What is GlobeDX?
Globe (or GlobeDX – https://globedx.com/
) is a cryptocurrency derivative exchange that offers both users and institutions a platform for trading digital currencies. Once dubbed the “Coinbase for derivatives,” GlobeDX not only shares their vision, but is also Coinbase’s earliest investors.
GlobeDX is seen as a single, low-latency, open-ended, institutional-grade cryptocurrency exchange that offers 3 microsecond latency, ultra-high throughput and performance. Furthermore, GlobeDX and GlobeDX Research open-access data help provide intelligent data among institutional traders and investors.
But where did it all start and how did the exchange get started? For that matter, see who are the founders?
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GlobeDX founding team
The story begins with two men: James West and Shaun Ng.
James West is a technologist, digital asset pioneer, and traditional investor and entrepreneur. Shaun Ng is a trader, crypto enthusiast and physicist. Here, West will be the CEO of the company, and Ng will be the CTO.
This group of two used to be college roommates before going their separate ways to participate in PhD / commercial market programs. Some time later, they reunited and their original plan was to launch a business in the cryptocurrency market. Finally they realize that the biggest gap in the market is not really in market formation; it is in the exchange aspect. Knowing this, they took on the role of global market watchers.
The company held its first fundraising round on March 18, 2019, raising $ 150,000 from its core investor, Y Combinator. On November 20, 2020, in another round of fundraising, the company received $ 3 million from a host of top investors such as Y Combinator, Pantera Capital and Timothy C. Draper.
West and Ng’s goal was to bridge the East-West gap and provide solutions to the various problems that were common in the crypto space at the time. Furthermore, they hope to help direct the market to where they think it will eventually need to be.
How does the GlobeDX compare to other exchanges?
All existing cryptocurrency derivative exchanges have been affected the most from:
- Lack of innovation. Globe was created and was the first to offer VIX bitcoin futures, and is one of the first few transactions to use a perpetual DeFi contract.
- Difficult to use and invasive.
- Declining in value under even the slightest pressure from the market, leading to unfair results for traders.
- Unsafe custody, lack of appropriate institutional safeguards.
- Severe lack of API support.
Globe stands out from the rest of these exchanges. Globe launch introduces new future cryptocurrencies, bringing existing resources fragmented under one roof, can be registered in seconds, distributed, and withstand orders have greater stress levels than previous-generation exchanges, offer covered cold storage, an easy-to-use websocket API with sample clients, and no internal trading desks.
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Globe has a vibrant and growing community and has received support from some of the biggest whales in crypto. These are the entities that support this platform because of a desire to see better solutions to the derivative exchange model.
Globe supports users from most countries around the world, except the US. It provides an extremely quick and simple registration process. As the only low-latency derivative exchange, it is the link that traditionally connects finance with the world of digital assets. And it does so in a seamless manner that benefits everyone.
Token GlobeDX GDT
The token of the platform is GDT (Globe Derivative Token). GDT was created with the aim of supporting the safety and enduring integrity of Globe’s markets, while improving growth, while delivering a more enjoyable and refined user experience. end.
The GDT token has many functions. First of all, it can be used to provide fee discounts calculated by the number of tokens that the user owns. For example, those who own $ 100 GDT will get a 5% discount, while those who own $ 10,000 GDT will get a 20% discount. It can also be used to pay transaction fees. This is extremely useful because everyday traders know all too well that transaction fees and fee discounts can make a difference when calculating margins and guaranteeing returns.
Betting GDT offers a Globe Rewards bonus, which is a unique system for completing certain missions that will give you lottery tickets, giving you the chance to win XBT every two weeks. .
Additionally, the GDT will be used as collateral for trading pairs, allowing users to amplify trading results.
GDT is allocated as follows:
30% will be held by the company
20% will be distributed to the team
20% will be collected by users
15% will be distributed within the Globe ecosystem (to make exchanges work smoothly)
15% will be used for the insurance fund
Globe will buy back and burn GDT tokens every week, this happens until 50% of the total supply is burned. The redemption will be made up of 30% of the transaction fee and 10% of the fee obtained from all sources. This helps slow down the token inflation and reinforces the value of the remaining GDT.
Ultimately, the GDT token is an essential element of Globe’s future as a powerful and unique cryptocurrency derivative exchange. This is the next step in ensuring the success and further development of the exchange, providing an attractive and attractive system for traders to use regularly. There will be more information about the GDT token, its functionality and integration in the Globe ecosystem in the near future.
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