I started taking notes on ICOs that I'm looking into. Below are the notes I have from looking into CoinVest ICO.
There is no kick back link & I make nothing from your decision to invest or not. It's just sharing info I gathered not mine.
I welcome additional info that I may have missed or opinions. What is your thoughts on this ICO? I'd give them an A-.
P.S. Is it co-invest or coin-vest when you say it?
https://coinve.st/
Feb 16 – March 16
Index Fund management
Coinvest is creating a platform that allows asset managers and individuals to create customized index funds. The company is also creating a single-token trading system that allows users to trade a variety of cryptocurrencies through a single token.
Coinvest protocol: A blockchain protocol defining investment transactions between users and the Coinvest smart contracts. Supporting the protocol is the Coinvest DAPP. The Coinvest DAPP, empowers anyone to virtually invest in individual or a curated index of cryptonized assets through one coin. To do so, users create virtual portfolios and trade their favorite cryptocurrencies using market buy, limit buy, sell, and short orders. Orders are executed with the COIN token which are sent and held in escrow by the Coinvest smart contract. The Coinvest DAPP and smart contracts keep track of all investment data including assets, distributions, etc. Upon executing sell orders, the smart contract releases invested funds and any profits back to the Coinvest DAPP. Users can then spend cryptocurrencies directly from the DAPP using their wallet or Coinvest debit account. All transactions and funds are digitally automated by open-source computer code and are never touched or managed by any third-party.
It simplifies the buying/selling orders of various cryptocurrencies. With one token to trade various cryptocurrencies, users can manage and track their P&L statements in real-time.
Being able to create a customized crypto index fund through one coin is compelling. Indexes typically have higher risk-adjusted returns than sole investments in individual assets (in this case, individual cryptocurrencies). This is because index funds create broader market exposure that allows investors to diversify risk – this is strongly needed since cryptocurrencies are highly volatile.
Some risks that need to be addressed (cybersecurity and transaction costs). The company’s strong & focused vision of creating a single-token platform that’s capable of trading multiple cryptocurrencies is highly useful and needed. While there are already other companies that offer index funds, Coinvest’s value proposition is that any individual or asset manager could create a customized index fund staying in control of what coins they want.
As the cryptocurrency market continues to grow, more efficient means (a sing-token platform) to trade a variety of tokens will become a necessity. Even though Coinvest has yet to launch their platform, the product they offer will be highly valuable (provided they can fully develop the technology and execute their plans).
ERC20
holders can: buy and sell cryptonized assets, create an index fund, edit and rebalance that index fund, and close that index fund.
Based in Las Vegas. Bypasses KYC through token.
$700 = 1,100 COINS
Hard Cap $30Mil
USA based
Team - STRONG
Coinvest’s core team consists of 2 IT veterans, 3 senior professionals and 7 engineers/developers.
Coinvest has a solid tech team = well above average.
The company’s CEO (Damon Nam) was previously a 16 yr IT services veteran at Microsoft. Damon was most recently Microsoft’s US Services Partner Program Director, in which he managed approximately 75 partnerships translating to a total book of business over $90 million in revenue.
The company’s technology director, Byron Levels, has over 2 decades of experience in the IT sector and has worked for companies such as: Microsoft, AT&T and American Airlines.
The company’s advisory board consists of 2 heavyweights: Tony Scott and Peter Cashmore. Tony has been the CIO of VMware, Microsoft and the Walt Disney Company. Additionally, he served as the third US Federal Chief Information Officer. Peter is the founder and CEO of Mashable – a global, multi-platform media and entertainment company.
Pros – solid/good
Scale in user base growth would be good for the price of COIN – the primary metric for tracking growth would be daily active users (aka DAUs). As DAUs and retention increases, the rising demand for COIN (with a relatively fixed supply) would equal upward price pressure on the token.
Increases in the frequency of trading would also have a positive effect on the price of COIN. As cryptocurrencies continue to go mainstream and aquire more users that actively trade, COIN will be a significant beneficiary. The ease of using one coin to trade multiple cryptocurrencies will likely be attractive to a large volume of future adopters.
Coinvest offers the ability to create customized index funds – this will likely be a strong selling point for the asset management industry. Wealth managers will be able to create an index (basket of cryptocurrencies) to trade on behalf of clients that meets their exact needs (risk tolerance profile). Institutional investors will also be able to hold diversified positions in cryptocurrencies using Coinvest’s platform without the need to hold each token directly (thereby reducing downside risk and liquidity traps).
Cons – not that much
Cybersecurity is the biggest risk to a new exchange. Cryptocurrency exchanges around the world have been subject to a myriad of hacking and fraud attacks. Poor security and lack of investor protection could mean millions of dollars in lost cryptocurrencies if hackers targeted the company.
Technological dysfunction could lead to network latency issues that hamper the profitability of trading. During the initial stages of Coinvest’s launch, low-latency will likely not exist. Therefore, traders will incur additional transaction costs than what is currently being marketed.
Coinvest’s core team has a lack of capital markets experience – lack of domain expertise could lead to a variety of functional issues. Beyond latency issues, traders will also have counterparty risk in the form of a) faulty software and b) misappropriation of funds.