The Fever about cryptocurrency is increasing, people have heard about it, and more and more people want to find more about it, and find a way to be a part of it. When blockchain technology came, so many things changed, for better, we say. So many businesses have improved, so many companies have started using crypto currencies in their work. The new ideas are coming every day. People want to invest in the new projects. We have the biggest tool in the world, and it is called the Internet. The internet is an enormous base of information where we can do anything. Internet has connected the entire world.
Because of the access to the internet we are able to get information about one of the most incredible crypto-project which is known as cycoin
Cycoin is a platform that will manage a basket of crypto assets and currencies on your behalf - so you don’t have to. Cycoin is an ERC20 token based on the Etherium platform bringing all of the established transactional, privacy and security benefits of proven block chain technology to Cycoin holders. Cycoin is a wealth coin, holders will receive an asset backed coin with access to monthly income and quarterly capital distributions delivered as income. 50,000,000 Cycoins will be issued and will be listed on external exchanges after completion of the ICO.
The Vision
Cycoin aims to provide new as well as established investors access to the cryptocurrency investment markets with a dependable and easy mechanism to hold a pool of cryptocurrencies which will deliver an income stream, without the headache of scouring through hours of research and manual investing. The aim is to use tried and observably low risk investment strategies to simply deliver income reward to holders of Cycoin.
The Mission
The objective at Cycoin is to create a tailored coin democracy delivered through on chain and off chain structures. Using the block chain as one mode of governance, to set the rules of governance and drive the voting system as impartial, immutable, provable and efficient. This is the on chain governance component. This couples with off chain governance structures serving to create an unbreakable bond between the coinholders and the asset of the coin (i.e. coin investor funds) as well as linking to the on chain governance system. When these work in tandem, control remains with the coinholder, as does the beneficial entitlement to the asset of the coin. This outcome creates the Cycoin democracy.
The Reason for CYCOIN?
With so many new cryptocurrencies emerging, it is very time consuming to determine which coins are the real deal and which ones are not. Some of them are real and promising but have a huge task ahead before their idea is proven real. This is risky stuff. Rather than promising frankly ridiculous potential future income and capital benefits that so many coins are trying and many eventually failing to do, CYcoin offers rational, understandable, real income deriving investment strategies conducted through established mechanisms already evident in the crypto markets. The funds CYcoin raise will be invested into crypto currencies, so your money won’t be travelling anywhere other than as established in the criteria herein.
How it will work?
Cycoin is an asset backed coin, backed by the pool of cryptocurrencies held. Cycoin holders will receive voting power over the cryptocurrency assets held by the Cycoin company (see Coin Democracy). CYcoin will hold selected currencies that are established and real (usually in the top 100 by market cap) to take advantage of arbitrage opportunities that arise periodically in the crypto markets and top ten by margin lending currencies. CYcoin will also allocate a portion of the fund to invest in curated pre-ICO’s and ICO’s carefully scrutinized and selected by the team and external professionals in the crypto markets.
Fund Criteria
The funds CYcoin raise will be invested into coins that are listed on exchanges which provide margin lending facilities, such as Bittrex and Poloniex. Funds will also be invested into arbitrage opportunities where reasonable price differences are evident between one exchange and another and sufficient trading volume is apparent.
A signals app is in development to help identify good arbitrage trades and 5% of the fund will be reserved for development, legal and startup costs. The fund will also invest into select initial offerings of coin called pre-ICO’S and ICO’s.
The initial investment of the fund will be to purchase and then lend the pool of coins held through a number of exchanges to immediately start earning income, until arbitrage opportunities are apparent and also while CYcoin sort through attractive Pre-ICO and ICO opportunities.
About The Coin Democracy
Coin Democracy exists to provide confidence and security to the Cycoin holders. It is the link between the entity which holds the pool of cryptocurrencies backing Cycoin and Cycoin holders, giving you real power over your investment.
The asset backing is set in stone by virtue of Cycoin coin democracy. After completion of the ICO, the following legal and technological processes will be undertaken and implemented on an ongoing basis.
