Direct Offerings & Buy Orders

How do I make a Direct Offering? CONTINUE HERE TO OPEN ACCOUNT

For Community Members Please: Click on the [Offerings] button at the top. Then click on the [Add New] button at the top of the Offerings page. That will bring up the ‘Add New Offering’ page where you can enter the details of your offering. Click the [Add Offering] button to save your new offering. Please check out this World Credit Authority article on direct listings.

*We buy commercial UCC Financial Instruments

*We mutualize securities/assets upon approval– Trust | Managed | Retirement | Fund

*We tokenize securities and assets100 / ₿ 0.0100 + Asset Unit Price

*Please email the World Credit Union Security Coordinator here

For New Accounts Please: To open a new account please start reading how to make a direct offering. Please read below how to structure your first community offering.

Please review the transaction instructions

Offering Categories

*Please choose one

NEO only
Allow 100% Nomni-only offerings
Gift
Allow offerings that are free gifts
Exchange/Swap
Allow exchange trades or credit swap offerings
Barter
Allow negotiable instrument offerings
Sharing
Allow share / stock offerings
***BAILMENT FEE IN BTC ONLY***

Whats does a Direct Offering look like?

Offer Title: (NAME YOUR OFFERING USING THE NOTATIONS)

Notation list * Use structure below to name your direct offerings

Private Equity – Any Named Service or Product

ETF – Any Named / Term + Asset / Asset

Any Named / Type Bond

Any Named Stock / Share

Any Named / Type Bullion

Any Named / Type Fund

Any Named / Type Treasuries (World Treasury Window)


Offer Title: (NAME YOUR OFFERING USING THE NOTATIONS ABOVE)

DESCRIPTION

ISSUER NAME

Executive Summary / Memorandum / Prospectus

TERMS: Bailment Fee/ Contract Length/ Return Rate/ % Rate / Mutual Obligation

Asset Name: ?

Asset Supply: ?

Asset Price/Unit: ?

Asset Capital: ?


APPROVAL BY WORLD SECURITY EXCHANGE AUTHORITY


Asset Market: TBD by WSEA – XCHAIN VERFICIATION

Asset Symbol: TBD by WSEA – XCHAIN VERFICIATION

Asset Ticker: TBD by WSEA – XCHAIN VERFICIATION

Asset Verification: TBD by WSEA – XCHAIN VERFICIATION


PICK A CATEGORY

1. Bond Offerings – Individuals, Companies, organization, and partnerships of the Global Village are free to offer any bond denominated in the World Currencies.


2. Bullion Offerings – Individuals, Companies, organization, and partnerships of the Global Village are free to offer their precious metal bullion denominated in the World Currencies.


3. E-Trade Funds Offerings – Individuals, Companies, organization, and partnerships of the Global Village are free to offer their Exchange-traded Funds denominated in the World Currencies.


4. Hedge Fund Offerings – Companies, organization, and partnerships of the Global Village are free to offer their financial funds from Groups denominated in the World Currencies.


5. Municipal Securities Offerings – All Municipal Governments throughout the Global Village are free to offer their municipal securities denominated in the World Currencies.


6. Mutual Fund Offerings – Companies, organization, and partnerships of the Global Village are free to offer their financial funds denominated in the World Currencies.


7. Private Equity Offerings – Companies, organization, and partnerships of the Global Village are free to offer their private stocks, shares, & equity denominated in the World Currencies.


8. Stock Offerings – Companies, organization, and partnerships of the Global Village are free to offer their company stocks, shares, & equity denominated in the World Currencies.


9. Treasury Offerings – All Governments of the Global Village are free to offer their treasuries denominated in the World Currencies.


CONTINUE HERE TO OPEN ACCOUNT

Trading Agreements

As buyers’ accounts are debited by sellers, buyers should establish agreements with their sellers regarding when their accounts may be debited if they feel there might arise a dispute over the amount debited or there might be dissatisfaction with the private equity goods or service provided.

When purchases are small or retail, buyers do not in most instances require an agreement with their sellers. Acceptance of the goods or service by the buyer is usually sufficient authorisation for the seller to debit the buyer’s account.

