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ICO launches May 8
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Your universal gateway to the crypto markets

Build and manage your blockchain portfolio with secure access to every exchange from a single portal

HOLDVEST is a new kind of blockchain investment platform that combines the best features of exchanges, brokerages, and instant trading apps. The platform is built around a liquidity aggregator connected to all major crypto exchanges, as well as its own internal decentralised exchange, enabling users to gain the best price for their trades from a single portal. Along with powerful tools for portfolio management, HOLDVEST, therefore, offers exceptional security, convenience and flexibility, and is suitable for experienced traders, institutional investors and newcomers alike.

The HOLDVEST platform has already been launched and will be monetised by means of the HDL token, which is hosted on the Waves blockchain.

The functions of the HDL token include but are but not limited to:
- Discounts on trading fees.​​ Users will be able to save up to 20% on standard trading fees by paying with HDL. Since fees are typically calculated as a proportion of order size, if HDL tokens rise in value then a smaller amount will be required to pay the equivalent value in the traded currencies. Buying HDL at ICO therefore represents the ability to pre-purchase trading activity at a favorable rate.

- Buyback program.​​ When an order is fulfilled on a trade and the user does not pay fees with HDL, a standard commission is charged as a percentage of the total order amount. When the HDL buyback program is started, every such operation on the HOLDVEST platform is immediately converted to a market BUY order for HDL tokens across supported exchanges. Therefore every trade represents demand for HDL.

- Decreasing supply.​ 50% of tokens submitted as fees (or bought using trading fees in non-HDL currencies), or otherwise used in payment for services on the HOLDVEST platform, will be burned. This is achieved either by destroying them with the functionality built into the Waves token launcher or by sending them to a provably unspendable address. This will decrease supply over time and place constant demand on the market. The remaining 50% of HDL collected in day-to-day activity will be held by the team. This can more succinctly be stated as: HDL tokens equivalent in value to 50% of all profits collected by HOLDVEST will be burned.

- ICO listing and voting.​​ The HDL token can be used to participate in platform development. This includes voting to list new cryptocurrencies and to support new ICOs; rating ICOs in terms of business model and trustworthiness of teams as a form of collective due diligence; and implementing new functionality of various forms on the platform.

- Advertising.​​ One of HOLDVEST’s revenue streams will come from selling advertising space on its platform. HDL will be the default token of payment for this service.

- Unlocking advanced features.​​ Users who hold HDL tokens within their portfolios will be able to unlock additional premium services on the platform. They will gain access to margin trading; be able to set advanced trading orders that are not available to other users (Limit orders, Stop market and Stop-Limit orders), as well as controlling Stop Loss and Take Profit parameters; and be sent alerts for arbitrage opportunities and other useful features that will allow them to generate additional profits.

Try out the beta website now at

Meet Pie chart for your Portfolio. Start by building your own!

Stay tuned for updates


Millions of crypto enthusiasts visit Coinschedule every month looking for the best ICO and token sales. Want to put your brand in front of them? Add your project today, and find the advertising package that's right for you.

See sample page here:








Open-Source Blockchain Solutions for Business

We design and develop open-source products and services to drive business value from the Neblio blockchain network.

~13 Million NEBL are in Circulation After Burning Over 112 Million Tokens


We are building a global blockchain developer network centered around simple to use APIs, tools, and services. Let us help you develop and deploy your next generation distributed application.

When will the Neblio Network launch?
The Neblio Network will be live on the date the Token Sale begins. Users that participate in the Token Sale will have their NEBL tokens deposited into the Neblio wallet address of their choice quickly after their order has been confirmed. Users may then immediately transfer their purchased tokens as they wish, even before the Token Sale concludes.

Why are NEBL Tokens needed on the Neblio Network?
Large, decentralized networks require robust security protocols and algorithms to ensure that all members of the network are behaving honestly. The Neblio Network does this via a Proof-of-Stake algorithm where users “stake” their tokens to secure the network. To encourage staking and securing the network, the network rewards users for the time spent staking.

What cryptocurrency exchanges will support NEBL?
This is up to individual exchanges. Exchanges support tokens based purely upon demand. The more demand expressed by consumers to exchange NEBL for other cryptocurrencies, the more likely it is that exchanges will support NEBL. Contact your favorite exchange to see if they will support NEBL.

How do I Stake my Tokens to generate tokens?
Staking is vital to operate and secure the Neblio Network. The network is set to generate new tokens at a rate that is variable depending on the number of tokens currently being staked on the network at any given time. The more tokens you currently have staking, and the longer it has been (up to a limit of 7 days) since the last time those tokens have successfully staked, the greater chance you have of receiving a stake reward. You may get small rewards frequently, or infrequently, depending on your total tokens. For more info, see our detailed blog post on staking.

