While some exchanges are falling (FTX), others like Deepwaters are emerging with the promise of doing better. This new American platform, which will soon go online, will also soon launch its native token. The exchange sets itself the goal of providing a high-quality service to its users.
Deepwaters: A new exchange, great promises
Deepwaters is a new exchange platform launched by Vatnforn Inc. The parent company markets itself as an American technology company that creates next-generation applications for Web3. Vatnforn Inc designed Deepwaters with the idea of making it a platform that offers an easier and more convenient, safer and faster trading process.
The exchange features a hybrid architecture, combining centralized and blockchain technologies. The purportedly high-end platform promises its customers “enforceable integrity, accountability, and transparency; all of which are provable while maintaining speed, efficiency and low cost”.
Deepwaters deploys a wide range of features. In particular, it uses smart contracts for deposits and withdrawals. Chain technology also allows it to support self-guarding. The platform also promises to protect users from order flow reorganization, upstream execution, privileged rent-seeking or order flow blockage.
Focus on security, privacy, and cost reduction
Mismanagement and borderline illegal financial practices led to the collapse of FTX. This event and other downfalls have cultivated doubt in the minds of users. To regain the trust of the crypto community, Vatnforn Inc has developed a platform that eliminates any risk of embezzlement. The audits alone, the frequency of which exceeds that imposed by current standards, guarantee security and reliability to customers.
Vatnforn Inc has also developed a privacy-focused platform. The team explains, “Deepwaters is the first exchange that preserves the confidentiality and integrity of the order flow from origination to execution – ensuring that rehypothecation, custody breaches and fraud (even by exchange itself) are impossible”.
In addition, Deepwaters wants to address another issue common to most exchanges already in the market: cost. Operators cite, among other things, gas fees and multi-channel transaction costs to explain the often excessive fees. In addition, each transaction is processed differently on the blockchain, which is why the fees vary enormously. Deepwaters guarantees low-cost transactions.
Launch of the platform in a few days
Vatnforn Inc announces the release of the platform Deepwaters on February 14. According to the team, this launch comes after almost a year and a half of development and 4 months of Testnet with the participation of 140,000 people. On February 15, Deepwaters also plans to launch its WTR governance token.
In the process, the platform is planning a fundraiser over two days, on February 15 and 16. Users can purchase the ERC20 type ICO tokens for $0.12. The total supply is 350,000,000 coins, but at this point the platform will only put 13.1% of its tokens up for sale. The goal is to raise $250,000.
Deepwaters has already been able to raise $5 million from benchmark fundraising platforms such as Avalaunch, LD Capital and Big Brains Holdings. The public token sale on February 15 will be led by Avalaunch.
Deepwaters is a hybrid exchange that guarantees fair pricing as well as fair execution. It aims to be the first trading platform with proven reliability. Deepwater will leverage blockchain to prevent discretionary actions by any privileged parties.
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