Review QeneteX: Non-custodial solutions, Like a bank, but crypto App !
In blockchain, decentralization refers to the transfer of control and decision-making from a centralized entity to a distributed network. Decentralized networks attempt to reduce the level of trust participants have to place in each other and prevent their ability to exercise power or control over each other in ways that degrade the network’s functionality. In the traditional financial world, when people want to change any currency, they usually use banking applications or currency exchanges. Furthermore, they can only choose from a handful of widely accessible and usable currencies. The crypto world is completely different and diverse. And the number of blockchains and tokens is constantly increasing because more companies want to reach the global market through this new technology. And in this article, I would like to introduce to you the Qenetex platform, which is designed to help connect blockchains, services, and tokens together to simplify their management and operation.
Qenetex is an innovative platform based on decentralized technology and designed to serve as a bridge between digital assets and financial services. It allows users to securely store their funds in an unattended wallet, easily exchange them with the help of the Exchange Search Engine, and save on commissions through its built-in features. Currently, the Qenetex team is working to expand the platform and create an entire ecosystem of different services, including a Buy/Sell feature, MultiTrade, Launchpool, aggregate DeFi and NFT services, as well as full, unified banking functionality in a simple and intuitive interface.
- Buy/Sell crypto
- Early LP Farming
- Yield Farming
- External Integrations
- Exchange Search Engine
- Launchpool SDK
Qenex works with a connection of more than 100 exchanges and providers from around the world, both decentralized and centralized. Within 2 seconds, the engine exchanges big data from all over the market and searches for routes to find the best prices worldwide. Users do not need to open an account, go through the verification process, and take the time to understand how the system works since the exchange mechanism works automatically. It’s similar to booking but is designed for the crypto financial markets, so you always know what’s happening around the world.
One interesting thing I see when Qenex helps solve this is the high trading commission. We have seen bitcoin transaction fees that can go up to 50 or even 100 dollars for each payment. But as far as I know, Qenetex allows users to create multiple transactions where they can add as many recipients as they want to a block and pay the commission only once. With Qenetex, a company can easily, with just a few clicks, add dozens of recipients and pay the full amount as a one-time commission payment, thus saving a lot of money. many transaction fees.
I see that they are combining most of their important services into one solution, creating a payment gateway. Thus, any app, store, or website that sells something (e.g. hosting, music, clothing, tickets, real estate, or something else) can create an account. On the Qenetex platform, you can take a small piece of engineering code, instantly integrate it, and sell goods or receive payments directly from customers. In addition, all cryptocurrencies can be exchanged for fiat using the Qenetex ecosystem. Qenetex platform is designed so that all users have full access to their funds. You do not need to trust anyone, and no one can know your balance or the number of transactions you make. Our platform provides solutions for the private storage of funds. Security is guaranteed by a personal signature generated and encrypted on the owner’s device. An encrypted private key is generated on the device, and no one has access except the owner.
The Qenetex token (QEX) is a foundation of the Qenetex project that has a wide use within its ecosystem. It has a utility type, which is confirmed by several characteristics presented below. The total number of the Qenetex tokens is limited. There will be no more than 3000000000 tokens during all this time. The initial distribution of the Qenetex token has the following structure:
Internal unit of account: QEX serves as an internal account unit in many services presented on the Qenetex platform. Furthermore, the token circulates within the Qenetex ecosystem without going beyond its boundaries. Thus, the entire flow of incoming tokens from the purchase of services and subscriptions and the payment of service commissions is sent to the Qenetex Pool and then further distributed to maintain the Qenetex ecosystem. All funds from the pool are returned to platform users through various loyalty and promotional programs that encourage users to actively use the platform’s functionality and support the stability and uninterrupted operation of the ecosystem and its components. No part of the pool is directed outside the Qenetex ecosystem.
Loyalty and reward programs: QEX is an accounting unit for the discounts and rewards programs, including Cashback, Farming, and Loyalty Programs. Utilizing tokens as units of account is a more beneficial and profitable way of using the platform functionality. Token holders can access services without paying fees to providers and Qenetex, receiving levels in the Qenetex Loyalty Program. Furthermore, users who contribute to the support and development of the ecosystem can participate in reward programs and receive additional payments (Cashback Provision, GTx Cashback, and Yield Farming).
The use of the token within the system is designed to be as convenient as possible for users. There is a gasless option available in addition to the standard gas payment for calling a smart contract with a network coin (BNB). With the former, a user is not required to hold BNB as the gas costs are offset by additionally charged QEX.
Independence from secondary market conditions: The placement of a token in the secondary market by any participants does not affect its functional characteristics within the ecosystem, as the token value is provided by the internal operational activities of the platform users. At the same time, the Qenetex token does not have qualities that allow it to directly or indirectly influence its value, growth, inflation, and other economic parameters on the secondary market. The token has a fixed issue and does not imply intentional withdrawal from circulation, burning, or vice versa — an additional issuance.
Voting system: The Qenetex token allows its holders to vote on proposals and initiatives, serving as a unit of the vote’s weight. The voting system is a crucial part of the Qenetex ecosystem that allows our team to receive feedback from the most involved users of the platform. The system is discussed in more detail in the next section.
Governance/Voting: QEX holders get the opportunity to participate in the Qenetex voting system. It allows users to discuss those changes and improvements that can be implemented in the following updates of the platform. Community members can vote for:
● Adding new exchanges, exchangers, and decentralized pools;
● Adding pairs of coins and tokens, including those supported by the ESE system;
● Rating of the integrated services and tokens mentioned above, including the possibility of reporting unscrupulous exchangers or liquidity providers with the possibility of their exclusion from the project;
● Changes in the percentage of commissions and operating transactions for buyback from
Only users who are holders of the Qenetex token can partake in the voting. Moreover, the weight of each user’s vote is proportional to the number of tokens held. No tokens are spent during the voting process. Voting participants cannot make decisions regarding the technical part of the project, economic and legal issues, and changes in the company’s management team. All voting is advisory for Qenetex. Therefore, the decision on (non-)implementation of the new functionality and other initiatives remains with the company while voting serves primarily to receive feedback from users. Despite this, the Qenetex team will pay attention to all supported initiatives highlighted within this voting system.
Development of the Qenetex ecosystem is a step-by-step process. The team plans to develop and add features in the following order:
The Qenetex platform is an innovative platform in the crypto space that I am approaching. By leveraging blockchain technology to solve ongoing problems, I think they will gain a lot of support from everyone. people in the crypto space. This platform, in addition to improving the user experience, allows users to securely store their coins in an unattended wallet, easily exchange them with the help of the Exchange Search Engine, and save money. Save commissions through built-in features. And the Qenetex team is working to expand the platform and create an entire ecosystem of different services, which I see as ensuring efficiency and good results for their future.
Youtube : https://m.youtube.com/channel/UCl6pPa4KCqGxi8UZ6r1SMQQ/about
Bitcointalk Username: Nitronas Lysandra
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2769269
Qenetex Wallet Address: 0xf565B99fB1916fE4998DBaaE048bBc39088A34dE