LYOTRADE
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What is LYOTRADE?

What is LYOTRADE?

Introduction

LYOTRADE is a centralized cryptocurrency exchange dedicated to providing a safe and convenient platform for cryptocurrency trading, and being the best aggregator of a qualified cryptocurrency in the world.
Its vision is to spark a revolution in the digital economy, by striving to provide a compliant, secure, efficient, multi-featured, and easy-to-use trading platform that's accessible to anyone, anywhere, and anytime.
Its mission is to offer the best quality service with a wide range of products by providing innovative, secure, & cost-effective solutions for customers, and expand to become a leading global blockchain solutions firm.

There are two characteristics of digital currency exchanges:

  1. 1.
    Centralized Exchange
  2. 2.
    Decentralized Exchange

Centralized vs decentralized

Many think that since digital currencies are decentralized, cryptocurrency exchanges in the crypto space must be decentralized as well. The trading volume on these exchanges only accounts for a marginal portion of the overall volume in the crypto market. A decentralized exchange (DEX) is operating without a supervising body, on an open protocol, with the principle of consensus. Trading takes place on a P2P basis, which eliminates the need for intermediation. The exchange is not responsible for the asset storage, making it less vulnerable for hack attacks and giving users more control over their assets. Fees are usually more favorable for clients, but this benefit is offset by the low liquidity these exchanges can offer.
A centralized exchange is run by a third-party operator who serves as an intermediary in the trades with the aim of connecting market participants. The central governing body ensures the stability of the trading environment, monitors the trades, and manages the order book. Traditional stock exchanges fall under this category as well. Most of the well-known digital currency exchanges are decentralized and this paper focuses on their analysis.

LYOTRADE is a centralized digital currency exchange

LYOTRADE is a centralized digital currency exchange that provides the necessary market infrastructure for investors willing to trade digital assets for only crypto-to-crypto and not fiat currencies. Through the interaction of buyers and sellers, the market price of an asset is established.
The service of the exchanges is not limited to marketplace provision but can cover the entire financial market transaction process chain. This involves pre-trading (data), trading, and post-trading (settlement, custody, collateral) services. Their revenue stream consists mainly of market services (for example transaction fee, data provision), and corporate services.
LYOTRADE exchange guarantees 24/7 customer support, mobile application, efficient Application Programming Interface (API) designed to integrate trading applications such as TradingView.
Other services announced are lending or offering conversion services to merchants who accept payments in cryptocurrencies as well as offer margin trading and short selling features as highlighted in the LYOTRADE roadmap. The earnings are cyclical and are highly dependent on the trading activity. In turbulent times, we believe that our exchange will experience higher trading activities resulting in significantly bigger revenues than usual.

LYOTRADE Wallet

  • The LYOTRADE Wallet is the multi-cryptocurrency payment gateway inside the LYOTRADE ecosystem. It allows users to exchange crypto-to-crypto.
  • Multi-asset compatibility (any blockchain asset compatible with and accepted by the LYOTRADE Wallet).
  • Best available cryptocurrency exchange rate and transaction fees.
  • Decentralized and secured storage.
  • Items are stored on a blockchain-based system.
  • Fraud and scams are prevented.

Platform Specifications

LYOTRADE deployed an easy-to-use, secure and efficient solution for traders as investors. It has lived and delivered the most user-friendly, yet advanced digital asset exchange platform. Below, it provides the specifications of the platform as well as a brief explanation of the core features.

Products of LYOTRADE

1. Swap Trading 2. Spot Trading 3. Fiat Trading 4. Futures Trading

Swap Trading

A swap is an agreement for a financial exchange in which one of the two parties promises to make, with an established frequency, a series of payments, in exchange for receiving another set of payments from the other party.

Spot Trading

Spot trading is quite popular among cryptocurrency traders. We have various options to buy and sell coins whenever you want. The coins with high liquidity have a higher trading volume on popular exchanges than the others. As a crypto trader, you should be familiar with the patterns and techniques used by spot traders.

Fiat Trading

Fiat money is a government-issued currency that is not backed by a commodity such as gold. Fiat money gives central banks greater control over the economy because they can control how much money is printed. Most modern paper currencies, such as the U.S. dollar, are fiat currencies.

Futures Trading

A futures contract is one such financial instrument wherein a contract or agreement is formed between a buyer (the one with the long position) and the seller (the one with the short position) and the buyer agrees to purchase a derivative or index at a specified time in the future for a fixed price.

Deposit / Withdrawal

Deposits and withdrawals are handled through modals. A user is prompted to deposit Bitcoin using either a Deposit Address, or by scanning a QR code. By default, national currency deposits and withdrawals are handled through wire transfer via OTCsystem.
There will be the option to enable two-factor authentication (“2FA”) for withdrawal and deposit. 2FA works as an extra step in the process, adding a second security layer that will re-confirm users’ identities, making the deposit/withdrawal process more resistant to attacks and reducing fraud risks.

Trading Pairs

LYOTRADE exchange currently supports trading pairs in the table of the following coins. More coins will be added over time. We generally will only add coins that have strong credibility, user base, and liquidity.
USDT
BTC
ETH

Revenue Model

Buy and sell transactions – LYOTRADE exchange charges traders a spread on the buying and selling of cryptocurrencies. The spread is equal to 0.2% for all crypto purchases and sales through the LYOTRADE platform.
Other variations will be subsequently introduced, including maker-taker, volume-based tiering, and 0 fee promotions for trading LYOTRADE tokens. There is no plan to charge above 0.2%.
Withdrawal fees – Charge small withdrawal fees.
Listing fees – We will select innovative coins and other assets to be listed on the exchange, there may be a fee associated with those listings.
Margin fees – If you trade on margin, there may be a fee or interest on the borrowed amount.
Other fees – There may be other fees the platform may collect for various services such as automated algorithmic order etc.

Risk Control & Security

Risk Control is the set of methods by which firms evaluate potential losses and take action to reduce or eliminate threats such as:
  • Transaction fault tolerance
  • Transaction risk control
  • Position risk control
  • OMS04 stable system

Security Measures

The login process for LYOTRADE will include typical 2FA measures and other security protocols such as IP address flagging for suspicious logins from a different IP address and CAPTCHA checks to prevent bots and other automated systems from accessing legitimate systems. We also follow industry-leading practices of using multi-signature wallets and a two-step approval process for managing our funds, as well as a combination of hot and cold wallets for storage. Our clients can trade with confidence, as their accounts would be insured against all types of cyber-attacks which compromise the digital assets in the trading account.
Last modified 3mo ago