DetectorToken Basic Review
|Start ICO||19 Aug 2017|
|End ICO||19 Sep 2017|
About the Project
Ticker symbol: DTCT
Project type: bot for monitoring cryptocurrency and betting markets
Company: Detector Token SA
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
Bonuses: August 20 to August 30 - 25% bonus, August 31 to September 9 - 10% bonus
Team size: 3
Github: Not available
Slack: not available
Twitter: 18 tweets, 4578 followers
Facebook: 1997 followers
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.
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.
- operates in the vitally important sector of robo-advising services for the cryptocurrency market;
- 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.
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.
Start: 20.08. 2017
Price: 1 ETH = 700 DTCT
Crowdsale pool: 10 000 000 DTCT
Wallets: ETH ICO
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:
- Addition of Slack support.
- Switching to a Subscription Business Model.
- DETECTOR will be added to altcoin exchanges.
- Developing surebets detector.
- Social betting and trading network.
- Recruiting additional developers.
- Online marketing campaign.
- Automate investing & betting
- Advanced Technical Analysis
At this stage, the team will work on new algorithms to predict altcoin prices.
Most staff members are IT experts, but the cryptocurrency market is more relevant and connected to investments, banks, funds, and brokerage company representatives.
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.
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 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.
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.