Hey everyone, my name is Ram Avissar and I am the Community & Marketing manager at CoinDash.
I was sitting in an ETH meetup in Tel Aviv almost a year ago, when I heard Alon, CoinDash CEO describing his vision of a new portfolio management tool and was immediately hooked up with the idea and eventually decided to join the team.
I’m a Lawyer and CPA, I am not a developer and do not hold any special engineering knowledge and the reason I'm telling you this is because I want to point out that what CoinDash is eventually all about, is making the crypto currencies market accessible to everyone and not just to the closed group of developers and bitcoin geeks...
Although the recent surge and growing interest over the past two years, Blockchain technology and crypto currencies are still far away from being mainstream. Every day new users are presented with those ideas and hearing about bitcoin, but find it very difficult to penetrate the market with its technical aspects. Those who do manage to pass that technical barriers are lost in the endless information database that is changing every minute, with news and ICO’s brought out daily. On top of that, even after getting all of that together and making the right investments, tracking them and analysing your performance is a hard and time-consuming challenge as there are many price variables. All those facts together lead us as a community to lose a tremendous amount of new members each day, preventing them from getting in and keeping the blockchain and crypto currencies out of reach, preventing its mass adoption. And that is what we at CoinDash aim to change.
The Market
Both market cap and daily trading volumes are rocketing at the moment. The entire industry market cap was approximately 16B$ just in last September, now it just passed a 100. Another interesting point is what happened with the BTC dominance during that time. BTC dominance is a term used for measuring the Market cap of BTC in relation to the entire market cap of all existing coins. After dominating around 85% for most of its history, since the beginning of 2017, BTC percentage of the entire Crypto market cap is now standing only at 44%! Now this doesn’t necessarily mean that people has lost interest in Bitcoin, just that people are finding now all the other coins interesting as well and that the main use case in the field at the moment is participating in ICO’s and creating new tokens other than just trading on the Bitcoin price. With that in mind, we understand that more resources are needed in order to manage Altcoins portfolios over just bitcoin.
ICOs
This new way of financing keeps getting bigger and bigger currently having different ICOs every single week. In fact, it became so common that even a major company called Kik with over 1B valuation is now raising money this way. While the frequency of ICOs are getting ever-larger, the amounts raised through them are increasing and the time phrases they are concluding within are reducing.
The problem
So what is the problem? We established that every day new users are buying crypto currencies with fiat eventually raising the market cap and prices, every other week we have a different ICO collecting millions of dollars in a day, perfect. Well... many of these users, after having no tools, not enough skills or understanding, are forced to make critical mistakes and eventually will end up losing their money. You might not see this now when everything keeps going up, but eventually when the market will settle down, these guys will probably lose their investments and might never come back. WE CAN’T LOOSE THEM! We can’t lose those guys If we want bitcoin to scale, if we want cryptocurrencies to become mainstream, we can’t afford letting people invest their money without any guidance and tools. This is not just CoinDash’s interest but the entire ecosystem interest. With that notion in mind we decided to bring CoinDash to life.
The platform
CoinDash is basically a 3 layers platform designed for new and experienced users, providing them with adequate tools to manage and maximize their portfolios.
1 Layer – portfolio management tools – instead of using Excel sheets which are not scalable and require time consuming price updates. using only your public key (your address), by just pressing a single button, the platform will automatically trace back all your transactions (deposits, withdrawals, ICO investments), allowing you to monitor your past activity and benchmark them at any point to the market prices. Doing so the platform is giving you a clean output to see whether passive approach would have brought you to better results than entering into certain investments. You can now gather all your addresses into one portfolio and never have to track any transactions between your accounts. In addition, based on your assets price volatility, the platform will show you the risk level under which you are operating and also benchmark it to the market. Your portfolio dashboard will also contain different coins quotes allowing you to time your positions precisely.
2 Layer – Social trading – As everything on the blockchain is transparent and open, our platform will enable its users to follow other users and act as they do. This way, new users will have the opportunity to follow successful traders with proven records, see their positions and live trades and act as they do. Instead of jumping to the deep water without any clue, inexperienced traders will have guidance and certain confidence on their actions. On the other hand, successful traders will be encouraged to share their activities allowing them to earn additional fees while doing their day-to-day trades making everybody earning from the process.
The second feature we are currently working on is the CopyICO. Using a smart contract, users will have the ability to designate certain amount of funds on their portfolio, send them into a smart contract and chose other person whom they desires to copy. Whenever this person will participate in an ICO, the smart contract will automatically send the user funds into the same ICO address effectively participating in his behalf. This way you can be sure you are investing in a quality ICO and also be sure to make it on time which is not less important.
So basically with the social trading layer we want the inexperienced users to follow others and they gain enough understanding take it from there on their own.
3 Layer – Marketplace – Eventually after the platform will get enough data we are aiming to become a whole marketplace where each user can use the platform not only for monitoring and ICO participating but also for executing his trades on the secondary markets, find out about profitable projects and manage his portfolio with variety of tools.
Different Blockchains
At the moment our Beta version is integrating with the Ethereum network. Although we already preformed in the past several POCs with Rootstock technology and proved the feasibility of our system running on the Bitcoin network (for those of you who are not familiar with Rootstock, they are actually implementing smart contracts on bitcoin). The same goes also for every future blockchain to come.
Platform Snapshot
This is a snapshot from our already working Beta version. Our Beta is currently being tested by almost 50 people we chose from our community in order to get some feedbacks and bring you the ultimate app out there.
Look at the portfolio we chose here, its not mine don’t get excited, we just picked a random address and in 1 simple click generated all the data you are looking at. The platform does all the price calculations automatically and provide a simple and easy to understand portfolio analysis.
So let's do a quick walk through over what we are seeing - you can see that this user had only ETH back at March 2013, since then he acquired several Altcoins (NLM,ICN and others you can’t see from the screenshot), The yellow graph represents the Market which is ETH in our case, while the pink represents the user portfolio)
So although we can see that this user made good profit in USD values, you can clearly see that if he had left his ETH untouched, his portfolio would have a much greater value today. And this is an amazing fact because must investors now are not even aware to the fact they could be earning much more money by just holding Ethereum. This kind of analysis and others we are currently working on are crucial tools for any trader but are presently missing in our ecosystem. CoinDash will save you time and effort, making investors life easy, increasing value and profit.
CoinDash Token Sale
The Token Sale is scheduled to take place in mid July and of course will be done using smart contracts collecting ETH. visit our official site and Token sale page for further details at - https://www.coindash.io/
The Team
Our team is currently based in Israel and China. Alon our CEO, based in Israel, is a brilliant developer with vast experience in Blockchain companies. His co-founder Adam runs the China office, comes from the financial industry and Fin-tech space ending now its 8th year living in Shanghai. Him having the ability to speak fluent Chinese is a major advantage we have to harness the Chinese community to the project. As we consider China a key player in the market we believe that having 2 offices both in China and the West is a big advantage that can bring us great value and a huge community support.
So thats is my take on our project. If you have any question or interesting ideas feel free to reach me on our official Slack channel here - https://coindash.io/slack
Ram