Is there a risk that the token will be considered a security? meaning if there is no way to use them (alfa, beta,...) it is not a clear utility. From my understanding that is the reason why several ICOs either has postponed sales or did like wanchain (distributed an interimntoken which is not tradeable) until their platform can be launched.
The token can’t be deemed a security - it is simply a tool for powering Ethereum smart contract operation. For some case we are consulting with our lawyers all the time
@genesis.vision, is there a chance that you will show a pre-alpha during ICO ? Most projects this days show a demo/pre-alpha before/during ICO, I think it's important, there a lot of ICOs right now, only trustworthy ones gain popularity/trust
Alpha version will be launched in the first quarter of 2018
history? may be you can make live statistic?
Let me explain. During the reporting period, the manager trades on his or her trading platform with the amount of funds
available at the beginning. The history of its trading is unloaded from the trading platform and recorded in
IPFS in real time.
I think successful traders will be well-known soon so there is no use in live statistics. Will the trader be able to communicate with his supporters?
We will make a featuring list. And it's issues will be realized on demand.
I think that there will be some kind of ranking system and traders will have special channels to communicate with investors and post some updates/spreadseets, etc.
Regarding rancking there are 7 levels in total, with the first-level manager maximum investments capped at 1 000 USD ( in GVT equivalent) plus a first-level manager must invest 1 000 USD of his own money. For comparison, manager of a maximum trust level can receive investments up to 1 000 000 dollars.
After finished Reading the whitepaper I am curious about some of the challenges with etherium that you point out, especially the scaling/performance issues. However as we expect to have them solved in 2-3 years you might run into problems depending on the Projects success. You mention that you have looked at other chains that would be possible to transition to, out of curiosity would you mind telling which chain(s) that would be most probable to transition to?
There are some interesting existing chains to transition to and much more are under development. As far as it hard to predict future of blockchain in half a year we haven't choosen a specific chain to transition to yet.
So when the manager themself can choose the length of the reporting period, can they choose freely or will the platform itself have specific time frames, like 1 week, 2 weeks, etc.? Is there any limitation for managers or could they just say like 8 weeks and then it is like this?
There are will be variants for managers to choose in the platform.
I would like to ask the team to elaborate on which key challenges they will meet to ensure mass market adoption and how they plan to overcome these. Please note that I dont mean the technical challenges as outlined in the whitepaper but rather Incentives models, (broker, manager, Investor)-interest etc. thanks
Genesis vision has a detailed plan for capturing the market. First of all: Tools For Brokers (a company of Genesis Vision co-founder, Alexey Kutsenko) already sells a similar centralized solution that is installed in the environment of a particular broker. This software was purchased by more than eighty different companies around the world. The total turnover of funds through this trust management system amounted to more than $100 billion.
As soon as alpha version of Genesis Vision is launched (1Q 2018) our first goal is to attract these existing clients.
Average investment per month in retail FX market is about 1000 USD(500-2000 depending on the region). According to statistic I have, total traded amount in a month close to 5x times of the deposit, which means 5k USD (traders opens/closes trades, so total turnover will be around 5k USD per 1 investor per month).
Our goal is to link at least 10-15 brokers to the moment of the release, and it should bring us 10,000 – 15,000 investors into our system.
So total expected turnover in first months will be around 50,000,0000 – 75,000,000 USD.
I would like to point out that this turnover already exceeds the GVT capitalization during the ICO, so we expect GVT growth in value.
Are there some star traders you guys plan to bring on the platform while starting up?
Of course we are planning that with starting of the platform a lot of successful managers will begin their work in Genesis Vision. However all the managers will start from a scratch.
True, activity in the thread would be nice, but also some marketing is needed for this. I don't think I've seen any banners or commercials on social media for this project.
Thank you, we will enhance our marketing!
I read that the number of tokens is limited to 44.000.000 and total token sale is 33.000.000. What happens to the rest of the 11.000.000 tokens?
44,000,000 tokens will be created in total, of which 36,960,000 (33,000,000 for sale, 3,960,000-marketing, advisers and bounty) will be distributed to the ICO participants, 2,200,000 will be reserved for a fund and 4,840,000 will be circulated among the team.
I saw that dev wrote that there is not a soft cap.
Did he mean, we hit hard cap or else we will cancel the project.
Or
We are going to make project real regardless of the funds.
The logical thinking is the second one is. But if it was the issue he should have said, we already hit the soft cap. Anybody have any ideas?
Yes, we don't have a soft cap. Even if we don't reach a hard cap we are not killing our project. The budget and components are planned, assuming that our fundraising efforts will reach the estimated maximum amount. Otherwise, a part of the components will have to be abandoned, and the budget will be reduced for the remaining features.
How much will receive investors from his invested money, how much trader and which your comissions? ( I mean in % from profit)
Each manager will set their comission terms. The profit, received as a result of management of the total funds, is shared proportionally between the managers and investors. Managers receive a commission for management and a commission from the profit (success fee). Investor receive part of the manager's profits,
according to their share, minus the manager's commission and fee.
The project will receive profit from commissions on investment operations. Each investment will be charged 0.5% of the operation amount.
Is this platform available for use by citizens of the United States? What about the ICO, can Americans invest in this platform, or are these considered security tokens?
The platform will be serving worldwide. If it will be necessary we'll get license for legalization of our activities
Only 2.3 mln for main ICO? Which hard cap for pre-sale and ICO?
We hadn't a pre-sale hard cap. Our pre-sale was in form of Options sale. So $2.3M is the equivalent value of GVT, reserved for the ICO stage. A hard cap of ICO is 33.000.000 usd
What does the use of blockchain technologies or token brings in compareason to others platforms like 1broker ?
Implementation of blockchain will allow trust management market to achieve transparency and efficiency on the technological level. This will help to regain the trust to the market. Besides that, it will attract the attention of new companies and the investors of the new digital generation.
Will all managers start at trust level 1, that is with a maximum investment pool of 1,000$ worth of GVT, when the platform will be launched?
Level 1 managers are required to have at least 1 000 USD in GVT equivalent of their own funds on the platform and their maximum investment pool can be only 1 000 USD worth of GVT.
