Apollo (DAE) Token Review – ICO Token News
Adoption of cryptocurrencies is increasing, and so is of the tokens and coins. Over $4 billion worth of cryptocurrency is traded every day, with some crypto exchanges trading volumes above USD 200 million in a day. Compared to forex volume, crypto still has a lot more scope. So, it’s the right time for the setting up of a crypto exchange with an exhaustive ICO list displaying prominent ICOs like Sapphire Coin (SPH), BunnyToken, Cryptoneum (CRP), VIMarket (VIT), Dencity (DNX) and Thekey (TKY). With thousands of crypto coins like Bitcoin, Ethereum, Litecoin, Zcash etc. to trade for, investing into a blockchain could pay off, but it may prove to be a gamble as a better coin could be made anytime. An exchange handling $200 million in trades per day will have processed $73 billon in trades, which is more than 99% of the combined market cap of altcoins. So, instead of creating another blockchain, a quality exchange is needed. An exchange also has better odds of being in the business for long than most of the altcoins.
Exchange Problems and Solutions
Lack of Immediate Customer Support
Crypto exchanges like Bitfinex, Poloniex and GDAX3 often do not provide immediate customer support. You have to communicate with them through emails, and the process may take weeks and months to complete. In case you are in urgent need when something goes wrong, few of the crypto exchanges could provide immediate help.
To overcome this problem, Apollo DAE provides different levels of urgency for support system. For urgent help, one can choose urgent to get connected to an agent via email, phone chat or call. One can choose other levels of urgency to get the response within a day, few days or a week via email. In case the support system is abused or it costs Apollo more than what it makes in revenue, the customers may be charged a fee of $1 t0 $10. However, the platform developers are focusing on developing the platform so that there are minimum requests for customer support.
The Problem of Low Liquidity
New and small exchanges often face the problem of low liquidity. It could take them years to increase the liquidity on their books. It may take them years to get the user volume with massive price swings. To attract more users, some exchanges may offer zero-fee trades. But free trade is financially not feasible. It will be difficult for the exchanges to meet the costs of servers, security, tech, insurance etc. if they charge low or do not charge at all. Eventually, the cost per user will overtake the revenue generated per user.
To overcome this issue, Apollo DAE will connect with other well-known exchanges for sharing the order books. Backend API connections will be used to trade user orders on other exchanges when volume is not available between the Apollo traders. Users won’t have to specify anything for trading as the platform will automatically get them the best possible trade from the exchanges it connects with. The connections also protect the users from flash crashes. Since it offloads massive orders equally across all connected exchanges, a malicious trader would have to place massive trades for the coin price to drop low enough to stop loss orders and cascade margin calls.
Apollo ICO Problems and Solutions
There are some great ICO projects out there like CoinMetro, Serenity and there are some near impossible and scams too. ICOs are set to raise way too high capital, Most ICO list projects fail to launch because they are run by inexperienced persons, are technically impossible or the funds are wasted. The hackers may also siphon out the funds of the investors by passing out non-Ethereum company addresses. Not much effort has been put into their smart contracts. Moreover, a typical ICO sale uses early investor incentive program in which early investors get more tokens than those joining later. This approach works in favor of the company raising funds and the early investors.
Apollo ICO is designed differently. They will be selling Digital Asset Exchange or DAE tokens that unlike many other ICOs will have multiple uses, besides being used for paying fees on the platform. A user will not be required to have DAE tokens to use the services of Apollo platform. However, having DAE token before using the Apollo will be beneficial for the user.
Innovation in Apollo ICO
With the issuance of Apollo Voting or AVO tokens on ICO list, the platform ensures that the investors’ money is not misused or wasted. This is the common problem with the current ICOs. Companies raise funds through crowdsale and then use the raised capital as they wish to, which often results in failed ICO. AVO token holders have control in their hands and they can ensure that the funds are used in the right way.
Apollo is issuing 2 types of tokens in their ICO sale. The investors will not only get Digital Asset Exchange or DAE tokens but also Apollo Voting Tokens or AVO tokens. AVO tokens will have no market value and can’t be transferred. They can only be used as market system.
DAE are the main tokens being offered on ICO list with the additional benefit of MSP pricing.
- Supply: I Billion
- For sale: 500 million DAE
- Price: $0.04 per DAE – up to $0.10
- Use: Apollo Fees
- Smallest unit: 000000000000000001
AVO tokens are only used for voting and wallet security. These can’t be traded or purchased after ICO.
- Supply: 1 per USD raised in ICO
- For sale: 100%
- Price: No value
- Use: Paid voting
- Smallest Unit: 1
- Start date: Late February 2018
- End date: Late March 2018
- Hard cap: 500 million DAE
- Price: $0.04 per DAE – up to $0.10
- Deposit: BTC, LTC
Pre-sale has already been successfully funded.
Benjamin McDaniel: CEO and Founder
The primary goal of Apollo is to create a digital asset exchange or DAE platform that provides multiple beneficial features to the investors like:
- Market protection from malicious traders
- Advance yet easy-to-use trading tools
- Liquid trading book
- Market and trading information
- Advance security
- 24 x 7 customer support
The platform developers are merging Forex with blockchain technology to provide better trading experience to the traders and creating a better community for digital assets.