BTCRobot & CoinzBot IPO计划

BTCRobot & CoinzBot IPO计划
BTCRobot & CoinzBot IPO Plan

一、Btcrobot & CoinzBot是什么？
What are Btcrobot & CoinzBot?

Btcrobot是一个开源的、非常优秀的BTC/LTC算法交易软件，用go语言编写，网址：https://github.com/philsong/btcrobot 。CoinzBot是Btcrobot商业化产品名称。
Btcrobot is an open source, highly acclaimed BTC/LTC algorithmic trading software. It is implemented with the GO language, and has its official repository located at https://github.com/philsong/btcrobot. CoinzBot is commercial product name of Btcrobot.

Btcrobot能在OKCOIN、HUOBI上按照预定算法，自动买入和卖出BTC/LTC，支持的基础交易算法有：MA、EMA、MACD、KDJ等。
The Btcrobot software today is able to integrate with a number of exchanges (OKCOIN, HUOBI), and automatically buy and sell based in pre-determined algorithms and parameters. The base algorithms supported include MA, EMA, MACD, KDJ etc.

目前有很多比特币和莱特币玩家使用它来获利，许多程序员基于此开源软件开始做自己的交易策略。
There are a number of BTC and LTC enthusiasts using this software to make a steady profit. There are also programmers who are developing customized trading algorithms.

二、CoinzBot IPO的目的
The Goal of the CoinzBot IPO

本项目并非只是一个思路和想法，Btcrobot已经是一个比较成熟和稳定的开源软件，目前处于产品化后期、商业化前期。
This project is beyond just an idea or a direction. Btcrobot is a mature and stable software. Currently we are planning for its final go-to-market and commercialization.

CoinzBot项目将启动 IPO计划，筹集的资金用于以下工作：
The CoinzBot IPO plan aims to raise money for the following efforts:

(1) 继续开发免费的、开源的Btcrobot版本；
Continue to develop the free open source version Btcrobot.

(2) 组建开发和运营团队，开始专业化运营；
   Expand the development and operations team, start a commercial operation around the software.

(3) 开发商业版本CoinzBot，出售软件和服务来获利；
   Build a commercial version of the software named CoinzBot, market the software and related services for profit.

(4) 研究更可行的交易算法，以出售独立的交易算法模块获利。
   Develop additional trading algorithms with more advanced strategies, market individual algorithm modules.

三、CoinzBot商业计划
CoinzBot Business Plan

3.1商业版
Commercial Version

商业版的发展方向是：算法交易、大户操盘、多交易所自动化套利。
The CoinzBot Commercial Version is to be developed along the directions of: algorithmic trading, large volume transactions, and multi-exchange automation arbitrage.

商业版将逐步实现以下功能：
The commercial version will gradually cover the following functionalities.

(1) 界面重新设计，推出多语言版本，如英文版；
   Redesign of the user interface, with multiple-language support, such as English.

(2) 支持更多的交易所如btc-e.com，bitstamp.net；
   Support additional exchanges, such as btc-e.com, bitstamp.net.

(3) 支持更多的虚拟币和交易指标；
   Support additional virtual currencies and trading algorithms.

(4) 更强大的操盘功能：手动实时(定价/市价/阶梯)下单、计划(止损/止赢，定价/市价/阶梯)下单；
   More powerful trading capabilities: manual real-time trading (limit orders, market orders, stepping orders) and automatic trading (limit-loss, limit-win, limit orders, market orders, stepping orders)

(5) 更多更精准的机器交易策略，实现交易策略API接口；
   Additional precision trading algorithms, implement API for trading strategies.

(6) 市场深度检测，仓位控制；
   Market depth awareness, portfolio position analysis and control.
(7) 多交易所套利，利用多个交易所的差价来自动买卖；

   Multi-exchange arbitrage, with automatic trading from different exchanges if significant price differences are detected.
( Cool

多用户多交易策略支持。

   Supporting multi-user multiple-strategy trading.

3.2算法交易的价值
The Value of Algorithmic Trading

算法交易(Algorithmic Trading)是指以一定的技术指标为依据，事先设计好交易策略，然后将其编制成计算机程序。利用计算机程序算法来判断买入点和卖出点，决定下单的时机、价格和数量等。
Algorithmic Trading is the practice of designing trading strategies based on technical indicators, and implements such strategies with computer software, which applies the various algorithms and carries out the trades by deciding the buy/sell operation, time, price and quantity, etc.

它给人们带来的好处有：
The advantages include:

(1) 下单时大单分拆为许多小单，减小冲击成本；
Large orders can be split into small orders, avoiding to move the market.

