This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

    CROSS is a project aiming to develop an exchange platform that trades various digital assets globally including CROSS exchange for the coming digital asset and digital money society.

    The value of CROSS (XCR) is to “provide a platform for exchanging all kinds of digital assets.”

    The purpose of this IEO implementation, is to improve the value of XEX issued by XCR and CROSS exchange.

    CROSS is designed to use transaction fees for the XCR buyback & burning (burning of of XCR tokens).

    XCR’s value can increase through the buyback and burning of XCR by transaction fees through the various services provided by CROSS.

    The buyback and burning of XCR will most recently be made through the following services:

    Transaction fees for cryptocurrency prepaid cards using XCR, which launch in September RMT (Real Money Exchange) transaction fees, which will start in September Transaction fees for a blockchain-based point issuance system scheduled to start around October~November

    CROSS exchange, which initially opened as the CROSS project on 11/25/2018, quickly became a world-class cryptocurrency exchange expanding its name of CROSS exchange and CROSS (XCR) to many users globally.

    CROSS (XCR) ended its private sale early 2018, gained more than 30,000 token holders, and there were many requests for additional sales. To date, we have promoted the XCR value premium without any additional token sales.

    As a result of investigating the timing of listing for XCR, the value of this token will be improved through:

    1. Reducing the total number of tokens issued by approximately 700 million
    2. Long-Term lock-up of about 21% for Super Nodes of XCR circulating in the market

    These two points are reflected in the token design.
    * Recalculation at the end of the IEO and reflection of the number of tokens

    In terms of technology, the Xwallet (expected release during Q4) and the CROSS network have three international papers and patents (accepted) for autonomous distributed technology.

    Based on this technology, our “autonomous distributed wallet” and Xwallet are connected by autonomous distributed technology to form the CROSS network.

    This autonomous distributed technology boasts the following:

    A decentralized cryptocurrency exchange with very low hacking risk
    A cryptocurrency wallet with insurance
    A QR code payment wallet

    This can be used for many services related to storage, management, and trading of digital assets.

    In the future, various applications and platforms will be connected to the CROSS network, and XCR will be consumed in service operations and transaction processing to build a token economy.

    Use Cases of XCR

    Core token functionality that can be used for various services within CROSS exchange
    Super Node staking function
    Transaction revenue return function
    Purchase of a cryptocurrency prepaid card, ONECARD, with XCR
    XCR digestion when issuing blockchain base points on the RMT platform
    Utility token function digested in various platforms deployed on the CROSS network
    Mining rewards resources after the mainnet release
    Blockchain based point issuing system

    Purpose of Conducting an IEO

    Aiming to raise 100,000,000 XEX through IEO implementation
    Establish a private fund (the XEX Private Fund) funded with 100,000,000 XEX
    Buyback of XCR and XEX with the XEX Private Fund
    Secure development funds through XEX revenue sharing

    Use of XEX Fund Assets

    ⇒ 25% used to purchase XEX (mainly to boost liquidity)
    ⇒ 25%, used for XCR burning and to increase liquidity
    ⇒ 50%, used for CROSS network development costs

    XEX acquired by the XEX Fund will be in a 100% permanent lock-up (including initial acquisition)

    Market Impact

    XCR’s large-scale repurchase of XEX significantly reduces the XEX market distribution. Further, the XEX Private Fund will continue to purchase XEX, reducing supply and potentially increasing value. Regarding XCR, we expect market circulation to gradually decrease and scarcity to increase through the buyback & burning by the XEX Private Fund.

    Token Design after the XCR IEO

    XEX Token Design
    Up to 7.4% of XEX Total Mined Quantity (vs. ~1.34 billion) to be permanently locked

    XCR token design
    Reduce the total number of issued tokens from 1.6 billion to 900 million
    Up to 21% (~120 million) of the market circulation (~550 million) will be locked at listing

    Roadmap

    January 2018
    CROSS (XCR) private sale started

    November 2018
    CROSS exchange opened

    December 2018
    Architecture on CROSS network completed

    March 2019
    Obtained patent for autonomous decentralized technology

    April 2019
    Adoption of International Papers on autonomous distributed security technology

    August 2019
    Adopted International Paper on autonomous distributed security technology
    and on decentralized exchanges using decentralized technology

    September 2019
    Opening of a real money trade market
    Start trading XCR in a real money trade market

    September 2019
    Start of the cryptocurrency prepaid card “ONECARD” service

    CROSS
    https://cross.technology

    CROSS exchange
    https://www.crossexchange.io

    telegram
    https://t.me/CROSS_XCR

    twitter
    https://twitter.com/exchange_cross

    Supporting Link
    https://support.crossexchange.io/hc/en-us/categories/360000989812

    This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

    The post PR: Cross Exchange Launches IEO appeared first on Bitcoin News.



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