A mission to make commodities and other assets accessible for crypto users took a big step closer to its ultimate goal on Wednesday, May 15th. Nearly three months after its initial beta launch Singapore-based Virtuse Exchange (VEX) which aims to be a bridge between traditional finance and new crypto markets has started live trading.
This public launch coincides with VIRTU token´s IEO (Initial Exchange Offering), which starts at the time of the launch and will last for 2 months.
Virtuse is about to open the globally-first crypto-commodities platform, and the VIRTU IEO is the first opportunity for the public to participate in the project.
The new venue, which was created by Singapore-based commodity broker Virtuse Group, allows retail and private investors to exchange cryptocurrencies, commodities, and soon equities, and other tradable assets.
Open to everyone, those who pre-register and receive KYC approval will automatically earn 200 VIRTU.
Additionally, the crypto-commodity trading platform will launch an exclusive mining program named Virtuse Dividend Plan from which VIRTU´s holders will benefit in a variety of ways. The Virtuse Exchange’s ecosystem enables its clients to use their VIRTU tokens for staking and earning dividends. That way, the company hopes to attract crypto and commodity traders looking for an easy way to earn and stake tokens.
The platform users will be offering up to 70% rewards for trading fees through the mining program.
Commenting on the public launch, Virtuse CEO, Ras Vasilisin said:
“Traders will have access to cryptocurrency and commodity pairings and access to gold, silver, and oil markets. We are planning to add more features to our platform on the later stages, together with an increased number of listed cryptocurrencies and commodities.”
The Core Innovation
With VEX platform traders and users will be able to invest in major financial assets with an easiness of blockchain using the cryptos as a reserve currency.
For this to happen, VEX uses a synthetic contract called Digital Asset Collateralized Contract (DACC). This contract takes stable coins and pegs it to the value of any investment that the investor might want exposure to.
“This just means that when you are buying $500 worth in gold, you are making use of Tether (USDT) to create the contract. If the price of gold is going up, you will be getting more of USDT. If the price of gold is going to go down, then you will end up with less of USDT,” explains Ras Vasilisin.
This is arguably a huge step forward for 4.5 billion users who have no means to access traditional markets, and could also be assisting the adoption of cryptocurrencies if they can serve as a collateral to investing for new users.
VIRTU Token Holders To Explore Additional Benefits
Here’s again a quick summary of the main benefits of VIRTU Tokens:
- The Virtuse ecosystem enables clients to use VIRTU Tokens for mining, staking and earning dividends.
- That way, the company hopes to attract crypto and commodity traders looking for an easy way to earn and stake tokens.
- Globally-first crypto-commodity platform will launch an exclusive Virtuse Dividend Plan, from which holders will benefit in a variety of ways.
- VIRTU’s holders are rewarded with up to 70% in ETH, which amount is based on tokens holding levels.
- The more VIRTU you buy and earn, the more VIRTU you may use for staking and earning dividends.
- The platform is open to everyone, those who pre-register and receive KYC approval will automatically earn 200 VIRTU tokens.
Industry First Features
The development team has taken advantages of their long-term trading experience on Virtuse across traditional markets such as equities, commodities futures and spot trading on exchanges like ICE, NYSE, NASDAQ, and EEX.
The platform handles up to 20,000 transactions per second and enables 365/24/7 trading pairs of BTC, ETH, LTC, XRP, EOS, USDT.
As is still not quite common at the crypto platforms traders can use the limit orders, so they are ensured their orders are executing at the right price and they are not leaving vulnerable to speediness and correctness of market makers. “Traders will be able to use risk management tools on VEX, which is unique among cryptocurrency exchanges. They can place maximum and minimum price for their orders and sleep easily at night.” added the Chief Operating Officer at VEX, Matt Demes.
In order to maximize user comfort, VEX put a huge emphasis on a design which resulted in the platform with all markets, orders, analytics, and other tools viewable on simply one screen.
More details on the platform visit us at virtuse.com
- Telegram channel: https://t.me/virtuse
- Twitter: https://twitter.com/VirtuseExchange
- Facebook: https://www.facebook.com/virtuseexchange/
- Related Articles: https://medium.com/virtuseexchange
- Youtube: https://www.youtube.com/channel/UCLpPphr8lul1BElmw5LrkaQ
Virtuse Group was founded in 2006 with the vision of transforming global emissions and renewable energy markets in Europe. By 2010, Virtuse Group had become one of the largest emission brokers in Europe and China, also trading retail and wholesale electricity and gas in Europe and Asia.
Virtuse is aiming to bridge the gap between the traditional and the new crypto markets by launching a Singapore-based Virtuse Exchange – a next-generation cryptocurrency exchange that opens the new gate of opportunity for all investors to invest and trade a wide range of real-world assets.