SERENITY: Escrow platform for secure trading
The First Blockchain Escrow for Financial and Cryptocurrency Markets
CEO and founder of Grand Capital, an international financial services company that has a monthly turnover of US$6 billion and serves over 300 000 clients worldwide. Stanislav is also the founder of UpTrader, a brokerage software development company. In 2009, Stanislav created Tesla Light Company in an aim to promote the transition to clean energy sources in Russia. Currently, Stanislav teaches several training courses on Strategic and Anti-Crisis Management, gives comments and interviews on the economic situation in Russia and the world to leading Russian mass media.
Co-founder of Serenity project and its COO. Anton's career spans over 11 years among the top positions in Forex sphere. For several years, Anton had been leading risk hedging department of a major broker company and later launched several risk hedging departments for other brokers from scratch.
Expert in promotion of Forex companies in Asia: China, Malaysia, Indonesia, Myanmar, India, Vietnam. More than 10 years of experience in development and promotion of partnership programs. Denis managed several successful financial start-ups and has vast experience in marketing, business promotion and independent advisory services for brokers.
Sergey's area of expertise includes blockchain technologies, smart contract development, back end tools (Python, NodeJS, Django, Flask, Nginx, PostgreSQL, MongoDB), front-end tools (React, Angular JS, jQuery, Bootstrap), mobile (React Native) and machine learning (Caffe and TensorFlow). Sergey studied at the National Research Nuclear University MEPhI in Moscow, the Institute of Cyber Intelligence Systems.
CEO/Co-founder of 7marketz Inc. Group
Yagub Rahimov is serial entrepreneur operating within FinTech ecosystem. Investing since the age of 16, Yagub is an award winning trader and a savvy Crypto/Bitcoin investor since mid-2009. Yagub has a vision that machine learning combined with the Blockchain technology will define the future of the FinTech ecosystem.
- Token Holders (85%)
- Team (12%)
- Bounty program (3%)
Cost of the token100 tokens for 0.01 eth
Price without discounts
Discounts and BonusesCrowdsale
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Relevance of the problem and Market size
Founders, Team & Advisors
Budget allocation and roadmap
Token economy, Tokenization & Business model
Distribution & Lock up of tokens, Discounts for early buyers
Summary rate the project
Rate the project by other users7
The project uses blockchain technology and intellectual contracts to become a link between brokers and traders. It's quite a relevant topic and if the project would succeed, this solution will help to create a new type of decentralized market with a high level of the transaction security.
Risks and disadvantages
The cons of the project include an not enough thought-out integration of the application into the traditional markets. And also, what can force a large number of brokers and traders to switch to the new system from the usual platforms, into a new decentralized one.
This project can be successful in the long term, but so far this solution hasn't been fully elaborated, there are many controversial points, there is no clear vision of the practical project's implementation in real markets. It's necessary to refinement carefully of all the details and realization of the application in the working markets.
Video content makes the project standout from the various projects and has more chances of being seen by the investors. The team members are experienced and dynamic, a remarkable job is expected from them in terms of pushing the team forward. The services being provide are crucial and highly needed.
Risks and disadvantages
In this particular project the token value is less and is more likely to face high risk of loss because only one digital currency is accepted. Improper allocation of fund distribution makes the whole scheme look shady and not well planed for.
Having a good website which is friendly to use also helps to portray the authenticity of the project. Trading is a major criteria for this projects success because its needed and will have allot of people using this platform which makes it a good and profitable investment venture. Creating awareness through social media will enhance its success.
The early buyers of tokens are issued bonuses which will bring in lots of investors to in order for them to utilize this opportunity. Giving out bounties will improve on the awareness of the project through various media platforms.
Risks and disadvantages
However issuing of high bonuses creates an unnecessary increase of token circulation in the market after the token is put on the exchange which makes investors sell of their tokens expensively to those that missed the ICO sales hence creating the loss of its value.
Vesting of the tokens held by the team members under smart contracts will build confidence and trust in the minds of the investors and thus they will be more willing to invest. The volatility levels in the business of cryptocurrency are extremely high and therefor minimizing should be key aspect for the team to focus on because its what the investors aim at. The presence of a well functional and experienced team will see this project to the top.
Risks and disadvantages
Risks and disadvantages
Risks and disadvantages
Fixes the whole history of trade in a blockchain, without the possibility of change, plays the role of arbitrator in the disputes of the broker and the client.
Risks and disadvantages
As the platform is based on Blockchain, this sphere is relatively new and not fully regulated yet. There are no guarantees that the company will be function with no frauds.
I see the following project as a successful one, as it is already have demo version of the platform. And it was supported by large brokers from the forex and binary options, such as Iqoption, Liteforex, NordFx.
What's in it for traders?
1.Secure trading with foreign brokers
2.The fact that all trades are recorded in blockchain and SERENITY acts as an arbitrator in disputes and is able to influence withdrawal of funds by brokers makes SERENITY a megaregulator of the industry without being connected to any jurisdiction. It guarantees protection of funds for traders from any country.
3.Client funds are put on smart contracts
4.A trader transfers funds to a smart contract. The broker provides an equivalent in the account currency. Smart contract is created the way that access to client's funds is given to a trader or to a broker. The funds become "unfrozen" at the moment when the client submits a withdrawal request.
5. Transparency of trading transactions
6. All trades are recorded in blockchain. It obviates the possibility of backdated transactions.
7. Fast deposit/withdrawal of funds with any broker
8. Deposit/withdrawal of funds is standardized and is carried out through the platform and Serenity tokens
9. Single verification
10. Ability to switch easily between brokers thanks to a single verification (KYC) with SERENITY
11. Independent arbitration of disputes
12. All disputes are dealt with in a civilized manner with the assistance of an independent arbitration committee and use of data from blockchain
What's in it for brokers?
