Unibright, the German-registered company providing “unified framework for blockchain based business integration”, has established a listing on Cryptopia exchange. UBT utility token acting as a voucher which companies need to use the Unibright platform started to be listed on Tuesday, August 28, with trading pairs UBT/BTC, UBT/LTC and UBT/DODGE available.
After its successful ICO in April 2018 and teaming up with Microsoft and Lufthansa, the blockchain for enterprise enabler set up a bunch of blockchain events and signed a number of strategic partnerships. Earlier in August, the company officially announced the listing on QRYPTOS as its first exchange.
Listing on Cryptopia is the result of long-term negotiations and careful selection of exchanges according to a number of criteria, Unibright team explains.
“We aim for exchanges that are active in different regions, target different audiences and currencies, hold the option of opening to fiat money and also work with real volumes rather than with bots faking volume. Cryptopia proved their quality by picking up many successful projects. Their due diligence, especially on the smart contract security, is very challenging. Furthermore, Cryptopia has a large user base in the USA, EU, Australia and New Zealand, which would make it a perfect addition to our QRYPTOS listing,” Unibright representatives add.
They highlight that exchanges like Cryptopia take a reasonable listing fee, add a new market to the token liquidity, work together with the token team on marketing and do proper due diligence to really get to know the project they are about to list.
Сonversely, there are different types of exchanges which list a token without contacting the project beforehand and asking for market manipulation not being interested in the project. When dealing with such exchanges, you are not able to find any details about the team, the regulatory background or any official contact person. The volume created on these exchanges is most probably fake volume, created by bots who buy and sell tokens to themselves. These fake volumes have the side effect that they manifest a certain price of a token, although there is no “real” seller who actually wants to sell for that price.
The business model of those exchanges who ask for money and “deposits” without checking the project is obvious: “Pay us 100 BTC, we will list you, no matter what your business model looks like, no matter how secure your smart contract is designed, no matter what your regulatory status is. Neither they care if you implement illegal strategies like wash trading, nor do they really care about the utility of the token,” Unibright cautions.
The company also announced further plans to pick the next exchanges by checking on all that arguments, too, and keep their users updated as soon as a new listing is fixed.
Unibright empowers anyone to craft powerful blockchain-based solutions with no coding skills. It transforms visually designed workflows into the platform-dependent code at the push of a button. This approach is applicable to a wide range of business tasks fitting into already developed templates like “Multi Party Approval”, “Asset Lifecycle”, “Batch Tracing” and many others. On the practical side, it means that smart contracts get generated, deployed and updated automatically based on visual definitions. Due to its “no-coding-needed” approach, Unibright takes the spotlight of tech-giants, consulting companies, enterprises and blockchain companies.
Read this blog to know How to Choose a Bitcoin Exchange
Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology.
Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.
Subscribe To Our Newsletter
Join our mailing list to receive Cryptocurrency investing and trading recommendations to your mailbox.
You have Successfully Subscribed!
Subscribe to get notified on latest posts.