LIONSEA is a whole new generation based on Ethereum Blockchain platform.
A system of protocols would allow users to deposit cryptocurrencies on an exchange, without the presence of an actual deposit. A smart contract provides the base of the solution, but the benefits are gone if the funds cannot be used to initiate multiple, simultaneous trades. We propose a solution to the following three problems using a zero-day protocol: centralized exchange hot wallet hacks, decentralized exchange limited trading capabilities, multiple deposits of low amounts on over the counter exchanges. At its core, is the smart contract which serves as an input and output for the cryptocurrencies it supports. The smart contract takes the input from the trader and assigns it a unique identifier, typically the traders wallet address, and sets up a contra account with the given amount deposited and allows the trader to perform trading activities on the centralized exchange. Once an order has been filled, the federation server updates the trader’s transactions onto the Blockchain.
What is Bitsive?
Bitsive is a decentralized, centralized, OTC hybrid exchange.
What makes Bitsive Hybrid Exchange Unique?
Bitsive uses a zero-day protocol that allows users to deposit cryptocurrency to the bitsive exchange without actually depositing. Users go to Bitsive to get the smart contract address and use their cryptocurrency wallets to send cryptocurrency to the smart contract and not the exchange. A time lock algorithm freezes the funds and the contra protocol provides an account key, deposit amount and deposit type to Bitsive front-end application which then credits your account on the exchange. You can make multiple trades, such as take profit, stop loss, trailing stop loss and over 11 different order types. Each trade made, your balance is updated in real time to the smart contract so when you are ready to withdraw it allows you to withdraw the correct amount in any currency supported. Any blockchain that uses smart contracts is supported by the zero-day protocol.
Bitsive project goals
Bitsive’s project goals is to make users comfortable to trade on the exchange with no fear that the exchange will get hacked. An exchange where they are not limited to clunky UX with limited functionality, low liquidity and highly cumbersome design. An exchange that gives users the tools they need to make money while managing and storing their own cryptocurrency. An exchange that allows for market trades and over the counter trades all while never sending any cryptocurrency to that exchange. This is our vision of a hybrid exchange and this is our goal.
How will the Value of SIV coins increase?
The value of SIV coins will increase because users will get a 50% discount when using them for fees. Bitsive also has a subscription model for its premium accounts which we only accept SIV for. The OTC exchange’s fees are all paid in SIV coins as well and so are the deposit and withdraw fees. Each quarter we will use 20% of profits to burn SIV coins causing the total supply to decrease over time. While the value of it increases.
When will the platform launch?
As per our roadmap we estimate, with adequate funding, that the zero-day protocol will launch in December and the platform will launch in January.
What coins are supported on launch?
We will support Ethereum coins, Stellar coins, EOS coins. We estimate that we will have support for up to 30 different blockchains by March 2019, where we estimate to launch our own Blockchain with cross chain functionalities. Although we support the coins, to get them listed on Bitsive exchange developers have to pay a listing fee in SIV coins which will be dependent on volume of traders.
What is the OTC exchange of Bitsive?
The OTC exchange of Bitsive allows users to trade coins for fiat or other coins over the counter. Which basically means that they won’t affect the market price of the coins. The OTC exchange at Bitsive allows any coins to be traded as long as the Blockchain is supported. Users get PGP signed messages so their conversations are private and between them.
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