Layer 1 Project “SARDIS” Launches the First Crypto-Based Forex System
Delaware, US, 26th September 2022, ZEXPRWIRE, Sardis is a layer 1 blockchain ecosystem that is launching the world’s first Crypto-based FOREX for fiat currencies and derivatives trading platform. The app takes only three seconds for a transaction to be finalized, with crypto security and flexibility. Users can convert their crypto assets to real-world currency at any time.
The Sardis ecosystem includes a social payments app, FOREX, and a derivatives market with global almost instant money transfers for all major FIAT currencies. With these aspects, Sardis is a first in the industry in terms of layer 1/web 3 projects.
Sardis Network (Sardis) is an energy-saving and incredibly efficient multi-chain crypto ecosystem that aims of expanding the crypto landscape in new ways. The network scales horizontally with every function and asset running on its own blockchain, compatible with smart contracts and high-performance transactions.
Sardis aims to solve daily-life payments and international fund transfers through a social payment application.
How Does it Work?
Sardis is a horizontally scaled blockchain-based fintech ecosystem. It is linked by a two-scale hPOS chain with smart contract features. The whole process takes no more than three seconds.
Dedicated Sardis stablecoin blockchains will be created for each major FIAT currency. This means that USD Sardis stablecoin will have its own blockchain as well as EUR, GBP, RUB, AED, TRY, and so on. When a certain stablecoin is minted, Sardis will open an escrow account with a cooperating bank in the country of origin where the FIAT currency is located to maintain a 1:1 ratio between the stablecoin and the FIAT at which it is pegged. Sardis Stablecoin Exchange provides real-time P2P FX service based on blockchain. This will provide unlimited horizontal scaling supporting potentially millions of transactions every second. Each wallet account in these stablecoin blockchains will have its own private ledger blockchain. Thus, a transaction between two parties will almost instantly write the corresponding plus to the receiving account, while the sending account will be a minus. Key Facts About The Platform Supports Multiple Currencies (US Dollars, Euros, Yen, etc.).In addition, the Forex trading platform allows users to keep their money in the currency of their choice, to make gains or stop losses by switching between different currencies.
Trading Without Account Number
Users can easily transfer funds without the recipient’s account number. Transfer to a mobile phone number or an e-mail address can be finalized in seconds using the Sardis mobile phone application. In addition, the platform will allow users to switch between multiple wallets and exchange cryptocurrencies among themselves. Currently, anyone can join Sardis’s beta testing and subsequent phases for free.
KYC regulations are a crucial component of the Sardis Network to ensure the security of the network and assets. The platform supports the flexibility of the Ethereum Virtual Machine and smart contracts, allowing developers to reduce development and migration costs. Also, Sardis uses a Meta-transaction function for gas fee discounts. It reduces the cost of developers and users on the chain. Apart from that, the app also performs cross-chain asset transfers to optimize the users’ experience.
Native Token SRDS
SRDS will be used to pay expenses on both the Forex platform and the Social Payment App. SRDS holders allocate their money to validators running nodes for network functionality. SRDS will be used not only for dApps, NFTs, and smart contract fees but also as rewards for validators and delegators who stake their coins.
With a massive interest from venture capital firms, Sardis successfully completed the Pre-Sale phase of fundraising in less than 24 hours and started offering only a limited amount of SRDS coins through Private and Public sales.
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