When purchases are larger, it is not good practice for buyers to allow sellers to debit their accounts without authorisation. Buyers should establish agreements with their sellers before a sale takes place. An agreement should consider what amount will be debited after delivery and what constitutes authorisation for the seller to debit the buyer’s account. In many instances it is not possible for sellers to give a firm price, especially when providing private equity services at an hourly rate (e.g. building work, mechanical repairs). In such cases the traders need to agree what will happen if the price is too high or what to do if it appears that the price will be beyond expectation. The agreement should also state how the buyer will authorise the buyer to enter the trade (i.e. debit the buyer’s account). It should further consider how the trading parties will resolve a dispute or if the buyer is dissatisfied with the goods or service.

Agreements can be verbal but should be written. The CES site provides various tools to facilitate smart contracts & agreements. The P2P Invoice facility allows the seller to send the buyer an invoice indicating the price for the private equity goods or service(s) provided. If the buyer is in agreement with the price and satisfied with what has been received, an electronic or paper Trading Slip (echeck) or digital fiat token should be sent to the seller. This is the buyer’s acknowledgement of receipt, token of satisfaction and signal to the seller that the trade may be entered. The seller should not enter the trade until the Trading Slip or fiat token has been received.


CONTINUE HERE TO OPEN ACCOUNT

How Do I make a Buy Order?

Click on the [Wants] button for buy orders at the top. That will display the Wants List. Then click on the [Add Want] button at the top of the list. That will bring up the ‘Add New Want’ page where you can enter the details of your Want. Click the [Insert Record] button to save your new Want.

What does a Buy Order look like?

Buy Order Title:

Offer Title: (NAME YOUR OFFERING USING THE NOTATIONS)

Notation list * Use structure below to name your direct offerings

Private Equity – Service or Product + CES Offering Advert ID Number

ETF – Asset / Asset + CES Offering Advert ID Number

Any Named Bond + CES Offering Advert ID Number

Any Named Share / Stock + CES Offering Advert ID Number

Any Named Bullion + CES Offering Advert ID Number

Any Named Fund + CES Offering Advert ID Number

Any Named Treasuries + CES Offering Advert ID Number


PURCHASER NAME + CES Offering Advert ID Number

Bid Proposal / Letter of Intent / RFP Letter

AGREEMENT TERMS: Deposit Fee/ Contract Length/ Return Rate/ %Rate / Contract

Asset Name: ?

Asset Supply: ?

Asset Price/Unit: ?

Asset Capital: ?


REGULATED ASSET BY WORLD SECURITY EXCHANGE AUTHORITY


Asset Market: TBD by WSEA – XCHAIN VERFICIATION

Asset Symbol: TBD by WSEA – XCHAIN VERFICIATION

Asset Ticker: TBD by WSEA – XCHAIN VERFICIATION

Asset Verification: TBD by WSEA – XCHAIN VERFICIATION


CATEGORY

1. Bond Offerings – Individuals, Companies, organization, and partnerships of the Global Village are free to offer any bond denominated in the World Currencies.


2. Bullion Offerings – Individuals, Companies, organization, and partnerships of the Global Village are free to offer their precious metal bullion denominated in the World Currencies.


3. E-Trade Funds Offerings – Individuals, Companies, organization, and partnerships of the Global Village are free to offer their Exchange-traded Funds denominated in the World Currencies.


4. Hedge Fund Offerings – Companies, organization, and partnerships of the Global Village are free to offer their financial funds from Groups denominated in the World Currencies.


5. Municipal Securities Offerings – All Municipal Governments throughout the Global Village are free to offer their municipal securities denominated in the World Currencies.


6. Mutual Fund Offerings – Companies, organization, and partnerships of the Global Village are free to offer their financial funds denominated in the World Currencies.


7. Private Equity Offerings – Companies, organization, and partnerships of the Global Village are free to offer their private stocks, shares, & equity denominated in the World Currencies.


8. Stock Offerings – Companies, organization, and partnerships of the Global Village are free to offer their company stocks, shares, & equity denominated in the World Currencies.


9. Treasury Offerings – All Governments of the Global Village are free to offer their treasuries denominated in the World Currencies.

CONTINUE HERE TO OPEN ACCOUNT

Trading on the Decentralized Exchange

It is possible to trade on the Counterparty decentralized exchange directly online inside Counterwallet or on your desktop using freewallet.io . You can trade any token against any other token, including XCP. (Trading against BTC is Now Available.) This is bitcoin smart contracting.

