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ICO Alert Quick Facts
- Exchange and portfolio management platform rewarding users for information sharing
- 1 Ether = 2,500 LION (not including bonuses)
- ICO: December 18, 2017 — February 25, 2017
- 250,000,000 total available / 500,000,000 total supply
- Presale now active with a 40% token bonus
What is CoinLion?
CoinLion is a digital asset trading and portfolio management platform. The goal is to give investors a simple, yet powerful solution to managing digital assets.
Currently there are over 1,500 digital currencies making up over $300 billion. These assets are spread across hundreds of wallets and exchanges. This fragmented management and trading environment is in sharp contrast to that of the modern financial world, and often presents a barrier for entry for a large percentage of the population.
CoinLion is dedicated to bringing leadership, stability, and simplicity to digital asset investing through a single, trusted interface. Through our compliant, user-friendly trading and portfolio management platform, CoinLion enables users to manage and trade digital assets with confidence. CoinLion users join a community of cryptocurrency experts, which empowers and incentivizes its members to create and share portfolios, offer trade strategies, and share research they need to make highly-informed decisions.
— Joshua Dewitt, CEO and Co-founder
Q&A with Joshua Dewitt, CEO and Co-founder of CoinLion
ICO Alert: How does the CoinLion token function within the platform and why is it needed?
CoinLion: LION is the token that interacts within the CoinLion Platform. LION is designed to create an ecosystem within the platform that empowers users.
LION has multiple uses within the platform and allows any user to spend and earn LION in a variety of ways. This includes earning LION from the CoinLion Platform itself. LION can be earned by (i) creating and sharing portfolios, research, and strategies with other users, (ii) submitting research CoinLion publishes within the platform, (iii) becoming a top performer within the CoinLion Platform, and (iv) allowing advertisers to access your public profile and more.
LION can be spent/held to (i) follow and duplicate users’ portfolios (ii) create and publish multiple portfolios and access advanced features within the portfolio management tool (iii) access premium features within a world class research and analytics library (iv) promote your portfolios on CoinLion’s featured portfolio list (v) trade for free within the LION market, and (vi) discounts on trading costs as well as ICOs featured and or launched on the platform.
ICO Alert: There are several other blockchain-based cryptocurrency trading platforms that have been created already. What sets CoinLion apart from its competitors?
CoinLion: CoinLion will be the first exchange to support controlled, disciplined investment processes. CoinLion boasts a powerful set of trading and management tools, including a one-of-a-kind portfolio management tool that allows users to buy and sell multiple assets at once. This tool makes managing digital assets portfolios easy and efficient. We invite you to check out the DEMO to learn more about how this tool works. The portfolio management tool also allows users to publish portfolios and earn LION for sharing their portfolios with others.
CoinLion empowers investors of digital currencies to exchange and trade under one portfolio management platform while providing market research and analytics to enable the execution of smart, efficient trading strategies.
In addition to the powerful toolsets provided, CoinLion will be the first exchange to give users the option to control their private keys. This will let users unlock their CoinLion dashboard with their private key from one of their Bitcoin or Ethereum wallets.
CoinLion also works tirelessly to implement the latest technology stacks. We are currently working on implementing atomic swap capabilities using the Raiden and Lightning Networks. CoinLion is committed to integrating new technologies to create the most powerful trading platform yet.
ICO Alert: In your whitepaper, you point out that the volume and number of cryptocurrencies has grown exponentially in 2017 alone. How will CoinLion ensure the scalability and reliability of its trading platform to keep up with the diversity and size of the overall cryptocurrency market, including the trades within it?
CoinLion: Yes! It is incredible how fast the space has grown. Right now, CoinLion has a solid revenue model and a near working platform. CoinLion has allocated significant resources to ongoing research and development specifically focused on implementing technologies that are designed to allow for both horizontal and vertical scaling.
CoinLion will list a wide variety of digital currencies and has plans to be able to support most Ethereum tokens. In addition, CoinLion will underwrite new ICOs to the platform ensuring a steady supply of new tokens being added. We only see the space continuing to grow. When there are thousands of digital assets to choose from, you need a place to manage them efficiently and CoinLion’s toolsets allow you to do just that.
ICO Alert: To what extent, if at all, has CoinLion consulted with the SEC and other regulatory bodies to ensure that its platform remains compliant through a rapidly-changing legal landscape?
