[ANN][STEX.Exchange]1-st Exchange Aggregator to trade all coins in one place

[nasasan620]

I am not really clear in what makes your prediction of getting 5 percents of the market?
I am also not really sure what makes people dare to use your market while there are so many good exchanges already?

Though I think this project sounds quite interesting, but i'm not sure if what makes your exchange so attractive to most of people out there...cus your project looks to have not so many people and big supporters yet.

Thank you,

[STeX.exchange]

What happens when you move your tokens to another wallet, i.e. assuming you have two wallets and want to move your tokens between your wallets (not selling) do you loose the bonus as well?

Since blockchain doesn't link wallets to one person that will be considered like you sold part of your tokens.

I am not really clear in what makes your prediction of getting 5 percents of the market?
I am also not really sure what makes people dare to use your market while there are so many good exchanges already?

Though I think this project sounds quite interesting, but i'm not sure if what makes your exchange so attractive to most of people out there...cus your project looks to have not so many people and big supporters yet.

Thank you,

I will partly answer your question by this announcement:
The release of the DEEP product @STeXexchange/594 is scheduled on 23 August. Gonna be a bomb for the ethereum community. This way we demostrate our power and capability to handle real Big Data and add real value to STeX.Exchange token holders. We expect the DEEP will become highly popular among blockchain users.
BTW this technology will also be used in STeX.exchange trading platform

[STeX.exchange]

Today I made some major venture agreement with our investor in Europe. Actually I am on a business trip right now. We got more support and capital to start STeX before preSale ends

[STeX.exchange]

Today has been added the Portuguese translation by ismart1 https://bitcointalk.org/index.php?topic=2069800.0
Portuguese WhitePager https://drive.google.com/open?id=0B6d6bzKey1dFYkZkSEx2QkM2Vnc

[Ivan [STeX]]

I'm glad to inform that collected funds passed 33% from min cap and continue to rise.

[616westwarmoth]

First, please don't take this as criticism, more so as an interested party trying to ascertain the full risks and rewards.

I'm curious Dev about some of the numbers in your Investor Advantages (heading white sheet.

8.1 Fixed limit of 100M STE.  Does this mean the sale will be limited to approx 77M since the Founders gets a 30% stake?

8.8 Do the Founders Stake get the 20% commission bonus as described under 7.1 for continuously held ICO tokens?

Organizationally, who makes the decisions for running the business after the ICO?  If so, I worry about the abuses that could occur if the Founders decide to take a big salary and thus eliminate most of the profits.

Finally, a bit of math and some presumptions with questions.  With the wild assumption that 10M tokens pre-sell (to make the math easier) and the answer to 8.1 is that the maximum ICO sale is 77M due to Founders Rewards, if the ICO almost sold out, getting to 70M (including presale) then 10K ETH would be raised in presale and approx 1.2M ETH raised in ICO with 120K ETH paid as reward to presale.  That would make the average price per STE approx .013 ETH/STE (1.2M raised, 91M STE with Founders Reward).  If that price held at the average then each month each STE would be worth 1.3ETH in free trades or at even $250/ETH (low) my math says that could mean 22 Billion in free trades a month.  The low end of the 5% target is 500M/day which to me means if everyone maximized their benefit of free trades, the exchange would have to double its low target to make any profit.  Since the 100x/mo figure will grow and shrink with market demand for STE I cannot see a world where a heavy trader doesn't buy enough tokens on the secondary market to eliminate most of his cost (and my my quick math, 5 trades a year would be a breakeven point for them).

So given all that, what is the projected profit on the target share of the market (5%) or are my numbers skewed?  Again, I'd like to invest but it seems like liquidity might be an issue for a considerable time while growing market share.

[Ivan [STeX]]

First, please don't take this as criticism, more so as an interested party trying to ascertain the full risks and rewards.

I'm curious Dev about some of the numbers in your Investor Advantages (heading white sheet.

8.1 Fixed limit of 100M STE.  Does this mean the sale will be limited to approx 77M since the Founders gets a 30% stake?

8.8 Do the Founders Stake get the 20% commission bonus as described under 7.1 for continuously held ICO tokens?

Hello,
You are almost right, the Presale+ICO supply is limited to 70m and at the end founder's share will be 30% of all tokens.
But in reality less than 30% because of some costs need to be covered. And founders will give some of their tokens away.

8.8 Yes, the Founders Stake get the 20% commission bonus as described under 7.1 until they qualify the conditions as any ordinary token-holder.
The reason behind is simple - we want people to hold their tokent and keep token price stable. And as token holder, you do not want any founder to put a huge stake in the open market with the risk of rapid price drop. And even if some people do that, others get more from this special bonus.

