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November 28 2017

ICO Alert Report: STeX Exchange

ICO Alert Report: STeX Exchange

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ICO Alert Quick Facts

  • Exchange aggregator pulling markets from other exchanges to one place.
  • STE to be tradable on the STeX Exchange January, 2018.
  • Token holders receive 100% of the platform’s collected commissions.
  • 1 Ether = 500 STE tokens; price per token increases shortly.
  • 47,586,030/100,000,000 available across pre-ICO and ICO.

What is STeX Exchange?

SteX is a cryptocurrency exchange aggregator. The algorithms and technology put into place within our platform will pull markets from other exchanges into one place — our secure and smart platform. This will provide our users with the highest liquidity and best rates across over 10,000 of the trading pairs we make available. 
 — Nikolay Prays, CEO and CTO

Q&A

ICO Alert: How does the STeX token (STE) function within the platform and why is it needed?

STeX: The STE tokens themselves represent ownership of a share of STeX’s profits from exchange fees. If you own 10% of the STE supply, you are entitled to a monthly payout — 10% of STeX’s earned exchange fees minus operating costs.

ICO Alert: How is STeX different than Shapeshift, Changelly or other competitors? What are the advantages that it holds over the competitors?

STeX: The main differentiator between us and other competitors is the aggregation aspect of our platform. We are one of only a few exchanges ambitious enough to combine markets from exchange platforms around the web, giving users access to the widest choice of trading options at the lowest rates available. Even among other exchange aggregators, our unique HFT and market-making algorithms ensure the highest liquidity for STeX users. We have researched and evaluated our competitors extensively in the marketing section of our whitepaper. Please visit our whitepaper for more information.

ICO Alert: One of the main value propositions for traders is that they can easily exchange various tokens without having to use multiple exchange platforms. What coins will be supported by STeX post-ICO and in the future?

STeX: At STeX’s initial launch in Q1 2018, we plan to offer the top 100 coins in terms of trading volume at that time. Our promise of 10,000 trading pairs/cross-rates also holds true for initial launch as well. As STeX grows, and in accordance with the community’s voice (and vote!), we will definitely consider adding more tokens, and thus an even greater choice of pairs in the direct “coin-to-coin” trades our exchange will offer.

ICO Alert: How is STeX providing liquidity to start, or will it take time for the platform to have enough liquidity to handle a large amount of users? What does the initial liquidity amount available look like for Ether, Bitcoin, etc.?

STeX: One of our solutions to solve the liquidity problem is to aggregate offers from many other exchanges in one place. Big orders will be executed on STeX at better prices due to the automatic collection of all of the best offers from various exchanges.
One of the main reasons to collect more funds during the ICO is the ability to strengthen the project’s own liquidity pool. This means that a significant amount of cryptocurrency will be available as bid and ask offers on the STeX exchange from the very beginning with fast execution, managed by STeX’s proprietary market-making algorithms.
On top of that, STeX will be offering direct access through fast API protocols to those who want to become market-makers on the STeX exchange, allowing them to trade without any commissions. For all such trades, commissions will be taken from a counterparty willing to buy or sell at the offered price.
So, you can expect to find a combined liquidity of the top 10 exchanges on STeX plus internal liquidity of the market-making pool.

ICO Alert: Is STeX selling to U.S. investors, and if so, is there concern for U.S. investors that STeX is considered a security because of the monthly commission/dividend payments?

STeX: In accordance with our policies, regulations, and conditions, U.S. citizens are not allowed to participate in the STeX Exchange ICO. While there is no KYC process during the ICO, we expect all potential investors to check their local governing body’s ICO and crypto policies and conform to them.

ICO Alert: What are some examples of the tools that the team has developed for hedge funds and brokers in the past? Which of these will be implemented through the STeX platform?

STeX: We have ready to use arbitrage algorithms for cryptocurrency markets and our CFO, Ivan Mityaev, has spent many years developing statistical analysis and evaluation tools for options on stocks. We have plans to implement options and futures in cryptocurrency using the same statistical models.

ICO Alert: How far along is the project today? What does the roadmap look like for the rest of 2017 and 2018?

STeX: As of November 2017, the project has been doing well and the ICO launched on November 25, 2017. So far, SteX has reached its pre-sale market cap of 15,000 ETH ahead of time, developed and released separate modules of the SteX system, published several explainer videos, and refined and updated all online materials and information whilst promoting and growing a strong online following, despite a few teething problems. The team is set to release and test an “alpha” developmental version of the systems core platform during December, at which point users will be invited to try the trading terminal for the first time.
To read more on the outline of the project for the coming months and next year, please visit the website project page to take a look at the official roadmap.

ICO Alert: As a non-STeX question, we like to ask for unique predictions for the ICO and cryptocurrency space in the future. Where do you see both in the next 3–5 years?

STeX: While it is extremely difficult to predict the growth of the ICO and cryptocurrency market, 2017 has been a demonstrative year in the growth potential of cryptocurrencies as inventive blockchain solutions, innovative DAOs and awareness of smart contract applications in the real world continue to drive momentum. According to an analyst at Saxo Bank, the Bitcoin market cap could hit $1.75 trillion in 10 years, with its price reaching $100,000. Personally, we believe that Bitcoin itself could hit $100,000 in the next 3–4 years.

