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DetectorToken Basic Review

PROJECT REVIEW

About the Project

Name: DETECTOR

Ticker symbol: DTCT

Project type: bot for monitoring cryptocurrency and betting markets

Company: Detector Token SA

Website: https://detectortoken.com/

Whitepaper: https://detectortoken.com/docs/DetectorToken_White_Paper.pdf

 

ICO details

ICO: August 20th, 2017 00:00 UTC - September 20th, 2017 00:00 UTC

Token type: ERC20

Total tokens: 12,000,000

Number of tokens available in sale: 10,000,000

Fundraising goal: 14,286 ETH

Price: 700 DTCT - 1 ETH

Accepted: ETH

Bonuses: August 20 to August 30 - 25% bonus, August 31 to September 9 - 10% bonus

 

Team

Team size: 3

Github: Not available

 

Social media

Slack: not available

Twitter: 18 tweets, 4578 followers

Facebook: 1997 followers

PROJECT DESCRIPTION

DETECTOR is a signaling bot that monitors cryptocurrency and betting markets. It is an intellectual algorithm discovering sharp changes in prices, cryptocurrency pairs trading volumes, or sudden changes in sports events coefficients. The algorithm also discovers unusual or dubious actions in the market, to help detection of fraud.

The founders claim that the signaling algorithm has already been tested by the team, and testers chosen from users. The signals were well directed 74% of the time during the two months of testing, so they earned 17% per day.

Currently anybody can try the bot, using Telegram or Slack. It is a free service; you can register on the project website and follow the instructions.

The ICO will be used for project enlargement and algorithm improvement. We question the necessity for new algorithms. According to whitepaper information, current algorithms offer an opportunity to earn 772 395 148 651 351 000 000 000 000% per year.

In future, DETECTOR users will also be able to create their own signals and offer them to other users, and owners of stock exchanges and betting shops will add their information to make analyses. The DTCT token will be the proprietary currency of the system; users will pay in DTCT tokens for subscriptions to the service.

RESUME

Recently, robo-advising services have become extremely important in cryptocurrency trading. The main concept of DETECTOR is to prevent information asymmetry in the market at the expense of provision with up-to-date information on important events. It seems this is a simple task, but it is very difficult to implement. Algorithms cannot determine very important events. In most cases when a client receives the signal, the event has already happened, and it is too late to make any decisions.

In regard to the DETECTOR ICO, we do not think it is a profitable one. Firstly, the current algorithm is raw and not sufficiently developed. For example, the signal concerning changes in trading volumes within the last hour as to weak marketable pairs is not very useful. Besides that, the bot does not give any advice. It just determines events, the user must check the situation by himself.

And we do not understand the rationale for token purchase and holding. We question the point of the ICO because the founders intend to spend most of the raised funds on marketing.

CONCLUSION

Pluses (strengths):

  • operates in the vitally important sector of robo-advising services for the cryptocurrency market;

Minuses (weaknesses):

  • unclear plans for development;
  • doubtful token investment highlights;
  • underdeveloped current service;
  • stated but not proven staff experience;
  • evident errors in the testing results

REVIEW OF COMPETITORS

There are several robo-advisors for cryptocurrency. There are online services, mobile applications, messenger bots, and combined services. They share features; they look like trading signals, modelling portfolios, and trade platforms. Among them are CryptoPing, BTCRobot, Gekko, CryptoTrader, Zenbot, Tradewave, and Haasbot.

CryptoPing is worth further mention. It carried out its ICO in the beginning of summer 2017; their target was 1000 BTC, which they achieved. Currently the PING token is listed, with capitalization of 2 100 000 USD. CoinMarketcap provides the following chart:

CryptoPing can be considered as proxy for DETECTOR. The platforms are similar, but CryptoPing’s services are wider-ranging. CryptoPing is also a signaling bot functioning on Telegram and Slack.

MARKET AND INDUSTRY REVIEW

Cryptocurrencies are becoming more popular among the representatives of the modern classical fund and currency markets. Robo-advisors are developing companies together with investment funds and asset management companies. Several years ago similar projects were popular among assets managers. Thanks to universal recommendations, computer algorithm-based advisors could meet clients’ demands for a competitive price.

According to BUSINESS INSIDER’s data from the beginning of 2016, by 2020 robo-advisor companies will have gained about 10% of the global volume of assets under management1. This is about $8 trillion.

The cryptocurrency market is going to grow, but the industry for cryptocurrency assets management is in its beginnings. Taking into account the fast growing interest in this market, this imbalance is a temporary phenomenon.

