GokuMarket is an open-source cryptocurrency marketplace located in Hong Kong, China. The platform was founded in 2019. GokuMarket crypto exchange enables users to trade digital assets. The platform started as a centralized exchange (CEX) but later migrated to a decentralized exchange (DEX) model.
GokuMarket is KYC compliant, requiring its users to verify their identity. The crypto exchange is available in several countries across Europe, Asia, and Africa. GokuMarket crypto exchange services are restricted in some regions such as the USA, Croatia, the Crimea region, Iraq, Iran, Libya, Zimbabwe, the Democratic Republic of Congo, Cuba, Kosovo, Lebanon, Moldova, South Sudan, Sudan, Somali, Venezuela, Syria, and Yemen.
The protocol is available in Android and iOS mobile apps. The platform is also accessible through the web.
Markets
The platform supports buying, selling, and swapping digital assets. GokuMarket spot trading enables users to instantly buy and sell selling crypto without leverage. The exchange supports 76 digital currencies (the list grows as more crypto are added). GokuMarket trading pairs include crypto-fiat conversion, with Euro as the fiat currency. Users can also trade and swap the supported currencies with Tether (USDT).
GokuMarket crypto exchange launched a native token called GokuMarket Credit (GMC) on September 2, 2020. GMC is a BEP-20 utility token that powers the GokuMarket ecosystem with various functionalities and utilities on both the CEX and DEX financial services. The utilities include staking rewards, making payments, earning cashback, trading with other cryptos, paying trading fees, and supporting the governance of the ecosystem. GMC has a 5 billion token supply. Fixed supply prevents the mining of excess tokens, protecting the GokuMarket crypto price.
GokuMarket peer-to-peer trading is facilitated by the AI-based smart escrow system, which matches orders and resolves disputes.
In addition, the GokuMarket crypto exchange provides customers with a curated selection of algorithmic trading bots. The bots work over market cycles, minimizing risk and providing consistent returns. Users can diversify across multiple bots to spread their risks.
GokuMarket is built on the Binance Smart Chain, which attracts lower transaction fees compared to Bitcoin and Ethereum-based systems.
GokuMarket exchange fees are dependent on the user’s position on the G-rank. The more active a user is, the higher the G-rank, and the lower the fee becomes. There are 11 ranks, from G0 to G10. GokuMarket crypto fees decrease by 5% for every rising G-rank. The trading fee ranges from 0.25% for G0 to 0.15% for G10.
The withdrawal fees at the GokuMarket cryptocurrency exchange vary with the token and the price that each blockchain charges. Besides, the platform does not charge deposit fees.
Other Services
Besides the token exchanging service, GokuMarket protocol has created a completely DAO-based ecosystem comprising of Farm, Pool, Swap, Lottery, Prediction, NFT marketplace, and Metaverse Guild.
Moreover, GokuMarket offers staking services that enable users to earn a decent return for staking their idle digital assets.
Also, GokuMarket offers a wallet service that enables users to store, send, and receive their digital assets.
Lastly, GokuMarket offers a token Launchpad, GokuMarket IEO. The Launchpad supports upcoming projects to have a successful launch by offering a safe and secure launching platform.
About the Company
GokuMarket was launched in 2019 by a team including Mohammed Fardan (co-founder). The company is headquartered in Sheung Wan, Hong Kong.
The company first launched as a traditional exchange, equipped with simple crypto wallets. The project has quickly grown into a large community with over one million users. It turned into a decentralized autonomous organization (DAO). The goal of GokuMarket is to create a 100% community-led protocol. GokuMarket cryptocurrency exchange began transforming to safeguard the interest of the community, eliminating intermediaries or centralized management to avoid undesirable control. In April 2022, GokuMarket announced their long-planned migration from CEX to the DAO-based DEX.
However, due to the unfortunate market conditions of 2022, GokuMarket faced some serious issues. In order to deal with these issues and avoid bankruptcy, GokuMarket made an acquisition agreement with ByteX, an international licensed exchange based in Canada.
The current GokuMarket trade volume is displayed above. GokuMarket volume hit a record high of $520.7 million on May 11, 2022.
GokuMarket co-founder Mohammed Fardan has in-depth knowledge and experience in the tech field. He co-founded Aimedis, a blockchain-based hospital, and healthcare-based product. Fardan also co-founded AirSelfie, Inc., a company that produces a pocket-size flying camera that connects with the user's phones, enabling them to high-quality photos from the sky. Besides that, he served as a managing director in the two companies.
