Tezos-Based Synthetic Exchange SEXP To Start Presale Today

by | May 14, 2021 | DeFi, Latest

Tezos-based synthetic exchange SEXP to start presale today. SEXP will provide a decentralized solution for trading synthetics.

Disclaimer: DeFi is high risk and the following article contains no financial advice. It is recommended that thorough research is undertaken on any DeFi/blockchain applications, utilizing multiple sources, before participating with any blockchain projects, or tokens in this space. Read our full disclaimer here.

SEXP – A Synthetic Exchange On Tezos

SEXP will provide a decentralized solution for trading synthetics. When trading synthetics, you try to predict price fluctuations instead of holding the actual asset that you want to profit from.

For a full explanation, read the first article on SEXP here. The fact that you don’t actually buy the asset, means that anything can be traded on blockchain without the need for wrapped, or tokenized assets.

As long as you have an oracle that updates values for the asset that is part of the contract, the sky is the limit. You could have a synthetic for Apple or Tesla if the oracle can update values for the smart contract.

Compare this to the tokenized assets that Binance provides since a few weeks, then we see that the need to apply security regulations and get SEC approval does not apply when you trade synthetics.

Why? You don’t hold the actual assets or tokens that are backed by those assets. Binance will have to follow regulations and will need to KYC investors and make sure these investors can only trade according to the applied regulations.

“Additional KYC measures, including proof of address, will be required for German residents. Meanwhile, the service is not available to residents of the U.S., mainland China, Turkey, and other restricted jurisdictions.”

On SEXP, anyone can trade synthetics. Trading synthetics is not regulated, since you don’t actually trade stocks or tokenized stocks. No KYC, no regulations and no Nasdaq market hours (Binance follows Nasdaq market hours for their tokenized stocks trades).

SEXP is a fully decentralized DEX that allows anyone to trade through fully decentralized smartcontracts that run on Tezos. This means no restrictions, 24/7 trading and fast transactions with low fees.

SEXP Tokens

SEXP tokens will be used for fees on the SEXP platform. More use-cases for SEXP token will be added as the platform matures.

SEXP token distribution will be as follows:

  • 10% Marketing
  • 10% Platform Incentives
  • 20% Operations & Dev Grants
  • 20% Founding Team (locked)
  • 25% Locked for Public Sales in the Far Future
  • 15% Public Sale & Presale

SEXP tokens will be tradeable after the public sale. (So not this private sale. There will be another more widely announced public sale for SEXP tokens.)

SEXP token is deflationary with limited supply.

“We are going to have various deflationary mechanisms, such as burning unclaimed airdrops and fees. Together with finite supply, this should create a desirable trajectory. As the platform grows and we launch more products, the SEXP token is going to be used across all of our products. I like what Binance is doing with BNB, where they are adding new uses for the token constantly.”

SEXP presale

The presale is going to run from Friday 14th to Monday 17th. Make sure you understand the concept of the presale and the public sale before you participate. You don’t buy an amount of tokens, you buy a percentage of an in advance unknown pool of investors.

The amount of tokens are capped (15% of the total supply will be distributed through the presale and the public sale which will take place at a later stage.) but the amount of USD to be invested is uncapped.

“The aim is to distribute the SEXP token as widely as possible, and provide long term supporters with the most accurate entry price. If we had a fundraising cap, we would attract more short term focused flippers, but our long term supporters would be entering at worse prices.”

The advantage you’d have by buying through the presale, is the fact that you’ll get more SEXP tokens for your money.

Your extra token amount will be calculated by formula that takes into account how many days the public sale will take place after the presale. Read all about the presale and the public sale here.

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