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The Daily Chain Primers: Eterbase Introduction

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Cryptocurrency exchanges have changed in many ways to benefit users, from better trading options, to exchange tokens with exclusive benefits, as well as mobile applications for easier accessibility. 

One exchange you may have heard about recently that is causing a stir within the community is an exchange called Eterbase. As a Media Partner for the exchange, The Daily Chain recently posted the Blockfyre report on Eterbase, a 24-page objective presentation. 

So who are they, what makes them differentiate from other exchanges, and how does this stack up for the user? Let’s take a look.

At A Glance 

Eterbase is a European cryptocurrency exchange that is fully compliant with the European Union (EU). Although the Eterbase exchange is part of a bigger network called the Eterbase project, the exchange is the main feature of the team and its work. Another main feature of the Eterbase project is a digital asset called Eterbase Token, or XBASE, which is currently used on the exchange. The third major feature of Eterbase is their asset backed stable coin EURBASE, ticker name EBASE, that is pegged to the Euro. These three features make up the vision of the Eterbase project and team. 

The Exchange

The Eterbase Exchange is an upcoming exchange committed a full, end-to-end integration between the digital asset world with the legacy fiat economy. On a general level, this is achieved by having a suite of cryptocurrencies and tokens on their exchange available to users with the added networks of “fiat on-ramps” by having accounts accessible to the Single Euro Payments Area (SEPA) and International Bank Account Numbers (IBAN). This allows for maximum amalgamation for the user. The exchange offers incentives to traders like fee free deposits & withdrawls and negative trading fees for premium members.

There are some unique features of the Eterbase Exchange itself, such as it’s application of a multi-node architecture, which is capable of running up to 15 million trades per second. The exchange also gives priority to low latency messaging between nodes within the system. In addition, there is a built-in fault tolerance to handle scaling of the network or if issues arise with present nodes. 

Most of those features for the Eterbase Exchange are hidden behind the scenes or benefits for the users as a passive stream of user experience. There are active and direct features for users in addition to the more discreet elements. Features that have been advertised on the Eterbase Whitepaper include access to Eterbase Debit Cards, security Tokens in line with EU regulations, and perpetual contracts for Bitcoin and Ethereum. 

Eterbase Token

The other predominant feature of the Eterbase Project and accessory of the exchange itself is the Eterbase Token, also known by the ticker $XBASE. The token is part of the Ethereum Network using the ERC-223 standard with the purpose of incentivizing the use of the Eterbase exchange, although the XBASE token can be used without the exchange and is explicitly considered a transferable utility token. 

One of the features of using the XBASE token is Premium Memberships, which allows users to gain benefits for depositing XBASE and locking them away. There are nine tiers for users to decide how much to lock away. Eterbase will split the Maker Fees on the exchange beginning with Tier 4 at 10%, all the way to 50% at the highest level. Although the Taker Fees are still incurred, they are reduced significantly to 0.01% for the highest tier. 

Another feature of the Eterbase exchange is the Eterbase Treasury Gateway, a project system that allows a bridge for crypto projects to transact with enterprises (B2B facilitation). This allows blockchain projects to get access to financial services that they otherwise would not obtain or have a margin of difficulty succeeding with. Projects would be able to achieve EURA, SEPA, and IBAN status in addition to opening up payment accounts to send and receive payments. This also helps crypto projects have a line to trust and quality, which shows clients of those projects that they are committed to adoption. This also creates a level of cross-marketing, transparency, and the ability to support others on the same gateway and the XBASE token system. 

The Eterbase token has two networks that operate for the Eterbase Exchange. XBASE is the main network and runs predominantly for use of the extra benefits for utilizing the token on the exchange. On this network, a sub network for XBASE is specifically used on chain that is called XBASE-B and used exclusively for the Binance DEX platform. The second full network on the platform is EURBASE, displayed as the ticker EBASE. This is Eterbase’s asset backed stable coin and is used in accordance with IBAN accounts and is directly involved in liquidity for Euros. The EBASE coin can be traded with EUR, or vice versa, to allow users to trade effectively or withdraw from the exchange. 

Conclusion

The Eterbase Exchange arrives in the midst of a new generation of trading capabilities and competes well among them. There are in-house features and benefits to the exchange in addition to sufficient deposits and withdrawals with accounts that are compliant with both local and international regulations. Furthermore, the Eterbase token with two functioning networks and one on-chain sub-network provides versatility to the exchange and Eterbase project. 

Trading on the exchange has recently gone live. The exchange currently offers a generous variety of pairs after its launch, including seven Bitcoin pairs, over 20 ETH pairs, and 30 pairs shared by both XBASE and EBASE.

Find more Eterbase content on The Daily Chain below:

BlockFyre Coin Reviews: Eterbase

Q&A — Robert Auxt, Founder & CEO at Eterbase

Eterbase Launches The Treasury Gateway

Introducing Eterbase Premium Memberships

Joseph Walker
Lead Content Writer

The Daily Chain
Inform. Educate. Succeed.

*Disclaimer – Eterbase are our Media Partners and therefore this content is sponsored by them. The fees paid by this project are used to pay for The Daily Chain salaries, dev work, hosting services, travel expenses etc.. that are required to make this company a success and continue to provide the community with great content on a daily basis.

Joseph Walker
Joseph Walker has been a cryptocurrency and blockchain fanatic since 2017. He also has an education in research and writing, along with an application for content strategy. Enjoys humanitarian work and how cryptocurrency can help others in the future.

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