Korea South - 08-10-2019 (PRDistribution.com) — Upcoming crypto derivatives exchange project, Bitfex.com, developed by the highly experienced team at IDAP, is having a very busy third quarter in 2019. Now backed by early-stage VC firm, Sparx Ventures, the crypto startup is enacting its vision to consolidate crypto trading markets worldwide, beginning by expanding its presence in South Korea with an IEO on one of the top Korean exchanges, ProBit Global.IDAP recently announced that their derivatives exchange will go live on the domain bitfex.com, and will be known as BITFEX. The project’s token, formerly known as IDAP has been rebranded to BFX. The team behind IDAP earlier mentioned that Sparx Venture’s managing partners, Simon Gerovich and Colin Baker, would be joining the project to help IDAP expand globally. This strategy seems to be in play with the BFX IEO being held on ProBit.
BFX, the ERC-20 utility token powering the IDAP and Bitfex ecosystems, comes with numerous benefits for its holders. The tokenomics of BFX have been designed to transfer maximum value from the business to the token holders. One attractive benefit is that traders who buy and hold a certain threshold of BFX get to enjoy commission-free trading on the Bitfex exchange. Designed to accommodate different traders with different needs and aspirations, the Bitfex exchange will attract traders of all levels to its ecosystem. The Desktop Trading Platform, with many features like semi-automation through advanced conditional orders, multi-workspace creation and most importantly, one-click ladder trading, is modelled after legacy systems but retooled for crypto sensibilities. While the more experienced traders will likely use the desktop platform for both real trading and testing strategies, new entrants can hone their skills through the simulated trading environment that runs on real-time market data on the web app to familiarize themselves with the markets and systems before progressing to real-world trading.“Crypto is huge in Korea as well as the wider Asian markets, and it certainly qualifies as one of the major crypto trading centers. We have seen how welcoming Korean traders have been to spot exchanges. There is a huge community of derivatives traders, as evidenced by the huge volume on traded in KOSPI options, and they will welcome an exchange offering diverse products and robust trading platform. IDAP’s derivatives exchange Bitfex, will be optimal for the kind of experience they wish to have while trading the crypto markets,” said the startup’s CEO, Awanish Rajan.
PR representative from ProBit added, “Derivatives exchanges serve an important demographic of traders and help in growing the space. IDAP's initiative is in the right direction and their trader-friendly approach will benefit users. We're excited to host their IEO.”To learn more details on how you can participate in the IEO and own BFX Tokens, visit the official IEO page on ProBit.
About IDAPIDAP is building the first complete crypto derivatives ecosystem, introducing an institutional-grade exchange with Bitfex, which will list low-risk trading products including exchange quoted spreads using an advanced & secure desktop trading platform. Through a diverse line of trading products and creating a platform with cutting-edge ‘point-and-click’ ladder trading interface, IDAP is looking to tap the relatively unexplored crypto derivatives market.
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