NEX

Platform for complex decentralized cryptographic trade and payment service creation

[Short general description]: NEX is a platform for decentralized cryptographic trade and payment service creation

 

Neon Exchange (NEX) aims to combine the performance of centralized exchanges with the trust and security properties of decentralized exchanges. The system consists of three main components: an off-chain trade matching engine, a smart contract where trades are executed, and a payment service where global assets such as NEO and GAS can be converted to tokens that can be transfered directly by smart contracts, making them compatible with the exchange.

 

[Main problems tackled]: 

 

1) Off-chain Matching Engine - allows NEX to benefit from the performance characteristics of centralized exchanges, while maintaining a decentralized user account model based on the blockchain

2) Trusted Off-chain Matching - the off-chain matching engine follows a publicly specified deterministic algorithm. By combining this knowledge with a public ledger of the order in which trades have been sent to the exchange and fulfilled on the blockchain, any user can verify that the exchange is operating fairly

3) Centralized User Accounts - NEX aims to bring a similar user experience to decentralized exchange by storing a user’s encrypted private key client-side in a user’s browser.

4) Types of Orders - NEX supports more complex trades such as limit and market orders.

5) Exchange API - allows users to place, modify, and cancel orders on the matching engine.

6) Fee Structure - market makers who place new limit orders on the order books will pay no fee, while takers who place an order at market place, or a limit order below the current market price will pay a small fee

7) Implementation - the NEX off-chain matching engine will be built in Elixir, a functional programming language designed to build scalable, distributed, and fault-tolerant applications.

8) Smart Contract for Token Exchange - The NEX matching engine communicates with a smart contract that commits trades between users.

9) Payment Service - the NEX payment service allows NEO smart contracts to interact with assets that live outside of the NEO virtual machine

 

[Main contribution proposal]: Decentralized Banking - NEX offers a long term vision of decentralized banking: a smart contract based funds management service for assets on the blockchain. 

 

Management service would be designed to provide both fund security and investment opportunities . This funds management smart contract can provide advanced security features through a dual key system consisting of a frequent use key and a large funds key. A user moving funds in NEX with the frequent key would be limited to a daily amount, and to trade above this threshold would need to provide their large funds key. If a frequent use key is compromised the user can lock their account using both keys and transfer the funds to a new account. Following the success of core exchange features, we envision this smart contract will integrate with and manage other NEX services, such as peer-to-peer lending or indexed investment accounts.

ICO Rating Analysis
Team Evaluation
5.00 / 5.00
Product
4.00 / 5.00
Token Economics
4.00 / 5.00
Business Evaluation
4.00 / 5.00
Hype and media presence
4.00 / 5.00

