The market for decentralized exchanges is growing, and Coineal is the latest one to be launched. A result of the collaboration of South Korean and Chinese crypto enthusiasts, Coineal will be launching with its native token, NEAL.
The total number of finite NEAL tokens to be produced is 10 billion NEALs. The trading platform is built to make the cryptocurrency trading easy for users by simplifying the process and reducing the trading fees.
The whole platform will be decentralized; therefore, the data of users will be protected from access by hackers. Users can acquire the native NEAL tokens by purchasing them or mining them through a POW-like mechanism.
Users who acquire NEAL before the launch of the platform are not allowed to sell their tokens and can only sell after the platform achieves a stable operation. This will create a more stable environment and ensure the best performance for community members that have contributed towards it.
The platform is the first ever collaboration between Chinese and South Korean officials in building a smarter and better platform to meet investor needs. The platform will charge a 0.3% fee for trading. However, traders who hold more than a specific percent of NEAL tokens will be given a smart discount.
The team behind Coineal is a group of dedicated technical specialists, blockchain experts and digital currency investors from South Korea and China. The team is experienced and had been leading a number of other blockchain-related projects to gather momentum in the South Korean and Chinese communities. They are an ambitious group of people and want to see blockchain communities flourish in their countries.
The team behind Coineal wants to create a world-class blockchain asset trading platform. They want to provide users with free, safe, and professional cryptocurrency exchange services. The complaints regarding cryptocurrency exchanges have significantly damaged the trust of crypto investors, where many have claimed that crypto exchanges resort to fraud and do not fulfill their obligations.
In such a toxic environment, Coineal wants to stand out as the leader in the crypto exchange industry by providing investors with full liquidity for digital assets, to enable investors to trade cryptocurrencies, freely.
Currently, Coineal has established offices in South Korea and China. In the near future, the platform plans on extending its offices to Singapore, Japan, the United States, Russia, and other countries. This will help them build their brand image and develop an integrated global business. Coineal aims to stay competitive on a global scale by following this approach.
The platform Coineal is developing is safe from DDOS attack through their DDOS defense system. Moreover, the technical team behind the platform is highly experienced enough to handle any unfortunate situations.
One of the first tradeable assets on the platform will be the MT, the native token of the biggest Chinese cryptocurrency ticker app. By capturing international investments and offering users attractive tradeable assets, Coineal aims to attract a large userbase.
The platform will be provided in the form of an application, which users can use over the web, on Android, iOS and H5 devices. The platform supports a number of different languages and will offer 24/7 customer service to satisfy the needs of their customers.
Coineal will set up community nodes, where each node will act like an independent crypto exchange. A certain amount of bonus will be distributed on the community nodes, if the node achieves a certain amount of workload. To create a further incentive for the traders that choose Coineal, the platform will distribute a share of its profits as a reward for operating nodes and managing the exchanges.
The NEAL Token
Coineal will be offering 10 billion of their native NEAL token. The tokens will be used by traders to acquire services from the platform. Investors will be rewarded for holding NEAL tokens and will be provided with discounts on trading fees for holding a specific amount of tokens. Holders of NEAL can also use their tokens to buy other cryptocurrencies. For example, NEAL holders can trade their tokens for MT on a 1 to 1 parity.
Traded NEAL tokens will be burned immediately to protect the platform from corruption. In the future, Coineal will offer trading for other cryptocurrencies using a ratio system. Traders will be allowed to exchange 66 NEAL with 66 MT per day, and the exchangeable MT will also be limited to just 300,000.
Since the platform is a decentralized exchange members will be asked to participate in the community. Selected members will be allowed to serve on the Governance Committee and will be allowed to vote and participate on important matters.
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Source: Crypto Potato