As detailed in our top crypto projects going public in April, we’re seeing a lot of exuberance in the ecosystem. Not only are we seeing a slew of projects that are being built, but many projects stand out for their innovativeness. That brings us to Cryptonovae, a trading platform that aims to bring user-friendly standards for trading crypto. And that’s not it, it also has an ERC-20 based utility token in the form of YAE. Let’s understand the Cryptonovae better and why it deserves your attention too.
Overview
Being hailed as an all-in-one trading ecosystem, Cryptonovae lets you manage your digital assets across multiple exchanges from a single place. And the good thing is that these exchanges could be centralized or decentralized too.
Helping traders further are its advanced features such as charting capabilities, trade management, and more. Users can also make use of automated trading systems, trading tools, and more, which are available through its integrated marketplace.
Tying it all together is a utility token YAE for the platform.
The Team
The team has some notable names such as:
Mathieu SICSIC – CEO
Having years of experience, first as an investment banker, and then as a consultant in the blockchain ecosystem before having a crypto fund of his own, Matieu is a familiar name and face in this space.
Jean Dussteour – CFO
He has been involved with Cryptonovae since Jan 2020, and is a Co-Managing Partner as well as CFO.
Cyrille Saulnier – CTO
Having a rich experience as an R&D engineer, Cyrille is the CTO for the project.
Susanne Krone – CMO
After being self-employed for almost 17 years, Susanne is working at Cryptonovae as its CMO.
Other team members include:
- Lorenzo Li – Community Liaison, Asia
- Baptiste Lac – Token Architect
- Steve Nabil Lauritsen – Advisor
- Xenis Fenaux – Advisor
Tokenomics
Cryptonovae’s key pillar is its YAE token which has been thoughtfully designed. Its key features are:
Burning
1/3rd of the free offer revenue is burned weekly, which results in increasing the cost due to the scarcity.
Staking
With staking, users get the ability to unlock features along with getting a part of the repurchased tokens.
Affiliation program
To spur the adoption of the Cryptonovae platform, it also has an affiliate program, where users will receive YAE tokens on referring others.
Rewards
By participating in the trading platform and doing trades, users will also receive various rewards.
Loyalty Program TAP
Affiliated traders would get more awards depending upon how much YAE tokens they are staking.
All of this is apart from the fact that users will get discounts when they use YAE tokens for subscriptions and buying products on its marketplace.
Use case
If you’ve been following about the project till now, it’s fairly self-explanatory. Cryptonovae aims to be one-stop platform for all things trading. It manages to do so by integrating with various DEXs or CEXs to enable trading of more than 6,000 tokens.
This means, instead of figuring out multiple exchanges and login details, you can do all of your trading from a single place. Fuelling the entire project is a YAE utility token which isn’t only used for trading, but also for rewarding traders along with the other benefits, mentioned above.
Ecosystem
There’s no denying that Cryptonovae is an ambitious project, and hence it connects to multiple trading platforms, including:
- Upbit
- Bitfinix
- Kraken
- Binance
- Uniswap
- Hitbtc
- Bitmex
- Bittrex
- Bitthumb
- Bitstamp
- Huobi
- Poloniex
- FTX
- Oneinch
Roadmap
The project has been on track vis a vis its roadmap. In its pre-seed and seed phase in Q2 2020 and Q4 2020, Cryptonovae has been able to launch its proof of concept with Binance and Kraken integration, the launch of the trading pad, and full charting features along with expanding its team of marketing.
It released its beta version along with starting the token sale in the first quarter of this year. The go-to-market version of the exchange will come with Binance, Bitfinex, Kraken, Uniswap and Ftx.
Initial Thoughts
With more and more institutions coming into the cryptocurrency space, it’s only a matter of time before the need for advanced trading platforms arises. Cryptonovae seems well set to capture advanced traders by offering an all-in-one platform. Add to it the fact that it has a proper revenue strategy with the YAE token being a centerpiece.