CHEX Token
World-class Marketplace & Supply Chain Technology
Launched in Cannabis & Hemp Industry
Token Sale Closed - Token Merger executed with Tokes (TKS) * * * * *
[platform developed and launched]Commodity & Holdings Exchange (CHEX) is modular marketplace software, already developed, to power supply chain distribution and asset exchange platforms. Trading within individual commodity and B2B product industries carries its own idiosyncratic business processes. Individual players within a specific industry also have their own idiosyncratic processes. We have developed The CHEX platform to provide a robust range of tools and feature sets that can be wired and further customized for the needs of any industry. Specifically, through process modularity, we can provide (1) a wholesale storefront for individual businesses and suppliers; (2) a private exchange customized for the needs of business networks; (3) a public exchange to meet an entire industry’s requirements. All platforms are fully featured for enterprise-level needs: marketplace, business management (inventory, customers, orders, user onboarding, etc), process automation (internal, marketing etc), admin controls, delivery & logistics tracking, open API ready, social network (profiles, messaging, user ratings, mobile QR connect, etc), and more. Name: CHEX Token
Symbol: CHX
Blockchain/Protocol: Ethereum/ERC20
Token utility: Transaction medium with fee waiver + Gamified user rewards + CHEX premium services for users
Token price: 1 ETH = 21,000 CHX (after early discount period)
Supply: 1,000,000,000
Crowdsale distribution: 95%
Crowdsale start: August 25, 2017
Crowdsale end: When supply is sold, or we choose to end token sale for strategic reasons and
burn unsold token supply
Purchase methods: ETH, BTC, Altcoins (ShapeShift integration)
Cap: No hard cap - sale ends when crowdsale supply is sold or desired soft cap is reached and we choose to end it (and burn remaining supply of CHEX tokens)
Platform developed? Yes, we began in 2014 and completed an extremely comprehensive foundation in 2017, that is ready for any core B2B exchange use case and further customization for client needs
Platform launched? Yes, powering B2B exchange of commodity & finished products in the Cannabis & Hemp industries first
http://thechex.com/, followed by growing interest from people to have us establish marketplaces in other industries
Clients and users secured? Yes, in the U.S, including Producers, Distributors, Manufacturers and Retailers, as well as another Exchange for whom we will power their marketplace platform in via partnership
Commodity & Holdings Exchange (CHEX)
We’ve built a robust set of modules that each contain a generic process and designed all features to be industry agnostic, so as to repurpose and further customize between industry platforms. Examples of developed modules for B2B exchange include product bundling, lot specifications, listing price types (market, limit, auction), order communication channels, order negotiation, settlement, logistics tracking, social and business networking, user ratings, affiliate platform trees, and compliance verification. CHEX Process Modules can be swapped and linked in adaptive ways to expediently onboard a new industry platform and provide all necessary features for a smooth user experience. Piecing these modules together can be wired to solve all idiosyncratic needs of each hard, soft and digital asset sector to optimize B2B exchange as well as to launch other marketplace types (B2C, C2C or P2P, C2B).
The underlying blockchain layer integrates CHEX Token (CHX) into individual exchange platforms to establish (1) a common transaction medium for asset exchange between parties and (2) a distributed, immutable ledger record of verifiable asset holdings and physical inventory tracking.
Furthermore, the CHEX Token model is an economic innovation for buyers and seller to transact more favorably versus established exchange networks, via the
gamified CHX Rewards Program. CHEX Tokens will be rewarded to participating users who supply market activity and useful content that boosts an industry’s platform ecosystem via the network effect. Since CHEX Token units serve as a transaction medium on these platforms, the value of rewarded tokens provide a subsidy to all transactions, thereby discounting market buyers and ensuring sellers settle at top market price. This model also merges previously unlinked market makers: Individual broker accounts who may navigate between industries can also earn by affiliating with active market orders to help connect buyers and sellers and facilitate transactions.
The superstructure that CHEX intends to create is a unification of isolated industry sectors on a common, blockchain-secured platform. The CHEX ecosystem will power various industry "Pillars", which will be customized according to their unique needs and regulations in collaboration with Industry Ambassadors. The CHEX Token Layer will serve to bind all independent industry exchanges onto the same governing blockchain. Our goal is to scale the CHEX modular platform, blockchain and emerging technologies to upgrade commodity and asset exchange markets by making them more efficient, automated and trustless.
