Qurrex, the innovative hybrid cryptocurrency exchange, announced its intentions to integrate Bancor Protocol to provide continuous liquidity for its hybrid D(C)EX platform.
Bancor Protocol is the standard for the creation of smart tokens with built-in convertibility directly through their smart contracts. A decentralized liquidity network, based in Switzerland, Bancor’s objective is to unlock the expansive amount of user-generated currencies by creating liquidity, allowing any token to be converted to a different cryptocurrency at rates that reflect market value regardless of volume – and outside of traditional exchanges.
Using an innovative token connector method, Bancor completes a formulaic price calculation and continuous liquidity for all integrated tokens, without needing to match the two parties in an exchange. The smart tokens interconnect to form token liquidity networks, allowing user-generated cryptocurrencies to thrive.
By integrating the Bancor Protocol, Qurrex (QRX) token holders will gain access to continuous liquidity through the Bancor network, regardless of trade volume or exchange listings. This benefits cryptocurrency aficionados as any integrated token can be automatically and directly converted to another.
At present, there are a range of cryptocurrency tokens that are eligible to be converted into a different currency. These include ETH, EOS, TRX, GNO (Gnosis), BNB (Binance) and BNT (the Bancor Network Token). With such a broad range of currencies and high demand, Qurrex are confident of creating a large and devoted community of traders – whilst marketing their own QRX token.
With such an ambitious forecast, and demand driven by a loyal community, it seems only logical for Qurrex to provide users with a straightforward way to convert tokens. By integrating Bancor, Qurrex can offer liquidity to those that wish to be a part of the platform.
Cryptocurrency traders must initiate the Bancor Protocol to join the Bancor Network. The protocol uses a ‘connector’ method. This uses connected tokens through formulaically-calculated prices – without having to match buyers with sellers.
Qurrex will activate a Relay Token on the Bancor Network with $200,000 of QRX and $200,000 of BNT within a week following the successful completion of the token sale. Users will be able to buy and sell QRX tokens with any other token in the Bancor Network at a formulaically calculated price.
With such an ambitious forecast and demand, driven by, a loyal community, it seems only logical for Qurrex to provide users with a straightforward way to convert tokens. By integrating Bancor, Qurrex can offer liquidity to those that wish to be a part of the platform.
As a first-of-its-kind cryptocurrency exchange, Qurrex has already achieved significant investment to support the development of the platform. Encompassing the best features of traditional exchanges and blockchain technologies for brokers and investors, Qurrex has ambitions to become the industry leader.
Building on its already stellar investment and looking to capitalize on growing industry interest in the business, Qurrex, ICO Public Sale commences is May 2018. The unprecedented demand garnered from the token pre-sale has driven this decision, generating interest from several investment funds.
Qurrex is aiming to attract an initial $17M soft cap, rising to a $55m hardcap. $50,000,000. Tokens will be offered for sale, with buyers able to make purchases in either Euro of US Dollar. The initial price of a single token will be $1 US. Tokens will not be issued after the TGE, and any undistributed tokens will be disposed of in a correct manner.
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