We have seen many attempts to create a more transparent, more fair, and more professional crypto exchange. Each of them provides one or two features that set them apart from the crowd. The one we will take a look at today, XBrick, aims to facilitate crypto traders access to tradable liquidity across the world.
XBrick promises to deliver the “next-generation cryptocurrency exchange”. Through their platform, they intend to make trading of high-quality blockchain-based assets more secure, reliable, and efficient.
Key Features
Global Consolidated Order Book
The technology behind XBrick continuously scans and gathers tradable liquidity from channels across the world, allowing users to access the global crypto-currency market. It also enables them to trade at the best buy or sell prices for the desired crypto asset.
DLPE
Developed by XBrick’s strategic partner, LiquidAlpha, the Dynamic Liquidity Providing Engine (DLPE) is a core feature of the platform. It is configured to trade against client orders in circumstances of no liquidity and has an algorithm to execute orders under certain conditions every few seconds. The engine will also continuously quote five levels of tradable bids and ask to add liquidity and depth in the order book.
Advanced Order Types
In addition to the traditional trading order types including limit order, stop order, and batch order, XBrick is developing advanced order types. Augmented automation with those order types will save users time while helping them obtain optimal execution.
Automated KYC
To help new users create and verify accounts the automated “know your client” system is connected to global real name databases which will allow them to use their local identification documents and run real-time identification online. This should reduce the entire verification process to five minutes.
Corporate Level Account System
To help organizations manage tailored needs in a flexible authentication structure, XBrick is developing a corporate level account system. This will enable organizations to assign specific levels of access and administration authority to its linked XBrick accounts.
Roadmap
Background
The XBrick project was launched in November 2016. Once the technical team was all set in December they began with development. In September 2017 they completed a round of venture capital raising, and November saw the launch of the Web-based XBrick exchange platform and the XBrick Android app. The iOS application was rolled out about a month later.
2018
Since then, the XBrick team has been further developing and improving the platform. They will open their pre-sale round on May 11th which is expected to be followed by a public sale in the third quarter of the year. XBrick plans to further develop their product after this.
Team
The XBrick team is headquartered in Sydney, Australia. It is comprised of:
Leafer Zhao, CEO. Alongside his position at XBrick he directs VS Capital, an investment firm, as its co-founder. Leafer worked as a financial analyst at Wingate from 2013 until 2016.
Bill Richie Yang, CTO. Like the CEO of XBrick, Yang maintains his position at VS Capital as its co-founding managing partner. He also acts as a director of Stonewall Resources. His LinkedIn profile features experience in finance since 2015.
Mike Ye, Chief Risk Officer. Mike is a director of Bluestone Mortgages with a professional background in finance starting in 2005.
Virginia Lam, Head of Marketing. Virginia is a serial entrepreneur who has founded several marketing startups and maintains the role of marketing lead at the Abyss.
David Coe, Chief Editor. David acts as managing editor of Investor Torque, and communication and social media consultant with several companies. Dwayne Gamman, system development advisor. His LinkedIn profile features work in the fields of financial analysis, trading, and trading software development since 2002.
Yun Lin, cyber security advisor. He is the VP of Engineering APAC at Contino and technical advisor to Alchemy Ventures.
Brenda Saveluc, legal advisor. Brenda is a freelance lawyer and a consultant to Orbit Legal Resourcing.
Chloe Liu, digital marketing advisor. She is a lead generation and digital advertising strategist at her own company, Viva Results.
Advisory Board
The advisory board of XBrick is not separated from the team and includes four experts:
Token Sale Summary
Project name: XBrick
Token ticker: XBC
Type: ERC20
Website: https://xbc.xbrick.io
Whitepaper: https://xbc.xbrick.io/doc/Whitepaper(Preliminary_English).pdf
Requirements: KYC
Pre-sale start date: May 11th
Pre-sale end date: May 31st
Public sale start date: June 11th
Public sale end date: N/A
Soft cap: N/A
Hard cap: 45,000 ETH
Maximum token supply: 1,000,000,000 XBC
Conversion rate during the pre-sale
Until 80,000,000 XBC sold: 1 ETH = 15,000 XBC
After 80,000,000 XBC sold: 1 ETH = 13,500 XBC
XBC Token Allocation
Use of Proceeds
Following and Media Coverage
The XBrick website features publications on Reuters, Digital Journal, Bitcoin Exchange Guide, Creaders.net, and four other regional Asian resources.
The XBrick Twitter account has 2,098 followers, their Telegram group has 7,134 members, and their Facebook page is followed by 4,028 users.
Competition
XBrick is not the first attempt to create a better crypto exchange. However, neither their website, nor whitepaper explains how they are going to be competitive against similar projects.
Whitepaper and other documents
The XBrick whitepaper has 50 pages. If you try to follow the table of contents you will be surprised to find out that at some points it does not correspond with the content. But it seems to be alright, as long as the team claims that the current is a “preliminary version” of the document. Another interesting discovery we made on a quick review of the whitepaper is that XBrick was the first exchange ever to enable trading mBTC.
Conclusion
XBrick is not the first attempt to create a better crypto exchange. This means that the competition they are facing is going to be tough. Therefore, we would like to see a clearer vision by the team of how they plan to be competitive. They outline the key features of XBrick but still, some comparative analysis of competitors would make them sound more convincing. One more notable thing is that they do not specify their soft cap. However, the XBrick exchange has been live since late in 2017 and has already gained some positive fame from crypto traders.
Website: https://xbrick.io/
Whitepaper: https://xbc.xbrick.io/doc/Whitepaper(Preliminary_English).pdf
Telegram: https://t.me/XBrick_GLOBAl
Twitter: https://twitter.com/XBrick_Exchange
Facebook: https://www.facebook.com/XBrick.io/
Medium: https://medium.com/@xbrickexchange
ANN: https://bitcointalk.org/index.php?topic=3120918.0
Author: https://bitcointalk.org/index.php?action=profile;u=980049
Candy Program Link: i.xbrick.io/e/77E93E98
Disclaimer:
This review by Bonanza Kreep is all opinion and analysis, not investment advice.