With over $3 million traded in 24 hours after the listing of CENNZ, ‘ETH for Less’ is preparing to take SingularX to a whole new level…
Since launching in November, Tokit and SingularX — the first modules of SingularDTV’s global, decentralized entertainment economy — have grown organically into important pillars of the blockchain ecosystem. With more intrepid creators from all over the world tokenizing their work on Tokit every day, now it’s time for SingularX — the decentralized exchange created by Centrality and SingularDTV — to burst to life in a flurry of volume activity and trader excitement.
The development is a result of a two-fold initiative. Firstly, SingularX will be offering ETH trading pairs at a 10% discount rate to market as part of the ‘ETH for Less’ awareness campgain. Kicking off from March 2–4, the ETH for Less initiative will dovetail with the listing of the CENNZ token, the digital currency created by the wildly successful token generation event held by Centrality that raised approximately $265 million USD. The New Zealand-based blockchain venture studio not only took part in building SingularX, but has emerged as global leader in blockchain with its own ecosystem of interacting apps and projects.
“Our collaboration with Centrality to build SingularX has now enabled the first listing destination for the awaited CENZZ token,” says SingularDTV co-Founder & CFO Arie-Levy Cohen “The most recent trading spike has benefited from the “ETH for Less” program, which will provide those looking to purchase ETH, and more, with the opportunity to learn how to use SingularX. The CENNZ listing on SingularX underscores the market’s need for a truly decentralized exchange and we are very proud to see functionality meeting supply and demand market forces.”
The result of the listing of the CENNZ token has produced greater than a 1000% increase in trading volume on SingularX this week alone. “The growth in volume on SingularX this week has been remarkable. Trades of the CENNZ token have peaked well past $3 million in the past 24 hours alone, and we expect more growth,” says SingularX Product Manager Ruben Carrion. “With ETH for Less, our intention is to familiarize new users to the benefits of decentralized exchanges, while giving back to the community for all the support they’ve given us.”
Although the fervor around the ETH for Less campaign is an exciting development, by no means does it blur the long-term vision for SingularDTV. Levy-Cohen explains, “SingularDTV is working to lay the foundation for a decentralized ecosystem, and SingularX provides a platform for all SingularDTV Content Creators with a destination for their IP and value to participate in a Decentralized environment. Artists and creators can see their tokens on SingularX as a support function to their tokenized ecosystems, while crypto-enthusiasts will be able to exchange ETH, ERC-20 tokens, and the tokens of their favorite artists on the platform.”
The paired initiatives also present an opportunity for learning how to perfect SingularX’s functionality and user experience as it grows to become a formidable force amongst decentralized exchanges. “We look forward to leveraging the enthusiasm and ideas of our active trading community,” say G. Thomas Esmay, Director of Business Development at SingularDTV. “During this promotional period, we’re looking to receiving any and all feedback from our community. Together, we can build the best decentralized exchange and shape the future of crypto trading”
SingularX is one of the first of several collaborative endeavors between SingularDTV and Centrality. Blockeeper and PayCheck, two digital currency accounting applications, are primed for market release in 2018, and will streamline tokenized accounting processes for all SingularDTV participants. Until then, SingularX’s Eth for Less initiative begins May 2nd! Get involved at SingularX.com!