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The Cryptocurrency ICO space has been riddled with scams and false promises. During other times the projects fail due unforeseen circumstances. Moreover, the cryptocurrency has reached a mature phase where a plethora of blockchain project no longer offer high USP.
IDAP.io is a blockchain based trading platform that will keep record of trades and transfer balances to accounts using their native IDAP token. The co-founder of iDAP.com Awanish Ranjan, has claimed that their vision is to “Built a crypto exchange we’d like to use.”
After raising nearly $2 million through a private sale in Q2 of 2018, they have reached a major milestone on 31st January 2019 by launching the test-net of their trading platform. They are offering numerous distinctive features including derivates market support.
The Test-Net is currently accepting BTC, ETH and LTC. IDAP is an ERC-20 token built on Ethereum, all the coins are pre-mined, and their total capacity is capped at 1 billion coins. The platform plans to keep 75% of the tokens for public sale, 10% for liquidity on the exchange and rest 15% to support the developing team.
The coins are not tradable currently on any platform. The fact that the test-net is version is released is before public token protects the ICO investors from losing value due to a price dump. A gap of 17 days has been assigned for market development and platform recognition so that the IDAP token holds real transaction volume at the time of public release.
The IDAP.io platform will offer a variety of investment tools to trade or even speculate on Bitcoin. They will offer spot-trading, F&O, Perpetual Swaps, peer-to-peer lending, ICO venture fund and ETFs. The markets IDAP is targeting is entrapped in web of regulatory laws and limitations. The company has assigned 6% of their budget to address legal concerns.