SingularX is Here!
The Decentralized Exchange for Intellectual Property
By Zach LeBeau, CEO of SingularDTV
Tokit, our project creation and rights management application, launched yesterday on in November. With Tokit, we generated the SNGX token which powers SingularX’s economic infrastructure.
The revolutionary thing about SingularX — aside from empowering artists to be their own economies — is that all transaction fees generated by the exchange are embedded in the SNGX token. This means that anyone holding SNGX can withdraw the revenue pushed into it, or store it there. SingularX is an important part of the SingularDTV entertainment economy and we look forward to generating millions of dollars of value for SNGLS token holders.
We’re going to do something that isn’t typically done in today’s cryptosphere — we’re going to prove the SingularX tokenized ecosystem is successful and prosperous before we release SNGX tokens to the public. This is something that doesn’t happen today… everyone releases a token based on an idea or a whitepaper and then goes out and attempts to prove it. We’re doing the opposite.
Before I go any further, I’d like to thank Zack Coburn, the creator of EtherDelta. Zack is a true visionary in the cryptosphere. EtherDelta has been in operation for more than a year now and until recently was the only decentralized exchange in existence. EtherDelta served as the inspiration for SingularX. In fact, Zack consulted on the construction of SingularX throughout the summer of 2017. Initially, it was my personal hope that SingularDTV could have acquired EtherDelta — tokenized, optimized and rebranded it — but it didn’t work out that way… thus SingularX was born.
SingularX has many similarities to EtherDelta. Why reinvent the wheel? EtherDelta has been heralded by some as the most successful decentralized project on Ethereum — up until Tokit and SingularX of course, ;-). But seriously, SingularDTV needed an exchange in which all intellectual property generated via Tokit could be listed and traded. It’s a crucial component to artists and creators becoming their own economies. After all, we can’t expect centralized exchanges to list all the tokens generated via Tokit, especially the way things are going down behind-the-scenes in the USA now. While SingularX’s architecture is similar to EtherDelta’s, there are some significant differences between the two. Let’s explore those differences…
1. A newly designed front-end with full customizable UI, each trader can build their own layout based on their preferences.
2. New modular design to make it easy to add new features in the future for new types of trades (encourage people to provide suggestions).
3. New back end infrastructure to improve reliability and responsiveness.
4. Security improvements.
5. Integrated support channels for users with the S-DTV support team.
6. Removed reliance on etherscan performance (coming soon).
7. External API access (in BETA).
8. The biggest difference is that SingularX (SNGX) is Tokenized!
The SNGX token was generated by Tokit and utilizes its revolutionary smart contract technology. All transaction fees generated by SingularX are pushed into the SNGX token for holders to store or withdraw. The ownership breakdown of SNGX tokens is 45% to SingularDTV, 45% to Centrality and 10% to Digital MOB.
All revenue pushed into the SNGX tokens owned by SingularDTV, will be further pushed into SNGLS — the token that powers the SingularDTV tokenized economy. We look forward to the benefit this brings SNGLS token holders. If SingularX can reach the activity level or beyond of EtherDelta, this would mean millions of dollars a year SNGLS holders can benefit from.
We look forward to building SingularX into a trading library of international intellectual property as well as a profitable platform that enriches the SingularDTV economy.
Zach LeBeau, CEO of SingularDTV