Copyright © 2018, CloudEX.app
ClouedEx.app is a safe, efficient, and easy-to-use decentralized trading platform. On the trading site of CloudEX. app, the trading processes and interfaces resemble traditional exchanges that make it easy for users to exchange tokens directly from their wallets with investors around the world.
Token issuers can also apply for our EaaS (Exchange as a Service) service to quickly build a proprietary token trading website or they may also integrate the EaaS into the enterprise website or dApp. Users do not need to leave the enterprise service; moreover, they can quickly get to know the current token market situation, exchange, or purchase freely. EaaS has definitely improved the token circulation.
A decentralized exchange is an exchange market that does not rely on a third-party service to hold the customer's funds. Instead, trades occur directly between users (peer to peer) through an automated process. This system can be achieved by creating proxy tokens (crypto assets that represent a certain fiat or cryptocurrency), assets (that can represent shares in a company for example), or through a decentralized multi-signature escrow system, among other solutions that are currently being developed.
The most obvious benefit of using a decentralized exchange over a centralized one is the former’s "trustless" nature. Users are not required to trust the security or honesty of the exchange since the funds are held by them in their personal wallet and not by a third party.
Another advantage to the decentralized model is the privacy it provides. Users are not required to disclose their personal details to anyone, except if the exchange method involves bank transfers, in which case users’ identity is revealed only to the person that is selling or buying from them. Furthermore, the hosting of decentralized exchanges is distributed through nodes, which means that there is no risk of server downtime.
On CloudEX.app, you don’t have to register; all you have to do is to obtain a supported wallet of CloudEX.app. We currently support the MetaMask browser extension (available on Chrome, Firefox, and Brave).
We currently support the MetaMask browser extension (available on Chrome, Firefox, and Brave). We are looking to add more integrations in the future.
Wrapped Ether (WETH) is a simple ERC20 standard token. WETH is designed to convert (a.k.a. wrap) ETH to be tradable ERC20 token in CloudEX.app. Users can unwrap WETH back to ETH anytime, but it’s convenient to “park” the fund in WETH to avoid frequent deposit Tx fee. Please note that CloudEX.app doesn’t charge any fee for wrapping/unwrapping ETH.
On CloudEX.app, the available balance changes with user’s order activity so that any tokens the user placed an order with will no longer be "available" for trading in his/her CloudEX.app balances. For example, say the user has 10 ETH in his/her wallet and then he/she creates a buy order, buying REP for ETH at 3 ETH.
The user’s available balance will display 7 ETH, while the wallet will continue to show 10
When the user creates a new order, we determine the fundability of the user’s order based on his/her Available Balances. If the user has have enough open orders in a given token to lower the available balance to zero, the user won’t be able to create any additional orders that trade out of that token.
Users can start trading tokens immediately when connecting to their wallet. For trade privacy, they are requested to verify the connected address to access personal trade history and to execute order actions. Once they place an order, the system will verify the sending address in the same process. They can check the recently-placed order in My Order section right away.
In order to trade their own ERC20 or other compatible standard tokens, users should turn on the settings on blockchain that confirm that they are allowing that certain token to be transferred. When the order has been matched and settled, the amount of token will be transferred to the counterparty. It’s very important to note that CloudEX.app doesn’t transfer any token without users’ permission.
Tokens can only be traded when they are unlocked. Users can lock the tokens again should they think they would never trade the said tokens anymore. Users may also opt to lock the tokens for security purposes, but we don’t recommend users to lock/unlock tokens frequently since those actions entail gas cost.
For example, the user has 10 ETH in his/her wallet and he/she creates a sell order at the price of 5, then the system will match the best buy order (price) for the user. Suppose the user’s sell order is completed at the price of 6, then the user gets extra profit than expected, which is at the price of 5. The user can then reclaim his/her extra profit.
Users can apply to reclaim the fund anytime. The system will execute the refund transaction after a certain period of time. As of to date, the clearing duration is 24 hours for security purposes.
EaaS means ”Exchange as a Service“. We provide the users with more than an exchange with our API and widget. With these, users can easily build their own exchange embedded into their official website and they can list their own token.
Token issuers are welcome to apply for EaaS in order to build their own private exchange or embed it into their enterprise website or dApp. Though the EaaS platform, token issuers can have their investors trade their tokens directly on the official website without relying on any external exchange.
As being an token issuer, you can set transaction as you want.
CloudEX.app will charge you only 0.1% transaction fee.
Anyone who wishes to list a token may visit our application page: https://cloudex.app/apply.html