COBINHOOD ICO – General info, Presale and Token.

COBINHOOD will be the world’s first zero fee high-frequency cryptocurrency trading exchange that solves existing problems of cryptocurrency exchanges.

 

SUMMARY.

• Project name: COBINHOOD.
• Token symbol: COB.
• Website: ​https://cobinhood.com/  
• Whitepaper: https://cobinhood.com/assets/whitepaper/whitepaper_en.pdf
• Hard cap: $30M.
• Current Conversion rate: $0.06 @ COB.
• No of tokens being sold at ICO: 500 million tokens. (50%of total supply)
• Ticket size: Minimum Presale amount 0.1 ETHER .
• Payment methods: Ethereum (“ETH”).
• Presale: Yes.
• White list: None.
• Bonus: Up to 20% discount is available to presalers.
• ERC20 token:Yes.
• Role of Token: Gives cheaper access to additional features.
• Crowdsale date: The COBINHOOD ICO starts on September 13th, 2017 and continues until October 22th, 2017.
• Token distribution date: Once the crowdsale has ended.
• Twitter: Total 1248 followers, 80 tweets.
• Facebook: Total 13045 likes, 80 posts.
• Country of origin: Taiwan.
• Company Size: 11-50 employees.

 

 

PROJECT OVERVIEW.

COBINHOOD is a digital currency exchange that, as you may have guessed from the name, promises to steal from the rich and give to those in need. To achieve that goal, COBINHOOD promises zero trading fees. The first service launched is the world’s first high-frequency cryptocurrency trading exchange that solves existing problems of cryptocurrency exchanges. You can preview it here.

COBINHOOD provides spot trading and margin trading with ZERO trading fees to maximize traders’ profit and market liquidity. It also provides ICO underwriting services to solve the problem of ICO token liquidity issues.

COBINHOOD will support the following cryptocurrencies: BTC, BCC, ETH, ETC, LTC, ZEC, XMR, XRP, COB, NEO, OMG, USDT, DASH, IOTA, EOS, REP, and GNT.

 

 

BACKGROUND.

With the advance of blockchain technology, more and more people are migrating from fiat-based financial system towards blockchain-based financial system. Since January 2017, the cryptocurrency market cap has increased from 7B USD to 110B USD in July. Moreover, cryptocurrency trading volume exceeded stock trading volume by August 2017.

However, existing cryptocurrency exchanges are not able to handle modern trading demands. This is due to:

• High trading fees (a 0.20% trading fee is average among the top 30 exchanges).
• Difficulties of real-time trading (due to rate-limited trading APIs and non-real-time transaction confirmation).
• Asset security issues (Mt. Gox, etc.).
• Limited multilingual support.
• Spot trading and margin trading may not always be included. There are usually stringent (and oftentimes steep) margin requirements, account minimums, and additional fees.
• Shutdown without Warning. Shutdown without warning is common amongst trading platforms. In 2014, Mt.Gox encountered serious technical failures, resulting in trading halts. The value of Bitcoin plummeted from 260 USD to 110 USD.
• Only Limited FIAT Currencies Are Supported. Most exchange platforms only support one kind of fiat currency. While some don’t even provide FIAT withdrawal/deposit.
• Lack of Multilingual Support. Most exchange platforms only support one language; only a handful are multilingual.
• Slow Customer Services and KYC Process. Take Kraken as an example, when the demand for identity verification is high, it takes around 30 days to complete Tier 4 verification.
• Low Liquidity of ICO Tokens. ICO tokens cannot be immediately traded in exchanges after their ICO. Low liquidity of ICO tokens means ICO tokens’ bid-ask spread is large, which further reduces their value. In addition, it required an intimidatingly high listing fee to list a token on one of the world’s top 10 exchanges. The listing fee is often as high as 500 to 1000 Bitcoin.

COBINHOOD expects to solve these existing problems.

 

 

FEATURES.

ZERO Trading Fees.

COBINHOOD features ZERO trading fees for spot trading and margin trading with up to 10x leverage to maximize the profits for traders all over the globe. Without relying on trading fees, the exchange’s revenue will come from its margin trading loans interest and ICO underwriting service fees.

