Our fundraising is over. Unfortunately we were not able to sell a sufficient amount of shares. We will return all of the coins to their owners. If you have invested - please send an email to us with a Btc address to receive the coins. Please use the same email from which your confirmation was sent.We are building a fast, reliable and scalable exchange, which will compete with the best players in the market.
We believe that Bitcoin and its successors will be a significant part of the world’s economy, and we are planning to be a part of it too by building services that will benefit all of the users and will make the transition to cryptocurrencies as friendly as possible.
There are many successful IPO stories of exchanges already but few of them were proven a reliable investment. Cryptoniac will start as a crowdfunded platform and by implementing a voting system combined with transparent financial activity for its shareholders will ensure the fairest relationship between investors and developers.
By analyzing the share prices of existing exchanges it was decided that the initial share price should give everyone the opportunity to buy in during the first funding period.
After the first funding period is finished, we will decide which securities trading platform will best suit our needs and release the remaining shares.
This listing will only become effective if at least 100,000 shares are sold. If the 100,000 shares are not sold by 28th February 2014 then all funds will be returned to investors and this contract will be null and void.
OverviewA trading platform/exchange for crypto and fiat currencies with the following possibilities/features:
- buying/selling of BTC/LTC/EUR/USD and other high volume currencies. More will be added by voting.
- trading API
- many other features will be picked via the voting system.
Our aim is to build a fast platform with reliable and quick deposit/withdrawal services.
The Listing
A total of 1,200,000 shares will be issued.
40% of these will be made publicly available = 480,000 shares.
51% will be distributed between the 3 founders = 612,000 shares with a 12 month lock-up period.
Up to 3% of the shares will be granted to the programmers who will work on the project during the startup period.
6% of shares will be reserved for the employees of the company (not the founders, but programmers, lawyer etc.) for 12 month. Shares not bought by employees during that time will be made available publicly.
Share PriceThe first 120,000 shares will be sold in 6 batches:
Shares # 1 – 20,000 will be sold at a price of 0.00005 BTC each. SoldShares # 20,001 – 40,000 will be sold at a price of 0.0001 BTC each. SoldShares # 40,001 – 60,000 will be sold at a price of 0.0002 BTC each. - 4168 remain
Shares # 60,001 – 80,000 will be sold at a price of 0.0005 BTC each.
Shares # 80,001 – 100,000 will be sold at a price of 0.001 BTC each.
Shares # 100,001 – 120,000 will be sold at a price of 0.002 BTC each.
Bulk DiscountFor a purchase of more than 0.05 BTC you will receive +1% more shares.
For a purchase of more than 0.1 BTC you will receive +2% more shares.
For a purchase of more than 0.5 BTC you will receive +5% more shares.
For a purchase of more than 1 BTC you will receive +7% more shares.
1 Share for SharingYou can also receive 1 share for free by providing a link to this post in a tweet, facebook/forum post etc. Only 1 share can be obtained this way. Please include the link to your post.
10 Shares for TranslationWe will award 10 shares for each translation of this topic to any other language. Please post the translation and a link to this topic in the corresponding local forum of bitcointalk, and reply here.
The listed will own:- the source code, its customer base as well as wallet balances.
- the domain name.
- hardware.
- a right to vote for new features/currencies/development etc.
Operation costsThe money accumulated from sold shares will be used to cover operational and advertisement costs, this will include the salary of the employees, registration of the legal entity, hardware and hosting services etc.
Operation costs for the first 6 month are estimated USD 60,000.
DividendThe monthly operating profit will be paid out as dividend in the first half of each month after the system goes live (beta). The security issuer will not be entitled to dividends for a period of 12 months after the listing.
Share BuybackThe security issuer has no right to buy back the shares.
RisksYou must consider this investment a high risk investment with a high probability that the expected returns will not materialize or even a total loss if the investment.
There are many risks of running an exchange service, some of them are:double spending attacks, government legal actions against the entity or its founders, website attacks etc.
Please don’t risk more than you can afford to loose.
The teamOur team currently consists of 3 company founders, 1 lead programmer and 2 programmers, all of whom will be working full time for this project.
Time ScheduleFebruary
- First funding period
March
- Registration of legal entity in a tax free country with a low level of regulation.
- Release of remaining stocks to public (e.g. on cryptostocks.com)
April
- Alpha version of the exchange (only for shareholders for testing purposes).
May
- Closed beta version of the exchange (only for shareholders).
June
- Beta version of the exchange working live.
We hope to present the final version end of July
How to investDuring the first funding period please send your investment to the following wallet:
BTC
1JynRVDKL3WeuufYqmFXamgGEysT6PmWpV
Please confirm it with an email containing the transaction id to the following address: investment at cryptoniac.com
The list of investors will be stored here (please specify if you want your name to be public on the list):
https://docs.google.com/spreadsheet/ccc?key=0Asej-zxRCkaQdERzVl9keE5iWVdqaU1CQlB6OXhDZkE&usp=sharingAfter the first funding period is over we will choose a suitable securities trading platform and move your shares to your account.
ESCROWWe are currently looking for somebody who can provide an escrow service for our investors until the project is listed on a trading platform. Please reply in this topic or PM.