Pre-ICO Information
The pre-ICO was completed in August-September and raised 15,000 Ether, reaching the hard cap.

ICO Information
The ICO began on November 25, 2017 and runs until December 31, 2017. If the hard cap of 5,000,000 STE is reached during the first stage, it will end immediately. The current price is 500 STE per 1 Ether and ends on December 10, 2017, at which point the price will be 1.25 Ether per 500 STE.

STE is an ERC-20 token and so an ERC-20 compatible Ethereum wallet must be used to receive and hold tokens. Exchange wallets should never be used to send funds or receive tokens. The minimum contribution amount is 0.1 Ether and contribution takes place on the STeX Exchange website. Once contributors provide an Ethereum address, a smart contract address will be provided, where contribution should be sent.

For more information, visit the STeX Exchange website.

Token Distribution Information
Tokens will be distributed immediately after contribution once the transaction is confirmed. There are a total of 100,000,000 STE tokens being created, 47,586,030 being sold and there is a minimum goal of 95,172 Ether during the ICO.

STE Token Pre-ICO distribution
Public ownership
2%: Key investors/advisors (no more than 2,000,000 STE)
 — 15,036,000 — Presale participants
 — 1,125,000 — Advisors
 — 1,388,285 — Partnership and bounty program

Owned by SteX project
 — 
1,248,078 — SteX bounty wallet (1,136,363.63636363)
 — 52,344,634 — Smart Token Exchange Crowdsale main contract

30%: Issued to founders

STE Token ICO Distribution
Total available amount of 53,592,712 STE will be distributed as follows:
ICO event: up to 47,586,030 STE
 — 2%: ICO bounty program (from ICO supply, no more than 951,721 STE)
 — 2%: Advisors (from ICO supply, no more than 951,721 STE)
 — 2%: Key investor/advisor (from total supply, no more than 2,000,000 STE)
 — 2%: Key team member options (from total supply, no more than 2,000,000 STE)
 — 2%: STE market-making pool (from total supply, up to 2%, no more than 2,000,000 STE)

Note that STE market-making pool and team members’ options pool
(before execution) is excluded from commission distribution. Undistributed
tokens will be burned, and if more than 30% of maximum supply (30,000,000 STE) is sold then the ICO is closed.

Use of Crowdsale Proceeds
25%: Liquidity pool
15%: Research, development, and infrastructure
10%: Legalization
20%: Project marketing (partnership program, bounty program, special promotion campaigns, corporate promotional activities)
15%: ICO marketing (partnership program, bounty program, special promotion campaigns, existing agreements)
10%: Presale participants
5%: Contingency fund

Team
Nikolay Prays, CEO and CTO
Linkedin
Nicholas is a founder of the renowned KeyCAPTCHA (www.keycaptcha.com) which was a candidate for buyout by Google, where Nick worked as a technical director, architect, and a team lead. It has more than 40 million users a month and protects more than 20,000 sites from spammers around the globe. Nicholas started programming when he was nine years old and is proficient in various programming languages.

Maxim Vladykin, CPO and Project Manager
Facebook
Maxim is the person who will be responsible for timing, resources, and the projects’ risks. Max managed development teams for companies in various fields, from web studios to the banking sector. He is the co-founder of the KeyCAPTCHA service and has known Nikolay Prays for 21 years. In KeyCAPTCHA, Max served as CBDO and product manager. Max also managed the development of a large banking software with distributed database, which was successfully implemented and operated in four regions of Russia, located at a distance of 4,000 km from each other.

Ivan Mityaev, CFO, Compliance and Legal Department
Linkedin
Ivan has experience in crisis management, building successful startups and in marketing. In the last 10 years Ivan developed many projects from websites to networks of stock trading instruments for private companies, including backtesting, statistical analysis tools, and so on. He is an expert in market-making activities, the development of HFT algorithms, stress testing of trading systems, bias-free backtesting, practical knowledge of statistics, quantitative trading methods, profound technical analysis, deep understanding of market cycles, is a value and growth investor, algo-trader, php, and c++ programmer.

Josh Clow, Marketing Officer
Linkedin
Josh is an experienced marketer and business planner with hundreds of successful campaigns under his belt. Having been involved in the crypto community since 2014, Josh has worked closely with a number of fintech and cryptocurrency service providers to bolster lead generation, increase service adoption, and encourage ICO participation through the management of PPC campaigns and the deployment of growth hacking strategies in marketing efforts.

Alexandra Mukovozova, Designer
Linkedin
Alexandra is a specialist in user-centered design with more than 10 years of experience in a wide range of projects. Having worked in Moscow, New York, and now based in Berlin, she focuses on spatial design and visual communication.

Social Media
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View the STeX Exchange Website here.

View the only comprehensive list of active and upcoming ICOs here.

References
(1) STeX Website, STeX Exchange, (2017)
https://stex.exchange/

(2) STeX Whitepaper, STeX Exchange, (2017)
https://stex.exchange/media/pdf/whitepaper.pdf

Topics: Blockchain, ICO, Crypto, Cryptocurrency, Exchange