Ceybit is excited to announce Sri Lanka’s first ever digital asset exchange, which will be opening registration and private sales on 12th June 2018.
Please Note: This is a Press Release
Ceybit will be predominantly a cryptocurrency/ fiat exchange catering to a population of 21 million. Cryptocurrency has yet to reach mass adoption in Sri Lanka and Ceybit is positioning itself to become the country’s leading exchange solutions provider.
Despite interest from the people there are no cryptocurrency exchanges in Sri Lanka. Ceybit is attempting to change that by working to create a user friendly, high end exchange that will cater to everyone’s need.
In addition to being an exchange, Ceybit is also building a unique mobile wallet enabling user to spend their cryptocurrencies and purchase them with cash. Users will be able to use in the inbuilt map to locate their nearest merchant to trade, adding a unique twist to tacking the unbanked problem faced by developing nations.
A payment gateway solution is also on its set of products to make available. The gateway is being designed to enable business get connected to online e-commerce markets in a highly flexible and cost effective manner.
What makes Ceybit stand out is the Ceybit token (CYBT) instant buyback and burn mechanism, making it a new entry into the market, which will be competing with leading exchanges such as Binance, KuCoin and Huobi.
The token utility model is structured to gain some independence to Bitcoin volatility and be a safe asset to hedge against the rupee and other depreciating currencies.
Current token sale has been structured to give early investors and backers the highest bonus for their risk liking:
- Private sale: 65% bonus
- Pre-ICO: 45% bonus
- ICO stage 1: 12.5% bonus
- ICO stage 2: Nil.
Traders and holders of the token on the Ceybit Exchange will be rewarded monthly for their participation in the form of CYBT rebates.
The alpha product will be going live within the next two months allowing the public an opportunity to register and test preliminary versions of the exchange.
Ceybit is also planning expansions to Malaysia, Philippines and Indonesia in 2019. It will be an exchange targeting developing countries with a go-to-market approach to have the highest impact.
Early community supporters are being rewarded through the bounty program, which is currently open to the first 1,000 members who are eligible for $10 USD worth of CYBTs, which will be airdropped as soon as the targets have been met.
Exchanges that are the first-to-market tend to outperform with high market share and maintain their lead in the long run. Thus, making it a promising project to follow and keep a close eye on.
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