Carboneum team is creating an open protocol and democratized platform for social trading on top of ICON blockchain. The project aims to develop a network in which amateur traders with little knowledge in cryptocurrency market can reduce the risks of losing their money by following and duplicating the transactions of successful traders.

Project’s ideas

Carboneum team is creating an open protocol and democratized platform for social trading on top of ICON blockchain. The project aims to develop a network in which amateur traders with little knowledge in cryptocurrency market can reduce the risks of losing their money by following and duplicating the transactions of successful traders.

Carboneum protocol will be used to build a DApp for social trading called CoinRadars. Meanwhile, CoinRadars will match followers and leaders as followers are able to choose leaders they want to follow based on their expected returns and risk preferences. Once followed, the protocol ensures that all transactions executed by the leaders are copied and executed automatically for the followers as well, allowing anyone to start trading for the first time and learn from experts. In addition, to safeguard the interests of traders, Safety Belt feature allows followers to set a stop-loss order point. When the price reaches a certain pre-set price, no further trades will be conducted. One of the differences of Carboneum from other projects is that Carboneum has its own token called C8. In case the follower traders are profitable, followers must pay a fee. A part of the fee is paid for the Carboneum system and the rest is transferred for the leaders. If the followers pay fee by C8 they will have 50% discount. This provides a natural incentive for the followers to buy and use C8 token. Also, C8 token can be used in the company’s existing businesses, StockRadars (a stock analytic and trading platform) and Fundradars (an investment platform), and added further utilities.

Key values of Carboneum platform include:

Transparency : Every transaction, performance statuses and historical trading positions will be recorded in ICON blockchain. Those types of information will be accessible by both followers and leaders.

Simplicity : Beginners who just embark on the cryptocurrency market can copy expert traders’ behavior instead of spending too much time learning about blockchain or market drivers from scratch. They can follow others first and learn as they follow the experts.

Incentivized Business Model: Carboneum creates a win-win situation for both followers and leaders. The more successful trades leaders have, the higher their rankings are. As a result, they will have more followers and more profit. In return for their fees, followers will successfully conduct the trading process without spending much time and effort keeping track of the market.

Knowledge Sharing: Thanks to watching how leaders set trading orders, the followers can learn the trading strategies and update their knowledge. As a result, the community will be better educated.

There have been several projects that help to simplify the trading process. For example, Kryll developed an intuitive platform to allow traders to create and share their trading strategies with each other but it will be difficult for traders to judge which strategy is good and to verify whether traders sincerely share their effective strategies or not. One more example for trading platform is eToro which also enables anyone to copy successful traders. However, eToro is a centralized platform so that the information of traders can be abused and manipulated by the company. Meanwhile, Carboneum is decentralized and it encourages both experts and newbies to join the network for their own profit. The leaders are selected based on evidence of their transactions which can be easily verified. The system works simply and effectively by utilizing trade records and connecting people.

More importantly, one of the most impressive points of Carboneum is that it has ICON as a technical partner. ICON blockchain has achieved great success and Carboneum can build its platform on ICON blockchain to save time on developing its own blockchain.

Team

a. Core team

Max Kortrakul (Founder & CEO): He had nearly 6 years working at the position of product marketing, general manager and regional marketing manager at ContentKeeper Technology, a company providing Web security solutions. He was also a part-time lecturer at King Mongkut's Institute of Technology Ladkrabang, a research and educational institution in Bangkok in 4 years. From 2013 until now, he has been CEO of Stock Radars.

Stock Radars is Thailand-based mobile app to provide people analysists and insights for the stock market. It has over 680K downloads and a joint service with LINE Finance, an app with over 4.8M users. Information in Carboneum’s website shows that several prestigious organizations such as Maybank Kim Eng, Line Finance or Krungsri financial group are customers or partners of StockRadars. StockRadars has received several awards such as Finalist Tech Startup of the year, Bronze Award, Private Sector of The ASEAN ICT Awards or Honorable Award of IT Princess Awards (Thailand), etc.

