Where we are now
This post will be updated from time to time to give a clear picture as to where we currently are as a platform. We’ve built an Ethereum Token marketplace which enables anyone to create an ERC20 Token in less than 5 minutes, as well as trade any ERC20 Token entirely p2p through our smart contracts. Interaction with our Dapp happens through our APIs and our Dapp. We don’t hold any private keys, and users are always in control of their funds. In addition to trade of single Tokens, users can create a portfolio of ERC20 Tokens and trade the entire portfolio in a single transaction. All trades are done through users’ metamask accounts.
December and January Roadmap:
WandX platform: 1. A seamless front-end to create any erc20 Token without any coding in under 5 minutes(just enter the Total supply, Token name, Bonus structure, Divisibility, Initial price). 2. Create and trade in baskets of ERC20 Tokens through a simple front end. Trade is entirely decentralized as per the architecture given below. This will be out on the Ethereum main network by December 10th.
Team: We’re training over 10 developers on Ethereum, and will have many of them ready to start in Jan 2018. We’ve grown our team by 4 in the last week.
Targets: 1. List over 30 Tokens on our platform by end of December. 2: Get started with a pilot for our use case in the energy/carbon credit market. 3. Finish the Token creation page on the platform, enable at least one new Token to be created on WandX.
Current raise: We’ve got good news. We have raised over 1500ETH so far (both as a combination of ETH as well as Fiat). We raised over 1050ETH in the Crowdsale, and the rest in Fiat. We have got confirmation from a crypto fund for $400,000. The due diligence is ongoing, and will be completed by Christmas. We’ve built something of real value, and now we’re all set to market it across the crypto community, get real world use cases, and start getting transactions on the platform. This will not only be done through marketing, but through
Tokens: Wand Tokens will be released for all remaining bonuses on December 5th 2pm GMT. Wand Tokens will be reserved for the Crypto Fund investment. Wand Token sale closes on December 5th 11:59pm GMT. Wand Tokens for advisors and founders (26%) will be released by December 10th 2pm GMT. Rest of the Wand Tokens will be burned after this.
The cryptocurrency space is an esoteric space as of now; we want to bring it to a larger network of users and businesses. Hence, we are pursuing the below opportunities:
- Easy Tokenization of business models: Enable SMBs to easily Tokenize their business models and essentially offer the equivalent of loyalty points/promotions on Ethereum through the WandX Platform. WandX would provide a seamless interface to enable the creation of an ERC20 Token. SMBs would require Wand Tokens to use our platform. After this creation, SMBs could enable liquidity of their Tokens through enabling p2p trade of their Tokens on our platform.
- Carbon-offset Token: Creating the first ever issuance of the Carbon-offset Token through the WandX platform. The pilot for this will start in the next two weeks in partnership with a couple of renewable energy companies. Owners of this Token will also have to own Wand Tokens to enable trade of their Tokens on the WandX platform.
- Listing new Tokens: Many new erc20 Tokens, that are not securities, are going to be listed on our platform soon as our platform launches into the main ethereum network.
Our current competitors include Kyber, 0x, Airswap. We believe that we can differentiate because we’re enabling two different business models — Tokenization of existing businesses and bringing them onto the Ethereum blockchain through the WandX platform (hence they have to own Wand Tokens to use this service), our contracts for p2p trading were built from scratch incorporating our custom Split Vault algorithm to minimise gas costs, offering portfolio trading as well as newer products coming out in Q1 2018 (ERC20 Token futures).
