In 2019 and 2020, initial exchange offerings (IEOs) flourished. This method of launching new cryptocurrencies has retained its relevance in 2021, as it effectively combines the initial offering of coins and tokens with the listing on the exchange.
Previously, trading platform managers organized IEOs manually, but now, everything is done through automated launchpads. With the help of these platforms, users can learn about completed, current, and upcoming IEOs, analyze a crypto project that they like, including its tokenomics and the team, and then make an investment decision based on this information.
The team behind the Polyx platform has taken a deep dive into existing launchpads and identified their advantages and disadvantages. After carefully analyzing the market and taking the accumulated knowledge into account, Polyx has produced its own launchpad, which features the best qualities of its competitors and excludes their disadvantages. This launchpad is poised to become the main venue for IEOs of new coins and tokens.
What benefits does the Polyx platform bring to the table now?
The Polyx team started developing their platform in January 2018 and launched it in the fall of the same year. Their goal was to provide traders with a world-class engine that would allow them to trade cryptocurrencies quickly and securely. And for non-professionals, they created a simplified exchanger interface that allows users to easily buy cryptocurrencies for personal purposes.
Thanks to the team’s hard work, the Polyx platform was included in the CoinMarketCap Top 100 exchanges. In 2019, this helped expand the platform’s user base and learn more about the features traders need on exchanges.
The team considered their users’ wishes and presented the promised updates in the summer of 2021:
- Boosted exchange speeds — users can now trade and exchange cryptocurrencies faster and more conveniently.
- Enhanced security — users’ cryptocurrencies are now protected even more reliably.
From the first days of the exchange, it was possible to store cryptocurrencies in a custodial way. However, many experts believe that the non-custodial storage of a cryptocurrency is the more proper method and that transferring it to the exchange is only worthwhile when making transactions. With the non-custodial method, private keys are stored by the user himself, making that cryptocurrency user-controlled. In the fall of 2021, the team introduced the Polyx Crypto Wallet, a secure mobile crypto wallet that stores private keys on a user’s device, which guarantees maximum security for their cryptocurrency assets.
What are the benefits of further expanding the Polyx ecosystem?
Over the last 3 years, the Polyx platform has launched dozens of trading pairs, increased performance to hundreds of matches per second, and increased the trading volume to 16 million USD per day. It is now used by tens of thousands of investors, traders, and non-professionals. Although the latter group of users isn’t likely to be very interested in anything other than a quick exchange of cryptocurrencies, the first two groups would greatly benefit from additional functionality.
In order to continue providing people with an ever-growing list of profitable opportunities, the team has decided to create an entire ecosystem based on the existing trading platform. PLX, the platform’s native exchange token, will become a vital linking element in this ecosystem. This utility token can be used in both already created services and those that have yet to be unveiled, such as:
- Polyx Exchange (operational since 2018). PLX will allow users to save up to 50% on trading fees, as well as to participate in IEOs that will be featured on the launchpad.
- Polyx Crypto Wallet (launched in 2021). PLX will allow users to pay for AML verification of a transaction or address (this service will be available in Q1 2022).
- Polyx Trading Tools (planned for Q2 2022). PLX will be used to pay for a subscription to the service.
- Polyx NFT Marketplace (planned for Q4 2022). PLX will be used to receive discounts of up to 50% on marketplace commissions and access to private NFT sales, as well as to participate in improvement polls.
PLX token holders will be able to directly influence the development of the entire Polyx ecosystem, whether this relates to the addition of new functionality to the ecosystem or the decision to list new coins and tokens. The polling system will factor in the number of PLX tokens and the duration of their holding.
On January 17, 2022, the native PLX token’s IEO will be unveiled on the new launchpad. Hurry and apply for participation in the token sale now! Also, starting January 24, Polyx plans to launch IEOs of other crypto projects on its launchpad.
