Blockchain Trends: Digital Asset Trading Taking New Steps Towards Sharing Economy

2018.07.06

The Digital Asset Trading Platforms has been a key component in validating the value of blockchain and its future potential, and as a mean to increase the awareness of blockchain in total. With these trading platforms in it´s early adoption, following similar business models and structures found in Stock exchanges, we are now starting to see new trends that are embracing a whole new relationship between blockchain companies, their tokens and the digital asset trading platforms. Although blockchain in. its nature represents decentralization, exchanges in other hand have been centralized benefitting a few from token holders´ trading. However it is drastically changing. Blockchain and cryptocurrencies have driven the current Financial system to an extent where there is no looking back. In this developing era of digital currency, exchanges have become effortless, transparent and decentralized. The decentralization of the exchanges are now moving towards embracing the ideas of sharing economy.


Current trends for exchanges:
Many of the major exchanges are introducing their own native token to introduce additional benefits the users can access. Good examples are Binance and OKEx, two of the largest exchanges, introducing their native tokens BNB and OKB. The can access discounts and rewards when using their native tokens for paying fees or any other costs. BNB have seen an increase in price to 13 USD per token since its introduction middle of July.


The next step for exchanges:
If exchanges were centralized in the past, we are moving fast towards business models that embraces decentralization where the users have the opportunity to share the exchanges´ revenues and receive additional discounts by participating in the exchange.


Currently there are a few exchanges embracing the Sharing Economy of trade with platforms such as Binex that delivers 70 %of its profits to its stakeholders; KuCoin will use 10 % of their profits to buy back and burn their native token, KCS so the holders are rewarded; DeCoin shares the revenues generated through commissions and fees (6.2 % interest rate) to DeCoin holders and the D-TEP Crypto Index (DCI); the Chinese BTCC advertises a points-based system for users, who will earn points that will later be redeemable for a new, native BTCC token; and COSS holders are paid 50 % of the exchange trading fee on a weekly basis.


One new exchange that has received great media attention the last weeks, is FCoin after a spike in daily trading volumes of the token, rising at one point to 5.6 billion USD- more than the sum of the top-10 platforms on CoinMarketCap.


FCoin has some distinct features. It is the world’s first transparent trading platform. The platform boasts of a transaction fee mining model. More than half of the FCoin tokens (FT) are given back to community members by returning the transaction fee. FCoin also promotes giving back to the community members by ensuring that 80% of the exchange’s revenue goes back to holders of FCoin tokens. This will be done proportional to an FT holder’s total tokens against the total circulating supply.


For instance, let’s assume that the platform gets a total of 100 BTC and 400 ETH as revenue in a day. What it means is that a user who holds 1 percent of the total FT in circulation will be entitled to 1BTC and 4ETH.


Additionally to embrace the ideas of sharing economy, FCoin gives holders of FTs right to decide and participate in decisions affecting the community at large.


Odyssey(OCN) and OCNEx — A Sharing Exchange


Recently Odyssey(OCN) announced the plans to develop our own Asset Exchange — OCNEx. This strategic decision will further grow Odyssey(OCN) position in the cryptocurrency market with larger scale and volume; allowing sustainability by continues funding and organic growth; while rewarding the community with profit sharing throughout fluctuations of the market and bearish trends. Odyssey(OCN) aims to be on a leading edge with the development of OCNEx and we Look forward to provide more details about OCNEx the next coming weeks.


As the industry heads towards decentralization, and this type of exchange, Odyssey will continue to be a leader of innovation by adding this new exchange to our Roadmap. At Odyssey we believe the future is in sharing, and this initiative will continue to allow Odyssey to be on the forefront of Blockchain!