CoinLion: CoinLion is committed to complying with regulation and welcomes reasonable regulation in the space. Our number one goal is to protect users and their funds.
We have a strong grasp of the legal environment and have had our legal position analyzed by multiple attorneys representing a number of firms. We maintain in-house legal counsel at all times. In addition, we have several high-profile attorneys, judges, and members of legislature as part of our extended team. We will be working with regulators going forward to ensure compliance on all fronts. We have met with our local regulators and are in communication through each phase, from development to implementation. We are happy to be located in a very pro-business state!
ICO Alert: What other Anti-Money Laundering (AML) controls do you have in place in addition to your KYC controls? In other words, does CoinLion satisfy all AML requirements that are typically required of a financial trading platform?
CoinLion: Yes. CoinLion uses KYC processes and complies with AML (Anti Money Laundering) laws. CoinLion provides quick and easy identity authentication services with a same-day identity verification policy. We must know our customers by and may gather information to verify their identity. Visit CoinLion’s Privacy Policy here to get a full picture of CoinLion’s KYC/AML processes.
ICO Alert: Congratulations on reaching your token sale milestone in your roadmap! In August 2017, you began to develop your website and user interface design. Did that result in an Alpha version of your trading platform? If so, how did that go?
CoinLion: Thank you! We are excited as the presale just went live! The platform development has been in process since August. We have added a number of talented developers in the recently and are making rapid progress!
ICO Alert: What motivated the founders to create this potentially disruptive platform after working in the financial, trading, and investment sectors for so long?
CoinLion: As asset managers, we were used to having access to tools that allow for the implementation and monitoring of controlled investment processes. We were also managing various crypto portfolios and found it challenging to manage these assets with the same efficiency we were used to in the financial sector.
Managing multiple funds across various exchanges and wallets is messy and overly complicated. The goal is to really take some of the best tools we used in the traditional markets and provide them to digital asset investors and managers in a simple and powerful platform. We really wanted to find a way to simplify a complicated space and CoinLion does a great job of that.
ICO Alert: How far along is the project today and when can contributors expect to use the platform? What does the roadmap look like for the rest of 2017 and 2018?
CoinLion: CoinLion is being developed as we speak. The demo is now up and we will have live data coming in soon. We plan to launch the platform in various stages. The first phase of the token sale ends January 7 and we plan to have something special to reveal shortly after that date. We expect to be fully operational during Q3 of 2018.
ICO Alert: As a non-CoinLion question, we like to ask for unique predictions for the ICO and cryptocurrency space in the future. Where do you see both in the next 3–5 years?
Joshua Dewitt: Our investment philosophy revolves around efficient, controlled, disciplined portfolio management and construction. We consider ourselves long-term investors. We have seen incredible growth in the last year and this is the reason we believe proper portfolio construction will be critical for investors going forward. As more digital assets enter the marketplace, it will be important to understand what you are owning and how it fits into your overall portfolio. That being said, we think we will continue to see steady increases in the overall market over the next 3–5 years and beyond. Pending any debilitating regulation, ICOs will continue to increase in volume throughout 2018 and 2019. It is an incredibly powerful funding mechanism and makes a lot of sense for many companies — we won’t see ICOs going away anytime soon. Overall, we see the cryptocurrency market expanding into the trillions of dollars in the next five years and continuing to take market share from traditional assets and fiat currency.
Pre-ICO Information
The pre-ICO is now live on the CoinLion website, offering a 40% bonus for pre-ICO contributors with a 10% additional bonus for contributions over 5 ETH.For every 1 Ether contributed, participants will receive 3,500 LION tokens. There is a minimum contribution amount of 0.1 Ether and a pre-ICO hard cap of 25,000,000 LION tokens.
ICO Information
The main ICO will begin on December 18, 2017 and will end on February 25, 2017. There are two phases offering various bonuses across each phase. There are a total of 250,000,000 CoinLion tokens (LION) available during the main ICO, representing 50% of the total LION supply. A hard cap of 250,000,000 LION tokens is set for this period and there is a soft cap of 2,000 Ether.
1 Ether = 2,500 LION (not including bonuses)
CoinLion is an ERC-20 token, so it’s important that contributors use ERC-20 compatible wallets to send funds to the ICO smart contract address, and to receive the CoinLion tokens. The address will be provided on the CoinLion website. Ether is the only accepted form of contribution and any unsold tokens will be burned.
