KoinFix is a new Web3 P2P crypto exchange and fiat on/off-ramp that aims to launch in Q3 2023 on Avalanche C-Chain.
You can think of KoinFix as the next generation of the sorely missed services LocalBitcoins, LocalCryptos and Paxful. That is, services where you can buy and sell cryptocurrency peer-to-peer by trading fiat for crypto, or vice versa, directly with other users of the platform — or, in the case of KoinFix, protocol.
Protocol because KoinFix is not a centralized service run by a corporation like the above-named heroes of the early days of crypto. KoinFix is a Web3 protocol — that is, a set of rules and procedures to follow in order to achieve a given outcome without requiring the permission or assistance of a central authority, or middleman.
In the case of KoinFix, that outcome is to execute a cryptocurrency trade, usually fiat for crypto or vice-versa. When buying crypto with fiat, this is called on-ramping. When selling crypto for fiat, this is called off-ramping.
Web3 protocols usually run as “smart contracts” on blockchains such as Ethereum, Avalanche, Cosmos, etc. In this way, protocols such as KoinFix are aiming to be decentralized and permissionless. Decentralized because there is no central authority that controls the system. Permissionless because no one can deny you permission to use the KoinFix protocol, at least in theory.
KoinFix is on a mission to facilitate access to cryptocurrency for people across the globe, without having to endure onerous KYC or the arbitrary limits and opaque reserves status of centralized exchanges (CEXs).
We are building the KoinFix P2P crypto exchange so anyone, anywhere can have uncensorable, KYC-free, transparent and open-source fiat on- and off-ramps.
We see this as making a meaningful contribution towards the goal of facilitating access to prosperity for people across the globe who have been denied access to the full benefits of an accountable monetary system.
Towards that end, we seek to work with individuals, teams, chains and anyone who is also excited about this mission.
We envision a world of universal prosperity, where every human being has the opportunity to realize their potential.
We envision a world where everyone, everywhere enjoys monetary freedom; and may use and create money as they see fit, trading it on a voluntary basis across borders, from anywhere to anywhere, from anyone to anyone.
We envision a world of crypto mass adoption, where everyone has access to prosperity, where no one is cut out of the system or left behind.
We envision a world free from large-scale oppressive forces such as nation-states and rent-seeking intermediaries such as banks, so that individuals can develop as they see fit, entering into voluntary relationships with each other by mutual agreement, without interference from those who would unjustly tilt the playing field in their own favor using aggressive institutions or unfair restrictions on our liberty.
We are in favor of keeping things simple and true. The $KFIX tokenomics, for example, will be weighted heavily towards protocol users who create offers, i.e., makers.
We encourage you to join us in the process of protocol design via our litepaper GitHub repo, as there is still much to discuss, decide and define. We want and value your input.
If the KoinFix mission is exciting to you, please join us and contribute to the level that is convenient for you. We welcome the interest of coders, writers, marketers, idea people, thoughtful critics, salespeople, community leaders, prospective partners and more. We want to work with you.