Making first steps on crypto market reminds walking through the dark forest in middle ages. In a better case, it will costs some grey hairs appearing, in the worst losing a wallet or teethes. A guide, who would show the right way, to whom you can trust, would make this trip much easier and much safer. Let me introduce you such a guide: MetaMorph.
MetaMorph is an online wallet, decentralized exchange and trading platform for newbie or seasoned traders. It is much easier to use – due to the user-friendly interface, has some trading tips and what is the most important, thanks to decentralized structure it is much safer to use than other stocks.
What makes this exchange is the “atomic swap” called by the team “Morph” – so the ability for two users to exchange cryptocurrency from different blockchains in a completely trustless manner. How does it work? Each user agrees to terms before the transaction. Then both use private keys to sign a copy of the transaction itself. The exchange is performed instantly, with low transaction fees and removes the need for a centralized party or exchange service to complete the transfer on behalf of the buyer/seller.
I already described some of the services MetaMorph offers, but as their overture is very diversified, it is required to put all the information in order. Below, you can see all the services and privileges the MetaMorph project proposes:
Exchange: easy to use, the decentralized P2P platform with low fees.
Wallet: safe, cryptocurrency wallet with backup seed words.
Application: MetaMorph is preparing the mobile app for Android and IOS.
Debit card (limited edition). Cards will be issued for the Pre-sale members.
Trading platform with the investment portfolio: charts and graphs helping to understand owned digital assets.
Decentralized vs. Centralized exchange
The main difference between this both system lays on their security level. In the centralized exchange, all funds and information are gathered in one place, what makes this system more fragile and prone to the hacking attacks. It is enough the mention Coincheck – a stock from where NEEM coins worth 500 million USD have been stolen. Besides, the decentralized stock has the server downtime and it is not anonymous. Although, what allowed for clients attraction is the simplicity in handling.
On decentralized exchange you have the control over your funds, trading can be done anonymously, the system is hacker-resistant and there are no technical or accidental breaks.
MetaMorph promises to be somewhere in between this schemes. It has decentralized, p2p structure, although easy to use platform supposed to attract clients from the centralized stocks also.
Comparison to the other exchanges
MetaMorph team prepared some functionality comparison between the present on the crypto market major exchanges (Shapeshift, Changelly, Exodus) and MetaMorph. Details you can see below:
Token and ICO
Token belonging to the MetaMorph project has a ticker METM. There are 20 000 000 METM tokens worth 2 764 ETH available for the Pre-sale. The token sale will last just 6 days more so if you’ll decide to obtain METM, better hurry up. Contributions can be made with Ethereum, Bitcoin and Waves.
Main Token Sale was canceled due to the self-funding. Tokens distribution MetaMorhp presented on their website seems to be a bit out of date - it includes tokens for the token sale. Very likely the recalculation will be soon announced.
As far as I know, the MetaMorph achieved their soft-cap. Let’s have a look at the budget allocation.
47% will be spent on the IT infrastructure what makes sense on the actual project stage development
29% goes on the employment (it looks like the MetaMorph has serious hiring plans)
18% goes on branding and marketing
4% is planned for legal questions resolving
2% goes for the bounty
The MetaMorph team seems to be well balanced. It consists the specialist from different fields like finance, marketing and of curse how needed IT guys. Just part of the team is present in this picture. For the full list check the MetaMorph website: https://metamorph.pro/#team
The project has also an advisory board consisting for example from the Bitcoin Official Group founder. Full list below, links to their LinkedIn profiles you can find on the MM website.
Obviously, the self-funding was a decision made in the project interest. Despite wasting resources on the token sale, the team can focus on the platform and services development. For today, the exchange has just limited functionality, although by the end of this year alpha version will be released. At the beginning of 2019 beta version and desktop app will see the light of day. Shortly after the mobile app supposed to be released by the end of 2019, the mass adoption process will begin.
The project attracted some media attention. It has been mentioned in Yahoo Finance and Reuters. Besides, some crypto orientated websites described it.
MetaMorph marketing department managed to gather a pretty big community around this project.
8244 followers has MetaMorph Twitter profile.
6907 Facebook users follow the MetaMorph profile.
And finally, 9581 members has their Telegram channel.
PROs and CONs
- Starting from the highlights, PROs:
- The platform design and functionality are impressive
- The team seems to be experienced enough to handle such a project
- The project collected pretty big community, according to the official data 10 k of people are METM holders
- The smart decision about the self-funding
- Exchange demo
- For today the project is in the early stage of development, there is still a long way to go until the platform and apps will be finished. Although, I have to admit that it gives a better investing possibility due to the low token price.
- Not enough information about the token distribution – graphs available on the website are out of date.
- Referral link containing full email address? Guys, seriously? What about the data protection?
If you would like to learn more about the MetaMorph project check the links below: