MercuriEx Cryptocurrency Exchange SurfExUtilityToken · 2020-05-17 · MercuriEx Cryptocurrency...
Transcript of MercuriEx Cryptocurrency Exchange SurfExUtilityToken · 2020-05-17 · MercuriEx Cryptocurrency...
MercuriEx Cryptocurrency Exchange SurfExUtilityToken
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MercuriEx Cryptocurrency Exchange was founded in late 2017 by a small team
of professional software developers and veterans in the cryptocurrency
space. The aim was to provide a fast, secure and streamlined user experience.
SurfTheWeb Ltd purchased Mercuriex in Q4 2019 and have plans to rebrand/
rename the exchange to SurfEx Cryptocurrency Exchange.
At the time of purchasing the exchange, the platform was fully operational
with an active userbase and traders. We see the potential for growth within the
crypto-space in the coming years and are taking steps now to position
ourselves for the future.
In addition to rebranding the exchange, our plans include growing the
userbase, both organically as well as through major advertising campaigns
with marketing companies.
We will continue to service our existing userbases and plan to expand our
exchange operations to a broader global community.
By forming new partnerships in the industry we will be able to provide access
to unique opportunities globally, with plans for FIAT gateways to make trading
between FIAT and Cryptocurrencies easier for users in all regions where we
operate.
“We were frustrated by the bureaucracy, slow support, long verification
times, oversaturated listings, and monetization of customer information
from other exchanges. Furthermore, we wanted to create an exchange
that was crypto first, but still allowed users with a fiat on/offramp,
which we do provide through TrueUSD.”
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MercuriEx is a fully operational Peer-to-Peer Cryptocurrency Exchange with a
working trade engine and active userbase.
We will be rebranding / renaming MercuriEx to SurfEx, this is planed to be
completed towards the end of 2020.
Along with rebranding, we are forming partnerships with industry-leading
companies to expand our global userbase.
Through these partnerships, we will be able to provide services to our
network of users all around the world, including FIAT gateways, FIAT to
Crypto trading pairs, listing new cryptocurrencies and hosting IEO’s for new
cryptocurrencies.
As part of our “Partnerships & Growth”, one of our new partners will be
fulfilling our compliance requirements (KYC) and (AML).
We are expanding our existing operations and are in the process of acquiring
the relevant UK Licenses and Regulatory Registration to meet our compliance
obligations and requirements, we will then expand further outside of the UK.
We feel that the most substantial obstacles to the mass-adoption of
cryptocurrency is that users find it “hard” to buy crypto with their FIAT. By
meeting our compliance requirements we will be able to offer FIAT Gateways
through one of our new Partnerships, which means our users will be able to
buy and sell cryptocurrencies with FIAT.
Having an accessible and easy to use Fiat to Cryptocurrency service will give
our Exchange a real edge over the majority of existing exchanges who do not
have this facility in place.
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We have created a new Cryptocurrency called SurfExUtilityToken [SURF].
SURF is the official Exchange Utility Token (E.U.T.) for the MercuriEx
Exchange.
SURF will have multiple uses and will be integrated into our exchange
wherever possible. Through SURF, we will offer our users and traders
discounts on their trade fees on the exchange.
We will also accept SURF as a payment method for IEO and Exchange
Listings in the future as well as payment for our fees or services on the
exchange (usually at a discounted rate), including but not limited to trade-fees
and deposit & withdrawal fees.
SURF has been issued as an ERC-20 compliant token on the Ethereum
Blockchain. SURF can easily be listed on any exchange where ERC-20 tokens
are listed and can be stored in any compatible ERC-20 wallet.
SURF Total Supply: 250,000,000
The allocation of the 250,000,000 Total Supply is as follows;
50,000,000 (20%) Sales & IEO.
75,000,000 (30%) Public Distribution.
25,000,000 (10%) Exchange Team
100,000,000 (40%) Reserve
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Breakdown of Allocations
*Sales & IEO = 20%
50,000,000 SURF are to be sold as follows;
Pre-Sale/Private Sale:
5,000,000 SURF $0.05 each
Public IEO via Latoken Launchpad:
45,000,000 SURF 0.00002 BTC each (2000 Sats BTC)
Funds raised in Pre-Sales & Public IEO will be used for the expansion of our
exchange services, including R&D, Hiring and Training new Staff, Providing
Market Liquidity Support, Exchange Reserves, Marketing and Advertising,
Office Space, Global Licensing, Compliance & Regulation and Crypto-fund
insurances.
