BitShares Forum

Main => General Discussion => Topic started by: merivercap on May 18, 2016, 07:11:48 am

Title: ** [ANN] BitCash MegaX: Counterparty-Free Smartcoin Exchange (alpha) **
Post by: merivercap on May 18, 2016, 07:11:48 am

Introducing a counterparty-free smartcoin exchange

Hello Bitshares community!

Thanks to Cryptonomex, svk and the Bitshares community the Bitshares exchange GUI is rock solid and continually improving. Thank you guys! This has enabled us at BitCash to tweak the GUI and create a very focused Smartcoin exchange we are calling BitCash MegaX! It will first allow people to trade Bitshares for Bitcoin using a BTC smartcoin and also trade Bitshares & Bitcoin with both a BTC & USD smartcoin! No counterparties! We won’t custody any assets! It will be a Smartcoin Exchange! You can check out the alpha version of our exchange at: https://bts.bitcash.org. Right now we have a few small orders in the Bitshares/Bitcoin exchange, but feel free to start trading and start creating a cash.BTC & cash.USD supply! We plan to start making the market for the other two pairs soon. Here is a GUI screenshot

How do the smartcoins we use compare with bitBTC or bitUSD?
Our design is different as described here “Introducing: CASH.USD …. where one is worth $1” (https://bitsharestalk.org/index.php/topic,22192.msg289288.html#msg289288) In short the maxium short squeeze ratio is 100.1% and there is no forced settlement. It’s very favorable for those that want to create a long term supply of smartcoins and that’s incredibly important for our ecosystem! Witnesses provide the price feed.

How can you help create supply?
As mentioned above all you have to do is click on the Borrow CASH.BTC or CASH.USD button on the upper right of the trading screen and provide sufficient BTS collateral. There is very little risk creating supply and selling cash.BTC for BTC. You can charge 0.1% to 1+% to go back and forth between the two. It’s better than having your BTS just sit there! You’ll make money! Just create a supply and be a bridge! You won’t be manually forced settled and if you don’t have enough collateral your positions will be sold at the price feed! It’s that simple and you should have peace of mind. If you’re a longstanding member of the Bitshares community I’ll be happy to exchange one cash.BTC for one BTC anytime!

Let me know if you guys have any questions. Hope you guys check out and support BitCash MegaX, the Counterparty-Free Smartcoin Exchange!

Also posted on Steemit (https://steemit.com/bitshares/@officialbitcash/-ann-bitcash-megax-counterparty-free-smartcoin-exchange-alpha-)

Title: Re: ** [ANN] BitCash MegaX: Counterparty-Free Smartcoin Exchange (alpha) **
Post by: ebit on June 08, 2016, 04:03:27 am

 +5% +5% +5% +5% +5%

Title: Re: ** [ANN] BitCash MegaX: Counterparty-Free Smartcoin Exchange (alpha) **
Post by: EstefanTT on June 08, 2016, 05:29:10 pm

+5% +5% +5% (I didn't see this thread when it came out)

Sent from my SM-G900F using Tapatalk

Title: Re: ** [ANN] BitCash MegaX: Counterparty-Free Smartcoin Exchange (alpha) **
Post by: merivercap on June 09, 2016, 06:18:00 am

Thanks guys!  We plan to eventually do some market making to help bootstrap trading....hopefully soon.