Bitcoin Forum

open information about the number of users you have at the moment if not difficult. many people can make exchange platform but only make it popular. if im understood everything correctly, you also did the security check?

Our product is still in development. We are still building the security and as you would expect, we will pay for independent security check as soon as we have MVP in our hands.

OP not have full info about the features and concept of this project even on official no clue about the dev team who is behind this project. Full features exchanges are becoming really important so that if this project is backed by professional than it will grow healthy.

Thank you for your comment. We have already prepared some additions to our white paper and will update it soon. Also, we are working on a better and more transparent way to introduce our team, including our devs. Would like to see any particular feature / concept explained in detail?

Thank you, much appreciated, Wiserico.

The company claims that it will be different from other similar projects, but how? what is new to protect your customers from fraud? how many tokens do you need to purchase to replenish your ranks (in dollars please ;D)?

Hello Tata011, thank you a lot for all three of your questions. Let's open a bit about our inner workings and plans.

The company claims that it will be different from other similar projects, but how?

• Sonata.ai will actually work the way an exchange traders would expect. If you ever used Forex trading tools as a daily routine, you already know that most of crypto exchanges got the core functionality wrong. This is what we will do differently.
• We believe that we have a excellent business model, great mixture of functions and that Sonata.ai will be more than just a sum of everything.
• Please have a look on our white paper to find all differences in features section. Do you know any other (currently available) exchange that can offer exactly what we do, including how our tokens is used? Let us know!

What is new to protect your customers from fraud?
First of all, there is no such a thing as an impenetrable system that would protect all customers from a fraud. But let me name a few of our things that distinguish us from others:

• We are directly backed by an investor with 24 years experience in finance industry. Solidni finance a.s. is easily searchable, has a reputable history and a clean slate.
• We have history in cryptocurrency, albeit a short one. We have already created small fiat - crypto exchange for Czech market. Although it is no wonder, it can still be a clear proof that we can deliver a product.
• Sonata.ai will be developed whether you decide to invest or not. We will show the progress of our work to insiders and public. It will be only up to you if you find our project interesting enough.
• There is clear equation: the earlier you will invest, the bigger bonus in tokens and higher risk. The later you will invest, the closer we will be to an actual platform, so you can see what you will invest to.

How many tokens do you need to purchase to replenish your ranks?
Work on the exchange is in progress as we speak. On the other side, it is true that we plan to grow bigger if we see positive reaction of general public. Solidni finance a.s. invested $4,000,000 to make this happen.
If we sell tokens with this value, we have green light to assemble a team with full potential. That will effectively help us to deliver all promises we have made so far.

Hope I have answered everything. If not, please feel free to ask more!

Thank you, ICOscale.
We will have a look on your website!

Hello!
You`ve mentioned that You have experience with a small fiat - crypto exchange for Czech market. Could You give a link to it and mentioned its daily volume. What legislation it was incorporated in?

Hello!
The exchange can be found:

• here: https://sonatacoin.cz/ (Czech version)
• & here: https://sonatacoin.com/ (English version)

All information you'll need regarding the legislation should be available here: https://sonatacoin.com/terms/
As for daily volume, let me get back to you as soon as I'll get that information from my colleagues.

Very interesting project. Beautifully composed. I would like to ask, is your exchange working with hardware wallets? Is it possible to work in short in a falling market?

Thank you for saying that. We are doing our best to address real issues of traders. Of course, Sonata will work with hardware wallets. We are big fans of HW wallets ourselves.
Not sure I understand your second question though. Are you asking if we can develop our platform quickly?

Thanks for the fast answer!
So, I`ve read in the WP (page 12) that the expected fees for the transaction of BTC, LTC, ETH is going to be 0.09% / 0.19% (decreases with volume).
So If I would sell/buy 1 BTC I`ll  pay 0.01 BTC fees (=64$ at this moment)? Isn`t this too large fees for the exchange transaction regarding the existing competitors fees?

Very interesting apparently, when the founders of this project are those who previously was involved in the sale of company stock and derivatives. Talking about this project, how about their security? given the numerous exchanges that could be anytime in hack, how do you prepare them?

The stock exchange today is very popular among investors, so I’m happy to go into such projects. Tell me, I understand correctly. At this stage, you have raised $ 4 million?

I am glad that you've noticed, it's true that one of Sonata founders has 24+ years experience in stock / derivatives trading.
If you are interested in some basic security precautions we are using, see our white paper (https://sonata.ai/#whitepaper).

We are currently working with a few security auditors and trying to implement all possible measures to secure our product.
You can look forward to read some more updates on our Medium, since this is the topic everyone is apparently interested in.

Development of Sonata.ai was initiated by an investor, who is backing the project with his own money. This is where the money (equivalent of $4 million) is from.