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*Distribution = 30%
SurfTheWeb Ltd and our official Partners will distribute 75,000,000 SURF to
our users.
A portion of the distribution will be in the form of rewards, free giveaways and
competitions, hosted by SurfTheWeb Ltd and our marketing partners.
Some of the 75,000,000 SURF will be distributed directly to our Exchange
Users through an Affiliate and Referral system, rewarding the users who help
to build the userbase of the exchange by inviting their friends, families and
extended networks to register and use the exchange to trade.
Through the affiliate and referral system, 10% of the trade fees earned by the
exchange will be rewarded to the affiliates who have referred traders to use
the exchange, this reward will be in the form of SURF tokens and will be based
on the total trade volume of the users direct affiliates.
*Team = 10%
25,000,000 SURF to be distributed to the exchange employees and support
staff as a wage.
This fund will be used to pay wages and running costs associated with the
direct founding team and their extended team members as well as support
staff and developers. This includes all work that has been done to date, as
well as ongoing wages until such time that the exchange is fungible through
exchange trade and operational fees.
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*Reserve = 40%
100,000,000 SURF to be held in reserve by SurfTheWeb Ltd for 12 months
following completion of the Public IEO.
Any unutilised SURF that remain in this fund after 12 months from completion
of the Public IEO will be burned at an allocated rate of 10,000,000 SURF per
month until all unutilised tokens are destroyed.
Verifiably burning SURF will reduce the total supply, in-turn increasing the
percentage share of the total remainder of SURF.
ANY utilisation of the reserve fund will be announced publicly with full
disclosed for their intended use before unlocking the fund.
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SurfExUtilityToken Utility:
As with many Exchanges who utilise their own Exchange Utility Tokens, our
Utility Token SURF can be used to pay for various fees on the exchange,
usually at a discounted rate* including but not limited to;
Exchange Trading Fees,
Withdrawal Fees,
IEO Listing Fees,
Crypto Listing Fees,
And Other Services,
*Discounted rates will be shown for each service/fee in our Terms &
Conditions pages on the website in the future and will be subject to change at
our discretion.
Trade Fee Discounts;
We will offer a 50% discount on trade fees for at least the first 12 months of
trading following completion of the Public IEO Sale. This discount may be
reduced in subsequent months/years after the initial period of 12 months.
A user who opts to pay their trade fees with SURF will automatically receive a
discount on their trade fee (this will be enabled by default for any user with a
SURF balance in their exchange wallet after SURF has been implemented).
On most exchanges, for every trade made, the exchange charges a small
“trade fee” (typically between 0.1% - 0.5%).
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Trade Fee Discounts continued…
Example of Discounted Fee using SURF;
If you sell an Altcoin on the Mercuriex exchange for a total of 1 BTC (Bitcoin)
the trade fee due is 0.2% (i.e. 0.2% of the 1 BTC amount that you received from
the trade);
1 BTC - 0.2% = 0.002 BTC Trade-Fee
This FEE is automatically taken from the trade amount and paid to the
exchange.
If the trader has enough SURF in their exchange account (using the example
above, 0.002 BTC WORTH of SURF), the trader can receive a discount on the
FEE due.
Note: In the first 12 months after SURF Public IEO is completed, the discount
amount for trade-fees will be 50% if paying with SURF token.
Using the same example as above. Your trade fee due on the above trade is
0.002 BTC.
If you have 0.002 BTC WORTH of SURF, and you opt to pay your fee with
SURF, you will receive a 50% discount on the fee due, and your fee due will be
0.001 BTC worth of SURF instead of 0.002 BTC
If you do not have enough SURF to cover the full fee, you would pay the full
0.002 BTC fee on the above example.
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Below is relevant information regarding taking part in the IEO sale of the
50,000,000 SURF that are being sold.
Pre-Sale;
There are 5,000,000 Total SURF available in the Pre-Sale.
The minimum purchase amount in pre-sale is $10,000 (USD).
Cost per SURF in Pre-Sale = $0.05
Public IEO;
There are 45,000,000 Total SURF available in the Public IEO which will be
hosted by Latoken exchange on their IEO Launchpad.
The price of SURF in the IEO will be 0.00002 BTC (2000 Sats)
There is no minimum purchase amount in the IEO.
If you wish to apply for the Pre-Sale you can contact us directly by email at
[email protected] and a member of the team will promptly reply to you.
