Senin, 23 April 2018

QURREX is the First Crypto Hybrid Exchange at the moment



What is Qurrex ?

Qurrex, initiated in November 2016, has integrated industrial-grade infrastructure of traditional stock exchanges with a decentralized blockchain network. The team behind Qurrex includes seasoned professionals with expertise in investment banking, stock exchange infrastructure development, and business development. Netherlands-based CEO Matthijs Johan Lek leads it. Matthijs Johan Lek has had over twenty years of experience in finance and investment banking and leading financial institutions. His team includes knowledgeable traders and consultants with significant roles in the cryptocurrency community as well as accomplished architects and experts of traditional stock exchanges from various countries.

Qurrex is designed to meet the dramatic appreciation challenges of cryptocurrency resulting in increased demand from brokers and institutional investors. The platform offers new decentralized solutions to provide high performing and secure trading that will leverage the accumulated knowledge of traditional exchange and blockchain platforms. Although the new trading terminal is currently being prepared for service and undergoing renewal and expansion of its function, the broader public will be able to familiarize itself with the trading terminal and test it in March 2018.
Qurrex’s new generation platform integrates the industrial centralized infrastructure of traditional stock exchanges (CEX*) like NASDAQ, NYSE, LSE with a decentralized blockchain-based exchange (DEX*). The platform will substantially increase the market’s liquidity and set a new standard for crypto-exchange products. Its reliability, security and speed are game changers for the crypto industry and professional traders alike.

QDEX Issue

There are currently a number of projects to set up decentralized cryptocurrency exchanges, some of which have been launched and some are still under development. Initially this can be divided into projects that have a set of token destinations between blockchain, such as Bitshare, Waves DEX, nvo.io or exchange protocols in one network such as EtherDelta, OasisDex, Ox, Bancor and others.

All of these projects are trying to overcome the following challenges:
  • Safe deposit of funds or cryptoassets
  • Central connection or intermediary vulnerability
  • Counter-counter searches are interested in bidding
  • Full operational transparency
  • Cross exchanges eg Bitcoin for Monero
  • Volume of supply or demand with the same requirements for all market participants.

Each project is capable in one way or another to be able to resolve the issues indicated but the new ones appear in their place as follows:
  • Speed ​​Issues: The speed of execution operations in various projects may depend on the speed of the blockchain network and at the speed of matching incoming orders or confirmation of agreement by a second party.
  • Liquidity Problems: A strong interest in DEX, liquidity in these products is still very low.
  • Warranty Issues: If execution is required quickly, participants are required to guarantee assurance of the transaction and as in Bancor and Kyber projects some of the funds are frozen and access is granted to third parties.
  • Matching Algorithm Problems: If a direct transaction occurs through a message, significant time is required to complete the transaction. With automated systems, delays occur in the process of reaching consensus on price options.
  • Automatic Operation Issues as a link there is no API or protocol for connecting algorithmic systems.

Hybrid architecture

Synergy of :
  • Blockchain technology - ensures secure storage, eliminates intermediary and provides aggregated liquidity from all network nodes, including the centralized node.
  • Centralized node - centralized exhange (CEX) with performance comparable to modern, cutting edge stock exchanges.

The featured functions of the hybrid exchange :
  • Formation of an aggregated order book based on quotes collected from all the system’s nodes (both the centralized and decentralized nodes);
  • dissemination of the aggregated order book to the blockchain nodes;
  • Choice of the blockchain nodes with the best instrument prices/quotes to place the order submitted by a client (if the order is not marketable, it is entered in the order book of the original system node);
  • Sending the order to the selected system node (for marketable order);
  • Entry of information on the order into the blockchain (for queuing order);
  • Receipt of execution confirmation.

Best Execution Logic :

Each node of the hybrid exchange provides the Best Execution service to the user. Broker companies operating in countries with a developed financial market are obliged to provide the Best Execution service. In Qurrex this service is implemented by a special module Smart Order Router, which is part of all the blockchain nodes, incluing the centralized (CEX) node.


Qurrex DEX blockchain is built of two types of nodes: confirming nodes and user nodes. The DEX protocol allows confirming nodes to charge other nodes a commission for the deals and transactions. The commission is charged in the deals's (transaction's) cryptocurrency.

There is a special kind of trading orders: DEX Cross-Chain cross-platform atomic orders (transactions). Cross-platform orders are charged just once, when being placed on decentralized nodes. Such orders are included in blocks as DEX transactions, while the confirming nodes charge their commission.

Qurrex founds special cryptocurrencies (qBTC, qETH). A trader can exchange these cryptocurrencies through DEX and his trades are to be charged for the deals theirselves, not for separate blockchain transactions.


