Spectre – Speculative Tokenised Financial Trading Exchange ICO?
Spectre, found online at Spectre.ai, aims to be the world’s first broker-less financial trading platform. Find out how it works today in our review.
What is Spectre?
Spectre aims to be “the future of digital options” by creating the world’s first financial trading platform that doesn’t require the use of brokers. The name “Spectre” is actually an acronym that stands for Speculative Tokenized Trading Exchange.
The development team for Spectre describes it as “a financial prediction market platform backed by a tokenized liquidity pool.”
The platform is built on the Ethereum blockchain. They key feature is a decentralized and autonomous liquidity pool owned by token sale investors. If you purchase Spectre tokens during the token sale, then your money goes into this liquidity pool. This takes the broker out of the equation “resulting in a revolutionary change in the trading world and a new level of transparency,” explains the official website.
The goal of Spectre is to disrupt today’s forex trading and digital options trading industries. Today, these industries are flooded with fraud and conflicts of interest.
How Does Spectre Work?
With Spectre, all trades are governed by smart contracts on the Ethereum blockchain. That means the broker is completely removed from the equation. This leads to a fully transparent and fair trading environment with no conflicts of interest between involved parties. It’s a provably fair battleground where traders can fairly trade against the market without intervention.
Spectre has a tokenized balance sheet model that allows traders to trade 24 hours a day, acting as counter party to all trades, where applicable.
There are two token classes on the platform, including a utility token and a dividend token. The pool pays out 2% dividends to dividend-token holders and 2% to the Spectre team as a technology fee each time the trader takes a trade.
The group uses 3% of revenues to purchase utility tokens on an ongoing basis, causing the price of utility tokens to continually appreciate. All transactions are governed by smart contracts, which means that the broker is completely removed from the equation. The end result is a trading environment with no need for a centralized broker.
What’s the difference between Spectre and other trading platforms out there – like MT4, MT5, Spot Option Techfinancials, etc.)? Spectre has a range of trader protection algorithms that help with emotion control, risk management, trade opportunity recognition, and the ability to track one’s stats – including strengths and weaknesses through time. Spectre, as the website explains, “learns the trader’s weaknesses over time and alerts them when they are about to make a silly mistake.”
Ultimately, you can access the Spectre trading platform online today through Spectre.ai. The demo is a live trading platform where you can interact with other Spectre traders after logging in. This demo version is the public alpha built on the Ethereum testnet.
What Problems Does Spectre Seek to Solve?
Spectre seeks to solve major problems in today’s forex and options trading brokers. These platforms are filled with notorious problems, including:
- Fraud and conflicts of interest are rampant across the industry
- Brokers have been known to manipulate prices and refuse withdrawals
- The industry has a 70 to 90% loss ratio, which means that 7 or 9 of 10 traders will lose money in the long run
Spectre aims to remove brokers from the equation entirely by building a trading system on the Ethereum blockchain.
Who’s Behind Spectre?
The team behind Spectre first formed in Q4 2016. An MVP for the platform was developed throughout 2017, with a private alpha launched in Q2 2017. That alpha went public by Q3 2017. Before the end of the year, Spectre aims to have a public beta integrated on a testnet.
Overall, the team has significant financial engineering experience across a range of asset classes, including a focus on foreign exchange, equities, and digital options. Key members of the team include Karan “Kay” Khemani (CEO), Zisis Skouloudis (COO), Elena Drakos (CFO), and Jai Sankar (CTO).
The Spectre Token Sale
The Spectre token pre-sale took place throughout early November, with a general ICO beginning on November 17.
You can purchase two tokens of tokens during the token sale, including SPEC-D and SPEC-U. Both are set at a rate of 1 ETH = 2,000 SPEC-D or 2,000 SPEC-U.
A total supply of 240 million Spectre tokens (a combination of SPEC-U and SPEC-D) will be created (this is the hard cap). The sale has a minimum cap of 5 million.
Here’s the difference between each token:
SPEC-D Tokens: These are dividend paying tokens with a normal dividend paid monthly, and a special dividend paid annually.
SPEC-U Tokens: SPEC-U tokens are in-platform utility tokens that offer 1 to 5% higher trade payouts. Token holders also have access to more trades, assets, and trade types. There’s also something called the Spectre Financial Education Academy SpecED, where token holders can learn more about trading. Finally, there are exotic trade types like smart option contracts (knock-in-knock-outs, barriers, ladders, and more) available to token holders.
Of the total supply of tokens, 50% is dedicated to the token sale. The remainder is split between an option pool and M&A reserve (2)%, management (15%), legal and advisory (10%), and bounties (5%).
Spectre’s pre-sale is scheduled for October 27 to November 5, with a public sale scheduled for November 17 to December 10, 2017.
Spectre aims to eliminate broker fraud in the digital options and forex trading industry. Today, these industries are rife with fraud and conflicts of interest. With that in mind, Spectre wants to create a “Speculative Tokenized Trading Exchange” built on the Ethereum blockchain. Instead of using a centralized broker to process all trades, Spectre uses the Ethereum blockchain. Transactions are completed with smart contracts.
To learn more about Spectre on their ongoing token sale, visit online today at Spectre.ai.