White paper

Abstract

AnyCryptoStock is a decentralized, cross-chain exchange that allows for fast and secure transactions with Crypto Stocks. 

Crypto Stocks are ERC20 tokens that represent the shares of the leading publicly traded companies. Crypto Stocks are listed on AnyCryptoStock in pairs with the USxD stablecoin. USxD is a cryptocurrency pegged to the US dollar, which means its value is always:

1 USxD = 1 USD

To buy Crypto Stocks users must:

  1. create an account,
  2. exchange Bitcoin and Ethereum for USxD, 
  3. once USxD is available they can start trading Crypto Stocks. 

Transactions taking place on AnyCryptoStock are recorded on the ByteTrade blockchain, which through special consensus mechanisms settles in & out transactions. 

AnyCryptoStock, due to the fact that it is decentralized, does not store personal user data such as passwords, private keys or seeds. 

The user is solely responsible for their funds and operations on AnyCryptoStock. 

What is AnyCryptoStock

What we do

AnyCryptoStock is a decentralized cross-chain exchange of specific derivative products: crypto stocks. 

Derivatives are investment products whose value depends, or rather, derives from the value of another asset called the underlying. In the case of Crypto Stocks, the underlying products are the shares of major companies listed on the stock markets, which are in the form of ERC20 tokens, issued on the Ethereum blockchain. Therefore, the value of each Crypto Stock is related (but not necessarily identical), to the corresponding stock price on the stock markets. For example, the value of Crypto Stock xAAPL will be determined (but not necessarily identical) to the value of Apple’s (AAPL) stock listed on the Nasdaq.

AnyCryptoStock allows trading CryptoStocks in pairs with USxD, an innovative stablecoin pegged to the US dollar. USxD is an ERC20 token as well, however its value is set according to the following formula: 1 USxD = 1 USD.

Why we do it

AnyCryptoStock was created to connect traditional finance to the cryptocurrency market, in an alternative and inclusive way. Until now, financial markets and crypto markets have never spoken to each other, remaining distinct and distant worlds. 

AnyCryptoStock wants to bring together the potential of both these markets in one place, creating an investment product that leverages the importance of the largest publicly traded companies and the power and features of blockchain and cryptocurrencies. 

Our Goal

AnyCryptoStock wants to create an investment environment that is accessible to all, with investments based on fast, secure, decentralized and private transactions. 

There are no intermediaries: there are no brokers and advisors, users are solely responsible for their transactions, their shares, their portfolio and the credentials to access them.

The team that developed AnyCryptoStock believes in the freedom of money built on the trustless and decentralized philosophy of blockchain.

As such, the system allows for fast transactions, even large volume transactions, with minimal commission costs.

How it works

A decentralized system

AnyCryptoStock is a decentralized exchange. This means that there is no central entity that regulates the operation of the platform, records transactions, and stores data. AnyCryptoStock does not store any of its users’ data, passwords, seeds, or private keys, so it cannot recover them if the user loses them. Every transaction is recorded on the ByteTrade blockchain, which is governed by two main consensus mechanisms: DRPOS (Delegated-Revenue-POS) and CBP (Consensus-before-Packing).

AnyCryptoStock allows the exchange and custody of assets inside the proprietary wallet, which is 100% secure. Only the users have the password and the private keys of their wallet, so they are the only ones who can access it. 

What is a crypto stock

Crypto Stocks are ERC20 tokens that represent the shares of leading publicly traded companies. Being derivative products, the value of crypto stocks is linked to the underlying, which is represented by the shares listed on the stock market.  

Crypto Stocks listed on the exchange at the time of launch are issued by the Crypto Stock Foundation. AnyCryptoStock reserves the right to modify the list of Crypto Stocks present by possibly adding new ones if they are released by the Foundation, or by eliminating those that should encounter low liquidity (by converting the equivalent value to USxD). 

Crypto Stocks are listed in pairs with USxD, the stablecoin created by the Crypto Stock Foundation, pegged to the US dollar. USxD is an ERC20 token as well. Its value is fixed and is not affected by the volatility typical of the cryptocurrency market, so 1 USxD will always be equivalent to 1 USD. 

In order to trade Crypto Stocks, the user must have USxD in their wallet. USxD can be purchased in pairs with Bitcoin and Ethereum, so users must first deposit the desired amount of Bitcoin or Ethereum, and once USxD is obtained they can begin their trading operations. The deposited Bitcoin are locked in a multi-signature address on the Bitcoin blockchain. Deposited Ethereum are locked in a smart contract on the Ethereum blockchain. 

