ParamountDax is marketed as a crypto-crypto-crypto-fiat trading platform; this is guaranteed by the fact that even before the official launch, this exchange has already received licenses for direct crypto-fiat exchange and the right to provide services related to the PRDX TOKEN wallet
Like any ICO, respect for fund-raising start-up occurs through the sale of a token. In this case, ParamountDax launched the PRDX token whose current value is 0.15. The decisive factor that draws the line between bankruptcy projects and potentially important projects is to “secure” their token a key function in the project. PRDX refers to the second case, since it will be very convenient to store a certain amount of this token within the exchange (based on the capital that you can afford to invest) ParamountDax, in fact, decided to follow the footsteps of the Binance and KuCoin gauges exchange, since it “rewards” the owners tokens at the expense of trade commission discount and PRDX daily remuneration.
Trade Charges
ParamountDax sales fees are as follows: 0.12% for Maker orders and 0.25% for Taker orders (the definition of Maker and Taker can be found here. For PRDX owners, discounts on fees follow this simple table: Daily reward
ParamountDax is definitely dividend distribution mechanism for PRDX holders: These dividends come from daily trading fees, and ParamountDax reserves 46% of this amount to divide it among PRDX holders, as shown in the following table. As you can see, there are 4 different groups in the first place : silver, gold, platinum and black, separated according to the amount of PRDX belonging to one investor (second column).
The third column shows how the percentages of sales fees are distributed to different groups. For Silver Line, 25% of the daily fees are reserved, but it will also be divided into 3 other groups. Gold Line will have a total share of 25% and an additional 10%, which will be shared only with Platinum and Black Line. The platinum line will have a share of 25 and 10% plus 7%, which will be shared only with blacks; therefore, the latter will have all percentages divided by the previous groups, plus 4%, which he will not share with anyone.
I understand that this is not easy, so I give an example in the Whitepaper project
Suppose the daily volume is 5,000,000 dollars. The
total amount of the commission will be: 5,000,000 x 0.37% (0.25% fraudster 0.12% maker) 18,500
we take the maximum for discounts on trade commissions (first table): 18,500 25% 13.875 The total amount reserved for daily remuneration is: 13.875 46% 6.382
Now let's calculate the number of PRDX tokens reserved for each group, taking into account the current value of the token 0.15:
Silver line: $ 13.875 25% $ 3.468, which corresponds to 23.120 PRDX
Gold line: 13.875 10% 1.387, which corresponds to 9.246 PRDX
Platinum line: 13.875 7% 971 which corresponds to 6.473 PRDX
Black line: 13.875 4% 555 which corresponds to 3700 PRDX
Silver line will share PRDX 23.120 with the other 3 groups (23.120: 4 5780 PRDX), Gold will share PRDX 9.246 with platinum and black line, then 9.246: 3 3.082 PRDX. Platinum divides 6,473 PRDX with a black line, for which 6,473: 2 is 3,236, while the black line will have 3,700 PRDX in full.
The total number of PRDX that will fall into different groups:
Silver Line: 5.780 PDRX
Gold Line: 5.780 3.082 8.862 PRDX
Platinum Line: 5.780 3.082 3.236 12.098 PRDX
Black Line: 5.780 3.082 3.236 3.700 9.798 PRDX The PramountDax
program then determines how many PRDX are in different groups.
Assuming that:
Silver Line 35,000,000 PRDX tokens
Gold Line has 20,000,000 PRDX tokens
in a platinum line 15,000,000 PRDX tokens
on the Black Line 10,000,000 PRDX tokens
The reward for each token will be:
for Silver Line 5.780: 35.000.000 0.000165 PRDX
for the gold line 8 862: 20 000 000 0 000443 PRDX
for the Platinum Line 12.098: 15.000.000 0.000806 PRDX
for the black line 15 798: 10 000 000 0.001579 PRDX
For the total reward, multiply the reward by the number of PRDX held, for example:
for 5000 PRDX (Silver Line) the reward will be: 5000 x 0.000165 0.825 PDRX ($ 0.12 per day).
owning 13,000 PRDX (Gold Line), the reward will be: 13,000 x 0 000443 5,759 PRDX 0.86 per day)
owning 30,000 PRDX (Platinum Line), the reward will be: 30,000 x 0 000806 24.18 PRDX 3.6 per day)
for 60,000 PRDX (black line) the reward will be: 60,000 x 0,001579 94,74 PRDX 14,2 per day)
We understand how changing daily volumes and cost of a token even daily rewards change.