100% Reserve Guarantee.

COBINHOOD guarantees 100% reserve. It will also disclose all online and offline wallet addresses for public audit, ensuring no embezzlement of traders’ funds.

Offline Multisig Wallet Security System.

Every kind of crypto assets deposited will be stored in an offline multisig wallet. It is estimated that 98% of assets will be stored offline, while 2% of assets will remain in an online wallet allowing for faster user deposit/withdrawal experience. The offline multisig vault requires 5 out of 8 geo-distributed hardware security modules to open. Furthermore, crypto assets stored in online wallets will be backed by insurance.

High-Performance Order Matching Engine.

The COBINHOOD platform can process more than one million orders per second with sub-millisecond latency. That’s as close to a secure, real-time cryptocurrency trading experience as possible. This makes COBINHOOD not only the world’s first cryptocurrency exchange capable of high-frequency trading, but also the leading cryptocurrency exchange in terms of order execution and profitability.

Two-Factor Authentication Enforcement.

COBINHOOD enforces two-factor authentication (2FA) to log in. Withdrawal of crypto assets requires an extra email confirmation to protect the user’s crypto assets.

Wide Range of FLAT Currencies Supported.

COBINHOOD will support a wide range of fiat currencies. Users are able to choose their preferred flat currencies to make funds deposit or withdrawals. Fiat currencies supported by COBINHOOD: USD/EUR/JPY/KRW/CNY/FIK.D/CAD/GBP/ AUD/NTD

The Most International Cryptocurrency Exchange.

The website and app of COBINHOOD support 10 main languages, covering 98 % of the world’s population’s native language, making it the most internationalized cryptocurrency exchange. Languages supported by COBINHOOD: Chinese/Japanese/Korean/English/Russian/ French/German/Spanish/Portuguese/Arabic.

Responsive 24/7 Online Customer Services.

COBINHOOD provides 24/7 online customer service. Should users encounter issues or need assistance, customer success specialists can be reached via the COBINHOOD website and mobile app. When a user submits an inquiry, the customer success team will respond within one day. COBINHOOD ‘s goal is to provide consistently excellent customer assistance.

User-friendly KYC Process.

COBINHOOD will enforce bank-level KYC (Know Your Customer) processes to comply with AML (Anti Money Laundering) laws. COBINHOOD provides user-friendly identity authentication services. The process usually be completed within 24 hours of customer Submission.

Decentralized Exchange.

In the future, COBINHOOD plans to build a decentralized cryptocurrency exchange. As the consensus algorithm of blockchain technology advances, decentralized high-frequency trading and real-time order book matching will become feasible.

ICO Underwriting Service.

New blockchain startups and existing enterprises – can launch an ICO through Cobinhood and enjoy compliance testing, security auditing, smart contract code review, legal compliance review, feasibility auditing and idea novelty review by COBINHOOD’s dedicated ICO review team.

Also, ICO tokens underwritten by COBINHOOD can be traded on COBINICOD exchange immediately after ICO, which selves CO tokens’ low liquidity issue.

 

 

WHAT’S UNDER THE HOOD?

COBINHOOD is built on the Google Cloud Platform and programmed in Golang for high concurrency. That way, each trading pair is processed through a dedicated order matching engine that guarantees high order matching speed.

COBINHOOD’s order matching engine is comprised of various microservices operating in tandem, from the order matching system to the job and message queue, deployed with Docker and Kubernetes, which helps achieve high availability and scalability of order processing at all times.

All orders are stored in Redis cluster, a top-of-the-line database technology that features horizontal auto-scaling and distributed in-memory replication. Transaction and order book updates are sent through Web Application Messaging Protocol (WAMP) for real-time updates at every tick.

Finally, all transaction records are stored in Cloud Spanner, a relational Google Cloud Platform database notable for its strong consistency and horizontal auto-scaling.

 

 

BUSINESS MODELS.

