Hello. Thanks for being a part of our family. We really appreciate your suggestions.
Our Initial Plan
The initial plan of Bitindia was to build an exchange solely for the Indian users to help them trade in the easiest way. Due to the regulations by the RBI and the negative response over cryptocurrencies from the Indian government we had to shift our plans and moved to an international jurisdiction and operate worldwide.
Making the exchange purely decentralized was a hard decision to make as it involved a lot of pros and cons. Even rebranding was a tough decision. In the recent past, we all have noticed the increasing number of hacks in exchanges as well as manipulation of funds by the exchanges. We believe that blockchain was made to be decentralized which is the true feature of blockchain.
Why not Hybrid Exchange?
We could have build an exchange that was a hybrid and not purely decentralized but that still couldn't resolve such issues. We have really considered every token holder a family member and Our sole aim is to increase the value of the tokens and at the same time increase the audience of the exchange. We understand that being a decentralized exchange, it would be very difficult for us to gather people to trade we we are planning the best marketing methods as well as our techinical team is doing severe research and analysis of how we can adopt new technologies such as atomic swap and lightning network in the upcoming future.
BDT Token Listing
Also we are now going to list the new BDT tokens on major exchanges worldwide. Apart from this we will surely consider your opinion on the value to be kept for new BDT tokens (INCREASED) and we shall make an announcement for the same in a short duration. With a number of tokens burning each day, it will lead to a scarcity of the tokens which may eventually increase the token price. Apart from this our intial plan was to distribute 10% of the transaction fee to the community and now what you need to understand is that it has changed to 100% of it distributed to the community as all the ethereum collected as transaction fee would be used to automatically buy back BDT tokens from the token holders (The buy back price will always be more than the market price at the time of buy back, which would also eventually increase the price of the tokens) and the BDT Tokens used for the transaction fee would automatically be burnt which will also increase the scarcity. We really thank our community members to be cooperative and giving blockonix the same love which we got for Bitindia.
We really wish to take Blockonix to huge heights and make it the best decentralized exchange which is purely contract based and hack proof.