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Covesting

Ended
Ended: Jan 15, 2018

Covesting is a Blockchain based peer-to-peer asset management platform

Investors from around the world can compare the performance of hundreds of successful digital asset managers and mirror their trades automatically.

Blockchain based peer-to-peer asset management platform

Copy-trading platform for crypto currency markets. Peer-2-Peer Digital Asset Management Platform Combined with the most complete infrastructure for investors and traders

Covesting is a Blockchain based peer-to-peer asset management platform. Investors can easily browse through dozens of trading strategies, provided by professional crypto currency traders and subscribe to the ones matching their goals. Thanks to technology-based solutions and smart-contracts, Covesting platform allows its users to replicate trading activity of a chosen Model directly into their segregated account at Covesting. While Model managers benefit from success fees generated by profitable trading – Investors enjoy peace of mind knowing that their funds being managed by industry professionals. How does the project create value to the ecosystem and differs from competing projects: Covesting Platform creates a synergized ecosystem that brings investors and crypto currency traders together. All parties benefit from Covesting platform: money managers and traders get access to the new audiences and sources of additional income, while investors get a broad range of trading strategies to choose from and ability to analyze historical performance in order to make the right investment decision. With Covesting platform, every “street” trader can start a career of a professional digital asset manager.

Covesting Platform creates a synergized ecosystem that brings investors and crypto currency traders together. All parties benefit from Covesting platform: money managers and traders get access to the new audiences and sources of additional income, while investors get a broad range of trading strategies to choose from and ability to analyze historical performance in order to make the right investment decision. With Covesting platform, every “street” trader can start a career of a professional digital asset manager.

Decentralized peer-2-peer asset management platform

Copy-trading Platform for cryptocurrencies

Copy-trading platform for the crypto marketplace

A Blockchain based peer-to-peer asset management platform. Investors can easily browse through dozens of trading strategies, provided by professional crypto currency traders and subscribe to the ones matching their goals.

Website

covesting.io

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Intro Video

ICO Details

Ticker Symbol:
COV
Platform
Ethereum (ERC20)
Accepts:
ETH
Soft Cap:
2,000 ETH
Hard Cap:
25,000 ETH
Company:
Covesting.io
Country:
Gibraltar
KYC:
face
Total supply
20,000,000 COV

Public Crowdsale

Ended
Date Sale:
Nov 24, 2017 — Jan 15, 2018 @ 52 days
Sale Avalable Tokens:
165,000,000 COV @ 825.0%
Price:
1 COV = 1.44 USD (0.00192 ETH)

Token distribution

Additional PR undefined Marketing expenses 35.0%
Product development team: 65.0%

ICO Overview

Covesting is a cryptocurrency-focused trading and information platform aiming to bring a range of new tools to crypto traders and investors. Specifically, its peer-to-peer trade-following model, where traders can present strategies that investors with accounts on the platform can subscribe to and follow, will allow investors to access advanced trading strategies. Covesting will support this service and broaden its appeal by integrating an advanced trading platform with a crypto news and intelligence platform. Covesting’s token sale seeks to raise up to 25,000 ETH through the sale of 15 million COV tokens.

What is the project?

Covesting intends to become a leading asset management platform in the crypto space by offering investors and crypto traders the opportunity to spend COV tokens to follow the trading strategies of professional traders through a copy-trading model. Traders will present specific strategies, accompanied by historical return data, that will allow investors to choose both trading approaches and specific allocation amounts relative to different strategies they might follow. Once an investor elects to follow a strategy, COV tokens will serve as payment for access to the trading signals, while funds allocated to that strategy will be placed in a segregated account. The segregated account is not an escrowed smart contract but a third-party maintained account that ensures the designated funds are not in the possession of a trader being followed. Itt will be programmatically traded according to the signals generated by the chosen strategy. Any gains from chosen strategies will be split between the investor (72%), the trader (18%) and the Covesting platform (10%).

