MercuriEx Cryptocurrency Exchange SurfExUtilityToken · 2020-05-17 · MercuriEx Cryptocurrency...

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MercuriEx Cryptocurrency Exchange SurfExUlityToken

Transcript of MercuriEx Cryptocurrency Exchange SurfExUtilityToken · 2020-05-17 · MercuriEx Cryptocurrency...

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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.