When can I use the Neblio Platform for my distributed application?
See our Roadmap. We are working towards meeting or exceeding the deliverables and timeline we have set. In Q1 2018 the first version of our RESTful APIs in multiple languages are scheduled to be released. These APIs can be used to build applications that interact with the Neblio blockchain by storing and accessing transactions and information.


Consensus: POS; Blocktime: 120 seconds; Block reward: 10% of Staked NEBL


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Note: We are making this post for Plaza_Systems. For any issues or questions please post on the thread, or contact Plaza_Systems directly.

The Intersection of Lifestyle & Technology
Plaza brings emerging technologies to life by focusing on everyday utility, convenience, efficiency, and security.

Featured Benefits & Components
Whether at home or on the move, our customers will be empowered by a world of choice.

Technology Application Layers
In addition to applying AI technology depicted above, Plaza will integrate the existing payment functionality with the key emerging technology of the blockchain in layers.

Consumer Lifestyle Ecosystem
The Plaza ecosystem is an aspirational consumer lifestyle product created through the intelligent integration of established and emerging technologies.

With a lifestyle-first focus, we concentrate on the needs and concerns of people accustomed to convenience and security and who are cognizant of the creeping invasion of corporations and governments into their digital lives.

Duel Cryptocurrencies Fuel the System

One of the side effects of using limited-supply tokens, such as the PLAZA token, for marketplace transactions is the potential for price volatility as realised by even hardened cryptocurrencies such as Bitcoin and Ether.

Thus, to synchronise the Plaza Ecosystem globally, stabilise prices, and create cross-market e-commerce compatibility, Plaza will issue a stable, fiat-backed cryptocoin, the PlazaDollar (PL$), to be used exclusively for Plaza marketplace transactions.

Anyone can easily rack up some PLAZA tokens
Anyone, regardless of their net worth, can participate at the earliest stage of what is shaping up to be 2018’s most exciting ICO. You may join one or both of the following events.

Plaza creates the leading decentralized consumer market with a lifestyle-first focus, the first to integrate a range of emerging technologies, such as blockchain and artificial intelligence (AI).

The Plaza Team


Plaza Advisors


The latest from Plaza
News and opinion from Plaza Systems




Note: We are making this post for the TrakInvest project. Please direct all questions to TrakInvestICO

TrakInvest Bounty Program is Live. To Join Click Here



Note: We are making this post for the CEDEX project. Please direct all questions to here on the forums.

Read Whitepaper

About Cedex
CEDEX is the First Certified Blockchain Based Diamond Exchange is a global exchange that focuses on bridging the gap between the traditional diamond industry and the innovative financial markets. With its extensive industry knowledge, CEDEX wants to engineer a ground-breaking change – enabling people to liquidate and invest in diamonds like any other financial asset, in a transparent and secure way.

The CEDEX exchange enables anyone to invest in individual diamonds, shares of a high- value stone or shares in a basket of diamonds (ETF). Investors, buyers and sellers have full confidense because the diamond value is transparent, using the DEX, our machine learning algorithm and blockchain technology that rates a diamond’s asking price; liquid because it creates a two- sided market by enhancing both the supply and demand, and fungible because CEDEX creates a unique benchmark value, rate and contract for every stone.

The Technology
DEX – The Intelligence Behind CEDEX

DEX, our proprietary machine-learning algorithm has been created to bring transparency and coherency to the diamond financial market. The DEX comprises three main elements: gemological composition of individual diamonds listed on CEDEX, diamond market financial indices and global inventory analysis. Diamonds are onboarded to CEDEX and classified by categories. The DEX has been designed to incorporate artificial neural network technology using all available diamond data.

Try DEX for yourself!

See how easy, open and transparent it is to invest or trade in diamonds through CEDEX. Our DEX Beta version will give you a theoretical price for your diamond and rate it by its relative market value on the spot!
(for round carat stones 0.3, 0.5 and 1.0 carats. Once the DEX is fully developed it will be able to provide all type/size diamonds)

CEDEX Coin – Powering CEDEX Exchange

The CEDEX Coin is an ERC-20-compatible token traded over the public Ethereum blockchain. It will enable our participants to purchase diamonds on the CEDEX, transforming their assets into diamonds. Use of the CEDEX Coin will be driven by trading volumes generated on the exchange and the demand of the diamond ecosystem. The CEDEX Coin will be listed on all major exchanges and will be transferable to other cryptocurrencies and fiat currencies.

The CEDEX Coin will be the only means of payment used on the CEDEX exchange.
The CEDEX Coin amount is limited and coins offered on the sale that will not be bought will be burned.

CEDEX has a seven-stage roadmap summarized below.

