Asset Network Exchange is a crypto-to-fiat project that’s based in Estonia. The project serves their traders by giving them the first hybrid trading exchange. Users can choose from Decentralized and Centralized platforms they want to trade in.
The current cryptocurrency networks have a few issues behind them. For example, there is a major lack of fiat base exchanges on their platforms. AXNET is a Licensed Cryptocurrency Fiat Exchange that services their customers in USD, EUR, GBP, and other fiat currencies in the future.
The project lists pairs such as ETH, BTC, USDT, pairs with fiat pairs such as EUR and USD. The AXNET token is the core of this ecosystem, as it allows users exclusive discounts and enables them to participate in the trade mining system.
AXNET has a digital asset exchange that includes rechargeable addresses. Users benefit from this by being having their wallets in a decentralized interface – This process enables a peer-to-peer transaction.
What are the problems it is trying to solve?
Stability and Scaling :
Although the number of exchanges currently operating already is high, many of the more significant exchanges are giving their customers terrible experiences. Many crypto exchanges are created in a simple way, which causes problems when the volume on the platform increases. This can lead to laggy, slow-responding interfaces as well as downtime from time to time.
Security :
When it comes to exchanges, safety is most definitely the most important factor to analyze. Hacks in crypto exchanges seem like a never-ending occurrence, as hackers continuously find flaws in the exchanges that can be abused.
Most recently, the so-called “decentralized” cryptocurrency exchange Bancor lost 13.5 million USD due to a security breach.
Axnet claims that they are following the highest security standards to make sure that the exchange is 100% safe for all users.
Features of AXNET :
Financing Level Stability :
AXNET leverages on a bank disaster proof system that handles operational tasks such as the daily accounting. This offers stability in emergency situations such as natural disasters or hardware failures.
High-Performance Engine :
AXNET uses a memory matching engine that’s capable of handling 2 million orders and process 1 million transactions per second. We like this feature because it ensures no delay or lag when conducting a transaction on AXNET’s platform.
Operation Strategies :
AXNET is backed by a strong research and development team. Their team plans to create a prosperous future by creating a referral and invitation bonus for users. With this, they plan to accomplish their target of being one of the Top 10 active cryptocurrency exchanges worldwide.
Excellent Customer Service :
AXNET plans to have a 24/7 Customer Service platform that is highly responsive to the user’s inquiry. They aim to have a team that offers support in multiple communication platforms including email. Also, AXNET will have an automated system to ensure that every message is heard and responded to.
AXNET (AXN) token features :
Profit sharing :
Holders of the AXN token receives 50% of the total trading fees realized on the platform.
Trading Fee Discount :
Traders on the platform can use the AXN token to receive a 50% discount on their trades.
Buy-Back Mechanism :
20% of all net profit on the platform is going to be used to buy back AXN tokens. Bought tokens are going to be destroyed. This will continue until 500 million tokens (50% of the total supply) has been burned.
Exclusive rights :
Exclusive rights on the platform for AXN holders includes token voting, exclusive offers, membership discounts and more.
Decentralized Exchange :
The project has planned to develop decentralized exchange features where the AXN token is going to be used as the gas for running the system.
ICO Details :
Token : AXN
Platform : Ethereum
Token Price : 0.0005 ETH (0.225345 USD)
Token for sale : 100,000,000 AXN
Soft cap : 3,000,000 USD
Hard cap : 200,000,000 USD
Accepting : ETH, BTC, LTC, BCH, ZEC, XLM, ADA, EOS
Restricted countries : China, United States of America
Know Your Customer : Yes
Token Allocation :
70% (700 million) tokens are allocated for trade mining.
10% (100 million) of the total supply is set for the team and angel investors.
10% (100 million) tokens have been allocated for investors in the token sale.
10% (100 million) tokens have been allocated for Axnet operations.
Pros and Cons :
Positives :
Integration of FIAT bases :
Although there are loads of cryptocurrency exchanges on the internet, there is still a lack of exchanges that accept deposits and withdrawals of FIAT currencies. Axnet is going to feature FIAT currency to the exchange, starting off with EUR, GBP, and USD, and adding additional currencies in the future.
Centralized AND Decentralized :
Centralized and decentralized exchanges both have their positive and negative sides, and most people use both. Centralized exchanges are needed to deposit and withdraw fiat, while decentralized exchanges respect your anonymity and give you the control of your funds.
The Asset Exchange Network is going to feature both, and the user can quickly switch between the two.
EOS Exchange :
In addition to the centralized and decentralized exchange, an EOS token based exchange is set to launch Q3 2019.
Exchange Promotions :
To incentivize new customers to trade on the platform, Axnet has set a plan to launch a number of promotions to attract new customers. The exchange is going to use most of the exchange commision on promotions to reward active users of the platform.
Fast Exchange :
The trading system powering Axnet is capable of performing 2 million order creations per second and 1 million order executions per second. The efficient trading system ensures that the exchange will never suffer from delays in order processing or lag, no matter the volume.
ICO Incubator :
The exchange is going to include a module for ICO’s raising funds through the platform. Strategic partners of Axnet will be able to host their token sale through the exchange.
This will make the process of running an ICO easier for the host, as Axnet takes care of regulations, compliance, escrow as well as due diligence. After the ICO, the token will get a prioritized listing on the exchange.
70% of AXN Go Back To The Users :
Axnet is going to distribute 70% (700 million) of the total supply of Axnet tokens to their users. This is called trade mining, the more a user trades, the more significant the share he will receive from the “mining blocks.”
Conclusion :
The number of cryptocurrency exchanges is rising fast, and there is a huge amount of ICO’s going on that features exchanges that wants to gain a foothold in the market. The reality is that there is no space for all of them.
Axnet has set a goal of becoming one of the top ten most active cryptocurrency exchanges worldwide. With the fierce competition and huge number of competitors, this seems highly unlikely. The exchange platform still has a good chance of becoming a popular cryptocurrency exchange, as the exchange offers a number of innovative solutions. Examples of this are the combined centralized and decentralized exchange, a future EOS exchange module as well as a trade mining system where 70% of all trade fees on the platform go back to the user and more, which can be efficient to bring volume to the exchange.
