With many new currencies being introduced to the exchanges and markets almost every day, there are new exchanges fighting for traders. In this TokenTops full article review, we will take a look at a flyp.me ico review project that wants to convince people to use their exchange offering fast transactions and no need for registration.
General Idea
Flyp.Me want to create a cryptocurrency exchange that will allow you to get many popular cryptocurrencies and tokens without the need for registration and giving all your personal information. That works perfectly with the whole crypto world, as the initial idea of these coins was to be able to get and use them anonymously.
Features
They claim to be the “fastest and most private crypto-to-crypto exchange.” The main feature that will make them possibly stand out from other well-known and established exchanges is the fact that they don’t require any registration. Thanks to that policy, you don’t have to trust them with your funds as you own them in your personal wallet; that way, any risk of being frauded by an exchange is heavily minimized.
Working product
The fact that they already have a working exchange that you can check out for yourself before deciding to take part in their ICO acts as a big advantage. This shows that they know what they are doing and are able to develop and deliver the final product. Because of that, you won’t end up being scammed, and the project won’t suddenly fall in case it doesn’t raise all the funds.
As the platform is actually almost ready, why would they need fundraising in that case? Well, the advertised speed of exchange is possible because of them pre-holding some amount of various cryptocurrencies. This way, you can even try it out for yourself that when it comes to small amounts, you are able to exchange one currency for another other almost instantly, with the only possible delays being caused by the mining and transaction speed of the cryptocurrency itself.
Extending these reserves will make it possible to exchange quickly even the biggest sums. That way you don’t lose on the constantly changing price fluctuations, and you always get it at a price visible when clicking the button.
Profit distribution
Flyp.Me besides being just an exchange platform, it offers a lot of additional features and profit possibilities to the holders of their FYP token. They want to distribute 50% of their profits to the holders based on the number of tokens one holds. The developers of the project believe in the decentralization idea we all have been told about when blockchain technology and the first cryptocurrencies were introduced. Nowadays, many fields, with exchanges, in that case, are controlled by a few big companies. By sharing the revenue, they want to rebalance the power and level between an investor and an exchange.
The payout of profits will be distributed every three months. It is by default set to be paid in ETH, but one can request it to be in another cryptocurrency.
Votings by holders
To make the project even more decentralized and, in fact, owned by the people, it will be possible for a token holder to propose their own ideas and possible features for the platform. Then there will be voting among other token holders. Even when it comes to the most important and key decisions, the holders of a significant amount of FYP will be able to participate in making them. Therefore if you buy the token, you can feel that you are part of the FlypMe community and you are indeed an important part of developing the project further.
FYP Token
The token is Ethereum based on the ERC-20 standard, meaning you can hold it with most Ethereum wallets and store it with your other tokens. Every token, even the smallest part of it, allows you to get a percentage of the exchange profit and take part in voting. The amount and the power will, of course, be set accordingly to the amount you hold.
In order to popularize their own token, a portion of FYP Tokens owned by the team will be distributed to active and daily users of the exchange. That way, the token will spread faster and easier. It will be based on the volume of the cryptocurrency transacted by the user, apart from obviously being tradeable at the Flyp.Me exchange, they will be available on other popular as well.
ICO phase
There have already been some successful presale phases, with the main Initial Coin Offering starting on the 28th of September and finishing on the 21st of October. There is also set an unknown “hidden cap” of the satisfactory amount of money they wish to raise, which will end the ICO phase earlier in case it’s reached. What makes this Coin Offering interesting is the fact that they accept donations in a lot of various cryptocurrencies, even the smaller ones like DOGE or GAME.
This way, it makes it easier for literally everyone to take part in this ICO. It’s not reserved only for rich Bitcoin or Ethereum investors, and the low price of tokens assures everyone can get a grasp of a considerable amount of FYP tokens, as the exchange rate, for now, is set at 1 ETH being around 4000 FYP. The earlier you buy, the higher bonus you can expect.
The team
Flyp.me is, in a way, part of the HolyTransaction wallet. Therefore they share team members. They were one of the first to support Ethereum and become a multi-currency wallet and are the oldest still active. This is real proof of their experience and skills and shows that they have already delivered successful projects in the past and are ready to do it again. They are solid, with, most importantly, knowledge about blockchain and needed programming and developing skills.
Final thoughts
First of all, they seem like a safe bet because of having the exchange already ready and working. That way, they can only develop and improve from now on, and there are few surprises or obstacles to expect. The exchange business is a tough one, and there are other big and popular players; however, not many of them can offer anonymity and almost instant trades without any registration.
When it comes to potential profit, the fact that they are sharing 50% of their profits among token holders is enough to consider it possible to be a nice passive income as there is a lot of money to be exchanged with the cryptocurrency market becoming only bigger and bigger.