Great to know that you have private investor on this project. It means, the development will gonna push thru no matter what. By the way, is this registered in the jurisdiction of UK? Your address from the website is in UK so I'm assuming you have the legal docs under them.

Also are you going to support fiat currencies? And what are they?

Yes, we are indeed registered under a jurisdiction of UK. See details here (https://suite.endole.co.uk/insight/company/11395116-sonatacoin-ltd).
Fiat currencies - yes, USD & EUR. We are currently in the middle of negotiating terms with our partners on Malta. We will keep you informed, watch our social media.

Wowww...Emezing Project, Real Team Good job

Hi there !!

You can read ANN and Bounty in Greek.
Just follow the links:

ANN - https://bitcointalk.org/index.php?topic=5064278.0
Bounty - https://bitcointalk.org/index.php?topic=5064301.0

Thank you for this question! These are early estimates. The market is ever-evolving and so are trading fees. Be sure that we will do our best to provide really competitive prices. Not the lowest, but for sure lower than average. Main reason why we don't want to go on minimum is because it's not sustainable state and we want to provide sufficient rewards for SONT token holders.

As for your previous question: Sonatacoin.cz has a monthly volume in tens of thousands of USD, so it is a really small exchange in every meaning of that word. Please, be aware that this is fiat -> crypto & crypto -> fiat exchange. Also we didn't focus on the marketing, because this product was basically a playground for us.

SONT token allows us to share our profit with you. Owners earn 80% from the fees and receive the reward on regular basis
so, just buy and hold this token in exchange we will get 80% rewards from the fees, right ?
regards

Hello, thank you for your interest in Sonata. Could you please use up-to-date information in your version ANN? See current token sale phases: 1st was update to a private sale!

Thank you very much.

Hello! Yes, exactly. This is how it works: 80 % to holders, 20 % to Sonata.

I saw your website, it looks convincing. I am very glad that the translation into Russian is made flawlessly. Good luck with your project.

As in any other similar projects, the net profit is taken after the operational expenses have been removed and divided between the holders. Although under the new rules of regulators in the United States and other countries, this can be considered as dividends, and this is a problem on many trading platforms.

I think it will be interesting. I already see the serious intentions of the team. it looks promising I will follow that.

Thanks mate!
Your statements argumentations seems logical and legit for me.
So, You mentioned that Sonata.ai team wants to provide sufficient rewards for SONT token holders but indeed as was mentioned in the recent post in this thread this would be considered as security token according to the Howey test rules. What are your minds and expectations on this fact?

Hi,
you can read the Greek Whitepaper:

https://drive.google.com/file/d/1yl6as7xsoUHjXJWcJrm2mbF0V89vQvtc/view?usp=sharing

Thank you. If you have any question, please feel free to ask!  :)

Great question! As you probably know yourself, this is hot topic of the last few months.

• First of all, we are in the process of acquiring corresponding licence on Malta. We will be offering our security tokens legally. Currently, we are using a legal loophole and we offer our tokens only to carefully selected institutional investors.
• Second of all, we would like to take a bite out of the market ourselves. We plan to provide sale of a security tokens of other subjects on our platform. We believe that ICOs can in long-term replace IPOs for startups and medium-sized companies.
• To be honest, this is daily topic in our company and I feel like we have already spent too much time on it with our lawyers. And there is a lot more of work to do, if we are to stay ahead of the competition. Hope I've mentioned all important information.

Great news! :)
Our first public prototype is ready for your clicks. 👉💻 See it yourself! If you have a little time, please share your feedback.
We will be happy to hear what you think.

>> https://demo.sonata.ai (https://demo.sonata.ai/?utm_source=forum&utm_medium=link&utm_campaign=demo_launch)  8)

Hello to all visitors from Vietnam! Cho các bạn người việt của chúng tôi! 🇻🇳8)

Channel VU VIET ANH Review New Crypto made a 3-part video about Sonata.ai:
1) https://youtu.be/wqI7a6i5qgs  👈
2) https://youtu.be/z0B9A3EqTrI  👈
3) https://youtu.be/t3b7W4vKXjc  👈

✨ Expect our own videos in English soon! ;D

After all the changes that have occurred, do you still want to register a company in Malta? They now plan to take taxes for work on their territory. I do not think that this is the best option for investors.

Well, we consider few countries, but it doesn't seem that we will avoid taxation anywhere after all.

Greetings! Would the project be interested on a FREE Portuguese translation of its Whitepaper?

•   We are a brand new Brazilian group willing to establish ourselves on the market as the main source of PT translations (and other languages in the future) of White Papers and documents in general. Therefore, we'll be temporarily doing some jobs for free in order to build an initial portfolio;
•   It's a great opportunity for projects to expose themselves to a fast-growing market (the cryptocurrency market had a 40% expansion in the period of Jan-Jul18 in Brazil) where only ~5% of the people have a good understanding of the English language;
•   At this phase, it's totally up to you to decide if you want to make a voluntary contribution to our group once we deliver the translated file or not;
•   You can find us on Twitter as @PortCrypto (https://twitter.com/PortCrypto), reach out to us at cryptoport.services@gmail.com or even see our already done jobs on Google Drive (https://drive.google.com/drive/u/2/folders/1VtrFW1wqkD-BHmdw6BZEa7Sjbs6KnVVC)!

