CoTrader ICO Review, Rating and Complete Analysis

CoTrader ICO Review, Rating and Complete Analysis

Overview

Investing is one of the major factors of the cryptocurrency market at the moment. But with so many options out there and risk of security, it could be an intimidating task. Now, to democratize the $85 trillion global investment funds industry with blockchain, a new ICO, CoTrader is entering the market. With this blockchain platform, users can manage their investments with transparency, proof of past returns-on-investments (ROI) of a fund, and control of assets.

CoTrader: The Uber of Investment Funds

This smart funds platform is the world’s first working blockchain investment funds marketplace that is here to democratize the $85 trillion global funds industry. With the idea to empower people, it allows anyone to become a fund manager and to join these crypto funds.

CoTrader is a protocol that supports cryptocurrencies, ICO stocks, derivatives, and shorts among all the other tradable assets through its escrow exchange. Its transparent smart funds enable people to verify the achieved performance of traders and their fees.

Moreover, the patent-pending anonymous funds protocol further prove the ROI of fund managers but without revealing their trading strategies.

  • A Detailed Whitepaper

CoTrader provides clear information through its precise whitepaper. With a simple and to the point feel to this document, it’s easy to capture the different facets the project is trying to convey.

The whitepaper further provides information on the budgeting of the funds so collected where 25 percent of the funds go for development and marketing. Administration, incentive, and legal department gets 10 percent each. The remaining 20 percent will go to Join Ventures.

The most promising part is the MVP which is already available and supports cryptocurrencies. MVP is live on Ethereum at testnet.cotrader.com and on mainnet at mainnet.cotrader.com.

  • Global Team profile

A team of 18 people combined with the founder covers sections like Blockchain developer, R&D, consultant, outreach, community, marketing among others.

Gary Bernstein – Founder and CEO, Keeping up with the blockchain since 2011, with CoTrader, Gary brought world’s first working referral system on the blockchain. A serial entrepreneur, his professional background is in technical and executive roles. As for educational qualification, it’s Computer Science from the University of California, Santa Barbara.

Eliezer Steinbock – CTO, Having led the Draft Fantasy as a CEO and Ethereum-based CryptoFighter.io, a collectible game, Steinbock has previous experience of both as an entrepreneur and a blockchain developer. With a bachelor’s degree in Computer Science and a minor in Mathematics, he served as a developer in the Israeli Defence Forces as well.

Looking at the team, it can be said the focus of the company right now is on community and consulting departments.

  • Business Model: COT Token

The business model of CoTrader comprises of earnings from investment gains, a percentage of trader’s performance fee and small fees such as on trades on CoTrader DEX.

When it comes to CoTrader (COT) tokens, they are required in order to hide trading strategies. One can also invest in a smart fund by depositing COT tokens into the fund. Additionally, they can be bought back with profits.

  • Backing Technology: Mainnet Launched

CoTrader has already launched its mainnet and is live on its own platform. However, the smart funds that are the core of the CoTrader platform is an Ethereum smart contract that has investors, fund managers, and shares that can be traded. These smart funds implement the ERC20 token interface that further means smart fund shares can be traded on exchanges akin to ERC20 tokens.

  • Crypto-Sale Resiliency

The project offers bonuses while requiring participants to submit their KYC documents to fulfill the legality measures. As for the countries excluded from entering the sale are the USA, North Korea, and Iran.

Token Distribution

The website of the company provides a clear picture of the distribution of tokens as out of the total 20 million COT tokens (initial token supply), more than half i.e. 65 percent is for user acquisition. 20 percent of these tokens is for operations with 4 years vesting time period. The team will receive 10 percent of the tokens with 4 years vesting as well while the remaining 5 percent covers air and bounty among other programs.

With the hard cap of $1 million that is 5k ETH whereas the crowdsale price is 1 ETH = 1,400,000 COT.

Through a decentralized exchange, the focus of CoTrader is providing a security advantage to its users. The platform has already integrated Kyber and Bancor, both decentralized exchanges and will further include only DEX exchanges to ensure users’ full security.

Additionally, to offer an extended measure of security, a master account to hold all the tradable options while an onchain escrow smart contract can record owed assets and investors operations.

  • Community Acceptance

The project team is quite active and enthusiastic about their project and is available on a number of social platforms to reach its vast audience. From LinkedIn, Twitter, Medium, Youtube to Reddit, TelegramFacebook, and GitHub. CoTrader has a vast presence on the social platforms as evident from the fact that it has over 70,000 members on Telegram, more than 45,000 followers on Twitter, about 21,000 subscribers on Reddit, 30,600 on YouTube, and 40,000 followers on Facebook, the focus on community is surely paying off for the company.

  • Roadmap

Stage of Project:

For right now, the company has shared only the major steps in its roadmap. They started with just before mainnet launch in January to June 2018 to moving to the after mainnet phase. In June this year, the CoTrader went live on Mainnet proceeding to Goto market.

Currently, the project is at crowdsale stage while the next month will see them supporting more DEXs.

A note to investors

CoTrader is onto a good start with a solid idea. The company is targeting a big market and has a vast audience to capture. By launching its MVP and already going on its mainnet, it has taken progressive steps. However, the roadmap of the project is short term and lacks to provide long-term potential.

With clear and precise rules along with a focus on security, the project is focused. Having acquired a big follower-base on various social media platforms, it has already attracted the attention of the community.

Methodology

To rate an ICO, we follow a list of parameters that are basically the KPIs (Key Performance Indicators) of a project viz:

  • Whitepaper – Availability of code or prototype, the breakdown of funds, wallet for crowdsale
  • Team Profile – Team’s strength and reputation
  • Business Model – Problem solved, purpose & utility of the token and the economic model
  • Backing Technology – Blockchain infrastructure, clarity of terms & conditions and token software
  • Crypto-sale Resilience – Incorporation, token distribution, legal risks, and security aspect
  • Community Acceptance – Clarity & frequency of communication and social media presence

 

By asking the right questions, we maintain the integrity and viability of our ICO review while following a rating method that is based on the criticality of a particular factor. For instance, elements like token utility and funds breakdown have been given the highest importance while the team members’ reputation and plan to attract a user base are of medium criticality.

We have a team of robust professionals who rate the ICO projects in a completely unbiased manner.

Caution: Coingape publishes the ICO project reviews only for the information purpose. It is not an invitation for investment. When making investment decisions, conduct your individual assessment and consult with an advisor.

 

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Sagar Saxena 161 Articles

Passionate about Blockchain and has been researching and writing about the Blockchain technology for over a year now. Also holds expertise in digital marketing. Reach out to him at [email protected]

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