In a bustling cryptocurrency market that sees a slew of projects being launched by the hour, the mention of another cryptocurrency exchange ready to open its gates for trading sounds like a non-event. It makes for a compelling proposition when you consider what CIFDAQ has to offer.
CIFDAQ will deal in Spot Trading, Perpetual Contracts, OTC, DeFi, DEX, Futures, P2P, Staking, Margin Trading, NFT, Arbitrage Module while providing Deep Liquidity, and multiple deposit & withdrawal options.
However, what catches the eye is a selection of some unique products and services that have yet to be showcased to global traders. These are Synthetic Assets, Mix-Breed Assets, AI-Powered trading bots, White Hole Vaporization & Swaps, and Trading Triplets – it does make it stand out in the chaos. The myriad of functionalities and services on offer make CIFDAQ a worthy contender.
We spoke to Himanshu Maradiya, the Founder & CEO of CIFDAQ to find out what it is that drives him. In his own words, “CIFDAQ has set its sights on being an extremely secure and bankable cryptocurrency exchange where users meet and trade their desired assets which include Mix-Breed, Synthetic Assets, and striking trading variants. It will endeavour to become a preferred ‘go-to’ trading destination by those who look at the convenience of trading multiple asset classes and under a single-window too. The services and products to be showcased are likely to make it a serious challenger for established Exchanges. It aims to reach out to the underserved population which numbers 2.5Bn and facilitates inclusion for all.”
The unprecedented rise to fame of Binance in just four years making it the first cryptocurrency exchange to clock a valuation of $100+ billion and Coinbase at $45 billion make the cryptocurrency exchange segment a truly lucrative playfield. The cryptocurrency market valuation is expected to touch $10 trillion by 2023. Currently standing at just under $3 trillion, it is the fastest asset to hit a trillion-dollar valuation out beating even gold and the greenback.
The lacunae in the existing banking system are the reasons why even today, more than 1.7 billion individuals are unbanked. There are currently close to 2.5 billion individuals who are underserved by the present banking system.
Inequality and exclusion seem to be kind of embedded in this hackneyed system. The cost of borrowing by smaller corporations sounds the red alert and one becomes unsure whether it’s a debt trap or a death trap. This poses a serious threat to economic growth and prosperity.
DeFi presents solutions to problems that have plagued mankind for centuries. When such innovation is combined with blockchain technology, it can’t be called a fleeting phenomenon.
Himanshu Maradiya was also asked if he plans to launch his own cryptocurrency. He promptly said “Of course Yes, the exchange will have its own native cryptocurrency called CIFD, and all the customers that choose to use it as their native currency stand to benefit in various ways and formats. Besides, CIFD will be the first utility token to have an intrinsic and extrinsic ecosystem that pans across the micro and the macro. The utility which CIFD will eventually govern may also make it a store of value.”
The first module of the exchange will be launched in Q1 of 2022 and will include Spot, Perpetual Contracts, Margin Trading, P2P, Futures, and Trading Bots.
The second module rollout will be staggered across Q2 & Q3 and will include DeFi, NFT and other premium trading instruments that are hitherto unseen by the World.
Two statements made by the exchange remain in memory and they are (1) CIFDAQ – The HEXchange. (2) A Token (CIFD) that Talks & An Exchange that Speaks. Given this and many other takeaways that were provided during the Bulls-Eye QnA hour, the traders in the crypto segment should brace up to adopt this Crypto Gen-Z Exchange.
Stay tuned for more during Q1 2022.