ICO DATE: 16th October – 30th November 2017
Value Proposition: The first token-ized crypto index fund making it easy for novice traders to diversify by purchasing one currency (C20) which is invested across the top 20 cryptocurrencies by market cap. The fund automatically rebalances itself weekly in order to maintain its holdings in the top 20 cryptos.
- Token type: ERC20
- Token Supply: 75,000,000 with a max supply of 86,206,896
- Amount Being Raised: $38,000,000
- Token Distribution: ICO participants will receive 87%
- Token Price: Pre-sale $.95; 1st 48 hrs = $1.00; 48hrs – Week 4 = $1.05; Week 4-6=$1.10
Token Use in the Platform: 98% of the funds raised will go to purchase the underlying tokens and 2% is going to a management fee.
Ownership of COV Opportunity: The underlying crypto tokens will appreciate which will appreciate the value of the C20 token, so this token is a way of diversifying your portfolio across the top 20 cryptocurrencies without the headache of having to handle the rebalancing yourself.
MVP: The platform is built at the time of ICO.
Strength of Team: The team is quite young but the advisory panel makes up for lack of experience.
The reason I like it: I think anything that makes trading simpler for busy investors will be a win, at least in the short term. I understand that the value of the underlying assets should dictate the value of the COV token, but this is an unproven business model where the investment community can then also invest in backing the COV token itself via supply/demand economics once it is listed on an exchange.
Website link: https://crypto20.com
Disclaimer: We are not financial advisors nor is this financial advice. You are responsible for your own research and due diligence. We are not sponsored, endorsed or paid in any way for the content contained in this opinion piece. The views expressed herein constitute our opinion based on our own analysis and experience.