The Komodo platform gives birth to yet another exciting project, clearly drawn in by the Komodo technology offerings. Taking into consideration Zaddex.com is to be a hybrid dex, boasting zaddress trading pairs and attractive mining rewards, Komodos technology seems an obvious choice.
Zaddex.com Exchange plans to combine 24/7 support and service, yet the trader controls their own keys. Put simply, its a decentralized exchange with a centralized support structure. However, this isn’t until the phase 2 release. To begin Zaddex.com will build out its centralized model and begin trading within 2 months of the chain launch.
Modelled on the more familiar styles of Huobi and Binance, Zaddex.com Exchange will be a familiar look and feel for most. Utilising Tradingview.coms charts, traders will get the same familiar centralized feel, but later also experience the full comfort of decentralized trading.
Miners early to the table, will be handsomely rewarded with some 50% of the total supply of 210 million, distributed in the first year, prior to the block rewards halving. In addition to mining, there will also be a quarterly buy-back-and-burn initiative, that will see 25% of profits for the first 18 months. Upon exchange launch, we will see a trading referral program introduced to help gain the adoption of trader.
How the model of centralized support and decentralized trading plays out, remains to be seen, but in theory the idea of having support if something goes wrong is very much appreciated in an industry with so many trading hurdles.
The team not being disclosed is an obvious question mark, but with all that’s happening legally in the industry, it’s no real surprise. The fact they are working toward decentralized trading is comforting, and being on one of the most secure blockchains is also comforting. It seems unlikely a project with ill intended plans, would chose this level of tech and security.
With projects like Verus and Zaddex.com being attracted to the Komodo Platform, it is only a matter of time before the Komodo technology becomes more widely known. At the moment it remains a risk for a project to begin on a platform that does such little promotion or hype relating to the platform and its offerings. It seems the more technical projects are seeking out Komodo with a longer term view.
All in all, the project is very interesting. Its handsome rewards for mining, should ensure a speedy start from the gates. As the coin has a strong use case, there could be some strong buying demand early. in 2017 we saw the value in getting exchange coins early and they still represent attractive buying opportunity. Exchanges are one of the only real use cases of cryptocurrency payments at these types of levels.
The real test will come for Zaddex.com when the first trading product is launched and we get an indication of the quality of the build and how it functions. However, until then I would expect to see a lot of miners try their luck on this coin, and traders looking through early exchange listings to grab a bargain.
Zaddex.com lists its commencement for sometime on Monday the 12th. Happy mining.