Users can perform the reverse operation at any time, converting their Crypto Stocks to USxD or their USxD to Bitcoin and Ethereum, withdrawing their funds and exiting the ecosystem. 

The wallet

AnyCryptoStock has a proprietary wallet that is created on the ByteTrade blockchain. Users, by opening an account will generate their own wallet, and at the time of creation will set a username, password and receive a 12-word seed. The user is required to personally safeguard this data and avoid sharing and losing the credentials.

AnyCryptoStock, being decentralized, does not store any of this information and will never be able to recover it in case users lose it. 

What can you do with a Crypto Stock

Crypto Stocks are investment instruments that users can store in the AnyCryptoStock wallet or transfer to their personal wallet outside of AnyCryptoStock by performing a regular withdrawal transaction. CryptoStocks can be held in any wallet that supports the ERC20 standard. 

As the value of the underlying stock increases, the value of the corresponding Crypto Stock can also increase (in the same way, the price can also decrease).

Alternatively, the user can choose to engage in arbitrage. This is a trading technique that takes advantage of the price difference between the stock and the Crypto Stock. The price of the Crypto Stock in fact is determined by a mechanism of oracles that report offchain data within the AnyCryptoStock exchange. The user can perform arbitrage by buying a Crypto Stock and reselling it at a higher price, earning from the price difference, until the price eventually aligns with the corresponding stock.

Advantages

  1. Fractional buying. Crypto Stocks are an instrument available to everyone. Unlike common stocks, Crypto Stocks are ERC20 tokens that allow fractional buying. This means that if the user wants to invest in Amazon’s Crypto Stock (xAMZN) and xAMZN has a price of 3,170 USxD, the user can also invest only ~3 USxD and buy 0.001 xAMZN. Fractional buying reflects AnyCryptoStock’s intention to be an exchange open to all investors, professional traders and small savers. 
  2. Decentralization. No intermediaries and no centralized entities, users are solely responsible for their transactions, their account, their seed and their passwords. AnyCryptoStock is not a bank and does not want to be one. 
  3. Speed. Transactions that occur on AnyCryptoStock are governed by consensus mechanisms that take seconds. In particular, the DRPOS (Delegated-Revenue-POS) and CBP (Consensus before Packing) mechanisms solve some typical problems of the blockchain such as the speed of block confirmation. The CBP protocol does not require block confirmation, and this allows increasing the network speed by producing 1 block per second. Each transaction takes a maximum of three seconds to be confirmed. 
  4. Ease of use. You don’t have to be an expert in blockchain technology to be able to use AnyCryptoStock. Simply deposit Bitcoin and Ethereum in exchange for USxD to start trading. These transactions are facilitated by the PITIO mechanism that generates a deposit/withdrawal address for each user, procures the necessary funds for each transaction within a dedicated address and monitors the transition of assets from the transit address, transferring the necessary funds accordingly. Once the funds required to complete the transactions have arrived at the transit address, PITIO begins the cross-chain process to transfer the assets to the destination smart contract. PITIO relieves the user from having to perform these operations manually, thus improving the overall user experience by simplifying operations and ensuring maximum security through consensus rules.

Transactions and fees  

Transactions on AnyCryptoStock are recorded on the ByteTrade blockchain and can be monitored by the user on their personal page. To record each transaction on the blockchain, each user is provided with BTT tokens. BTT is the native token of the ByteTrade blockchain.

Each transaction requires 0.0003 BTT to be recorded on the blockchain. The AnyCryptoStock wallet automatically reloads the BTT account for the recording of transactions.

Fees for volumes generated

Fees related to trading operations are instead calculated monthly and vary based on general trading volumes (maker and taker) and are defined as follows:

  • Transactions up to 10,000 USxD, 0.8% fee
  • Transactions from 10.000.01 USxD to 100.000,00 USxD, 0,4% fee;
  • Transactions from 100,000.01 USxD up to 1 million USxD, 0.2% fee;
  • Transactions from 1 million USxD up to 10 million USxD, 0.15% fee
  • Transactions above 10 million USxD, 0.10% fee. 

Fee calculation resets and restarts every month. 