(2) 在突涨时更容易买入，在突跌时更容易卖出；
Easier execution when there is a sudden surge or drop of the prices.

(3) 理性止损和止赢；
Rational decisions to limit losses and to limit wins.

(4) 同时操作许多帐户；
Simultaneous trading through multiple accounts.

(5) 全自动操作，无需人们长时间盯盘。
Fully automated operation, no need for constant monitoring of the market by a human being.

它也有一些弱点：
There are a number of disadvantages as well.

(1) 某种交易策略一旦被许多人使用，就会产生共振效应。许多机器人会在同一点买入，使得买入价格变高，或者无法买。
When a certain strategy becomes widely used, the effectiveness will be diminished. Many trading parties will be executing the same trades, making trades difficult or impossible.

(2) 假突破或假突跌时，会被欺骗；
A a breakout or a pullback may prove to be false or short-lived. In these situations the trading strategy may incur loses.

(3) 对大势无法准确判断，需要人工干预。
The overall trend of the market is not reflected into most trading strategies, manual interventions may be needed if related adjustments are desired.
总之，算法交易有较大的价值，但并非买了类似软件，就能闭眼挣大钱。机器的理性和人类的判断相结合，效果更好。

Algorithmic trading offers great advantages, but it is not a way to make money with your eyes completely blindfolded. The best result will be achieved through the careful combination of algorithmic trading and human judgments.

3.3目标客户群和本项目价值
Target Customers and Value of Our Project

(1) 虚拟币大户或职业玩家，帮助他们阶梯下单，自动止损/止赢，节省操作时间，获利更多；
We target holders of large quantities of virtual coins, or professional traders. We help them automate the process of issuing orders, and limit losses and wins. We help them save time and generate more profit.

(2) 兼职炒币者，他们没有太多时间，机器人交易使得他们不会错过交易时机；
We also target part-time virtual coin traders. Such users cannot monitor the market around the clock. Our trading software allows them to take advantage of all the trading opportunities.

(3) 小算力矿工，他们在矿机的军备竞赛中失败，本软件可以给他们一个类似于挖矿的挣钱机会，而且成本更低；
We further target virtual coin miners with limited computing power. They face increasing difficulties in the mining business, and can use our software to generate additional income to complement their mining income, all the while incurring much lower cost.

(4) 套利者，他们只能手工套利，速度慢且有风险，本软件在多个交易所中快速下单，使得套利没有风险。
Finally we target the arbitragers, who mostly have to execute multiple orders at different exchanges to make a profit. Our software eliminates the risk of price movement by identifying arbitrage opportunities and executing orders at a much faster speed.

3.4赢利模式
Business Model

(1) 销售软件，软件中包括了部分交易策略；
We plan to sell our software, which includes a number of built-in trading strategies.

(2) 销售特殊交易策略，特殊策略是指特制且限量销售的交易策略；
We further plan to sell advanced trading strategies individually, which are purposely built and we limit the number of licenses we sell on each of these advanced strategies.

(3) 与其他开发者合作，在网站上销售其他开发者的交易策略，收取佣金；
We will enable 3rd parties to develop additional strategies for our software, and sell these strategies on their behalf, earning a commission on each sale.

(4) 以独立交易服务器(VPS+CoinzBot)方式向用户提供整套的算法交易技术服务，用户仅需登录指定IP设定策略即可，无需安装和部署；
We will consider offering the service of self-contained “Trading Servers” to our users, which bundles a hosted virtual private server (VPS) and our CoinzBot software. This would be a turn-key solution for our users, who will be able to start trading immediately and not having to worry about installing and configuring software, etc.

(5) 自动交易，这仅作为软件测试的手段，并非主要赢利手段。
Finally we will run our own software to trade for our own account. This will not be a significant way for us to generate profit, but it is important for us to constantly use our own software for testing and quality assurance purpose on an end-to-end basis.

3.4项目人员
Project Team Members

(1) Philsong ：首席程序员(Btcrobot开源软件开发者)；11年C/C++开发经验，6年团队管理经验，2年GO语言开发经验。
Bitcointalk帐户: https://bitcointalk.org/index.php?action=profile;u=337473
Philsong: Lead Programmer (founding developer of the Btcrobot)，11 years C/C++ development experiences, six years team management experiences, 2 years GO development experiences.
Bitcointalk account: https://bitcointalk.org/index.php?action=profile;u=337473

