MaZeeCM
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Activity: 238
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July 28, 2018, 03:54:35 PM |
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Is it going to be possible to trade SOUK on other exchanges?
In the future, Souk can be tradable but generally its a utility token. We will provide more details on that in the future. TOKENS WILL BE UTILIZED IN THREE PRIMARY WAYS: 1. Tokens will be redeemable to pay trading, transfer and other fees at a discount of at least 30%. We reserve the right to create special promotions and windows where token discounts on fees will be higher for a period of time, but they will always be worth a discount of at least 30%. Certain pre-ICO and early ICO coin buyers will get an additional discount applied to the general fee discount. 2. Tokens will be the method of payment for the listing of new asset pairs from projects that also meet our diligence review for soundness. 3. The company will, after $1,000,000.00 in initial profit as calculated under standard IFRS rules, use 20% of it’s quarterly profit from the previous quarter to acquire and burn SOUK tokens from the market in the current quarter. The company has the right to purchase tokens before the $1 million milestone and can, at its option, acquire more than the required 20% in any given quarter at its sole election. The company will continue to acquire SOUK tokens until there are less than 5.6 million outstanding tokens. However, the company, at its sole discretion, can re-acquire and burn all 52 million tokens originally issued. Isn't it too much to burn that many tokens? Hi, I understand your concern. But, it's the company's discretion to Re-Acquire it too, or to just burn it all. Thanks! Best Regards, MaZeeCM
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midjimidji
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July 28, 2018, 04:17:38 PM |
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Is it going to be possible to trade SOUK on other exchanges?
In the future, Souk can be tradable but generally its a utility token. We will provide more details on that in the future. TOKENS WILL BE UTILIZED IN THREE PRIMARY WAYS: 1. Tokens will be redeemable to pay trading, transfer and other fees at a discount of at least 30%. We reserve the right to create special promotions and windows where token discounts on fees will be higher for a period of time, but they will always be worth a discount of at least 30%. Certain pre-ICO and early ICO coin buyers will get an additional discount applied to the general fee discount. 2. Tokens will be the method of payment for the listing of new asset pairs from projects that also meet our diligence review for soundness. 3. The company will, after $1,000,000.00 in initial profit as calculated under standard IFRS rules, use 20% of it’s quarterly profit from the previous quarter to acquire and burn SOUK tokens from the market in the current quarter. The company has the right to purchase tokens before the $1 million milestone and can, at its option, acquire more than the required 20% in any given quarter at its sole election. The company will continue to acquire SOUK tokens until there are less than 5.6 million outstanding tokens. However, the company, at its sole discretion, can re-acquire and burn all 52 million tokens originally issued. What does it mean that in future SOAK will be tradable? What will be the influence?
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Shayesmiles
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July 28, 2018, 04:22:49 PM |
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Interesting idea for crypto exchange targeted at the middle east region. Is the exchange established already?
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EmNg
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Activity: 65
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July 28, 2018, 04:32:01 PM |
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Is it going to be possible to trade SOUK on other exchanges?
In the future, Souk can be tradable but generally its a utility token. We will provide more details on that in the future. TOKENS WILL BE UTILIZED IN THREE PRIMARY WAYS: 1. Tokens will be redeemable to pay trading, transfer and other fees at a discount of at least 30%. We reserve the right to create special promotions and windows where token discounts on fees will be higher for a period of time, but they will always be worth a discount of at least 30%. Certain pre-ICO and early ICO coin buyers will get an additional discount applied to the general fee discount. 2. Tokens will be the method of payment for the listing of new asset pairs from projects that also meet our diligence review for soundness. 3. The company will, after $1,000,000.00 in initial profit as calculated under standard IFRS rules, use 20% of it’s quarterly profit from the previous quarter to acquire and burn SOUK tokens from the market in the current quarter. The company has the right to purchase tokens before the $1 million milestone and can, at its option, acquire more than the required 20% in any given quarter at its sole election. The company will continue to acquire SOUK tokens until there are less than 5.6 million outstanding tokens. However, the company, at its sole discretion, can re-acquire and burn all 52 million tokens originally issued. What does it mean that in future SOAK will be tradable? What will be the influence? Souk will also be available on exchanges like every other token when the time comes... Best regards Em Ng Mazee
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EmNg
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July 28, 2018, 04:35:20 PM |
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Interesting idea for crypto exchange targeted at the middle east region. Is the exchange established already?