[nasasan620]

I am not really clear in what makes your prediction of getting 5 percents of the market?
I am also not really sure what makes people dare to use your market while there are so many good exchanges already?

We will provide better liquidity, very small bid/ask spread, and thousands of direct coin-to-coin cross-rates.
Plus comission-free trades.
Can you resist this offer?
The rest is marketing.

OK, I'm a kind of getting its ideas, which I understand really great.

So, if this project is successful,the other projects like OAX, DNT, and Ox protocols, which would be your competitors, are worthless in a sense?

Do you say that Stex exchange has much more advantage than what they are trying to develop?

Its hard to fully believe this can do much well with all the info out there, but this could be a very interesting project with the best payout for token holders.

[Ivan [STeX]]

Finally, a bit of math and some presumptions with questions.  With the wild assumption that 10M tokens pre-sell (to make the math easier) and the answer to 8.1 is that the maximum ICO sale is 77M due to Founders Rewards, if the ICO almost sold out, getting to 70M (including presale) then 10K ETH would be raised in presale and approx 1.2M ETH raised in ICO with 120K ETH paid as reward to presale.  That would make the average price per STE approx .013 ETH/STE (1.2M raised, 91M STE with Founders Reward).  If that price held at the average then each month each STE would be worth 1.3ETH in free trades or at even $250/ETH (low) my math says that could mean 22 Billion in free trades a month.  The low end of the 5% target is 500M/day which to me means if everyone maximized their benefit of free trades, the exchange would have to double its low target to make any profit.  Since the 100x/mo figure will grow and shrink with market demand for STE I cannot see a world where a heavy trader doesn't buy enough tokens on the secondary market to eliminate most of his cost (and my my quick math, 5 trades a year would be a breakeven point for them).

So given all that, what is the projected profit on the target share of the market (5%) or are my numbers skewed?  Again, I'd like to invest but it seems like liquidity might be an issue for a considerable time while growing market share.

I realy like your aproach. Not too many people calculate intrinsic value even on stock market nowdays...
Let me put it this way. All rules in this project was designed to keep balance between interests of all parts involved. Free trades is not exception. The idea behind it is simple. This is OUR project. Mine. Yours. All token-holders share it and own it. We build it for all token-holders and free trades has an equilibrium at the point where all token-holders trade volumes according their share in the STeX project.
Only in this case there would be no comission distribution, but community will get a superfast exchange with comission-free trades. And indirectly each token-holder will be profiting from this sutuation. Because money you did not spent is actualy your profit.
In reality there will be disproportion between shares and because of that some commissions will be collected and distributed anyway.
And free-trades rule can be tuned to stay in balance with trading volume and quantity of tokens.
Again. We do not expect 70% of tokens to be distributed. 50% is much more realistic.
You should recalculate each stage of ICO separately to get the idea if it is attactive for investment or not.
Early stages are definitely a good deal, the rest depens on your projection of market growth and STeX share of the market. Because 20% market share is also real in some cases, and that changes calculations dramatically.

Both free-trades and commission distribution are main features that will determine post-ICO token price.

We are so different from other exchanges that it is realy hard to predict market share. It can become huge.
We can check your math if your provide your vision of (1) STeX market share and (2) daily market volume.

[616westwarmoth]

Organizationally, who makes the decisions for running the business after the ICO?  If so, I worry about the abuses that could occur if the Founders decide to take a big salary and thus eliminate most of the profits.

I am STeX CFO and most financial decisions are under my control.
In this case, the founders are among the biggers token-holder's and are intereted in fare commission distribution as any other token-holder.
This system (commission distribution) was designed to attract clients to the project, eliminating it will put all business model at risk and will result in a rapid STE price drop - which is also far from owner's interests.
With this project we wish to bring a new standart of openness and provide quaterly reports to the token-holders - as a good practice inherited from old-school businesses.

Thank you for your answers.  But back to the heart of the question, if my numbers are even close, how does the exchange hope to make money for a while?  STE tokens will offset most fees for big users (since by my math, they'd be pretty crazy to not buy some).  The increase in value of STE doesn't correlate to the value of the company in terms of operating income, merely in valuation for the STE holders (of which the Founders are the largest).  If the value of STE increases, then the amount of free trading increases.

