Former Binance & Morgan Stanley Developers Launch Exclusive Crypto Exchange Platform – ‘Fairdesk’
Recently, six former Binance executives and three former software architects from the FICC department of Morgan Stanley launched a new crypto exchange called Fairdesk this September.
Fairdesk is a forward-looking company focusing on building a platform that enables traders to go both long and short, profit from both bullish and bearish markets, with leverage up to 125X. Fairdesk strives for security, fairness, reliability and high performance.
Fairdesk’s Core features:
Security: With all funds stored in multi-level cold wallets and every transaction scrutinized manually and signed offline, Fairdesk ensures the highest level of protection to its customers and stakeholders. Cold wallets are mostly disconnected from the network and are least susceptible to network-based attacks.
Fairness: Carefully designed mark price, funding rate and stepping liquidation process help limit the scale and frequency of liquidation, thus protecting client’s assets in most market situations. Trading commission is set at the lowest levels in the industry, leaving the profits to the clients.
Reliability: Fairdesk’s trading infrastructure is designed to be reliable. They claim that if the system goes down, they will compensate clients who have open positions. This further demonstrates their determination to provide a highly reliable service to their clients.
High-performance infrastructure: Their proprietary match engine can efficiently handle more than 450,000 orders per second, with 99.9% of orders being executed within one millisecond, providing their clients with a blazingly fast trading experience.
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Jacky Choi, one of the co-founders of the crypto company, joined Binance as a technology executive after working more than five years with Morgan Stanley. He mentioned:
“The whole crypto trading industry is quite fascinating as blockchain is the future and users are very active. However, the crypto trading business is still very young and a lot could be done to make the trading faster, securer and fairer.
We shared the ideas with our former colleagues, and all of us decided to create a new trading platform together to make it happen and we have made it.”
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