Token Distribution Information
There are a total 500,000,000 LION tokens being created, with 250,000,000 available during main ICO. Contributors will receive their tokens immediately after the transaction is confirmed. Visit the CoinLion website for more information and the contribution address.
All funds received from the ICO will be used for the development and operations of the CoinLion Platform:
65% Development
This includes the development of the CoinLion Platform and the recruitment of additional world class talent. A percentage of development funds will also be used to market and facilitate the ongoing operating costs such as servers and infrastructure.
15% Security
This includes auditing and compliance. CoinLion works tirelessly to ensure the security of all users’ holdings. CoinLion uses multiple security protocols to achieve the highest level of security for users. A portion of security funds will also be used to insure users funds against cyber-attacks.
15% Legal
Legal compliance is critical to CoinLion’s long-term success and stability. CoinLion currently has in house legal counsel. In addition, CoinLion will utilize outside legal resources to ensure the ongoing compliance. CoinLion will look to fully comply with all regulation.
5% Customer Service
CoinLion looks to be the most trusted digital asset trading platform, and understands customer service is fundamental in creating trust with users. CoinLion is adding to its customer service team, and will facilitate users inquiries via multiple channels, including dedicated phone support.
The purpose of the LION token allocation and use of funds is to support the long-term sustainability of the CoinLion Platform. A minimum of 10% of the total supply of LION will remain in reserve. This 10% serves as a buffer to ensure the stability of LION.
The excess reserve, not subject to lockup, will be used to facilitate the growth platform and of the research and analytics library, as well as to reward users.
LION held by the team is subject to the following lockout periods before tokens can be sold:
6 months: 100%
1 year: 75%
1.5 years: 50%
2 years: 0%
LION held by CoinLion, LLC is subject to the following lockout periods:
1 year: 100%
2 years: 75%
3 years: 50%
4 years: 25%
5 years: 0%
LION held for ongoing development will be used at the discretion of CoinLion to fund continual research and advancements beyond the token sale, and is subject to a 1-year 100% lockup. The funds allocated for ongoing development are used for the implementation of new and emerging technologies to improve the performance of the platform. This includes technologies that allow for atomic swaps and aggregation of liquidity from existing exchanges.
The contract mints tokens as they are purchased, so there will be no unsold tokens.
Team
Joshua is the CEO and Co-founder of CoinLion. He has a master’s degree in security analysis portfolio management from Creighton University. He has worked on a team managing over $300 million at Merrill Lynch. He has eight years of experience in the finance industry with a history of trading various instruments including debt, equities, derivatives, FX, and more. His expertise is in portfolio construction and analysis.
Caleb is the COO and Co-founder of CoinLion. Caleb’s role is to ensure operational compliance within the CoinLion platform. He has an MBA and JD. He has seven years of experience working on corporate structuring, security analysis, and governmental affairs. Caleb is the founder of Veldhouse Companies, a multi-million dollar holdings company. He’s an advisor on 9-figure corporate refinance projects and has structured, advised, and secured financing on multiple 8-figure corporate transactions.
Justus is the CTO and Co-founder of CoinLion. He has 25 years of experience in software development and eight years of experience in various leadership roles. He is experienced in designing, building, deploying, and maintaining scalable applications for several Fortune 500 companies, including Warner Music Group, LodgeNet, Citigroup, and HSBC. Justus has built and maintained financial applications for managing over $1 million in daily transactions.
Zach is the CMO for CoinLion and has three years of experience as a CEO and owner, developing a high energy multimillion-dollar retail company with over 100 employees. He has created triple digit revenue growth and physical footprint of a multi-million dollar outdoor digital media company. Zach has four years of experience as a developer and founder, operating a large scale real-estate holding company that develops and manages several properties ranging from commercial, residential, and multi-family.
Nathan is the CFO for CoinLion and has his master’s degree in professional accountancy and a bachelor’s degree in business administration. He has 12 years of experience as a CFO, overseeing all facets of growth for a multi-million dollar retail company with over 100 employees. He has orchestrated acquisition, transition, and the sale of multiple companies.
For a full list of team members, please visit the CoinLion website.
Source: ICO Alert
