Why is IDON not listed on a Public Crypto Exchange?
IDON Strategically Removed from Public Exchange in Favor of the Secure Trading Platform offered through CoinLock.
In April 2021, the Idoneus Executive Team decided that IDON will publicly be made available solely on the CoinLock exchange and has delisted it from public crypto exchanges.
Why is this significant?
Public cryptocurrency exchanges are not designed to accurately determine the full value of IDON, a cryptocurrency that is used to purchase millions and deca-millions of dollars worth of assets, goods and services at any one time. Public exchanges only track buy / sell transactions and do not reflect a token’s / cryptocurrency’s utility, what the token can actually be used for, and the sales that occur using a cryptocurrency as a method of payment for assets, goods and services.
In addition to the requirement to track IDON utility and payments, we required (and our token holders expect) an exchange partner that provides discretion, as well as the highest level of security. We have not seen this offered at an acceptable level by public cryptocurrency exchanges. Additionally, CoinLock understands the holistic approach that is needed to properly evaluate the value of IDON. As a Swiss payment token, the most important aspects are related to what IDON can be used for as a method of payment and the corresponding transactions that occur as a result (further details on this below).
For the above reasons, Idoneus has made the strategic decision to delist IDON from Public cryptocurrency exchanges, in favour of the significant benefits offered through CoinLock.
This reflects the nature of the business in providing owners of significant high-value assets with the best routes to secure full value for their holdings. The move to commit to the CoinLock model provides holders of IDON with greater security, the possibility to trade IDON in ETH and USD pairs as trade depth develops, access to increasingly innovative opportunities to leverage the utility of their token holdings and the ability to send and receive IDON in seconds to anyone in the world without fees.
CEO Jarrett Preston says: “The Idoneus team is confident with this decision. By making this move now, IDON takes another significant step forward toward becoming the preferred medium of exchange for high value luxury assets across the globe.”