Pavalin Masagee (Head of Business Development): She used to be the executive assistant to the Minister of Energy. She had more than 4 years working as well completion engineer at PTTEP, Thailand’s petroleum Exploration and Production Company. It is a state-owned company. She was also Co-founder and CMO of Happenn (a custom event app) and Founder of Hom Hostel and Cooking club. Hom Hostel and Cooking Club is ranked no#3 in Tripadvisor in the top of nice hostels in Bangkok.

Ukadej Udomchaiporn (Head of Research): He has 12 years of experience as lecturer at King Mongkut's Institute of Technology Ladkrabang.

Ariya Thinkumpang (Core Developer): He was software engineer at Thomson Reuters which is a Canadian multinational mass media and information firm providing information technology and services in the financial and risk, legal, tax and accounting, and media markets. The organization has 1,242,846 followers in LinkedIn. After that, he has been working as software engineer to develop StockRadars.

Ian Borders (Carboneum Maker): He was CEO of Merge Pay, a company offering financial services; Fueled by Coffee. LLC, a digital advertising agency. Additionally, he is now co-founder of CoinSparrow, a crypto-concierge service for your everyday life. Those companies or projects are little known by the public

b. Advisors

Carboneum has an advisor team of 13 members.

Korn Chaitikavanij: the Former Finance Minister of Thailand; now the Head of Thailand Fintech Association. This information can be verified on the Internet.

Batara Eto: He was co-founder and CTO of Mixi, a Japanese social networking site. He is currently founder and managing partner of East Ventures, a venture capital firm focusing on Japan and Southeast Asia.

Pawoot Pongvitayapanu: CEO and Founder at TARAD.com and Efrastructure. TARAD.com is the First and the leader E-Commerce Solution in Thailand. Meanwhile, Efrastructure inc. company focuses on investment in E-Commerce, E-Marketing and E-Business. There is not much information about Efrastrucute and TARAD.com.

Prinn Panitchpakdi: Governor of The Stock Exchange of Thailand and Director of Director, Association of Thai Securities Companies.

The rest of the advisor team includes Krating Poonpot, Kai Tsang, Somboon Sukheiviriya, Louis Ryu, Prinn Panitchpakdi, Wenwei Wu, Sakolkorn Sakavee: , Jakraphan Saetiao, Chalermruth Narkvichien and Rawit Hanutsaha. Some of them are CEO of companies providing information technology services or cosmetics. Additionally, there are Altcoin Trader, a member of Evolution Media Capital, Beijing or Co-founder of Bitcoin Thai Club.

It can be realized that CEO and the core developer do not have direct experience in blockchain. However, the CEO used to work in a technology company and a part-time lecturer at an Institute of Technology. Meanwhile, the core developer used to work for Thomson Reuters as software engineer. They have background knowledge about technology so blockchain may not trouble them. Moreover, they have an engineering team who has expertise in blockchain to develop the project.

The advisor team includes some notable names. Many of them have deep knowledge about Fintech and financial services.

3. Project's initial achievements

a. Strategic partnership with ICON

Information on social channels of Carboneum and ICON namely Medium and Twitter shows that Carboneum and ICON signed a strategic partnership in which ICON will help Carboneum with its technical development on ICON blockchain.

Link:

https://bit.ly/2tawwUP

https://bit.ly/2LQbh25

b. Fund raising

In FAQ section in Medium, Carboneum mentioned that the project has already raised over 2 million USD during pre-sale.

Link: https://bit.ly/2LTuXSH

When the information about strategic partnership between Carboneum and ICON is widely spread, the project will receive more and more concern from the community. It is likely that more investors may be attracted to invest in the project.

