Carboneum to fund social trading platform with $12m ICO
With a week to go its initial coin offering (ICO), Carboneum announced on Monday that proceeds of the expected $12m sale would go towards setting up the protocol for a “democratised social trading platform”.
CoinRadars, as the platform will be called, will enable users to mirror the trades of designated crypto-trading experts.
“Whenever, the leader makes as trade, the user will automatically do so as well, allowing users to learn how to crypto-trade like an expert,” the company says.
Getting it wrong?
But crypto-traders surely get it wrong occasionally? The company, therefore, will only charge fees on profitable trades, it says.
“Should a user not profit by a trade via the platform, they won’t be charged a penny – meaning users can experience and learn the art of crypto-trading without the worry of losing money.”
The system will run carboneum (C8) tokens, with 120 million of them going on sale on 24 June. The ICO will run through to 8 July or, with each token worth $0.1, until the $12m cap is hit.
Ether and icon are the required currencies needed to purchase carboneum tokens.
Max Kortrakul is the founder and chief executive of Carboneum. He says: “We’re extremely pleased to be able to launch our ICO.
“The prospect of trading in cryptocurrency leaves a lot of people scratching their heads due to the sheer volume of information and know-how that is required to do it successfully.
“We want to simplify this process and encourage people to make use of the existing expertise that is out there for their own benefit.”
CoinRadars is expected to launch in October, while the pre-launch of the social trading platform will follow in the first quarter of 2019. The full launch will follow in the second quarter.