Are you Looking for NEX ICO Review ? Could NEX ICO Token Be The Next Big Thing? Are you planning to invest on the newest cryptocurrency in the market? Or are you wondering where to invest your money? Look no further ‘cause we got you! We’ll give you a detailed discussion on the potential next big thing in the market–NEX.
Crypto Trading Crisis: NEX ICO Might Be The Solution
The cryptocurrency trading structure is known to be at a pivotal point in its development. The traditional trading usually takes place on centralized exchanges wherein people’s funds are in danger of hacking and lacks transparency. Hence, exchanging traditional currencies for digital currency has seem to be a barrier to a broad adoption of the masses which needs to be addressed on an extensive level.
These problems are major barriers to the progress of cryptocurrency as an advantage. The benefits of decentralized currency are now being thought of within the crypto users. Decentralized exchanges have allowed users to have control over their funds and as trades are intervened by the smart contracts they have on the blockchain technology. However, currently, the on-chain calculation is mainly very slow to run with the high volume of book orders.
Hence, envisioned by the Neon Exchange founders, these problems are to be addressed by NEX.
- 1 What is NEX ICO Token ? Nex ICO Review
- 2 Who is Behind NEX ICO?
- 3 NEX ICO Review : SWOT – Let’s first have a look on the strengths and opportunities of this upcoming decentralized exchange.
- 4 Now, let’s have a look on the weaknesses and threats that surround NEX ICO.
- 5 NEX ICO Token Distribution
- 6 Conclusion :- NEX ICO Can Make DEX Trading Faster
What is NEX ICO Token ? Nex ICO Review
Neon Exchange or abbreviated as NEX is the newest platform that promotes the utilization of the decentralized currency which is known as cryptocurrency. The platform will be used for cryptocurrency trade and payment use. It uses an openly verifiable off-chain engine that can handle high-trading volume. It can also support complex orders that aren’t achievable on the current decentralized exchanges.
With their value proposition, NEX is the first trading platform to make use of NEO Gas, NEO and its very own NEX token. These three factors serves as a foundation of the base pairs that will be used for trading the NEP-5 tokens.
The NEX Review platform is intended to tackle the linked benefits of the on chain and off-chain solutions. It is designed to receive orders coming from an offline wallet. It can also match bids while off-chain and can also accomplish orders on-chain.
Additionally, the cryptocurrency trading platform introduces a payment portal and fund management layer which allows the third-party smart contracts on the NEO platform to send and receive assets.
Another feature of the cryptocurrency trading website is it offers a smart wallet Chrome extension for users to store currencies off-chain and at the same time, enabling users to instantly trade.
Fabio Canesin, NEX’s Co-founder, has said that the wallet extension is a Meta Mask plus Neon Wallet wherein users can easily access digital trading while safely putting on-hold of their tokens.
The Neon Exchange as a token is called ‘NEX token’. In their initial coin offering period, they will be issuing 50 million tokens to be able to give token holders a share in their earnings from the NEX exchange and payment gateway. In this order, token holders who invest on NEX will directly benefit from the successful outcome of the trading platform. So, when more fees are produced, the more bigger the reward holders get.
Who is Behind NEX ICO?
As we can see on the Neon Exchange Review website, they are very transparent on to who are the people behind the NEX. They even provided a link to their LinkedIn profiles. That just means, NEX is a very promising decentralized exchange platform.
Let’s start off with Fabio Canesin. He is the leader of NEX ICO. Canesin originally created the concept, ‘City of Zion’ which he is also the co-founder of the project. He holds a degree in MSc in Computational Mechanics and Variational Multiscale Modelling. He has comprehensive experience in the gas and oil industry. Also, he is the co-founder of a tech startup company named Lemonaid Learning Analytics which is based in Brazil.
The second co-founder is Ethan Fast. He is also the developer of the NEX platform. He has a PhD in AI and HCI from Stanford University. He is also founded the startup company, Proxino, which is backed by the Y Combinator. He is one of the co-founding members of the City of Zion and creator of the Neon Wallet.
The third co-founder and developer is Fabian Wahle. He has a PhD in Machine Learning and AI from ETH Zurich. Similar to Fast, he is also the co-founding member of the City of Zion. Additionally, he was a CTO and co-founder of the med-tech company, Altoida, which specializes Augmented Reality.
Their advisers are Erik Zhang and Da Hongfei which are the founders of NEO Council. Having the two as NEX advisers puts a great leverage to the new and upcoming decentralized exchange since the projects is also being backed up by Onchain.
NEX ICO Review : SWOT – Let’s first have a look on the strengths and opportunities of this upcoming decentralized exchange.
In terms of its scope, the planned improvements of NEX will bring about is very broad. The wallet extension of NEX is planned to be released before its initial coin offering period. The wallet extension serves as an alternative to the Neon Wallet.
Through the NEX wallet extension, users can easily transfer their NEP-5 tokens on-chain and off-chain. In this way, NEX ICO Review users are allowed to purchase directly the NEP-5 tokens using their traditional currencies. Users are allowed to send tokens to one or to many contacts at a time. In this way, users can save their time. They can easily create contacts as well as delete contacts.
Also, users can easily track their completed and pending transactions through the chrome extension.
The vision of NEX in breaking the barrier of decentralized currencies with fiat is very compelling.
However, this wouldn’t be easy to accomplish since there are many who don’t believe in the crypto system. But the people behind NEX ICO are pushing themselves to break the wall that divides and curdles growth to the society.
Now, let’s have a look on the weaknesses and threats that surround NEX ICO.
We cannot deny the fact that there are new cryptocurrency exchanges that are on the rise to be the next big thing in the decentralized world. Hence, NEX needs to up to face the competition ahead. The prediction on how the exchange will be based on the NEO Gas, NEX and NEO. Because BTC and ETH trading pairs are not yet available.
Also, one thing that limits NEX is the use of NEP-5 tokens. But on the brighter side, this may have a positive effect which can attract a huge user base since NEX supports the most unified and all-inclusive structure for traders of the NEP-5 tokens. This weakness can be used in capturing the particular niche toward NEX’s long-term success.
So, when the ERC20 tokens come, having a well established niche in the decentralized exchange can work out for the good of NEX.
Currently, the cryptocurrency community aren’t hyped up by the ICO launching of NEX even if the company is a component of the NEO Smart Economy.
NEX ICO Token Distribution
The token sale has two rounds for equal distribution with 50 million token supply and an ICO sale amount of 25 million. Based on their website, the price for both rounds would 1 Nex= USD $1.00.
If all the NEX tokens aren’t sold by the first token sale, another drawing will be held and will last for two days. On the first round, the maximum contribution would be $1,000.00 per person while at the second round at $9,000.00.
Conclusion :- NEX ICO Can Make DEX Trading Faster
The NEX ICO takes a big leap on changing the way decentralized exchange processes by accommodating high trading volume. This project will also further the progress of NEO Smart Economy. The new platform and improved wallet will definitely be an avenue for a wider growth of assets to the crypto community users and to the overall society as well. Hence, this new ICO is taking a promising stand to the crypto space.
Will it be the next big thing in the market? We cannot predict yet but the proposal of NEX will surely make a better decentralized system and it could be the next big thing in the crypto space.