CEDEX Token Pre-Sale – Transforming Diamonds into a Tradeable Assetby Company Announcement March 15, 2018
After successfully raising $20 million in their private-sale stage, CEDEX is making CEDEX Coin available to the general public with a token pre-sale beginning on Friday March 16th at 10:00 GMT. Register here!
CEDEX is the world’s first certified blockchain based diamond exchange. Its aim is to bridge the gap between the traditional diamond industry and modern financial markets, transforming diamonds into a publicly tradeable asset.
The diamond market has an annual turnover of around $80 billion. Compared with gold and silver, diamonds have historically been even more stable, making them a desirable option for investors who want to hedge against the stock market and inflation.
However, the modern diamond market is incredibly closed off and outdated. Due to a lack of fungibility, diamond pricing doesn’t have the necessary standardization to make them a good investment for the average person. Without significant knowledge of diamonds and the diamond business, somebody who wants to resell a diamond will lose anywhere between 30 and 50 percent of the fair market value of their stone.
Unfortunately, lack of standardization isn’t the only major problem in the diamond business. There’s also a lack of transparency in diamond pricing and transactions. And, as you might expect, the lack of standardization and transparency additionally lead to a lack of liquidity in the market.
Those problems are considerable. At the same time, though, they represent the massive potential for growth in the diamond market as technological solutions eradicate the problems that have been plaguing it for decades.
CEDEX is leading the way in modernizing the diamond market and unlocking that potential.
A proprietary machine learning algorithm – the DEX – solves the lack of standardization issue that comes from diamonds not having fungibility. It uses gemological data to evaluate individual diamonds with coherency and transparency, achieving a pricing accuracy rate of over 99.55%. The DEX will replace human diamond appraisers, making it easier and far less costly for people around the world to have their diamond holdings evaluated.
After diamonds have been priced, they can then be listed on CEDEX’s blockchain based exchange. There, it will be possible to buy and sell diamonds peer-to-peer, drastically reducing the cost of traditional middleman services. Transactions on the exchange will all occur with CEDEX Coin, giving them the trustless feature enabled by smart contracts.
CEDEX Coin’s utility will goes far beyond just buying and selling diamonds. It will also include:
- Exclusive access to supplementary services such as gemological labs that authenticate and grade diamond assets, transportation, insurance, and custodial services.
- Access to loans (in CEDEX Coins) through diamond investment portfolios
- Transparent payment for diamond sales
- Ability to cover borrowing and collateral fees by opening a short position through the CEDEX platform
Token Pre-Sale Beginning March 16th
Investors who participate in the upcoming token pre-sale will capitalize on the best opportunity to get CEDEX Coins at a low price before the decentralized exchange goes live in Q3 and transforms the diamond market. Participants who buy the first 10% of available tokens will receive a 30% bonus. After that, buyers of the next 40% of available tokens will receive a 15% bonus.
The minimum contribution for the token pre-sale is 1 ETH. There will not be a minimum contribution for the subsequent general token sale.
Disclaimer: this is an article written by CEDEX, Fintechnews does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions related to the company. Fintechnews is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Please note this is no investment advice.