EXMO, the largest crypto exchange in Eastern Europe with 40 thousand active traders and 1.6 million registered users, has announced the release of ERC20-based EXMO Coin (EXM). It’s set to be integrated into the EXMO internal ecosystem, as well as leading payment systems and cryptocurrency wallets with which the partnership will be established in the future. Before running the first stage of a public sale, a private pre-sale round is starting now, with a discount of 15% for those who apply for coins until July 28.
Conceptually, EXM is similar to that of many other exchange tokens in the world of cryptocurrency trading. It functions as an economic incentive for users to participate in the exchange’s ecosystem. A series of incentives include reduced trading fees, increased referral payouts, access to copy top traders and other leverages for greater profit.
Technically speaking, EXM is issued on the Ethereum blockchain using the ERC20 standard as the smart contracts interface, which means they are supported by the majority of crypto exchanges and wallets interfacing with the Ethereum network. It’s fully compliant with the international security standards ISO/IEC 27001 and CCSS.
Noteworthy that the EXMO team announce their plans to launch an equivalent contract on the TRON blockchain which is characterized by high throughput, and implement the ability to swap assets between the TRON and Ethereum blockchains.
So, what are the benefits to acquire EXMs?
- Reduced fees: Users will be able to increase their cashback rate, thereby reducing their trading fees by up to 50%, and also will be given the option to pay for leveraged trades with EXMO tokens after launching margin trading on the platform;
- Copying successful traders: the option to learn about top traders, including details of their portfolios, and copy their strategies with EXMO tokens;
- Cloud mining service: the option to purchase hashing power from EXMO partners with EXMs;
- Listing of new cryptocurrencies and tokens in pair with EXMO Coin: After the listing of new coins or tokens on EXMO, they will be available for trading exclusively for 3 days in pairs with EXM. At the conclusion of the three-day exclusive trading period, new coins or tokens will be available for trading as a pair to the other currencies;
- Special access to the IEO platform: Users will be granted access to IEOs that pass the selection process. IEOs will be conducted in two pairs: with BTC (or other “traditional” currency) and with EXMO Coin;
- Increased affiliate payouts for those whose referrals complete trades with EXMO tokens on the exchange;
- Airdrops: rewarding with partner airdrops during various promotional events;
Such incentives seem not to be overlooked by current and future users of the exchange, especially since EXMO offers IEO services, OTC trading, fast API, increased cashback and merchant services in addition to standard operations.
The order of token sale
As reported in EXMO, placement of tokens will happen over several stages: one private sale and three public rounds.
The public rounds will be held as an open exchange offering, IEO. At the first stage, 50% of the total issued tokens will be sold. The remaining 50% will be subject to a 3-year lockup to be partially unlocked every six months. Three days after the completion of the third round of the IEO, EXMO Coin will be listed and added as a trading pair to the most traded cryptocurrencies on the EXMO Cryptocurrency Platform.
A private pre-sale is planned for the first stage, where a portion of the issued tokens is offered to investors via individual requests, with a minimum purchase amount of 1 BTC and 15% discount.