Beyond the appeal of this service, particularly for small investors who would otherwise be generally unable to access sophisticated professional trading programs which are often held within hedge funds or other vehicles with restricted access, Covesting intends to further increase the appeal of its site through two measures. One is the creation of an advanced trading platform that will connect to a range of cryptocurrency exchanges, thereby offering increased liquidity and a wider range of trading vehicles than individual exchanges might offer.

The second is the creation of its crypto-intelligence service that will host news, commentary, and discussion for crypto traders and enthusiasts. If successful, this should presumably allow Covesting to develop a community of users on its site and help create an audience for the trade-following service that will be its primary revenue generator.

What is the Token Being Sold?

Covesting’s ICO will see up to 15 million tokens offered for sale, with a hard cap of 25,000 ETH. As described, the ERC-20 COV tokens will serve to acquire access to trading programs within the Covesting platform. In addition to providing access, the underlying smart contract governing the tokens will accrue revenue from fees generated on the site–specifically the 10% fee on trading gains when investors are subscribed to particular trading strategies, as well as a 2% fee at the time funds are allocated to a strategy. While funds from the token contract will not be returned directly to token holders in the form of dividends, 50% of fees entering the token contract will be allocated to the repurchase and burning of tokens, thereby reducing the token pool with the intention of increasing the token price.

The 15 million tokens available in the ICO represent 75% of the total token supply, with 13% reserved for the Covesting team, 7% for the pre-ICO contributors, and a further 5% for advisors and bounties. 40% of funds raised in the ICO will be allocated to development of the platform and research into potential high frequency trading operations that Covesting intends to develop. 25% of ICO funds will be dedicated to marketing and customer acquisition, with an additional 30% for initial capex including licensing and operations. In terms of a roadmap, Covesting has an existing MVP of its application and user interface, and intends to present a beta version of the trade-following system in March 2018, with a beta version of its trade platform targeted for July 2018.

Who is the Competition?

The general space into which Covesting is entering has been a relatively busy one, with 2017 having seen considerable interest in the range of finance, asset management, trading, and exchange related ICOs that, broadly speaking, overlap with elements of what Covesting is attempting to achieve. This range of ICOs illustrates the extent of market interest in the space, particularly as many such offerings have raised substantial funds. While the space could be considered a somewhat crowded one, it does appear that Covesting’s relatively novel approach of a trade-following platform hosting strategies by professional traders and crypto-funds, combined with what could become a comprehensive news and education center attracting traders and investors to the site, creates a path within which Covesting could potentially carve out a successful niche.

Unlike BlackMoon Crypto’s efforts to create a fund management platform that effectively brings blockchain infrastructure to an established industry, with an objective of attracting both existing fund managers and the existing audience of hedge fund investors to its own platform, Covesting’s objective of allowing individuals to follow managers with even modest amounts of capital promises a platform that will be considerably more accessible. Likewise, compared to NapoleonX’s sophisticated algorithmic strategies largely targeting institutional investors seeking crypto-based exposure to a range of traditional and crypto assets, Covesting’s exclusive focus on crypto and, generally speaking, on a target audience that will likely take shape as a more retail clientele, also appears as distinct.

There are also questions about Covesting’s prospects that will be worth monitoring, both for their insights into the company’s progress but also relative to the broader evolutions of the general crypto markets. Specifically, with a 2% upfront fee and effective 28% performance fees, return models look to be lower than the with traditional ‘2 and 20’ model of hedge funds. Whether the ease of entry and exit into Covesting’s trade-following agreements, and the lack of investment minimums, are considered to outweigh these fees remains to be seen. On the other hand, whether top professional managers will themselves consider presenting their strategies on the Covesting platform, when good strategies could presumably be monetized in a variety of manners, is also worth considering. In the best case, where both investment managers and high net worth individuals begin to migrate to the platform–a move which would only be plausible if the highest quality strategies are made available on CoVesting’s platform–then a scenario where Covesting begins to attract funds that might otherwise be destined for a manager like Blackmoon Crypto becomes imaginable.

