ParamountDax is presented on the market as a crypto-crypto-crypto-fiat trading platform, this is guaranteed by the fact that even before the official launch, this exchange has already received licenses for direct crypto-fiat exchange and the right to provide services related to the PRDX TOKEN wallet
Like any ICO, respect for a startup’s fundraising is through the sale of a token. In this case, ParamountDax launched the PRDX token, the current value of which is 0.15. The decisive factor that draws the line between bankruptcy projects and potentially important projects is the “provision” of their token with a key function in the project. PRDX refers to the second case, since it will be very convenient to store a certain amount of this token on the exchange (based on the capital that you can afford to invest) ParamountDax, in fact, decided to follow in the footsteps of exchanging Binance and KuCoin calibers, as it “rewards” the owners tokens due to discounts on trading fees and daily PRDX rewards.
Like any ICO, respect for a startup’s fundraising is through the sale of a token. In this case, ParamountDax launched the PRDX token, the current value of which is 0.15. The decisive factor that draws the line between bankruptcy projects and potentially important projects is the “provision” of their token with a key function in the project. PRDX refers to the second case, since it will be very convenient to store a certain amount of this token on the exchange (based on the capital that you can afford to invest) ParamountDax, in fact, decided to follow in the footsteps of exchanging Binance and KuCoin calibers, as it “rewards” the owners tokens due to discounts on trading fees and daily PRDX rewards.
Trading fees The
trading fees in ParamountDax are as follows: 0.12% for Maker orders and 0.25% for Taker orders (the definition of Maker and Taker can be found here. For PRDX owners, the discounts on fees follow this simple table: Daily reward
ParamountDax is definitely a feature daily dividend distribution mechanism for PRDX holders: These dividends come from daily trading fees, and ParamountDax reserves 46% of this amount to divide it among PRDX holders, as shown in the following table. As you can see, there are 4 different groups in the first place : silver, gold, platinum and black, divided according to the amount of PRDX owned by one investor (second column).
The third column shows how the percentage of trading fees are distributed among different groups. For Silver Line, 25% of daily fees are reserved, but it will also be divided into 3 other groups. Gold Line will have a total stake of 25% and an additional 10%, which will be shared only with Platinum and Black Line. The platinum line will have a share of 25 and 10% plus 7%, which will be shared only with blacks; therefore, the latter will have all the percentages divided by the previous groups, plus 4%, which he will not share with anyone.
I understand that this is not easy, so I give an example in the Whitepaper project
trading fees in ParamountDax are as follows: 0.12% for Maker orders and 0.25% for Taker orders (the definition of Maker and Taker can be found here. For PRDX owners, the discounts on fees follow this simple table: Daily reward
ParamountDax is definitely a feature daily dividend distribution mechanism for PRDX holders: These dividends come from daily trading fees, and ParamountDax reserves 46% of this amount to divide it among PRDX holders, as shown in the following table. As you can see, there are 4 different groups in the first place : silver, gold, platinum and black, divided according to the amount of PRDX owned by one investor (second column).
The third column shows how the percentage of trading fees are distributed among different groups. For Silver Line, 25% of daily fees are reserved, but it will also be divided into 3 other groups. Gold Line will have a total stake of 25% and an additional 10%, which will be shared only with Platinum and Black Line. The platinum line will have a share of 25 and 10% plus 7%, which will be shared only with blacks; therefore, the latter will have all the percentages divided by the previous groups, plus 4%, which he will not share with anyone.