Acceptable Payments during Pre-Sale will be “Major” Cryptocurrencies, such
as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) etc, USDT or TUSD.
By special arrangement only, we can also arrange a bank wire / international
bank transfer.
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We aim to monetise SURF through our actions as a cryptocurrency peer-to-
peer trading exchange.
As mentioned in the “Utility” section of this Whitepaper, we will accept SURF
for;
Trade Fees
Withdrawal Fees
Cryptocurrency listing Fees
IEO listing Fees
Other fees on the exchange and as a company.
In some cases, or at certain times, we may exclusively request SURF for some
services, such as listing an IEOs or a new Cryptocurrency, thereby driving
demand for SURF on the open market and imparting value upon the coin by
its required use on the exchange for specific items and/or services.
Any SURF Coins received by the exchange through any form of payments or
fees, may be, at any time, sold on the open market, given away by the
exchange at our discretion, burned or otherwise disposed of.
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2017: Mercuriex Created
2019 (Q4):
Mercuriex Purchased
by SurfTheWeb Ltd
2020: Rebranding of
Mercuriex to SurfEx
2020 (Q1):
SurfExUtilityToken [SURF]
Creation and Start of IEO
at Latoken
2020 (Q1-Onwards):
Exchange and SURF
Marketing & Community
Growth
2020 (Q1-Onwards):
Form Partnerships
within the Industry
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We cannot speculate on the future value of SurfExUtilityToken [SURF].
As we grow and expand, we (the owners and extended team) expect to see
significant increases in trading activity on the exchange. SURF is first and
foremost a Utility Token, very useful to traders who are looking to maximise
trading profits. By using SURF, traders can save money on their deposits,
withdrawals and trading fees.
As SURF Token serves a very useful purpose on the exchange, we would
expect speculators to engage in trading SURF on the open markets, and as
traders on the exchange continue to amass SURF tokens in their exchange
wallets to pay fees, this should reduce the actual available market supply and
thereby make SURF considerably more valuable.
As an interested party, if you do your research, you will find that many top
cryptocurrency exchanges have created utility tokens in recent years. In most
cases where these tokens have been integrated successfully their value has
grown. Many of these exchanges held IEOs for their tokens and the ROI’s
have been substantial.
As above, we cannot offer any guarantees or even speculation on the actual
future value of SURF, but we believe by expanding the exchange operations
and increasing our userbase and traders activities on the exchange we will
become successful. By implementing SURF token into our exchange at all
levels possible, we make SURF useful. We feel that a useful token on a
successful platform should result in an increase in market value for SURF
token.
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The material in this presentation has been prepared by SurfTheWeb Ltd.
This material is general background information about MercuriEx Exchange
and SurfExUtilityToken [SURF], current as at the date of this presentation.
This information is given in a summary form and does not purport to be
complete.
Information in this presentation, including forecast financial information,
should not be considered as advice or a recommendation to investors or
potential investors in relation to holding, purchasing or selling securities or
other financial products or instruments and does not take into account your
particular investment objectives, financial situation or needs.
Before acting on any information, you should consider the appropriateness of
the information having regard to these matters, any relevant offer document
and in particular, you should seek independent financial advice. All securities
and financial products or instrument transactions involve risks, which include
(among others) the risk of adverse or unanticipated market, financial or
political developments and, in international transactions, currency risk.
This presentation may contain forward looking statements including
statements regarding our intent, belief or current expectations with respect to
MercuriEx and/or SurfExUtilityToken, market conditions, results of operation
and financial condition, capital adequacy, specific provisions and risk
management practices. Readers are cautioned not to place undue reliance on
these forward looking statements.
SurfTheWeb Ltd does not undertake any obligation to publicly release the
result of any revisions to these forward looking statements to reflect events
or circumstances after the date hereof to reflect the occurrence of
unanticipated events. While due care has been used in the preparation of
forecast information, actual results may vary in a materially positive or
negative manner. Forecasts and hypothetical examples are subject to
uncertainty and contingencies outside SURFEX control. Past performance is
not a reliable indication of future performance.
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This document is not intended to represent the sale of this token as being a
Share Offering or Equity Offering.
SurfExUtilityToken [SURF] sale does not involve the exchange of
cryptocurrencies for any form of Ordinary Shares in SurfTheWeb Ltd or
MercuriEx Cryptocurrency Exchange, neither does SurfExUtilityToken [SURF]
purchaser receive any form of dividend or return that is guaranteed.
Unless otherwise specified all information is for the quarter ended 31 March
2020.