Executive Summary
Project Description
The current cryptocurrency exchange market is riddled with certain problems and Capdax aim to provide solutions to the most pressing of them. For one, popular exchanges are a constant target for hackers and many users lose their funds as a result. To remedy this and also address the latency problems that exist due to overwhelming user demand, Capdax plan to use an auto-scaling modern technology stack. This will serve a dual purpose of securing the platform while assuring superior performance levels.
Another problem on traditional crypto exchanges is high user traffic. These days, it has become so bad that they cannot allow news users to register instantly. Users also incur very high fees on some exchanges and these fees do not seem to have any real basis. In spite of the difficulty to register and the unnecessarily high fees, most of these exchange platforms have substandard user interface and limited functionality, they also have very poor customer support. All these combine to make for an unsavory experience for new cryptocurrency investors.
Capdax cryptocurrency exchange wants to introduce a platform with excellent user interface and functionality that will meet the needs of both veteran and newbie traders. A unique function of Capdax is that it gives newcomers the opportunity to copy the trades of veteran traders. This gives the newcomers the chance to learn from those with more experience and in return, the veterans earn additional fees.
Users on the Capdax platform will also have a market research page where relevant information about all cryptocurrencies will be available (links to social media pages, whitepapers, community forums and a news feed). Additionally, there will be a customisable market overview page which every user can design according to personal preference. Users can include markets, graphs, and news feeds, further enhancing their trading experience.
The customer support problem mentioned above will not exist on the Capdax platform. They plan to be overstaffed with well-trained personnel in the customer service department; ensuring that users’ complaints and requests will be resolved swiftly. Capdax also plan to increase the number of customer service agents in proportion to the increasing number of users on the platform.
Hard Cap and Valuation
The fundraising cap for Capdax is pegged between $16M and $18M. Early 2017, seed investors raised ~$0.5M and presale for strategically-selected participants was capped at $9.5M in January, 2018.
The token allocation is as follows: 51% is sold during private and public sales, 33% is kept for future growth, 12% goes to the team and the final 4% is reserved for bounties, Capdax’s advisors, and their partners.
The tokens will be on a vesting schedule, but as at time of publication, the Capdax team cannot delineate exactly how it will be.
Price Per Token
Price per token is dependent on the market. However, there are different contribution tiers under consideration. Please note that only ETH is accepted.
Tier 1: Allocation of 1300 ETH + 25% Bonus
Tier 2: Allocation of 1300 ETH + 20% Bonus
Tier 3: Allocation of 1300 ETH + 15% Bonus
Tier 4: Allocation of 1300 ETH + 10% Bonus
Tier 5: Allocation of 1300 ETH
As one tier gets sold out, the following is automatically activated until all available supply of XCD is sold.
Important Dates
Public sale of XCD is billed to start by 05:00 GMT on the 17th of February, 2018; it will run till 05:00 GMT on the 17th of March, 2018.
The platform’s beta testing is scheduled for the 1st quarter of 2018 and Capdax crypto exchange will be officially launched in the 2nd quarter of 2018.
Marketing Power
As at the time this post was published, Capdax had almost 50,000 Facebook subscribers, over 3,300 followers on Twitter, 1,400+ members on Telegram, and 10 followers on Medium.
Prominent Advisors
Daniel Saito
- Advisor to Datum Foundation for over 6 months.
Kay-Mok Ku
- Partner at Gobi Partners, an early stage venture capital firm focused on IT and digital media investments in China.
Colin Charles
- Experienced technical architect and open source consultant.
- Advisor to various projects.
Jonathan Ha
- CEO of Red Pulse.
Well-Known Team Members
Aaron Amatus Bichler, Founder and CEO.
- Co-Founder of BeyondBlocks and Blockchain World Conferences.
- Advisor to WePower Network over a year.
Saber Aria, Founder and CMO.
- Co-Founder of BeyondBlocks and Blockchain World Conferences.
- Advisor to WePower Network over a year.
Howey’s Test
According to Howey’s Test conducted by Research Center analysts, it is unlikely that XCD will be considered a security.
Team Members’ Areas of Expertise
Business experts
Aaron Amatus Bichler, Founder and CEO.
- Founder of Maple Fund (a 4 year-old company) and Amatus (a company of over a year).
- Co-Founder of Sabias Labs for two years.
Saber Aria, Founder and CMO.
- Founder & CEO of Seicho for almost 4 years.
- Founder of Hoola Marketing Consulting for almost 4 years.
Target market experts
Aaron Amatus Bichler, Founder and CEO
- Co-Founder of BeyondBlocks and Blockchain World Conferences.
Saber Aria, Founder and CMO
- Co-Founder of BeyondBlocks and Blockchain World Conferences.
Gabriel Yang, Operations Manager
- COO at BeyondBlocks for a year.
Marketing experts
Saber Aria, Founder and CMO
- Marketing Manager at Mirror42 for over a year.
Gabriel Yang, Operations Manager
- Head of Business Operations at Seicho for two years.
Manno Notermans, Public Relations
- Director of Operations at Seicho for over a year.
- Online Marketing Manager at Creative Clicks for almost 3 years.
Rayed Chaudhry, Performance Marketing Specialist
- Digital Marketing Specialist at Seicho for over a year.
- Various other short stints in Marketing & Sales.
Legal experts
No team members with legal expertise.
Software engineering experts
Capdax do not want to release the names and details of developers working on their project for security reasons. More details are available in this article.
Blockchain development experts
Same as above.
Token sale structure experts
Some members of the Capdax team along with some of their advisors are connected to various blockchain projects. It is likely that they will bring some token sale structure experience to the project, but how much impact they will have is unknown at the moment.
Token economics experts
Same as above.
Disclaimers:
- Nothing written in this article is a legal or an investment advice.
- Information is provided on a best-effort basis and is subject to change without prior notice. Be sure to verify everything you read with a project team.
The analysis was produced by Research Center team members: Alexander Bugaj, Mark Jedd, Eugene Tartakovsky.
We are constantly working on improving our work and welcome all constructive feedback. Let us know what you think.
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Wow, another exchange! At least we'll have a lot to choose from this year :-P
What I find a bit strange is that the vesting/lockups are not clear. As potential investor this information is crucial..
Other question to you guys: Nick Ayton said on the event I attendes last week that the Howey test is rubbish. (You can read more about it in my last post: https://steemit.com/cryptocurrency/@cryptotem/insights-from-nick-ayton-about-crypto-and-icos-in-2018-bringing-you-stuff-i-picked-up-at-the-crypto-conference-dagvandecrypto-a)
Nick says:
“If you are trying to convince buyers that your taken is a utility, you have to be able to use it on a platform on day 1. If you are using a token as a way of raising capital, to bring into your project and you haven’t built it or haven’t finished building, it is a security.”
What is your take on this?
We tend to agree. We doubt that the future regulation will be as simple as Howey's Test suggests and that the SEC will follow test results. We've been observing regulatory environment for a while and intend to remove Howey's Test section from future articles. Instead, we will replace it with a different section which will appear when we see something, that strongly indicates that the token will be regulated as a security. For example, when it's marketed as an investment, officially states that it's a security or when it promises dividends.
Nice! Sounds like a good idea, tweaking your analyses this way :-)
I think I agree as well. Man, this space changes so fast. Keeps on getting more interesting ;-)