COOPEX-The Coperative Exchange



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Today, many exchanges struggle with customer support. There are simply too many users trading on large exchanges at once for exchanges to keep up with demand. On Gemini, for example, user verification (done via customer support) can take months. Bittrex is notorious for taking incredibly long to unlock user accounts that have been locked for no reason, Further, in January 2018, demand for exchange accounts grew to be so high that when Binance closed new account registrations due to server overload, individuals began selling their own accounts for hundreds of dollars each. It’s clear that trading volume needs to be spread more evenly across many exchanges to distribute the load, for both the sake of the exchange platforms and the customer support teams.

The current state of exchanges in the cryptocurrency space is improper at best, and downright detrimental to the expansion of the industry at worst. New projects struggle with being listed on a decent exchange, regardless of the project’s merit or userbase.

Many exchanges charge ludicrous fees to list a new token and take grudgingly long to do so, even after receiving payment. In many cases, this ruins the credibility of the project and bankrupts its investors. Further, users of exchanges are often charged high fees for every action they make.

Deposit fees, maker fees, taker fees, and withdrawal fees all go to the exchange, never to be seen by the user again. What do exchanges do with all of the money? They certainly don’t need all of the millions that they make. Their fans, the users of the exchange, should be able to reap the rewards of exchange growth and trading.

Customer Service

Many exchanges have poor customer service; we understand how aggravating it is for a user to wait months to have their account unlocked or a support ticket responded to. Projects, additionally, often have to wait months to get listed. COOPEX ​will be as transparent as possible with projects about listings – we have no interest to deceive or mislead projects. Post ICO, we will hire a customer service team to handle any exchange issues users may encounter. We plan to use Zendesk for this

SERVICES

We provide an array of trading services for our customers.

Trading

Utilize our fast and responsive trading UI to exchange new tokens with major coins. We plan to move Ethereum and ERC20 tokens to a decentralized exchange in the future.

Exchange Listings

We provide exchange listing services for your favorite projects and we do not charge listing fees. Interested in listing on COOPEX? Please fill out the form here.

Token Buyback

Once a month, COOPEX will aggregate at least 75% of exchange trading fees and use them to market buy and burn COOP exchange tokens. We won’t tell you until afterwards, so don’t keep your sells open!

Exchange API

We provide an API for developers to build on top of our exchange (currently under development).

Marketing

We believe that an exchange is only successful insofar as it is able to market and advertise itself. The biggest exchanges are the ones that pay heavily for marketing. The COOPEX ​team will use 50% of all ICO funds raised for long-term marketing. We are confident that our ICO funding will give us a large enough marketing fund that we will never actually run out of it entirely – and if we do, we plan to use our percentage of trading fees to supplement the marketing budget. However, being a cooperative, we also expect our users to market the exchange. After all, 75% of exchange revenue is given back to its users via the COOP token.

COINS

COOPEX offers trading pairs with many different coins and tokens. We plan to primarily list new ERC20 tokens and pair them with industry-leading coins such as Ethereum, Bitcoin, and Bitcoin Cash.

COOP Token

The Cooperative Exchange Token (COOP) is the COOPEX ​platform token. Every month, 75% of COOPEX ​trading fees will be collected and used to buy back the COOP token and burn it. The token will be bought on the actual COOPEX ​market at market price. We will not perform any OTC trades. This token buyback program will increase the price and decrease the supply, incentivizing exchange users to buy and hold the token. The COOPEX ​project is committed to decentralization.

We understand the security concerns associated with running a centralized exchange. We take many steps to ensure exchange security, but sometimes even that isn’t enough. Thus, in the future we plan on decentralizing the Ethereum and ERC20 portion of the exchange, similar to the IDEX smart contract, and the COOP token will be used as a base asset and for gas (fees)

ICO Details:

The pre-ICO began on June 28 and lasted until July 1.

The ICO began on July 3. The ICO will last for one month or until 9,000,000 tokens are sold, whichever comes first. The price during the ICO will be approximately $0.10/COOP, and the prices in BTC/BCH/ETH may be adjusted to meet that price. Current prices are as follows:

1 COOP = 0.0000144 BTC

1 COOP = 0.00012 BCH

1 COOP = 0.0002 ETH (currently disabled)

Any tokens unsold by the end of the ICO will be burnt.

Please note that participation in the ICO and use of the exchange is limited to non-US citizens only.

Expected circulating supply: 10,000,000

Expected total supply: 12,000,000

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Roadmap

COOPEX founded

April 2018

The idea for the Cooperative Exchange is created and a team is assembled.

Backend development completes

End of May 2018

Development for the backend of the exchange completes. The exchange is in a closed alpha mode.

Pre-ICO begins

June 18, 2018

The front end is completed, the Whitepaper is written, and COOPEX opens in beta mode. A pre-ICO for the COOP token begins.

Pre-ICO ends

July 1, 2018

The pre-ICO ends and preparation for the full ICO begins.

ICO begins

July 3, 2018

The full ICO begins with several currency pairs. Some active markets may also open during this period. The exchange is still in its ‘beta’ version. Marketing campaign begins.

Complete COOPEX API Development

End of July 2018

The COOPEX API will allow other developers to build tools on top of our exchange. The API is currently under development and we expect to finish by the end of July.

ICO ends, COOPEX officially opens

On or before August 3, 2018

The ICO will be completed either on this date or when 9,000,000 COOP tokens are sold. At this time or soon after, the exchange will officially open in ‘production’ mode, with bug fixes. Marketing campaign is ongoing.

Front-end UI improvements

August 2018

The exchange UI will be updated to feel more modern and responsive. We intend to introduce an easy-to-use yet intuitive trading UI. The first token buyback will also occur during this period.

Introduce market-making solutions

August 2018

We aim to partner with a market-maker and liquidity provider for our customers. We understand how important liquidity is in a market and we plan to use ICO funds to provide these services free of charge.

Introduce margin trading

End of August 2018

We are currently working on a margin trading solution for COOPEX and we are planning to finish by the end of August 2018. Our margin trading platform will feature shorting and longing on a selection of our markets. Leverage trading will be available as well.

COOPDEX Development Completes

September 2018

Development for COOPDEX, the Cooperative Decentralized Exchange, will begin in late June 2018 and we aim to complete it by September 2018. This will take time as we will be rebuilding a large portion of the exchange.

Open OTC trading and liquidity desk

Q4 2018

We aim to provide liquidity solutions for other exchanges via market-making, as well as an OTC desk for institutional customers.

Team

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Website, Whitepaper, Telegram, Bitcointalk thread, Facebook, Twitter

Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1048360