(2) Eric：项目运营、算法研究；13年C/C++开发经验和团队管理经验，目前在深圳大学读博士，研究方向是计算机网络和信息安全，论文主题是：加密货币的混币与反混币研究。
Bitcointalk帐户: https://bitcointalk.org/index.php?action=profile;u=144945
Eric: Project Operation and Algorithm Research, he has 13 years C/C++ development and management experiences, now he is a doctoral student of Shenzhen University from China, majoring in Computer network and information security. His thesis for the Doctorate is Research on coin-mixing and un-coin-mixing of Crypto-currency.
Bitcointalk account: https://bitcointalk.org/index.php?action=profile;u=144945

(3) Steve ：营销顾问；Steve 是在硅谷的资深技术高管，曾在 Cisco，Amazon.com 等五百强企业担任技术副总的职务，负责重要部门的技术和产品。还曾经就职于 Sun Micro, Oracle Inc. 等硅谷的高科技公司。
Steve: Sales and Marketing Consultant，Steve has been a veteran technologist iin the Silicon Valley, he has held senior executive positions with Fortune 500 companies such as Cisco and Amazon.com, responsible for technology and products in major divisions. He had also held technical positions with other hi-tech companies such as Sun Micro and Oracle, Inc.

(4) 其他成员：1个技术支持、1个C/C++程序员；
Other Members: 1 technical support person, 1 programmer in C/C++ language

(5) 计划招聘：8-10个GO/C/C++程序员。
Additional Hires: 8-10 programmers in GO/C/C++ languages.

3.5运营计划
Operations Plan

(1) 8-9月推出商业版，启动营销计划；
We plan to launch our commercial version around the August/September time frame in 2014. We will also launch our sales and marketing operation at the same time.

(2)10-11月股份可在股票交易所自由买卖(由董事会和股东投票决定是否上交易所)；
We plan to make our shares tradable on virtual exchanges in the October/November time frame, subject to board and share holder approval.

(3) 9-12月推出一些特殊交易策略模块。
We plan to introduce the first batch of advanced trading strategy modules between September and December.

四、IPO计划
This IPO Plan

4.1发行股本
Shares Issuing Plan

(1) 本项目总股本2000股，公司持有1200股，占60%；IPO拟发行800股，占40%；
We have created 2,000 shares for this CoinzBot project. Existing project founders will be issued 1,200 shares (or 60%). We plan to make 800 shares available in the upcoming IPO.

(2) 800股，发行价格1B/股，筹集800B；
We plan an IPO price of 1 BTC per share, raising 800 BTC in funding for the project.

(3) 1-200股的股东将获得15%的返款，201-400股将获得10%的返款，401-600将获得5%的返款。即60B作为IPO营销费用，实际获得740B；
The purchasers of the first 200 shares will get a 15% rebate of their purchase price. The purchasers of the 201st and 400th shares will get a 10% rebate. The purchases of the 401th and 600th shares will get 5% rebate. This constitutes 60 BTC in the IPO sales cost. The project will receive a net proceed of 740 BTC at the end of the IPO process.

(4) 股本保值，我们把筹集资金的80%以比特币保存，另外20%以美金保存，需要资金时把比特币换成人民币、或把美金换成人民币。
We plan to keep 80% of the IPO proceeds in BTC, and the other 20% in fiat currencies as working capital. As the project proceeds, we will exchange the BTC funds into fit currencies on an as-needed basis.

4.2董事会
Board
    本项目设立董事会，负责本项目的重要决策。
We plan to operate this project using customary practices of operating a corporation. We plan to have a board to represent the interest of the share holders and make major decisions for the project.

(1) 公司股本占60%，占3个董事会席位，由IPO发起人出任；
The board shall have 5 seats, 3 of them will be designated by the founding members of this project.

(2) IPO股本占40%，占2个董事会席位；产生规则：在IPO中投资多于1%的两名股东各指定一名董事(可以是他们自己)；如果还有剩余席位，则其余股东中股份最多的前5名各推荐一名董事候选人，再由股东选举出董事；
The shares sold through the IPO are called “floating shares”. Owners of the floating shares are entitled to appoint 2 members to the board using the following process: The two largest holders of floating shares can each appoint a board member (possibly the holders themselves) provided that such holders’ shares exceed 1% of total outstanding shares. If there are remaining board seat, the top 5 remaining floating shares owners can each appoint a board member candidate, and a vote of the floating share holders will determine the board members.

(3) 董事会按照超过50%的多数投票原则决策，如果2位IPO董事皆不同意，则公司董事有向IPO董事解释清楚运作的义务。
In general the board makes decisions by simple majority. If any decisions are made against the votes of the 2 board members appointed by the floating share owners, the board is to provide a good-faith explanation on the issues.

