ICO Alert Report: Qvolta
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What is Qvolta?
People in most countries of the world can’t buy cryptocurrencies using popular local payment methods for goods and services. With the help of Qvolta, users will be able to quickly and easily convert cryptocurrencies into fiat currency, and vice versa.
Qvolta will provide individuals with a reliable and convenient platform to quickly buy or sell cryptocurrencies with the help of the most popular payment methods for the fiat currencies available in their country. Initially, two cryptocurrencies will be available for the exchange: Bitcoin and Ethereum, with the addition of Monero and other altcoins later.
With the help of Qvolta, any resident from any country in the world will have an opportunity to:
Sell cryptocurrencies for fiat currencies using their preferred local payment methods.
Buy cryptocurrencies for fiat currencies using their preferred local payment methods.
Take advantage of the guarantor services to protect the transactions and secure the trades.
— Kirill Murzin, CEO
The Qvolta token (QVT) crowdsale will begin on October 10, 2017 at noon EDT and ends on October 20, 2017. A total of 18,000,000 QVT tokens will be available during this period.
QVT tokens will be available for purchase at a ratio of 1 Ether for 1,000 QVT and Ether is the only accepted form of contribution. Purchased tokens will be distributed three days after the ICO or after full collection of funds for the project.
There will be a 3-day period at the beginning of the ICO where early contributions will be incentivized. Token bonuses are as follows:
Day 1: 30% QVT token bonus
Day 2: 20% QVT token bonus
Day 3: 10% QVT token bonus
Visit the Qvolta website for more information and for the contribution address when the crowdsale begins.
Token Distribution Information
There are a total of 22,500,00 QVT tokens being created, with 18,000,000 available to participants during the crowdsale. Tokens will be distributed to contributors within three days after the crowdale has completed. All unsold tokens will be burned.
80%: Public crowdsale
19%: Project team
1%: Bounty campaign
Use of Crowdsale Proceeds
30%: Technical development
15%: Legal service
5%: Project administration
Kirill Murzin, CEO and Co-founder
Kirill is an entrepreneur, economist, and fintech advisor. He has five years of experience in the international financial sector. Kirill is a co-founder of Fintech Finance, a full-cycle consulting firm for fintech companies and has an interest in blockchain.
Viacheslav Averkin, CEO and Co-founder
Viacheslav is a business-analyst and fintech advisor. He has six years of experience in the international financial sector. Viacheslav is also a co-founder of Fintech Finance.
Ilia Filatov, CBDO and Co-founder
Ilia is currently a lawyer with six years of experience consulting for fintech startups, such as Fabula Finance and Fintech Startup Solutions. He has an interest in both the fintech and blockchain space.
Dmitry Semenov, Development Team Lead and Co-founder
Dmitry is a software engineer and consultant. He has over a decade of experience in full-stack development, is an open source contributor and often speaks at related conferences.
ICO Alert: How does the Qvolta token (QVT) function within the platform and why is it needed?
Kirill Murzin, CEO: There will be two kinds of users in our platform:
Typical users: Users who want to buy and sell cryptocurrency in a fast way. They will buy or sell a cryptocurrency by responding to an offer created by a professional trader. During this process, typical users do not use the QVT tokens. Commission will not be charged by the platform for these users.
2. Professional traders: They make offers to buy and sell cryptocurrency according to the purchased tariff plan. The price of the tariff plan depends on the amount of cryptocurrency the professional trader wants to buy/sell. Professional traders need to use QVT tokens to buy the tariff plan.
The QVT token will be used to pay for tariff plans. The trader will have to pay for a tariff plan to start buying or selling cryptocurrency on the P2P Qvolta exchange. The tariff plan, depending on its value, allows users to trade cryptocurrency.
The use of QVT tokens for professional traders will be profitable, because the price of it will be less than 100 times than the commissions of other exchanges.
ICO Alert: What audience and region is Qvolta aiming to dominate? Who does Qvolta see as their biggest competitors and why?
Qvolta: We are planning to be a global p2p exchange platform. We plan to launch the product in the European Union, the U.S., and Russia in the first year, and later in the second year, expand to the key customer markets of Latin America, Asia, Australia, and, finally, other parts of the world in the third year.
Our main competitor is Local Bitcoin, the biggest peer-to-peer exchange platform. But we will have the following advantages:
- Low commissions for traders
- Global service for the whole world
- We support Bitcoin and Ethereum
- High degree of user’s protection
- Good usability
- Mobile apps for Apple and Android
ICO Alert: Other than a more convenient purchase/sell option, how is Qvolta different than a traditional exchange service? If users/traders are already using another exchange service, why should they switch to Qvolta?
Qvolta: As discussed before, the main difference is in our advantages. Good usability, mobile applications, low commissions for traders, etc.
ICO Alert: Will Qvolta be providing liquidity at first to assist in the exchange orders? Can users expect any slippage with Qvolta, or are buys/sells strictly met at the price guaranteed?
Qvolta: Qvolta won’t be providing liquidity at first to assist in the exchange orders. The prices will be guaranteed by our tariffs plan, which will be changed automatically according to the price of the QVT token on market. If the value of token increases, the amount of tokens in the tariff plan will be lower, and vice versa.
ICO Alert: Regulation in the cryptocurrency industry is ever-changing. Has Qvolta completed the necessary regulatory standards in the initial countries it plans on launching within?
Qvolta: Our company is registered in Singapore, a country where cryptocurrencies are regulated. We are planning on expanding and getting licenses in those countries where it’s necessary.
ICO Alert: What is Qvolta Wall and Security?
Qvolta: Qvolta Wall is security for your account. It means that you will receive a notification when you sign into your account and information about which device and from which address a previous sign-in was made.
Qvolta Security is an app that gives you a personal and unique code each time you’re entering the platform to operate on the platform.
ICO Alert: How far along is the project today? What does the roadmap look like for the rest of 2017 and 2018?
Qvolta: As of now, our MVP is live, and our desktop version will be ready in a few days. We will announce it before our ICO. We are planning to launch our platform one or two days after the end of the ICO and in January 2018, our mobile version will be available. So during the rest 2017 and next year, we will be working on the marketing and legal to create a global platform and to improve on the market.
ICO Alert: As a non-Qvolta question, we like to ask for unique predictions on the cryptocurrency and ICO space in the near future. Where do you see the industry in 3–5 years?
Qvolta: We think that the cryptocurrency and ICO space will continue to grow in the near future. There will be regulation in the cryptocurrency industry in all progressive countries. ICOs will replace the venture capital route of attracting capital.
There will be revolutionary changes in all parts of the world with the growth of blockchain technology.
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(1) Qvolta Website, Qvolta, (2017)
(2) Qvolta Whitepaper, Qvolta, (2017)