Gen
esis Vision
Hallo everybody .. I introduce with you a good project for you to join and invest with this project, they are running ICO which is very good for all those who want to get to a stable profit.
If you are interested in joining this project, you can read the articles I made, for convenience in investing.
Introduction
Genesis Vision is the platform for the private trust management market, built on blockchain technology and smart contracts. We unite exchanges, brokers, traders, and investors into a decentralized, open and fair network, making the financial market even more global. This will allow successful traders to rapidly scale their trading strategies by attracting investments from around the world. The smart contract technology that underlies the platform will provide an automated and absolutely transparent system for investment and profit distribution.
The Genesis Vision platform is the solution for the most crucial industry problems, such as limitedness due to the lack of information, lack of transparency and, consequently, lack of trust.
Fundraising and the use of GVT (Genesis Vision Token) will help to finance product development, marketing and advertising for the development of the platform. GVT is an internal currency of Genesis Vision platform and will be used for all investment operations and profit distributions.
Market Description
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Managers
Management funds/traders are companies/individuals with a proven trading history, ready to acquire investors' money for management. The profit, received as a result of management of the total funds, is shared proportionally between the managers and investors. Managers receive a commission for management and a commission from the profit (success fee).
Investors
Investors do not trade in the market directly. Instead, investors transfer their funds to experienced traders who manage the funds for them. Investors get their shares from their managers’ profits
Brokers
Brokers are companies that have the appropriate licenses to carry out brokerage activities. Through brokers, traders have access to trading financial instruments on exchange and over-the-counter markets.
Market Operation Scheme
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Market Size
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The trust management market is growing rapidly every year. According to the Boston Consulting Group report Global Asset Management 2016, the total amount of funds in management is more than $70 trillion.
Quantitative data about client assets actively traded and under management on global Forex and CFD markets:
Traditional Trust Management
From a technological point of view, traditional fiduciary management systems are a black box to potential investors, because how they work is not always known or understood. In any event, all of the current solutions boil down to the investor using some software to transfer money to a financial manager and then waiting to receive profits. However, investors have no opportunity to control their own funds. Furthermore, the fiduciary management system itself doesn't give investors any technical abilities to ensure that their funds are returned, nor does it provide an understanding of how the money is used.
The investors receive a statistic on the use of their assets and the financial manager's performance, but this statistic is determined entirely by the company and financial manager. At present, investors have essentially no way to verify this information. Too often, the real situation is understood too late, when the money can no longer be returned.
Dishonest companies exploit this, scheming to attract customers by using high figures that turn out to be not so promising in reality.
Our system adds transparency and, on a technological level, increases asset security and information reliability. Decentralization guarantees that one person won't be able to use the entire system for his personal interests.
Description of the Problem
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Despite the industry's steady growth, existing trust management mechanisms do not meet the requirements of modern investors and managers. Managers, and consequently their investors, are tied to their brokers/exchanges. Simultaneously, there is no consolidated reliable source of information or statistics. This deprives investors of flexibility in their choices and limits the manager’s ability to attract new funds
The lack of transparency further exacerbates the situation. Brokers have the technical ability to influence the data on the trade history and statistics of their managers. The potential investor does not have the ability to distinguish the real trade history from the counterfeit, and the existing graph of the manager's profit from the "drawn". The mechanisms of investment, distribution of profits and commissions are hidden inside the realization of trading platforms and are not open to market participants
A large number of fraudulent conducts in the trust management market was detected in recent years[1]. A lot of Ponzi schemes were created under the guise of currency, stocks and other assets trading. Fraudsters used the fact that technological solutions for trust management by default are very complicated and non-transparent for users. As a result, customers lost their money overnight, and investor’s confidence in the market as a whole began to fall.
The natural reaction for this situation was tightening the regulations in this sphere. Nowadays companies have to come a long and expensive way in order to obtain licence for trust management activities. Conscientious companies have to implement complex and costly reporting and auditing systems as well as to impose serious restrictions for investors. Obviously, neither companies nor investors benefit from that. However, offshore companies continue operating without licences and deceiving their clients.
All of these factors lead to serious limitations on the potential of market participants, lack of usability, and lack of trust
Despite the visibility of the existing problems in the industry, for the past 10 years, the mechanisms of interaction between market participants have not undergone significant changes. This indicates the need to introduce new technologies that will change the current situation.
We believe that one of such technologies can become the blockchain. Implementation of blockchain will allow trust management market to achieve transparency and efficiency on the technological level. This will help to regain the trust to the market. Besides that, it will attract the attention of new companies and the investors of the new digital generation.
Our Solution
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Genesis Vision is a decentralized trust management platform built on blockchain technology and smart contracts. Blockchain technology provides indispensable advantages, such as openness, immutability, and censorship-resistance of all stored information, whereas smart contracts, which will be carrying out investment and profit distribution, make these processes completely transparent and open.
