The Clarity token adds an innovative tool to manage the risk of cryptocurrency derivatives and can only be bought once it is released on secondary listing platforms such as Liquid. Liquid had hosted its own Qash token sale successfully in 2017, selling out 350 million Qash tokens, equivalent to US$105 million, in three days. Liquid is the exclusive platform for the Clarity token sale globally. The Clarity token sale will take place on Liquid on August 28, 2019, 10am JST. Participants in the token sale on Liquid will be able to purchase Clarity with the following currencies: USD, USDC, XRP, BTC, ETH, QASH, and BCH. All Clarity token sale participants on Liquid will need to have a verified and funded Liquid account in order to qualify for the offering. Persons in the United States, Japan, China, and certain other jurisdictions are not eligible. Minimum electronic verification requirements to participate in the Clarity token sale include submitting a government ID and a selfie. All documents can be submitted online on Liquid, with the assistance of a 24/7 live chat team.
Clear Markets intends to swap the token sold on Liquid into a token that it has built on R3’s corda blockchain. Corda provides a secure, high quality, low-cost global transaction network which affords much higher transaction rates and less risk for hacking and disruption than other typical public blockchain technologies.
Clarity token sale participants will be able to hold their Corda-based Clarity tokens in their accounts at Liquid, transfer them to qualified custodians or keep them on their own private Corda node. Mike Kayamori, Co-founder and CEO of Liquid said: “We are excited to be partnering with Clear Markets and R3 to launch the Clarity token sale. We share the vision of a more complete cryptocurrency marketplace, one that includes derivatives contracts that use distributed ledger technology to improve risk management.”
“More importantly,” he added, “This will be Liquid’s first Corda-based token, and we now have the ability to support other Corda based projects in the future.”
Clear Markets, operator of marketplaces for swap contracts regulated by the CFTC in the U.S., FSA in Japan, and FCA in the U.K. and Europe, intends to add crypto derivatives to its offerings. Derivatives are among the most in-demand products in crypto trading, and the firm is bringing a digital token-driven approach to the management of crypto derivatives.
When the two parties to a crypto swap promise to exchange payments in the future, each is at risk of a default by the other. In traditional fiat-currency swaps, these risks add up. In 2017, according to ISDA, about $1.4 trillion in collateral, or margin, was pledged to backstop the risks of the deals.
Rapid growth in crypto derivatives trading drives growing demand for credit risk management tools. “Managing counterparty credit risk is one of the most pressing challenges in crypto trading today,” said Jonathan Heng, Head of Partnerships at Singapore-based Tilde Trading.
Clear Markets has developed a token-powered tool that is part of a blockchain integrated into its electronic trading platform for swaps and other derivatives.
“The Clear Markets Crypto Derivatives Credit Risk Mitigation System is an exceptional use of blockchain technology. This clever innovation reduces the risk of crypto derivatives trading, which is expanding rapidly across the globe,” said Kazutoshi Shidehara, CEO of Archinode, the Singapore-based crypto fund that is one of the potential users of the product.
The project creates a precedent as the first use of a distributed ledger for the purpose, and the first such system to be integrated with a crypto derivatives trading platform. By reducing the risk of derivatives trading, it has the potential to reduce capital costs for crypto traders, an important advance for the crypto ecosystem.
Clear Markets is part-owned by both SBI Holdings, Inc. and the Nikkei group’s QUICK Corp, two leading companies in Japan’s financial information and technology sector. Nonetheless, the Clarity token will be on offer in Japan only after the authorities there approve it for sale.
“It was to support remarkable projects like this that we invested in Clear Markets and R3, and proudly support them today,” said Mamoru Fujimoto, Executive Officer and Head of Blockchain Promotion Dept., SBI Holdings, Inc.
Eligible participants interested in the Clarity token sale can register for a free account on Liquid at https://liquid.com, with no minimum deposit fees.
For more information about the Clarity token sale, please visit: https://app.liquid.com/ieo-market/CLRX
Founded in 2014, we are a leading global fintech company that operates Liquid.com (“Liquid”), a global cryptocurrency platform that provides trading, exchange, and next generation financial services powered by blockchain technology. With offices in Japan, Singapore and Vietnam, Liquid combines a strong network of local partners with extensive team experience in banking and financial products to deliver best in class financial services for its customers.
Today, Liquid is the world’s largest crypto-fiat platform by transaction volume, regulated in Japan. Powered by the World book, which provides customers enhanced price matching and deeper liquidity for various fiat and cryptocurrency pairs, Liquid offers trading services for major cryptocurrencies such as Bitcoin and Ethereum against fiat currency pairs in Japanese yen, US, Singapore and Australian dollar, and Euro.
As part of the Liquid roadmap, we are developing a range of new features and services including a distributed ledger, which will allow other fintech companies to build their products and services on distributed ledger technology.
In the span of two years:
- September 2017 – We became the first global cryptocurrency exchange to be officially licensed by the Japan Financial Services Agency.
- October 2017 – We became the first licensed global cryptocurrency exchange in Japan to launch a global Initial Coin Offering (ICO), also known as the Qash Token Sale.
- November 2017 – We successfully raised 350m Qash (the equivalent of 350K ETH or ~USD105m) in an oversubscribed ICO, to fund the growth of the Liquid platform.
- September 2018 – Our historical trading platforms, Quoinex and Qryptos, were merged and relaunched as Liquid.
- July 2018 – Our trading platforms exceeded USD50 billion in transaction volume in the past 12 months.
More than just a cryptocurrency exchange, Liquid offers powerful trading features which include:
- Margin trading of up to 25x leverage for select crypto-fiat pairings
- A sophisticated user dashboard for pro traders
- Secure cold wallet storage and KYC compliance for individual and corporate customers
- Proprietary World Book technology that matches orders across global order books, providing access to liquidity pools sourced by a unified platform, Liquid.com
Corporate Website: https://quoine.com
Liquid Website: https://liquid.com
Liquid Blog: https://blog.liquid.com/
Telegram Community: https://t.me/Quoine
ABOUT CLEAR MARKETS
Clear Markets is a leading innovator, developer, and operator of electronic marketplaces and trading technologies. The company has extensive experience building and operating electronic trading systems for complex fixed income and credit derivatives in the world’s major financial centers.
Clear Markets is an affiliate of SBI Group and QUICK Corp., (QUICK) a subsidiary of Japan’s Nikkei, Inc. With over 50,000 users, QUICK operates the largest electronic financial information distribution system in Japan. Clear Markets electronic trading systems are being deployed to all of QUICK’s clients in Japan across QUICK’s highly secure and dedicated electronic network.
The Clear Markets management team includes respected pioneers in the development of the interest rate swap market. Their work has earned them a thorough understanding of legal and regulatory history for swaps policy and the transition from voice to electronic trading.
Clear Markets has offices in Tokyo, New York, London, and Charlotte, North Carolina.