Troy Trade is a global prime broker specialized in crypto trading and asset management. They provide crypto brokerage services for institutional clients and professional traders with revolutionary products, including spot & margin trading, derivatives, data, custody, lending and staking in one account.
Problems & Solutions
Problems of centralized exchanges:
- Fake Trading Volume: Centralized exchanges often falsify and wash trading data to fill liquidity traps and lure users to trade, often resulting in losses of users' assets.
- Opacity and Centralization: Centralized exchanges have all the access and rights to the data of the trading happening on their platforms, so that they can maliciously abuse their privileges to create numerous profit opportunities thanks to their God perspective. So some exchanges will be a referee as well as a sportsman in the same game and harvest the retail traders by various illegal methods, such as illegally issuing extra tokens, carrying out insider trading or manipulating the price.
- Lgnorance of Security Management: There are too many risk exposure in the centralized exchange, such as the closed-source code, theasset custody process that too many people get involved in. These processes are often opaque and centralized, which is easy to cause a lot of security bugs. Taking the famous "Mt. Gox " as an example, 850,000 bitcoins were stolen from Mt. Gox and then the exchange broke down in 2014, casting a shadow over the whole crypto industry. But in the end, most of the stolen bitcoins were stolen by their own staffs rather than getting hacked by outsiders.
Problems of decentralized exchanges (DEX):
- Poor User Experience: Because DEX is the trading happening on the blockchain, its account addresses are the same as the typical public and private key used in the blockchain. The keys are lengthy，meaningless random string, which is not conducive to users' memory and preservation. In addition, the trading steps are very different from the regular financial trading habits, which causes bad user experience.
- High Latency, Low Efficiency and Poor Scalability: DEX needs to execute on the chain when it works, so that it takes more time to call smart contracts, reach consensus and execute trading orders than a centralized exchange does. If there is a network jam, the trading speed will be further reduced or even unusable. Given the extensibility bottleneck of the current public chain, DEX is also difficult to support the trading behavior of high density and large number of users. For example, IDEX, the famous decentralized exchange, has been unable to use due to surging trading volume for many times.
- Simple, Basic Trading Tools: So far, DEX can merely support simple pending orders, withdrawal orders and direct trading, but cannot support entrusted trading, stop-limit order, market price trading and other complex trading functions.
- Poor Liquidity: Users are not willing to trade on DEX due to poor user experience, primitive trading tools and shallow trading depth. Additionally, due to poor scalability of the public blockchain, DEX does not support large-number high-frequency trading, which is not conducive to market makers that can provide trading depth. Furthermore, many DEX did not fully consider the incentives for market makers at the beginning of design. Therefore, trading mainly relies on the natural coincidence of trading, which leads to poor natural depth and liquidity.
- Lack of Fiat Currency Entrance: DEX is limited to trading between crypto assets, and there is no exchange gateway between fiat currencies and crypto-currencies. So it is less attractive to users who used to trade by fiat currencies.
Troy Network is aiming to build a world-class financial platform based on the mature fundamental infrastructural blockchain, to serve all professional financial institutions as the most advanced crypto assets trading platform, and to provide any kind of commercial applications with full-functional trading tools, by aggregating the liquidity of all major global crypto exchanges and inheriting the advantages of DeFi financial service (decentralized, borderless, trustless).
- Build a decentralized trading and settlement network in the mode of "application + protocol";
- Strengthen application layer commercial barriers (operations, resources and traffic, etc.), reducing the hard fork risks;
- Connect and aggregate the liquidity of centralized and decentralized exchanges;
- Break through the scalability bottleneck of the current decentralized exchanges;
- Cross-chain interoperability, compatible with a variety of native tokens;
- Built-in dark pool trading features, which can support the dismantling and execution of block trade.
Features & Highlights
Aggregated Trading: Troy provides users with full access to the aggregated liquidity of a group of crypto exchanges. Some key functions include smart order routing, flexible account management, dark pools, settlement service and automatic risk management.
Data Analytics: Troy supports customer’s decision making with blockchain data, trading data, market data, social data and media data optimized by AI and quantitative models.
Diversified Brokerage Service: Troy offers a range of services including real-time fund transfer and settlement, margin trading, OTC, etc.
Full-Stack Asset Management Solutions: Troy is powered by co-location and low-latency access service to improve high-frequency trading algorithm performance. It also provides exposure to quantitative solutions with straight through processing, precise tick historical data and strategy assessment system.
Token Sale & Economics
- Project website: https://troytrade.com/
- Project whitepaper: https://troytrade.com/whitepaper/Troy%20Network%20Whitepaper_EN_V1.0.pdf
- Token sale start time: TBA
- Ticker: TROY
- Token type: ERC20 as TGE
- Total hard cap: $13,500,000
- Total supply: 10,000,000,000 TROY
- Initial circulating supply: 1,290,000,000 TROY
- Public sale token price: 1 TROY = $0.005
- Private sale token price: 1 TROY = $0.007
Token Utility & Use Cases
In Troy Network, the native token TROY is designed as the medium of value circulating as the blood in this organic network. Furthermore, TROY also acts as the gas fee unit when users call up the trading and settlement functions. TROY merely functions as utility token, which has no characteristics of any forms of security nor promises any returns derived from the token itself . Its functions are embodied in the following aspects:
Functions as the medium of value circulating as the blood in this organic network;
Provides workload reward of Relayer network to encourage timely and accurate updating , broadcasting and synchronizing orders;
Serves as relay medium for the exchange of unconventional token trading pairs in ring matching;
Acts as the gas fee unit when users call up the trading and settlement functions;
Stakes as collaterals of nodes in Relayer Network.
Roadmap & Updates
- Q1 2020
- Launch Troy Trade V2.0 public version
- Satisfy compliance and regulatory requirements of target regions
- Establish strategic partnership with traditional financial firms and brokers
- Q2 2020
- Launch Broker SaaS Platform
- Expand the global introducing broker network and engage in on-boarding introducing brokers partners
- Q3 2020
- Implement decentralized trading and settlement functions
- Develop APIs and adopt off-chain channel techs
IOST: IOST is building a high TPS blockchain infrastructure to meet the security and scalability needs of a decentralized economy. Troy Network will improve its scalability and usability utilizing the off-chain scaling technology from IOST.
Celer Network: Celer Network is a layer 2 scaling platform that enables fast, easy and secure off-chain transactions. Troy will cooperate with Celer and adopt Celer Network’s novel and advanced state channel scaling technology.
Harmony: Harmony is a fast and secure blockchain with key innovations in state sharding and peer-to-peer networking. Harmony will collaborate with Troy in devoting R&D resources towards research and development of layer-1 scaling solutions.
Cocos-BCX: Cocos-BCX is a decentralized blockchain platform for digital game economy. Troy will work closely with Cocos-BCX to empower the trading of fungible tokens and non-fungible tokens in the blockchain games.
Ankr Network: Ankr is a blockchain-based cloud computing platform. Troy and Ankr will together build a new kind of cloud service for trading data storage and settlement.
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