Singaporean Flare foundation and IDAX International Block Chain Digital Asset Trading Platform.

Apr 18, 2019 · 4 min read

Singaporean Flare foundation and IDAX International Block Chain Digital Asset Trading Platform.

At 10.08 a.m. on April 18th, the chairman of Flare Foundation CHEN MING YIN signed a contract with Vincent CEO of IDAX Digital Asset Exchange at the headquarters of the Seychelles with a total investment of US$100 million to subscribe for the platform currency IT of IDAX Digital Asset Exchange. Together, we will build an IT ecosystem to achieve the goal of IT being the first in the exchange platform currency industry. The initial investment of $10 million for 20 million IT will be completed in a week. The project is divided into six phases and completed in two years. The price of IT coins is expected to exceed US$50 in 2 years with the help of the Flare Foundation. The cooperation between the Flare Foundation and IDAX is expected to complete the landing application scenario of the IT ecosystem within 5 years ahead of schedule.


IDAX (, created by the Global Blockchain Research Center (GBC), focuses on the global digital financial services platform for blockchain asset trading and has been supported by several national policies. The trading center is located in the GBC High-tech Industrial Park in the center of Ulaanbaatar City, Mongolia.

The platform brings together high-quality blockchain assets around the world to provide users with safer and more convenient blockchain asset exchange services, and strives to build an international blockchain asset trading platform in the era of decentralization.

IDAX supports three digital asset trading areas BTC, ETH and USDT, recently launched OTC transactions.

Digital assets held by institutions or users from different countries can be securely and smoothly traded through IDAX platform.

IDAX is online and operates the application layout under various systems such as Android, iOS, Website, and H5.

Based on existing currency transactions and OTC transactions, IDAX developed a smarter and faster transaction matching engine to meet the transaction efficiency needs of institutional users and ordinary users.

The new 3.0 engine’s matching speed now supports the highest level of 2 million transactions per second and makes full preparations for the open platform function of API transactions. The Market Push Speed now is 200% higher than the previous generation. Higher availability and fault tolerance of systems comparing with previous engine .

In January IDAX completed the layout of the “Prophet” risk control system. Each transaction contains 9 security guarantees instantly. After being certified by the Digital Asset Security Research Laboratories of many countries, IDAX will ensure the security and privacy protection of digital assets and personal information to the “banking level”. new risk control system: Prophet, a real-time risk management system based on big data and AI technology, combined with business rules and black and white lists for strategic control.

In order to build a more perfect world, IDAX launched IDAX TOKEN (IT).

IDAX tokens, short for “IT”, with total circulation of 200,000,000 tokens and will never be issued again.

IT is initiated by IDAX, and the decentralized blockchain assets jointly issued and regulated by GBC Group/Mongolian Genghis Khan Bank are based on the trust certificate of the ERC20 public chain.

IT is the universal token issued by the IDAX platform for the efficient interaction of the value within the platform. Through IT as a value certificate, it flows through the platform ecosystem to promote the active collaboration between the platform community and users.

IDAX core team will strive to build an exchange ecosystem with IT tokens as the core, pursue distributed autonomy of the platform, and gradually improve the self-circulation system. Ultimately, it will become an ecosystem in which all people participate and all people benefit.

About Flare Foundation

The Flare Foundation is an international organization approved by the Singapore government to be established in the One North Science and Technology City to promote global economic, financial, cultural, educational and economic exchanges and cooperation, independence, non-partisanship and non-public.

Since its establishment in 2007, the Foundation has played an important role in a wide range of friendly and cooperative relations with relevant government departments, cultural institutions, scientific research institutions, economic and trade enterprises, community organizations and other people from all walks of life, especially in cultural exchanges and cultural finance.

In 2013, the Foundation began to enter the blockchain investment field, and in the past six years, it has successively invested in over than 80 blockchain projects.

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