NRGX - Io Whitepaper
NRGX - Io Whitepaper
(EN)
June 2018
Table of Contents
Introduction …………………………………………………………………….. 2
Introducing the NRG token …………………………………………………… 3
Benefits of Blockchain Technology …………………………...……… 3
Is Energy Token a Utility Token or a Security Token …...….……….. 4
Features of the Upcoming NRGX Exchange ……………………….. 5
NRG Token Trading Fee Discount ………………………...…… 5
Low Cost Leverage ………………………………………...……. 5
Fast Execution ………………………………………………….... 6
Over the Counter Trading …………………………………….... 6
Crypto Derivative Trading …………………………………….... 6
Custodian Service ……………………………………………….. 7
Initial Token Offering and Listing Advisory Services ………… 7
The Energy Pool ……………………………………………………………….. 9
Energy Pool Revenues ………………………………………………… 9
Spreads …………………………………………………………. 9
Commision ……………………………………………………… 9
Risk Positions …………………………………………………… 9
Margin Interest …………………………………………………. 9
Transaction and Placement Fees …………………………….. 10
Example of Energy Pool ………………………………………………. 11
Disclaimer ………………………………………………………………. 12
Our Vision ………………………………………………………………………. 13
Roadmap ………………………………………………………………….…….. 14
Initial Token Offering and Token Distribution ………………………….….... 16
Legal Disclaimer …………………………………………………………...…… 18
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Introduction
The NRGX token will power the NRGX exchange, where it will provide fast,
seamless, and low-cost trading for crypto and digital asset investors
worldwide. NRGX exchange will also aim to cater to the occasional digital
asset trader, to professionals, as well investors in the field.
Our project will create a digital asset trading hub capable of executing
multiple trades in a given moment with low spreads, low-trading fees, and
high liquidity. This will ensure that the investor will be provided with the best
quotes and execution at the best quote possible.
With NRGX exchange, investors and traders will be able to diversify their
holdings to the best digital assets available while also be provided with
ample liquidity to provide a peace of mind.
We hope that this whitepaper will be able to describe the products, details,
and vision of the project to address your problems investing in the digital
asset marketplace. And with you, we can make this a reality.
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Introducing the NRG token
NRG (read: energy) token will be the gas that fuels NRGX trading platform.
NRG is a utility token that enables frictionless transactions over a wide range
of assets on the NRGX exchange while also acting as a medium of exchange
and store of value.
You can use NRG token to participate in the NRGX shared liquidity pool
called Energy pool, charge the Energy pool with fresh assets and receive
daily payouts to your NRGX wallet in cryptocurrency.
In the future, NRG token holders may also be able to use their tokens to
purchase new ICOs on our standalone NRGX exchange.
Participants will have a fair and transparent distribution of new issues based
on price and demand, therefore removing backroom dealings and
relationship.
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Is NRG Token a Utility or a Security Token?
NRGX management is fully confident that NRG token falls under the
classification of a utility token and NOT a security token. NRG Token has two
means of usage: i) it is required to participate to the NRGX platform; ii) it acts
like a membership coupon that grants access to the NRGX energy pool when
used in the NRGX wallet. Energy Pool participants can contribute Crypto and
NRG tokens (and eventually other listed assets) to the pool after having
contributed an amount of NRG tokens for granting the use of the platform.
Therefore, if NRG tokens are held outside the platform's wallet, or the
amount is less than the necessary amount needed to participate in the
Energy Pool, both cases would disqualify a potential participant from
accessing the Energy Pool
NRG token holders may receive other coupon benefits such as preferred
access or discounts on future products of new listing on the NRGX exchange.
NRG tokens act as:
● a medium of exchange on NRGX platform and that of some of its
potential early adopters
● a store of value that can be used to purchase goods and services once
accepted by third parties
● a membership key in the NRGX wallet, regardless of the amount held
● a membership key providing access to the Energy Pool, when and only
if at least a predetermined amount of NRG tokens are held in the
NRGX platform's wallet.
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Features of the Upcoming NRGX Exchange
With NRGX exchange, investors in the digital asset marketplace will be better
served with cutting edge institutional grade features. This may include low
trading fees (through usage of the NRG token), low-cost leverage, fast
execution, over the counter trading facility, crypto derivative trading,
custodian service, and initial token offering and listing advisory services.