There is a demo version which you can sign up and get funded with 1000usd just for demo purpose only can't be withdrawn... https://cryptosouk.exchangeBest Regards Em Ng Mazee
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buraz
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July 28, 2018, 04:40:57 PM |
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Interesting idea for crypto exchange targeted at the middle east region. Is the exchange established already?
There is a demo version which you can sign up and get funded with 1000usd just for demo purpose only can't be withdrawn... https://cryptosouk.exchangeBest Regards Em Ng Mazee Wow this great! Will check it right away
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Licimur
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July 28, 2018, 08:13:17 PM |
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I read recently that Bancor exchange was hacked.How you plan to protect your users?
We will be using the following for security and technology of our platform: Our technology is oriented towards simplicity, security, and reliability to support a rich array of features. Top of the line trading UI - CryptoSouk is a premier trading and financial technology company. We’ve built the best digital asset exchange by focusing on the needs of professional traders and digital currency experts. We are dedicated to making digital currency trading accessible, fast and totally secure. • Enterprise matching engine with execution ability of 1 Million transactions persecond • Native Charting • Advanced APIs to access or provide liquidity to others • Multiple integration ability for KYC/AML, Banking/PSPs • 20+ order options including but not limited to; FILL or KILL, IOC, STOP, LIMIT, etc. • Interoperability with Traditional and DLT infrastructure • Institutional Grade Security combined Cold/Warm/Hot Wallet rule based systems Its great to see that you are really thinking about the security!
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Crazy_Heart
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July 28, 2018, 08:38:11 PM |
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Is it going to be possible to trade SOUK on other exchanges?
In the future, Souk can be tradable but generally its a utility token. We will provide more details on that in the future. TOKENS WILL BE UTILIZED IN THREE PRIMARY WAYS: 1. Tokens will be redeemable to pay trading, transfer and other fees at a discount of at least 30%. We reserve the right to create special promotions and windows where token discounts on fees will be higher for a period of time, but they will always be worth a discount of at least 30%. Certain pre-ICO and early ICO coin buyers will get an additional discount applied to the general fee discount. 2. Tokens will be the method of payment for the listing of new asset pairs from projects that also meet our diligence review for soundness. 3. The company will, after $1,000,000.00 in initial profit as calculated under standard IFRS rules, use 20% of it’s quarterly profit from the previous quarter to acquire and burn SOUK tokens from the market in the current quarter. The company has the right to purchase tokens before the $1 million milestone and can, at its option, acquire more than the required 20% in any given quarter at its sole election. The company will continue to acquire SOUK tokens until there are less than 5.6 million outstanding tokens. However, the company, at its sole discretion, can re-acquire and burn all 52 million tokens originally issued. Isn't it too much to burn that many tokens? That's usually the best way to protect the value of sold tokens
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Avdogado
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Activity: 187
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July 28, 2018, 08:53:31 PM |
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Is it going to be possible to trade SOUK on other exchanges?
In the future, Souk can be tradable but generally its a utility token. We will provide more details on that in the future. TOKENS WILL BE UTILIZED IN THREE PRIMARY WAYS: 1. Tokens will be redeemable to pay trading, transfer and other fees at a discount of at least 30%. We reserve the right to create special promotions and windows where token discounts on fees will be higher for a period of time, but they will always be worth a discount of at least 30%. Certain pre-ICO and early ICO coin buyers will get an additional discount applied to the general fee discount. 2. Tokens will be the method of payment for the listing of new asset pairs from projects that also meet our diligence review for soundness. 3. The company will, after $1,000,000.00 in initial profit as calculated under standard IFRS rules, use 20% of it’s quarterly profit from the previous quarter to acquire and burn SOUK tokens from the market in the current quarter. The company has the right to purchase tokens before the $1 million milestone and can, at its option, acquire more than the required 20% in any given quarter at its sole election. The company will continue to acquire SOUK tokens until there are less than 5.6 million outstanding tokens. However, the company, at its sole discretion, can re-acquire and burn all 52 million tokens originally issued. This will all be possible on Cryptosouk exchange, he mean't will we be able to trade souk on other exchanges I think.
