What is nDex?
Ndex Network is an Open-Source decentralized Ethereum token exchange. Every trader on the nDEX platform is partially refunded for contributing to the platform. Incentives for every trader is different in the nDEX system depending upon the value they bring to the platform. These incentives are distributed among users of the nDEX token, which is an Ethereum based token. All the incentives are measured by trading volumes.
On the nDEX platform, traders will receive rebates on our native ERC20 token NDX every Sunday for a period of one year. By running this rebate ecosystem, we will use 50% of our trading profit to buy back NDX from the community and we will not use our reserve token for this.
How does nDex work?
Using different applications such as Oraclize, Streamer and IPFS, We are now in the procedure of creating the backend for market analysis and to also take information from other blockchains, as well as different web APIs. All users can use these third-party applications to retrieve data that will act as an impartial oracle, this is required when blockchains will interact with the data. We also plan to unite our nDEX platform with some of other DEX to make it a bigger liquidity pool. We will be publishing the DEX contract code at the end of this month.
There is no middleman to guarantee the obligation of our smart contracts on nDEX platform, this process is automated and the user’s data is totally secure. All transactions are made through the ethereum contract. These can be monitored by anyone, at any time and stored for a lifetime. The trader can deposit, trade and withdraw around the clock. There is no need for permission to withdraw any amount of your assets.
nDex Network ICO Distribution
NDX is an ERC-20 Utility token. The total supply of 15 billion is fixed from which 2 billion NDX is for the company and the team. These are locked/stored in a secure wallet for a period of six months. The wallet id will be posted publicly. After the six month period, 2.5% of the token will be released for distribution. Then another 1.5 % token will be released for nDEX development expenditures. We will publish our token and business profit-loss summary at the end of each quarter.
On the nDEX network system, distributions will take place as follows: 20% for the company and the team, 32% for the first stage of the pre-sale and 48% for the second stage of the pre-sale. There is 12 billion NDX in place for ITO/Pre-ITO rounds. After the conclusion of the ITO, unsold Tokens will be burned . 2 billion NDX is for the team and nDEX Network, and 1 billion NDX Tokens will be used for community building strategies such as airdrops, promotions, bounty, and marketing etc.
Pre-sale now live!
There is a 100% bonus for the NDEX first pre-sale stage. It starts on Jun-25-2018 12:00:00 AM +UTC and ends on OCT-16-2018 12:00:00 AM +UTC. We accept payments in Ethereum( ETH) and the exchange rate is 1 ETH = 5,000,000 NDX. You can send your Ether only through MyEtherWallet, Mist Wallet, Parity Wallet, Metamask to the address mentioned on our website.
For more info:
- www: https://ndexnetwork.com/
- facebook: https://www.facebook.com/ndexnetwork
- twitter: https://twitter.com/NdexOfficial
- bitcointalk ANN: https://bitcointalk.org/index.php?topic=4479873
- telegram: https://t.me/ndexofficial
This Press Release has been submitted by an ICL member.
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