It is Estimated that one of the leading Cryptocurrency exchange has made over $300,000,000 in profit just in the first half of this year alone, Billions of dollars worth of trades are conducted in various cryptocurrency exchanges every single day and this is something that happens every single day, But most of these exchanges tend to keep the profits generated from those exchanges for themselves, they don't give back to the community nor traders.
Have you ever wished there was a Cryptocurrency exchange that distributes some of it's profits to it's community members and supporters? Have you ever wished there was a fast, secure and reliable way to earn rewards just by holding a particular token? If your answer to these questions is yes, then I have very good news for you, such an exchange does exist and it's name is HiBTC.
About HiBTC
HiBTC is a very new trading platform, and just launched around early August/2018. Like the recent general trend of the new floor, HiBTC also goes in the direction of trading as mining, and divides the profits for those who own the tokens of the floor. Some of the highlights are CoinEX, BTCC, IDCM, Bgogo, etc. Although it looks like Ponzi, this is a great way to attract users, and improve liquidity. Moreover, this model not only helps the floor but also benefits investors, if the floor has a large trading volume.
HiBTC aims to be a more democratic platform. Therefore, founders do not hold any business titles nor like anybody else does. They are so humble that they just want themselves to be called technicians who work for platform to work properly. The platform will be governed by the community. The process will be based on voting structured on smart contract voting system. HIBT token holders, which is the native token of platform, will participate in voting process via using their HIBT token voting power. I will try to provide detailed information regarding this governance model later on my next article.
On the site, HiBTC has not yet published specific information about the founding team, and its headquarters. However, if you read through Section 4 of the Terms of Service, you think that the floor was established in Hong Kong because of the mention of the Monetary Authority, and Hong Kong Customs. Assuming it is true, it is not surprising that most of the floors are based in this city. Notably, HiBTC claims that they are backed by the Ceyuan Digital Assets Foundation, and is one of Cybermiles’ strategic partners. Accordingly, the tokens that run on the CMT network are highly likely to be listed on the floor.
At present, the floor supports only 6 electronic currencies namely BTC, ETH, LTC, BCH, USDT and HIBTC, CMT, USE, soon more coin other
Token HiBTC
According to information on the website, HIBT is the only private currency issued by HiBTC, evidence of the floor. Specifically, it will be issued under the principle of “trading as mining”, invite friends and will stop until it reaches 10 billion tokens. HiBTC will divide its earnings to HIBT holders. At the same time, the owners also have the right to participate in important decisions and management areas, including listing new tokens, transaction fees … In addition, the floor also plans to “ “ Users can voluntarily take part or all of the HIBT lock on the floor and enjoy over-rate sharing with different rates. The longer the lock time, the higher the divide rate.
FEATURES OF HiBTC
Almost Immediately after Registration and my first deposit, the first thing I noticed was how important the HiBTC team takes security and information, I was informed via mail when my deposit reflected in my account, HiBTC kept me in the loop about any activity in my account while I was using the exchange and this struck my as being very innovative.
• Security: Security of funds in a Cryptocurrency exchange is very very important and the team behind HiBTC knows this and takes the security of funds of it's users very seriously and that is why they utilize multi-layer firewalls, multi-signature, and cold hot money bag isolation programs to maximize the security of user assets and HiBTC also collaborates with top security Outfits.
• Revenue Sharing: This is one very unique and innovative feature of HiBTC, HiBTC has it's very own native token called the HIBT Token, Users of the platform are rewarded just for holding this token, 50% of the HiBTC token is distributed to traders who also hold the HIBT tokens and the revenue generated from the platform is distributed to the holders of the HIBT as well, HiBTC presents a passive earning opportunity to it's users, this innovative process is known as Trading Mining.
• Rights Sharing & Transparency: HiBTC Exchange is unlike any existing centralised exchange platform because it gives the it's users decision making rights, for example, A user group that holds 5% or more of HIBT total circulating supply can independently recommend a cryptocurrency to be listed in HiBTC, Isn't that mind-blowing?. Additionally, the rights to make major decisions in the platform shall be vested on the HIBT token holders.
• To in a bid to make everything more transparent, it is also note worthy to mention that all transaction data, income data, mining data, voting data would be regularly published and made public in such a way that it would be easily be Verified.
• Fast Transaction Framework: One reason many users run away from some exchanges is their slow transaction framework, some exchanges are not built to handle much transactions per second and when the transactions exceed such a limited number, problems starts arising, the brilliant minds behind HiBTC knows this and they have created a conducive framework for professional and amateur traders alike where they can trade and never have to worry about the speed of their transactions because HiBTC is built to handle 2,000,000 TPS (Transactions Per Second).
Holders’ Privileges
HIBT is the native token of HiBTC platform. There will be 10 billion of HIBT tokens issued and this number is fixed. There are some privileges gained through holding HIBT tokens which are:
- Revenue Shares : Platform revenues will be distributed among platform users who hold HBIT tokens. Distribution will be made daily and it will be done in accordance with the bonus rules.
- Participating in Governance : HIBT holders will have the right to participate in decisions related to platform. making process via voting. Voting will be facilitated by smart contract voting system.
- Participating in Community Supervision : Members of the Community Committee will be elected by HIBT holders. Elected supervisors will report their activity to the community while they are doing their jobs. At the end of their service, new committee members will be selected via voting.
- Listing Recommendation : A certain amount of HBIT holders will be awarded with right to recommend a token listing.
Revenue Sharing
The platform revenues will be distributed among the HBIT holders and the remaining revenues will be used to operate the platform. Snapshots will be taken hourly to determine the HBIT holding status of users. The accumulated dividends for each day will be paid the other day.
In order to encourage the users to hold HBIT on a long term a “Dividend Bonus Program” is introduced where, the part of the HBIT participated will be locked for a certain period of time in return of a bonus.
Distribution of Token
• 50%: Refund of the transaction fee
• 18%: Holders of tokens
• 25%: Founding team and strategic partner
• 5%: Investor platform
• 2%: Market expansion Currently
Currently, HiBTC has opened many different incentive programs, you follow the site and earn attractive gifts offline to attract trading money on the platform.Calculated once per hour. On the following day, the amount accumulated yesterday 24 hours will be issued to the user’s wallet.
Roadmap
To learn more about this exchange, check out the links below:
Exchange Link: https://www.hibtc.com
Whitepaper: https://www.hibtc.com/om/about/en-us/whitepaper.pdf
Twitter: https://twitter.com/HiBTC_Exchange
Telegram: https://t.me/www_HiBTC_com1
Author: JonyAce
Username bitcointalk: JonyAce
Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1886490;sa=account
ETH address : 0x95295a487AC1Ca8516c6ddb055C0361D504ea43e
you made very detailed review.