In the popular Chinese game Go, at the end of the game players retroactively review their moves, examining mistakes and determining correct plays in order to increase their skills for the next game.
Competition amongst blockchain projects is currently as fierce as it gets. Fluctuating cryptocurrency prices have effectively disallowed speculative investing. Looking forward, everyone would do well to examine their past moves.
Statistics indicate that there are currently in excess of one thousand digital asset exchanges in the world, and the competition for this space is as chaotic as it gets. Naturally, the business model of these exchanges has also seen a number of different iterations.
Looking to capitalize on the crypto-mania, exchanges charge transaction and withdrawal fees to both buyers and sellers, on top of exorbitant listing fees for projects looking to expand their market and reach. Certain exchanges utilize a ‘trading as mining’ model in an attempt to increase user volume. With such models failing to effectuate real improvement, many are left wondering: what’s next?
DeepToken Exchange‘s esteemed founding team has extensively reviewed and analyzed the cryptocurrency exchange market in order to identify areas in dire need of optimization and innovation. Rather than a shotgun spread approach to listing and service in use by existing exchanges, wherein any and all projects are given the green light provided they pay the excessive fees, DeepToken Exchange tailors its range of services to the specificities of AI projects exclusively, focusing on those that fit the parameters of real promise and potential.
The unspoken rule in the exchange space has become to charge projects huge listing fees. In particular, for those exchanges with the highest trading volume and user traffic, the sky’s the limit for how much they can charge projects looking for listing; ranging anywhere from a few million to tens of millions.
These price ceilings put serious limitations on the ability for startup blockchain projects to secure the requisite funding for development. They are trapped in a paradox of requiring listing for funding, but being unable to pay the fees required in order to achieve said funding.
DeepToken Exchange looks to break the cycle with its innovative new exchange, operating on principles of openness, fairness, transparency and permanently no listing fees. DeepToken Exchange’s operating model is ‘focused exchange + no listing fees ever’, standing apart from the crowd of the existing market.
DeepToken Exchange implements an innovative new ‘voting as mining’ business model, the crux of this model being to locate quality digital assets within the AI industry.
The number of tradable cryptocurrencies in the world exceeds 3,000, with huge variations in the quality of projects. DeepToken Exchange’s new method circumvents Gresham’s law (bad money drives out good), selecting only the most promising AI projects with real-world application potential, a mutually beneficial process which also protects investors.
In the first 3 months of DeepToken being live, it will list once per week as decided upon via the voting mechanism. After 3 months, the frequency and amount of projects listed will depend on the number of applications received. Voters will be divided into two categories: AI leaders and AI practitioner (including AI company high-level staff, AI project investors, AI professors, AI product managers and AI researchers and programmers, etc) AI leaders will be elected by AI practitioners and election will occur once a week. The board of AI leaders will consist of 50 people.
For a project to be listed, it has to have been voted on by the majority (over 1/2) of all AI leaders who have had their identities verified and over 80% of the votes have to be in approval. This process ensures the quality of projects being listed on DeepToken Exchange.
There are voter rewards as well. For each voter their DPT reward is total reward * 1/8th of total voters; the other 7/8ths of the total reward will be divided between each voter according to the amount of DPT they hold in their exchange wallet (they need to be have held this DPT in their wallet for at least 7*24hrs).
As such, the more DPT one holds, the more DPT one will receive as reward via the voting mechanism. This system incentivizes voters to seek out and vote for the highest quality projects. This method, in combination with the exchange’s deflation mechanism and tokenization ability, could very quickly render DPT a valuable commodity in the field of AI and blockchain integration.
The cryptocurrency market is undoubtedly going through a cold winter at the moment. Navigating this bear market will require patience, wisdom, and faith.
DPT is the exchange token issued by DeepToken Exchange. It differs from other exchange coins in that it functions as the foundation for the DeepToken Exchange ecosystem and community governance program. By allowing users to get a refund on their trading fees, buying back from the secondary market, community voting for listing and community affairs, the token will allow users maximum participation in building the ecosystem.
DeepToken Exchange will never charge a listing fee, moreover they will use 80% of the transaction fees to buyback coins from the market and burn them. The remaining 20% will be distributed to DPT holders. As such, as well as receiving dividends, DPT holders will also benefit from the deflation mechanism as it works to increase the price of the token.
Exchange listing is only one of the services DeepToken Exchange provides to AI projects. The exchange offers a comprehensive and complete support package, including reduced computing costs through partner DeepBrain Chain (offering as much as 70% off GPU power costs).
As poet P.B. Shelley, once said “If winter comes, can spring be far behind?’”
DeepToken Exchange, working with its partners, will aim to solve three main dilemmas: computing power, algorithms, and data, simultaneously providing a streamlined method of financing. DeepToken exchange looks to lead the industry into a new spring.