I understand that this is not easy, so I give an example in the Whitepaper project
Suppose the daily volume is $ 5,000,000; the
total amount of the commission will be: 5,000,000 x 0.37% (0.25% fraudster 0.12% maker) 18,500
we remove the maximum for discounts on trade commissions (first table): 18,500 25% 13.875 The total amount reserved for a daily reward is: 13.875 46% 6.382
Now let’s calculate the number of PRDX tokens reserved for each group, taking into account the current value of the token 0.15:
total amount of the commission will be: 5,000,000 x 0.37% (0.25% fraudster 0.12% maker) 18,500
we remove the maximum for discounts on trade commissions (first table): 18,500 25% 13.875 The total amount reserved for a daily reward is: 13.875 46% 6.382
Now let’s calculate the number of PRDX tokens reserved for each group, taking into account the current value of the token 0.15:
Silver line: 13.875 25% $ 3.468, which corresponds to 23.120 PRDX
Gold line: 13.875 10% 1.387, which corresponds to 9.246 PRDX
Platinum line: 13.875 7% 971 which corresponds to 6.473 PRDX
Black line: 13.875 4% 555 which corresponds to 3700 PRDX
Silver line will share PRDX 23.120 with the other 3 groups (23.120: 4 5780 PRDX), Gold will share PRDX 9.246 with platinum and a black line, then 9.246: 3 3.082 PRDX. Platinum shares 6,473 PRDX with the black line, for which 6,473: 2 3,236, while the black line will have 3,700 PRDX in full.
The total number of PRDX that will fall into different groups:
Gold line: 13.875 10% 1.387, which corresponds to 9.246 PRDX
Platinum line: 13.875 7% 971 which corresponds to 6.473 PRDX
Black line: 13.875 4% 555 which corresponds to 3700 PRDX
Silver line will share PRDX 23.120 with the other 3 groups (23.120: 4 5780 PRDX), Gold will share PRDX 9.246 with platinum and a black line, then 9.246: 3 3.082 PRDX. Platinum shares 6,473 PRDX with the black line, for which 6,473: 2 3,236, while the black line will have 3,700 PRDX in full.
The total number of PRDX that will fall into different groups:
Silver line: 5.780 PDRX
Gold line: 5.780 3.082 8.862 PRDX
Platinum line: 5.780 3.082 3.236 12.098 PRDX
Black line: 5.780 3.082 3.236 3.700 9.798 PRDX
Then PramountDax will determine how many PRDX are present in the various groups.
Gold line: 5.780 3.082 8.862 PRDX
Platinum line: 5.780 3.082 3.236 12.098 PRDX
Black line: 5.780 3.082 3.236 3.700 9.798 PRDX
Then PramountDax will determine how many PRDX are present in the various groups.
Assuming that:
Silver Line has 35,000,000 PRDX tokens;
Gold Line has 20,000,000 PRDX tokens
in the platinum line; 15,000,000 PRDX tokens
on the Black Line; 10,000,000 PRDX tokens
The reward for each token will be:
Gold Line has 20,000,000 PRDX tokens
in the platinum line; 15,000,000 PRDX tokens
on the Black Line; 10,000,000 PRDX tokens
The reward for each token will be:
for Silver Line 5.780: 35.000.000 0.000165 PRDX
for the gold line 8 862: 20 000 000 0 000443 PRDX
for the Platinum Line 12.098: 15.000.000 0.000806 PRDX
for the black line 15 798: 10 000 000 0.001579 PRDX
For the total reward, multiply the reward by the number of PRDX held, for example:
for the gold line 8 862: 20 000 000 0 000443 PRDX
for the Platinum Line 12.098: 15.000.000 0.000806 PRDX
for the black line 15 798: 10 000 000 0.001579 PRDX
For the total reward, multiply the reward by the number of PRDX held, for example:
for 5000 PRDX (Silver Line) the reward will be: 5000 x 0.000165 0.825 PDRX (0.12 dollars per day).
owning 13,000 PRDX (Gold Line), the reward will be: 13,000 x 0 000443 5,759 PRDX 0.86 per day)
owning 30,000 PRDX (Platinum Line), the reward will be: 30,000 x 0 000806 24.18 PRDX 3.6 per day)
for 60,000 PRDX (black line) the reward will be: 60,000 x 0.001579 94.74 PRDX 14.2 per day)
We understand how, by changing the daily volumes and cost of the token, even daily rewards change.
