Coingrid is a cryptocurrency exchange based in New Zealand. We aim to issue our own token, Coingrid Token (“CGT”). This whitepaper explains the significance of our exchange and what we aim to bring to the cryptocurrency market. CGT is a standard ERC 20 token which is based on Ethereum blockchain, which means CGT will be compatible with all Ethereum wallets.
Cryptocurrency is a form of digital currency that uses the blockchain technology to process transactions. Blockchain acts as the digitized public ledger where ALL transactions are recorded across thousands, if not millions, of devices in the network. As the data is stored across a network and it constantly crosschecks itself, blockchain is computationally secure against cyberattacks. However, cryptocurrency is not regulated and it is widely argued as to whether this is a positive trait. Instead of having to go to banks or other financial institutions, cryptocurrency takes out the middle man and allows you to perform transactions without having to sign documents and wait in line.
Since 2009, Bitcoin has grown tremendously and the market value has already exceeded $100 billion. (as of May 2018). Major exchanges around the world demonstrate billions of dollars’ worth of trade volume per day. Despite the growing popularity of cryptocurrencies, the public at large is still oblivious to how they could be a part of it.
Coingrid aims to make crypto investing as easy as sending an email. The user friendliness of the interface will allow anyone with a computer or a smartphone to buy Bitcoin or any crypto-currency listed on our exchange in as few steps as possible. We are currently in talks with major banks in New Zealand as it is our intention to support NZD fiat deposit. The New Zealand Government treats cryptocurrency as a valid form of investment, so unlike the sudden closure of exchanges we saw around the world, we will endeavour to do our very best to ensure that the same does not happen here.
CORE TEAM
CHAI KIM ADAM CURTIN
CHIEF EXECUTIVE OFFICER (CEO) HEAD OF STRATEGY
Background: Commercial law Background: Commercial law
ANDREW LEE DR JIN HONG
CHIEF OPERATING OFFICER (COO) HEAD OF SECURITY
Background: Designer, developer Background: Cyber Security, programming
DR JOHN LA ROCCO KEYO JACK
HEAD OF TECHNOLOGY HEAD OF MARKETING
Background: Academia, research, science Background: Entrepreneurship, management, marketing, sales
CRYPTOCURRENCY QUALITY CONTROL
Exchanges are usually rated by the quality of the currencies they list. Although we believe in promoting the cryptomarket by bringing in the mass public, we will go through a strict process to assess each and every currency that we list. This is to protect our valuable clients as we understand fake and scam coins are the biggest threat to the credibility of cryptocurrency.
AUTOMATED DAY TRADING(Ensemble Investment System)
Although day trading can be highly profitable, the reality is that most people do not have the time to monitor charts and analyze the market all day. Since cryptocurrency markets do not take breaks in between, it is much harder for the trader to stay focused and make the right trades. Ensemble Investment System will solve this problem by being your personal crypto manager. The AI system will day trade your coins 24/7 non-stop based on your trading strategy.
Coingrid uses the AdaBoost technique. Because our system is completely transparent, the AI bot is able to utilize this proven technology to make the most profitable trades for your portfolio. Whether you are a short-term investors or a long-term investor, this risk management technique will allow you to maximize your profit. The self-learning trading bot learns from its mistakes and successes. The longer you trade; less risky your investment will be. This algorithm is not original in the sense that it is widely being used at conventional stock markets.
COINS AND TOKENSCoingrid will support the following base trading pairs initially:
Bitcoin (BTC)
Ethereum (ETH)
Tether (USDT)
More coins and tokens will be added to our exchange over time. The listing process is transparent and we will allow our investors to vote for which coins Coingrid should list. Only those who hold CGT will be allowed to vote, this is to make sure that it is our investors who are casting the votes.
PROFIT MODEL
Type
Exchange fee : Coingrid will charge 0.1% exchange fee per trade (0.05% fee if CGT is used) Withdrawal fee : There will be a small fee to withdraw your coin from Coingrid to an external wallet.
Ensemble fee : Coingrid will charge a small commission fee for every successful trade.
Listing fee : CGT will be used for listing votes.
ICO PROCESS
Private sale will be offered to our business partners and high stake holders. This process will begin in June 2018.
Pre-sale will be available for early bird investors who got in before we begin our rigorous marketing campaign. Because our marketing expenses can be saved, we are able to offer our investors our token for a much cheaper price.
The ICO will begin in September where the price of 1 CGT will equate to $0.10USD.
The project will have a soft cap of 10,000,000 CGT and the hard cap is set as 80,000,000 CGT.
Initial 25,000,000 CGT will be reserved for presale, which will also be the hard cap of presale. If the hard cap is not reached, the remaining CGT will be carried over to the pre-ICO stage.
DISTRIBUTION
If the hard cap of the ICO is reached, the remaining CGT will be distributed within the team.
If the hard cap is not reached, the number of total supply of tokens will be scaled so the team will be holding 25% of the total supply. The rest of CGT will be burnt.
If the soft cap is not reached, the cryptocurrency exchange project will be canceled, but the tokens will still be distributed. These tokens will be tradeable on decentralized exchanged.
Details of the bounty campaign will be announced near the ICO stage; reward will be distributed in Ethereum.
The 80% of the tokens held by the team will be locked via smart contract and released gradually over the span of 5 years.
ICO FUNDS USAGE
Marketing and education (40%)
We believe marketing and education is the key to bringing cryptocurrency to the general public. Marketing/promotional strategies will be implemented to ensure Coingrid becomes more relevant in the crypto world.
Development (40%)
Other 40% of the ICO funds will be used to develop our exchange. This includes, but not limited to, development of the core structure, Ensemble Trading, different UI modes and performance upgrades.
Security & Risk Management (20%)
The remaining 20% of the funds will be reserved to combat unforeseeable situations. The amount reserved for Security & Risk Management will increase as our exchange expands; it can only be used if more than 50% of the executive members agree to do so.
for more information visit the page below :
BITCOINTALK URL : https://bitcointalk.org/index.php?topic=4559387.0
OFFICIAL WABSITE : www.congrid.co.nz
WHITEPAPER : https://www.coingrid.co.nz/whitepaper.pdf
PROTOTYPE/MVP : https://prototype.coingrid.co.nz
FACEBOOK : https://www.facebook.com/coingridnz/
TELEGRAM CHANEL : https://t.me/coingridnz
AUTHOR PROFILE
BITCOINTALK USERNAME : Gucy Alaet
BITCOINTALK URL : https://bitcointalk.org/index.php? action=profile;u=1572696
EMAIL : Novisalsabila4@gmail.com
FACEBOOK : https://www.facebook.com/levika.levika.5
TWITTER : https://twitter.com/NovitaS71992084
TELEGRAM : @novita2
ETHEREUM : 0x6BEb4919ef9714E3eB7870896f3EaA7DDCacB052
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