Cryptocurrency Trading Platform Leverj Announces Highly-Anticipated Token Generation Event
Platform will use the Ethereum blockchain to facilitate cryptocurrency derivatives trading
NEW YORK, Oct. 11, 2017 /PRNewswire/ -- Leverj, the decentralized platform for cryptocurrency derivatives trading, has today announced its highly-anticipated Token Generation Event (TGE) for its ERC-20 token. This token, LEV, is intended to serve as a license to conduct transactions on the Leverj platform, in proportion to the percentage of tokens staked. The TGE will commence on November 7, 2017 and conclude on December 7, 2017. The token crowdsale will have a hard cap of 115,833 ETH.
Leverj CEO Bharath Rao said: "Leverj aims to render both traditional financial processes and cryptocurrency trading more efficient by eliminating the frictions typically associated with them. By eliminating custodial risk, the platform will offer cryptocurrency derivatives traders enhanced confidence in the stability of their investments. With the support of our community, we plan to implement a seamless non-custodial model of cryptocurrency trading that will offer heightened levels of security and usability."
Leverj aims to use blockchain technology to create a decentralized trading platform in order to improve custodial and counterparty risk, as well as to avoid identity leaks. In an environment in which even the largest and most security-focused exchanges have experienced a loss of funds due to hacking, there is a significant market need for an exchange in which users are given complete control of their assets. Leverj will adapt the most desirable features of derivatives trading to cryptocurrencies, and its revolutionary trading platform will feature advanced tools such as atomic stops and enhanced reporting, including historical trading information about cryptocurrencies. The platform will also include simulated trades, trade replays, and peer subscriptions to gain insight from highly-skilled traders.
Leverj will feature a dual-token system that integrates with the trading platform. The primary token, LEV has a fixed supply and represents the license to make transactions on the platform. The secondary token, FEE, will be used as an accounting mechanism, where Leverj trading fees, denominated in Ether, will be payable in FEE at a fixed ETH price to provide market demand and value. The FEE will be created in proportion to platform trading volume and be distributed to LEV holder who stake their tokens to activate their license. The primary goal of the dual-token system is to ensure that users have access to a liquid market and can receive a discount on the fees they would otherwise pay for in Ethereum.
400 million LEV tokens of the one billion total created will be available for purchase. The TGE is limited to non-residents of the United States and China. The Leverj crowdsale whitelist is available at https://register.leverj.io/. It will open on October 11, 2017 and close on October 23, 2017.
Rao said: "We are excited to commence our TGE and finally bring the much-needed upgrade of a decentralized trading platform to the Ethereum blockchain. Ethereum's advanced capabilities, such as smart contract decentralized apps, make it feasible to decentralize custody of funds, in comparison with alternative protocols like Bitcoin. In addition, Ethereum is a vibrant, focused, and highly-organized community that we are confident will support Leverj as a high-performance, low-latency derivatives platform."
In addition, Leverj is backed by ConsenSys, a leader in blockchain technology, who will serve as a technical advisor to the project. Through extensive experience building software on the Ethereum platform, ConsenSys will provide unparalleled expertise on smart contracts, token design, and cryptographic security.
LEV tokens will be available for purchase using Ethereum. For more information, the Leverj whitepaper is available at: https://www.leverj.io/whitepaper.pdf.
Leverj CEO Bharath Rao is available for interview.
About Leverj
Leverj is a decentralized cryptocurrency derivatives trading platform. Using the Ethereum blockchain, Leverj will provide novice and experienced traders with a more secure and seamless platform for digital currency exchange. The platform will also offer services such as managed and simulated trading, historical data replay, mentorship by experienced traders, and a marketplace for trading indicators and strategies.
Telegram: https://t.me/leverj
Twitter: https://twitter.com/Leverj_io
Contact:
Kerry Close
[email protected]
917-900-7195
SOURCE Leverj
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