Meteor Games: SPARROW REVIEW

INVEST NOW at https://sparrowexchange.com/

INTRODUCTION

What is Sparrow?
Sparrow is the next generation options trading platform that’s settled by smart contract. We empower individual and institutional traders to store, buy and sell digital asset options that are transparent, customizable and simple. Established in Singapore in January 2018 by Kenneth Yeo and Adrian Tan, professional proprietary traders with experience trading derivatives in regulated markets, we serve the needs of a maturing cryptocurrency market with the right tools to control risk.

Why did you start Sparrow?
We are traders at heart and we want to give the world the confidence to trade everything. We feel trading today is complicated and inherently unsafe because of the lack of transparency and liquidity in customizable options. We believe we can change that by combining the best elements of trading, great design and Blockchain technology.

What are your Core Values?
Collaborate We believe in the power of collaboration, working with industry partners, exchanges and regulators to serve the needs of our customers.

Empower We seek to empower anyone to trade confidently and consistently by building platform and tools that give them simplicity and security.

Respect We treat everyone the way we want to be treated in all our dealings.

Responsible We believe in taking responsibility for our actions, and having the conviction and moral courage to do the right thing always.

Who are your Strategic Partners?
Sparrow has forged Strategic Partnerships with renowned organizations such as: Signum Capital, LuneX Ventures, Arrington XRP Capital, Kyber Network, Hyperchain Capital, Digital Currency Holdings, Du Capital, The Yozma Group, QCP Capital, 256 Ventures, Jubilee Capital, and XSQ.

What documents are required to use Sparrow?
During user registration, a digital copy of your passport will be required for KYC/AML/CFT screening. For higher withdrawal limits, you may submit a request to our support team who will require a full-page scan of either a bank statement, or utility, cable, or cell phone bill for verification against your registered home address. The scanned document should clearly display your name and current residential address, and must have been issued no later than 90 days prior to the date of submission. If further verification is required, our support team may request additional documents.

Identity Verification and Screening
You must be over 18 to register for an account

Submit a valid ID

Upload a brand new selfie. Do not upload a professional headshot, or cropped photo from your ID

Select the correct ID type

Upload the correct images as instructed

Upload supported ID types

Submit an image that is legible, unaltered, undamaged, and free from glare

Submit IDs with Latin (English) characters for faster identity verifications

Sparrow’s commitment to compliance

How long does it take to be verified?
Once we have successfully received the required documents, the verification process for most users would take less than 3 business days. However, if we require more information or if there are regulatory issues, the verification process may take longer.

How do I sign up as a user for Sparrow?
For individual accounts, you may register directly on the Sparrow website.

For corporate accounts, please contact support@sparrowexchange.com.

Why Sparrow?
1. Simple.
Sparrow Options are covered and the simplest way to control risk and boost your returns.

2. Customizable.
Full-featured, customizable and highly- liquid options trading platform supporting the needs of both retail and institutional traders.

3. Reliable.
Sparrow Options are settled on Ethereum smart contracts on the NIDUS Chain, enabling transparent settlement of digital assets.

4. Secure.
Industry-leading security and compliance. Your assets are secured to the highest security standards that are independently audited.

Sparrow Offerings
Sparrow Options
More liquid than OTC options and more customizable than exchange-traded options. Enjoy the best of both worlds.

TradePROTECT & TradeBOOST
Simplified option products anyone can use. Create an option in 3 simple steps.

ConvertNOW Facility (CNF)
Instantly swap your digital assets at any specific amounts at the best market price. Simple, secure and zero fees.

API Trading
Sparrow offers trading APIs and attractive volume-based rebates for professionals. Contact us for more details.

Sparrow Options
What are Options?
An option is an agreement between two parties that gives the buyer of the option the right (but not the obligation) to buy or sell a specific crypto asset at a specific strike price at the specific expiration date. The seller of the option receives an Instant Premium as compensation at the start of the contract and is required to fulfil the obligations of the contract if the buyer exercises the option.

What are Sparrow Options?
Sparrow Options give you the power to protect your digital assets through the TradePROTECT product (traditionally called buying an option), or receive Instant Premium on your digital assets through the use of the TradeBOOST product (traditionally called selling an option). Sparrow Options are transparent, customizable, and simple products that aim to bring risk control using options to a wider audience.

What is the Sparrow Dollar (SP$)?
The Sparrow Dollar (SP$) is the settlement currency of Sparrow, making it easy for traders to understand the value of any Sparrow Option and make comparisons among contracts. SP$ can only be used on Sparrow and will not be transferrable or usable outside of Sparrow.

What is the Sparrow Token (SPO)?
The Sparrow Token (SPO) is an ERC-20 token that runs on the Ethereum blockchain. A total of 1.4 billion SPO will be issued by Sparrow.

Discounted transaction fees

Users can enjoy attractive discounts by paying with SPO. The discount is currently set to 50% of the posted transaction fee.

Token Burning

Every quarter, we plan to burn up to 50% of the trading revenue received on the Sparrow platform until we destroy 50% of all SPO issued. All transactions will be on the blockchain.

How do Sparrow Options Work?
The Sparrow Option is a European cash-settled option which is automatically settled by smart contract. A Sparrow Option's contract specification is recorded and viewable in the smart contract.

A Sparrow Option can only be exercised at expiration and is settled in Sparrow Dollars (SP$) instead of physical delivery of the underlying assets.

What is TradePROTECT?
TradePROTECT is what we call buying an “out-the-money, European, covered option”. The buyer pays a non-refundable Instant Premium to obtain the right (not an obligation) to trade a particular digital asset at the end of a specified period for a specified strike price. As TradePROTECT is a covered option, this means there is no counterparty risk. It is the ideal instrument to protect digital assets against adverse market conditions.

TLDR: You pay Instant Premium to buy a right to trade.

What is TradeBOOST?
TradeBOOST is what we call selling an “out-the-money, European, covered option”. This means the seller collects a non-refundable Instant Premium in return for selling the right (not an obligation) to trade a particular digital asset at the end of a specified period for a specified strike price. As TradeBOOST is a covered option, this means the seller would need to pledge 100% of the underlying digital asset. It is the ideal instrument to monetize digital assets when the market is quiet or if you have a longer-term view with short-term expenses to fulfill.

TLDR: You collect Instant Premium to sell a right to trade.

So join now and invest at https://sparrowexchange.com/

Source- https://sparrowexchange.com/

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