Best regards, CryptoPort!

This will make everyone interested in joining this project. this project is promising for everyone and you should look deeper into the development of this project.

security is the most important thing on any exchange,,
i hope this exchange project will focused in security first, then others great features will show up

Let's see how you can do it all the same it will be very difficult to do if they decide to actually take taxes. Do you have a lawyer and accountant in the team at the moment?

Of course, we would be lost without professional help. We share team of business lawyers with Solidní finance + we work with external companies, specialized in ICO / crypto, since this area is a very specific.

Is our white paper too long for you? We've found this handy article describing Sonata.ai in a nice, compact way: https://steemkr.com/ico/@sergeyklimenok/sonata-ai-crypto-exchange-with-long-term-profit (https://steemkr.com/ico/@sergeyklimenok/sonata-ai-crypto-exchange-with-long-term-profit)

We all see what happens. I would still be very cautious because the market is now changing just before our eyes. And in a worse way, especially from regulators and states that used to smile and now are clearly not happy. I am sure that you have prepared as necessary guys.

The market is changing, but it's change for the better. Crypto is finally becoming part of a globally accepted, adult market. Up until now, cryptocurrencies were often gray zone matter. Many conservative traders were waiting to jump in exactly for this reason. We believe, that if the mainstream crypto space is fully regulated, we will be even closer to a mass adoption. Once all the legal work in all big countries is done, we expect that crypto will finally lose the public label of "money for pedofiles, technocrats and gamblers" and there will be even bigger need for our product.
Good times are coming.

Hello Cryptolaboratory, thank you for your rating. We appreciate your interest!
Good luck with your rating webpage!

And what is the requirement for a new currency to be listed in the Sonata exchange? Will it be by vote or fee payment? And this security in the wallet, it will be impossible to lose the assets of the users?

First few batches of token listing will be based on votes (as promised in our white paper).
Only later we will introduce hybrid listing system based both on voting (popular tokens will be listed) & fee payment (other tokens can be listed for a fee).
Before the actual launch, our platform will have a thorough third-party security audit. Also, we are already working closely with security experts. Assets of the users will be as safe as they can be.  ;)

Thank you for your questions, if you want to know more, feel free to ask. We will be happy to explain everything.

See our new video about Sonata.ai: https://www.youtube.com/watch?v=vwSKPSF6SY4 Five more coming up.

The product itself seems to be good. I surely like the focus on the security of the token stored, but, as many other projects in this field, it does not encourage trading, but just hodl and lending. Anyway, the features can be potentially interesting.

although many projects have similarities but this one project certainly has its own advantages and certainly the team involved here will also always try fully for this project to succeed later.

yes I really like team behind this project because they are very active in providing a lot of information and I also plan to join bounty after completing some of my current work and I hope not late

Security is the major aspect when it comes to exchange point of view because many people will show interest only when they show their credibility in the market by following security measures and listing potential coins in the exchange.

You said that your exchange bucked by "experts". But as I see your team don't have a solid experience in this niche and they were not works at solme known companies before this project. Or you just means advisors?
At 1st page I see that token sale was started 8th October, it still ongoing or finished and how much raised so far?

It is impossible to stay at the beginning of the project, Still, they are crowdsale which it is impossible to stay before crowdsale. They have a potential team but we have seen many projects without any developments after the crowd sales.

yes cryptocurrency has grown from the period of not been recognize to a period where the institutions are paying more attention to its existence and global recognition,  
now notable investors will be interested to know more about what this space is all about and the many potentials inherent in crypto,
once the crypto space is been regulated, there will be confidence and some level of security, many bystanders will want to jump in and be part of this great technology,
this will also provide opportunity to flush out all the fake and false project who only disguise to take investors money,
now project owners will be very cautious because they know the sec will be on their detail for any misconduct.

Exactly. Regardless the intention of cryptocurrencies (anonymity, untraceability etc.), the companies providing a crypto-based services should be treated as any other company – they must be legible, legitimate and authorised to conduct business operations (having a proper licence). Once this is common in the crypto world, investors can stop worrying and just choose the project that they like.

Good point! We believe that we can encourage our users by low (or none) fees for some transactions and by building in-house community of traders who will be willing to help each other. We have also borrowed some gamification elements to make the trading more fun.

ppl have a hard time trusting ico's that promise short term gains how are we to believe that you will deliver on long term promises, we dont even know the dev team behind the idea.

