Betoken Announcement — IAO not ICO

Initial Account Offering (IAO), next-gen user interface, refreshed landing page, shorting, leverage, and more!

Hello everyone! We’ve been working in stealth mode for a while, and today, we’re excited to finally show you all the cool stuff we’ve built.

There are five major updates:

1. An Initial Account Offering (IAO) that gives you a hedge fund manager job at Betoken. You can have your seat right now by ordering a manager account!
2. Referral program where you’ll be able to earn 10% bonus for each manager you refer to the Betoken IAO. The people you refer get a bonus as well!
3. Next-gen interface for our private Beta with much better user experience.
4. Refreshed landing page with huge improvements in expressing our message.
5. New features coming soon: shorting, leverage, governance…

Initial Account Offering

After months of discussion and planning, we have decided to launch the Kairo token — Betoken’s native token — in a radically new way, which we call Initial Account Offering (IAO).

Rather than treating Kairo as an asset that can be freely traded, like most other tokens, we’ve decided to treat Kairo more like experience points in a video game. This means that:

1. Kairo will be non-transferable. This prevents market manipulation, price speculation, and hoarding, which will make Betoken a more healthy ecosystem.
2. You won’t be able to buy any amount of Kairo you want. Instead, a certain amount of Kairo will be given to you when you purchase a manager account.

There will be three tiers of account you can purchase: $10, $50, and $100. The only difference between them is the initial amount of Kairo you will have: $10 = 5 Kairo, $50 = 25 Kairo, $100 = 50 Kairo.

How Do I Join?

Just go to betoken.fund/iao!

We provide a large variety of payment methods:

• You can use Metamask, Ledger, or any Web3 enabled browser to join the IAO. Direct Ether transfer is also supported.
• You can use Ether, DAI, 0x, KNC, and many other ERC-20 tokens to pay. This feature is powered by Kyber Network.

In addition, we provide a user-friendly interface, so you don’t have to worry about dealing with anything technical.

Why Join the IAO?

• A new job: you get a real job in our hedge fund when we’ll hit Mainnet in Q1 2019. You’ll earn commissions based on how good your assets management skills are. The more Kairo you own, the more money you will manage, the more commission you will receive. You will be able to earn Kairo by making profitable investments for the Betoken fund.
• 25% price increase: After the IAO, purchasing an account will be 25% more expensive, so you’re getting a great deal now! Don’t miss it!
• Referral program: See below

Refer Friends For 10% Bonus!

To attract a critical mass of managers, the IAO has a referral program. If you referred your friend to the IAO, they will get 10% more Kairo, and you will get the same amount of bonus Kairo!

It’s really simple to do: after joining the IAO yourself, you will get a referral link, and anyone who joins the IAO using that link will be part of the referral program and a bonus will be given to both parties.

I had Omen Kairo before the IAO. What happens to me?

We value our Beta testers, and you certainly won’t be neglected!

Nothing has changed for our existing Omen users: you will still be able to convert your Omen Kairo into Mainnet Kairo once Betoken is officially released. The Kairo will be non-transferable of course, the same as everyone who joins the IAO.

The reason we’re not ending Omen and giving you Mainnet Kairo is to provide you with more time to grow your portfolio and earn more Kairo.

You can join the IAO as well if you want to. It’s only $10! You can use the same address as your Omen account.

Will Kairo Ever Become Transferable?

We may decide to make Kairo transferable through a protocol upgrade, once we consider the Betoken ecosystem to be mature enough to deal with malicious market manipulations and whales.

Next-gen UI

We have completely revamped the web interface of Betoken from the ground up. It looks better, feels better, works better — in other words, it’s way better!

New Design for our dApp

We are deploying this release only on the Rinkeby Ethereum Testnet. It ships with a split UI for Managers and Investors, a new workflow for your investment decisions, and a better view regarding your performances as a manager.

We have redesigned the Betoken interface from the ground up, with a totally new and original design language. It’s also rebuilt under the hood, with better loading times and more reactivity.

Better Interactions

Designing decentralized applications with good user experience is a huge challenge for everyone, and we’ve worked hard on our own answer to that.

In our new interface, we display to our users the information they care about the most and include clear indications of whether something is an action and something is not. For example, we have separated the active investments that users can interact with from inactive investments that serve as a record.

The new interface also guides you through every step of a blockchain interaction, from specifying what you want to do, providing info about the blockchain transaction, and providing confirmation of the transaction.

Division Between Investors and Managers

In our legacy UI, we mixed elements of the investor side workflow with the manager side workflow, which simply confuses the heck out of everyone.

Our investors and managers have different needs, and we wish to present to our users only the information and interactions they care about, nothing more, nothing less.

This is why we have begun separating the investor workflow from the manager workflow. We plan to provide a minimal interface for our investors, since one of the goals of Betoken is to let people who don’t want to jump into the crypto rabbit hole to profit from crypto. Our managers, on the other hand, will be presented with an interface optimized for productivity.

Check out Betoken’s new interface

Refreshed Landing Page

The main goal of our new landing page is to reframe more clearly our message. As our dApp’s UI, we wanted to split the interface in two: one landing page for the investors and another one for the managers.

This way, we were able to define what is an investor and manager user-flows with much more details and avoid the confusion we made with the first version of our landing page.

The last thing we wanted was to bring more light and freshness with a lot of white spaces and colorful illustrations.

Providing feedback

We’re very much looking forward to hearing feedback from the community! That’s why we’ve prepared a couple of ways for the community to provide direct feedback.

User Survey

We will soon announce a large Betoken Feedback Survey to gain knowledge on what people are thinking of Betoken v0.2 and how we can improve the app and the Betoken project in the future.

This survey is meant for all different user groups of Betoken. Users of our Betoken private beta wanting to continue to manage and earn more testnet KRO redeemable in Mainnet KRO, other projects wanting to partner with Betoken and people looking to invest and manage the fund on Mainnet.

Chat

Join our Telegram channel to discuss and let us know what you think of the new release!

Shorting, Leverage, Governance & More!

• Our team at ETH San Francisco implemented a unique solution for shorting & leveraging ERC20 tokens, Planck, and we’re glad to say that we’ll be integrating it into Betoken! This will make Betoken one of the first decentralized derivative-trading platforms in the world!
• We have designed a radically new governance system to handle Betoken’s protocol upgrades, which we call Opt-out Governance. It ensures a high level of decentralization and security for Betoken, while being minimally intrusive to our user’s experience under normal circumstances. You can find details about it in our updated whitepaper.
• We have updated our whitepaper to reflect the latest changes. Check it out here!

One More Thing…

We think that with this new update, Betoken is in a good shape for a test drive out on the roads. So we’ve decided to focus our efforts completely on delivering a Mainnet Pilot with exciting new features, some of which we’ve already mentioned in this post. Stay tuned!

Before users will be able to manage the Betoken Fund on the Mainnet, we’ll do a first audit which will give us green light. As security is paramount to us, we will conduct another external independent audit. And also a live bug bounty program with our own organization during the next couple of months. We want to make sure everything runs smoothly and securely before a Mainnet deployment.

The IAO’s proceeds will be mostly used to perform those security audits.

Thanks for reading! Don’t forget to hit the clap button and share the post with your friends!

To share your thoughts or to learn more about the project, come chat with Zefram, Surya and Guillaume directly on Telegram or Twitter. We look forward to seeing you there!

Stay tuned for announcements on Reddit and Facebook. And we’re always looking for talented individuals to join the team. Please reach out to us at hello@betoken.fund.