WHAT IS XTRD?
XTRD.IO is a company founded by Wall St professionals dedicated to bringing battle-tested financial technologies and standards to cryptocurrency markets. This means higher liquidity, lower fees, and combined platforms. XTRD is launching four separate projects:
● FIX API (Industry-standard exchange API)
● SPA (Single Point of Access for Exchanges)
● XTRD PRO (Direct-connect desktop trading)
● XTRD DARK (OTC trading ecosystem)
PRE-SALE
The public pre-sale is over. XTRD has raised 70% of its $45 million hard cap. The will no be any crowdsale in the future.
XTRD TGE DETAILS
Brief TGE summary:
● Total tokens generated: 952,457,688.00 XTRD
● Average bonus given: 53.2%
● No more XTRD tokens will ever be issued.
● Team tokens (10%) are locked for one year in this contract:
https://etherscan.io/address/0xa136b56fa180f4ea557a5b9e42e05660b9b8f618● Life-time bounty program (1% of all allocation) tokens moved to a dedicated wallet.
● XTRD reserve pool contains 29% of all allocation which is 276,212,729.52 XTRD.
● Advisors’ pool (10%) will be distributed in the nearest future.
● 33.6M XTRD bonus tokens are locked for 6 months.
XTRD token info to enter into MEW:
● Contract Address: 0x9c794f933b4dd8b49031a79b0f924d68bef43992
● Contract Name: XTRD
● Decimals: 18
XTRD
XTRD is a technology company that are introducing a new infrastructure that would allow banks, hedge funds, and large institutional traders to easily access cryptocurrency markets.
XTRD is launching three separate products in sequential stages to solve the ongoing problems caused by having so many disparate markets. Firstly a unified FIX API followed by XTRD Dark Pools and finally the XTRD Single Point of Access or SPA.
Our goal is to build trading infrastructure in the crypto space and become one of the first full service shops in the cryptocurrency markets for large traders and funds.
● A single FIX API for trading across all connected exchanges
● A robust GUI for manual cross execution on all crypto markets
● A large liquidity pool, based on orders books from all connected exchanges
● Best prices and best top of book execution net of fees
● Low transaction fees • 99.99999% reliability and uptime
● Fast execution
● Parent/child orders on multiple exchanges to minimize individual market impact
● Advanced order types common in the equity and FX trading space
● Establish XTRD as a premier market-making entity to mitigate spreads and increase liquidity in the cryptocurrency space
● Derivative trading - XTRD plans to connect to LedgerX (US based, approved by the CFTC) for cryptocurrency options and swaps to offer unified hedging and derivative trading strategies
● Robust, US based technical support
● Reliable and familiar deployment methods for institutions:
○ IPSec as a connectivity option across the Internet
○ Cross connection options
○ Collocation space or VPS (Virtual Private Servers) that clients can rent from XTRD
○ UAT/Sandbox environment for testing
INDUSTRY ISSUES
COMPLEX WEB OF EXCHANGES. A combination of differing KYC policies, means of funding, interfaces and APIs results in a fragmented patchwork of liquidity for cryptocurrencies. Trading in an automated fashion with full awareness of best pricing and current liquidity necessitates the opening and use of accounts on multiple exchanges, coding to multiple API’s, following varying funding and withdrawal procedures. Once those hurdles are cleared, market participants must convert fiat currency to BTC or ETH and then forward the ETH on to an exchange that may not accept fiat, necessitating yet another transaction to convert back to fiat. Major concerns for market participants range from unmitigated slippage and counterparty risk to hacking prevention and liquidity.
HIGH FEES. Execution costs are even more of a factor. Typical exchange commissions are in the 0.1% – 0.25% range per transaction (10 to 25 basis points), but the effective fees are much higher when taking into bid and ask spreads maintained by the exchanges. As most exchanges are unregulated, there is generally no central authority or regulator to examine internal exchange orders that separate proprietary activity from customer activity and ensure fair pricing.
THIN LIQUIDITY. A large institutional order, representing a sizable percentage of daily volume can move the market for a product, and related products in an exchange by a factor of 5-10%. That means a single order to buy $1,000,000 worth of bitcoin can cost an extra $50,000-$100,000 per transaction given a lack of liquidity if not managed correctly and executed on only one exchange. By way of comparison, similar trades on FX exchanges barely move markets a fraction of a percent; those price changes cost traders money, and deter investment.
XTRD SOLUTIONS
FIX API
An API is an “Application Programming Interface”, a set of rules that computer programs use to communicate. FIX stands for “Financial Information eXchange”, the API standard used by most financial organizations as the intermediary protocol to communicate amongst disparate systems such as market data, execution, trade reporting, and order entry for the past 25 years.
XTRD is fixing the problem of having 100 different APIs for 100 exchanges by creating a single FIX based API for market data and execution – the same FIX API that all current financial institutions utilize.
XTRD will leverage our data center presences in DC3 Chicago and NY4 New Jersey to host FIX trading clients and reduce their trading latencies to single milliseconds, a time acceleration of 100x when it comes to execution vs internet. More infrastructure and private worldwide internet lines will be added in 2018 and beyond to enable secure, low latency execution for all XTRD clients, FIX and PRO.
XTRD PRO
XTRD PRO is a professional trading platform that will fix the basic problems with trading across crypto exchanges – the need to open multiple web pages, having to click around multiple windows, only being able to use basic order types, and not seeing all your positions, trades, and market data in one place.