The Team

Advisory Board


The pre-sale offering will be conducted over a 10-day period beginning on March 16th, 2018 at 10:00 GMT. The main-sale start date will be dictated by the completion of the pre-sale. If the pre-sale is completed within 24, hours main-sale will open at 10:00 GMT on March 17th, 2018. If the pre-sale is not completed within 24 hours the main sale will commence at 10:00 GMT on April 13th, 2018. In either event the main sale will last 28 days or until the maximum cap is reached.

- The CEDEX project will issue a maximum of, 100,000,000 CEDEX Coins. Due to the high volatility of ETH/USD rate CEDEX will cap the dollar value that will be sold throughout the Token-Sale to a maximum of USD $40 million. According to this adjustment the value of 1 CEDEX Coin will not exceed $0.8
- The public token sale will offer 50,000,000 CEDEX Coins. Currently, the CEDEX Coins are to be sold for 100,000 ETH.
- Up to 25,000,000 of the coins will be sold in the pre-sale and the remainder in the sale.
- All of the token supply will be created during the token sale and distributed once it is completed. Any tokens offered for sale to the public and not sold will be destroyed.
- As the Hard Cap for the Token-Sale will be published in ETH, prior to the Token-Sale, on March 14, 2018 08:00 GMT CEDEX will be locking and publishing the final ETH amount to be sold in the Token-sale

Users will be able to purchase CEDEX Coin in Ether, Bitcoin and fiat currencies according to the available rates in the market. A portion of the supply will be pre-allocated to the CEDEX founders and team members in the vesting schedule listed below. The company will hold 15% of the CEDEX Coin supply for future development and marketing expansion. This holding will also be used for purchasing additional diamonds in order to expand the financial offering of the CEDEX project.

Participants in the pre-sale and sale will receive special bonuses as indicated below:
- Pre-sale up to 25% of total CEDEX Coin – 0.3 CEDEX Coin for each CEDEX Coin purchased.
- First day of sale up to 25% of total CEDEX Coin – 0.15 CEDEX Coin for each CEDEX Coin purchased (ending at 24:00 GMT).
- Further information and updates will be posted ahead of time on

The net proceeds collected in the token sale will be used as follows:
- Up to 20% for finalizing the development of the DEX, Diamond-Token smart contracts and the exchange as described in the milestone section in Appendix C below.
- Up to 45% for marketing, business development and sales purposes. Most of the funds will be used for marketing the exchange in different jurisdictions. This will include online and offline marketing activities, signing partnership relations with various business partners and signing agreements with potential partners from the diamond industry. 
- Up to 20% for regulation, licenses, legal and operational purposes.
- Up to 15% for working capital.

The expected breakdown may be altered based on the Token Sale outcome and project progresses.


The CEDEX project was launched at the beginning of 2017. The CEDEX team has already achieved extensive business and technological milestones, as illustrated in Fig. 10.

On October 2017 Tech Financials announced the project to the public. AIM Announcement October 23,2018 Below we have detailed the four milestones that are the building blocks of the CEDEX project.

Note: We are making this post for the LiveTree ADEPT project. Please direct all questions to Livetree.Adept here on the forums.

The Livetree Adept main sale is now LIVE:!/seed/

LiveTree is an established, socially responsible crowdfunding company based in London, UK. Over the last two years, it has captured 5% of the UK crowdfunding market (in the film and content category) and forged partnerships with several leading names in film, TV and content creation, including the British Film Institute’s Future Film, the Screen Arts Institute, Kent Film Office, Film London and 20 organisations. LiveTree has compiled a contact directory  of 14,000 companies and thousands of individuals who work across film, TV and content creation.


Armed with the learnings from the success of its current revenue generating platform, LiveTree is now ready to launch ADEPT (Advanced Decentralized Platform for Transparent distribution). The new platform supports projects throughout their entire life cycle, from creation through distribution to funding. It is a model that not only reimagines LiveTree’s existing operation, but the entire creative, film, TV and content industry.

Funding: unique project financing

ADEPT offers two new and unprecedented funding returns, as well as a funding model:
 •  Profit share return: This option enables backers to earn a percentage of any sales. For example, if a project creator opts to use Blossom TV, backers earn a percentage of each pay-per-view.

 •  IP rights return: Several contracts covering various IP transfer options are available, including per-territory, per-episode and per-license-period. This is discussed further in the Digital Rights Management (DRM) technical section of the whitepaper.