There are three important components in transactions.
- Fees: should be as low as possible.
- Speed: should be fast enough for demands on transactions.
- Protective mechanisms: to prevent attacks from too fast transaction speed (so why I say fast enough).
Generally, it's good to know the Sonata.ai platform promises its cheap transaction fees.

Our introductory series about Sonata.ai is now online – watch THIS (https://www.youtube.com/playlist?list=PLZCavZLDiBBBB5Lao5FMta0Ehnwt2kERU) playlist! :o

Hello! When started token sale?

Private sale is already ongoing, public sale will start at the end of Q1, after a round of 1-on-1 meetings with private investors.

Our lead developers are Jan Sedlacek and David Stuller, both have 15+ years experience in corporate programming. The dev team is handpicked by them. Would having the names of other programmers in the team help somehow?

Enter our Twitter contest to win SONT tokens!

See the latest contest on this link:
https://twitter.com/Sonata_ai/status/1088253026131943424

http://data.sonata.ai/forum-kit/contest.png

This week you can look forward to taking part in a new contest on our Twitter @Sonata_ai (https://twitter.com/Sonata_ai). The first targeted your creativity, the second your trading skills, this time we will focus on your speed. Are you ready? :D

Get a head start by reading through our white paper: sonata.ai (https://sonata.ai).

We will start our public sale on 1 March 2019.
To get a head start on this topic, join our Telegram (https://t.me/joinchat/IwX6Zg-NhB3cJK1hPfbzVw)!  ;)

We have updated our English white paper. Other language versions will be updated soon. Read the document here (https://sonata.ai/documents/whitepaper-en.pdf).

Sounds like a very nice project
Good luck

Thank you!

Hello Dev i have some Question regarding project ..

Feel free to ask, that's what we are here for!

I see on your website that you are running ICO for phase 1 and now around 37% of tokens are sold, has it reached softcap? and each phase has how long? when will ico end?

We are running an STO, end of public sale is decided to be on 30 April. Every phase is approx. 20 days.

For the tech-enthusiasts (read "🔙🔚 programmers") among you, we have posted an article that you might find interesting: https://medium.com/@sonata_exchange/microservices-14287c35cffd
Explore a little bit of the technical aspect of the platform and let us know what you think. 😎

can you give us also the amount generated per stage of your sale?
100% means how much?

https://i.imgur.com/Yzov556.png

and now it is 86% of what?
also would be great if you can attach the inclusive dates per stage. you can always do the extension of extension of sale if you will not put dates...

The percentage shows time, not tokens sold. So in this case, 100% means "phase ended". 86% means "86 % of time has passed".

Token sale dates

• Public sale 1: ongoing, ends 21 March, 23:59 CET
• Public sale 2: 22 March, 00:00 CET – 10 April, 23:59 CET
• Public sale 3: 11 April, 00:00 CET – 30 April, 23:59 CET

Available tokens

• Public sale 1: 50,000,000 SONT
• Public sale 2: 75,000,000 SONT
• Public sale 3: 105,000,000 SONT

Number of tokens sold during each phase will not be published.

The public sale phase 2 is now alive 💪
Bonus goes down, but you can still get SONT tokens with 10% extra!
Register here: 👇👇👇
https://sonata.ai/registration

http://data.sonata.ai/forum-kit/public-sale-2.png

how long the public sale phase 2 will live and for phase 3 too
because I can't see Ico going to end up on roadmap, and another one where I can see the funds collected now? can you share contract address?

Hello, for first part of your question, see this reply:

Currently, there is no way for you to find out about collected funds. We will not release this information during the public sale. All SONT tokens will be sent to their respective owners once the KYC is completed, before that there will be in our wallet. Contract address is here: https://etherscan.io/address/0xd90dd9aeff7a347112dd07a892a52dd2d5627877. Have a great day!

damn it, I missed this post

but you will publish after the public sale ends?
I also see that your project doesn't have softcap, so whatever funds are collected after 30 April, the project will continue? right

It's exactly as you wrote: the STO will end, but the project itself will continue. We don't have softcap, because we are working on the platform no matter what is the outcome of the STO. We are already funded.
Hope this helped.

cool ,, I like projects like this because I already have my own funds to do development, it looks like I'm interested joining Ico and supporting your project 8)

thats great,, if this project already funded,,
but depends on sonata.ai official website, now this project run in Public sale Phase 3,,
my questions is, when the public sale will be ended ?
thank you

well, sounds interesting to heard a kind of exchange project don't have a soft cap and already funded
seems the public sale almost done, i see in the website now this project public sale phase 3 is running and already 99%,, soon will touch 100%
anyway will you share how much funds collected during all crowdsale period dev ,?

Why there is no twitter updates?

Is this project abandoned?

not only did there not be any updates on social media but their telegram also disappeared, it looks like the team has left this project and this project can be said to end up scam, so forget it