To put some fake numbers to it, what if a STE was worth $3 (which is below what the average cost would be if the project were to sell out).  If I trade (on average) 1 ETH at $300 each day, I should buy 30 STE at $3 on the open market (1 STE at $3 means $300 in free trades per month, so 1 STE per day * 30 days in a month).  Then instead of a $0.60 fee every day, or $18/month and pays for itself in under five months.  A trader doing $9000 a month in trades is probably in the top 10% of traders, and in most business, your top 10% provides 90% of you income.  So again, how is this going to be profitable?  You might say, well the limit is supply doesn't mean everyone will get one.  But since the free trading is 100x STE 30 day value, it doesn't work that way.  If the above fictional customer buys 30 STE at $3/STE to offset his $9000 monthly trading, and others see this, the demand for STE goes up.  If the STE rose to $90, the above customer could sell 29 of his and still get free trades, and now 29 other similar customers are doing the same.  Even at a lower valuation, say $1/STE which would be the average if 50M coins were sold, you're offsetting fees on up to $5 Billion a month, which is under your low volume end target, a third of your possible income.

So to summarize, given the massive amount of fees that would be potentially offset by STE coin holders, what is the expected operating costs of this venture at $500M/day and what is a realistic operating ratio that can be attained with the above pressure?

I think this project has great potential, but the long term profit is hampered by this provisional benefit. 

[Ivan [STeX]]

Thank you for your answers.  But back to the heart of the question, if my numbers are even close, how does the exchange hope to make money for a while?  STE tokens will offset most fees for big users (since by my math, they'd be pretty crazy to not buy some).  The increase in value of STE doesn't correlate to the value of the company in terms of operating income, merely in valuation for the STE holders (of which the Founders are the largest).  If the value of STE increases, then the amount of free trading increases.

To put some fake numbers to it, what if a STE was worth $3 (which is below what the average cost would be if the project were to sell out).  If I trade (on average) 1 ETH at $300 each day, I should buy 30 STE at $3 on the open market (1 STE at $3 means $300 in free trades per month, so 1 STE per day * 30 days in a month).  Then instead of a $0.60 fee every day, or $18/month and pays for itself in under five months.  A trader doing $9000 a month in trades is probably in the top 10% of traders, and in most business, your top 10% provides 90% of you income.  So again, how is this going to be profitable?  You might say, well the limit is supply doesn't mean everyone will get one.  But since the free trading is 100x STE 30 day value, it doesn't work that way.  If the above fictional customer buys 30 STE at $3/STE to offset his $9000 monthly trading, and others see this, the demand for STE goes up.  If the STE rose to $90, the above customer could sell 29 of his and still get free trades, and now 29 other similar customers are doing the same.  Even at a lower valuation, say $1/STE which would be the average if 50M coins were sold, you're offsetting fees on up to $5 Billion a month, which is under your low volume end target, a third of your possible income.

So to summarize, given the massive amount of fees that would be potentially offset by STE coin holders, what is the expected operating costs of this venture at $500M/day and what is a realistic operating ratio that can be attained with the above pressure?

I think this project has great potential, but the long term profit is hampered by this provisional benefit. 

Free-trades rule is not included in token and should be imlemented on system core level.
Because of that if any problem emmerge with this rule, it can be changed on the fly.
Final and correct formulas can be found in new version of whitepaper before ICO start.
Please note that this is pre-sale stage and we may have some discrepancies in business model that is not part of token itself (wich was double checked before launch).
Anyway, I will check your calculations and prepare a detailed reply, but it may take some time, because they would be a bit more complex.
Thank you for putting my attention on this subject.

[616westwarmoth]

Thank you for your attention to this.

Would possible solution is that every STE is worth a set dollar amount of free trading per month that does not fluctuate with the price.  This removes some investment incentive but having a definitive benefit that is immutable is worth more than one that is nebulous. 

So the previous example of the $9000/month trader, if STE always provided a benefit of $100 / STE / Month, there would be no escalation in the benefit and he would always need 90 STE.  I would think that a more equitable arrangement would actually be for STE to provide the benefit of a fee reduction per  STE / Calendar Day (with no rollover).  This would allow for the possibility that fees might increase or decrease in the future but the benefit to the holder would be static and the liability to the health of the exchange would not change.  While initially this seems to be a higher benefit and more problematic, my unresearched instinct is that it could be $0.01 fee rebate / STE / calendar day which would mean the above trader would likely need more than 90 STE as his trading won't be level and he will become somewhat attached to the exchange when his trading level spikes since he is unlikely to increase his holdings for his two or three big trading days per year.

With a benefit of $0.01 fee rebate / STE / calendar day, the 35% sellout level would mean approximately 50 M STE (35M sold, 15 M Founders) in circulation.  If the 0.2% commission of $1M (the low end of the 5% target) was hit (which still assumes a five to ten fold increase in the market) and a tenth (1/10) the coins were used each day (unlikely) then net revenue after STE discount would remain at $950K/day, whereas under similar conditions the current proposal would be far less (dramatically so if the coins were used to maximize benefit).

