ICO Analysis: CINDX

For a newbie trader, it is hard to make a profit in this volatile cryptocurrency market. Even seasoned traders have problems deciding when to take profits or cut losses.

However, an inexperienced trader can make money in a bear market as well by following experienced traders’ trading moves. CINDX is a platform such that enabling people with less experience to copy seasoned traders’ buy and sell orders through synchronization of accounts. This investment method, which is called copy-trading, is conducted automatically in the CINDX platform, ensuring that a trader can follow another trader’s trades.

The synchronization is conducted through the use of APIs, so the platform user’s coins never leave his or her wallet. This allows the platform’s users also to connect with top cryptocurrency exchanges, so it is possible to take advantage of arbitrage opportunities as well. It is also noteworthy that investors pay fees only when they make money. The platform will get a cut of 10% of successful trades as a commission, and traders get a high cut of this as well, allowing them to monetize their trading skills. The use of smart contracts ensures the transparency of the trader’s trade history, so the investor has little to worry about.

Token

CINX tokens will be used for all investments and processing operations within the platform, but Success Fees can be paid in other cryptocurrencies as well. A dividend mechanism will be implemented such that thirty percent of the platform revenue will be proportionally distributed to loyal CINX owners who lock down their tokens. This fair passive income opportunity should create a sufficiently strong reason to HODL CINX tokens.

The ICO investor should note that the highest bonus provided to the pre-sale contributors was 25% which is somewhat high for an ICO, yet at the very beginning of the public sale, October 21st, a bonus of 17% will be available, so we can say that the earliest pre-sale investor gets only a bonus of 7% over the earliest ICO investor. This bonus rate will get lower and lower over time, down to zero all the way down at the end of the ICO.

The initial total supply of CINX is 51,500,000 tokens with the following token distribution:

  1. 12% team
  2. 6% bounty
  3. 7% advisers
  4. 12% reserve
  5. 3% traders recruitment program
  6. 9% token liquidity support
  7. 51% available for sale

The team is planning to use the token sale proceeds as follows.

  1. 12% marketing and pr
  2. 41% research and development
  3. 28% operations
  4. 7% legal expenses
  5. 3% community grants

Team

Val Jerdes: Jerdes is a mentor at Alchemist Accelerator and the director of venture capital academy at Kauffman Fellows.

Sofja Pevzner: Pevzner has worked as a lawyer at Crowe, an accounting firm from Chicago, Illinois, for 3.5 years.

Advisors

Keith Teare: Teare is the co-founder at Accelerated Digital Ventures and a founding shareholder at TechCrunch. Two of his companies, EasyNet and RealNames, were valued over $1 billion.

Austin Kimm: Kimm was the CEO at Renaissance Insurance, a Russian insurance group, and the CEO at Aviva Czech Republic.

Philip Staehelin: Staehelin has held executive roles in T-Mobile Czech Republic, Accenture, UniCredit and FleetCor and A.T. Kearney.

Verdict

Below is a breakdown of the risks and growth potential of CINDX.

Risks

  • Competition with already existing platforms with similar goals such as Genesis Vision. (-1)
  • The use of APIs by secondary parties does not have a good history in terms of security. (-1)
  • One might have suspicion on how the platform’s security will be ensured. More information about this would be better. (-1)

Growth Potential

  • A minimally working product already exists. (+3.5)
  • 30% of the platform revenue will be proportionally distributed to people who lock down their tokens, creating a passive income opportunity. (+3.5)

Disposition

New traders in any market often lose money. Copy-trading, or following seasoned traders’ footsteps and executing the same orders as them, is a common method to go around this problem and has been embraced by many cryptocurrency projects. CINDX is such a platform with further benefits. Traders who allow the platform to copy his or her trades are rewarded by Success Fees which the platform gets a small cut of. Traders are almost guaranteed not to lose money if they follow a reasonably successful trader. Token owners are also incentivized to hold their CINX tokens as 30% of the platform revenue are proportionally distributed. As the bonuses offered to ICO investors get lower and lower over time, the early ICO investor should not have any reason to worry about 25% bonus offered to pre-sale contributors as he or she will have the chance to get a bonus of 17%. Though, as there are many projects with similar goals, competition exists. Also, the platform uses APIs to follow and execute trades, but letting other parties use your own APIs is not considered to be the most secure way to make trades.

  • CINDX receives a 4/10.

Investment Details

  • Type: ERC20 – Security
  • Symbol: CINX
  • Platform: Ethereum
  • Crowdsale: October 21st
  • Minimum Investment: $50
  • Price: $1.00
  • Hard Cap: $21,000,000
  • Payments Accepted: BTC, BCH, LTC, ETH, USD, and EUR.
  • Restricted from Participating: Unspecified

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