Community

Telegram : 20,878 members

Facebook : 9,368 followers

Medium : 33 followers

The Telegram group was created on March 7. It has increased considerably. In the Telegram group, members ask questions and interact with the admins regularly. The team also actively interacts with the members.

Moreover Carboneum has a FAQ section in Medium. There are a lot of questions from the community that are replied briefly and clearly.

Token metrics

Total supply: 200 million C8

Hardcap: 12 million USD

1 C8 = 0.1 USD

Token distribution

60% Pre-Sale & ICO

20% Company

12% Team & Partner

5% Advisor

3% Rewarding Token (user acquisition)

2 years after Carboneum is launched, 20% of the network's profit will be spent to repurchase C8. In third year, there will be two times of token repurchasing in a year. From the fourth year onward, C8 will be repurchased once in each quarter. This activity is practiced until there is only 1 million C8 coins left in the open market. Repurchased coins will be burnt.

3% rewarding token seems a bit high. If the team wants to draw more attention from the public, they can invest more in marketing and pushing the process of technology development. If they distribute up to 60% token for Pre-sale and ICO, and 3% token for referral, it may be costly to repurchase C8 later.

Roadmap

25 Jun 2018: Crowd Sale ICO @ 10:08 (GMT +7)

8 Jul 2018: ICO Closes

Oct 2018: First launch: CoinRadars, crypto information and analytics platform

Q1 2019: Pre-launch social trading platform

Q2 2019: Full-launch social trading platform for cryptocurrency and digital asset.

Q3 2019: Pre-launch social trading platform for security

* Depending on SEC regulation

The team now is ready for ICO. Although they have not released MVP or demo testnet, they should show the time they have it in the near future. The roadmap also needs to include more details about technology development.

Summary

Advantages

The technological ideas of the project are clearly expressed so that everyone can understand what Carboneum is going to do. The technology can be more easily developed thanks to ICON blockchain.

The incentive mechanism of Carboneum system will benefit both newbies and experts in the cryptocurrency market. Good traders are encouraged to perform good trades to receive more fees while the followers can take time to learn about the market and trading .

The company behind Carboneum has achieved significant success, which can help investors and the community to trust more in the project.

Things to note

In case the project is making great progress, they can release some results or demo testnet to persuade that the team can guarantee the development of the project. More evidence should also be shown in Github.

3% token for referral is a bit high so the token price may decline when it is launched. According to the experience of ICOgens, the figure for referral should be ideally 1% only.

Although the team already has a large number of advisors. Carboneum should invite more some blockchain experts as their advisors.

Rate from Icogens.com:

HYPE RISK ROI TERM ICOGENS' SCORE HIGH MEDIUM NOT RATE NOT RATE NOT RATE

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*Note: All the information (on icogens.com) including tokens sales, “interest level”, ROI rate, hype rate, risk rate are our subjective opinion and only for informational and educational purposes. The information ICO Gens provides is not an investment advice.

HYPE: is defined as the level of concern over a project and its FOMO. This score is based on the number of people joining a project’s social channels such as Reddit, Telegram, Twitter, Facebook, Bitcointalk, Medium or Slack as well as the number of review articles produced by the third party.

RISK: the risk rate of the project. Based on this score, you can find more spam warnings of the project. More specifically, RISK is about the transparency of the project, its idea, members of the development team, roadmap and whitepaper. (RISK is rated regardless ROI rate of the project).

ROI: (Return on Investment): the rate of profit a project can bring to investors (ROI is considered separately from RISK. ROI can be rated High and RISK can be rated High as well).

TERM: this factor reveals the length of time you should hold token or coin of a project. The period of time can be Short, Medium or Long.

ICOGENS’ SCORE: this score can be decided by scores of four other scores or it will reflect the level of interest ICOGENS’ team has in the project. This score is separated from ROI score. It just shows how much Icogens core team concern the project.

You are reading [ICO REVIEW] CARBONEUM: Democratized social trading platform , from the section ARTICLES.

Source: Icogens.com