 •  Milestone-reached’ model: The crowdfunding industry currently has two models. The first is the ‘all-or-nothing’ model under which, if the funding target is not met, the funds are returned to the backers. For example, if the target raise is $1,000 and $999 is raised, the funds are returned. The second model is ‘keep-what-you-raise’, under which the creator keeps any funds raised. For example, if the target is $1,000 and $999 is raised, the creator keeps what has been pledged. ADEPT introduces a third completely new model: ‘milestone-reached’. Under this system, a milestone target is set and backers’ funds are only released upon sign-off. For example, the creator sets two milestones, the first at $1,000 and the second at $2,000. Backers pre-fund the first $1,000, which is released only upon sign-off (or a timeout). This process is repeated with every pre-set milestone. If a dispute occurs an arbitration process takes place similar to the current LiveTree (e-Bay-style) resolution procedure.

ADEPT is the first platform to offer content creators a combination of reward-based crowdfunding, profit share and IP revenue. Its ‘milestone-reached’ funding model is also unique. These are made possible through the use of smart contracts and decentralized technology. All contract fees and payments in Seed drive demand for Seed and, as a result, its value. These innovations alone will assist ADEPT in becoming the market leader in the global $1bn crowdfunding industry for film, TV and content.

Distribution: Blossom decentralized channel

Using the network effect of potentially hundreds of thousands of team members, content creators can decide how best to market and distribute their work. ADEPT supports three possible distribution scenarios:

 •  Blossom: This is a revolutionary new online channel operated by ADEPT. Initially, it will operate purely using ADEPT’s unique pre-pay-to-view (PPVOD) model in order to capture market share. This enables fans to pre-pay for the content they want to watch. It is envisaged that independent content-makers and the LiveTree Incubators will be early adopters. Subscription (Netflix style), advertising (YouTube style) and pay-per-view models will be added as professional content makers take Blossom mainstream.

Blossom TV provides a direct, peer-to-peer connection between content creators and viewers. Scoring and sharing content is encouraged and tracked through Blossom digital rights management (DRM) and rewarded in Seed. Blossom provides viewers an entirely new interactive experience. It is envisaged consumers will be able to cast and choose what gets made in a fully interactive fun ‘gamified’ fashion.

 •  Online streaming: This distribution model utilizes the popularity of YouTube and Vimeo to create a migration path to Blossom. It is suitable for professionals and emerging content-makers that want to gain exposure and build popularity for their projects. This option recognizes that these channels are extremely popular, and remain powerful channels for capturing market share. (Note: Google requires its users to have a special ‘partner’ account. Vimeo has similar requirements for accessing APIs and realizing revenue)

 •  Traditional broadcasters: This model provides access to broadcasters with existing infrastructure (for TV and cinematic releases). Traditionally, license contracts are negotiated between established content-makers and sales executives. Currently this negotiation process can take months and, in some cases, years. ADEPT smart contracts reduce this complexity, giving distributors more time to negotiate more sales, meaning more content gets to market. Additionally, ADEPT Analytics scoring system provides an efficient way to match content creators with distributors who are seeking fresh new content.

Blossom represents the distribution point of an entirely new, game-changing market that is set to revolutionize the industry. It provides professional content-makers transparent viewing statistics (something centralized providers such as Netflix and Amazon refuse to provide to producers), transparent digital rights management and gamification (note DRM which is currently locked into centralized solutions provided by corporates such as Microsoft, Google and Apple), efficiency gains for contract negotiations with traditional sales executives and emerging content makers the first ever pre-pay to view service, empowering the consumer to Seed their choice of what gets made.  Blossom provides consumers a new level of interactivity.  They get to choose, where appropriate, who stars in the next episode, film or content, what gets funded and are ultimately rewarded for scoring and promoting the project in Seed.
All revenues derived from Blossom (subscriptions, ads, pay-per-view, pre-pay) will be paid in Seed, again creating demand and raising its expected value.


Note: We are making this post for DropDeck. Please direct any questions to DropDeck.Team


DropDeck Platform
A Cross-border Business Funding Platform
DropDeck is a royalty and debt financing platform for fast growing businesses with a pure smart-contract and token-incentivized mechanism to evaluate and fund businesses worldwide

1) Fundraising companies are exhaustively scored and ranked so that funders can put their money to the fastest growing companies, around the world.
2) Funders can "contribute" (royalty financing) or "lend" (debt financing) tokens to fundraising companies in a fast, reliable and secured way.
3) All participants in the funding ecosystem are financially incentivized to help funders get rewarded, so that funders can keep funding and attract more funders to join.


Information is arranged in order of importance, into 3 layers of increasing details - Home, Deck, and Claim, so that funders can screen very fast based on what matters the most first before deciding to spend time on more details or not.

If you can add trustworthy people you know to your Trust Circle and rate their trustworthiness accurately, you can see more and more accurate evaluation results and rankings of companies fundraising on DropDeck.


Trust scores and Potential scores are based less on consciously inputted data and more on incentive-guided behavior and immutable information unconsciously scattered across the platform and the internet, uncovering telltale hidden patterns.

