Currently there are over 200 ERC20 tokens on Ethereum, with the list growing larger every day; various exchanges facilitate the transfer of fiat to cryptocurrrency (eg: Coinbase), as well as cryptocurrrency to cryptocurrency (eg: Shapeshift). In the last few months, we have seen the emergence of a new class of exchange — the decentralized exchange, which enables transfer of cryptocurrency to cryptocurrency using smart contracts (EtherDelta, 0x). Our vision is to build a platform on which users can create, trade, and settle any financial instrument on ERC20 Tokens through our smart contracts and APIs. This would help users to hedge risks that are inherent with Blockchain Tokens, invest in multiple Tokens with a single transaction, and derive the benefits of decentralization (increased security and no central party to clear the trade).
Our initial product is a portfolio trading application built on the Ethereum blockchain for Ethereum based Tokens. It allows users to create combinations of Tokens (known as a portfolio) and trade this portfolio with a single transaction through the blockchain itself using the smart contract code that we’ve written on Ethereum. This helps customers reduce the risk of investing in volatile Tokens, enables easy transaction between relatively low liquidity tokens, and has the advantages of a decentralized exchange (increased security, no central party to clear the transaction). Aside from enabling creation, trade, and settlement of portfolios, our portfolio optimization algorithm gives users information on what could be an optimum portfolio to create or trade based on the tokens that they wish to hold or the tokens that they wish to create a portfolio with.
For enhanced security and ease of use, we have built APIs that are called from our front-end. These APIs connect with our smart contracts deployed to the Ethereum blockchain. Our tokens — the Wand token — allows users to use the features on our platform, as well as allows external Dapps to use our APIs. Every trade that happens through our APIs and is charged with a small trade fee in Wand tokens.
Check out Wandx marketplace here:
https://www.wandx.co
