Digital Assets Exchange Interdax to be Launched in January 2019 with $100K Trading Battle
Originally published on: CoinSpeaker
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December 24, 2018
Having already spent 18 months on designing its cryptocurrency trading platform, international digital assets exchange Interdax has announced the upcoming launch of the project, which is planned to go live in January and to become a direct competitor to Bitmex.
Interdax represents itself a third generation digital asset exchange, which is focused on derivatives, primarily perpetual swaps and futures. The company boasts a strong team of professionals who came from pioneering crypto projects and well-known financial institutions from Wall Street and the City of London.
Interdax has been coded from scratch in highly optimized C++ by professionals that sum 200+ years writing production trading systems in the financial markets. The platform’s matching engine can handle over 300,000 transactions per second, which makes Interdax one of the fastest exchanges both in crypto and traditional finance. Moreover, the platform is the second crypto exchange in the world (along with BitMEX) to use KDB+/q, a high-frequency trading technology reserved for elite financial firms.
Apart from the top engine, Interdax is going to innovate the trading market by offering its users a brand new option – trading battles. A battle will be held in the form of a competition, where all the participants start with the same balance, have fixed time limit and try to turn their trading stack into more than their opponents.
Users will also be able to create their own battles by setting the desired starting balance, time limit, number of participants (fixed or unlimited) and the wager value in the platform’s native IDAX coin. Once the battle is created, users will receive a unique battle link and the battle will be publicly listed on the battles page. The user who created the battle will receive 1% commission from the total sum of the wager amount once the battle has commenced.
The testnet launch is expected in January. To celebrate the testnet, the company will hold a battle tournament with $100,000 as a prize pool. Anyone can pre-sign up and try his trading skills. All participants will start with 10 demo bitcoins and, after 1 month of trading battle, the top 100 balances will share $100,000, with the top 10 balances winning the majority.
The official launch is expected in February/March with a $1,000,000 tournament which will last 1 month. The only difference from the testnet tournament will be that, with the official launch, real cryptocurrency will be traded on the platform.
Interdax is not another ICO which raises money and promises a product a year later. Having already worked on the project for a year and a half, the platfrom is ready to start operating once the pre-crowdsale kicks off. In January, all users will be able to try trading on the network and see that all the company’s claims are true. The platform will be powered by the native token IDAX. The more IDAX users hold in their accounts, the less transaction fees they will incur.