The James bond of ICO’s is here- SPECTRE
SPECTRE –ICO REVIEW
I am writing this article both from a trader’s and an investors aspect, to help everyone, to understand how big an opportunity is this for people who miss out on big projects in the early stage.
I will be reviewing the ICO keeping in mind the following pointers
· What is the problem spectre is trying to solve and how big is the problem?
· How practical is the solution keeping it in perspective with the real world?
· Do they have a product or they also like most other ICO with just a whitepaper?
· What is the background of the team behind this project?
· Why is to even consider spectre as an investment opportunity?
I request all readers to not just jump onto the last question on my list, my whole purpose of writing an article on SPECTRE is not to push anyone to make an investment decision, the agenda here is to dissect a potential investment opportunity before investing.
Firstly before starting, we must understand “What is Spectre”?
Spectre sounds like a fancy name just pulled out from a James Bond movie, that is what I first thought but it actually has meaning to it and is not something pulled out from thin air.
To understand in the easiest terms as possible, Spectre is the worlds first broker-less financial trading platform, with a built-in decentralized liquidity pool* and all the transactions are governed by smart contracts on the Ethereum blockchain.
*Liquidity pool — I will explain this with an example When you go to a casino and play any game which pays 1:1 (if you bet 1 and you win then you get 1 , so 1+1=2) . Now consider yourself betting 10 million dollars on the same game and you win, so the casino now has to pay 10 million dollars besides your initial investment, but when you try and cash out the casino refuses to pay and simply say we don’t have 10 million dollars to pay in our bank account. (That bank account is the liquidity pool).
In spectre case, you can see the liquidity pool at any given second making it extremely transparent.
What is the problem spectre is trying to solve and how big is the problem?
Spectre aims to eliminate broker fraud from the trading equation, to make it a transparent platform for every trader to trade.
The industry they are initially targeting is the digital options space and FX market space, as per data brokers have had a long history of manipulating prices and denying withdrawals due to multiple reasons, which leads to 7/10 traders losing money on a macro scale.
The size of the market in dollar terms is huge, the digital options market at its peak was around 3 billion before fraud and scam brokers brought it down and FX is an 81trillion dollar market a year.
I am attaching a link to an article that shows how real is the problem.
What is solution spectre offers to this problem and how practical is the solution?
Spectre uses the blockchain technology to solve this problem (Spectre is built on Ethereum blockchain).Spectre decentralizes the entire process and removes the broker from the equation.
The biggest benefit to the traders on this platform is that never have to worry about depositing the money on an exchange or in the broker’s account, as a trader simply has holds the money in an offline escrow wallet which is completely controlled by smart contracts so you never need to worry about payouts ever again.
I personally feel this is like a gift from God, just imagine how relaxed would you be if your money was in your offline wallet and you can use that to trade it on the exchange without ever having to worry about your account getting hacked or exchange getting shut.
I am attaching two pictures below to graphically understand the difference between Traditional brokers and Spectre.
Traditional broker model
Spectre model
KEY POINTS OF DIFFERENCE BETWEEN TRADITIONAL BROKER AND SPECTRE
The solution is highly scalable and practical as it not merely a concept it is working product which can be scaled in many ways –
· Developing Gaming/Betting DAPPS and linking it to the liquidity pool
· Adding different markets to the platform.
Do they have a product or it is just a mere concept in the air?
I did a little digging and had word with their CEO and COO to understand the roadmap directly from them.
They have released a public alpha version of their trading platform, which can be played around with anyone.
After using their product I must say, it works very smooth and is extremely easy to use and learn.
I will be attaching the link to the video where you can check out the product for yourself.
So, I feel this is a big advantage for Spectre as their product is ready and they have something concrete to present there investors and not just a whitepaper.
What is the background of the team behind the project?
To be honest this is a very important factor for any investor to consider before putting their money behind a project.
To which I can gladly say the team behind this project is more like a dream team, the team comprises of ex Goldman Sachs and Ex-JP morgan people which adds a huge credibility to the project.
The main reason behind checking the background of the team is to understand simply that do have the relevant experience in that particular industry which they are trying disrupt and in my conclusion, the team has the credibility to pull this off.
Why you must consider spectre for investment
Considering all the above pointers and the few pointers that are listed below will give you a clear understanding why I feel it is investment opportunity that you must not let go
· It is one of the very few tokens that offer dividends to token holders. (2% of the amount the liquidity pool grows by and special dividends if the liquidity crosses certain set targets in a specific amount of time)
. Spectre basically offers two types of tokens, one which offers dividends to investors as mentioned above and the other is utility token which they have just planned to launch.This token helps you to get access to certain special features on the platform.
Features like-
1–5% higher trade pay outs ▶ All trade expiries on smart option contracts ▶ All assets (not just a few per asset class) ▶ All trade indicators (not just the ones found in the MVP) ▶ Exotic trade types (smart option contracts such as knock-in-knock-outs, barriers, ladders and more) ▶ Spectre Financial Education Academy (SpecED).
These features can help a trader gain more over a period of time.
· They can easily add D-APPS ranging from various betting games to an online casino, which will be backed by the liquidity pool (It can help grow the liquidity pool faster, which translates to more dividends for the token holder)
· They have a first mover’s advantage in this space, which opens up a tremendous opportunity for growth as more player will follow this concept.
· Simply the ease of trading and trader confidence is big psychological advantage they have which will help them to easily acquire traders to trade on there platform.
· They also have token-buy back program (I will be attaching the link to it ), which helps gain investor confidence.
CONCLUSION
In my opinion SPECTRE is a must invest ICO, I am betting big on it because from an investors point of view it fulfills all the criteria of a big winner.
A big pointer which makes me so optimistic is the data that almost 70–75% traders loose while trading due to many factors (Lack of knowledge, Giving into emotions etc etc).
This leads to exponential growth of liquidity pool which in turn leads to more dividends to token holders.
Please feel free to contact me on telegram @sanchaysondhi if you have any questions regarding this article or you just wanna chat in general. I will be writing another article covering technical aspects of SPECTRE soon.
CAUTION- THIS IS NOT INVESTMENT ADVICE .
Links
Website- www.spectre.ai
Telegram channel — https://t.me/joinchat/GjkGkw7IfwUVuPiWxctD4g
Whitepaper link- https://d1zzssn32v8b7a.cloudfront.net/media/spectre_whitepaper.pdf
Token buy back link — https://d1zzssn32v8b7a.cloudfront.net/media/spectre_token_buyback.pdf
