Cryptonity came into existence with an idea to bring community and cryptocurrency together. The word ‘Cryptonity’ itself is formed from a combination of the words ‘crypto’ and ‘community’. It is an exchange that is inspired by its users’ need for money safety and thrives to emerge as a credible platform that is secure and transparent.
With an aim to develop a cryptocurrency exchange that is perfect for the users, here are a few important features that will make Cryptonity the first choice.
- Unmatched Security
The security mechanism on which Cryptonity stands ensures security functions at each step along the way. At the system level, the industry standard encryption protocol is implemented at data transfer layers. This is important to ensure that all user and sensitive data is stored using bank-level encryption. To carry out the sensitive operations like transaction or withdrawal, Cryptonity makes use of the multi-factor dynamic authentication to ensure there is no security breach.
On the operational level, special internal risk control is deployed along with dedicated operation process departments that keep a check on data operation and usage standards. A multi-level review ensures that all the online data is approved and core data is subject to desensitization.
To make sure that users’ funds are secure, the majority of funds (98%) are kept locked in a cold wallet and the rest 2% are used for daily liquidity.
- Exceptional Speed and Performance
With an order-making peak value of 1miilion+ per second and the order-processing peak value of 500k+ per second, the technology used by Cryptonity to meet the speed and performance requirements guarantees no delay or lag. Fast service with an assured uptime is the need of regular users as well as institutional traders. All this is achieved using the hardware-accelerated and highly-efficient memory matching technology. Therefore, when the market booms, the transactions take place instantaneously.
- Multi-Fiat Currency Support
Cryptonity offers support for multiple fiat currencies, the number of which will expand as the user base increases. Currently, the plan is to support the US dollar, Euro, and Yuan. The system will allow you to deposit or withdraw the fiat currencies using SEPA and International SWIFT bank transfer. However, you must note that fiat currency support might vary depending on the legal regulations of certain countries.
- Multilingual Support
At the initial release, Cryptonity will support English and Chinese for making user interaction easy. However, as the user base expands, more languages will be added keeping in mind the user comfort.
- Incredible Liquidity
For any exchange, liquidity is one of the most important features. Poor liquidity adversely affects the users and professional traders as shallow order book leads to high slippage in trading. Cryptonity exchange is equipped to have the necessary volume right from the beginning due to partnerships with strategic investors and liquidity providers.
- Wider Device Coverage
At Cryptonity, the aim is also to provide its users with comfortable trading experience. Therefore, it offers support for web-based trading, Android and iOS clients, Mobile HTML5 native clients, and REST API.
The Cryptonity ecosystem strives to reward its customers through a number of ways. It boasts of being a community-centric exchange and therefore, the goal is to emerge as a platform that puts its users’ interests at the top priority.
It is built on a combination of a few frameworks that will serve as the underlying technology. Here is a brief insight into how Cryptonity achieves its targets.
- Distributed revenue to ensure community benefit.
To uphold the transparency and community-centric approach, the Cryptonity exchange works on a distributed revenue model. According to this model, 50% of the revenue is redistributed to the community. This revenue is an incentive to the users for holding and accumulating Cryptonity token.
- Exchange Partner Program (EPP)
Under the EPP, any user who holds more than 100,000 CNEX tokens fulfills eligibility of being in partnership with Cryptonity directly. Once they become partners, they will have an opportunity to earn profits under our distributed revenue program. The revenue will be shared in these accounts on a pro-rata basis. For example, if there are 1,000 users who hold 100,000 CNEX tokens. So, depending on the present ETH-BTC pair rate of 0.027 on the platform and daily exchange volume of 3,000 BTC, at 0.1% rate from each side, each user will earn a daily bonus of 0.003BTC and 0.0111ETH. Similarly, there are other cryptocurrency pairs as well that work on the previously explained revenue sharing system.
- What is in it for the top 50 CNEX token holders?
A list of top 50 holders of CNEX tokens is made after confirming their identity through KYC. 20% of the total 50% revenue kept for the community will be shared among these 50 token holders.
They are entitled to some other benefits like:
- A free trading account for a lifetime.
- Refund of the fee paid by them for trading.
- Confirmed allocation in IEO’s on the Kickstarter platform bypassing the queue.
Quarterly Buyback and Burn Program to reduce token supply and increase the price.
A buyback and burn mechanism will be implemented to achieve a price hike and decrease the circulating supply. Every three months, 10% of the revenue collected by Cryptonity will be used to buy back the CNEX tokens, which will later be sent to a publically disclosed addressed and burnt permanently. This process will continue until the total supply comes down to 200 million, which is half the original supply.
- POS Wallets and Masternodes Pool to help customers earn rewards.
Cryptonity plans to create a pool system with a minimum number of required coins to benefit from Masternodes. Each user will earn on daily basis on prorate of the coins that he deposits in the pool. Similarly, POS wallets allow users to earn monthly dividends on the amount locked in.
- Users have the upper hand with Forks and Airdrops
The users will decide whether Cryptonity will support a fork or not through polls. Cryptonity Exchange is in process of developing a feature that will allow you to participate in airdrop and get the credit directly in Cryptonity Exchange account.
Cryptonity Exchange’s beta version will be soon available on the web platform and by the end of this year, it will be launched in its full capacity.
Sales for cryptonity token will be exclusive on cryptoadvice.com starting 1 June 2019 9:30 am UTC.
Read the details here.