Blockchain.io is a project of Paymium.com, the first European fiat to Bitcoin exchange and the only french exchange. Founded in February 2018, Blockchain.io will be fully compliant under European regulations and certified by external auditors, just like Paymium. It will benefit from Paymium’s strong reputation of having the highest operating standards and values in security, reliability, and accountability. Blockchain.io will be fully dedicated to crypto-trading while Paymium will remain the privileged hub for fiat currencies.
I. Main functionalities
Blockchain.io aims to be the cryptocurrency exchange of trust for individual and institutional traders and investors. It aims to combine a state-of-the-art low-latency cryptocurrency exchange with advanced decentralized settlement using the latest “trustless” cross-chain trading protocols to settle trades without the need for a trusted third-party or counterparty.
The three pillars of Blockchain.io’s offering are:
- Cryptocurrency Exchange : With asset custody services, advanced trading features, and proven security procedures to protect customer databases, digital assets, inventories, order book, and the order matching engine.
- Decentralized Settlement : Fair-exchange (“trustless”) protocols allowing atomic swaps, i.e. atomic cross-chain trading of cryptocurrencies without the need for a trusted third-party. The decentralized settlement eliminates the counterparty risk.
- Liquidity Services: Blockchain.io will offer listing services for selected tokens, i.e. tokens strictly vetted by technology and business due diligences. The company will also offer ICO services, such as the planning and execution of selected ICO campaigns, and market-making services.
II. Essential Features
The main features of the cryptocurrency exchange Blockchain.io are:
- Ultra-Secure & Decentralized : The centralized part of the exchange offers highly secure custody services with cold storage and cryptographic proof of reserve. Cryptocurrencies are held in cold storage (offline) for at least 98% of reserves.
- Fully Compliant & Transparent : Exhaustive accounting records are audited by independent professional auditors to ensure the integrity of the trading platform. The exchange aims to comply with all current applicable EU regulations, ensuring that assets never get seized or frozen.
- Reliable Infrastructure : Minimal downtime, typically restricted to server maintenance, application upgrades, or database migration. Resilience under high volume, heavy traffic conditions, or DDoS attacks, and no technical debt.
- Select Digital Currencies : Cryptocurrencies will be listed on the trading platform following a strict vetting process (sustainability, technical, and deep protocol review) by our team of blockchain experts. Regular updates and publications will inform platform stakeholders and the community through altcoin technical reviews and financial analyses.
- ICO Execution & Token Listing : Blockchain.io will provide ICO campaign support and token listing services to assist entrepreneurs and technologists in the planning and execution of their fundraising campaigns.
Blockchain.io will provide an intuitive trading experience catering to the needs of both individual and institutional traders and investors : High Performance Matching, Basic & Advanced Orders, Transparent Auctions, Peer-to-peer Lending, Proprietary Lending, Short & Long Margin Trading.
III. The Token
Blockchain.io coins are called BCIO Tokens. BCIO Tokens are utility coins, designed to provide a smooth and secure experience for cryptocurrency traders and users on our trading platform. BCIO Tokens will be held in a wallet on the Exchange. Each user will hold a certain number of Tokens both for services and to perform operations on the exchange.
What are BCIO Token usages ?
- Fees : Users have the choice to pay any platform fees (trading, borrowing, transfers, token listing, initial coin offerings, etc.) either in BCIO Tokens or in other crypt ocurrencies. All Services and Transaction fees paid in BCIO Tokens or cryptocurrencies are automatically deducted from the User’s corresponding Wallet, once the Service or the Transaction is executed. If the User does not hold the required number of tokens or coins, the Service will not be provided or the Transaction will not be executed. All Exchange trades are subject to trading fees with the exception for BCIO Tokens 'long' trades.
- Discounted Trading : Platform fees paid in BCIO Tokens are subject to discounts. Fees will be discounted in various ways. Some will depend on the size of the BCIO Tokens balance held on a User Exchange Wallet. Discount sizes will be determined according to the tier associated to the size of the BCIO Tokens balance. Discount percentages associated with each tier will be decided by Paymium management after the Token Sale following a global survey of BCIO Token holders.
- Survey Participation Rights : Blockchain.io intends to foster a vibrant community. As such, Blockchain.io will regularly organize surveys and polls regarding the introduction of new features or the listing of third party tokens. These improvements suggestions will be submitted to the community of BCIO Token holders for consultation purposes. Token holders will thus be able to contribute to Blockchain.io’s roadmap. Each User’s voting rights and weight will be proportionate to the number of Tokens held in the User’s Exchange Wallet at the time of the vote. Paymium will retain the right to decide any issue irrespective of the results of any vote.
- Loyalty & Rewards : BCIO Tokens will be used to incentivize Exchange usage and reward external developers, as well as existing Paymium users and early Blockchain.io adopters and supporters.
BCIO Token Distribution
Paymium currently intends to create 100 million BCIO Tokens (ERC20) of which 55 million (55%) are offered for sale through various successive sale phases. The remaining 45 million will be distributed as follows:
- 16% to the BCIO team members;
- 4% to advisors;
- 10% will be reserved for marketing and ecosystem; and
- 15% will be placed in the Token inventory
Use of proceeds
Funds raised during the Token Sale will be used as follows:
- 40% will be allocated to marketing, incentives and development programs to create an extensive user base
- 25% will be used for operational expenses, including Liquidity Services and the implementation of high-quality 24/7/365 customer support platforms
- 25% will be allocated to platform design and features development (high performance order matching, trading, decentralized settlement, lending, etc)
- 10% will cover other expenses such as legal or administrative
IV. The Token Sale
The Token Sale period will begin on September 27, 2018 and will end on October 25, 2018, or at any time before October 25, 2018, when the Hard Cap is reached. Blockchain.io’s exchange will launch in November 2018, right after the Token Sale ends. Following this, BCIO tokens will be distributed several weeks later in December 2018 to ensure there is adequate liquidity on the exchange platform before tokens are distributed. In the meantime, a beta version of our exchange will be released to the public before the Token Sale begins for any users who would like to test out our exchange.
Participants will be incentivized with Token bonuses, which will be granted as follow:
- Day 1 - Token Sale opens with 25% bonus;
- Week 1 - Bonus decreases to 15%;
- Week 2 - Bonus decreases to 10%;
- Week 3 - Bonus decreases to 5%;
- Week 4 - No bonus.
For more information about the token sale, visit Blockchain.io.