Who is the team Behind the Project?

Covesting is led by a strong team with a range of relevant financial industry background. The project has three cofounders, Dmitrij Pruglo, Tim Voronin, and Dinis Guarda, all of whom have experience trading traditional assets with established European firms. In addition to a range of fintech and related industry experiences, the three share a background of having worked at Saxo Bank. They are supported by a diverse team with experience in markets and technology that should prove adequate to the challenges the project will likely face. Of note, blockchain lead Alex Strakh has experience with Solidity and has developed smart contracts for several projects. A diverse advisory team with financial and blockchain expertise suggests the team will be able to acquire resources and address developing challenges as the project evolves.

Project Details

Token Details

Sale Details

Covesting is a Blockchain based peer-to-peer asset management and copy-trading platform. Investors can easily browse through dozens of trading strategies, provided by professional crypto currency traders and subscribe to the ones matching their goals. Thanks to technology-based solutions and smart-contracts, Covesting platform allows its users to replicate trading activity of a chosen Model directly into their segregated account at Covesting. While Model managers benefit from success fees generated by profitable trading – Investors enjoy peace of mind knowing that their funds being managed by industry professionals.

About Covesting Covesting platform helps investors and professional digital asset managers find each other. Thanks to cutting-edge technology, Covesting allows its users to replicate trading activity of a chosen strategy directly into their segregated account at Covesting. While asset managers benefit from success fees generated by profitable trading – Investors enjoy peace of mind knowing that their funds are managed by industry professionals Mission To help investors from around the world enjoy professional asset management services, by bringing copy-trading platform to the digital currency markets. How it works Users can easily browse through dozens of trading strategies, provided by professional digital asset managers and subscribe to the ones matching their goals. Platform allows to get an overview of each strategy, access real-time and historica trading performance, read reviews and even ask questions. Each member can diversify investments by following up to 20 different trading Model with individual risk management for each distribution. Consolidated, real-time reporting enables investors to get a full picture of all investments at any time. Instead of spending time on looking for clients, asset managers and crypto traders instantly get access to the combined capital of all Covesting community. Each trader can easily setup a trading Model and earn additional income by allowing others to copy their trades. The more successful trader is, the more Followers he or she will be able to get and more money to make from profitable trading. Fund managers and traders have access to a variety of reports about every aspect of their trading, revenue and Followers - all in real-time.

Covesting Platform creates a synergized ecosystem that brings investors and crypto currency traders together. All parties benefit from Covesting platform: money managers and traders get access to the new audiences and sources of additional income, while investors get a broad range of trading strategies to choose from and ability to analyze historical performance in order to make the right investment decision. With Covesting platform, every “street” trader can start a career of a professional digital asset manager.

Telegram members

Hype ICO Stats

Team

Paul Hinrichsen
Business Development
Ivan Sologub
Marketing and PR
Ivan Klykov
Investment Products Development
Aleksandr Strakh
Smart contract developer
Peter Kristensen
Head of Markets and Investor Relations
Simon Choi
Sergey Sevantsyan
CIO, CTO
Tim Voronin
Co-founder, COO
Timofej Voronin
COO
Zeeshan Mallick
Chief Marketing Officer
Philipp Kallerhoff
Andrey Gromak
Konstantin Zherebtsov
Information Security and Compliance
Aleksandr Strah Smart Contract Developer
Smart contract developer
Andrew Nenadov
Project Manager
Ivan Sologub Marketing And Pr
Marketing and PR
Mounir Fallah
12+ Years of Brokerage and asset management Experience.
Max Sayganov
Digital Marketing Strategist
Mike Bishop
Advised on multiple high profile ICOs including CareX Health Network, LAToken.
Konstantin Zherebtso...
Information Security and Compliance
Alexander Perkins
Andrey Zaveriukha
Business Development
Aleš Tomažin
Vlad Dobrov
Alex Strakh
Blockchain Lead
Dmitrij Pruglo
Founder, CEO
Dinis Guarda
Co-Founder

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