Examples:

January 2021: transaction volume of 50,000 USxD, accumulated in 3 trades conducted in the following chronological order:

  • 7,000 USxD: 0.8% fee equal to $56;
  • 8,000 USxD: 0.4% fee equal to $32;
  • 35,000 USxD: 0.4% fee equal to $140.

Why was the 0.4% fee applied in the second transaction and not 0.8%? 

Because with the second transaction the monthly volume exceeded 10,000 USxD, therefore the second rate of 0.4% applies. 

February 2021: transaction volume of 500,000 USxD, accumulated in 4 transactions carried out in the following chronological order:

  • 70,000 USxD: 0.4% fee equal to 280 USxD;
  • 5,000 USxD: 0.4% fee equal to 20 USxD;
  • 125,000 USxD: 0.2% fee equal to 250 USxD
  • 300.000 USxD: 0,2% fee equal to 600 USxD

Why was the 0.4% fee applied to the second transaction of 5,000 USxD and not the 0.8% fee? 

Because with the first transaction the monthly volume of 10,000 USxD has already been exceeded, up to which a fee of 0.8% is applied. In the third transaction of 125,000 USxD the monthly volume of 100,000 USxD is exceeded, therefore a 0.2% fee is applied.

March 2021: transaction volume of 1,400,000 USxD accumulated in 2 transactions conducted in the following chronological order:

  • 1,100,000 USxD: 0.15% fee equal to 1,650 USxD
  • 300,000 USxD: 0.15% fee equal to 450 USxD

Why was the 0.15% fee applied to the second transaction of 300,000 USxD instead of 0.2%? 

Because the first transaction of 1,100,000 USxD already exceeded the monthly volume of 1,000,000 USxD required to apply the 0.15% fee.

Security

How we protect your account and funds

Being a decentralized exchange, AnyCryptoStock does not store users’ funds on its own wallet. The funds are at all times the property and responsibility of the users themselves.

This implies that the funds are safe at all times, unless the user himself shares his account and wallet credentials with other people. Under no circumstances is AnyCryptoStock responsible for the loss of funds caused by the user’s negligent behaviour.

How we protect your data

AnyCryptoStock protects your data by simply not asking for it. When opening an account, the user has to set their username, password, seed and may have to enter their email to get a verification code before making deposits, but AnyCryptoStock does not collect this data, so it is not able to store it, let alone give it away. 

You are solely responsible for maintaining, protecting and safeguarding any keys, passwords, user IDs, seeds and any other credentials you enter on the AnyCryptoStock website. In the event of loss of such data, AnyCryptoStock will not be able to recover it. 

No KYC

AnyCryptoStock, since it is a decentralized exchange, does not require any KYC (Know Your Customer) procedure from the user. 

The AnyCryptoStock team and developers are committed to offering a secure and reliable service. AnyCryptoStock reserves the right to take legal action in cooperation with the appropriate authorities against anyone who misuses the exchange for activities such as money laundering, financing of illegal activities or terrorism. 

Regulation

Where are we

AnyCryptoStock is owned by AnyCrypto Holding Corp based in Panama (address: Parque Lefevre, Reparto Nuevo Panama, Calle Primera, #157).

License

AnyCryptoStock strives to be a global exchange. However, some legislations do not allow the activities promoted by AnyCryptoStock. At the time of writing this Whitepaper, the prohibited legislations are: USA, Belarus, Central African Republic, Democratic Republic of Congo, Democratic People’s Republic of Korea, the Ukrainian region of Crimea, Croatia, Cuba, Iran, Iraq, Kosovo, Lebanon, Libya, Moldova, Panama, Somalia, Sudan, South Sudan, Syria, Venezuela, Yemen and Zimbabwe.

AnyCryptoStock is committed to obtaining the necessary licenses to operate in these legislations as well, however, it cannot guarantee if and when this will happen. 

Technology

The blockchain

AnyCryptoStock uses the ByteTrade blockchain to record transactions. ByteTrade is a cross-chain and sidechain blockchain suitable for decentralized exchanges as it allows for multichain trading and fast execution of transactions. 

It is governed by several consensus mechanisms. 

