XTRD Solution Review
What is XTRD?
In today’s fast-paced society, cryptocurrency is becoming more prominent in the global market. As cryptocurrency grows, the methods of trading have become unstable due to the various platforms that provide trading services. Because of this, the concept of XTRD was created by Alexander Kravets, Serg Gulko, and Jon Giacobbe all of whom are wall street trading specialist. XTRD identifies itself as a technology company, whose sole purpose is to unify cryptocurrency exchanges.
Being that there are over 1000 different crypto markets, XTRD’s goal is to provide stability to the buying and trading of cryptocurrency itself. XTRD hopes to do this by offering three separate products. First is a unified FIX API, second is a centralized dark pool for turning cryptocurrency into fiat, and the third is a single access point for cryptocurrency.
XTRD seeks to create a single platform that will see the exchange of aggregate liquidity of cryptocurrency between traders. The single access point will provide aggregated liquidity for traders in the cryptocurrency markets. With this XTRD is hoping to attract diverse audiences among large institutions, algorithmic traders, and hedge funds.
XTRD Platform Features
The program will consolidate three main platforms namely; the Xtrade pro-trading, the multi-exchange FIX API, and the cross-exchange single point of access for liquidity aggregation. The team is determined to provide a reliable and secure trading environment. To ensure this, the developers of the program state that they will be separating their services from the public internet. Their systems are intricate, and the following are the offered solutions:
1. Multi-Exchange FIX API (Release Q2 2018)
The FIX API entails a Financial Information eXchange protocol. It shall be used by the traders to access multiple exchanges through a single API. It introduces a pro-trading platform that is made up of a low-latency software that is robust and cuts across the exchanges. The main aim of this system is to reduce the risks associated with operating multiple accounts on several exchanges. It is suitable for large institutions and traders who engage in multiple cryptocurrency markets.
2. Pro-Trading Platform (Release Q3 2018)
After the set up of a multi-exchange FIX API, XTRD shall launch a comprehensive pro-trading platform. It will include special features such as advanced consolidated order books, custom order types, and hotkey order entry. Essentially, if a particular user requires to execute a transaction at a different exchange, the XTRD platform will allow the action by using their user’s specific inventory account to organize the trade. This will be done through the Single Point of Access (SPA).
3. Single Point of Access (SPA) (Release Q4 2018)
This is the third and the central step of development in the XTRD program. As mentioned above, XTRD intends to create a single unified platform that will create the exchange of aggregate liquidity for cryptocurrency traders. The SPA platform makes that possible by providing a systematic transaction for traders. In addition, XTRD also plans to implement what is referred to as a Dark Pool. This is an internal matching system that will be used to generate revenue through channels such as; software trading and licensing, trading fees, sales of market data, market services, and the Xtrade VPS.
The XTRD token will be used for paying transaction fees, as well as, discounts on XTRD services. According to XTRD discounts of 25% will be available to all token holders and discounts of 40% will be available to those holders who have an average monthly stake of 50,000 tokens.
The XTRD token sale ended March 31th with over 26 million USD contributed, raising 70% of the hard cap (45 million USD).
Benefits of XTRD
The innovations by XTRD are set to present significant benefits to cryptocurrency traders. Firstly, Unlike regular platforms, XTRD will provide price transparency. Given that all trading activities will be captured in real time, traders can learn how to manage their cryptocurrency discounts. Secondly, the integrated platform will improve efficiency. Through the centralization, traders can access more liquidity and, therefore, improve their chances of boosting their opportunities. Thirdly, there is the reduction of associated risks. A single platform infers the aggregation of trading tools; this will lower counterparty risks while at the same time help curb execution liabilities.