The Tangerine project launched a cryptocurrency exchange controlled by its users. Exchange token holders touch dividends, there are no limitations on withdrawal of funds from the exchange accounts and no need to undergo a long verification process – and this list of advantages of the new exchange platform is far from exhaustive.

A new and promising player has emerged on the decentralised exchange market, the Tangerine exchange platform that launched trade in December 2017. Currently, twelve pairs of currencies are available for trade: Ethereum, Litecoin, Dash and Tangerine (the internal token of the exchange) can be traded for Bitcoin; Bitcoin, Litecoin, Dash and Tangerine can be traded for US Dollar; Tangerine and Litecoin can be traded for Ethereum; Bitcoin can be traded for Russian Ruble.

To top-up the balance with fiat money, Tangerine users can use payment systems Perfect Money and Yandex.Money.

“The TNG token is the token issued by the Tangerine exchange, allowing to participate in the development of the platform and in managing it. In total, 1 million TNG tokens have been issued. Those tokens were distributed during the Tangerine ICO”, says the description of the exchange.

During the first three months, the trading fee will amount to zero for any currency pair and any volumes. Starting from the fourth month, it will amount to 0.05%, and in the seventh month, it will be raised to 0.1%. TNG token owners will get one more bonus from the exchange platform: 100% of the revenue of the exchange will be distributed among the token holders as dividends. The next dividend payment will already take place in March 2018.

The Tangerine security system protects users’ data with the help of cloud storages and reserve centres located in five places worldwide. To protect the users’ accounts, two-factor authentication is employed. The exchange also has an API allowing to connect trading bots.

Unlike many other cryptocurrency exchanges, Tangerine does not require its users to undergo verification and does not have any limitations on withdrawal of funds from the exchange accounts.

Another feature that distinguishes Tangerine from the exchange platforms launched earlier is the fact that key decisions on Tangerine’s development will be taken in the future by vote, in which every holder of more then 10 Tangerine tokens will be entitled to participate. Such decisions include introduction of new coins to the exchange, enhancing the capabilities, modification of existing settings including ways to top-up the accounts, massive fund transfers from cold wallets. Indeed, without the authorisation of more than 35% TNG token holders the exchange cannot transfer funds from the cold wallets. Moreover, already during the ICO the maximum volume of Tangerine token purchase was limited: one investor cannot hold more than 3% of all tokens issued.

The Tangerine exchange was created by the mathematician Pyotr Orlov and developers Sergey Tsvetkov,  Kristina Zhuravleva, Ilya Karetnikov and others. In September 2017, Tangerine finished its crowdsale, having managed to raise $1.3 million for the first stage of the project development.

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