
India based company Genotik Solutions will launch and hold a Pre-ICO and ICO rounds for the development of their decentralized exchange, called Genotik. The Genotik Exchange platform will provide users with secure and convenient digital currency exchange services, high-quality stability and pricing of global digital currency, and a global blockchain asset trading platform unlike previously heard of.
The market of crypto currencies still experiences high volatility of price differences due to non-centralized exchanges. Genotik will open its own connected chain of global exchanges through its own company proprietary and private blockchain. This will allow that the prices of introduced and traded coins be purchased at the same prices throughout the globe on the Genotik regional platforms. Traders from anywhere in the world will then be able to analyze the market better and benefit from the trading/investing on the platform for the long-term. At launch, the exchange will support all the popular crypto currencies as well as ERC20 tokens. Genotik will also opt for a user voting scenario for the introduction of new crypto currencies and ERC20 tokens on the exchange platform.
Users will be able to access the Exchange and their funds from anywhere in the world and trade at the same rate irrespective of the user’s country. The exchange will also supply a multi-currency wallet to each user. The user will always remain in control of the private keys of the wallet and their funds. Except when the user wants to trade, they will then need to transfer the desired amount from the wallet to the trading account.
Every user transaction will be logged on the Genotik proprietary and private blockchain. This provides additional security and transparency as every transaction needs to meet 80% consensus. Additionally, it will be impossible for the exchange or the user to distribute, remove or alter transaction without it being placed on the financial ledger.
The blockchain ledger will handle all the user data such as KYC and AML (standards based on the residence country of the user), as well as other required data to support the complete exchange functionality. It will also handle all withdrawal and deposit activities using smart contracts with the added benefit of fast, secure and convenient transactions. This blockchain in itself is private, however, through the explorer provided by Genotik, anyone can view transaction data, amount of transaction and crypto currency traded while user identity and data remain discernible.
The development team behind this project will be launching an ICO for the purpose of securing funds for development and other company activities. It will open a sale of its tokens, GEN Coin, using a smart contract developed on top of the Ethereum blockchain. The collected funds will assist in the development of the blockchain and channels of regional exchanges globally.
Genotik is preparing for its pre-ICO sale of GEN tokens, which will go live at 00:00 UTC on August 28, 2017, and last for a duration of fifteen days. Pre-ICO investors receive an increased 20% bonus of purchased token during the pre-ICO. Additionally, after the development and launch of Genotik exchange, 25% of company net profit will be distributed between GEN token holders on a yearly quarterly basis during the next seven years. The exchange will follow a release after 6-8 months after its ICO. The token sale is being held via its own website, Genotik.com.
ICO Related Information:
Name: GENOTIK Token
Ticker: GEN
Supply: 80,000,000
Ethereum Based Tokens
Pre-ICO Start: August 28, 2017 00:00:00
Pre-ICO End: September 12, 2017 00:00:00
ICO Start: September 20, 2017 00:00:00
ICO End: October 19, 2017 00:00:00
ICO Tokens: 80,000,000
Accepting: BTC and ETH
Exchange Rate: 1 BTC = 8000 GEN / 1 ETH = 600 GEN
Website URL: https://genotik.com
Learn more about GENOTIK, GEN token, and the ICO through their whitepaper:
www.genotik.com/whitepaper
Chat with us here: https://www.bitcointalk.com/
Press Contact Email Address: pr@genotik.com