You can pay to see hidden details behind a score - all kinds of data and metadata the score is based on, contributed by whom, and from which sources. The users who have contributed to the pay-to-see details are rewarded instantly.

DropDeck's “INCENTIVE SYSTEM” based on smart contracts and the Decentralized DropDeck Token (DDD) enables a perfect combination of Online - Offline, Onchain - Offchain, Machine - Man elements to break all barriers in-between, minimize risk, and maximize benefits for all token holders.

The Decentralized DropDeck Token (DDD) serves 4 major utilities

Contribute or lend to potential companies.

Pay for score verification.

Pay for premium features to achieve goals faster.

Get rewarded as an Evaluator, Hunter, Delegate, and more.


Anh (Alon) Vo
Michael Phan
George Popescu
James Haft

Anik Dang
Dennis Poh
Nagu Thogiti
Patrick Mansfield

Ketki Sen
Harlow Russel
Robert Allen
Hoang Nguyen

GheeHoe Cheng
Steve Young

Dr. Amir Banifatemi
Herve Roussel
Dr. Chris Marshall
Dr. Jiamei Deng
Barnabas Szilagyi
Gaye Soykok
Sivapriya Kaza
Angela Bates

Note: We are making this post for Modex. Please direct any questions to Support-Modex


Climate Change is getting worse by the minute and it affects every part of the Earth. It is not a matter of debate as concrete scientific evidence shows the reality of it.

1) Carbon dioxide levels in the air is at its highest in 650,000 years (406,17 parts per million).

2) 16 of the 17 warmest years on record have occurred since just 2001.

3) In the summer of 2012, Arctic sea ice had shrunk to the lowest level ever recorded in history.

4) Satellite data shows that Earth's polar ice caps are losing mass (287 GT per year).

The CLIMATECOIN token is a new and unique cryptocurrency based in Ethereum that permits any citizen in the world to participate in the fight against climate change. It utilizes blockchain technology for that purpose while also giving back quarterly profits to its token holders.

With the money Climatecoin Foundation gets from the CLIMATECOIN token sale, it will be buying stakes in companies that have ground-breaking products for fighting the current climate change crisis. CLIMATECOIN may buy companies that are already profitable, make seed investments in early-stage companies, create its own companies or projects, or buy solutions from other organizations to implement into the foundation’s projects.

The CLIMATECOIN Foundation will collaborate with companies that create solutions against climate change and they will utilize blockchain technology to do so. We will provide investment and business consulting to these companies to make their environmentally friendly products more economically feasible. The main goal for these companies is to remain profitable, in which they may be able to redeem dividends from the organization. The profitability of these partnered companies is essential to appreciating the value of the currency.

Another method for increasing the value of the coin is our depletion program: 2% of the total amount invested by the Foundation in any company will be reinvested into CLIMATECOIN CO2 tokens to allows the net asset value (NAV) of the token to increase over time. This program will function as a locked smart contract that will be locked in perpetuity to guarantee that the funds will be spent in this manner.

Our Video presentation:

You can also check our white paper here:

DETAILS Climatecoin Organization is issuing CO2 tokens through the smart contract system operated by Ethereum (ref to Annex 1).

The Climatecoin Foundation is a publicly registered body in Switzerland with legal responsibilities and is subject to audits. This will ensure the transparency of operations and the secure custody of the funds.

Token name: CLIMATECOIN CO2 Token - Climatecoin Profit-ShareSmart Contract The tokens will be assigned pro-rata to the funds provided to Climatecoin FOUNDATION in the InitialCoinOffering(ICO).


• Participants willing to contribute to and support the development of CLIMATECOIN can do so by sending Ether to the designated address.

• By doing so, contributors create CLIMATECOIN CO2 Tokens at the rate of 210 CLIMATECOIN CO2 tokens per ETH.

• It will begin on November 1st

• The contribution period will run for 30 days (until December 1st, or within 36 hours of the soft cap being achieved).

• There will be a pre-sale on the 23rd of October lasting 7 days for contributors of 100ETH or more and is capped at 100.000ETH.

• All unsold tokens will be burned.

• Climatecoin Foundation controls the contract and the address to which gathered Ether will be sent (implemented as a multisig address).

• CLIMATECOIN CO2 Tokens received by contributors will be transferable at 7 days after the end of the contribution period. (7 days Cliff)

• Security audits: To ensure beyond any doubt that funds will be secure, we are working with some of the most respected Ethereum security advisors. The results of the audits will be made public.

We are aiming at an ambitious strategy to position CLIMATECOIN as a central authority of the fight against climate change. We will aim to be the central asset manager for the best and most innovative companies in the environmental market. Funds above our Core Operating Budget (80-90% of raised funds) will be used in investments to ensure our success and createa “floor”effect on the C02 Token price.

