Streamex CEO: ‘If a Trader Has a Good Reputation, They Will Not Destroy It over a Couple of Bitcoins’
While holding an initial coin offering campaign that concludes already in three days, Vedran Sisak has agreed to discuss with us the main distinctive features of the soon-to-be-released cryptocurrency exchange that he is the chief executive officer of, what one should do in order to make trading process cost-efficient in terms of fees paid, and why reputation is the most valuable asset of a trading professional.
What is the main difference between your exchange and the existing ones?
It’s the first ever exchange to offer real trading competitions, leaderboards of traders, and trading pools. We also provide modern UI with stop-loss and take-profit advanced options which are available on few exchanges.
As we know, your platform’s commission structure is based on the presence of tokens in the user’s wallet. How many tokens would one need to reduce the fee to as low as zero? And to receive discounts and bonuses when trading?
For 0-percent trading fees, you would have to hold $250,000 or more in STE tokens; this will be mostly used by algo traders that make a big number of transactions per day. Even holding $1–100 in balance would give you a 30-percent discount on all trades. All details can be found in our lite paper.
Tell us in more detail about the competitions that will be held on your platform. How many people can take part? How long will they last? Or will it just be a single, constantly-updated leaderboard? What are the benefits for top traders?
As an opening main competition, there will be a $1,000,000 reward fund, a top prize of $300,000, and first 1,000 traders will be rewarded in BTC. The competition will last 45 days, and only ROI will count for ranking. So traders with the best skills and luck will be ranked best, and not ones with the most volume and money. There is no limit on participants: everyone can participate. Besides, we will reward traders every month and every week on a regular basis.
Let us talk about another prime feature of your platform, trading pools. Is the total number of pools on the exchange anyhow limited? Will anyone be able to create a pool and raise funds, or will there be some specific prerequisites? How will you ensure that the users are protected from dishonest traders and loss of their funds?
Any trader can create a pool, but they should have good reputation and stats as a trader first. They need to prove they know how to trade; otherwise, no one would invest money with them. Also, the more volume and trading profit a trader has, the more funds they can collect. To protect our clientele from bad actors, we have included a mandatory investment from the pool creator amounting to 1/10 of total funds raised, so if they want to lose money purposely, they will lose their own money as well. But those willing to invest in a pool should also check pool creator’s stats before investing. If a trader has a good reputation, they will not destroy it over a couple of Bitcoins. It’s a nice feature for people that do not have time or knowledge to invest in crypto but would like to: they would simply come to Streamex, find pools run by good traders, and invest money with them to make profits basically doing nothing.