Sugar Exchange (SGR) – An Interesting New Cryptocurrency Exchange
This article was originally published by Sludefeed on January 2nd, 2018.
As we move into 2018, there is no question that the barrier to entry for buying and selling cryptocurrencies is being drastically reduced. With the mainstream adoption of the popular mobile platform Coinbase, we now look to other up-and-coming trading platforms that will revolutionize the field.
We recently came across a new and exciting platform called Sugar Exchange (SGR) that we believe shows great promise, and we wanted to take this opportunity to break down its key features and selling points.
The platform, which is due out in May 2018, has a number of interesting features that should enable the new exchange to truly make a name for itself. Here are the features as described in the Sugar Exchange whitepaper:
- Accounting: Deployable software that allows you to track all of your trades, gains/losses, and keep a detailed record of your activity for tax season.
- Video Tutorials: Free video tutorials to guide traders of all expertise levels.
- AI Trade Recommendations: Big data analysis on price trends for trading recommendations
- The First Crypto Venture Exchange: Crowd-sourcing startup fundraising with cryptocurrencies, essentially an ICO platform feature.
- Trading Bot: Using their proprietary algorithm, ‘Sugar Bots’ will perform your buying and selling for you at the ideal time for enhanced return on investment.
Overall, these are some fantastic features that would make for a full-fledged exchange service that currently does not exist in the cryptocurrency world. We are interested to see how the use of big data and machine learning will build into their platform.
It is nice to note that the Feb 2018 deadline for their whitepaper release was achieved in December:
With any cryptocurrency platform, it is important to understand exactly why they decided to issue a token to function within its system. Here is the reasoning for Sugar tokens, straight from the team:
Sugar tokens (SGRs) can be used to pay trading fees and will provide users a discount as compared to paying with Bitcoin (BTC) or Ether (ETH). Sugar tokens will provide this same discount to users when accessing our innovative services on the exchange, including: accounting, Trading Bots, and artificial intelligence (AI) trade recommendations.
The token was distributed via two airdrops, leading us to believe the team has alternative funding streams or are working on this project for low pay. Some members of the community have staged their complaints that the second airdrop had issues with payout, but we find these issues non-indicative of the platform’s potential (regardless of what angry forum dwellers write).
Here are the details of the token release:
The token currently trades at around $0.09 with a market cap of $300K based on the circulating supply of 3,500,000 SGR. The total supply is believed to be around 80,000,000 SGR.
According to their fairly active telegram, we should expect to see an updated whitepaper release in the coming weeks that will include the names of key team members and advisors. It is important to note that anonymity of developers is a common practice for groups developing crypto-exchanges, as this reduces the likelihood of breach attempts targeting singular individuals.
We definitely see Sugar Exchange making a significant impact on the exchange market if the team properly executes their proposed ideas detailed in their whitepaper. We believe the inherent value of their token should increase from its relatively low capitalization, making SGR an interesting opportunity.Back