• 65% Business Development & Stake Purchases: The development of companies and/or
stakes in acquisitions will be the primary focus.
• 10% Core Dev Team: The expansion of the Climatecoin development team will allow us
to implement additional functions to the software. Venture capital experts, business
managers, blockchain experts and other industry specialists will be hired.
• 10% Marketing: Online marketing in order to generate awareness in the blockchain and
climate change market about CLIMATECOIN existence in order to become a symbol for
the cause and attract attention for our currency and in the companies we approach.
• 15% Reserve: For future unforeseen costs.
• 5% Legal & Compliance: Most of which will be allocated for acquisition deals and the
creation of the worldwide network of companies that will be acquired. A small portion
will go into administration and accounting.

Our Team:

We will be selecting mainly projects proposed by the United Nations. You can see some examples in this website:
Examples of what these projects can look like:

Our roadmap

Website   |   Whitepaper   |   Bounty Campaign   |   WEF Whitepaper   |   Team   |   F.A.Q.   |   Contact

Twitter   |   Facebook   |   Linkedin   |   Blog   |   Youtube   |   Reddit   |   Slack


SPECTRE is the world’s first broker-less financial trading platform with an embedded, decentralised liquidity pool. Like traditional trading, clients are trading against SPECTRE’s balance sheet (also known as the ‘liquidity pool’), however this pool is initially capitalised and owned by ICO (initial coin offering) investors. In other words, SPECTRE’s liquidity pool is owned by token holders who initially invest in the ICO and therefore own a part of SPECTRE’s profitability, into perpetuity. Tokens are publicly traded on all major crypto-currency exchanges and thus can be held by anyone.
In this broker-less model, SPECTRE’s liquidity pool is completely decentralised and the conflict of interest problem is eradicated (Exhibit B). The trading process at SPECTRE works as follows; the retail trader signs up to the website but deposits nothing. Instead they simply open a crypto-wallet on the website and send funds to that address (this process is verified and governed by the Ethereum blockchain and so, is trust-less and secure).  Major off-site crypto-wallets can be connected to this wallet as well. This ensures that funds cannot be accessed or handled by SPECTRE employees or anyone apart from the trader him/herself. 
When a trader opens a trade (long or short) for a specified duration, the price of the asset they have wagered on, is monitored by a live, verifiable price feed from multiple audited financial sources such as Oanda. The eventual outcome (win or loss) is determined when the trade expires, by comparing the price of the underlying asset upon expiry, with that upon entry. If the trader has lost the trade, their wallet is automatically debited for the amount wagered and SPECTRE’s liquidity pool is credited,  7 net of 2% trade fees which are paid directly to SPECTRE’s operational expenses and 2% dividend, which is paid out to all token holders.
The remaining 96% of the trader’s loss, goes directly to expanding SPECTRE’s liquidity pool. If, on the other hand, the trader won, he/she receives an instant 75% ROI (return on investment) and SPECTRE’s liquidity pool is debited for that amount. Again, in this instance where the trader has won their trade, a 2% operational fee is paid to SPECTRE and 2%, to the SPECTRE token holder as dividend. Token holders do not face any losses because of this pay-out to the winning trader. This way, SPECTRE and token holder profits are not driven just by losses but instead by overall volumes.  Note that the payout can, in certain instances, be as high as 93%, depending on volumes in the system at the time. This entire process is governed by a smart contract built on the Ethereum blockchain and cannot be tampered with through human intervention.
The question arises; how can token holders in SPECTRE be comforted that it’s ability to pay dividends will remain and/or grow and thus, their dividend entitlement? This is described next, in the perpetual liquidity model.

