InfinityBit Exchange is revolutionizing the landscape of centralized exchanges (CEX) with a unique offering of complete on-chain verifiable trade executions, deposits, and withdrawals. The CEX intends to offer the transparency of a decentralized exchange (DEX) while providing the benefits of fiat on-ramps. InfinityBit.io is also the first CEX to feature on-chain verifiable trade executions, deposits, and withdrawals, which allows for anyone to audit the exchange at any time. The exchange is based in Palau, Canada, and Italy, and its developers are spread around the world. In this article, we will discuss how Infinitybit is revolutionizing the CEX landscape with Ethereum Blockchain.
IBIT Token Whitepaper
The IBIT Token Whitepaper explains the underlying smart contract of the IBIT token. IBIT Token (IBIT) does not offer ownership of the Infinitybit Exchange. Instead, it acts as a token that will enable reduced fees and other benefits on the exchange. IBIT will be initialized with a mint of 10,000,000,000 and a hard-coded maximum supply of 10,000,000,000. The smart contract does not allow for additional coin minting.
Tokenomics
The IBIT Token supply comprises 10,000,000,000 tokens. 43% of the total supply will be burned, reducing the total supply to 5,700,000,000 IBIT. The initial liquidity pool (LP) will be 20%, which is 2,000,000,000 IBIT tokens paired with all of the ETH from the private sale. The smart contract has a built-in “Anti-Snipe” function that locks the IBIT tokens of any wallet address which purchases the token before 30 blocks have passed since the deployment. An additional 10% of the supply will be reserved for future CEX liquidity, including listing on the InfinityBit exchange. Finally, 2% of the supply will be reserved for partnerships with marketing firms and influencers. The wallet size limit will be a maximum of 125,000,000 IBIT, which is approximately 2.2% of the total post-burn supply.
Token Taxes
IBIT Token has taxes on transfers, DEX buys, and DEX sells. These taxes will be used for the development and marketing of the InfinityBit Token and the InfinityBit exchange. The taxes are adjustable in the smart contract, but the maximum total tax allowed is 5%. The development tax wallet is 0x9d0D8E5e651Ab7d54Af5B0F655b3978504E67E0C, while the PR & Marketing tax wallet is 0xA6e18D5F6b20dFA84d7d245bb656561f1f9aff69.
Token Utility
InfinityBit Exchange is developing an AI-powered automated trading system capable of executing automated trades of Crypto currency pairs. The system will be designed to execute trades based on customizable AI-enhanced signals set by the user. IBIT token will provide access to the usage of this system. IBIT token will also be accepted on the InfinityBit Exchange for reduced trade execution fees. Maker and taker fees will be reduced by 50% when paid using IBIT tokens, which can significantly reduce the fees paid when trading on the exchange.
Revolutionizing the CEX Landscape with Ethereum Blockchain
The InfinityBit Exchange intends to provide a transparent CEX platform with complete on-chain verifiable trade executions, deposits, and withdrawals. The exchange’s unique offering will help address the transparency concerns of current CEX platforms. The smart contract has a built-in “Anti-Snipe” function, which will help prevent price manipulation.
