Decentralized Diamond Exchange CEDEX Launches Token Pre-Saleby Company Announcement March 16, 2018
CEDEX is the first ever certified blockchain based diamond exchange. Its aim is to bring together the traditional diamond industry and the modern financial markets, transforming diamonds into a publicly tradeable asset.
Built on top of the Ethereum blockchain, CEDEX is one of the first large-scale applications of tokenization. In the coming years, practically every major asset will likely be tokenized, including stocks, real estate, bonds, gold, carbon, oil, and more. Tokenization is an effective means of adding liquidity and transparency to the markets of real-world assets.
Of all the candidates for tokenization, diamonds represent perhaps the best and most urgent opportunity. While other assets will see their public markets improved by blockchain technology, diamonds need blockchain technology to have a public market in the first place.
Co-founders Saar Levi and Ronen Priewer bring to the table a combined 35+ years of experience in global financial markets and the diamond industry. They recognized that there were significant problems plaguing the diamond market and that technological development in blockchain and machine learning made it possible to finally solve those problems. A couple years later, CEDEX is the culmination of their vision.
Part of CEDEX’s innovative solution is the DEX – a proprietary machine learning algorithm that uses gemological data in order to evaluate individual diamonds. Unlike human diamond appraisers, the DEX appraises stones with full coherency and transparency, achieving a pricing accuracy rate of over 99.55%. With standardized pricing, the lack of fungibility that has long made diamonds so untradeable for the public will become an issue of the past.
The second piece of the solution is CEDEX Coin, an ERC-20 token that brings the transparency and security of the Ethereum blockchain to the diamond market. On the CEDEX exchange, ownership of diamonds can be transferred trustlessly using smart contracts, enabling peer-to-peer trading and injecting a ton of new liquidity into the market.
On top of that, CEDEX Coin will be used for exclusive access to supplementary services such as gemological labs, transportation, insurance, and custodial services. What’s more, CEDEX Coin gives users the ability to cover borrowing and collateral fees by opening a short position through the CEDEX platform. And finally, CEDEX will begin providing access to loans (in CEDEX Coins) through diamond investment portfolios in Q1 of 2019.
CEDEX Coin Token Pre-Sale
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.
To research more about the CEDEX project, you can read their whitepaper and look through the project website. There’s also a lightpaper if you’re short on time. Finally, you can get more involved in the CEDEX community on Telegram, Facebook and Twitter.
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Please note this is no investment advice.