(4) 董事会议：董事会通过董事会议作决策，董事会成员可通过电话或实时聊天服务参加会议，保证每位董事成员都理解所讨论的内容，并且有效投票；董事会应保存每次会议的纪录，根据要求提供给占1％股份以上的股东的检查。
   Board Meeting. The board makes decision through board meetings, each of which is to be attended by board members. Board members can attend such meetings remotely through telephone or instant messaging services, provided that each board members is able to clearly hear (or otherwise understand) the issues being discussed, and be able to effectively cast votes on decisions. The board shall keep minutes of each meeting and make it available for inspection for all share holders of 1% of more shares, upon request.

4.3股东收益和权利
Shareholder Rights

(1) 选举权和被选举权，股东可选举新董事，也可被提名作为董事候选人；
A share holder can elect board members, and can also be elected as board members.

(2) 分红权，按照股份比例享受分红。商业版销售之后每月分红，净利20%留作运营资金，80%按照股份比例分红；
A share holder is entitled to dividend payout proportional to the shares. When the project starts to generate profits, we plan to declare a dividend every month. 20% of net profit will be kept by the project as working capital, the other 80% will be declared as dividend.

(3) 特殊策略优先购买权，特殊策略将限量销售，股东可优先购买特殊策略；
A share holder has priority in purchasing our software, especially advanced trading strategy modules, whenever there is a license quantity limit and/or waiting list.

(4) 购买优惠权，购买软件和特殊策略有7-8折优惠；
A share holder also enjoys a 20% to 30% discount on the purchase prices of our software modules.

(5) 知情权，每月获得项目收支报表；
A share holder is entitled to review the monthly financial statements of the project.

4.4董事权利和义务
Board Members Rights and Responsibilities

董事权利
Board Members Rights

(1) 董事享有股东的一切权利；
Board members have all rights of shareholders.

(2) 每季度以网络视频形式开一次董事会议，直接参与本项目的产品方向、营销模式决策；
Board members are to attend a board meeting once every quarter, possibly through a video/web/im conferencing arrangement. We make important decisions for the project in these meetings.

(3) 定期或不定期参与某些必要的临时决策过程；
Board members are to attend special board meetings when called upon, to make certain necessary and urgent decisions for the project.

(4) 购买软件和特殊策略有6-7折优惠；
Board members enjoy 30% to 40% discount when purchasing our software modules.

(5) 优先测试新交易策略
Board members enjoy priority for trial uses of our new trading strategies.

董事义务
Board Member Responsibilities

(1) 每季度按时参加董事会例会；
Attend regular board meeting on a quarterly basis.

(2) 未经董事会授权，不得擅自透露任何决策细节；
Keep project information in strict confidence, unless specifically authorized by the board to communicate certain limited information to outside parties.

(3) 不得利用以董事身份获得的信息来炒作本项目股票或股权；
Not to trade the floating shares or any derivative rights of this project based on inside information gained from board meetings.

(4) 违反以上义务的董事，将被取消董事资格，产生的空缺由股东另行选举；
Violation of rules above will result in the termination of board membership, as decided by a majority of board members. Vacated seats will be filled through special elections.

(5) 董事需收集来自大多数股东的意见，并且把它们汇总带到董事会。
Board members are to stay current with the desires and thinking of the share holders, and help represent their interest at board meetings.

4.5退出方式
Exit Methods

(1) 股份上交易所之前：IPO股份可自由买卖，但必须备案；
Floating shares can be traded freely post IPO, provided that such trading is properly recorded with the project.

(2) 股份上交易所之后：IPO股份可在交易所自由交易；
After we make our shares available on exchanges, the shares can be traded freely.

(3) 公司60%股份自IPO之日起，锁定一年，不以任何形式卖出。
The project founders’ 60% shares are to be locked up for 12 months after the IPO date. No sales of such shares shall take place during the lock-up period.

4.6信息披露、财务和分红
Information Disclosure on Finances and Dividends

(1) 本项目每月初向股东发送邮件，公开上个月的项目进展、资金、资产情况；
The project will send out a newsletter to all registered share holders at the beginning of every month, with information on project progress over the past month, and project balance sheet and income statement.

(2) 在紧急或重要情况下，本项目会向股东发送邮件，向股东披露重要信息或要求参加选举等；
In special situations, the project may contact all share holders for special information disclosure, and/or call for special elections.

(3) 分红：净利(收入-成本)20%留作运营资金，80%按照股份比例分红，每月初向股东发放。
The project will declare 80% of operating profit (if any，defined as revenue minus cost) as dividend at the beginning of every month, and issue to all share holders.

