Qurrex aims to brings the most professional and secure crypto exchange to the world. The platform is designed to be able to carry out an incredible 3.5 million transactions per second, placing it far ahead of its current rivals in terms of speed and efficiency.
It is described as a hybrid crypto exchange, as it combines the industrial infrastructure of a traditional stock exchange with the advantages of a decentralized network.
The public sale of tokens for this project was delayed from the planned date, and it is now scheduled to take place June 2018.
Let's take a deeper dive.
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Token: QRX tokens
Hard Cap: 50-60 ETH ($43.9~ M)
Payment Methods: ETH
Total Cap Size: 70 million QRX tokens
Restrictions: United States of America (except qualified investors), North Korea, Cuba, Iran, Syria
Private Sale - Completed
Public Sale - Jun 10, 2018
The Qurrex project aims to make it easier to deal in cryptocurrencies. It has three main elements for investors to it. They are as follows; active savings, active income, and passive income.
Their plans include introducing several big advantages over competitors, such as high end performance, maximum transparency, and high liquidity levels.
Behind this network is Blockchain technology combined with a centralized exchange that is said to have a performance similar to that of modern stock exchanges.
Project Use Case
We can see from the documents put together by the Qurrex team that they expect a number of different people to use this platform. Indeed, they have split the list of their customers into 2 different sections; “new for crypto” and “existing users”.
The first group is then divided into “Algorithmic and arbitrage traders, HFT. Classic and FX brokers. lnstitutional and corporate investors, crypto funds”. The second group is made up of “Other crypto-exchanges and exchanges that need liquidity .
Active clients of crypto-exchanges”. The figures that they have pulled together show that a $6 billion daily turnover of funds could be achieved on their network.
QURREX Team Overview
The team that has been working on Qurrex is led by 4 Team Leaders. There are also 4 Advisors & Partners listed on their site. The Founder and CEO is Matthijs Johan Lek.
He has a background in finance and his LinkedIn profile shows us that he worked in the Netherlands, Switzerland, and the UK. Next is Slava Baikalov, who is listed as the Chief Operating Officer and Co-Founder. He also has a background in finance, specifically banking.
The next Team Leader listed is called Konstantin Sviridenko. He is the Chief Business Development Officer and is also the Chairman of Qurrex’s Advisory Board. Finally, Andrey Sitaev is the CTO.
Dmitry Lavrov is named as the Asset Manager under Advisors & Partners. Also mentioned here are; José Luis Coirolo (Trading Services Advisor), Stas Oskin (Blockchain Advisor), and Wilhelm Beller (Institutional Relationship Advisor).
How Does The Token Work
The QRX token can be used to access the trading services offered on the Qurrex platform. This is an ERC20 token and 70 million will be issued in total, with a maximum of 55 million of them to be sold.
There are 3 distinct functions listed for it in the White Paper. The first is to give a discount when paying commission fees on trades.
The second is a way of paying for fees and services with other currencies. Finally, it will be a quoted exchange token in its own right.
What Do Investors Gain
Investors can look to earn an on-going income based different ways of using the platform. The active income option is about taking fees as exchange.
Passive income can be earned by leasing QRX tokens. Token-holders also get up to 100% discount on their trading fees.
Of course, if this platform proves to be successful then it is also to be expected that the token’s values grows with its popularity.
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Opportunities & Risks
This concept of bringing the functionality and power of a stock exchange to crypto trading is certainly appealing. There are some existing limitations to crypto exchanges that this solution seeks to overcome.
The speed promised is encouraging and there is also the lure of a high degree of flexibility to make it a powerful option for investors to use.
Naturally, there are also other projects that look to fill the gap that currently exists. This means that losing out to a platform that gains popularity more rapidly is one of the mains risks of this ICO.
The risk of competition is only mentioned briefly in the White Paper and more details would have been useful. Other risks that they mention include fairly standard issues such as security and regulations.
Another factor is that there appears to be no lockup period for the teams tokens and the prototype is not available publicly. We can see the metrics for their matching engine here: https://qurrex.com/metrics.html
ICO SIGNALS :
The Qurrex platform is an interesting attempt to bring the power of a traditional stock exchange to the world of online crypto trading. It is a well thought out project and the White Paper goes into great detail when explaining the technical issues involved in making it work.
The team working on it appears strong, although they have elected to only list their main Team Leaders and Advisors rather than everyone involved in it.
The highly competitive and ever-changing nature of this area probably raises the biggest concerns.
Will Qurrex be the solution that large numbers of people choose to use, or will something else appear that becomes more widely accepted by the public?
There is a huge market for a powerful crypto exchange like this but with the platform not due to be functional until June 2019, it is going to be a while before we see whether it is a success or whether some other solution gets in there before them.