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BoycieBuahaha
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Activity: 152
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July 28, 2018, 09:10:24 PM |
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I read recently that Bancor exchange was hacked.How you plan to protect your users?
We will be using the following for security and technology of our platform: Our technology is oriented towards simplicity, security, and reliability to support a rich array of features. Top of the line trading UI - CryptoSouk is a premier trading and financial technology company. We’ve built the best digital asset exchange by focusing on the needs of professional traders and digital currency experts. We are dedicated to making digital currency trading accessible, fast and totally secure. • Enterprise matching engine with execution ability of 1 Million transactions persecond • Native Charting • Advanced APIs to access or provide liquidity to others • Multiple integration ability for KYC/AML, Banking/PSPs • 20+ order options including but not limited to; FILL or KILL, IOC, STOP, LIMIT, etc. • Interoperability with Traditional and DLT infrastructure • Institutional Grade Security combined Cold/Warm/Hot Wallet rule based systems This answer was focused more towards features of the exchange, can you elaborate more on security?
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Sengjen
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Activity: 175
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July 28, 2018, 09:25:22 PM |
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Interesting idea for crypto exchange targeted at the middle east region. Is the exchange established already?
There is a demo version which you can sign up and get funded with 1000usd just for demo purpose only can't be withdrawn... https://cryptosouk.exchangeBest Regards Em Ng Mazee So it is still possible to get that bonus for testing, that is awesome , didn't know about it
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Beltalowda
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Activity: 171
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July 28, 2018, 09:39:45 PM |
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Is it going to be possible to trade SOUK on other exchanges?
In the future, Souk can be tradable but generally its a utility token. We will provide more details on that in the future. TOKENS WILL BE UTILIZED IN THREE PRIMARY WAYS: 1. Tokens will be redeemable to pay trading, transfer and other fees at a discount of at least 30%. We reserve the right to create special promotions and windows where token discounts on fees will be higher for a period of time, but they will always be worth a discount of at least 30%. Certain pre-ICO and early ICO coin buyers will get an additional discount applied to the general fee discount. 2. Tokens will be the method of payment for the listing of new asset pairs from projects that also meet our diligence review for soundness. 3. The company will, after $1,000,000.00 in initial profit as calculated under standard IFRS rules, use 20% of it’s quarterly profit from the previous quarter to acquire and burn SOUK tokens from the market in the current quarter. The company has the right to purchase tokens before the $1 million milestone and can, at its option, acquire more than the required 20% in any given quarter at its sole election. The company will continue to acquire SOUK tokens until there are less than 5.6 million outstanding tokens. However, the company, at its sole discretion, can re-acquire and burn all 52 million tokens originally issued. Isn't it too much to burn that many tokens? That's usually the best way to protect the value of sold tokens There are projects that burned much more coins then this amount here.
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innerDemon
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Activity: 176
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July 28, 2018, 10:22:32 PM |
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Is it going to be possible to trade SOUK on other exchanges?