QDEX Schema



QDEX Software

Software for network operation will include

Master node software that contains :
  • Software for network access between nearest network nodes
  • Software for the operation of the blockchain network
  • Software for choosing the best execution path

Liquidity pool node software that contains :
  • Matching of internal pool for storing and sharing customer requests
  • Multicurrency wallet for storing the necessary amount of coins and receiving fees
  • Order router for sending orders to another network node and receiving external requests
  • API - connection protocol for encoding an inner order book

Client node software which contains :
  • Trading platform
  • Multicurrency wallet

QDEX Networks Members
  • Master node is a node that maintains the network by generating blocks and carrying out in-chain transactions. The number of transactions is directly limited by the required network performance and the current level of development of the QDEX network. These nodes do not have their own pool of liquidity and area engaged in servicing the liqiudity pool node and routing client requests.
  • Liqiudity pool node is a network node that supplies QDEX network with quotes. Their number is limited only by the current level of development. At its core, each node is a mini exchange with its OrderBook, Matching, OrderRouter, QuoteAPI modules.
  • Client node is a software for a mobile phone or a computer interacting with the QDEX network.


TOKEN SALE
  • Token symbol: QRX
  • Token standard: ERC20
  • Token type: utility
  • Total token supply: 70m
  • Total token for sale: 55m
  • Total token for pre-sale: 17m
  • Country of incorporation - Cayman Islands

Token Structure

Token Distribution


Crowdsale Funds Distribution



Roadmap



Team Leaders

Matthijs Johan Lek
Founder and CEO

Mathijs Johan has worked in finance for 20 years, including investment banking, brokerage, and business development.Under his lead there is a team of traders and advisors with wide experience on FX market, development of trading strategies, algorithms, trading robots. Over the recent years, the team has been actively trading on the cryptocurrency market.

Slava Baikalov
Chief Operating Officer and Co-Founder

Slava for 10+ years specializes in corporate finance, investment banking, investment analysis, M&A and fundraising. Few years ago he became the crypto-enthusiast and cryptotrader

Konstantin Sviridenko
Chief Business Development Officer, Chairman of Qurrex's Supervisory Board

Konstantin and his team have a proven track record in development of trading & clearing systems and creation of financial instruments at stock and derivatives exchanges across Eastern Europe(RTS,St. Petersburg Stock Exchange,Investment System Voskhod,Ukrainian Exchange). Qurrex will hire Konstantin as a consultanton creating the platform and building all operational, IT and business processes from scratch.

Andrey Sitaev
CTO

Andrey’s team comprises 17 frontend and backend developers with a remarkable software development background.Andrey and his team focus on .NET framework and have been successfully implementing margin trading algorithms since 2008. Andrey has led development of a Forex analytical / trading platform TradeSharp.

Alexander Bobryshev
Product Manager

Has experience in design and development of high-loaded systems, embeddable and server solutions, antivirus software, information security systems. Also participated in development more than 50 projects, including: payment service transport system ASK-PAY, antivirus software (Kaspersky Security Scanner, Kaspersky Antivirus, Kaspersky Internet Security, Kaspersky Update Utility), components of transport monitoring system (TOne-Suite), biometric identification system (Hitachi H-1), economic news service (PRIME).

Vladimir Tsarkov
IT Project Manager

Vladimir has been working in different IT fields for more than 15 years, including SW development and management, extremely high loaded products development, releasing and supporting for Telcos and MNOs: IBM, HP, AT&T, Swisscom, Vodafone, Telefonica, Orange, SFR, China Mobile, Aricent, Hitachi, Fujitsu, NEC, Singtel, Axiata and others. In meantime, he was in time to acquire two IT patents in network and business optimization technologies. Mature experience in development processes building and execution does allow to organize steady product movement.

Ivan Serikov
Back Office Architect

Ivan has over 10 yrs experience as solution architect and team leader in implementation of CRM systems at large scale companies of different industries (from financial institutions to airplane companies). He focuses on automation of business processes based on Oracle products stack (Siebel CRM, BI). Ivan also participated in Big Data projects for large-scale airline company.

Evgeny Shirokonosov
Lead Developer

Eight years of technical development expertise. He has experience in the development of antivirus software, medical simulators, highly loaded systems. Previously with Kaspersky Lab, NeuroX, TOne and Eidos. His expertise includes C++, .NET and Java.

Ismet Khayali
Lead Developer

Eight years’ of technical development expertise. He worked as an engineer at Kaspersky Lab, TOne Group. He has deep knowledge and experience in entertainment technical development. His expertise includes full Microsoft Technology Stack.

