Introduction
Cryptocurrencies are gaining popularity and have become a trend in the financial and investment industries. We buy and sell cryptocurrency using exchanges. Fundamentally, there are two types of exchanges: those that specialize in a single market segment (e.g., Spot Exchange, Future Exchange, NFT Marketplace, Lending, etc.) and those that deal with everything at once. ; and those that only deal in crypto.
And this article is about a new exchange in the virtual currency market that deals with everything at once. Even though there are already a few exchanges doing so, the overview and professionalism of the exchange are lacking.
What is Pirbax?
Pirbax is a digital asset and derivatives trading platform that aspires to be one of the world's largest in terms of daily trading volume and security.
Goal
Pirbax's purpose is to develop a well-defined exchange with well-defined sectors in which it is specialised and a well-defined set of services. Additional segments will be introduced over time, but not at the expense of the primary business; instead, Pirbax intends to establish independent platforms for each segment, keeping the core business from becoming overburdened. This creates an opportunity for individual growth and allows those platforms to expand independently of the primary business.
With this concept, the Pirbax team hopes to build an environment in which cryptocurrencies are used to cover every area, and Pirbax will become world-class as a result.
Why Pirbax?
A matching Engine has been created.
Pirbax has developed its matching engine capable of handling +1,200,000 orders per second to ensure that the platform is constantly operational.
Withdrawals that happen quickly
With Pirbax's two-layer wallet architecture, it is feasible to provide nearly immediate withdrawals, allowing the inflow and outflow to be sped up.
Full-Service Customer Experience
Pirbax strives to provide multilingual customer support that swiftly resolves every client concern. Staking On Pirbax, users can stake PRBA and get daily rewards. The Pirbax coin stakes receive 50% of the fees received on Pirbax, including futures fees. Users of Pirbax Futures can trade commodities with leverage of 50x.
Fees are low.
Pirbax Spot will impose a flat fee of 0.15 per cent on each spot trade at first. Pirbax Future will initially impose a flat fee of 0.075 per cent for each maker or taker deal.
Support in Multiple Languages
All of Pirbax's user interfaces will support English, Korean, Spanish, and German. Over time, more languages will be added. The original version will only be available in English.
Coverage of Devices
There will be cross-platform trading clients for the following:
- Client for online trading
- Native clients for Android and iOS
- Native client for PC (Windows)
Staker Pirbax
Pirbax Staker enables users to choose a certain currency as a staking incentive and receive individual staking rewards in that currency. Stack rewards are immediately converted for the desired currency as a result of this. If a user chooses the PRBA currency, for example, all prizes will be automatically converted to PRBA on the spot market.
Security
Pirbax is built on a system that closely adheres to financial norms. To ensure that all user data and sensitive data is stored through bank-level data encryption, an industry-standard transmission encryption protocol is used to data transmission levels. To provide our users with the highest level of security, the dynamic multi-factor authentication system has been implemented for critical procedures such as transactions and withdrawals. On a practical level, Pirbax has specialised internal risk control and operational processes departments that have set tight operational and usage criteria for production data at the operational level. To provide maximum security for user data, it requires multi-level verification and approval to review and use all online data, and core data is desensitised.
Revenue Model
Pirbax Spot
Pirbax Spot is Pirbax's spot market trading platform for buying and selling listed cryptocurrencies against a variety of base pairs, including mainstream currencies like Bitcoin and Ethereum, stablecoins, and fiat currencies like the Euro and US Dollar. Pirbax offers a highly scalable spot market trading platform with competitive low costs and a large number of listed cryptocurrencies to trade for a 0.15 per cent fixed fee on spot trades.
Pirbax Futures
Pirbax Futures is Pirbax's derivatives trading platform, which lets users trade selected cryptocurrencies in USDT Perpetuals with USD margin and Inverse Perpetuals with the underlying coin as margin. Pirbax levies a fee of 0.075 per cent for maker and taker orders in futures trading.
Fiat Gateway (Fiat)
The platform will accept fiat currency deposits and withdrawals via credit cards (Mastercard, Visa), Paypal, and a few other payment providers that will be disclosed soon. Users can now purchase cryptocurrencies straight from the fiat gateway and have them sent to their Pirbax wallets.
Token
Token name: Pirbax Token.
Token symbol: PRBA
Total Supply: 140,000,000 PRBA
Network: Ethereum (ERC-20 Token)
Token Type: Utility Token
Token Utility
Dividends
Users can stake PRBA on Pirbax and receive daily dividends. 50% of the fees collected on Pirbax, including futures fees, are distributed fairly among the Pirbax Token stakes.
Tokenomics
70% - Private-Sale
13% - Founding Team
9% - Seed-Sale
5% - Partners & Advisors
3% - Promotional events
Token Release Schedule
70% of the tokens will be allocated for the pre-sale and distributed immediately following the pre-sale.
With quarterly releases, 13 per cent of the founding team tokens will be locked for 5 years. As a result, each quarter a maximum of 910,000 PRBA are released.
During the seed stage, 9% of the company will be sold to initial strategic investors and will be unlocked in 24 months.
With a 12-month vested cliff and unlocked in 12 months, 5% will be allocated to partners and advisors.
The remaining 3% will be utilised to cover marketing costs, particularly for platform promotions.
Roadmap
● June 2021 -Benchmarking
Platform design & development.
Development of a prototype for angel/seed investor engagements and solidify the project
● August 2021 - Active Development
Assembling the team and starting active development on Pirbax. Complete technical designs with Partners
Ongoing Final Stage Of Development
Publication of the whitepaper and start of active marketing. Exchange testing, error detection and correction. Release of the launch date.
● Q1 2022 - Release of Pirbax 1.0
Pirbax trading platform launches Pirbax Spot and Futures trading. Launch of Fiat Gateway with selected currencies. Start of large-scale marketing campaign
● Q2 2022 - Expansion
Large-Scale Marketing Campaigns. Onboarding trader and liquidity providers. Forming new partnerships to strengthen pirbax.
Team
Eric Böhm, CEO and Co-Founder
Previously financial specialist at Commerzbank AG, 10+ Years of trading experience and previous foreign exchange manager at XE.
Jeon Shin, CTO and Co-Founder
Previously senior IT manager at klarna, head of information in a local department at Commerzbank AG. 15+ years of programming and management experience.
Elina Bermann, Chief Financial Officer
Previously business controller and compliance manager at Axel Springer SE and senior consultant at Deloitte in Nuremberg.
Conclusion
The project - Pirbax appears to become one of the top exchanges in no time, with a focus on strong customer service, user-oriented action, and large-scale marketing. The basic building blocks for a solid platform that is future-oriented and competitive are high customer satisfaction, a strong infrastructure behind the exchange, user-beneficial features, and an active public appearance with a good marketing mix. The native token is available for pre-sale and you can check more about the project from its website.
For more information
Website: https://pirbax.com/
Whitepaper: https://drive.google.com/file/d/1dCaCLyG8AcLyf1nDlmpDRW0nTzUrhZv5/view
Bounty Thread: https://bitcointalk.org/index.php?topic=5387595.0
Telegram: https://t.me/PirbaxExchange
Twitter: https://twitter.com/Pirbaxcom
Facebook: https://www.facebook.com/Pirbax-109019651713921
Written by
K. Siva Arulmani
Bitcointalk Username: : @siva1978
Bitcointalk profile URL: https://bitcointalk.org/index.php?action=profile;u=2373654