In the future, Souk can be tradable but generally its a utility token. We will provide more details on that in the future. TOKENS WILL BE UTILIZED IN THREE PRIMARY WAYS: 1. Tokens will be redeemable to pay trading, transfer and other fees at a discount of at least 30%. We reserve the right to create special promotions and windows where token discounts on fees will be higher for a period of time, but they will always be worth a discount of at least 30%. Certain pre-ICO and early ICO coin buyers will get an additional discount applied to the general fee discount. 2. Tokens will be the method of payment for the listing of new asset pairs from projects that also meet our diligence review for soundness. 3. The company will, after $1,000,000.00 in initial profit as calculated under standard IFRS rules, use 20% of it’s quarterly profit from the previous quarter to acquire and burn SOUK tokens from the market in the current quarter. The company has the right to purchase tokens before the $1 million milestone and can, at its option, acquire more than the required 20% in any given quarter at its sole election. The company will continue to acquire SOUK tokens until there are less than 5.6 million outstanding tokens. However, the company, at its sole discretion, can re-acquire and burn all 52 million tokens originally issued. Isn't it too much to burn that many tokens? That's usually the best way to protect the value of sold tokens There are projects that burned much more coins then this amount here. So if I understand correctly, extra tokens are burned and the after that the following coins are generate through mining?
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not4mike
Jr. Member
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Activity: 137
Merit: 3
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July 29, 2018, 03:11:16 AM |
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Is it going to be possible to trade SOUK on other exchanges?
In the future, Souk can be tradable but generally its a utility token. We will provide more details on that in the future. TOKENS WILL BE UTILIZED IN THREE PRIMARY WAYS: 1. Tokens will be redeemable to pay trading, transfer and other fees at a discount of at least 30%. We reserve the right to create special promotions and windows where token discounts on fees will be higher for a period of time, but they will always be worth a discount of at least 30%. Certain pre-ICO and early ICO coin buyers will get an additional discount applied to the general fee discount. 2. Tokens will be the method of payment for the listing of new asset pairs from projects that also meet our diligence review for soundness. 3. The company will, after $1,000,000.00 in initial profit as calculated under standard IFRS rules, use 20% of it’s quarterly profit from the previous quarter to acquire and burn SOUK tokens from the market in the current quarter. The company has the right to purchase tokens before the $1 million milestone and can, at its option, acquire more than the required 20% in any given quarter at its sole election. The company will continue to acquire SOUK tokens until there are less than 5.6 million outstanding tokens. However, the company, at its sole discretion, can re-acquire and burn all 52 million tokens originally issued. Isn't it too much to burn that many tokens? That's usually the best way to protect the value of sold tokens There are projects that burned much more coins then this amount here. So if I understand correctly, extra tokens are burned and the after that the following coins are generate through mining? Actually, no! Nothing is certain until it's certain! Meaning the TOKENS WILL BE UTILIZED IN THREE PRIMARY WAYS according to the details above, including the reasons behind it, if and when the company decides, at its option or sole discretion on whether to exercise them or not later.
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james7854
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July 29, 2018, 01:23:41 PM |
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Interesting idea for crypto exchange targeted at the middle east region. Is the exchange established already?
There is a demo version which you can sign up and get funded with 1000usd just for demo purpose only can't be withdrawn... https://cryptosouk.exchangeBest Regards Em Ng Mazee Wow this great! Will check it right away Me too. its great to have an option to try demo before it goes into production.
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sexymadafaka
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Activity: 182
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July 29, 2018, 01:33:46 PM |
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Interesting idea for crypto exchange targeted at the middle east region. Is the exchange established already?
There is a demo version which you can sign up and get funded with 1000usd just for demo purpose only can't be withdrawn... https://cryptosouk.exchangeBest Regards Em Ng Mazee Wow this great! Will check it right away Me too. its great to have an option to try demo before it goes into production. Demo should certanly be a must have in crypto today.
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Ajutokintumi
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July 29, 2018, 02:56:42 PM |
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Can you please share token metrics,and token allocation?
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NoMoreTears
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July 29, 2018, 03:10:40 PM |
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Which currencies do you accept? I presume ETH and BTC, any other currency?Maybe Fiat?
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EmNg
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July 29, 2018, 04:52:44 PM |
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Which currencies do you accept? I presume ETH and BTC, any other currency?Maybe Fiat?
Yes that will be on the list Join telegram channel so you get real time response about project follow the link to connect with us on telegram https://t.me/cryptosouk_community_enBest Regards Em Ng Mazee
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