This Project Will Transform Trillion-Dollar Crypto Exchange Industry
As the blockchain space evolves and enters our daily life, market capitalization and trading volumes of blockchain projects will grow, respectively. Cryptocurrency exchanges will likely be one of the biggest beneficiaries of the growing crypto economy. The industry's largest players are already generating hundreds of billions in yearly revenues and are considered to be the most instrumental players in the industry.
Faster, safer, easier, and cheaper are traits of disruptive technology companies that can command much higher valuations than traditional counterparts because disruptive technology companies can do more with fewer resources.
This project that I am going to review is new to space but I believe potential to become one of the top exchanges in the industry leveraging the Binance security and liquidity with a better feature that I am going to explain later in the review.
Introducing ZEN: Next-Gen Smart Exchange Ecosystem
Zen exchange could become one of the big cryptocurrency exchange. The exchange harnessing the power of Binance Cloud which is among the highest-ranked company in the industry.
Its native token, $ZCX. The project has developed a strong ecosystem for global traders and retail investors combining the functionality of a secure CEX, DEX, AI-driven social indicator, and binance liquidity.
Market Opportunity
Although the market for cryptocurrency trading is highly volatile and difficult to forecast, It may revolutionize the global financial system and, according to some reports, reach a value of $5 trillion to $40 trillion in the next 10 years.
However, while there are a lot of opportunities, the competition in the market is also high. In fact, since 2017, the market has seen tremendous growth in number of centralized and decentralized exchanges.
Currently, CoinMarketCap is registering around 300 exchanges, and it is likely that this number will only continue to increase.
Talking about Coinbase it is the oldest crypto exchange in America. Coinbase has operated a near-monopoly in the United States for years. But even with a 10-year head start, it’s still burning through vast quantities of cash to function.
Plus, because Coinbase is centralized, it’s plagued with many of the same problems blockchain itself seeks to eradicate (e.g., middlemen, potential hacks, centralized databases, etc.).
Like other disruptive tech companies, Zen Exchange aims to topple its traditional competition — like Coinbase — through innovation.
So what is it that makes Zenexchage so much faster and cheaper than other crypto exchanges?
Although the competition is really tough, Zen Exchange could be considered one of the most actively developing players in the space. It is keeping up
with trends in the industry and going to offers a wide range of products for its users with ZEN’s Solution like All the hottest listings so users no need send fund on multiple exchanges to buy into a hot new project, another feature I personally like is Social Sentiment Indicators will keep you up to date with the latest market sentiment.
It’s created an innovative way to increase liquidity on the exchange by developing its ecosystem in several different directions that help attract liquidity and remain competitive in the market.
The Current State Of Cryptocurrency Exchanges
Centralized exchanges are still the number one spot trading volume producers by far. They are also the most trusted means of exchanging cryptocurrencies.
But more and more trading volume is venturing into decentralized exchanges. Centralized alternatives are losing market share and revenue projections are proving that this is a growing trend.
The shifting tide in volume can also be accounted to new Defi initiatives like Uniswap and the ease-of-use it presents which has attracted a lot of new investors and risk-takers.
This is where Zen Exchange comes fueled by products and applications enabled by a mix of decentralized and centralized liquidity connecting trading applications, products, and services that are deeply interrelated ZEN Ecosystem — equipped to tap into a large portion of centralized trading volume, as well as to take on the shifting tide towards decentralized liquidity, providing high regulatory compliance, fast listing times, low listing fees, low trading fees, and deep liquidity with a broad and easy-to-use portfolio of trading products.
Having an ecosystem with trading products from various liquidity providers reduces the necessity of our users to move funds between exchanges and thus reducing risks of lost funds.
ZEN also hosts an innovation incubator, managed by JUN Capital, for supporting breakthrough projects in the early phases of their technical development.
As per my conversation with the team they already have 10+ projects that will be supported by the Zen Incubator program projects are included from Polkadot, Cosmos, and other ecosystems at starting.
The project also offers flexible staking for its users. Exchange will support a large variety of crypto assets, so the offer looks very attractive for users that are looking to earn passive income and make use of the coins that they are holding for the long term.
Zen Exchange Partnership
ZEN has straightened with key partners to provide best-in-class exchange, advisory, and project support services. From embellished data feeds to government compliance and incubation of new projects. All of this has been enabled by close collaborations with top industry leaders in their respective domains.
There is the possibility of a partnership with the government and companies for STO also because of NDA team didn't disclose much.
Token Economics
Zen Exchange utilizes its own token, $ZCX. Currently, this is an ERC-20 token and it has multiple forms of utility.
$ZCX utilizes deflationary token economics, which could naturally increase the value of the token in, ZEN Exchange operates on top of the Binance Cloud service, and functionality of $ZCX is analogous to that of $BNB on Binance. Listing fees will partly be paid in ZCX and 50% of listing fees collected will be distributed into the following allocations:
👉 Insurance fund
👉 Burn- ZCX will be burned with every paid listing
👉 Staking rewards- allocated to a staking pool
ZCX Token Sale & Allocation
The current total supply is equal to 33,750,000 $ZCX out of 1,000,000,000 $ZCX Total Supply.
$ZCX Token Utility
All things considered, Zen has developed thoroughly thought-out token economics, where the value of the $ZCX token is tied directly to the success of the main trading platform. Moreover, the demand for the token is likely to increase as the project introduces new use cases.
ZCX DAO: Decentralized Autonomous Organization
Another interesting thing I like about exchange ZCX DAO giving listing power on exchange back to the community, Zen Exchange will utilize a decentralized autonomous organization(DAO) to support in listing new projects that have
been vetted by the Zen governance board and meet all the necessary listing requirements.
👉 ZCX holders will be given a meaningful voice in what digital assets are added to Zen Exchange and empower users to vote for the projects they believe will shape the future.
👉 ZCX will be staked in order to vote in the DAO, which will be ready by Q3 of 2021.
ZenExchange Team & Advisors
Zen has a highly professional team with substantial experience in blockchain technology and trading I think, and also have a first-mover advantage building hybrid liquidity exchange while there are a number of liquidity solutions available in the market, they are almost all chain-specific.
The team building the functionality of Dex like Uniswap with fees almost nothing compared to currently we pay on uniswap and combining it with centralized exchange powered by Binance. importantly, pushes the asset exchange capabilities into the cross-chain dimension.
ZenExchange Roadmap
The most important milestone for the project in 2021 is the launch of exchange and quality project listing with high liquidty. Launch DEX and cross-chain liquidity is planned for the Q3 of 2021.
The exchange also plans to grow its presence on different local markets and is going to continue its global expansion. Movement into local markets will
include establishing onramps to enable the purchase of crypto with local currencies.
All things considered, I think Zen Exchange has developed thoroughly thought-out token economics, where the value of the $ZCX token is tied directly to the success of the main trading platform. Moreover, the demand for the token is likely to increase as the project introduces new use cases.
More About ZenExchange
Website: https://zencex.com/
Twitter Account: https://twitter.com/ZencexOfficial
Telegram: https://t.me/zencexofficial
Exchange: Currently token is not available for trading, still private sale going on and public sale will be announced later, join ZenExchange telegram group for info.
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Disclosures: This Medium Article is strictly informational and educational and is not investment advise or a solicitation to buy or sell any tokens or securities or to make any financial decisions based upon this review do your researsh before invesment. I may personally own tokens that i review.