Also the 7.4 suggestion breaks down very quickly under the current proposal as there is greater incentive for large holders to effectively undercut the exchange and directly profit from their coins as opposed to taking fractional gains from the common pool (google the "tragedy of the commons").

Let me finally say, please do not take any of this as me throwing stones at your project.  I like the underpinnings and the overall structure, but there needs to be significantly more detail and disclosure to get large investors.

[Ivan [STeX]]

With a benefit of $0.01 fee rebate / STE / calendar day

This constant rebate structure will become worthless after trading volume growth, and idea behind it was to keep demand for tokens stable. We published simplifyed discription of this feature, I'm checking original formula now and come back to you soon with possible sollution.

[STeX.exchange]

Today is the very important day for our team. I, Andrew CEO of the company, personally feel all the responsibility for everyone who believed in us. It feels like hundreds of tiny energetic strings coming from around the world to us. This new feeling makes impossible for me personally to break the Universe rules but to fulfill them to the outmost.

All this clearly formulates our mission to fulfil every obligation we have already stated both in our WP, website and in private talks. We have only one way left but to move forward whatever time and dedication it will take from us. We fill bold and energetic as a team and we have all the mental, emotional, esoteric and physical powers to implement every step we planned.

Our team is completely balanced in all aspects and is highly productive. We know each other for years and have enough time to learn the strong and weak sides of each other. Being highly flexible to adopt to any situations we fill and already proved we can deal with any new situation whatever it will be outside our chartered territory. As of today, with all your precious and growing support we have extremely high odds to become one of the top 10 renowned companies in 2018. We highly value our investors, because we learnt in practice ourselves what value approach is. And our top priority is the value of each share our investors hold and continuous support and increasing of this value like Warren Buffet has been doing all his life with his renowned Berkshire Hathaway.

Join us now on this new quantum ship and we together will be creating absolutely new cryptoreality and implementing revolutionary new ideas which are still waiting in our heads to be implemented. I promise you this will be both a mind blowing experience and extremely high rewards.

[STeX.exchange]

Thank you for your attention to this.

Would possible solution is that every STE is worth a set dollar amount of free trading per month that does not fluctuate with the price.  This removes some investment incentive but having a definitive benefit that is immutable is worth more than one that is nebulous.  

I like the idea, personally. We need such pieces of precious advice from our investors/users really.
Since the formula proposed by Ivan was quite a complex one, we decided to publish it a bit later, when needed... until someone like you come up with such a question. Ivan is actually in charge of the maths part of STeX.
I spoke to Ivan today about this to accelerate the process.

Let me finally say, please do not take any of this as me throwing stones at your project.  I like the underpinnings and the overall structure, but there needs to be significantly more detail and disclosure to get large investors.

Absolutely agree.

[Ivan [STeX]]

Just yesterday we hit 33% of soft cap and today we passed 50%.
We would like to thank everybody for your trust and support of our project.

[STeX.exchange]

Actually it's 54.5% already to the soft cap today! Congrats to all our subscribers! 

[ahndea]

good day!! am i right telling the project is crypto related but non-blockchain based,pls? have tried to understand the same fm a wp unftly w/o success. probably i overlooked a functionality of STE tokens in case i'd need to sell it. how can new buyers use it in case the dividends aren't valid any longer,pls? also i'm interested whether you have familiar advisors or not,pls? thanks beforehand for your kind attention

[Ivan [STeX]]

good day!! am i right telling the project is crypto related but non-blockchain based,pls? have tried to understand the same fm a wp unftly w/o success. probably i overlooked a functionality of STE tokens in case i'd need to sell it. how can new buyers use it in case the dividends aren't valid any longer,pls? also i'm interested whether you have familiar advisors or not,pls? thanks beforehand for your kind attention

STeX project is crypto related but non-blockchain based.
Tokens become tradable right after ICO end if I understood your question right.
We do have experienced advisors.

[ahndea]

good day!! am i right telling the project is crypto related but non-blockchain based,pls? have tried to understand the same fm a wp unftly w/o success. probably i overlooked a functionality of STE tokens in case i'd need to sell it. how can new buyers use it in case the dividends aren't valid any longer,pls? also i'm interested whether you have familiar advisors or not,pls? thanks beforehand for your kind attention

STeX project is crypto related but non-blockchain based.
Tokens become tradable right after ICO end if I understood your question right.
We do have experienced advisors.

Ivan, hello. thanks for your reply, well noted. tradable is ok but mean what value STE has in general when an investor is willing to sell it,pls?