What is Crystal Token?
Crystal Token is a cryptocurrency token innovating the field of smart investments with the novel concept of Virtual Staking and different investment plans to satisfy the needs of all investors who desire a solid and constant passive income source.
How to participate in ICO
There are two ways:
• Pre-buy functionality (with ETH and BTC): It allows to reserve CYL tokens from the ICO page of your Dashboard. Deposited ETH/BTC will be converted into CYL tokens at the CYL/USD rate of the next round, just before the round starts. Exceeding amounts will be kept and automatically used in the following rounds;
• In-contract ERC20 (with ETH): Sending ETH from an ERC20 compatible wallet to our contract, when the round started (otherwise your transaction will be refused). A maximum amount of tokens per user will be defined for each round. Exceeding amounts will be considered a donation to the project. Do not send ETH from exchanges such as Coinbase and Kraken. Exchanges will freeze your tokens.
Differences with respect to existing Lending and Staking platforms
• We propose the novel concept of Virtual Staking, with a virtual meta-currency (VCYL) tied to Ethereum (ETH);
• We are working towards a real AI-driven trading bot which will be offered as a service on the platform;
• We offer a novel time-window based exchange windows which will help to sustain the price without compromising users’ freedom in trading;
• We are responsive and devote to our community, offering a live chat and a ticketing system to handle all customers issues. Offering a community-based decisions policy ensures the satisfaction of our users. Any suggestion is always valued to improve the platform;
• Our platform has been built from scratch and its core functionalities are ready to be enabled after the ICO
Virtual Staking program
Our Virtual Staking Program is unique and is based on two different tokens:
• CYL token, our main ERC20 token which will be sold during the ICO, exchangeable for ETH and usable to open a Virtual Staking contract;
• VCYL token, our virtual token that will be used to pay daily interests and referral bonuses. They can be converted to CYL tokens at the current market price. The value of a VCYL token will be strongly tied to ETH and will be always worth 0.001 ETH.
Interests paid in VCYL can be directly converted to ETH without relying on the exchange, or, they can be converted to CYL tokens and exchanged subsequently to ETH using our exchange. Virtual Staking plans are divided in two categories:
• Full-Benefits plans offer benefits such as a CYL token bonus and an innovative pure reinvest function, which compounds daily interests in the same plan until its end date (no additional time for the capital release).
• Short-term plans are tailored for customers who prefer a shorter capital release (30,60,90 days).
Virtual Staking program details: https://crystaltoken.co/assets/leaflets/VirtualStaking.pdf
Sustainability of the Virtual Staking program
Crystal Token has three sources of income:
• Multi-currency trading bot profit: Its core version is already implemented and its trades on Poloniex are shown in the dedicated section of the dashboard. Additional details on the algorithms we want to implement in the advanced version can be found in the Trading Bot
Specifications leaflet on our website: https://crystaltoken.co/assets/leaflets/BotSpecs.pdf
• Internal Exchange fees: Users who sell their CYL tokens are charged a 5% transaction fee which will be used for rebuy initiatives, in order to constantly sustain the value of the token.
• Trading as a service fees: Once the trading bot performances have been assessed, we aim to offer to our customers the opportunity to perform automatic multi-currency trading, by investing Crystal Token tokens on our platform, at the cost of fees applied on the profits generated.
These three business models will guarantee the availability of resources to pay interests in the Virtual Staking program. Please note that up to 2% daily is the upper limit of the interests received. It is not fixed or guaranteed, and it will surely oscillate, depending from our trading operations. In addition, the pure reinvest functionality allows to compound daily interests, but up to 2% daily overall, as stated in the whitepaper.
Internal Exchange
The exchange will be open 24 hours a day, and it will be purely based on supply and demand. The only difference with respect to traditional exchanges is that the token value will not be determined by a single trade but by the number of trades collected in a time window. This will allow us to perform rebuy initiatives to sustain the value of the token. There will be four time windows of six hours every day. More details can be found in our whitepaper at the following URL: https://crystaltoken.co/assets/whitepaper/CrystalToken_WhitePaper.pdf
The final price per token for a time window will be determined by the amount of ETH offered until the end of a specific time window of six hours. Users will be able to see in advance these updated amounts, before confirming their trades. Users who prefer to avoid the exchange to withdraw their savings, we also offer the alternative to convert VCYL tokens directly to ETH.
Additional Services
Besides the Virtual Staking service, we will also work towards a trading as a service feature. This will allow us to become a utility token for smart investments exploiting advanced trading techniques. Our proposed algorithms are detailed in the dedicated Trading leaflet on our website. We will also develop additional services such as a marketplace during the lifespan of the project.
Our team
Our decentralized multidisciplinary team consists of:
- Two Artificial Intelligence / data science experts (> 5 years experience);
- Three web developers;
- One expert on cryptocurrencies;
- One economy consultant (> 5 years experience);
- Two professional traders;
- Two experts for technical support and social media marketing.
Our team is anonymous considering the constantly changing and geographically varying legislation in the field of cryptocurrencies. Moreover, regulations can be particularly restrictive for those projects offering a solution for passive income. With this preventive step, we aim to guarantee the continuity of the service