Streamity to Launch a Truly Decentralized Cryptocurrency Exchange Powered by Smart Contracts
by Polina Chernykh · 3 min read
Streamity enters the decentralized exchange market with a service designed to lower fees, increase liquidity and improve security.
The cryptocurrency market experienced exponential growth last year. With the ongoing development of new currencies the industry is expected to reach even more heights this year. Furthermore, the market cap of both individual virtual currencies and overall market continues to expand worldwide.
Given this unprecedented growth, there have to be easy ways of acquiring cryptocurrency (either with fiat or digital money). A number of crypto exchanges already exist on the market, but most of them have some serious drawbacks, such as lack of security and high commissions.
As more funds have poured into the cryptocurrency sector, the exchanges have become more vulnerable to criminals. Over the last few years, many of them have experienced cyber attacks that resulted in huge losses for investors. Moreover, in order to avoid the risks of cryptocurrency trading, current platforms charge high commissions for their services or significantly raise exchange rates.
Streamity is a new project that aims to change the cryptocurrency exchange ecosystem. The key element of the service is a StreamDesk aggregator, which enables users to exchange fiat and virtual money at the best price directly between each other without any intermediaries.
“Our mission is to contribute into development of the crypto-community security,” the startup explains. “We will develop a fair and completely transparent StreamDesk service for exchange of cryptocurrencies for fiat currencies without intermediaries, which will save your money, and will protect our users from fraud, so common to this market, by means of smart contracts.
While providing maximum security, Streamity ensures low transaction fees that depend on the volume of exchanges. Membership fees are based on the monthly amount of funds exchanged and start at $1 per month. The top package with unlimited exchange services is priced at $5,000 per month, while those who will exchange less than $1 million per month will be charged $1,500.
Each deal on the platform is executed manually, with its price being calculated in real time as an average price of deals on the main cryptocurrency exchange markets. In addition to the cryptocurrency exchange service, it will offer real-time market data, ICO schedules with recommendations, and crypto capitalization. Besides, the system is easy and convenient in usage. For instance, to exchange 1 BTC for 10 ETH, a user has to enter 1 BTC in the “sell” window and 10 ETH in the “buy” window and enter both bitcoin and ethereum wallet addresses. After accepting the terms, the platform will issue the smart contract to conduct the exchange and transfer of coins.
Streamity has its own STM tokens that can be used for all transactions within the network. They will be available on major exchanges, what will allow their easy entrance into the global crypto industry. Currently, STMs are worth $0.2 per token. Users who possessed more than 1,250 tokens will get bulk discounts on exchange services as well as other system privileges.
Membership fees are based on the monthly amount of funds exchanged and start at $1 per month. The top package with unlimited exchange services is priced at $5,000 per month, while those who will exchange less than $1 million per month will be charged $1,500.
On January 22, 2018, the team is launching a pre-sale that will continue until January 28, 2018. The startup plans to raise $2.8 million through the sale of 20 million tokens. The pre-sale will be followed by an ICO that will run from March 12, 2018, till March 25, 2018. Overall, 186 million tokens will be distributed during the crowdsale. According to Streamity, most of the funds raised will go on the project development, while the remaining money will be spent on marketing, lawyers, and reserve fund.
Polina is an undergraduate student at Belarusian State Economic University (BSEU) where she is studying at the faculty of International Business Communication for a degree specializing in Intercultural Communication. In her spare time she enjoys drawing, music and travelling.