Users will benefit substantially through the usage of NRG tokens where they
will receive discounts on their low trading cost. We believe this will drive up
trading volume on the exchange as well as the demand for the token itself.
With the usage of NRG tokens to deduct exchange fees, this low trading fee
may become lower up to 0,1% per trade. We hope during the discount
periods utilization of the NRG token may increase as will the usage of our
NRGX exchange. We hope that this may also provide significant benefits to
both early and late adopters of our NRG tokens.
Low-Cost Leverage
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When executing the trade, each leveraged trade will have a liquidation price.
If the aforementioned liquidation price is reached before the trade is settled,
the trade will be settled in order to prevent a negative balance, thus
protecting the account.
We will utilize the existing Energy Pool to energize the leverage function of
NRGX exchange. We believe in the long run the pool will have more than
sufficient liquidity to provide leverage to trades executed in NRGX exchange.
Fast Execution
At this particular type of trade, NRGX powered with our Energy Pool, will be
able to process such trade with ease for the investors at a competitive price.
Cryptocurrencies and other crypto assets are a very volatile asset class. This
presents itself in an opportunity where traders in the digital asset
marketplace may take advantage of the volatility. We present this
opportunity to both investors where they can take either sides of both trades,
they may go long or short a certain cryptocurrency or asset. Along with this
instrument, we present one where they can employ leverage to increase their
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returns. We offer up to 100 (one hundred) times leverage to traders on the
platform, therefore providing an avenue for maximum profit to traders.
Custodian Service
Startups who are interested in issuing their initial token sale will have liquidity
ready, and directly listed on our NRGX exchange. Participants in the
exchange can also rest assured with being provided high quality Initial Token
Offerings on our exchange, therefore providing an ease of mind for
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diversification of their digital asset holdings. We also hope that by hosting
such listings, the demand for NRG tokens may increase as more participants
are inclined to use NRG tokens to purchase promising high quality tokens
through offerings in our NRGX exchange.
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The Energy Pool
The Energy Pool is the opportunity given to NRG token holders to contribute
a selected amount of assets contained within their wallets to be shared in a
peer to peer liquidity pool. Half of the profits (or losses) generated will be
allocated from the Energy Pool with those subsequently allocated pro-rata to
the participants and paid out as fees on a daily basis. In other words, 25%
(twenty-five percent) of the daily revenues NRGX generates will be paid from
the Energy Pool.
After reaching the minimum predetermined rate of NRG tokens held in the
NRGX wallet that grants participants access to the Energy Pool, each
participant will be paid a daily reward proportional to the amount of NRG
tokens contributed to the pool.
The Energy Pool will be offered to participants once the required regulatory
authorization are obtained.
The Energy Pool will generate revenues from the following means, Spreads,
Commision, Risk Positions, Margin Interest, Transaction and Placement Fees.
Spreads
50% of the spread on all transactions completed on NRGX platform will go
into the Energy Pool so that every participant will have a share of the profits.
Commision
25% (twenty five percent) of all commissions charged will go into the Energy
Pool.
Risk Positions
Risk management is done using sophisticated proprietary algorithms, and
done on a macro level along with a granular level, thus maximizing the profit
potential for the Energy Pool.
Margin Interest
One of the hallmark features of the NRGX exchange platform is to provide
clients margin financing. We also enable clients to take a loan utilizing the
funds in their NRGX wallet as collateral. The creditor of these loans will be
other clients who are interested in earning interest revenue from the peer to
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peer lending program. NRGX will earn a small fee as revenue for providing
this service and facilitating the lending. A quarter (twenty five percent) of this
generated revenue will go into the Energy Pool.
Participants will receive their daily payment in proportion to each user's total
contribution to the Energy Pool. Daily payments will be predicated on the
Energy Pool revenues meeting high water marks. For example if on Day 1 the
Energy Pool achieves a profit of $100, and on Day 2 it incurs a loss of $50, in
order for profits to be paid out on future days, the $50 that is lost needs to
be recouped beforehand.
Members are required to participate in the Energy Pool with the use of NRG
tokens. The higher the amount of participation is, the higher the percentage
share in the rewards will be.
