Aphelion DEX: Key Differentiators
Working in a new and competitive space, we often get asked: what sets Aphelion apart from other exchanges both centralized and decentralized?
Aphelion Key Differentiators:
Aphelion is Wallet Based — The Aphelion platform is unique in that the DEX resides directly in the Aphelion wallet UI as shown below:
Funds never need to leave your wallet in order to trade and you never need to import your keys to any website; you retain total control at all times. This means that users get to enjoy the full features of the wallet (including real time chart data, transaction history, contacts and more) while strategizing and initiating trades directly between users. This equates to a safer, faster and easier trading experience as we’ve eliminated layers to trading completion that frankly open up users to additional issues and risks. Aphelion brings a NEO first: a truly decentralized peer-to-peer wallet based trading experience.
Unique Fee Structure —Leading an industry shift, Aphelion will only charge a small flat rate APH token fee for each match. In our research, all other exchanges (centralized or decentralized) are charging fees in a percent based model. With Aphelion DEX, for example, if you initiate a trade that required 10 matches you’ll be charged that APH flat rate 10x regardless of the amount being trading whether its $100 or $1M. There will be a tiered scale that we’ve yet to release. We’ve also yet to release that amount of APH that will be required for each match but we can commit to saying that it will be transaction based fees (small ones) and not percent based fees. We also commit to having the fees be competitive or better than anything else available at the moment.
APH Fee Distribution Model — We knew way back when we released our initial whitepaper that we wanted to do something different, we wanted to set ourselves apart from the thousands of tokens being minted in ICOs and we wanted our token to have a utility. We also wanted the community to benefit from holding and trading APH tokens, as well as, from using the Aphelion DEX. That commitment directly led us to the unique Aphelion redistribution model.
What does this mean exactly?
It means at the outset we promise to redistribute 80% of all APH spent during Aphelion DEX trading straight back to Aphelion holders. The Aphelion organization will only retain 20% for maintenance and ongoing development. This differentiator is huge in that we are not aiming to build a for-profit exchange entity, we are building an exchange engine by the people and for the people. In transparency, the percent distributions could in theory change but only to reconcile with organizational costs not to reap profits like the other exchanges.
These three differentiators together represent a fundamental shift in how exchanges are built and managed. We believe our model will disrupt the status quo and finally bring the power into the hands of the community itself and allow Aphelion to fulfill on our mission to create a truly decentralized experience that blockchain and NEO technology have been built to realize.
It may go without saying that our community, tech team and management strategy, I believe, are the glue that holds the vision together, and without the strengths we have in our people, none of the differentiators we’ve built hold any strength.
With that being said, we owe everything to our growing community, world-class developers, contributors, advisers and management team as you are the biggest differentiator we could have ever hoped for. A huge thank you to all Aphelions everywhere, we are grateful for you.
Side note: once our DEX drops, we’ll do a follow up more technical article to demonstrate key differentiators in terms of publicly released code to compare the differences in security, speed and overall experience at the code level.
In closing, we’ll be releasing a new wallet/DEX update version coming in the next day or so that will include major upgrades to the current test DEX UI, 6 language integrations, a Windows installer, commit/claim/compound APH functions and much more…release notes to be included. We also expect iOS to come very soon, so keep a close eye on that.
Have a great weekend all!
-Ian
