CoinDash – Creating The First OS For Crypto Assets
Heard of CoinDash yet? Well if you haven’t then you’re living under a rock! Jokes over, let’s jump straight in!
Coindash is basically a platform where you can manage your crypto assets. Using only your public key, the platform basically runs through your transactions and shows you your overall portfolio’s well-being, such as what’s doing good and what is lacking, thus helping investors improve their day-to-day trading skills.
Sounds like it’s been done before, can’t I use an app like Blockfolio? Isn’t that similar?
Not really, Blockfolio does indeed show your portfolio status and what not, but it doesn’t go any further, CoinDash is like it’s successor, and has quite a lot of awesome features mentioned above, basically giving a better in-depth analysis and recommends what you should or shouldn’t do. (We’ll get to how it knows this a bit later on)
The Killer Feature – CopyICO
It’s one of the big thing this coin has running for it, CopyICO! The name says it all, the CopyICO function allows you to use a smart contract on the Ethereum network that will automatically participate in ICOs for you.
But how will it know what ICO’s to invest in? What if they’re a scam?
CoinDash has thought about this issue, and also have a solution, The CopyICO feature will make ICO investments based on other reputable traders you choose to follow. Dramatically reducing your chances that it’ll invest in a Ponzi or scam ICO, and also, in turn, more likely to increase your profit margins.
“The CopyICO feature will make ICO investments based on other reputable traders you choose to follow.”
— CoinDash.io (@coindashio) May 16, 2017
More about the how the platform works
Other than giving its users necessary tools to track their portfolio’s performance, positions, and investing in new ICO’s automatically, CoinDash also offers professional, more experienced traders, the ability to share their investments and moves to their followers, thus introducing a trade-sharing mechanism.
This new sort of trade-sharing feature introduces another way for traders to make some extra money, an eminent example is: Reputable traders can charge their followers a certain fee to allow them to view their trading moves, which is a win-win for both. Big and experienced traders get paid for showing their trading moves, and their followers are in turn more likely to see better profit margins and results, so even the newest or low-level risked investors can join the party without worrying as much.
Token Use Cases
So what’s the point of adding a token, what will it’s purpose be?
CoinDash’s token (CDT), will be required to make any financial related moves within the platform, a better way to understand it is like a gym fee. Whenever you go to the gym, you’re required to pay X amount of cash to be granted access to the gyms training equipment. Same thing here, you’ll need to pay a fee in the form of the CoinDash token to do something of financial value.
— CryptoNinjas (@crypto_ninjas) May 10, 2017
Token Value and Derivation
Since the token will be used to pay fees within the platform, it’ll make a direct link between CoinDash’s value of the token and the success of the platform. As more people use CoinDash they’ll need to pay fees, which means they’ll have to buy CoinDash tokens, therefore increasing demand, and we all know what’s next, the price of CoinDash’s token rises!
It’s a very smart but logical system, directly correlating the success of CoinDash with its token is sweet, so if CoinDash does go mainstream or even just goes ‘big’ within the crypto-realm, then early bag holders will only profit from the token.
According to CoinDash, the token will be a standard ERC20 token on the Ethereum blockchain, which is directly run off of a smart contract and also allows exchanges and other services to quickly list the coin up for trading. That’s nice!
Supply and Creation: A total of 1,000,000,000 CDT will be created within the ICO.
It’ll be allocated as follows:
50% (500,000,000 CDT) will be set to be sold in the ICO
29% (290,000,000 CDT) will be set aside and minted for the future development, marketing, and ‘user acquisition’
20% (200,000,000 CDT) allocated for the core team, advisors, and early investors
1% (10,000,000 CDT) is set to be distributed to CoinDash’s social bounty programs participants.
The Big Date
CoinDash’s ICO is set to go live in July 2017, so not for from today.
About The CoinDash Team
It’s really relieving to see that CoinDash’s team is open and plentiful. The team does look genuine and they can be traced back to real people.
It’s also good to mention CoinDash has gotten quite the media coverage, and some big names have partnered up with them. (See above photo’s)
The Final Verdict
We do believe CoinDash is an awesome new ICO and if it can live up to its promises, we’re sure the platform and token will only reap benefits for early investors and the crypto-trading world as a whole.