve a little deeper. This is all you need to know about the Ziggurat token sales.
The PlanetZiggurat token will be based on smart contracts running on Ethereum (ERC20 compliant) and will have a ticker name of ZIG. The total token supply is expected to be 531,000,000 ZIGS, with the goal being a maximum of $53 Million. There is no minimum capital goal.
Please note that tokens not sold during the event will be destroyed.
The initial price of the Ziggurat token is 0.0004561163 ETH for 1 ZIG. To make it easier for you to understand, that’s 1 ETH for 2400 ZIG. Here is how the token will be distributed;
Ten percent of the token will be allocated as Foundation, while 14 percent will be shared evenly between the Partners and Founders. The advisors will receive 6 percent and 4 percent will be reserved for bounty service. The remaining 66 percent will be made available for the token sales.
According to the whitepaper, does that purchased the token early will enjoy a specified amount of bonus. Bonus details is available in the whitepaper.
You won’t get the token immediately after purchase. There is a wait period of between 3 to 4 weeks after the token sale before distribution. Also, note that you’ll need to provide an ERC20 compatible wallet to receive your token.
Website: https://ico.ecex.exchange/
Whitepaper: https://ecex.exchange/whitepaper/WhitePaper.pdf
Twitter: https://twitter.com/PlanetZiggurat
Facebook: https://www.facebook.com/PlanetZiggurat/
Medium: https://medium.com/@PlanetZiggurat
Reddit: https://www.reddit.com/user/EcexExchange/
Telegram: https://t.me/ZigguratICO
ANN Thread: https://bitcointalk.org/index.php?topic=2464508
Authored by: gbenga88
Bitcointalk URL: https://bitcointalk.org/index.php?action=profile;u=1874687
Eth Address: 0xdcef7d27bbaae609accdaf43ccf41b042beaffb4