TARGET INDUSTRIES AND USERS:1. HARD COMMODITY ASSETS – Metals (Precious, Industrial), Energy, Petroleum
2. SOFT COMMODITY ASSETS – Agricultural (Grains, Softs), Cannabis, Industrial Hemp, Renewable Energy
3. DIGITAL ASSETS – Cryptocurrencies, Business Leads (Commercial Mortgage, Merchant Cash Advance, Business Loans, etc), Gaming (MMO Gold, Steam Keys), Music, Art, etc
4. USERS (B2B) – Producers, Processors, Wholesalers, Distributors, Retailers, Brokers, Double Brokers, Ancillary Services, Market Analysts and Speculators, Regulators
Cannabis Hemp Exchange (CHEX)
Cannabis Hemp Exchange (CHEX) aims to power B2B distribution and wholesale exchange of commodity and finished products in legal Cannabis markets (Marijuana and Industrial Hemp). We provide customized, modern, cross-platform Software as a Service (SaaS) solutions to power white label Wholesale Storefront and Private Exchange platforms, tailored for the business & regulatory needs of licensed businesses in adult use and medical markets.
For maturing commodity market needs, our roadmap is to integrate private client platforms with the ability to ‘push’ excess inventory supply to seed public exchange platforms that we will pilot on regional levels, and match with demand in increasingly anticipated buyer markets; allowing for programmatic transition to centralized marketplace adoption that can provide complete market information, increased business connections and universal exchange standards. We aim to catalyze innovative solutions for B2B best practice adoption in the Cannabis industry with respect to commodity exchange standardization, regional product classification consistency, and sensible quality control standards – the lack of which adversely affect the wellbeing of consumers and medical patients.
WHY CANNABIS?We chose the fastest growing Cannabis industry back in 2014 due to the infancy associated with its regulatory environment. This gave us, as a technology team, a fresh opportunity to innovate over established processes and inefficiencies common in other industries. We spent almost three years inventing technological solutions for all cannabis, hemp and general commodity and product exchange use cases.
Furthermore, as a nascent industry, Cannabis has lower barriers to entry and provides the opportunity to develop sensible trade standards for the most unique and nuanced commodity in the world. This gives us a chance to improve market price discovery, quality control, and commerce, given the industry’s banking problem, via collaboration with established strategic partners. We aim to secure a Proof of Concept in the Cannabis industry as a springboard to power other asset exchange sectors.
REGULATORY COMPLIANCECannabis industry specific regulatory compliance modules are installed, which only allow verified licensed users in regulated markets to engage in active commerce. Usage of all CHEX cannabis platforms is geo-fenced for intrastate commerce only as required by law. The legality of these regional industries is strictly within the confines of U.S. States’ rights. The U.S. government has defunded federal agency enforcement and States now benefit from regulatory guidelines for legal intrastate cannabis commerce. The CHEX does not touch the plant and simply facilitates B2B connections between licensed parties via software that is fully compliant with all targeted regional regulation.
Regarding cannabis trade and online payments, we have extensive compliance measures in place for state and federal law enforcement. Prospective target partnerships with compliant regional cannabis banks along with companies that service customer acquisition and account management for banks, such as Tokken and KIND Financial, will provide online legal value transfer ability (fiat, crypto, CHX) when counterparties on a CHEX transaction have a bank account. Until then, online transactions for product containing >.3% THC (legal definition of marijuana) are facilitated only up to the order agreement, invoicing and delivery & logistics tracking stages, but financial settlement happens offline in cash. However, we may facilitate e-commerce for ancillary and hemp/CBD based products without THC.
For any insurmountable legal hurdles, we are avoiding rollout of certain technologies. In the meantime, while the industry legally matures, we have built and will continue to build all of the necessary technological architecture in preparation for when regulatory restraints are lifted, and have begun to successfully onboard licensed users. This way, we are firmly positioned for rapid adoption on Day Zero of national and international legal cannabis markets.
Sincerely,
The CHEX, Inc.Core Development Team & Founding partner eCann Media
