CoTrader sets $3M hardcap for its live blockchain Uber of Hedge Funds, Democratizing the $85 Trillion Investment Funds Industry On Ethereum
CoTrader in its first month in operation already has users — fund-managers — that are themselves venture capital firms. To even have a working platform like CoTrader does, before the main token sale, is very rare, let alone VC users.
CoTrader does not mind selling in this crashed crypto bear market, because it plans just a modest 10k ETH hardcap (~$3M) for 20% of its tokens. The rest of the tokens will effectively be frozen virtually forever, up to 10 years, sold under a DAICO3(*), and CoTrader plans control over its very smart contracts to the 51% token voter power for a truly decentralized project.
CoTrader empowers anyone anywhere to create a smart fund and begin to build up a investment performance history by trading, as a trader. Anyone anywhere can join the smart fund, as cotraders. Cotraders can choose to invest with the best traders. Traders can set their own performance fees. Top traders may one day attracts 1000s of times their own money. If such traders charge 10% performance fee, they’d be multiplying their gains by 10% of 1000x, or 100x. So, if these traders would’ve made 2x on their own in some time period, such as a quarter, they’d instead earn 200x, if they could still get the 2x while managing larger funds. Top traders are therefore highly incentivized not to lose money for their cotraders, and rather optimize their returns. All trades currently happen through Kyber, but Bancor and 0x will soon be added. US citizens and residents are blocked for now, because of heavy regulation in the US.
The MVP is live on Ethereum at https://mainnet.cotrader.com. The CoTrader platform is protocol and platform agnostic. The platform will support all open DEX protocol via CoTrader’s super-DEX infrastructure, and its smart escrow protocol will extend to tokenize all assets on any exchange, even beyond crypto.
The plan for the sale starts off fairly typical. However, the project aims to go fully decentralized. The rest of the 80% besides the team tokens will be sold on a DAICO3 — a model that CoTrader introduced. It means that daily auctions will slowly release all of the tokens to the public, potentially giving a DAO voting power over the rate of release, and voting back a portion of their funds. Ultimately, the company would like a DAO to control the ability to update projects smart-contracts as well, with 51% control. There might be a lot vying for control.
CoTrader COT tokens are automatically used by each fund. 10% of each fund holds COT tokens. This number can be adjusted by the DAO. Token usage therefore grows with the platform. The platform can now be used with ETH. After the global unlock time, the funds will begin to convert 10% into COT. Tokens may also be bought back with the platform profits, and held in a DAO to vote to progress the platform further with the revenues. COT tokens may also be used to hide the trading strategy of traders, by interfacing with special ZCOT tokens that may be used in CoTrader’s second layer ZK algorithms.
The seed sale is starting beginning of September, and will have the largest bonus. If interested in the project, make sure to join all social channels listed on the site.
The point of CoTrader is to let people optimize their investment returns with minimal time and skill required, so that they don’t lose money or time, and can rather enjoy their lives while the best traders and investors in the world are discovered and multiply their gains while they try to guide us to the moon.