Regarding robo-advisors, this service has great prospects in the cryptocurrency market; it just needs to be improved in quality.

TECHNICAL ASPECTS OF THE PLATFORM

We can judge technological options on the basis of current functioning. As we know, DETECTOR is a signaling bot that operates on Telegram and Slack. It sends signals from cryptocurrency stock exchanges Poloniex and Bittrex. In addition it shows changes in soccer match betting coefficients.

In future the founders promise to increase opportunities to enter various platforms and raise the quality of recommendations. Technological features are not planned to be changed; algorithms will examine data on several platforms and send signals to Telegram or Slack.

The codes are not available at the time of writing - there is no GitHub repository.

DOCUMENTS

The website provides only a whitepaper, which is executed satisfactorily. There are some charts in the document, some of which are extracted from CoinMarketCap. They are not thorough, but the document is simple and clear, showing many advantages of the project. Sometimes however it is very difficult to understand these advantages.

Unfortunately the founders don’t describe the current algorithm for signal creation, which is the main value in the project. Maybe they consider the current algorithm is for testing only.

ICO

Token: DTCT

Start: 20.08. 2017

Close: 20.09.2017

Price: 1 ETH = 700 DTCT

Crowdsale pool: 10 000 000 DTCT

Wallets: ETH ICO

Allocation:

30% - Scaling

35% - Development

35% - Marketing

Raised capital distribution (extract from the documentation):

«We aim to allocate a large share of the funds raised to facilitate marketing activities that include raising awareness for our products on various platforms. 35% of the raised funds will be allocated to further development of the product to include new features and another 30% will be allocated to scaling our services with anticipated growth expected to bring in new customers and thus requiring expansion of our platform capacity»

Marketing budget allocation:

15% - gaming and betting events

15% - Facebook advertising

15% - Twitter advertising

25% - Cryptocurrency sites advertising

10% - Youtube advertising

20% - Paid articles

This budget is not fixed, but taking into account the given data, the token total supply is 12 000 000, the available volume for sale at ICO is 10 000 000, and 1 000 000 is the bounty program budget; the project team will get 1 000 000 DTCT.

PLANS OF THE PROJECT DEVELOPMENT

We see a highly dynamic roadmap. According to the roadmap, all plans are implemented up to the end of 2017:

August 2017

- Addition of Slack support.

September 2017

- Switching to a Subscription Business Model.

- DETECTOR will be added to altcoin exchanges.

- Developing surebets detector.

- Social betting and trading network.

October 2017

- Recruiting additional developers.

- Online marketing campaign.

November 2017

- Automate investing & betting

December 2017

- Advanced Technical Analysis

At this stage, the team will work on new algorithms to predict altcoin prices.

TEAM

Most staff members are IT experts, but the cryptocurrency market is more relevant and connected to investments, banks, funds, and brokerage company representatives.

TOMASZ MAZUR

https://www.linkedin.com/in/tomasz-mazur-7b85b4147/

Founder and Developer Since 2007, Tomasz has been developing applications for banks and other financial services. He has worked for a number of major clients. He is the leading full-stack architecture developer for the DETECTOR token.

DAWID KORALEWSKI

https://www.linkedin.com/in/dawid-koralewski-816657147/

Developer Dawid is a self-made man who began programming at the age of 14 and graduated from AGH University of Science and Technology. Since 2007, he has been developing applications for banks and financial services and has had the chance to work for several major clients and businesses such as PayPal.

ADAM KOWAL

Developer

Adam is a motivated, forward thinking, intelligent developer with a great deal of knowledge of his field. Adam graduated from Warsaw School of Computer Science then went on to work as a programmer for HP Enterprise.

MARKETING

The marketing budget is a large one. The budget for advertising and paid releases is 35% of the raised capital during the ICO. There are several articles and announcements on bitcoin.com, cryptoninjas, themerkle.com, cointelegraph, and other websites of the cryptocurrency community.

It should be noted that the project is carrying out a large-scale bounty program. It has been announced on bitcointalk2; the founders intend to spend 1 000 000 DTCT for public relations, about $440 000.

 

 

The information contained in the document is for informational purposes only. The views expressed in this document are solely personal stance of the ICOrating Team, based on data from open access and information that developers provided to the team through Skype, email or other means of communication.
Our goal is to increase the transparency and reliability of the young ICO market and to minimize the risk of fraud.
We appreciate feedback with constructive comments, suggestions and ideas on how to make the
analysis more comprehensive and informative.