SPECTRE pays out normal dividends and special dividends to token holders. Normal dividends, as described earlier, are paid as a 2% volume fee on trader’s wins or losses in the system, typically at the end of each month. Whether trades are generated on SPECTRE or other D-Apps connected to the liquidity pool, is not relevant from the token holder’s perspective. The more trades that are taken across the entire ecosystem, the more dividends that are paid out. So, a growing number of users on the platform (either directly on SPECTRE or other integrated D-Apps) will mathematically translate to higher volumes traded, resulting in perpetual growth in dividends to token holders. Special dividends, however, are paid out at the end of the year and only occur if SPECTRE’s liquidity pool (which directly grows when traders lose) has grown above a predetermined threshold. This threshold is detailed in the ‘Market Opportunity’ section later.
The average win rate of inexperienced traders is around 35-50%.6 Experienced traders, however, who spend time in learning technical or fundamental analysis in order to gain an edge and be able to beat the market, can at times obtain a 60-70% win rate, although emotions and greed tend to get the better of them, thus suppressing their win-rates below 60%, over time.7 Since SPECTRE’s liquidity pool pays out 75% on winning trades (and as high as 93% in certain conditions) but keeps 96% of all losses, traders on average need to maintain at-least a 57% win-rate in order to break-even. This is difficult for the masses to achieve and therefore, average win rates in the system are likely to hover under 48-53%, resulting in perpetual growth in SPECTRE’S liquidity pool and contractually, the size of special dividend payment to token holders (Exhibits C & F). 
This makes the SPECTRE token an industry first, namely one that offers a perpetual dividend stream driven by various avenues of growth, albeit on a fixed token supply, meaning that the value of the token must increase over time, from a mathematical standpoint (Exhibit C). What further perpetuates token value appreciation over time is that the SPECTRE team will be using, from time to time, 3% of fees generated on the system to purchase SPECTRE tokens as part of a wider token-buyback-program. No more than 15% of outstanding supply will be purchased. (Exhibit C).
When comparing the SPECTRE model to the current, defunct broker model, which benefits only from client losses, does not pay dividends, is centralised and is deeply riddled with conflict of interest, it becomes evident which model offers the safest trading environment for traders.
Lastly, SPECTRE, despite its name, is not an exchange in the classic sense in that it’s liquidity pool acts as the counterparty to all trades. This, in our view, is advantageous when compared to traditional prediction markets on the blockchain as these have no liquidity pools and are dependent on a large volume of users in order for traders to be able to enter and exit trades in a highly liquid fashion. SPECTRE’s model, by comparison, works with as little as 1 user or millions of users. Over time, as the SPECTRE user-base crosses a few thousand active traders, it may be possible for the SPECTRE’s conditional liquidity model (CLM) algorithm to match most if not all trades perfectly and thus truly become an ‘exchange’ in the classic sense; until then, the perpetual liquidity model serves the purpose rather efficiently. We discuss this and balance sheet/liquidity pool protection, next.

SPECTRE sets a new standard for transparency in the retail trading industry; not least because it removes the broker out of the equation, but also because all traders can see the real-time value of SPECTRE’s liquidity pool and subsequent fluctuations therein along with pay-outs to tokens holders, at all times. Unlike most conventional trading platforms designed by technology companies like Spot Option (which powers 65% of all digital option trading platforms globally), Metaquotes Software Corp (creator of Mt4/Mt5, which is used by over 70% of all FX traders)8 which show little to no analytics depicting a traders win-rate, strengths, weaknesses and other important statistics, SPECTRE’s trading platform comes embedded with emotion control, risk management, trade setup identification, deep trader analytics, trader chat and on-board education to help traders gain an edge on the markets (Exhibit E).

As part of SPECTRE’s trader protection initiative, neither SPECTRE or any of its employees have access to the trader’s wallet (known onsite as the private escrow). Therefore, all withdrawals are instant, free of classic broker intervention tactics and paid out without any fees subtracted. As all transactions in SPECTRE are governed by Ethereum smart contracts resting on the public blockchain, no human intervention is possible. Owing to the aforementioned platform advantages along with the broker-less model SPECTRE introduces to the sector, the market opportunity for both traders and ICO investors alike, is rather significant. This is quantified in greater detail next.

The retail FX trading industry is worth around $81 trillion every year (or around $2-300bn per day in turnover).  This represents just c.3-6% of the wider FX trading market.9 It is served by a global 4 million strong retail trader user-base.10 As for the digital or binary options industry, this is estimated to be around $30bn per year in volumes (c. $2-3bn in deposits), served by an estimated 200,000 retail traders around the world.11 Owing to the increasing level of fraud, volumes in the industry are under attack at the time of writing.

