Algo.land is a platform that facilitates traders in algorithmic trading and provides token holders a governing power of the pool in a way that affairs of the trading pools are carried out via voting. A decentralized algorithmic-trading pool is based on blockchain technology and uses smart contracts for day to day business. The base currency of Algo.land is ethereum. All participants are compensated through blockchain transactions. Trading indices and forex appear to be the main interest of Algo.land pool.
There is a fixed set of rules for smart contracts concerning their online execution and are considered ideally compatible with the trading of algorithms. Developing Interesting smart contracts based on ethereum blockchain is remained no more difficult. Risk management of accounts, as well as payment management, are both part of smart contracts. Blockchain has reduced the cost of bot trading remarkably.
Algo.land serves traders as a decentralized solution for trading algorithms. The usage of smart contracts and ethereum based blockchain has given a new dimension to bot trading. Traders wishing to use automated trading bots need to purchase the bot through blockchain. The account opening process and minimum deposit transaction will also take place on the blockchain. Similarly, both brokers and traders are facilitated through smart contracts. Profits will be distributed to concerns in their electronic wallets. To make it simple to understand, Algo.land brings an innovation by shifting the already existed algorithmic trading system to the blockchain.
The ICO plans to issue token via crowdfunding. A customized token of Algo.land is known as “Plasmons”. One Plasmon is worth 0.01 Ethers. As per the available information, the ICO declares its “plasmons” as its pure trading equity, therefore, doesn’t offer any discount. There can be an increase in the numbers of Plasmons if all participants are unanimously agreed. Thus, the only source to become a participant of the pool is to buy Plasmons tokens from exchanges where these are listed. Remember, Algo.land is offering a limited number of tokens at times following reasonable spreads. Like all other ICOs, Algo.land too is committed to eliminating the role of the middleman and aims to keep everything transparent.
Since Algo.land is based on the blockchain, therefore every transaction will be settled in electronic wallets. All participants need to have their electronic wallets accounts to get compensated. The main advantage of electronic wallets is that they are safe and secure as well as transparent. You know exactly how much amount is paid and to whom.
The ICO Distribution
The ICO is due on 1st of November 2017. It will last for a more than a month such that it plans to stop its offering on 12th Of December, 2017. All tokens will be available to the public. The token supply will follow the proportion of contributions from token sale and a smart contract will decide the rate of emission. As mentioned earlier a single token of the ICO is equal to 0.01 Ethereum. The ICO has not defined any capping as long as the fundraising is concerned, however, it plans to raise a minimum of $300,000. All funds will be held in escrow which is multi-signature.
The teams of the ICO consists of three (03) core members listed below
Eddi Salm is the Founder and CEO of Algo.land
Jefferson Davis is the Main Developer of the blockchain.
Dieter Bratschi is a Data Analysis Expert.
A summary of The ICO is listed below
|Sale Period||1st November to 12th December|
|Initial Price||100 Plasmons are equal to 1 Ethereum|
|Distribution Date of Tokens||20th December 2017|
|Investment Goal (Minimum)||10 Ether|
|Maximum Investment Capping||None|
|Method For Holding Funds||Multi Signature Escrow Account|
|Pool Starting Date||27th December 2017|
|Role Of Token||Sharing of Profits|
|Supply Of Token||Proportional to contributions from token sale|
|Token Distribution %age In ICO||100%|
|Rate Of Emission||Evaluated by Contracts|
|Block Chain Currency||Ethereum|
Algo.land will act as a decentralized algorithmic trading platform. Following smart contracts, it will facilitate traders via blockchain. With innovative algorithmic trading and the incorporation of blockchain, the cost of a trading bot is also going to be reduced. We are quietly hopeful that Algo.land will bring a positive change in the world of Algorithmic trading.