Introduction
COSS stands for Crypto-One-Stop-Solution. Just like its name says it, the project strikes to offer multiple cryptocurrency-related services under a single platform. Based on their site, these services consist of Payment Gateways, Exchange, Merchant List, Market cap rankings, Cryptocurrency listing, Newsletter and Blockchain recruitment platform.
The idea of COSS pioneered at 2016 when co-founder Rune Evensen was taking his MIT fintech courses. Since then, the project progressed and the company C.O.S.S. Pte. Ltd was registered in Singapore.
Currently the COSS project team consist of 12 members, they consists of software development team based in Romania, management team in Singapore, with branches in New York and Bucharest. You can access their profile here
What COSS had achieved so far?
1. Working cryptocurrency exchange
COSS's exchange work exactly like other competitors such as Poloniex, Bittrex, Bitfinex etc.with over 42 active markets.The user base is still growing as we can see through the trades volume here.
2. Fully operational merchant platform
As for merchant payment solutions, over 200 world-wide merchants and approximately 3300 users had registered within the platform. These numbers are impressive as COSS wasn't officially launched yet!
edit: I had personally inquiry some of the merchant within their website which are located in my country, implementation of COSS payment gateway is real and they are still waiting for confirmation and software updates.
3. Future development
Going forward, COSS has a clear vision on achieving other deliverables through various means:
- Acquisition of potential startup companies
- Strategic partnership with blockchain, fintech related companies like ARK
- In-house development.
- Incorporation of COSS as entity in different locations.
Purpose of COSS Token
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COSS token serves as a type of dividend paying token which 50% of revenues are distributed every WEEK, the main stream of such revenue are from transaction fees payed by users using:
- COSS's exchange services - 0.2% of the taker and maker's fee, and end at 0.04% derived from transactions
- Payment gateway services - 0.75% fee derived from each transaction
Pretty straightforward, more users aboard = more revenue.
To be fully eligible for the 50% revenue share, registered investors had to hold the token within the wallet with controlled privates keys.
What makes COSS unique from other projects?
1. Potential of being truly 'passive income'
Some calculation is made to assess its profitability:
Assuming COSS would collect 0.15% transaction fee from each deal, that's 0.075% for the their token holders. With fair value of COSS generating yield of 2% per year under maximum ICO valuation (USD$ 67 million), COSS needs to generate $1.8 billion in transactions per year or $5 million a day.
For payment gateway, COSS will receive 0.75% fee for all transactions and token holders will receive half of that, or 0.375%. Assuming the fair value of COSS would generate a yield of 2%, at maximum ICO valuation, COSS needs to process $357 million in transactions per year or $1 million a day.
These number aren't difficult if we look at popular exchange such as Bittrex generates $300 million volume per day and that's mean 2.2 million per day, and holding 0.0001 percent (20000 COSS tokens)of the total share would grant you $220x 7 = $1540 per week! I believe that such numbers are VERY LIKELY due to the fact that cryptocurrency was surging to a new height almost every week.
2. Already working platform
ICO nowadays are mostly selling concepts with any actual project, even though its legit, the process of observing their lengthy roadmap and new is tedious for investors that seeks for long-term profit with less effort. COSS's platform is ideal for such situation as the entire platform ecosystem is already built up.
3. Earn various types of cryptocurrencies
As we mentioned that fees are collected from exchange transactions, the revenue would consist of different coins that are traded. This means that you could enrich your coin portfolio by holding not just pure value, but perks with those cryptos as well.
Ongoing ICO Token Swap Details
After understand the perks of COSS tokens, lets have a look of its currently running ICO details :
- ICO period : 8/8/2017 to 6/9/2017
- Conversation Rate: 1ETH = 600 COSS
- Maximum market cap at ICO: US$67 million assuming current ETH price of $200
- Hard cap: 216,667 ETH (ICO contributors own 65% of total token supply if hard cap is reached)
- Soft Cap: No soft cap
Bonus structure:
First 5 days – 15% Bonus, 5th to 10th day – 10% Bonus, 10th to 15th day – 8% Bonus, 15th to 20th day – 6% Bonus, 20th to 25th day – 4% Bonus
Token distribution date:
No later than September 20, 2017
Check out their official ICO website now at https://coss.io/ico !
To learn more about the project, visit:
Official Website
Bitcointalk Forum
White Paper
Facebook
Twitter
Slack
Thanks for reading!
Written by Wayne Chong, Bitcointalk profile link