Spectre.ai surpasses Q1 guidance!
SPECTRE.AI, is delighted to announce that it has already been outpacing roadmap goals and, after just Q1, has beaten user growth targets by 293%. SPECTRE.AI is the world’s first broker-less and fraud-free trading platform that uses unique smart contract technology built on the Ethereum blockchain for users to trade directly against a decentralised pool of liquidity.
SPECTRE.AI represents an innovative leap forward via the DALP — the Decentralised Autonomous Liquidity Pool — that allows users to trade without requiring specific p2p matches. This means users are trading against a decentralized balance sheet that is available 24/7 to be traded against on demand.
The market is responding — the firm’s SXDT tokens have paid out over 400 ETH to token holders already and multiple projects are looking to align themselves with SPECTRE.AI and the underlying DALP technology across a range of sectors including gaming, finance and others. This is the only company today (blockchain or not) that has validated a weekly rewards model, world wide.
Bucking the trend
While over $10billion has been raised in the last 4 years alone with ICO fundraising, critics have pointed out some disturbing trends.
A survey earlier this year from news.Bitcoin.com revealed that 46% of all ICOs in 2017 either collapsed at the funding stage or have done so since launching. In addition to that, one out of three ICOs are failing, according to digital asset assessment agency DigRate, despite the ICO market showing remarkable rates of growth ($4 billion within Q1 2018, up from $7 billion in the whole of 2017 and $300 million in 2016).
SPECTRE.AI is bucking this trend in spectacular fashion. Results for Q1 this year (April to June) are well ahead of expectations and serve to validate the project, making SPECTRE.AI a shining example in an increasingly dark industry.
· As per guidance issued earlier this year, the number of projected traders using the SPECTRE.AI platform (in real-money mode) by end of Q1 would be 250. The actual number is 733+, a delta of close to 300%. Bear in mind this also beats the 500 new trader target of Q2.
· The liquidity pool has increased to 5,271 ETH (from 5,000 at launch), +5%.
· Volume traded since launch — $790,403.45 ($250/trader/business day, in-line exactly with our forecasts).
· Number of accounts since launch: 725 regular, semi-centralised accounts & 20 wallet, decentralised accounts (some users have both).
· % of real wallets using SXUT tokens to upgrade — 21%
While the management is pleased for a better than expected start, they reiterate their earlier communicated full-year guidance. Namely, for fiscal year 1 (ended March 2019), the group expects a total of 3,000 traders (minimum) to be added to the trading platform with an approximate traded volume of $79.2 million. The first quarter was anticipated to be a quieter one with the platform being scaled up and any early teething issues ironed out. Ramp-up is expected in the later quarters and should growth continue apace above targets, scope for guidance upgrades may be possible.
At the end of each quarter, the management team hold a live, recorded webinar to discuss the progression of SPECTRE.AI. For Q1, a webinar will be held and more details can be found on www.spectre.ai/investors
Safe, fraud-free online trading
Instead of traditional forex, CFD, options and speculative trading platforms, SPECTRE.AI offers a much safer, trust-less, broker-less trading platform. Users can take speculative trades on over 70 assets and see outcomes in as little as 5 minutes. If traders so wish, trades taken via the Wallet account occur in real-time across the Ethereum blockchain instantly making fraud impossible while also eliminating issues of withdrawals.
The Forex, Options, and Speculative trading industry represents over $4trillion in daily volumes. The closest fiat-based competitors of SPECTRE.AI are currently doing annual volumes exceeding $3 billion and represent considerable risk to the average trader — tens of millions of dollars was reported to have been lost to broker-side fraud in 2017 alone. SPECTRE.AI is looking to grab a sizeable share of this market, clean it up and restore confidence in online trading for the masses.
This represents one of the single largest shifts from fiat to usage of cryptocurrencies and represents a tremendous move forward for blockchain technologies in general.
Spectre CMO, Hitesh Juneja noted “A big issue with blockchain based projects has been that they tend to do things worse than their fiat counterparts. They count upon the use of blockchain to simply make up for their otherwise poorer functionality. One of the key points we focused on with SPECTRE.AI was to make a platform that is genuinely better than the fiat options, in addition to being blockchain-based. SPECTRE.AI is easier to use, faster, safer, and more aesthetically pleasing than most of the fiat brokers out there, which makes user adoption much easier than focusing purely on educating users on the blockchain.”