Oleksandr Dubyna
R&D Team Lead

Lead Engineer with more than 10 years experience in IT, has more than 30 successful projects. Working experience in largest international and state companies, like Accenture, MotorSich, Pacific Northwest Software and others gathered the expertise in systems architecture, analytics and optimization inventions.

Maksim Rodionov
Lead Developer

A web programmer with extensive experience developing a variety of systems. I managed to work in large Russian holdings such as: Mail.ru, Rambler&Co and in other lesser known holdings. Also in large media: RBTH and RG. Maxim is mainly engaged in the development of high-load projects and microservices. In his work he uses golang, Node.js and all the possibilities of a javascript ecosystem.

Karine Gabrielyan
Head of Sales

Karine Gabrielyan has been working in the financial sector since 2005 and started her career at the RTS Stock Exchange where she was responsible for the derivatives market development. In 2012 she moved from the exchange which at the time after the merge had become the Moscow Exchange, to one of the top Russian brokers where she was responsible for the brokerage business development as well as cooperation with the exchanges the broker was connected to.

Markel Baykalov
Director of Corporate Development and New Projects

Markel holds a Master of Laws degree and has over 9 years experience in the field of law and corporate management and development. Since December 2015 he had leaded the corporate office and had been responsible for start up of new projects in RTS companies group (stock market, clearing company, bank) in the capacity of Corporate Development and New Projects Director. In December 2017 he joined the Qurrex team as the Corporate Management Director. Markel is deeply specialized in the field of exchange markets, credit organizations, financial institutions, P2P and B2P services operation. During his professional career in the field of corporate management and development he supported a series of M&A and IPO deals, which cost exceeded $7 billion. During his work in Moscow Exchange and RTS companies groups Markel provided legal support of new financial (exchange traded) products and new projects (Voskhod Investment System and CryptoVoskhod) start ups.

Kirill Gotovtsev
CMO

The oldest professional of advertizing in Russian Internet For 25 years Kirill is engaged in communications of hundreds companies. His clients list includes not only high-technology financial startups but also large conservative projects. Last two years Kirill consult more than 6 cryptoprojects. He is a head of department of marketing in Qurrex.

Yury Panov
Head of Marketing Strategy

Yury is a head of strategy planning in BBDO Russia Group (CIS representative office of the world's biggest and most awarded advertising agency). He has been working in branding and advertising industry since 2007. During this time he developed effective strategies for leading russian brands in FMCG (PepsiCo, Mars), telecom (Veon, MTS), retail (IKEA, X5 Retail Group), finance (VTB, Soglasie) and other categories. Yury is a lecturer and jury member in the Wordshop Academy - the world's best advertising school (in 2017) and member of the Russian EFFIE jury.


Advisors & Partners

Dmitry Lavrov
Asset Manager

Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years trading experience. The main covered markets are Forex, Commodity, Cryptocurrency. Provides personal education for those who are interested in profitable trading. Entries in TOP 10 among TradingView authors.

Jose Luis Coirolo
Trading Services Advisor

José Luis Coirolo is the Founder and President at Sapient Venture Partners, an advisory services firm with deep domain expertise across multiple layers of the technology stack, from trading applications and platforms, core infrastructure in Market Data Services, Data Management, and Order Execution. Previously, Mr. Coirolo was the Managing Director at NYSE Euronext and InterContinental Exchange responsible for overall Data Management Services (DMS) business strategy and Advisory Services within NYSE Euronext's Global Market Data function. Prior to that, he was the Head of Market Data Services at Caxton Associates LLC and previously with Donaldson, Lufkin & Jenrette.

Stas Oskin
Blockchain Advisor

Stas Oskin leads the technology strategy and partnerships effort for the WINGS Foundation, a Swiss non-profit focused on decentralized finance and governance systems. Stas has over 15 years of extensive experience in engineering, development and management of software, cloud services, healthcare, video streaming, blockchain, and social products and services. Stas describes himself as an entrepreneur, Crypto enthusiast and a Life hacker

Wilhelm Beller
Institutional Relationship Advisor

Wilhelm has two decades of experience in finance, holding various executive positions in London, Frankfurt and Moscow. He has been heading departments for both equity and derivatives trading for major investment banks including names like Citigroup, Unicredit, and Sberbank CIB. His geographic trading focus has been emerging economies such as, Middle East, Africa, CEE countries and previously Western Europe. Since leaving the investment banking world has he gotten very actively involved in crypto currency markets, running managed accounts and providing ICO advisory to clients and corporations.


Partners




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