Coinvest is a US-based project targeting the decentralized stock market for cryptocurrencies. They plan to raise money to create a platform where users are able to invest and create a diverse portfolio of crypto-assets using a unique coin (under the name of COIN).
The Coinvest team plans to develop an online platform where users can create a virtual portfolio of digital currencies, to trade and withdraw investments directly with the native smart contract. The utility coin behind this platform is called simply COIN.
“When a user wants to make a trade, the Coinvest Token ("COIN") is sent to the contract along with a list of the cryptonized assets the user would like to invest in. The amounts and prices of purchased assets are recorded in USD and when a user would like to liquidate their holdings, they follow the same process of selling a certain amount of chosen assets and their address is returned COIN in the USD value of the profits earned”, the team explains on GitHub.
- The platform comprises of four separate smart contracts:
- CoinvestToken.sol is a default ERC-20 contract that uses the COIN cryptocurrency to make trades on the platform.
- Investment.sol is an investment contract where users can actually invest in digital assets, liquidate and interact with the UX and wallet. It contains the data and the trading history.
- Bank.sol holds all of the invested user funds. Funds in the so-called bank can only be accessed by the Coinvest team.
Oracle uses Oraclize protocol to get market price data on the platform. It draws information from cryptocompare every from minute to minute and updates the prices so that users can invest at the going rates.
Coinvest app offers a brokerage account, a user wallet and a debit account in one place. On the platform, users will be able to do options, margin and futures trading/investments. The team intends to implement a debit card account and to offer a “personally curated index of funds”.
So far, the platform has an alpha release demo that can be downloaded on their website.
Coinvest - The coin
As we explained earlier, the Coinvest platform is based on a utility token called COIN. COIN is practically the proxy currency that allows users to swap currency back and forth for profit.
There is a total token supply of 60M tokens, of which 60% will be available for purchase during the crowd sale and presale.
Presale of COIN starts February 16th 2018. During the ICO stage, Coinvest plans to raise at least 1 million USD to develop the app. For the ICO, 300 coins were valued for 1 ETH. Users will be able to buy the coins during the January presale with an early-bird 25% bonus (375 COIN/eth) and with a 10% bonus during the February crowd sale (330 COIN/eth).
- 2.4 M
- 600k (25%)