What is EliteX Exchange?
EliteX (www.elitex.io) is proud to be launching our beta release of the first digital asset exchange integrated into the Lisk ecosystem (www.lisk.io). This beta will feature our spot trading platform with BTC, ETH, USDT as well as LSK trading pairs. As such, we are building the exchange with the express intention for it to function as the primary exchange and marketplace to launch and trade future Lisk tokens. Right now we are in the process of accepting and reviewing a number of blockchain projects to list on our exchange. EliteX would like to give a big shout out and thank you to all the Liskers and other new members who participated in the alpha testnet phase which ended in February, as well as the participants who answered our questionnaire. All of which gave us some very valuable feedback, helping to prepare our platform and iron out initial bugs, ready for launching on the mainnet today. Once this first beta phase is complete, in addition to the spot exchange we aim to launch an OTC trading facility in July, followed closely with the launch of our contract trading and leverage platform later this year, featuring a full suite of trading order types.
We’d like to give a special shout out and thank you to Richard from LML (www.gny.io), the first project from within the Lisk eco-system to provide us with valuable support. And Eugen from MADANA (www.madana.io), for giving us advice and guidance from our earliest days onwards, as well as the guys from Moosty (www.moosecoin.io) at the Lisk Center in Utrecht (www.liskcenter.io), for all their help and input to get this project off the ground. Finally, we’d like to give a shout out and thank the good folks at www.blockvibe.io, who have also been extremely helpful and supportive. We look forward to continuing a long and fruitful relationship going forward, and to connecting with the various Lisk and crypto communities that we have had the pleasure of interacting with since our inception, from Korea, Hong Kong and Japan, to Germany, the UK and Australia, and many other places in between.
Working with Lisk
As a one-stop shop platform — a strategy that EliteX intends to emulate in the exchange industry — Lisk utilises sidechains for the development of new blockchain projects, an innovation that neatly solves the speed and scalability issues that have proven to be difficult roadblocks for blockchain development and growth to date. Lisk sidechain tokens function freely as wholly independent blockchains which connect with, and run in parallel to the Lisk mainchain, enabling cross-token transactions without jamming up Lisk mainchain functionality. We are very pleased to have a productive relationship with Mat, Community Lead at Lisk HQ, and Max, the CEO of Lisk, with whom we are currently in discussions centered on the development of the EliteX DEX.
Our roadmap: OTC and Contract Trading
As mentioned above, after today’s beta release of our spot trading platform, EliteX will be hard at work expanding the range of investment products and trading functions, with the OTC trading facility scheduled for completion in July, and included as part of the official launch of version 1.0 of EliteX Exchange. This will be accompanied by the necessary development of KYC compliance, as well as other tools such as project information and tracking and tools for trading risk assessment, all of which will culminate in the launch of version 1.1, and the addition of a fully-featured contract trading suite.
The next logical step: a Decentralised Exchange (DEX)
Work will then begin in earnest on the EliteX DEX, the first decentralised exchange built on the Lisk network, which will itself be a token-driven sidechain project ready to launch in 2020. The development of the EliteX DEX will be entirely open source and most crucially, trustless. That is, it will be a secure, peer-to-peer, on chain, fully auditable trading platform, enabling traders to buy and sell digital assets without third party mediation or oversight. Traders will also benefit from the added security that trading directly from their wallet provides, retaining personal control over private keys, and therefore full control of one’s digital assets. Furthermore, the built-in scalability of the Lisk sidechain ecosystem makes it an ideal blockchain protocol for the high-volume transaction demands that a comprehensive, end-to-end, on chain DEX platform entails.
At EliteX we believe that the movement towards decentralisation that blockchain technology is ushering in will inevitably create sweeping and unprecedented changes to the way the world is run, technologically, economically, as well as socially. As we grow we intend to play a role in that future. By developing our trading platform on the Lisk network, and aligning with Lisk’s stated intention to make blockchain as accessible as possible, we are certain that this goal will be accomplished. It is our vision that EliteX will rank in the top 20 exchanges globally by 2021, and by 2023 in the top 10.
The EliteX Exchange would not have even been possible without the backing and support of the Elite Center and its newly established Elite Foundation, a start-up incubator providing entrepreneurial mentorship, management and funding to Lisk projects and thereby supporting the growth of the Lisk eco-system as a whole.