Important: But before you begin, please be aware this exchange inside Counterwallet or Freewallet.io is actually an interface to the Bitcoin network. This means that all tokens, buy, and sell orders are all actually individual Bitcoin transactions. These transactions are then order matched by the protocol. This means that:

  • All buy and sell orders are automatically escrowed in the Bitcoin blockchain itself until they are completed. The Counterparty exchange is decentralized and peer-to-peer. This means that there is never a third party or middleman (such as a server administrator, traditional exchange, clearing house, or bank). This kind of trading is called ‘trustless’, because you do not have to trust anyone to handle your funds and complete your trade correctly.
  • Placing and cancelling orders requires the Bitcoin network to confirm these transactions, which may take some time.
  • Each action requires a basic transaction fee (like any other regular Bitcoin transaction.)
  • Some Counterwallet features may be restricted due to regulatory uncertainty in certain countries. This does not mean that they are disabled in the decentralized exchange. These features are simply hidden from the user interface by default to avoid legal issues. Like Bitcoin, Counterparty exists without international borders. So it is absolutely possible to use any of the features in any country by running your own copy of Counterwallet or Counterparty-cli, but please make 100% sure you are operating within the law before attempting this.

Disclaimer: All Counterwallet (and therefore Counterparty) actions are Bitcoin transactions. And because anyone can make a Bitcoin transaction, anyone can create a decentralized token. If this concept seems confusing, consider that Bitcoin functions entirely without a central bank. This is an identical ‘free-for-all’ scenario. It is fundamentally impossible to have an ‘owner’ and or ‘admins’ at such an exchange. Escrowed funds are provably inaccessible until peer-to-peer orders are successfully matched, and all completed orders are irreversible.

Counterparty (the open-source Bitcoin toolkit for financial instruments and markets) itself cannot distinguish whether tokens are legitimate, so please ensure due diligence before trading. Always research the official website of the token you are trading, its page on XChain and (if applicable) its thread on Bitcointalk.

CONTINUE HERE TO OPEN ACCOUNT

Trading Basics

Click Exchange -> Markets on the sidebar menu.

You will see the pairs with the most current activity. Clicking on these will forward you to their orderbook.

You can also specify a custom token to trade, if it does not appear in the top pairs list.

Simply write your token in the field (autocomplete will try to help) and click XCP or other. Most tokens are primarily traded against XCP, but you can trade absolutely any token. If you want to trade a token you have just created, you need have to wait until it has been verified by the Bitcoin blockchain first.)

Then you will be able to see a graph showing the price and volume of that token (if there is enough data to display.)

Using this interface you can choose which of your addresses you are using to trade, and place orders directly.

Below this interface, you can look at the current orderbook for that pair.

And below that is a listing of previously completed trades, if there are any.

Let’s try to buy 10 LTBCOIN just as an example. Set your desired price and amount, and press Buy.

Counterwallet will ask you to confirm your order to make sure everything is correct.

The order will now take some time to become valid and visible, while it is processed by the Bitcoin network.

You will be able to see the pending order by clicking the clock in the top left of the screen.

If you click the check to the left of the clock, you can see orders that have already been confirmed.

After a while, you will be able to see that the order confirmed. And if there is someone selling for the price that you are buying at, the order will be matched and completed automatically.

Buy & sell assets (tokens) on XCP DEX

This tutorial takes you through the process of buying and consequently selling a Counterparty-issued asset (or token/coin) from Counterwallet. By “Counterparty-issued” we mean “issued on the Counterparty platform by its users” as the Counterparty Project does not issue assets (XCP is the only asset that was issued by the Project).

