TradeConnect is a multi-asset trading platform that is built on the blockchain. The platform is powered by the ThinkCoin token. Existing brokerage and premium online broker Thinkmarkets.com, are providing the IP, development resources, and infrastructure. The thinkmarket group is supporting ThinkCoin via its development team, and background of its executive team.
“We intend to develop a multi-asset blockchain-based trading network. To reach the speeds of execution and settlement modern markets expect, the network will combine blockchain-based smart contracts with off-chain transactions”.
FX and CFD trading
TradeConnect will start off offering FX and CFD trading, but in the future, they plan on offering, derivatives, commodities, options bonds and products.
The platforms wallet accepts Bitcoin, Bitcoin cash, ETH, Dash, Monero, and Litecoin.
TradeConnect has evolved from centralized trading models that give market participants hardly any information about the actual underlying trade, instead, prime brokers, banks and liquidity providers on the network want to keep this for their own use, TradeConnect has created Unique to change this.
Digital personas tag each unique subscriber on the network with unique scores over time; it will build a profile allowing market makers and takers top bid for the right type of trader. This would enable liquidity providers on the network to pay the most on the right type of trade; reducing overall charges. TradeConnect retains the additional spread percentage the maker bid in the auction on every successful persona that has been auctioned.
How does it work?
To increase settlement time on the platform, trades will be processed off-chain. Data from the trade, such as margins, profit and buy and sell prices would then be uploaded to the blockchain afterward.
Thanks to P2P flexibility, trading is direct and users get paired with a buyer using the digital persona function. This means that there is no reliance on brokers or intermediaries.
There will be a connect fee charged on every transaction. The charge gets divided between market makers and the network itself, this will be instead of commission and the size of the fee would be based on the type of trading product as a percentage of the size of the trade, this would be included in the terms of smart contracts.
The ThinkCoin token powering TradeConnect
ThinkCoin’s token TCO is an asset-backed token. The platform will hold the equivalent value in a range of Fiat currencies for the available TCO stored in the network. They plan to do this to stabilize TCO’s price and provide liquidity for makers and takers; also allowing market participants who want to change TCO into Fiat, a venue to both trade and exchange their currency.
The total number of tokens they will issue is 500, 000, 000; with 60% available pre-ICO and ICO.
All of the teams involved in this project combined have decades of global experience in financial products and excellent customer service skills, as well as the tens and thousands of worldwide users they have obtained over the years; giving the project a good chance for success. ThinkCoin aims to implement blockchain for better trading and provide services needed in the future of financial markets.