Bidesk is a decentralized cryptocurrency exchange platform that was launched in 2018. The services of the platform include spot trading that offers popular cryptocurrencies and crypto industry services. Bidesk has its own IEO platform and a native token. Bidesk token (BDK) is an ERC20 standard token that was developed on the basis of Ethereum.
The founders of Bidesk consider that users of the community are an essential priority therefore the platform should deliver a high-class service.
Bidesk features a powerful trading engine to deliver fast and effortless transactions. The platform offers spot trading, OTC trading, staking, margin trading, and lending options. The assortment includes such popular cryptocurrencies as ETH, XRP, BTC, and EOS. Additionally, the company has listed such promising altcoins as UBT, MBN, LIT, MATC, and GRIN planning to list cryptocurrencies of different popular digital assets and less known crypto coins. The brand is community-focused and tries to involve the community members to decide upon the future of the exchange. This is done through the voting system.
Bidesk offers to enlist cryptocurrencies for a fee with a promise to arrange the Initial Exchange Offering in a transparent manner. The listing price depends upon the prestige and popularity of the project. The listings are made on a quality-based model. However, there is a warning on the platform telling users to do their own research and make the decision on the basis of its result.
The support service works round the clock and can solve the customers’ problems at any time. The platform is cross-browser and functions smoothly on multiple devices based on Android, iOS, Windows. The traders with good expertise can use API.
The transaction fee is about 0,09% per trade, which is deducted from the total sum of the transaction. The digital assets are withdrawn on request to the required wallet. The token holders can enjoy the discounts. BDK payments can make transactions by 10-50% cheaper.
The company has issued a BDK token that offers numerous privileges and benefits for its holders. The total supply is 100 million tokens and it won’t be increased.
The token sale ended on the 28th of February, 2020. BDK token sale was arranged by IEO Labs. 3% of token supply was allocated, or 3 million BDK. The contribution limit was established at the level of 750 USD. The tokens were listed within 24 hours after the token distribution.
The distribution of tokens is the following: the team gets 10% of the token supply that is distributed via the vesting schedule. 10% is distributed to the ecosystem. 20% of tokens are allocated to the foundation, and 10% to the ecosystem. 9% of tokens was left for incentives of the ecosystem.
The platform uses the burning mechanism to preserve the scarcity and maintain the price of the tokens. The platform buys back the tokens from the secondary market to burn them. For burning, the coins are sent to an eater’s address and in this way are taken out of circulation. The buy-back records are provided on the website of the platform. The records can be easily verified. The burning procedure reduces the number of coins in circulation.
The users of the exchange regularly get airdrops of the projects placed on the exchange. The exchange users can also take part in promotional events that are arranged on the website. The announcements on social media tell about the promo events and activities. Trading events and social media campaigns take place on a regular basis.
The platform uses risk control systems with warning messages for users undertaking high-risk actions. Users should pass KYC verification for security.
The team includes tech executives, blockchain experts, investors, developers, and other specialists. There are more than 20 employees in the team located in different countries.
Bidesk arises curiosity as the addition of high-profile crypto personalities always attracts the attention of the project. The platform has a couple of personalities from the American Marketing Association that makes it more reputable. These are the CEO of the company Sunil Robert, who takes the position of SAP consultant and technical lead for more than 15 years. The other key member of the exchange is Sam Choi, CSO, who is also employed as Sales Operations Manager at Thomsons and Qubit.