wys Token Exchange Listings

As stated in our timeline, the wys token will be listed on exchanges in April 2018. Over the course of the past months we have been assessing all listing options. We opted for two main exchange platforms to list the wys token in the beginning. Three main factors were essential for our decision: Listing fees, security and exchange architecture.

The crypto exchange market has been overheating in the past months. Crypto Exchanges nowadays charge up to USD 1 million for token listings. A listing in one of the major exchanges can certainly have a positive effect on daily trading volume. However, at the same time, it is not appropriate for projects like wysker to pay excessive sums for listings on these major centralized exchanges (CEX).

Our plan is to further establish the wys token as an utility token in the e-commerce market. Thus we are working on a steady growth of the wysker platform and allocate our ICO funds accordingly. For this reason, we opted to list the wys token on two decentralized exchanges (DEX) in the beginning.

So what is the difference between a centralized and decentralized exchange? To put it short, CEXs act like banks. You have to create a new exchange-controlled wallet and need to trust the provider with your funds. In contrast, DEXs enable trading of tokens directly from a holder’s private wallet. You never have to give up control over your funds. You can read more about CEXs vs. DEXs in my article: Crypto Exchanges Explained.

CEXs can not always provide full security, as shown in several cases. The whole point of decentralized concepts is to not hand over control to third parties. The centralized approach raises the risk of mismanagement, scams and hacking.

With increasing adoption, it seems like 2018 will be the year for DEXs. Nearly all major CEXs, such as Binance, are working on their own version of DEXs to keep up with the game. We are pleased to announce that we were able to list the wys token on two of the most promising DEX projects in the market: Radar Relay and Next.Exchange.

1. Radar Relay is a DEX build on the 0x protocol. It requires no accounts, limits and deposits while facilitating instant wallet to wallet trading. Through hosting an off-chain order book while settling transactions on-chain, a good balance between fees and speed is achieved. All non-settlement activities are essentially handled outside of the blockchain with the actual value exchange activity occurring on the blockchain. There are several exchanges build on the 0x protocol resulting in a shared liquidity pool to overcome the liquidity issue with decentralised exchanges. Radar Relay is officially registered as a Limited Liability company in California, United States. They recently secured a seed investment round and currently run a public beta with no trading fees. The wys token is available to trade starting today (6. April 2018).
2. Next.Exchange is a hybrid decentralized community-driven cryptocurrency exchange. It will be possible to buy and sell tokens for FIAT (via Credit Card or PayPal) on their platform. By removing one step in the buying process, the exchange will improve accessibility for the mass market. This aspect is especially interesting for wysker, since it needs to be easy for retailers to buy wys tokens. Next.Exchange is a public limited liability company incorporated and registered in the Netherlands. The wys token will be available to trade shortly after their public launch which is anticipated for the coming weeks.

While assessing exchanges, we came across several options. The now selected exchanges have a good reputation and serve our needs best. We are in direct contact with the developers and believe they will be the next generation of exchanges with increasing adoption. We are monitoring the market closely and constantly elaborate on further options for the wys token. Depending on the CEX market developments, we reserve the option for CEX listings at a later point. Any updates for exchanges will be communicated on our social channels.

To stay up to date, follow the official wysker Twitter account or join our Telegram community.

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wysker is a blockchain e-commerce company. By bringing the concept of window shopping to the mobile world, people can now discover products at hyperspeed. Just imagine a whole day of shopping compressed into a single wysker session.

Discovery is now reduced to a single-button that allows users to explore products at up to 20 items per second. A frictionless process rewarding users through wys tokens for downloading, sharing, and using the app. In the future, the token connects users and advertisers directly to make advertising more efficient than ever before.

For more information about the platform visit wysker.com and wystoken.org.