This reward system will surpass the current KuCoin system, which takes 50% of daily fees and distributes the reward for each token owned, equal to all.
owning 13,000 PRDX (Gold Line), the reward will be: 13,000 x 0 000443 5,759 PRDX 0.86 per day)
owning 30,000 PRDX (Platinum Line), the reward will be: 30,000 x 0 000806 24.18 PRDX 3.6 per day)
for 60,000 PRDX (black line) the reward will be: 60,000 x 0.001579 94.74 PRDX 14.2 per day)
We understand how, by changing the daily volumes and cost of the token, even daily rewards change.
This reward system will surpass the current KuCoin system, which takes 50% of daily fees and distributes the reward for each token owned, equal to all.
Other strengths of the project:
The strengths of this project include: a pool of liquidity, trading with a chart, insurance against hacking and support for the OTC market (without a prescription). Let’s analyze them one by one.
The strengths of this project include: a pool of liquidity, trading with a chart, insurance against hacking and support for the OTC market (without a prescription). Let’s analyze them one by one.
Liquidity pool
One of the biggest problems for exchanges, especially in the first period after launch, is liquidity, an important parameter that allows users to trade in a short time. ParamountDax solved this problem by guaranteeing a collective liquidity pool, which consists of an order book shared by various exchanges.
One of the biggest problems for exchanges, especially in the first period after launch, is liquidity, an important parameter that allows users to trade in a short time. ParamountDax solved this problem by guaranteeing a collective liquidity pool, which consists of an order book shared by various exchanges.
Trading with Charts (TFC)
A tool that is certainly innovative in the world is the exchange of criptovalute trading from a chart. This type of trading is one of the characteristics of MetaTrader, one of the most popular Forex trading platforms in the world. Thanks to this function, you can open / close positions, set or move stop loss / take profit, simply by clicking on the chart. This is another factor that sets PramountDax apart from other exchanges.
A tool that is certainly innovative in the world is the exchange of criptovalute trading from a chart. This type of trading is one of the characteristics of MetaTrader, one of the most popular Forex trading platforms in the world. Thanks to this function, you can open / close positions, set or move stop loss / take profit, simply by clicking on the chart. This is another factor that sets PramountDax apart from other exchanges.
Hack insurance
Exchange should primarily guarantee a good level of security for users. Many traders saw the exchange emptying their funds due to hacker attacks. No exchange can be considered safe, just think that Binance (№1 exchange in the world) was stolen from 7000 BTC after hacking. Binance in this case turned out to be a serious exchange and, thanks to the fund, which was created independently, guaranteed to return to its users everything that was stolen from them.
ParamountDax wants to adhere to the same position and immediately decided to insure itself against possible hackers who attacked employees of the same company for errors. If 9,310,000 dollars are collected during the ICO, ParamountDax will receive insurance with BitGo, which will cover the amount of $ 100,000,000.
Exchange should primarily guarantee a good level of security for users. Many traders saw the exchange emptying their funds due to hacker attacks. No exchange can be considered safe, just think that Binance (№1 exchange in the world) was stolen from 7000 BTC after hacking. Binance in this case turned out to be a serious exchange and, thanks to the fund, which was created independently, guaranteed to return to its users everything that was stolen from them.
ParamountDax wants to adhere to the same position and immediately decided to insure itself against possible hackers who attacked employees of the same company for errors. If 9,310,000 dollars are collected during the ICO, ParamountDax will receive insurance with BitGo, which will cover the amount of $ 100,000,000.
OTC Market (OTC) The
OTC market is increasingly used in the Bitcoin market, especially by large investors. This is a market in which negotiations take place outside the exchange, and the price is determined based on the supply and demand of the two parties.
ParamountDax also implemented this feature, providing a platform for over-the-counter negotiations. Obviously, not everyone will be able to use this service, but only those who have passed KYC (identity verification) and have at least 5000 PRDX tokens. The fees for this market are 0.5%. Thus, ParamountDax also allows those who are not a “big whale” to take advantage of the OTC market: at the current exchange rate with an investment of $ 750, you may be entitled to trade in the OTC market.
