In this article we will analyse Cybertrust ICO. It is an interesting project with a great potential. We highly recommend you to analyse it.
Despite the explosive growth that Bitcoin and other cryptocurrencies have experienced over the last several years, banks, family offices, pension and sovereign wealth funds and other institutional clients have all sat on the sidelines. Their reticence stems from several key inherited disadvantages: no titled/auditable ownership; clearing and settlement risks are abnormal; no process of judicial recovery; risk of theft via cyber security breach.We have solved these four problems with a solution to bring institutional investor capital tocrypto markets via crypto asset securitisation. We offer a legitimate and simple way to acquire and manage such digital assets within existing legal, tax, compliance and IT frameworks. The extra benefits and properties of crypto asset-backed derivatives highlighted above allow them to be traded at a significant premium to the underlying crypto, and – based on comparable benchmarks – premiums can reach up to 100%. If we take the closest financial product to what we are offering (Grayscale’s Bitcoin Investment Trust) as a benchmark, shares in their fund as of early October were traded at a 85-95% premium to the price of Bitcoin.
Terms of the ITO
Pre-ITO Dates- 29 November 2017 to 3 December 2017
ITO Dates -5 December 2017 to 5 January 2018
Closed Round -30 October 2017 to 10 November 2017 with possible extension
Token Type ERC-20 standard-based Ethereum token supporting up to 8 decimal places
Token Ticker CABS -(‘Crypto Asset Backed Securitisation’ Token)
Total Token -Cap 600,000 tokens
Initial Allocation -Cap1 Tokens allocated x 150% (= maximum 900,000)
ITO Total Quantity -500,000 tokens (3-hour Soft Cap: 350,000)
Base Price 0.6 ETH -(≈0.024 BTC, 182 USD), equivalent to a ~2.4% securitisation premium
Accepted Currencies -Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCC/BCH), Ethereum Classic (ETC)
By arrangement: USD Tether (USDT), Swiss Francs (CHF) and Euros (EUR)
Reserve -All net funds2 exceeding- 35 million CHF equivalent
Token Buyback -Price 50 USD (in ETH equivalent) or 0.2 ETH, whichever is less3
Benchmark Grayscale- Bitcoin Investment Trust (BIT) shares, OTC securities quoted on theOTCQX exchange. Net asset value of 1 GBTC share = 0.0923 BTC. Grayscale BIT
Securitisation premium for 1 BTC in Aug – Oct 2017 had a range of 1,474 – 5,950 USD (0.26-1.1 BTC).
Token Use -1 CABS Token entitles the holder to securitise 1 BTC or equivalent quantities of selected other cryptocurrencies such as Ethereum or Bitcoin Cash, e.g.:
The right to convert one BTC into one BTC Global Crypto Note .Owners of CABS Tokens will have EXCLUSIVE RIGHT to convert their BTC into BTC GCN using our Platform. One CABS Token will be required in order to securitise 1 BTC.
The right to convert ETH and BCC/BCH into Global Crypto Notes at prices linked to BTC CABS Token holders will also have the right to convert ETH and BCC/BCH into the corresponding GCNs. The number of CABS Tokens required will be calculated pro-rata depending on the relevant exchange rate with BTC as quoted by Bitfinex. The precise reference exchange may be changed at a later time at the sole discretion of CyberTrust.For more information about cybertrust access the link whitepaper and Cybertrust .