This reward system will surpass the current KuCoin system, which takes 50% of daily fees and distributes remuneration for each token that is equal to all.
Other strengths of the project:
The strengths of this project include: a liquidity pool, trading from a chart, burglary insurance, and over-the-counter market support (without a prescription). Let's analyze them one by one.
Liquidity pool
One of the biggest problems for exchanges, especially in the first period after launch, is liquidity, an important parameter that allows users to trade in a short time. ParamountDax solved this problem by guaranteeing a collective pool of liquidity, which consists of an order book shared by various exchanges.
Trading with a Chart (TFC) The
tool is definitely innovative in the world is the exchange of trade criptovalute from a chart. This type of trading is one of the characteristics of MetaTrader, one of the most popular Forex trading platforms in the world. Thanks to this feature, you can open / close positions, set or move stop loss / take profit simply by clicking on the chart. This is another factor that distinguishes PramountDax from other exchanges.
Burglary Insurance
Exchange must first guarantee a good level of security for users. Many traders saw the exchange emptying their funds due to hacker attacks. No exchange can be considered safe, just think that Binance (exchange No. 1 in the world) was stolen from 7,000 BTC after hacking. Binance in this case turned out to be a serious exchange and, thanks to a foundation that was created independently, guaranteed its return to users of everything that was stolen from them.
ParamountDax wants to adhere to the same position and immediately decided to insure against possible hacker attacks for the mistakes of employees of the same company. If during the ICO 9,310,000 dollars is raised, ParamountDax will receive insurance with BitGo, which will cover the amount of 100,000,000 dollars.
OTC Market (OTC) The
OTC market is increasingly used in the bitcoin market, especially by large investors. This is a market in which negotiations take place outside the stock exchange, and the price is determined based on the supply and demand of the two parties.
ParamountDax also implemented this feature, providing a platform for over-the-counter negotiations. Obviously, not everyone will be able to use this service, but only those who have passed the KYC (identity check) and have at least 5000 PRDX tokens. Charges for this market are 0.5%. Thus, ParamountDax also allows those who are not “big whales” to take advantage of the over-the-counter market: at the current exchange rate with an investment of $ 750, you may be eligible to trade on the over-the-counter market.
ICO: details
I have already mentioned that ICO began on May 18 and will end on September 23, 2019.
This period will be divided into 3 parts:
Presale period: from 18/05 to 23/06 and the one who buys the PRDX token will receive a 32% bonus.
Sale period: from 24/06 to 19/08 with a 12% bonus.
Private sales: a period dedicated to institutional and selected investors ( 35% bonus) The
initial price, as already mentioned, is $ 0.15 for the PRDX token, and the minimum purchase is 500 PRDX ($ 75). Tokens not sold during an ICO will be burned.
The policy of repurchase and burning is very interesting. The initial total stock is 100,000,000 PRDX tokens that will continually burn to a total of 65,000,000 tokens: this deflationary maneuver will increase the value of PRDX. The process of redemption and recording will start from 03/30/2020, and every quarter PramountDax will use 5-10% of net profit to record PRDX tokens. Below is a summary table.
The IEO
In the last days in the Telegram group, the team announced that, in addition to holding an ICO, IEO will be launched at the end of June (click here if you want to deepen the topic) on 2-3 leading exchanges.
The names of these exchanges have not yet been disclosed, since the official status is still absent, but the mere fact that the team revealed itself in this way means that the agreements are at an advanced stage. In addition, it was again announced on the telegram that the exchanges in which PRDX will be listed are in the top 30 and 20 in the world.
Detailed information:
Website: https://www.paramountdax.io/
White paper: https://www.paramountdax.io/whitepaper.pdf
Twitter: https://twitter.com/ParamountDax
Telegram: https://t.me/ParamountDaxICO
Author by : mamah67
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