To date, there is a huge number of many crypto-exchanges which are working for a relatively long time and managed to draw permanent users. Nevertheless, there are still new projects that can take their niche in this market. Today we will tell you about the CryptoSouk project, which set a goal to conquer the Middle East market.
A well-known fact is the legal potential of the region, in which the project seeks to become a leader, one of the most favorable for the development of detached technologies. For the current year, several exchanges targeting the countries of the Middle East have already been launched.
In view of the growing popularity of crypto-exchanges, many people began to withdraw large savings from their accounts in banks, which caused the latter to take a number of extreme measures to maximize the retention of funds.
A large problem for the development of decentralized technologies remains low liquidity. A large number of potential investors live in the region, however, many of them are forced to behave extremely cautiously on Krypto.
Many companies, such as ST Vincent & Grenadines and Kuwait, participated in the launch of the platform for crypto-currency trading CryptoSouk. The beginning of the exchange is planned from day to day. First of all, the team took care of creating conditions for trading in pairs with ETH, BTC, LTC, XRP, ZEC, DASH and XMR.
A big plus for the rapid development of CryptoSouk can be called the lack of language barriers – project staff can freely communicate with any customers. The company carries out a unique marketing strategy, which includes a solid regional experience, maintains channels of correspondence in Arabic.
Token
In total, the system conceived 52 million coins (SOUK). The project took as a basis the Ethereum platform and the ERC20 standard. The price of one SOUK coin is 50 US cents. You can buy coins for ETH. The lower fee is $ 1 million, the hard-cap campaign is $ 11 million. The project is banned in the US, China, Iran, Yemen and Syria.
PreICO. The period began on August 7, and will last a month. The price of one coin is $ 0.375.
ICO. Launch Date – September 24th 2018.
Distribution of tokens
– 1% allocated to Airdrop;
– 5% pool of funds allocated to Bounty;
– 20% of the funds will go into the reserve;
– 50% is allocated for sales;
– 24% team pool and advisers.
How will the collected funds be distributed?
– 40% pool of legal costs and licensing;
– 15% market liquidity;
– 20% allocated for marketing and community development;
– 25% of the funds allocated for product development.
Social networks
At the moment (August 9), the project is active in all the most popular societies. networks. In Telegram – 142 subscribers, Facebook – 2050, Twitter – 8063, Medium – 28, Reddit – 4400. The team pays much attention to the profile in bitcointalk – it is already a Hero Member level. There is also activity in Slack and Github.
Bounty
A total of 2.6 million SOUKs were allocated for the campaigns. They were launched on June 29, and will last until September 22. Distribute funds as follows:
– 20% allocated to subscription campaigns;
– 15% of the translation campaign;
– 15% project support pool in Facebook;
– 15% is allocated on Twitter;
– 10% Reddit pool;
– 15% support in Youtube;
– and another 10% of the funds will go to the blogosphere.
Roadmap
In the second quarter of the year an important contract was signed with partners from sunny Kuwait. In the third quarter, in addition to selling coins, the token will be listed on the stock exchange. By the end of the year, the project promises to register in Malta. By the end of next year, ADGM licensing will be conducted, mobile applications will be launched, and a beta version of the social platform will be launched.
Conclusion
In general, CryptoSouk project technologies are oriented to the world market; the team also guarantees us excellent transaction speed and high security, extensive trading opportunities. However, to date, the platform already has a number of serious competitors. However, the CryptoSouk team has a great potential for working in one of the richest regions of the world – the Middle East, than they are skillful and enjoy. Perhaps, after reaching an acceptable level in the region, the project will be able to quickly reach the world market.
Site: https://cryptosouk.io/
Whitepaper: https://cryptosouk.io/user/themes/custom-theme/pdf/en/whitepaper.pdf
Facebook:https://fb.me/CryptoSouk.io
Twitter: https://twitter.com/CryptoSouk
Reddit: https://www.reddit.com/r/CryptoSouk
Telegram: https://t.me/cryptosouk_community_en
Medium: https://medium.com/@cryptosouk
Linkedin: https://www.linkedin.com/company/cryptosouk/
Youtube: https://www.youtube.com/channel/UCLUcPnbxnzdyaeQzDxYyw1w/
Bitcointalk: https://bitcointalk.org/index.php?topic=4515317.msg40654837
Instagram: https://www.instagram.com/cryptosouk
Github: https://github.com/CryptoSouk
Author:
Bitcointalk username: Goldendragon67
Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1750295
