Kryptoin is a patent pending exchange-traded fund (ETF) blockchain platform. It uses smart contracts and a decentralized structure to work and provide for an ETF that is backed by cryptocurrencies.
How Does Kryptoin Work?
This platform was created to be the first ETF in the market that could create new ETF tokens, these are tokens in desired proportions made with a creation unit, also known as the Kryptoin basket. Basically, you can choose a basket of tokens and then you can program the new ETF token to represent it and create your own index.
Let’s say that you want to invest in many tokens but you do not want to individually buy each one of them. By buying the ETF tokens of this company, you will finally be able to buy a single crypto that can basically have the same effect on your portfolio that it would have if you decided to acquire many of them.
The baskets will be made by smart contracts that will create a decentralized asset in which you can invest if you want. These assets will be under decentralized management, which will be made via smart contracts. Because of the decentralization, most of the tokens will have small commissions and fees.
Some of the most important features of this company its index compositor, a creation unit compositor and the ability to create and also to be able to redeem functions.
The index compositor is used to create index funds that work like passive investments for the users and allow the user to be able to slice the market in the way that it wants to get the shares of the market that end up being more interesting for the user.
The creation unit compositor, which Kryptoin refers as the “secret sauce” behind all the ETFs, can create units that can be assembled by the investor and quoted through the system whenever you need to exchange it.
The Kryptoin tokens are 100% backed by the real currencies on the basket that is created by using these tools that we have just told you about. The tokens are also completely transparent and are subject to periodic professional audits made by third party companies. The idea is that the ETF system has to always match the reserves.
The company also states that Kryptoin is completely secure and that the tokens will have a high liquidity so you will always be able to trade them without having to depend on the volume of transactions in a certain day.
Finally, the company still has an API that can be used for third party companies that are interested in ETFs and want to be a part of the project.
The Kryptoin Token Sale
- The company is currently having its sale right now
- It intends to raise 2,333 ETH in the first phase of the sale, Tokens have a discount of 30%
- The final price, which will be the price of the last round, will be 2,917 tokens for 1 ETH, which will have no discount at all.
- The dates of the sale are still not announced
- You will have to pass a Know Your Customer procedure to participate
- Tokens will be based on the ERC20 standard and you will have to use them to create your own ETF coins.
The Kyptoin Team
The team that decided to create this company is composed by Donnie Kim (CEO), John Tracey (CFO), Eojin Lim (managing director), Surendra Kumar (Chief System Engineer), Vineet Tyagi (Chief Blockchain Engineer), Shubham Dogra (UI/UX Developer), Jim Hong (Analyst and Advisor), Anthony Licausi (Investment Banker) and Jason Toussaint (ETF's Advisor).
The Kryptoin Conclusion
If you are interested in ETFs, then Kryptoin has certainly called your attention, right? The idea of the company is very good, as the cryptocurrency market still has a lot that should be explored and many companies are making this market more similar to the mainstream financial market while looking for profits. Kryptoin seems to us like a very interesting alternative for investors.