Too many projects in the cryptocurrency space came to be with the mentality of “raise money first, build later”, and never quite got around to the building phase. Cryptocurrency derivatives exchange Interdax stands out as the opposite: after 18 months of development without any crowdfunding, the team is preparing to unleash their vision into the space.
From industry veterans who hail from the likes of NYSE, NASDAQ, Goldman Sachs, and Bloomberg, Interdax is poised to become the true competitor to BitMEX that this space so desperately needs. Built from scratch in C++ by some of the best professionals in the industry, and with the help of the best trading technology in the industry, Interdax will be the first massively scalable derivatives exchange built to handle whatever activity is thrown its way.
At maximum capacity, the exchange can take on up to 300,000 transactions per second per pair. To put things into perspective, BitMEX is capped around 500 tps, which is why it has historically faltered at times of massive activity. Even mainstream counterparts like CME max out at just 10,000 transactions per second. Within this cutting edge environment, traders will be able to place trades with up to 100x leverage on major cryptocurrencies like Bitcoin, Ethereum, and Ripple. In each instance, the underlying traded coin will be used as collateral.
In addition, Interdax boasts several other unique features. Most notably is their novel “Trading Battles” feature. With trading battles, users can compete in trading contests where top traders win big. Trading battles will be specified by the trading stack, or how much players start with, the duration of the competition, number of participants, and the entry fee for each participant. Players can create their own trading battles, and the top performers of each battle win the pot. Additionally, the battle creator will earn a 1% commission on the total entry fees, and they’ll also receive an affiliate link to share with potential participants.
Testnet Launch, $100k Up for Grabs
With development nearing completion, the team is eyeing a testnet release of the exchange in January of next year. Alongside this month comes a free-to-play trading competition to win a share of a US$100,000 pot. Each participant will receive 10 demo BTC and one month to rake in as much profit as possible. The top 100 traders will split the pot, with the top 10 earning a majority of the $100k. This competition is available to everyone who pre-registers before testnet launch. Pre-registration can be found on the site homepage.
After the testnet launches, and users have an opportunity to try the exchange out for themselves, the Interdax team will begin their pre-crowdsale. Through this, users will have an opportunity to purchase the IDAX token. This token will be used to pay trading fees and buy in to tournament battles. Users who elect to pay fees in Bitcoin will have their fees automatically sent to purchase IDAX, creating a natural demand.
$1 Million Competition with Mainnet Launch
The mainnet for Interdax is poised to launch in either February or March of next year. Like the testnet launch, it will be accompanied by a trading competition. The only difference is that this one is ten times bigger. The same rules apply, except traders will be responsible for funding their own “trading stack” associated with the competition. In addition to the prize pool, any profits or losses accrued are 100% real. With superior technology to any other exchanges, the intention of this competition is to boost liquidity and adoption right off the get-go so traders can enjoy the best experience possible straight from initial launch.
Other Ways to Earn
In preparation for the testnet launch, there is another $100,000 giveaway in progress. When users pre-register on the site with just their email address, they will receive a unique URL they can use to refer other users. Each referral grants points to the referrer. The top referrer Will take home 10 BTC and 1,000,000 IDAX, and the top 10,000 referrers will all be eligible for a prize.
In addition to the primary giveaways, there will be many chances to win across the project’s social media platforms. Join the Telegram chat and follow Interdax on Twitter for the most opportunities to receive crypto!
Disclosure: This is a sponsored article and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research.