All of the crypto assets behind Cycoin will be divested by the Cycoin company into a trust and the beneficiaries of the trust will be Cycoin holders. This means the Cycoin company does not own the crypto assets backing Cycoin, effectively you do.
Cycoin will establish a democratic voting system within our blockchain where each Cycoin will be entitled to one vote. Voting will govern what is done with the crypto assets with a majority vote deciding.
This structure has been put in place as a safeguard to Cycoin holders so that if anything goes wrong to the extent that more than 10% of the crypto assets backing Cycoin are lost for any reason, Cycoin holders may vote to distribute all of the crytpo assets back to Cycoin holders. It a mechanism designed to ensure control of the assets remains with Cycoin investors.
This innovation has not yet been done in the cryptocurrency markets and is an all time first for Cycoin. This mechanism is designed to give effect to real asset backing and real control to investors over the fund.
It is also designed to give the ability for Cycoin holders to a cast a vote on any new initiatives introduced for benefit Cycoin holders.
Cycoin Governance System
The Cycoin democracy design is shown below:
This design will create a process whereby investor holdings of Cycoin are backed by crypto assets over which investors can exert control and the effect of that control is legitimised and effected via smart contracts built into the Cycoin block chain. The outcome of a vote is instrumented through the smart contract design, mandating the deliverance of the vote decision.
Token and ICO Details
Cycoin is an ERC20 token based on the Etherium platform bringing all of the established transactional, privacy and security benefits of proven blockchain technology to Cycoin holders. Cycoin is a wealth coin, holders will receive an asset backed coin with access to monthly interest and quarterly capital distributions delivered as income.
The asset backing formula is an innovation that has not yet been done in the cryptocurrency markets and is an all time first for Cycoin. The mechanism is designed to give effect to real asset backing and real control to investors over the fund in the event that things go wrong. 50,000,000 Cycoins will be issued and will be listed on external exchanges before or at ICO.
Cycoin Tokenomics
Token price: 1 CCY = 2 USD. Bonus applies depending on the date of purchase.
Accepted forms of payment: BTC, BCC, ETH, LTC, Credit Card, Paypal
There is no KYC requirement for Pre-ICO participants
KYC required for ICO participants
Token transfer: CCY tokens will be created during the two week timeframe after completion of the Pre-ICO and before the commencement of the ICO and transferred to Pre-ICO purchasers through a smart contract just prior to the start of the ICO stage. Purchasers can collect their CCY tokens via the Event portal, after the ICO has been completed and you have received an email from Cycoin (within 4 weeks from the end of the Pre-ICO event), that CCY Tokens are available for collection.
Token emission: Limited to 50 million CCY tokens. The will be no increase in the number of CCY tokens available.
Hard Cap: The Hard cap for the Pre-ICO is 1,000,000 CCY.
Pre-ICO: 2,000,000 USD (Hard Cap value)
ICO: 50,000,000 USD (Hard Cap value)
Timing: All token sale phases start at 9.00 a.m. UTC-5.00 and end at 5.00 p.m. UTC-5.00
ICO
Start: 24 October 2018
End date: 20 November 2018 or until the hard cap is reached.
Bonus: 20%-5%
Token price: 2 USD
Hard cap: 50,000,000 USD
About The Cycoin Wallet
A multicurrency wallet (BTC/ETH/CCY) will be developed and distributed to Cycoin holders. The wallet will connect with the Cycoin blockcahin and will synchronise with the chain as transactions occur.
Cycoin holders will be required to install a Cycoin wallet and have the wallet connected to the Cycoin block chain in order to receive income distributions. Distributions of income will only be delivered where a wallet is open and synchronised with the Cycoin block chain.
Unsynchronised wallets will not receive income.
ROADMAP
MEET THE AMAZING TEAM
Be a part of this incredible project. Download the whitepaper for the full scoop.
Till next time…
For more information, please visit:
Website: https://cycoin.co/
Telegram: https://t.me/CycoinOfficialGroup
Twitter: https://twitter.com/Cycoin1
Facebook: https://www.facebook.com/cycoin/
Medium: https://medium.com/@marko_88512
Author : Maniecool
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1692995
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