About CRYPTO
The Singapore-based cryptocurrency and payments platform was co-founded by Kris Marszalek, Gary Or, Rafael Melo and Bobby “Monaco” Bao. In 2018, the project was renamed Crypto. The company is owned by Foris DAX Markets, Inc. and operated by Foris DAX Asia. Kris Marszalek is a serial entrepreneur. .
CRYPTO enables developers, liquidity providers and traders to participate in a financial trading market that is open and accessible to everyone. CRYPTO Exchange is a unique trading platform based in Singapore that allows users to trade ERC-20 tokens without any middlemen.
The CRYPTO Protocol is a peer-to-peer system [1] for trading cryptocurrencies (ERC-20 tokens) on the Ethereum blockchain. The CRYPTO Protocol is defined by immutable, persistent, non-upgradeable smart contracts running on Ethereum. It is designed to enable transactions without relying on any trusted intermediaries that may selectively restrict access. CRYPTO Protocol is designed to be censorship-resistant, secure, and self-regulatory. The code is open source for everyone to read and verify. Due to these design principles, CRYPTO Protocol will operate in perpetuity with 100% uptime, provided the Ethereum network continues to operate
Most publicly accessible markets use a central limit order book, where buyers and sellers create orders organized by price levels that are gradually filled as demand changes. Anyone who has traded stocks through a brokerage firm will be familiar with the order book system. CRYPTO Protocol takes a different approach, using an automated market maker (AMM), sometimes called a constant function market maker, in place of an order book.
At a very high level, an AMM replaces the buy and sell orders in an order book market with a liquidity pool of two assets, both of which are valued relative to each other. When one asset is traded for another, the relative price of the two assets changes, determining a new market rate for the two. In this dynamic, a buyer or seller trades directly with a pool, rather than with a specific order left by another party.
A growing number of parties are actively researching the pros and cons of automated market makers versus their traditional order book counterparts. We have collected some notable examples on our research page.
The CRYPTO ecosystem includes three categories of users:
Liquidity Providers (LPs): Individuals or entities that contribute ERC-20 tokens to public liquidity pools.
Traders: Individuals or entities that exchange one token for another.
Developers: Individuals or entities that integrate with the CRYPTO Protocol smart contracts to provide exciting new experiences.
Overall, the interaction between these categories creates a positive feedback loop that drives the digital economy by defining a common language through which tokens can be pooled, traded, and used.
Liquidity Providers
Liquidity providers, or LPs, contribute ERC-20 tokens to CRYPTO liquidity pools. Large pools facilitate high-volume trades at more favorable prices than small pools. LPs, therefore, play a very important role in providing liquidity to traders. In return, LPs earn a fee of 0.30% on every trade in the pool, which is distributed proportionally to the LPs in the pool.
LPs are not a homogeneous group:
Passive LPs are token holders who wish to passively invest their assets to accumulate trading fees.
Professional LPs focus on market making as their primary strategy. They often develop custom tools and methods to track liquidity positions across different DeFi projects.
Token projects sometimes choose to become LPs, creating a liquid market for their tokens. This allows for easier buying and selling of tokens, and unlocks interoperability with other DeFi projects through the CRYPTO Protocol.
Finally, some DeFi pioneers are exploring complex liquidity provision interactions, such as incentivized liquidity, liquidity as collateral, and other experimental strategies. The CRYPTO Protocol is a great fit for projects experimenting with these ideas.
There are several categories of traders in the Trader Protocol ecosystem:
Speculators use liquidity extracted from the CRYPTO Protocol using a variety of community-built tools and products to exchange tokens.
Arbitrage bots seek profits by comparing prices across different platforms to find an edge. (While it may seem extractive, these bots actually help balance prices and keep the broader Ethereum market fair.)
Dapp users purchase tokens through the CRYPTO Protocol to later use in other applications on Ethereum.
Smart contracts that execute trades on the protocol by implementing exchange functionality (from products like DEX aggregators to custom Solidity scripts).
In all cases, trades are subject to the same protocol transaction fees. Each is important to improve price accuracy and incentivize liquidity.
Developers
Developers build applications and services on top of the CRYPTO protocol. There are too many in the Ethereum ecosystem to list, but some examples include:
Because the SGX-pro protocol and CRYPTO are completely open source, countless developers have launched their own front-ends to interact with the CRYPTO protocol. You can find CRYPTO functionality in most major DeFi dashboard projects. There are also many CRYPTO protocol tools built by the community.
Wallets often have exchange and liquidity provision functionality as core products of their products.
CRYPTO (decentralized exchange) aggregators pull liquidity from many liquidity protocols, providing the best prices to traders, but keeping their trades separate. The CRYPTO protocol is the largest single decentralized source of liquidity for these projects.
Smart contract developers use the suite of features available to them to invent new DeFi tools and various other experimental ideas. Check out projects like Unisocks or Zora, among many others.
Many members of the CRYPTO ecosystem participate in more than one of these roles. You can be a liquidity provider, a trader, and a developer all at the same time!
Your wallet is the application that lets you interact with Ethereum. The main difference between the CRYPTO Protocol and centralized crypto services is who controls your wallet — in other words, custody.