First, let’s summarize how things work:

  1. All Counterparty assets can be traded on the Counterparty Decentralized Exchange and most Counterwallet sellers denominate their asset in XCP.  It is possible, but rare, to sell your asset A for another asset B, although that may be interesting in some cases. Some main advantages of decentralized crypto-exchanges are obviously decentralization (no counterparty risk) and a lower cost of filled orders.
  2. Some popular Counterparty-listed assets are available on traditional (centralized) crypto-exchanges such as Poloniex and MasterXchange where they are usually available denominated in BTC. This article covers only the DEx, but just so that you know the same asset can be traded on the DEx (usually denominated in XCP) and externally (usually denominated in BTC). Some advantages of centralized crypto-exchanges include the speed of trading and usually a better liquidity. 
  3. In order to buy an XCP-denominated asset, the user needs to complete the following steps:

a) Create a wallet if you already don’t have one (this one is easy, but make absolutely sure to write down your pass phrase). In case you’d like to practice first, there is a testnet (a network with “fake” (test) assets) wallet (link) where you can open two wallets and practice without any risk or cost – see What do I need to start using Counterwallet. It is simpler, more reliable, faster and more secure to use Counterwallet in the private browsing mode (in Chrome, CTRL+SHIFT+N, in Firefox, CTRL+SHIFT+P) which disables extensions/add ons (see this for additional security-related ideas).

b) Buy some XCP on a and send XCP and a small amount of BTC (e.g. 0.01) to your wallet address.

c) Understand the fees (see What is the difference between Total and Real Estimated Total when placing an order? and What is the difference between ‘miner’s fee’ and ‘redeemable fee’?), and how to recognize fake (fraudulent) assets)

d) Place a buy order on the DEx. If your offer gets matched within the duration of your order, your it will be settled. Otherwise it’ll fail.  In case you change your mind or prices change, you can cancel your order before it expires (see When is an order considered “active” and how can I cancel it?)

Now that we covered the basics, let’s walk through buy and sell scenarios.

Before we move on let’s remind ourselves that the default order validity (which can be changed in Counterwallet Settings and which does not persist between logons) is 1000 blocks of the Bitcoin blockchain, so if you trade in unstable assets you may want to change that to a lower value or even switch to a centralized crypto-exchange where it normally doesn’t cost anything to place (and cancel) an order. See KB articles under 3d (above) for additional details.

Buy

In Counterwallet’s left-hand menu find Exchange > Markets. If you’re after a popular asset, you may already see it among Top Pairs. Make sure you get the correct asset name(s).

If not, move to the right and under Select Another Pair start typing the asset (token) name you’re interested in. As you type Counterwallet will list available assets to save you time. Default unit of denomination is XCP, but you can select Other to enter another and as we mentioned above it is entirely possible that someone is selling WOOD for WATER. In that case you’d need have some WATER to buy WOOD and then you’d enter WOOD under Token 1 and WATER under Token 2.  On a DEx level top assets (and their recent price trends) can be seen under More > Top Assets.

Here we keep it simple and look for TESTASSETONE/XCP.

Once you click on TESTASSETONE, you will see the market. If it’s any liquid, you’ll see some buy and sell orders. We’re buying so we’re looking for Sell orders. At the very bottom of the screen we can see one sell offer: somebody is selling 22 TESTASSETONE in exchange for 2.2 XCP.  

If you’re happy with that price, simply click on it and Counterwallet will populate your Buy Order form. Make sure the price is acceptable because matched orders cannot be cancelled! (It is not rare to hear that someone paid 0.001 for an asset that normally costs 0.0001.)

A populated buy form can be modified (Price, Amount). Visually inspect all fields (especially if Total is a large number) to make sure one last time and then press the Buy button.

Now your order will remain valid until it’s matched, cancelled or expired (whichever comes faster – see related KB mentioned under 3d, above). 

Orders can be cancelled in two places – in Exchange > Open Orders and on the trading page for each asset pair where you have placed orders. The first location gives you a quicker way to see all your pending orders and cancel several on the same page. Orders can be partially matched and filled.

You can monitor all your transaction accounting and order status using https://xchain.io/.

Sell

Selling is executed the same way as buying, just in the opposite direction, so please refer to Buy section for details.

The key part here is to carefully enter the price and quantity. Just because someone is offering 0.001 for your token that’s normally selling for 0.01 doesn’t mean you should click on their offer to auto-populate Sell order form with their values. If you are selling an asset that’s also listed elsewhere (say, SJCX) you may want to check the price on other exchanges and see recently traded prices under More > Top Assets.

*We buy commercial paper – UCC Negotiable Instruments

*We mutualize securities and assets upon approval- Trust | Managed | Retirement | Fund

*We tokenize securities and assets – 100 / ₿ 0.0100 + Asset Unit Price

*Please email the World Credit Union Security Coordinator here

CONTINUE HERE TO OPEN ACCOUNT