Short Description: JOYSO suggests a hybrid design for token trading, combining the advantages of a centralized exchange - fast and fully-featured - with the advantages of a decentralized exchange - improved security and privacy.
Category: Tokens Cryptocurrency
- All orders are limit orders, giving users the best possible price.
- Smart matching is done off-chain, providing fast processing and one-to-many matches.
- Smart matching eliminates security issues like front-running and makes arbitrage by the exchange transparent.
- One-to-many matches merge multiple orders into one transaction, so gas fees are substantially lower than in first generation decentralized exchanges.
- The exchange cannot alter the balance in a user’s account, and has no access to the user’s assets.
- Users do not need to log on to a website; they just sign the bid or ask using their own wallet and send ether directly to the smart contract.
- Users have the ability to cancel transactions up until they are matched and can even lock the smart contract themselves.
- Completed trades are published on the blockchain in a transparent, traceable way. Compared to its competition, JOYSO has a low cost structure and offers users lower transaction and settlement costs.The marketing strategy includes aggressive pricing (including free listing for ICOs) and professional, targeted digital marketing. The development team comprises eleven people and is based in Taiwan. It has deep connections with the Chinese-speaking Bitcoin and Ethereum communities.Wallet support currently exists for Metamask and Ledger Nano S.The project is currently in alpha and a beta release is scheduled for June 2018. Proof of concept has been done on all principal functions and the team is ready to migrate the system to the Ethereum testnet. Margin trading and cross-exchange are part of the second phase launch.200 million JOY tokens will be issued in total; 100 million of them in an ICO event commencing March 1st, 2018.