Each manager in the Genesis Vision network has his own cryptocurrency. The size of the issue depends on successful trade statistics. The process of transferring funds to the manager is carried out by buying a manager's cryptocurrency on the internal exchange.
From manager’s point of view, the trade process will not change. The trader will continue to operate on the exchange or through a convenient broker. Genesis Vision, in turn, represents a common open source of reliable information about the statistics of the network participants' activities and an absolutely transparent system of investment and profit distribution, built on smart contracts.
Advantages for Investors
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Advantages for Private Managers and Funds
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Advantages for Brokers
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Project Architecture
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Internal exchange of managers’ cryptocurrencies
Internal exchange of the Genesis Vision platform is the place where investors can purchase and sell managers’ coins. Managers have a limited amount of coins, which depends on their level. Initially, these coins can only be purchased directly from the manager for a fixed price. Afterwards, they can be freely traded among the investors on the internal exchange. In this case, investors set their own price for their managers’ coins. The cost of these coins will depend on the success of a manager’s trading because the manager’s profitable trading makes his/her coins "profitable."
Integration with trading platforms
In order to connect to the Genesis Vision network, a broker needs to install an integration plug-in for his trading platform. This plugin will be a bridge between the blockchain and broker’s trading platform. The integration plug-in will perform the following functions:
Client Applications
To interact with the platform, a mobile and web application will be developed. This application will allow investors and managers to perform all of the necessary actions. The basic actions include:
Application functionality for managers:
Scheme of Operation of the Platform
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Connecting a Broker
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The broker's connection scheme is as simple as possible: the owner of the trading platform only needs to install the Genesis Vision software, which is free and distributed with an open license. Brokers can also provide potential managers’ access to the Genesis Vision Manager registration function in their client application - generally a "Become a Genesis Vision Manager" button.
Connecting Managers
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Traders submit applications either through their brokers’ websites, connected to the Genesis Vision network, or directly through the website http://genesis.vision. Under simple conditions (having a minimum amount of one’s own funds in a trading account), the trader becomes the manager on the Genesis Vision platform. From that moment, all managers’ trades will be automatically verified, uploaded, and recorded in a smart contract, building a trustworthy trading history and statistics.
A new manager registration triggers the emission of his own cryptocurrency in the initial amount of one thousand coins, available for purchase to any member of the network. Additional issue of coins (i.e., attraction of additional funds to management) depends on the level of the manager, which, in turn, directly depends on the success indicators of a particular manager’s trading.
Available investments depend on the level of the manager:
The manager trades using both his capital and the funds invested by investors. The profit received as a result of the trade is automatically distributed proportionally between managerial token holders at the end of the reporting period. Managers themselves choose the length of the reporting period, according to their trading strategies. The choice is limited to options such as one week, two weeks, one month or three months
Managers’ Coins
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Investing is performed by purchasing a manager's cryptocurrency. This method has several advantages over the traditional scheme of transferring money to a manager’s account:
- The manager's coin itself is an asset. At any time, the investor can transfer/sell this cryptocurrency on the internal exchange. The investor has the right to return the coins to the manager. However, the return occurs only at the end of the reporting period.
- The additional element of gamification appears. Unlike the traditional scheme, the user does not just give his money to an unknown until the end of the reporting period. Instead, the user buys “tangible” coins that are displayed in his or her personal cabinet and can be cashed at any time. This encourages investors to potentially assemble large packages of different coins, which is a contrast to traditional investing.
- There is an additional factor of involvement and user retention. In the traditional investment scheme, investors are not involved in the process that occurs between the moment of investing and making profits. In our case, they will be able to constantly monitor the exchange rates of their managers' coins and the issuance of new coins, trade cryptocurrency on the internal exchange and so forth.
When investors purchase coins, GVTs are transferred to a broker's account, where they are converted to required currency and transferred to a manager's trading account. Coin holders receive part of the manager's profits, according to their share, minus the manager's commission and fee. The investor has the right to transfer coins or sell on the internal exchange.
The investor can withdraw invested money, but only at the end of the reporting period, having previously created an application for withdrawal. In the case of returns, the investor receives the money according to his or her share, and the coins are returned to the manager for further sale on the internal exchange.
Detailed Process Description
Registration
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1. In order to become a manager of Genesis Vision, traders confirm their participation on their broker’s website or on the website http://genesis.vision. A prerequisite for participation is the availability of a minimum amount of their own funds in the trading account.
2. When registering, the manager indicates the length of his reporting period, in accordance with his trading strategy (one week, two weeks, one month, three months)
3. This completes the registration, and the trader enters the list of Genesis Vision managers.
3.1 The manager’s trading account is blocked from depositing and withdrawing funds.
3.2 The Ethereum platform issues manager's own cryptocurrency in the amount of one thousand
coins. Coins immediately become available for investors to purchase in the primary market of the manager’s cryptocurrencies.
