As it has been officially announced, EXMO, one of the leading cryptocurrency exchanges, is going to add margin loans as the key feature of the platform. The company’s main goal is to develop a new way of trading, which will allow traders to to earn more on currency fluctuations by borrowing extra funds. In order to attract potential investors and increase awareness around the world, the company has introduced its very own token called EXMO Coin (EXO), the crowdsale of which is set on February 26, 2018.
Currently, EXMO plans to offer its customers 1:2 leverages for a margin loan on the most popular BTC, ETH, and USD order books. The range of options offered by the platform is expected to expand further on with an increasing demand for the service.
Founded in 2013, EXMO now represents itself as an established cryptocurrency exchange platform with over 4 years of successful trading experience. During the period from 2014 to 2017 its trading volume has demonstrated significantly positive dynamic, having grown from $192 mln to $1.8 bln, with the amount of deals having reached 24 mln. The client base swelled by 188% in 2017. There are already more than 700,000 registered users on EXMO platform. EXMO Coin will correlate with EXMO’s overall performance, as well as exchange rates of other currencies on the platform.
The forthcoming crowdsale is targeted at giving the already profitable platform an additional boost for rapid development. EXMO representatives claim that half of the investment raised through the crowdsale will be used to cover the increasing demand for margin loans, and another quarter will be put into the overall cryptocurrency exchange development. The rest will go into establishing the margin loan insurance fund, acquiring the necessary licensing for simplifying the fiat money transactions, and covering marketing expenses.
Ivan Petukhovsky, EXMO co-founder, explains:
We at EXMO believe that cryptocurrency trading must offer the same variety of investment tools as ordinary trading. We look to the future and would like to foster this development through bringing the virtual and real economies closer, and giving more people opportunities to invest and earn with just a click. Issuing the EXMO Coin will enable us to satisfy the demand of hundreds of thousands of traders, and develop an even more resilient, reliable, and truly global exchange platform.
Every month token holders will receive 50% of the revenue derived from margin loans distributed among them in the form of dividends. Following the sale, the EXMO Coin will be traded on the EXMO Exchange in pairs such as EXO/BTC and EXO/ETH, and later on with other currencies and altcoins, thus constituting another lucrative asset for its holder. On top of that, EXMO will guarantee token buyout.
The awaited crowdsale will start on February 26, 2018 and will last until March 26, 2018.