AbacasXchange
| AbacasXchange | |
|---|---|
 AbacasXchange ICO Review | |
| AbacasXchange ICO | |
| Ticker: | ABCS |
| ICO start: | 2018-06-15 00:00:00 |
| ICO end: | 2018-07-15 00:00:00 |
| Price: | 1 ABCS = 1.40 USD |
| Bonus: | 1 |
| Tokens: | 30,000,000 ABCS |
| Tokentype: | ERC20 |
| Hardcap: | 32 187 500 USD |
| Softcap: | 2 805 000 USD |
| Platform: | Ethereum |
| Distributed: | 55% |
| Minimum: | 1 ETH |
| Accepting: | ETH, BTC |
AbacasXchange solves a number of problems: // Typically, it takes a minimum of 3 and as many as 5 fees to trade one asset for another. In contrast, Abacas allows you to exchange AAPL stock for BTC in 1 transaction. // Both traditional and cryptocurrency exchanges have been known for “gaming” their clients by using system tweaks. In other words, there has been a lack of transparency. All transactions on AbacasXchange are posted on a public ledger and can be viewed by anyone. // Nowadays, trading is mostly binary. You can choose to receive only EUR or only USD or only something else in exchange for the stock you are selling.
AbacasXchange improves liquidity by Direct and Indirect trading. If you want to sell 1000 GOOG, you can decide to receive some GLD or MSFT or BT or EUR or USD or ABCS or BTC. This creates an infinite coincidence of supply. // The AbacasXchange “safety deposit box” provides a decentralized secure backup for your private keys.
Contents
Description
Abacas is a universal exchange that allows you to trade, exchange or transfer any asset (Cryptocurrencies, Stocks, Commodities, etc.)
AbacasXchange stands for fair financial markets and is ethical towards its investors. Crypto-exchanges are fraught with conflicts of interest as they fulfil the role of a matching engine, custodian, broker-dealer, market-maker [at times], settlement agent and order manager. Abacas acts solely as an operator and matching engine. Abacas has no conflicts of interest in its process.
Subject to regulations, the AbacasXchange allows you to tokenize your own assets. For example, you can deposit an asset to custody, it is then tokenized and can be transferred on the AbacasXchange.
What makes AbacasXchange better?
1. One Transaction – you exchange any asset in one transaction. This saves you 50% or more from fees.
2. Fully Transparent – all transactions are posted on a public ledger and can be viewed by anyone.
3. Liquidity Enhancement Direct & Indirect Trading – if you want to sell 1000 GOOG, you can decide to receive some GLD or MSFT or BT or EUR or USD or ABCS or BTC. This creates an infinite coincidence of supply.
4. Asset Security – no chance to lose your private keys.
Why can’t another currency or cryptocurrency be used as a native payment token? For example, USD or ETH.
Imagine a typical transaction in which a client wishes to trade from a mosaic on XEM to an ERC20 token via the exchange. That single transaction may require 8 or 10 “partner chain” validations eg PoA (Proof of Asset), AML/KYC, Value Transfers, custodial validations, regulatory validations subject to asset class – each of these chains and suppliers may have a different pricing models based on their service or asset which means that a client would need to hold many 100s of currencies at any time. This is highly inefficient and impractical. The ABCS readily conveys between all of the chains mitigating the cost and nuisance of the micropayments as it relates to the activity in the AbacasXchange.
How does the transaction process work?
The transaction itself happens as it would on any exchange – order management, price discovery, trade matching and confirmation. For the investor – the client examines the metadata of the asset in which he is considering investment and, based upon the risk profile, decides if this is the asset for him/her. Abacas provides no investment opinion or advice.
The asset to be purchased is exchanged simultaneously for an asset in the buyer’s wallet or account. This means that clearing and settling an internal trade takes seconds not days.
With ABCS, two or more clients can exchange assets of any type in direct transactions; for example, a client can purchase “equity” directly using “gold” in a single transaction. Pre-Abacas, this process would take up to three transactions and up to two fund transfers, each incurring a fee. Where applicable, Abacas uses its partners to ensure that a relevant client transaction meets the regulatory and compliance requirements for the transaction to be consummated eg. AML/KYC, MiFID, PoA.
Highlights about the team:
– In total, more than 100 years experience in the financial industry
– Both founders have had their own successful companies (in the financial industry)
– All advisors are high-quality people
When will the AbacasXchange be operational?
The AbacasXchange will launch in Q1/2 2019. There will be an MVP soon.
Roadmap
| “ | Alpha Release : The alpha version of AbacasXchange will be released in June 2018 Beta Release: The beta version of AbacasXchange will be released in August 2018 Release Candidate #1: The release of Candidate #1 will be in October 2018 AbacasXchange Official Launch: The launch of the official version will be in January 2019[1] | ” |
Team
| name: | title: | links: | group: | photo: | iss: |
|---|---|---|---|---|---|
| Vince Small | Founder, Principal and Head of Technology | https://www.linkedin.com/in/leevi/ | AbacasXchange |  | 3.3 |
| Mark Vanroon | Founder, Principal and Head of Product Development | https://www.linkedin.com/in/mark-vanroon-2409376/ | AbacasXchange |  | 3.3 |
| Stoyan Vlahovski | Community Manager | https://www.linkedin.com/in/stoyanvlahovski/ | AbacasXchange |  | 3.3 |
| Mohan Gandhi Ponnaganti | CEO, Entersoft Security | https://www.linkedin.com/in/mohangandhip/ | Advisors |  | 3.3 |
| Dylan Attwell-Duval | Number theorist, PhD in Mathematics | https://www.linkedin.com/in/dylan-attwell-duval-604858149/ | Advisors |  | 3.3 |
| Jean-Baptiste Cebe | CTO of Seekers Capital Group | https://www.linkedin.com/in/jbcebe/ | Advisors |  | 3.3 |
| Raghunathan Muralidharan | CFO of Tristar Group | https://www.linkedin.com/in/raghumurali/ | Advisors |  | 3.3 |
| David Wong | Chairman & CEO, Director Midpoint.com | https://www.linkedin.com/in/shdwong/ | Advisors |  | 3.3 |
| Sal Recco | CCO, Jaguar Capital | https://www.linkedin.com/in/sal-recco-218aa697/ | Advisors |  | 3.3 |
| Tal Zander | Co-Founder and CEO at FundFantasy | https://www.linkedin.com/in/tal-zander-b571aaab/ | Advisors |  | 3.3 |
| Dan Raykhman | CEO at Fungible Network | https://www.linkedin.com/in/danraykhman/ | Advisors |  | 3.3 |
External links
AbacasXchange on Twitter
AbacasXchange on Telegram
AbacasXchange on Facebook
AbacasXchange on Medium
AbacasXchange on Bitcointalk
[github.com/abacasXchange AbacasXchange on Github]
AbacasXchange on Reddit
AbacasXchange on Youtube
AbacasXchange Official Website
AbacasXchange Bounty
AbacasXchange Whitepaper