3.3 The first reporting period begins
Reporting period
During the reporting period, the manager trades on his or her trading platform with the amount of funds available at the beginning. The history of its trading is unloaded from the trading platform and recorded in IPFS in real time.
The manager can leave a request for deposit/withdrawal of his own funds from his trading account, which will be processed at the end of the reporting period. In this case, the amount of remaining funds should not be less than the minimum amount.
Investors can buy the manager’s coins on the primary market for GVT. In this case, the transaction is recorded in the manager's smart contract and will be implemented at the end of the reporting period.
Investors can freely transfer and sell their coins on the internal exchange.
Investors can leave requests for withdrawal of their invested funds, which will be processed at the end of the reporting period.
End of the reporting period
1. The integration plug-in initiates the completion of the reporting period.
2.Each manager’s profit is calculated. All received profit, minus the manager’s commission, is transferred from the broker’s wallet to the address of the smart contract.
3.The integration plug-in executes requests for the input/output of funds received during the reporting period.
4.The next reporting period starts. Investors can leave requests for withdrawal of their invested funds, which will be processed at the end of the reporting period.
Managers’ Trading History Control
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One of the most important problems solved by Genesis Vision platform is the managers’ trading history control and verification.
If we were able to record all transactions in blockchain in real time, it would be a possible solution. But this is not feasible for a number of reasons:
- Blockchain technical limitations. Processing of such a large number of transactions will create considerable load on blockchain platform.
- Not all managers will agree to publish all their transactions in real time out of concern for their trading strategies protection.
The problem of blockchain limitation can be avoided by using a number of existing technologies and new solutions:
- The broker’s trading platform plug-in writes all transactions in IPFS.
- An off-chain communication channel is created between members of the network (using the Whisper protocol or any other). After each manager’s transaction, a hash of the current trading history is sent to the network.
- Special service verifies that there were no history amendments, using received hashes and IPFS data.
Publishing managers’ trades in real time potentially endangers their unique trading strategy. That is why traditional trust management systems usually offer an option to hide trading history during the reporting period.
In Genesis Vision it would be implemented as follows:
- At the beginning of reporting period, broker’s trading platform plug-in generates a crypto key for the manager.
- All managers’ transactions are written in IPFS encrypted
- At the end of reporting period, a key for decryption is published and the entire trading history becomes public and available for validation by hashes.
ICO
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Genesis Vision ICO Options
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Recent ICO campaigns identified a number of problems in this process:
- People who have been following the project for a long time can simply be late to invest money
- A large influx of transactions in the first minutes after the launch of the ICO creates difficulties for ICO investors and other Ethereum blockchain users.
- Due to the geographical dispersion of investors, participation for many of them may be compounded by the fact that the launch of ICO falls on a deep night in their time zone.
- Early investment bonuses are often given not to actual first supporters, but to those who managed to be the first to carry out a transaction in the blockchain.
To solve these and a number of other problems, Genesis Vision team is launching an option program for ICO participation
Conditions
Genesis Vision option guarantees the right to acquire GVT tokens at a specified price during the ICO. Genesis Vision option token is based on ERC20 Ethereum token standard.
The option price is 5% of the desired amount of investment.
Options will also give additional bonuses for tokens’ amount: Options for the first 20% of the maximum options cap guarantee their holders a 30% bonus; the next 30% receive a 20% bonus, and the remaining 50% receive a 10% bonus.
30.3% of GVT for sale will be available for purchase by Genesis Vision option program.
To acquire the option, an ICO investor pays 5% of his total desired amount of investments. The amount of tokens available for the purchase during the ICO is calculated according to this formula:
Example:
An investor wants to invest $1000 in an upcoming ICO. Suppose the current ICO bonus is 30%. The price of the option is 5% of the total amount - $50. Investor can pay corresponding amount in any of supported currencies. The amount of GVT available with this option will be:
In this example, investors are guaranteed to be able to purchase up to 1300 GVT by the price of $0.73 per token during the first day of ICO
On the first day⁴ of ICO, tokens will be sold to option holders only. When option holder purchases GVT during the ICO, his option (or a part of the option) is exercised: option tokens are burned and a corresponding amount of GVT is acquired.
If investors didn’t exercise the option on the first day of the ICO, they can do it on any other day, but in this case the option will be exercised only if the ICO pool has enough tokens. If option holders do not exercise their options during the ICO, the options will be cancelled. Options can be exercised partially.
Options are non-refundable; money collected from sold options can be spent by Genesis Vision immediately on platform development and marketing.
Team
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Advisers
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That's it. articles I've created to help you, for someone who is less understanding with the articles I've created, I've also set up a link for you, where you can ask the team of the Genesis project.
Thank you, for your time to read the article I created for today, hope it can be useful for all of you, who want to participate in the Genesis project.
For those who want to join bounty campaign, I also have a special link for bounty campaign.
For more information :
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Username BTT : bakul banyu
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