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out. Instead, any losses will need to be made back first prior to further
rewards being paid.
To illustrate a sample situation using the plan above, let’s take the following
hypothetical situation, where there are 3 (three) participants, Participant A, B
and C.
Participant A has locked in 10,000 (ten thousand) NRG tokens, this means
they are eligible for a 15% participation for the following day in the Tier 1 of
the Energy Pool.
Assuming that there was revenue generated worth 10,000 (ten thousand)
NRG tokens in a given day,
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Disclaimer
The Energy Pool technology and its components will be discussed with the
competent regulatory authorities and will go live only once NRGX or another
group company using the Energy Pool technology will have received the
necessary authorization or a confirmation that no authorization for this activity
is required. NRGX cannot exclude that the regulatory authority will ask to
change some of the mechanism described here above during the
authorization procedures.
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Our Vision
● Become the leading platform for trading multiple digital assets based
on the blockchain technology
● Become the leading exchange for traditional companies to raise funds
from crypto communities
● Become the biggest trading liquidity pool (Energy Pool) comprised of
NRG token holders for the benefit of NRG token holders
● Become the top 20 crypto-asset based on market capitalisation by
2020
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Roadmap
July 2018
● Private Pre-Sale of NRG Tokens
August 2018
● Pre-ICO of NRG Tokens
September 2018
● ICO
● Development of desktop and mobile application based trading
platform to provide professional trading capabilities for digital asset
traders
October 2018
● Development of trading platform
● Blockchain integration development with trading platform
● Formation of NRGX Energy Pool
December 2018
● Launch of NRGX exchange along with a web-based desktop compliant
trading platform.
● Initial Listing of 10 major Cryptocurrencies by Market Capitalization
with additional listing of 20 popular altcoins.
● Partnership with local exchanges to convert NRG tokens to Fiat
Currencies (IDR, USD, SGD, CNY, JPY, KRW, EUR, GBP at first)
Q1 2019
● Application for licenses required for NRGX activities
● Expected launch of mobile trading platform compatible with iOS and
Android
● NRGX will list an additional of 20 (twenty) popular altcoins in the
platform by the end of the quarter.
● NRGX expects to provide full suite of its services by the end of the
quarter.
● Trade volume expected to reach a USD 50 million daily by end of Q3
2018
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Q2 2019
● NRGX is expected to add 30 (thirty) popular altcoins in the platform by
the end of the quarter. Bringing the total to at least 80 coins with
pairings to NRG, BTC, ETH, and USDT.
● NRGX will start listing tokens from its advisory service. We expect to
list up to 5 tokens by the end of a quarter.
● NRGX expects to have regional offices throughout 5 (five) countries in
South East Asia (Indonesia, Singapore, Malaysia, Thailand, Vietnam)
Q3 2019
● NRGX will expect to add listing coins to its platform, bringing it to at
least 120 different tokens and cryptocurrencies by the end of the
quarter.
Q4 2019
● NRGX expects trading volume to be above USD 100 million daily by
the end of the quarter.
● NRGX expects to list up to 2 (two) tokens weekly from its advisory
service into the NRGX exchange.
Q1 2020
● NRGX expects trading volume in the platform to be above USD 200
million daily by the end of the quarter.
● NRGX expects daily trading volume on its NRG Tokens to be above
USD 30 million daily by the end of the quarter.
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Initial Token Offering and Token Distribution
During our ICO we expect to sell up to 250 million tokens at a rate of 2500
NRG tokens for 1 Ether (ETH). The amount of tokens sold on ICO will be
expandable to a maximum of 300 million tokens if an over allotment is
necessary. Any unsold tokens will be burned at the end of crowdsale.
Price at our Pre-ICO and ICO will be similar, but what stands out will be the
discounts purchaser of NRG Tokens are entitled to during each respective
periods.
Pre-ICO ICO
Period 4 5% Bonus
Allotment of tokens during the Pre-ICO and ICO period will be as the
following:
- Period 1 : 75 million NRG Tokens
- Period 2 : 75 million NRG Tokens
- Period 3 : 75 million NRG Tokens
- Period 4 : 75 million NRG Tokens
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- Period 5 : 250 million NRG Tokens with up to 300 million NRG
Tokens in the event of an over allotment of NRG Tokens
Each unsold tokens in every period will be available for sale in the next
period, in addition to the allocation of each period, following the terms of
sale for the respective period of sale.