4.7股东可能面临的风险
Share Holder Risks

(1)项目组和IPO发起人不按承诺完成工作或恶意违约。Philsong做的开源软件Btcrobot，维护到现在，在开源社区有良好声誉。Eric以前运营过比特币套利基金(BAF)，在出现亏损时，以IPO原价全部回购，避免股东损失。因而我们有理由相信IPO发起人信誉良好；
The project team members and IPO organizers may fail to fulfill their obligations. The project lead programmer “Btcrobot” enjoys a great reputation in the open source community and has long carried this project up to this date. The other team member Eric was the organizer of the Bitcoin Arbitrage Fund (BAF) with well kept records on bitcointalk.org. The BAF project incurred losses at the end, but Eric made sure every share holder was properly compensated according to the established rules and have not received a single complaint. We believe the project team carries excellent reputation.

(2) 软件无法销售出去，很少或者没有分红。目标客户群对此类软件的需求强烈，销售不出去的可能性不大，但是仍有可能；
Additional risk exists with the possibility that we will not be able to sell the software in enough qualities, or at all. So far we have seen great demand for such software and believe this to be a low risk, which nevertheless exists.

(3) 其他潜在风险。
Other unforeseen risks.

4.8终结和清算
Project Termination and Liquidation

遇到以下情况，本项目将终结
We plan to terminate this project in the following scenarios.

(1) 连续两年亏损；
We incur losses for two consecutive years.
(2) 不可抗力，让本项目无法继续执行。
Unforeseen factors causing our project not to be able to continue.

终结清算，IPO股票每股剩余价值计算方法：
Upon project termination, we use the following formula to calculate the value of each outstanding share.

(1) 当项目利润(=项目收入-项目成本)为正，IPO每股剩余价值=(筹集资金+(项目利润-已分红资金)*40%) /IPO股数；
If we have net profit of the project (defined as revenue minus cost) for the life of the project, every one of the floating shares is to be worth:
(IPO proceeds + (sales profit- dividend)* 40%) / floating shares

(2) 当项目利润为负，IPO每股剩余价值=(筹集资金+项目利润-已分红资金)/IPO股数。
If the net sales profit above is negative, every one of the floating shares is to be worth:
(IPO proceeds + profit - dividend) / floating shares

然后把每股剩余价值按照IPO股数，分发给每个IPO股东，回购所有股票。
The project will repurchase each floating share at a price calculated above.

场景演示：
Demonstration Scheme:

本项目组筹集800B，IPO股数800股，项目中止后分以下两种不同情况计算IPO股东每股剩余价值。
We issues 800 BTC and 800 shares are raised in funding for the project. One day, the project has to be terminated. We calculate the value of every floating shares depended on two different situations.

(1)销售收入1300B，已分红640B，项目成本500B
Revenue 1300B, dividend 640B, cost 500B

IPO每股剩余价值=(800+(800-640)*40%)/800=864/800=1.08B
因而清算时，每股本可得到1.08B
The value of every floating share:
=(800+(800-640)*40%)/800=864/800=1.08B
So, every floating share will receive 1.08B.

IPO股东累计收益=1.08+640*0.4/800=1.48B
Shareholders’ total income = 1.08+640*0.4/800=1.48B

项目组累计分红=640*0.6=384B
Project founders will get 384B.

(2)销售收入500B，未分红，项目成本600B
Revenue 500B, dividend 0B, cost 600B

IPO每股剩余价值=(800-100)/800=700/800=0.875B
The value of every floating shares= (800-100)/800=700/800=0.875B

IPO股东累计收益=0.875B
Shareholders’ total income = 0.875B

项目组累计分红=0B
Project founders will get 0B.

从上述结果可知，项目组在赢利和亏损时中止项目，都得不到多少分红，只有把项目做好，才能从股份中得到最大回报，这就是项目组与IPO股东的共同利益所在。
It is obviously that the project team can’t make money unless they operate the project better and will be rewarded a lot from shares, that is the common interest of IPO shareholders’.

4.9再次IPO的可能性
Possible Secondary Offering

当同时满足以下几个条件时，我们有可能再次IPO
The project may conduct a secondary offering to issue additional shares, when the following conditions are met.

(1) 本项目产生了一些销售额；
The project is seeing some sales volume.

(2) 本项目有新的重要开发方向；
The project is seeing additional new direction of development.

(3) 董事会批准再次IPO计划。
The board has approved such secondary offering plan.

我们承诺：
The project team commits to the following:

(1) 再次IPO最早将发生在本次IPO半年后；
The secondary offering will not take place within 6 month of the IPO.

(2) 保护本次IPO股东的利益；
We make every effort to protect the interest of the floating share holders.

Btcrobot & CoinzBot 项目组
Btcrobot & CoinzBot Project Team
2014/5/30