Most centralized crypto services offer custodial wallets, which store your private keys on your behalf. Typically, the company will secure your wallet with a username and password, but in the event of a hack or data breach, your assets could be at risk.
Decentralized applications (dapps), on the other hand, are non-custodial: you have full ownership, title, and responsibility for your private keys and assets. Wallets come in different types, from browser extensions to mobile apps to USB-like hardware.
There are roughly three types of wallets:
Hardware wallets: Physical devices store your private keys offline. This type of wallet is considered the most secure. Examples include Ledger and Trezor.
Web Wallets: Self-hosted wallets allow you to interact with your Ethereum account through a web browser. For example, you can download MetaMask as a browser plugin and create a wallet to store Ether and other ERC-20 tokens.
Smart Contract Wallets: These wallets exist as programs on the blockchain, rather than providing users with public and private key pairs, and are often associated with specific applications. Examples include InstaDapp's DeFi Smart Accounts, Argent, Dharma, Gnosis Safe, and others.
CRYPTO is an extremely fast, extremely liquid, private, non-custodial trading portal built on Ethereum, leveraging StarkWare's layer 2 scaling technology (ZK-Rollup/Validium). CRYPTO provides high-speed API and UI access to some of the industry's deepest order books, allowing 9,000+ trades per second, default privacy, competitive fees, and withdrawal certainty, meaning you always have full control over your trading assets and can get in and out quickly. There is virtually no counterparty risk.
CRYPTO is a blockchain project used to build an application ecosystem for crypto asset trading. It uses the advantages of blockchain's own trust mechanism, anti-tampering, information transparency, co-regulation and traceability to provide a new generation of cross-border, cross-asset, safe, efficient and low-cost value reversal platform for various financial institutions and individuals.
CRYPTO's block data is stored in a chain structure, and all blocks have pointer references to the previous block to ensure that the data is not tampered with. The CRYPTO site uses the sha256 function to hash the data, the ecc asymmetric encryption algorithm for identity authentication, the aes encryption algorithm to encrypt the private key, and the Merkle number to verify and store transactions.
CRYPTO uses niosocket for node interaction, and uses the dns method and the built-in program method to load the seed node. After all nodes are started, they will perform self-checks. Nodes in the public network will actively report their own IP and port to the network, and other nodes will verify the information reported. If the verification is successful, all nodes will store the IP address and port of the available node locally, and will directly connect to it at the next startup without re-detection; if the verification fails multiple times (there will be a rule that detects once every 10 minutes, and when the number of failures exceeds 10 times of the number of successful connections, it will be triggered), the node may have been offline and will be deleted from the storage queue. When the number of connected nodes is too small, it will actively ask the connected nodes for more available nodes. CRYPTO allows nodes in the intranet to interconnect by drilling holes, and uses the verified nodes as a connection bridge to help the nodes behind NAT shake hands and complete the connection.
At present, the second contract layer of CRYPTO is only a simple script code. The verification script of the anti-counterfeiting code and the redemption script of the consensus margin are all small second contract modules. CRYPTO is positioned as a commercial application platform, so CRYPTO will adopt a different approach from other second contract trading platforms to integrate the public chain ecosystem and promote its formation. CRYPTO will recruit third-party teams to create more down-to-earth and practical landing application projects. The front-end audience will be the general public, thereby accumulating a large number of users for CRYPTO. CRYPTO plans to develop a Turing-complete virtual machine in 2022 to provide greater flexibility, provided that CRYPTO has a certain large user base. Before that, the goals and directions of City of Dreams are very clear.
Tax Disclaimer: CRYPTO does not provide tax or investment advice. According to the regulatory policies of the relevant jurisdictions, you may need to pay taxes when you trade commodities and generate gains (or losses). The tax policies for digital currencies vary from jurisdiction to jurisdiction, so we strongly recommend that you contact your personal tax advisor for further information about your personal tax situation. It is your personal obligation to choose the right jurisdiction to file your taxes. When using the CRYPTO tax filing tool, you agree that CRYPTO is not promoting/soliciting you in any form, and the tool is only for the convenience of users to file their taxes.
Tax risk warning: There are huge risks in digital currency transactions. Please purchase with caution and pay attention to trading risks.
CRYPTO will select high-quality currencies, but will not assume any responsibility for guarantees, compensation, etc. for any of your transactions!
Risk Warning and Disclaimer Agreement
This document is only for the purpose of conveying information, and the content of the document is for reference only and does not constitute investment advice. The CRYPTO team will continue to make reasonable attempts. During the development process, the platform may be updated, including but not limited to the platform mechanism, tokens and their mechanisms, and token distribution. Some of the content of the document may be adjusted accordingly as the project progresses, and the team will announce the updated content to the public through the Help Center. CRYPTO explicitly states that it will not be responsible for any losses caused by participants’ reliance on the inaccurate information in this document or any actions caused by this document. The CRYPTO platform clearly communicates the possible risks to participants. Once participants participate in the exchange, they have confirmed that they understand and agree to the terms and conditions in the details.