XTRD PRO will be standalone, downloadable, robust end-to-end encrypted software that will consolidate all market data from exchanges visually into one order book, provide a consolidated position and order view across all your exchange accounts, and enable client side orders not available on exchanges – keyboard macro shortcuts, VWAP/TWAP, shaving the bid and offer, hit through 1% of the inside, reserve orders that bid 100 but show 1, SMART order routing to best exchange and intelligent order splicing across exchanges based on execution costs net of fees, OCO and OTO, many others.
XTRD SPA
XTRD SPA is the solution to bridge cross-exchange liquidity issues. XTRD is creating Joint Venture partnerships with trusted cryptocurrency exchanges to provide clients on those exchanges execution across other exchanges where they do not have accounts by leveraging XTRD’s liquidity pools.
An order placed by a client at CEX.IO, XTRD’s first JV partner, can be executed by XTRD at a different exchange where there may be a better price or higher liquidity for a digital asset. Subsequently, XTRD will deliver the position to CEX.IO and then CEX.IO will deliver the execution to the client, with XTRD acting as just another market participant at the CEX.IO exchange.
XTRD does not take custody of funds, we are a technology partner with exchanges. All local exchange rules, procedures, and AML/KYC policies apply.
XTRD DARK
Institutions and large market participants who have large orders of 100 BTC or more generally must execute across multiple markets, increasing their counterparty risk, paying enormous commissions and spreads, and generally having to deal with the vagaries of the crypto space. Alternatives are OTC brokers that charge multiple percents or private peer-to-peer swaps which are difficult to effectuate unless one is deeply in the space.
XTRD is launching XTRD DARK – a dark liquidity pool to trade crypto vs fiat that matches buyers and sellers of large orders, discreetly and anonymously, at a much lower cost. Liquidity is not displayed so large orders do not move thin markets as they would publicly. The liquidity will come from direct XTRD DARK participants as well as aggregation of retail order flow into block orders, XTRD’s own liquidity pools, connections with decentralized exchanges to effectuate liquidity swaps, and OTC broker order flow.
XTRD is partnering with a fiat banking provider/broker dealer to onboard all XTRD DARK participants for the fiat currency custody side with full KYC/AML procedures.
USE OF FUNDS
70% - Balance Sheet for SPA/ In order to facilitate the SPA structure, XTRD will need to allocate funds across inventory accounts in a spectrum of crypto exchanges. This will be vital to ensuring speedy crossexecution for client orders and ensuring there is enough net capital to facilitate daily trades in between cross-exchange position and currency sweeps – and to provide clients peace of mind regarding XTRD’s net capitalization. Accordingly, most of the funds raised from the token sale will be used to maintain this balance sheet for trading capital. The balance sheet will also serve to mitigate counterparty risk for clients while trading with multiple exchanges facilitated by just one trusted account.
15% - Platform Development and Operations. Funds allocated here will be used for salaries, office space, sub-contractor software development work, travel, and other operational expenses.
5% - Legal and Compliance. As the regulatory framework around cryptocurrency coalesces in multiple jurisdictions, XTRD expects to work hand in hand with regulators and be ahead of the curve in terms of regulatory adherence, rule drafting, necessary registrations, and preemptive legal analysis. These are funds well spent.
5% - Sales and Marketing. While the absence of any service comparable the XTRD is likely to lower the bar for customer acquisition costs, XTRD will leverage traditional sales techniques as well as the principals’ internal network to grow the business quickly through 2018 and beyond. A sales and marketing budget is necessary to further this goal.
5% - Tech Acquisition. Harnessing emerging technologies in the crypto execution space is vital to XTRD’s business model. Accordingly, XTRD will allocate funds towards acquiring promising tech deemed complementary to XTRD’s core mission of delivering robust, innovative technologies and creating a higher standard of service and functionality in the cryptocurrency space”.
ROADMAP
An updated roadmap is coming soon.
TEAM
XTRD IN MEDIA
●
Bloomberg Markets Bitcoin Growing Pains. Bloomberg
●
XTRD Brings Wall St Trading Infrastructure To Crypto Markets - Fintech News
●
Bad Crypto Meets Alex Kravets - Podcast Interview
●
Alex Kravets On Modernizing Crypto Exchanges - Podcast Interview
●
How Exchanges Work On Wall Street And How They Will Work In Crypto Markets - Crypto 101 Podcast
●
Ethereum Outperforms Bitcoin - Article Feature
●
Crypto Markets Are Broken - CoinTelegraph Alex Guest Writer
●
Wall Street Comes To Crypto - CryptoCoinNews Article / Interview
●
Cryptocurrency Businesses Real Value - Business News Daily
●
Cryptocurrency Market Psychology - CBS News
●
Bitcoin Slides Again - Expert Option - Reuters
XTRD LINKS
Website:
www.xtrd.io White Paper:
https://xtrd.io/xtrd_whitepaper.pdf Latest community update:
http://bit.ly/2kU8auz Contract Address:
https://etherscan.io/token/0x9c794f933b4dd8b49031a79b0f924d68bef43992 Twitter:
https://twitter.com/xtradeioFacebook:
https://www.facebook.com/xtradeio/ LinkedIn:
https://www.linkedin.com/company/18273025Bitcointalk pre TGE thread:
https://bitcointalk.org/index.php?topic=2720300.0 Telegram Community:
https://t.me/xtradecommunity Telegram Announcements:
https://t.me/xtradeannoucements Medium:
https://medium.com/@community.xtrd Reddit:
https://www.reddit.com/r/XtradeIO YouTube:
https://www.youtube.com/channel/UC38G24IeRuV8uCLz-dJJ3Uw LOCAL THREADS AND DOCUMENTS
