https://imgur.com/gud9LOUMission
What do BTC-e, Poloniex, Cryptsy, Bter, Bitcurex, and Cryptopia (to name some) have in common? All of these exchanges failed. In a clear majority of the failures, users have lost all of their holdings. The common thread with all of these failed exchanges: no corporate governance. The group behind this project has been directly affected by all of those exchange failures. Each one of us has lost time, coins, and faith in cryptocurrency exchanges. An exchange that operates openly, honestly, and transparently is needed.
Goals
Fides Exchange stands for the transparent and honest operations of a cryptocurrency exchange. The exchange takes security, support, and service very seriously having already seen how most exchanges handle these matters. Communication will not be sporadic or non-existent. Standard financial market practices are followed. Decisions are made as a group for the benefit of the exchange and users, not individuals.
How it works
Fides Exchange centers around key principles of blockchain and decentralization. Decision making at all levels is decentralized to all directors of the exchange, governing board members, and investors. Months have been spend building the business procedures and operations and not built around the technology.
The core principles of the exchange:
- All investors and shareholders will be have access to the P&L statements.
- All investors, shareholders, and directors are a part of the decision process (voting).
- All directors will be required to vote on all issues on the exchange.
- There is no hierarchical structure where decision-making is consolidated.
- Investors and shareholders will vote on future exchange services and features.
- Security, service, and support are paramount
- Investors and shareholders will always be given dividends with a complete accounting
- Account audits will be performed and published annually
- Legal representation from the start
www.fides-ex.com
