We have created this post to share answers to some of the common questions forwarded to our team members in our Telegram (https://t.me/carboneum_c8), and Facebook (https://www.facebook.com/carboneum.io) groups, as well as via email (email@example.com).
What is Carboneum (C8)? Carboneum is creating an open protocol for social trading and a decentralized social trading platform, CoinRadars, on top of the protocol, with its own token named Carboneum token (C8).
Then, what is CoinRadars? It is part of Carboneum project and a Dapp for social trading platform for cryptocurrency, built on the protocol. It aims to ease the investment experience for retail investors, allowing users to duplicate transactions of expert traders and obtain trading signals.
Why is your social trading platform different from others? Using CoinRadars, amateur traders can learn from and follow trading strategies of expert traders. In social trading, trust among users is critical and this is realized through decentralization.
Carboneum protocol ensures that all transaction history is recorded on the blockchain, creating a transparent and immutable record, promoting trust among users.
Moreover, the protocol executes the trading for the followers automatically, copying the experts, and takes the fee from them only when the trades make a profit. This creates a win-win reward and fee structure for both follower and leader traders.
Who is behind Carboneum?, We have a group of experienced , enthusiastic and reputable team members, advisors and, investors. In fact, the team behind the project is an existing 500-startup backed company which boasts a revenue-generating social trading app (https://stockradars.co/info/) of over 680K downloads and a joint service with LINE, one of the biggest messenger apps in Asia, with over 4.8M users.
Do I need to do KYC to participate in Crowdsale, Airdrop, Bounty, Whitelist…? Yes, due to regulations it is required. But we have made KYC simple for you. To do KYC and register your wallet to receive tokens, we offer 3 methods and your identity will be verified in a day.:
2. Website KYC: carboneum.io/ico/
3. Telegram KYC bot: @Carboneumkyc_bot
Does KYC have a deadline? Yes, before Crowdsale ends (July 8th).
Are the US, Chinese and Japanese citizens allowed to participate? Sadly, they are not allowed due to their countries regulations.
What kind of token is C8 token? Carboneum token is a utility token and critical element in our ecosystem. The token is used to obtain a discount on the fee which followers have to pay when the duplicated trades make a profit. Among other benefits, C8 token holders will get discounts on fees on other platforms of our company such as Stockradars, Fundradas, Coinmax.
1 C8 = 0.1 USD
1 ETH = 6000 C8
1 ICX(ERC-20) = 22 C8
How much raised during pre–ICO? We raised USD 2M., which is 66% more than softcap.
When Crowdsale will start? Crowdsale will be from June, 25th to July 8th 2018.
When will the tokens be distributed? For Airdrop and Bounty distribution, C8 Tokens will be distributed after Crowdsale which is no later than July 9th.
What Ethereum wallet do you recommend? We recommend wallet website or wallet app. For example, Metamask, MyEtherWallet, Cipher, Parity, Mist, imToken.
What gives the token long-term value?
C8 token forms the currency of Carboneum ecosystem. When followers copy trades of leaders and they make a profit, they must pay a fee. The fee can be paid in C8 tokens and the followers will receive a 50% discount. Much like BNB for Binance, this provides a huge incentive for users to purchase and use the token. In addition, users who hold a certain amount of tokens will have access to exclusive perks and benefits. Therefore, as more and more people use Carboneum, we expect a natural growth for the demand of C8 token as its utility is intertwined with the functions of the platform.
Is there any incentives for investors to invest/hold except for a discount, that is only interesting for social trader?
In addition to the discount users will receive on the fees using the token,, the token will unlock exclusive perks and benefits for token holders, such as being able to access premium features in our application.
I’m not sure you need a token for a trading platform. There are already plenty of trading platforms that exist without the need for a token.
Platforms and systems do already exist without blockchain or tokens. However, they are riddled with problems. For instance, all records, including leader-follower relationship and transactions, are kept in a centralized system which could well be subject to manipulation. Followers often do not have much visibility into the transactions conducted by leaders. Also, the financial interests of leaders and followers are not aligned, as followers often have to pay a fee for simply copying trades, regardless of whether they make a profit or not.
Carboneum aims to solves to these problems, and for this blockchain and token play an important part. By leveraging blockchain, all leader-follower relationships and transactions are recorded on the blockchain for transparency. Smart contract enables the act of copying trades to be executed automatically and settles the fee as followers only pay when they make a profit. Token facilitates the trading on the platform as it gives 50% discount on trading fees, creating a vital incentive tool to use the platform. Furthermore, the token will enable users to access exclusive benefits and perks, further accelerating the uptake of the service.
hat are the benefits to using a blockchain to satisfy this demand to aggregate traders opinions together?
There are a number of key benefits of using blockchain. By leveraging blockchain, all leader-follower relationships and transactions are recorded on a decentralized ledger for transparency. Also, smart contract enables the act of copying trades to be executed automatically and settles the fee which followers pay when they make a profit.
The use case makes sense, this reminds me of eToro, but would that be a fair analogy?
Carboneum is similar to eToro, however, etoro, for one, is a centralized platform and charges users based on the spread.
Will the expert traders be compensated for their time on the the platform?
The expert traders will be compensated for their time on their platform. This will be done so whenever the followers copy their trade orders and the orders make a profit. This is all recorded on the blockchain and smart contract is used to trigger this payment to the expert traders for transparency.
How will you ensure your platform remains legal globally?
We work with legal advisor to ensure that we ‘re utilities tokens, in that case it will tends to works well in most of the countries in the world.
The platform will also legal globally by working with exchanges that are legally compliant.
How do you protect against spamming? what if there is a trader who is providing false information? Is there a check in place for this? Or way to slash that user?
All of the trade orders executed are done via our exchange partners and recorded on the blockchain. This means that no trader can provide any false information. Rather when he or she executes a trade, the record will be kept on the blockchain for all to see.
Are there regulatory hurdles for incentivising this type of trading behaviour for non-accredited investors?
Actually, social trading is not something new but it is already common in the FX market. So, the legal obstacle is not an issue since this has been legalized in many parts of the world.
How do you avoid being highly levered to the volatility and trading volumes of crypto markets? What happens if they dry up like in 2015–2016? What fees do you think are sustainable in the long-term?
Carboneum is essentially a protocol which will become a infrastructure for social trading. Initially, we will create CoinRadars, which will focus on cryptocurrency. In addition, we anticipate other DApps will be created on the protocol which will handle other asset classes, such as stocks. Therefore, we are not simply reliant on cryptocurrency.
In addition, we believe that sustainable fee is when it is fair and transparent. Carboneum protocol settles the fee only when followers make a profit from copied trade. This aligns the financial interest of both followers and leaders.
What does the lock-up on the team look like?
3 years for granted tokens, 1 year for options tokens
Interested to understand how the 500 startups network would add value to this project?
We’re working with 500 startup in Thailand to explore for possible collaboration.
If you have more questions, suggestions or comments please visit any of our channels and let us hear from you!!
Visit our website: https://www.carboneum.io
Follow us on:
Telegram channel & group: https://t.me/c8marketing
Line Carboneum KYC: @carboneumkyc
Contact us on: firstname.lastname@example.org