What is TychExchange
TychExchange system will have Crypto Index and Futures and Options to trade. Index will comprise from price of main cryptos like any index in stock market such as Dow Jones Nifty Nikkei. They comprise of selected stocks with a particular weightage in the index and according to their weightage and price movement index performs. TychExchange will have same kind of crypto index comprising of best of them to create INCRIDEX and will maintain the Index. TychExchange is going to implement an automated clearing and settlement through the blockchain. That attains two objectives at the same time: being fast and being compliance and risk management compatible at the same time.
BlockchainNeXT OÜ is a company registered in Estonia, Europe. The company owns and is in process of developing Tyche Ecosystem. Tyche Ecosystem would encompass the realm of crypto to real world economy where goods and/or services would be bought and sold, contracts made and executed, organizations established and run, bookkeeping and accounting and audit and many other real-world possibilities through the ecosystem.
the need for several interconnected blockchains was felt and with each step of progression they are being created and integrated into the whole ecosystem. To implement this system one blockchain is not enough as it requires different roles for each system. Consequently, the need for several interconnected blockchains was felt and with each step of progression they are being created and integrated into the whole ecosystem. Further to it BlockchainNeXT envisages to connect existing frontline blockchains Bitcoin, Ethereum and Monero to the BlockchainNeXT itself for seamless cross chain transaction without delays and without redundancy.
The first step was to create the system at the top and BlockchainNeXT was incorporated and first tokenized stake of the system was created and was named as TycheCoin.
TycheCoin is an ERC20 Token with total supply 1.0 billion. It is based on Ethereum smart contracts. TycheCoin is the stake part of the whole system and will derive its value from market demand as well as the worth of the ecosystem we are creating at BlockchainNeXT.
Initial investment of TycheCoin was made through angel investment through a one on one basis. Later, holders of TycheCash (described below) were given option to convert their TycheCash to TycheCoin with a ratio of 50 million TycheCash to 11110 TycheCoin (4500:1). Some of the TycheCoin were also issued through private placement in a ratio of 11110 TycheCoin for 1 ETH. Till now approx. 28 million TycheCoin have been distributed through angel investment/ conversion of TycheCash/ ETH. TycheCoin would have finite supply of 1 billion.
To smoothly run a business, we need a product like banks have several products viz. loan, credit limit accounts which are have one common product which is their respective FIAT currency. Similarly, to run an ecosystem we need a product which would act as a means or tool for transactions in digital world and would interconnect with the real-world economy. That Product is TycheCash with a total supply of 80 billion mineable coins. TycheCash is based on original cryptonight algorithm.
It is decentralized, meaning no one has control over it and it would remain untraceable as long as it is in hands of an individual as in the case of cash in real world. But when a holder brings the cash to a bank or withdraws cash from bank his identity is revealed to the banks and consequently available to regulators.
Furthermore, it is true that every bank must have a certain percentage of its total deposit as liquid cash which is mandatory through regulations of central banks of their respective country. Replicating the same our ecosystem intends to collect approx. 12 to 20 billion TycheCash (of which about 6 billion has already been collected through conversion of TycheCash to TycheCoin). Our intention is to reach our target by buying from market or collect the same in form of fee for listing other coins on TychExchange (described below). Once we reach the targeted reserve amount of TycheCash it would be deposited in a separate wallet and its public view key would be available to all to verify the same. This reserve would act as a dampener if there are wild fluctuation in the price of TycheCash in future providing stability to the price of TycheCash. If the price falls too much, the ecosystem would buy more to arrest the fall or if the price skyrockets due to speculation the ecosystem would release TycheCash in the market to arrest the fluctuation.
This aspect is unique in the crypto world where the coin prices are left to speculators and in those traumatic fluctuation many people lose their fortune. In our system one would be assured of absence of such speculative fluctuation and holder of TycheCash would be assured of gradual price appreciation of the TycheCash.
Marketplace for real goods with both FIAT and Crypto as payment option. It is not as simple as that; more details will be revealed later on.
Our prepaid card arriving late 2019 allows you to spend your coins around the world. With the prepaid card you save the exchange fees and they become much cheaper with encrypted coins. TycheCard allows you to spend encrypted credits with instant liquidity. This happens due to our integration with our platform of TychExchange and methods of electronic payments.
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