Title: Trustless DeFi SaaS for crypto-to-crypto OTC Post by: mrAlexRoyce on January 02, 2020, 01:18:15 PM Market size Last three years Over-The-Counter cryptocurrency market keeps on growing in volume and clients amount across the globe according to many reports of brokers and companies involved in the process. OTC turnover in 2018 amounted to more than 5.471 trillion USD equivalent1. Daily volume 2019 OTC Market $30B+ Crypto Exchanges2 $20B DEXes3 $2.3B The research part from Capco (https://www.finextra.com/blogposting/16628/otc-crypto-market---at-a-glance) 1 Based on reports by Bloomberg (https://www.bloomberg.com/news/articles/2018-10-01/institutional-investors-are-using-back-door-for-crypto-purchases), Bravenewcoin (https://bravenewcoin.com/insights/word-on-the-street-study-finds-bitcoin-otc-volumes-3x-exchanges), Circle (https://medium.com/circle-blog/circle-2018-accomplishments-and-2019-themes-a58706d4d33e), Statista (https://www.statista.com/statistics/864738/leading-cryptocurrency-exchanges-traders/), CCN (https://www.ccn.com/otc-is-much-larger-than-bitcoin-exchange-volume-where-real-whales-trade/) and 10+ another sources. 2 Crypto exchanges volume (https://nomics.com/exchanges?interval=365d) 3 DEX daily volume (https://www.theblockcrypto.com/linked/51099/total-dex-volume-on-ethereum-surpasses-2-3b-in-2019-with-idex-leading-the-market) Why OTC broker (instead of a crypto exchange)?
Who are the main buyers and sellers? At the moment, the main buyers are hedge funds and the main sellers are miners. In Oct 2018, it was reported in Reddit Rumours (https://www.reddit.com/r/Bitcoin/comments/9ksz6h/institutional_investors_are_secretly_buying/) that hedge funds were buying large volumes from miners. The main participants trading crypto OTC are:
What are the main problems?
What we do? ROX Capital AG team is working on Decentralised Finance technology which brings fully trustless direct asset exchange tools to customers of OTC companies and crypto exchanges. ROX is designed the platform that helps to build trust between exchange members based on a trustless technology which retains assets control by beneficiaries on any stage of a process. The system of Smart Contracts provides a simple tool that help participants exchange Proof-of-Funds in seconds without moving funds to a broker or third party escrow until needed amount and price requirements achieved from both sides. >> Schema << (https://imgur.com/a/fLhQEbm) Features
4 Trustless Network is based on blockchain opportunities, the system provides manager or beneficiary to setup terms for each deal, including price, referral fee amount, choose exact whitelisted tokens for both sides of exchange, also minimum transaction volume or fix lot for change. The all details are transparent and available in blockchain comments and through the provided interface for both sides. 5 On the first stage we provide Ethereum ERC-20 based MVP which is demonstrate the concept and during the public Beta-test continue working with Bitcoin blockchain integration stability. Two or more OTC brokers can merge any deal, set-up needed fee size and share it through built in partner program. Time is saved for all market participants — from agreement to transfer receipt both sides could spend less than 1 hour, instead of days or weeks. Anonymity is protected — large impersonal reliable orders and no needed meetings anymore. As the majority of brokers execute based on Request for Quote (RFQ) and ‘Fill or Kill’ (FOK). That’s why we created four types of contracts: 1. FOK with two participants and fix lot order. 2. FOK with two participants and minimum order amount. 3. One side offer can be filled with unlimited transactions from second side and minimum order amount. 4. One side offer can be filled with unlimited transactions from second side with fix lot order. Contracts can be declined by initiator any time before lot or minimum order amount fulfilment. If declined, all funds returns to senders without any fees. Same as escrow but trustless. Options ROXY provides: 1. Web app cabinet, where broker prepare a deal in three simple steps: choosing contract type, fill up details (tokens for buyer and seller, price, lot/minimum amount, fee, other additional details) and creates contract with transparent accepted by participants terms. 2. White label integration. The service is provided under an agreement B2B to a companies authorised to proceed exchanges of crypto assets for their customers according to regulatory agreements in the countries where entities operating. ROXY launch Q1, 2020 Early access is going in January Request for beta (info@rox.swiss) Follow updates in telegram channel (https://t.me/roxcapital). Title: Re: Trustless DeFi SaaS for crypto-to-crypto OTC Post by: NWgost on January 04, 2020, 02:02:49 PM My congratulations. We are waiting for WP and beta!
Title: Re: Trustless DeFi SaaS for crypto-to-crypto OTC Post by: mrAlexRoyce on January 04, 2020, 02:45:41 PM My congratulations. We are waiting for WP and beta! You could request (info@rox.swiss) for beta with a short message. Our team will provide a survey for more details and early access for testing in few weeks. Thank you! |