SPECTRE upon launch will immediately tap and disrupt the latter. Owing to its structural advantages over the classic, defunct broker model, it is likely to gain significant market share and help increase the allure of digital options over the world. This itself can result in a shift; whereby classic FX traders enter the world of digital options (now ‘smart options’) as it offers a simpler, quicker and equally safe way of trading the financial markets.  However, the aim of SPECTRE’s management team is to enhance functionality over the medium-term, such that SPECTRE also allows the physical buying and selling of FX and equities, by accessing the global liquidity pool which, owing to continued progress by the Enterprise Ethereum Alliance (EEA), will be repurposed for the blockchain where Ethereum can be used as a settlement layer. In other words, SPECTRE’s goal is to ultimately disrupt classic retail FX and equities trading where many brokers still trade actively against clients, but will first disrupt digital options, where broker fraud is holding the entire industry hostage and arresting the growth of what can be a multi-billion-dollar asset class. 
In our dynamic forecasts model (which is accessible on, we provide three scenarios; the base case, bull case and bear case. The assumptions detailed in the base case will form the basis of the discussion here. This entails purchasing smaller brokerages looking to exit, two of which we have already run due-diligence on and received indicative fair valuation ranges for (c. $0.1-0.3m range cumulative). Partially owing to these bolt-on acquisitions, we forecast SPECTRE to capture 3,000 traders by the end of year 1. By year 5, we expect to have captured 45,900 traders, implying a digital options market share of around 23% on a volume basis. We forecast SPECTRE’s balance sheet or liquidity pool (after all fees and dividends paid to SPECTRE and token holders) to grow by 20% in year 1 to around $6m. By year 5, we forecast the pool to have grown to $26.3m (Exhibit F). It is worth noting should the management team decide to not pursue bolt-on acquisitions post ICO, then the focus will be on organic growth but this would mean that forecasts get pushed out by a year.
As for SPECTRE fees, which are set at 2% on all trades, we forecast fee income of $1.6m in year 1 and $24.2m by year 5. Our forecasts translate to a client life-time-value (LTV) of around $800-900, in-line with current brokerage data received. Once clients, in our view, see that SPECTRE is by far the safest way to trade digital options and FX, we forecast a dramatic rise in LTVs, although we have not modelled for this explicitly in our forecasts. It is worth noting that in addition to SPECTRE earning fee income by charging a 2% trade transaction fee, SPECTRE also receives a special dividend (along with token holders as highlighted earlier) at the end of each year. The mechanics of this are described next.

▶ Dividends, Special Dividends and Token Buyback Program
We forecast combined dividends (eg. normal and special dividends) to token holders of $3.7m to be paid out in year 1 (or $0.11/token) translating to a projected token-yield of 37%. By year 5, we forecast total dividend payments per year to reach $60.5m (or $1.82/token), resulting in an annual 78% forecasted token-yield for ICO token investors. This compares to a paltry 1-5% dividend yield paid on tech stocks across the globe. As mentioned earlier, special dividends in the system are paid at the end of the year and only when the liquidity pool has experienced growth above a set threshold. If indeed pool growth exceeds pre-set, end-of-year targets at SPECTRE, any excess growth above these targets is going to be paid out at a 70/30 pari-passu basis to token holders and SPECTRE management, respectively. The benchmark level, also known as the hurdle rate, in terms of annual balance sheet growth, starts at 20% and expands to 50% over time. This means that should the SPECTRE liquidity pool grow more than 20%-50% in any given year, the excess growth in percentage will be paid out as special dividend.
As token supply will be strictly capped, this means that the absolute value of dividend per token may continue to rise, making the token itself a promising risk-adjusted return investment opportunity, in our view. The SPECTRE team will also, from time to time, use 3% of SPECTRE fees/profits to buy back SPECTRE tokens (no more than 15% of listed tokens). This further serves to increase the token price for holders, over time. At the time of writing (2017), the ICO-based fund-raising process may be in somewhat of a temporary bubble with many projects raising large amounts of funding but not having any working products or those that are generating return for shareholders. A token that pays out instant yield and whose engine is driven by the lucrative financial trading industry, gives, in our view, token investors a certain degree of “bubble protection” in that the SPECTRE token is likely to outperform many others during volatile markets (Exhibit C). 
As for pay-outs to traders trading on SPECTRE, we forecast a total of $30.9m paid out as wins in year 1 on the back of a somewhat conservative 52% win-rate assumption (data from major leading brokerages at present shows a 50% win-rate only). By year 5, this figure would have expanded to $472.6. This underlines that despite SPECTRE’s liquidity pool and dividends to token holders forecasted to grow, substantial sums of money will be paid out to traders who can beat the market, in a provably fair and transparent manner. It is important to note that all forecasts are in USD ($), however, as transactions will be undertaken in Ethereum (ETH), end-of-year financial statement reporting may result in translation effects.


Shanghai-based Blockchain-as-a-Service (BaaS) company, BitSE, is opening possibilities for every industry with the official launch of VeChain, a cloud product management platform built on a blockchain, at a recent event in Shanghai.
Due to a shared interest in expanding the use of blockchain technologies, BitSE is  collaborating with PricewaterhouseCoopers (PwC) to boost blockchain adoption in the Asian Pacific markets, with the goal to help their clients design and implement innovative blockchain solutions.
VeChain focuses on four areas: anti-counterfeiting, supply chain management, asset management and client experiences. By putting unique IDs on the blockchain and embedding each product with an NFC (Near Field Communication) chip, RFID (Radio Frequency Identification) tag or QR (Quick Response) code, all of which can verify whether an item is genuine or not, VeChain provides an opportunity for different enterprises to easily create, manage, maintain and update shared data.
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