  1. BCP. It is based on a dual mechanism, DRPOS (Delegated-Revenue-POS) and CBP (Consensus-before-Packing). The DRPOS consensus mechanism is derived from DPOS (Delegated Proof of Stake), modifying the system and allowing all users to gain benefits from node management. The CBP mechanism on the other hand does not require subsequent confirmation of the blockchain, this makes for a faster network. ByteTrade’s blockchain is managed by 11 nodes. 
  2. BCCP (ByteTrade Cross-Chain Protocol), is the protocol that makes the blockchain used by AnyCryptoStock, a cross-chain platform. With this protocol, users can exchange Ethereum and Bitcoin on AnyCryptoStock by locking the assets inside smart contracts (in the case of Ethereum) or scripts (in the case of Bitcoin) that require a multi-signature system that ensures the security of the assets themselves. 

For more information about ByteTrade: https://medium.com/@bytetrade/what-is-bton-bytetrade-e986a6449a46

ERC20 Tokens

AnyCryptoStock is an exchange that supports the buying and selling of particular ERC20 tokens, Crypto Stocks. Tokens are “coins” that are assigned an arbitrary value within the Ethereum blockchain ecosystem. ERC20 tokens (ERC is an acronym that stands for Ethereum Request Comment, while 20 is a number assigned to this particular standard) are special smart contracts that allow the “standardized” creation of new and identical tokens, called fungible tokens, as they have the same characteristics. They have a name and an associated symbol and are easy to use and control. 

Disclaimer

AnyCryptoStock is a global exchange, which operates in accordance with national laws and regulations. Where the law does not allow it, AnyCryptoStock cannot guarantee its services. AnyCryptoStock strives to obtain licenses to operate even in “prohibited legislations”, but cannot determine in advance if and when this will occur. It should be noted that AnyCryptoStock may not be able to operate in some jurisdictions in order not to break applicable laws. 

AnyCryptoStock reserves the right to modify its products and terms of use to comply with the laws of the states in which it operates. 

The whitepaper is not investment advice

The user who registers with AnyCryptoStock agrees to the terms and conditions of use. AnyCryptoStock makes no claims, warranties or guarantees of any kind to the user. AnyCryptoStock does not offer any commercial or related advice on any techniques, models, algorithms or any other financial schemes.

This whitepaper does not constitute investment advice, nor should the user rely on it for investment, buying or selling decisions. 

AnyCryptoStock does not warrant that this document is complete, nor does it warrant that the information contained herein is complete. 

AnyCryptoStock may adopt changes in its structure and technology. 

AnyCryptoStock has made, is making and will make every effort to ensure continuity and security in its services.

AnyCryptoStock assumes no liability for any claim, recourse, loss, damage, delay, accident, cost, business interruption cost or any other expense – including and without limitation any type of legal fees – or for any accident, direct, indirect, general, special, punitive, exemplary or consequential damages; for loss of data or profits, business interruption, computer failure or malfunction; for any commercial loss directly or indirectly derived from or related to:

  1. Terms of Services;
  2. The Site and its use;
  3. AnyCryptoStock’s services and their use;
  4. The actual or perceived value of any currency, token or Crypto Stock traded on AnyCryptoStock or the price of any token displayed on the Site at any time; 
  5. any inaccurate, misleading or incomplete statement by AnyCryptoStock or on the Site regarding your wallet, whether or not attributable to the negligence of AnyCryptoStock;
  6. any delay, malfunction, interruption, or decision (including any decision made by AnyCryptoStock to modify or interfere with user’s rights) by AnyCryptoStock in the operation of the site and in the provision of any service;
  7. any misappropriated or unauthorized use of the user’s wallet information; any breach of security or data relating to the user’s wallet information; any criminal or third party act affecting AnyCryptoStock;
  8. any offer, representation, proposal, statement or representation regarding AnyCryptoStock, the site or any service offered.

Crypto Stocks are not securities

This whitepaper does not constitute a prospectus or an offer of financial services, is not a sales document or a solicitation to purchase securities, investment products, regulated products or financial instruments, in any jurisdiction.

Crypto Stocks and any other tokens or digital currencies listed on AnyCryptoStock do not represent securities.

Data accuracy 

AnyCryptoStock has listed part of the Crypto Stocks courtesy of the Crypto Stock Foundation, which guarantees that all ERC20 tokens have been audited verifiably in the appropriate section of Github.com. There is no guarantee as to the accuracy, reliability, or completeness of the data reported in this whitepaper. 

Translation

This whitepaper is issued in English. Any translation into another language is not certified by AnyCryptoStock and is not to be relied upon. Please always refer to the official version available in the appropriate section of the AnyCryptoStock website.

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