Serenity Financial claims to be the first arbitration platform for traders and brokers. Find out more about how the platform works today in our review.
What Is Serenity Financial?
Serenity Financial is an arbitration platform catered to forex traders and brokers. Specifically, the platform promises to unite brokers of any jurisdiction and traders from around the world. Using a depository system and blockchain technology, Serenity Financial guarantees fair trades and withdrawals.
The overall goal of Serenity Financial is to create a secure, transparent, and standardized trading environment that takes full advantage of blockchain technology.
Traders can access the platform and complete Serenity’s KYC verification process. Then, they can begin trading with any broker in the Serenity Financial network without undergoing individual verification processes.
All transactions on the platform take place using SI tokens. The Serenity Financial pre-ICO starts on November 15, with a general ICO taking place from November 24 to December 18.
How Does Serenity Financial Work?
Serenity Financial aims to unite brokers and traders from around the world over an arbitration system and digital currency. That system uses blockchain technology to guarantee the fairness of trades and withdrawals. Some of the key features of the platform include:
All Trades Are Fully Controlled: Serenity Financial is based on blockchain technology that allows users to create a unified, standardized system for controlling and recording trading and non-trading transactions while preventing forgery.
Segregated Accounts: Client’s funds are stored in the Serenity Financial depository. Funds are guaranteed to be secure, and this prevents brokers from misusing funds.
Independent Arbitration Board: The Serenity Financial independent arbitration board settles disputes based on any data recorded on the blockchain.
Guaranteed Profit Withdrawals: Serenity guarantees the withdrawal of profit because it uses its own liquidity pool.
Only One Verification Process Required: Serenity Financial has its own KYC system. Traders can undergo that KYC verification, then immediately start trading with any broker connected to the system. There’s no need to go through multiple KYC procedures.
Liquidity: Brokers are provided with liquidity, a bridge, and technology.
Ultimately, Serenity Financial has already added a number of brokers to its service, including B2 Broker, Carrax, Faster Broker, UpTrader, Grand Capital, XO Option, Larson&Holz, and more.
How To Use Serenity Financial
Here’s a step by step breakdown of how a trader might use Serenity Financial:
- The client buys Serenity tokens
- The client chooses a broker and opens a trading account
- The client transfers tokens to the broker
- The funds are reserved on a smart contract
- The client starts trading
- The client submits a withdrawal request to Serenity after his or her trading activity has generated a profit
- The broker approves the withdrawal
- The client withdraws the funds into the currency of their choice
Serenity Financial Benefits
Serenity Financial aims to offer powerful benefits to traders and brokers. Here are all of the benefits you can expect to enjoy:
- Safety and security of your funds
- Avoid the unlawful actions of brokers
- Transparency for trading transactions
- Fast deposits and withdrawals of funds
- Trades are recorded in the blockchain, eliminating the possibility of backdating transactions
- Deposits and withdrawals are standardized and are carried out through the platform using Serenity tokens
- Users can easily switch brokers
- Changing a broker is extremely easy because all brokers use the same Serenity token
- An independent arbitration procedure to protect you when disputes occur
- Only one KYC verification procedure is required to begin trading with all brokers in the platform
- Brokers can display a sign of trust to prospective traders by displaying the Serenity Financial logo on their website, and ensuring customers know that all transactions are handled by Serenity
- Reduced transaction costs
- Better accountability
- Promotional support (the Serenity budget includes money for marketing and PR)
- Attract new investors because all traders are under control and all funds are secured
Who’s Behind Serenity Financial?
Serenity Financial is led by Stanislav Vaneev (Founder). Vaneev is the CEO and Founder of Grand Capital, an international financial services company. Other key members of the team include Anton Vasin (Co-Founder), Vasily Alexeev (CTO), and Denis Kulagin (Head of International Development).
In terms of a timeline, the final version of Serenity is expected to launch between September 2018 and February 2019. Between January 2018 and August 2018, they hope to launch the wallet, carry out at least 100 client transactions, and connect their system to at least 3 brokers.
The Serenity Financial ICO
Serenity Financial has scheduled a pre-ICO for November 15 to November 20. During the pre-ICO, investors can get a 50% discount. A total of 150,000 tokens are available during the pre-ICO.
The general ICO is scheduled to take place from November 24 to December 18, during which investors can access discounts of 10% to 40%. A total of 3.35 million tokens will be available during the ICO.
After December 25, tokens will be freely tradeable on any exchange. A token buyback program is scheduled to begin in 2019.
The Serenity Financial token uses the SI abbreviation. It has a base value of 0.1 ETH per SI token. A total supply of 3.5 million tokens will be made. 85% of tokens are sold in the pre-ICO and ICO, while 12% of tokens are reserved for participants and 3% for the bounty program.
The token sale is open to citizens of all countries except Singapore and the United States.
Serenity Financial has set several funding targets through the ICO. If the company raises less than $2 million USD, then money will be returned to investors and the ICO will be considered unsuccessful. If the company reaches $2 million USD, they’ll create a wallet, a settlement system, and an arbitration system.
At $5 million, the company will implement a KYC system. At $10 million, they’ll develop a bridge for trading platforms integrated with the Serenity payment solution. They’ll also connect external suppliers of liquidity and obtain the necessary broker licenses for working with prime brokers.
At $14 million, the company will develop its own blockchain, develop its integrated trading platforms on that blockchain, and create server and client-side plugins for MetaTrader.
Serenity Financial Conclusion
Serenity Financial aims to provide a trusted service between forex brokers and traders. Today, clients struggle to trust brokers with their money. Some brokers will shut down. Others make it difficult to withdraw funds. And some use customers’ funds in non-transparent ways.
Serenity Financial aims to solve these problems using blockchain technology. With Serenity Financial, all transactions are recorded on the blockchain for maximum transparency. Transactions are carried out in SI tokens, and Serenity Financial has an arbitration mechanism in place for resolving any disputes.
To learn more about Serenity Financial and their upcoming token sale, visit online today at Serenity-Financial.io.