OTC market is increasingly used in the Bitcoin market, especially by large investors. This is a market in which negotiations take place outside the exchange, and the price is determined based on the supply and demand of the two parties.
ParamountDax also implemented this feature, providing a platform for over-the-counter negotiations. Obviously, not everyone will be able to use this service, but only those who have passed KYC (identity verification) and have at least 5000 PRDX tokens. The fees for this market are 0.5%. Thus, ParamountDax also allows those who are not a “big whale” to take advantage of the OTC market: at the current exchange rate with an investment of $ 750, you may be entitled to trade in the OTC market.
ICO: details
I already mentioned that the ICO started on May 18 and will end on September 23, 2019.
This period will be divided into 3 parts:
I already mentioned that the ICO started on May 18 and will end on September 23, 2019.
This period will be divided into 3 parts:
Pre-sale period: from 18/05 to 23/06 and the one who buys the PRDX token will receive a 32% bonus.
Sale period: from 24/06 to 19/08 with a 12% bonus.
Private sales: a period devoted to institutional and selected investors ( 35% bonus) The
initial price, as already mentioned, is $ 0.15 per PRDX token, and the minimum purchase is 500 PRDX ($ 75). Tokens not sold during the ICO will be burned.
The buyback and incineration policy is very interesting. The initial total supply is 100,000,000 PRDX tokens, which will constantly burn to a total of 65,000,000 tokens: this deflationary maneuver will increase the value of PRDX. The buyback and recording process will begin on 03/30/2020, and each quarter PramountDax will use 5–10% of net profit to record PRDX tokens. Below is a summary table.
Sale period: from 24/06 to 19/08 with a 12% bonus.
Private sales: a period devoted to institutional and selected investors ( 35% bonus) The
initial price, as already mentioned, is $ 0.15 per PRDX token, and the minimum purchase is 500 PRDX ($ 75). Tokens not sold during the ICO will be burned.
The buyback and incineration policy is very interesting. The initial total supply is 100,000,000 PRDX tokens, which will constantly burn to a total of 65,000,000 tokens: this deflationary maneuver will increase the value of PRDX. The buyback and recording process will begin on 03/30/2020, and each quarter PramountDax will use 5–10% of net profit to record PRDX tokens. Below is a summary table.
NOU
In recent days, in the Telegram group, the team announced that, in addition to conducting an ICO, IEO will be launched in late June (click here if you want to deepen the topic) on 2–3 leading exchanges.
The names of these exchanges have not yet been disclosed, since there is still no official status, but the fact that the team has revealed itself in this way means that the agreements are at an advanced stage. In addition, it was again announced by telegram that the exchanges in which PRDX will be listed are among the top 30 and 20 in the world.
In recent days, in the Telegram group, the team announced that, in addition to conducting an ICO, IEO will be launched in late June (click here if you want to deepen the topic) on 2–3 leading exchanges.
The names of these exchanges have not yet been disclosed, since there is still no official status, but the fact that the team has revealed itself in this way means that the agreements are at an advanced stage. In addition, it was again announced by telegram that the exchanges in which PRDX will be listed are among the top 30 and 20 in the world.
Details:
Website: https://www.paramountdax.io/
ANN: https://bitcointalk.org/index.php?topic=5137789.0
White paper: https://www.paramountdax.io/whitepaper.pdf
Twitter: https://twitter.com/ParamountDax
Facebook: https://www.facebook.com/Paramountdax-2024636494500768/
Telegram: https://t.me/ParamountDaxICO
Website: https://www.paramountdax.io/
ANN: https://bitcointalk.org/index.php?topic=5137789.0
White paper: https://www.paramountdax.io/whitepaper.pdf
Twitter: https://twitter.com/ParamountDax
Facebook: https://www.facebook.com/Paramountdax-2024636494500768/
Telegram: https://t.me/ParamountDaxICO
Authors: Loksyun
My Profile Bitcointalk : https://bitcointalk.org/index.php?action=profile;u=1886140;sa=summary
My ETH: 0xd0d8c8e966efC43d681a33f2536fD44AfDf8c827
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