2.Participation in the Serenity project demonstrates the company's transparency and elevates the level of customer trust
4.New clients are easily attracted thanks to the fact that all trades are under control and the funds are secured.
6.Clients of participating companies are protected from unlawful actions of brokers by blockchain technology
7.Transactions at no cost
8.For brokers, deposit and withdrawals through SERENITY are 100% free as they are covered by the client who pays for protection of funds.
PR and promotion
9.Serenity budget includes marketing and PR spend for promotion of participating companies
Which countries or nationalities are eligible to purchase Serenity tokens?
Citizens of any country except USA and Singapore may take part in the project. According to our policies, terms and conditions, citizens of the above-mentioned countries cannot take part in the crowdfunding campaign.
I transferred BTC to your account, but while the transaction was being processed, ICO ended. What will happen to my BTC?
If the BTC is transferred to the project's wallet after the ICO is finished, it is returned to the sender's wallet according to the current exchange rate with no conversion. For example, after the ICO is completed, if the project wallet is funded with 1 BTC, the same amount will be returned to the sender's wallet, disregarding the BTC quote at the moment the BTC was sent. To prevent such situations, we recommend setting the appropriate transaction commission for timely processing and considering the ICO timeframe. The same process will be activated for any other cryptocurrency.
What is the minimum target? What happens if the required amount is not raised?
Minimum target equals $2 million. If the amount is not raised, we will return all the raised funds back to the wallets of the crowdsale participants.
When will the bounty payouts take place?
Bounty payouts will be paid to the participants within one week after the ICO.
When will your tokens be listed on exchanges?
We plan to list Serenity tokens on several major exchanges within one month after the ICO.
How will you record all transactions on the Ethereum blockchain? It is very expensive.
1.We will not record each trading operation on a separate smart Ethereum contract, thus, records of transactions will occur in a classical database, but with the help of a digital signature. This will prevent fraud from brokers in relation to trade. The record will be maintained both for brokers and customers. In this regard, each client will have their own trading history.
2.At the same time, a hash of the database will be sent to the Ethereum contract, which will be recorded every hour. Should a controversial incident occur, it will be enough for us to verify the current hash and the one that is written in the block. If it has changed, we believe the broker has intervened in the transactions and takes a decision against the client. After the automatic arbitration, the client and the broker have the right to submit to a manual arbitration, executed by an independent mediator.
How are you going to receive data from trading platforms? Who will give them to you?
Those who wish to protect themselves will provide us with access to their trading operations information. In this case, the entire history of trades will be hidden from the public, unless the client chooses to engage in a public dispute with the broker.At the same time, it will be enough for us to receive information from the client database.Additionally (with respect to the platform), we have received feedback from brokers who are ready to provide access to their part of the database, increasing their level of transparency.
Why do you think that brokers, especially those who work on the principle of earning from the losses of the client, will want to work with you?
We do not interfere with the broker's business model with its current customers. We offer traders security and transparency in their interactions with the broker through our platform. At the same time, we will create a stream of clients for brokers and give the broker the opportunity to earn not on fraudulent schemes, but on transparency.Without us, they simply would not have these customers. We do not force them to change their business model, but we give them an additional opportunity to earn money.
Will licensed brokers work with you?
Our future plans include working with jurisdictions with clear rules and understandable processes of interaction between the broker, the client and the regulator. Our platform is capable of giving regulators the technical capabilities to pursue preventive policies that will give a new impetus to the formation of OTC markets. We are positive that licensed brokers will want to work with us because we will become an integral part of the community of traders and give a whole range of technological solutions: starting from liquidity distribution and finishing with payment systems.
Which blockchain will you use?
At the current stage, we will use Ethereum smart contracts. Additionally, we are not platform or instrument dependent (we are not tied to a particular platform or instrument in the blockchain). We will use the one that best meets our requirements for speed, reliability, and cost.
Why do you need blockchain in your project?
Blockchain in our project solves several important tasks at once: first, we create a depository with segregated accounts on it; secondly, we write down information on the trading operations of clients; finally, we use it to facilitate the sale of tokens to the ICO. An important aspect of blocking technology is transparency. With the help of blockchain, customer confidence in the broker is significantly increased.
You claim the platform protects traders against fraudulent brokers by storing funds on smart contracts. What are the guarantees that you will not take the funds and close shop?
The smart contract used in the system will have an open code. This will include a special clause: only a broker or a trader will be able to receive the funds, depending on the financial result of the trading operation, which will be recorded within the platform. It means that no third party will be able to access the funds, including us.
What is manual arbitration? How will dispute resolution look like?
We will have two types of arbitration: automated and manual. The former will happen based on the information stored within our platform and the trading platform records. Manual arbitration implies a public trader-broker dispute resolution. This process will be based on the platform data and with the help of external mediators. The decision will be final and will affect the settlements in the system.
Do you have a prototype?
Our platform unites a number of serious tech solutions in a single system. Some parts of the technology already exist and are being employed. As of now we have a cryptocurrency exchange prototype and quotes verification system prototype.
Why is your Hard Cap $19M?
$19M includes all the technological developments, legalization of the company in the needed jurisdictions (UK, EU, New Zealand, Australia, Malaysia) plus the required capital, marketing and sales. In each of the countries where we will have a license, we will need to meet the capital requirements and in some countries (e.g. UK) we will need to have a hedge fund for liquidity.