CryptoPing, new project for cryptocurrency traders, announces ICO launch on May 25, 2017 at 12.00 AM CET to fund further project development. The crowdsale will continue until June 25 12.00 PM CET.
CryptoPing is an alternative cryptocurrency intelligence bot. It constantly monitors altcoin markets, generates trading signals and notifies subscribers in Telegram. The project has been in public beta-testing phase since March 2017 and has already attracted more than 700 active users.
CryptoPing team is aiming to create a platform where experienced traders would be able to share nuanced trading signals publicly or anonymously and create a learning environment for their followers. Developers can be reached easily, are open to feedback and keep active chats where they share details about the project, update on latest news and communicate with users.
Behind the project is a group of successful cryptocurrency traders with 5+ years of experience who prefer to remain anonymous. No additional information about team members is available yet. Meanwhile, CryptoPing is one of the few projects on ICO market that already has a working beta version, active user base and is ready for public launch in a few days after the crowdsale is finished.
9,000,000 tokens based on Waves platform are to be issued for ICO with total worth of 1000 BTC. Additional 1,000,000 tokens will be reserved for one-level 10% referral program. Investments of 100 BTC and more receive 15% discount on tokens. Any undistributed tokens left after crowdsale will be burned.
CryptoPing tokens will be used to access project services, but payments with Bitcoin or altcoins will be enabled in the future. Tokens will be distributed in a week after ICO ends. There are plans to add them to several exchanges, while token price will be constantly increasing due to limited supply and user base expansion. Developers want to ensure that token price remains high, and there are plans to burn 75% of subscription fees paid in tokens. Moreover, if subscription is paid in Bitcoin/altcoins, 50% of subscription fees will be directed to buy tokens back off exchanges and burn them too for the first 6 months after token is added to any exchange, and 10% of fees to do that for a year after that.
Monthly subscription fee is currently set to 0.01 BTC or its equivalent in tokens or alts. Subscriptions with tokens will get 25% fee discount. A public log of subscription transactions, buybacks and burned tokens will be available to every investor to ensure operational transparency.
Developers are quite confident in their success:
“If you check, for example, Google Trends for “Poloniex” or “Bittrex” queries, you’ll notice a swiftly growing interest for exchanges and cryptocurrency trading past year. Forex doesn’t cut it anymore. People look for something new and more profitable, something accessible for everyone. Being a part of crypto community, we see increasing interest for trading and the desire to trade freely and anonymously and exchange useful information about trading. Some private trading groups have more than 200 members, and public trading chats often have thousands of users. Open platform for public trading signals is in high demand.”
After ICO ends, the beta version of social trading platform will be launched. Any user will be able to become a “public trader” and keep automated public record of their success (stats on profit from trades made by bot signals). The platform will feature public trader rankings where users will be able to pick up traders they like and receive signals from them. Following a trader is a paid service that brings additional income to public traders, while beginners will receive more reliable and profitable signals.