• Margin trading Loan Interest. Users can opt in to become margin trading loan providers and receive interest earnings with their asset deposits.
• COBINHOOD Prime. In 2018, Traders can subscribe to COBINH000 Prune” service for higher leverage on margin trading, lower latency ticker, higher trading API rate limit on COBINHOOD exchange, escalated customer assistance, docketed phone support, a committed customer success account manager, and 100% uptime SLA.
• COBINHOOD high-frequency trading server. COBINHOOD will launch its high-frequency trading server subscription service for Investment banks, hedge funds, and Institutional Investors.
• COBINHOOD ICO Underwriting Service. A percentage of ICO tokens underwritten by COBINHOOD will be collected as underwriting service too.
• COBINH00D financial center. COBINH00D will launch more financial products and services in the future. for example, crypto assets trading with stocks, Forex, commodity, market indexes, and futures. In addition, COBINH00D will also launch cryptocurrency wallet and payment services.

 

 

INTENDED USE CASES.

• Crypto-trading.
• Mergine trading.
• Exchange.
• ICO underwriting and listing.
• High-frequency trading.

 

 

HOW ADVANCED IS THE PROJECT?

Prior the ICO, COBINHOOD has already secured a 5 million USD in seed funding; including involvement from Banyan Capital, Infinity Venture Partners, and other investors.

The company has so far raised 9 million USD in its ICO.

 

 

GITHUB.

Starred by:10.

Contributors: 52.

Forks:4.

Commits: 2303.

Commit activity: 30 days.

 

 

COBINHOOD’s TOKEN.

COBINHOOD’s token symbol will be COB. COB tokens are based on Ethereum ERC20 token standard. The tokens do not represent a stake in COBINHOOD. Instead, token holders will be eligible for several privileges such as 50% off margin trading loan interest when paid with COB.

ICO participants can also access future COBINHOOD ICOs at a lower rate than ordinary ICO participants. Token holders will have access to a specific number of discounted tokens in that ICO based on the number of COBs they own. COB token holders can bind their Ethereum wallet address, which is holding COB tokens to their trading platform account, by calling the binding function In COB token smart contract. After the binding is complete, COB holders can get the ICO tokens at a lower rate on the exchange.

 

Token purchase.

Here is a guide on how to buy the tokens.

How to see the tokens in MyEtherWallet.

 

Token distribution.

A total of 1 billion COB tokens will be Issued. 50% of this is available during the ICO.

 

PROS.

• In stress tests designed to push the platform to its limits, COBINHOOD averaged 1,154,284 orders and 10,142 order book updates per second for each trading pair — making it the world’s first cryptocurrency exchange capable of true high-frequency trading.
• The COBINHOOD exchange, and features such as margin trading are scheduled to go online by December 2017.
• 50% tokens available to public.
• Great team.
• COBINHOOD offers 100% transparency. It discloses all online and offline wallet address for public scrutiny, ensuring that no embezzlement can take place that a forensic audit won’t catch.
• Du Jun, co-founder of Huobi, is part of this project.
• Can produce a more intuitive user experience as an exchange.

 

CONS.

• No working prototype yet.
• The tokens do not represent a stake in COBINHOOD. They only derive value from being used for various services in the platform.
• There are many projects surrounding this segment.

 

 

TEAM.

Cobinhood is led by CEO and Co-Founder Popo Chen, also known as Chen Tai Yuan. He’s a 26 year old serial entrepreneur from Taiwan. Other key members of the team include Du Jun (CSO) and Pu-Chen Mao (CTO).

The COBINHOOD Technology Team consists of former employees from Google, Microsoft, Lenovo, Cheetah Mobile, Mozilla, and 17 Media. Most of them are graduates from the world’s top universities, including Stanford University, MIT, Carnegie Mellon University, and UCLA. The team as a whole has solid domain knowledge on Google Cloud Platform infrastructures, blockchain technology, and financial transaction FIX protocol implementations.

 

 

ROADMAP.

 

CONCLUSION.

COBINHOOD is a ZERO trading tee cryptocurrency exchange that is capable of high-frequency trading. In the near future, large investment banks, hedge funds and Institutional Investors will be more than willing to enter the cryptocurrency trading market due to its high quality of service.