PARALA TRADE CORPORATION (hereinafter referred to as "the company") is a company incorporated Marshall Islands under the law of Marshall Islands, and operates the website on https://icoinbay.com 。iCoinbay represents a new generation of digital asset exchanges, using joint development, joint success, and joint responsibility with the community to establish a stable, healthy trading platform.
We feel that the existence of centralized exchanges in our current world is unavoidable, but the degree of centralization should be minimized. We strive to address the disadvantages if centralization by taking things in a more decentralized direction. Additionally, we plan to use decentralized mechanisms to maintain healthy, orderly development of the community and dependable digital asset trading service.
Besides using incentive mechanisms based on the concept of a token economy, a series of measures will be introduced to guarantee the stability of tokens and to ensure the long-term health, stability, and transparency of the platform’s service.
Traditional exchanges are highly centralized when it comes to storing money and managing the community. This leads to the exchanges being prime targets for thieves and hackers, or victims of loopholes in the platform, moral failings, etc. They have been used as an instrument to take investors’ gains, leading to countless investors who have lost a portion or all of their funds, and causing the market to slowly start distrusting centralized exchanges. At the root of all of this is the over-centralized nature of traditional exchanges. The decision-making is not derived from the perspective of the majority of customers, and the construction and development of these exchanges often ignore the perspective of different “projects” (coins and the teams and communities behind them).
Recently, there are many innovative exchanges that have hit the market, with many creative attempts to solve the problems of centralization using the decentralized nature of blockchain. However, a considerable portion of these are just different manifestations of a centralized exchange, and the issuance of tokens has no basis in the theories of a token economy.
It may be that ideas such as high rebates provide short-term benefits to investors, but in the long run, they are a recipe for disaster for both platforms and the broader community.
iCoinbay plans to utilize the real applications of the principles and ideas of a token economy, along with asset transparency, regular information disclosure, and community-based management, to find the perfect match between technology, tokens, and community.
iCoinbay has adopted advanced technologies such as GSLB, distributed server clusters, distributed storage, and a high-speed memory-based trading engine all backed up in multiple machines, cold storage locations, and hot wallets with offline private keys. Our safe, stable and reliable digital asset trading services are delivered to our customers via web interface and mobile app. To better serve every customer, we are continuously listening to their kind suggestions and requests to improve our products and services. We will never stop to innovate and improve on our customer experience.