Analysis

Team - Founders:
Are the founders known? Do they have relevant experience and connections?
5
  • 1. Unknown people. No serious background information available.
  • 2. Partial information available, no relevant experience.
  • 3. Background information available, no relevant experience.
  • 4. Solid, relevant background and connections available.
  • 5. Solid, well known, experienced and well connected founders.
Team - Advisors:
What level of commitment, experience and connections do the advisers bring?
5
  • 1. No reputable advisors with relevant experience.
  • 2. Few advisors with little to no relevant experience.
  • 3. Advisers with relevant experience.
  • 4. Reputable advisors with relevant experience and connections.
  • 5. High profile highly experienced, well connected and committed advisors.
Product - Technology Layer:
Is the product innovative? Does it contribute to the blockchain ecosystem?
4
  • 1. No, the product is just a clone with no contribution.
  • 2. The product is a dapp with minimal interest and little contribution to the ecosystem.
  • 3. The product is a dapp, exchange or protocol addressing a real problem or need.
  • 4. Innovative product offering a solution to a high interest problem.
  • 5. Innovative protocol tackling critical problems of highest interest.
Product - Proof of concept:
Is the proof of concept comprehensive? Does it address a real problem or need?
4
  • 1. No, incoherent concept or no need for it.
  • 2. Difficult concept to understand, hardly any need or problem to solve.
  • 3. Clear concept which addresses a real problem.
  • 4. Clear, well thought concept which addresses a real problem of high interest.
  • 5. Exceptional proof of concept addressing a critical problem.
Product - MVP:
Has the concept been tested? Is there an MVP? How far is the launch?
4
  • 1. Untested concept.
  • 2. Initial tests, no MVP.
  • 3. MVP ready, Alpha launch.
  • 4. MVP ready, Beta launch.
  • 5. Fully working initial product.
Token Economics - Token utility:
Does the token have any utility? Is it a core function to the network?
4
  • 1. No, the token has no utility.
  • 2. Token has a limited, unclear utility.
  • 3. The token has some added, but not inherent value.
  • 4. The token is embedded in the network and has inherent value.
  • 5. The token has both inherent and added value and is embedded at the core of the network.
Token Economics - Network effect:
Are strong network effects built into the system? Are incentives aligned to encourage the growth of the network?
4
  • 1. No network effects built in.
  • 2. Minimal network effects, unclear incentives.
  • 3. Network effects and incentives present.
  • 4. Solid network effects with clear incentives due to inherent utility.
  • 5. Strong network effects, aligned incentives and high utility value.
Business Evaluation - Valuation:
Is the valuation reasonable ? Sufficient but not too high for the scope of the project?
3
  • 1. No, the valuation is ludicrous, the project could do with 1/10 of the sum.
  • 2. Valuation is higher than the project would need. Likely a money grab.
  • 3. Valuation is reasonable for the scope of the project.
  • 4. Valuation is modest for the caliber of the project.
  • 5. Valuation is impressively modest relative to the high caliber of the project.
Business Evaluation - Market potential:
What is the market potential? Does the project look like it could penetrate the market and conquer the world?
5
  • 1. No clear market potential.
  • 2. Limited market potential.
  • 3. Reasonable market and growth potential.
  • 4. Solid market and growth potential.
  • 5. Exceptional market and growth potential.
Business Evaluation - Competition:
Does the project have competition? How strong does it look relative to its competition?
5
  • 1. Awful position competing with many strong players.
  • 2. Weak position facing strong competition.
  • 3. Reasonable position facing strong competition.
  • 4. Solid position facing weak competition.
  • 5. Exceptional position, facing almost no competition.
Business Evaluation - Supply sold:
Does the team distribute a reasonable amount of the tokens so as to encourage create strong incentives and network effects?
4
  • 1. Negligible supply, greedy team.
  • 2. Small supply, poor incentives.
  • 3. Modest supply, weak incentives.
  • 4. Reasonable supply, responsible team.
  • 5. Large supply, solid inventive, committed team.
Business Evaluation - Vesting:
Does the team have a sufficient stake to have aligned incentives? Do they have a vesting schedule implemented?
3
  • 1. Large stake, no vesting.
  • 2. Small stakes, no vesting.
  • 3. Modest stakes, no vesting.
  • 4. Reasonable stakes, modest vesting.
  • 5. Solid stake, healthy vesting.
Hype and media presence:
Is the project present on social media and chats? Is there interest for it?
4
  • 1. No presence, negative image.
  • 2. Modest exposure and no interest.
  • 3. Reasonable exposure and modest interest.
  • 4. Solid exposure and high interest.
  • 5. Exceptional exposure, high interest and considerable hype.
Final Score
4.27

Team

Member
Fabio Cesar Canesin
Co-Founder and Developer
Fabian Wahle
Co-Founder and Developer
Ethan Fast
Co-Founder and Developer
Luciano Engel
Co-Founder and Developer
Thomas Saunders
Co-Founder and Developer
Nathaniel Walpole
Designer
Samuel J. Mansfield
Designer
David Schwartz
Developer
Evgeny Boxer
Developer
Carla F. de Paiva
Marketing and Public Relations
Clare Saunders
Marketing and Communications

Advisors

Da Hongfei
Onchain CEO, NEO Council
Erik Zhang
Onchain CTO, NEO Council

Updates

Title
Published at
NEX ICO template
5 months ago
We are happy to announce our partnership with Red Pulse
3 months ago
Important: beware of scams
3 months ago
A quick good practice guide
2 months ago
NEX Fiat Integrator Template
2 months ago
NEX opens registration for the token sale lotteries
2 months ago
FAQ and walk through
2 months ago
NEX Extension and Lottery Q&A
1 month ago
On building a compliant future and the Smart Economy Expo
1 month ago
Update on Legal and Compliance
2 weeks ago