As for the remaining tokens issued, 100 million tokens will be used for the
bounty and marketing program of the NRG token or about 10% of total
token distribution. 100 million NRG Tokens will be allocated for the liquidity
pool. 25 million NRG Tokens will be allocated for Advisors of the project. 375
million NRG Tokens will be allocated for Founders and Developers of the
NRGX project as well as funds for future Research & Development of the
product and future acquisitions of the product. Any excess tokens not used in
the bounty and marketing program of the NRG Token will be deployed to
shore up liquidity at the Energy Pool. There will not be any tokens issued in
the future after the ICO is finished.
When the ICO is finished, 20% of all net revenue of NRGX will be used for
NRG Token buyback from the open market. The tokens will be then burned
once each buyback period is finished. We believe this will enhance future
price appreciation as demand for the token is increased.
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Legal Disclaimer
NRG tokens are not securities and participants comprehend and fully accept
the fact that NRG tokens are not securities under any circumstance, neither
they are registered with any government entity as a security. Participants
comprehend and fully accept the fact that the ownership of NRG tokens does
not grant them in any way the right to expect or to receive proceeds, revenue
or returns rising from the attainment, holding, administration or disposal of,
the exercise of, the redemption of, or the expiry of, any right, interest, title or
benefit within the NRGX platform or any other NRGX property, partially or
entirely.
Acquiring and storing NRG tokens involves various risks, in particular that
NRGX may not be able to launch its operations and develop its platform.
Therefore, and prior to acquiring NRG tokens, you should carefully consider
the risks, costs, and benefits of acquiring NRG token within the crowd sale,
and if necessary, obtain necessary independent advice in this regard. Any
interested person or party who is not in the position to accept nor to
understand the risks associated with the activity as indicated in the white
paper, should not acquire NRG token until such risk is understood and
accepted.
NRG tokens does not have the legal qualification of a security, since it does
not give any rights or dividends or interests. The purchase of NRG token is
final and non-refundable. The NRG token is not a share and does not give
any right to owners of the token to participate to the general meeting of the
Company. The purchase and use of NRG token shall therefore not be done
for any speculative usage.
No fund insurance will be provided. Any and all types of funds collected
during Pre-ICO and ICO are in no way insured. Funds may lose their value in
whole or completely without warning. There is no insurance company, private
of public, to turn to should something go wrong with the funds provided.
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Fund refunds in case the crowdfunding campaign and distribution of NRG
tokens is cancelled, will be returned back to the wallets of their respective
providers. In regards to funds collected by the NRGX platform towards other
ICOs in the future, again funds will be returned back to their original
respective wallets should those ICOs are cancelled by their originators or do
not end successfully.
This whitepaper does not constitute an official agreement of any kind and the
information provided herein is for informational purposes only. Project
parameters, dates, specifications provided as well as other details technical
or not are subject to change without prior notice.
By participating in the NRG Token Sale, you have agreed to the NRGX Terms
& Conditions and in particular, you represent and warrant that you:
● are authorized and have full power to purchase NRG tokens according
to the laws that apply in that respective jurisdiction of domicile;
● are not a United States citizen, resident, or entity nor are they
purchasing NRG tokens or signing on behalf of any United States
citizen, resident, or entity;
● are familiar with all related regulations in the specific jurisdiction in
which they are based and that purchasing cryptographic tokens in that
jurisdiction is not prohibited, restricted, or subject to additional
conditions of any kind;
● are not acting for the purpose of speculative investment;
● live in a jurisdiction that allows NRGX to sell the NRG tokens through a
crowdsale without requiring any local authorization;
● does not live in a jurisdiction which is qualifying token issued through
a crowdsale as securities;
● will not use the token sale for any illegal activity, including but not
limited to money laundering and the financing of terrorism;
● are solely responsible for determining whether the acquisition of NRG
token is appropriate for you;
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● are acquiring NRG token exclusively for use of the NRGX platform or
any affiliated platform;
● understand the risks associated with the token sale;
● understand the use of cryptocurrencies and its associated risks;
● acknowledges and accepts that the NRGX platform is still under
development;
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