Fortified X

Problems

1. Due to system vulnerability and the use of single-stage private keys to secure hot wallets on most exchange platforms, a few exchanges have been hacked/breached resulting in significant loss of funds.

2. Most exchanges are not built with scalability in mind, as such, when system and traffic workload increase, as well as requirement changes, they are unable to cope thereby impacting the quality of their output and service delivery.

3. The complex nature of most exchange platforms makes it difficult for new users to understand and navigate, as such, their reluctance to invest their funds.

4. Some exchanges use bots to manipulate the prices of tokens. In contrast, others use promotions to inflate trading volumes – because most exchanges are only slightly regulated, abuse of users’ funds is probable.

5. Most exchanges lack autonomous DAO functions for effective decision-making to facilitate adequate exchange operations, management and growth.

6. Some exchanges are plagued with poor market liquidity resulting in higher risks and poor market conditions that impact investors’ confidence.

7. Most cryptocurrency exchanges offer poor customer support to their users due to a lack of adequate resources and the inability to scale capabilities to match their growing customer base.

Our solutions

1. Besides being built to high standards, penetration tested and audited. Fortified X platform will deploy cold wallets for deposits, multi-signature private keys for hot wallets, and an out-guard security layer for 24-hour monitoring to ensure the highest system of security standards.

2. Fortified X will be built with the robust architecture and features needed to allow room for increased security, scalability, speed and innovative development to meet the evolving qualitative service demand of the DeFi space.

3. Our vision is to deliver a credible and transparent hybrid exchange that will further the continued adoption of DeFi. Therefore, the UX and UI of Fortified X will be designed to deliver less complexity through adequate design thinking, awareness of users’ needs and collaboration.

4. Fortified X will be a regulated exchange; therefore, we will always put qualitative service delivery, compliance and customer satisfaction at the heart of our operations. As such, we aim to implement the Proof of Reserves to enhance the practicability and transparency of our operations.

5. At Fortified X, reserve funds will be managed through DOA governance. Also, DAO governance will facilitate better operations, management and growth of Fortified X.

6. At Fortified X, we aim to be compliant with applicable regulatory frameworks in the jurisdiction we operate to ensure business confidence and offer clarity to our investors.

7. Fortified X will offer qualitative customer service to customers via a 24-hour customer support system as well as a live chat without login requirements.