Skraps
Skraps - Invest your spare change in diversified portfolios of cryptocurrencies
Hi everyone, I will explain a new project that has been created.
They are an investment project which invites all of us to learn to invest from now on. Hopefully this information is useful for all of you.
Introduction
Everyone knows that it's good to start investing. But very few people actually invest. The reasons include lack of knowledge about investment and cognitive loads in making a set of decisions about how much investment, where to invest and when to invest. According to this survey, 40% of millennia feel they do not have enough money to start investing in the stock market and they believe it takes a lot of money to get started. Many fintech companies have tried to make investments simpler and reduce the investment process. Robotic advisors such as Wealthfront and Betterment allow users to start investing in just a few clicks. Taking this step further, backup investment apps such as Acorn and Stash even reduce the burden of investing by investing the amount of reserve changes from each of their user transactions.
With recent crypto growths such as Bitcoin and Ethereum, many people have invested in crypto. Some famous investors like Fred Wilson [2] and Chamath [3] have stated that one must have at least 1% of their portfolio invested in crypto. This has led to the emergence of Meteoric Bitcoin and other crypto tokens (Figure 1) in recent months attracting more investors to this asset class.
Micro Investment
- Connect your wallet
Connect your cryptocurrency wallets and debit/credit cards. - Make a PurchaseSpend like normal. You can determine which purchases to round up and by how much.
- Invest your ScrapsThen, your spare change is invested into portfolios based on your risk aversion.
Leaderboards and Community
User portfolios in the Skraps platform will be ranked on the leaderboard. Other users can only partially view this portfolio on a leaderboard, but must pay Skraps token to view the entire portfolio. A portion of this fee will be paid to the portfolio owner and some will be paid to SKRAPS. Once fees are paid, users can copy this portfolio on leaderboards for their own benefit.
For users who are continuously ranked at the top of the leaderboard, there will be additional rewards. So for every week a user is in the Top 10, he will receive some Skraps tokens. This will incentivize crypto-expert users to join the platform and improve the quality of portfolios available to users. It will also create a healthy social dimension to the platform by encouraging competition among users to appear on the leaderboard.
SECURITY
All of the users' data is protected with 256-bit encryption and never stored on their
devices. Customer peace of mind is our highest priority. At Skraps, we work hard to protect users' information, prevent unauthorized account access and notify them of any unusual activity.
SMART INVESTING
Transaction costs imposed by public blockflases must be carefully managed so that users get the best value for their investment. Frontend skraps will have the ability to perform 'smart sending' when mining costs are low. Weekends for example are known as the right time to send funds. Because each transaction must be signed by the user by providing their key, the actual transaction signing can only happen when they have opened the app. To achieve the lowest transaction cost for user investment, we have found a 'smart sending' mechanism
The app will prompt the user to 'send funds' when opening the app. But the funds will not actually be delivered. We will store the signed transaction in the backend and the backend system will send the signed transaction at the optimal time. In this way, the SKRAP server will not save the private key. Only signed transactions will be temporarily stored for delivery when the cost is most effective
Exchanges and crypto conversions
Skraps wallet will be connected to three different exchanges (Kraken, Poloniex,cex.io) via frontend API in order to buy ethereum (if user has fiat) in the most optimal exchange. Etherscan then be used to buy the target cryptocurrency using shapeshift.io API. Skraps wallet will be integrated with Shapeshift to enable real time conversion from one crypto-token to another.
User portfolios in the Skraps platform will be ranked on the leaderboard. Other users can only partially view this portfolio on a leaderboard, but must pay Skraps token to view the entire portfolio. A portion of this fee will be paid to the portfolio owner and some will be paid to SKRAPS. Once fees are paid, users can copy this portfolio on leaderboards for their own benefit.
For users who are continuously ranked at the top of the leaderboard, there will be additional rewards. So for every week a user is in the Top 10, he will receive some Skraps tokens. This will incentivize crypto-expert users to join the platform and improve the quality of portfolios available to users. It will also create a healthy social dimension to the platform by encouraging competition among users to appear on the leaderboard.
SECURITY
All of the users' data is protected with 256-bit encryption and never stored on their
devices. Customer peace of mind is our highest priority. At Skraps, we work hard to protect users' information, prevent unauthorized account access and notify them of any unusual activity.
SMART INVESTING
Transaction costs imposed by public blockflases must be carefully managed so that users get the best value for their investment. Frontend skraps will have the ability to perform 'smart sending' when mining costs are low. Weekends for example are known as the right time to send funds. Because each transaction must be signed by the user by providing their key, the actual transaction signing can only happen when they have opened the app. To achieve the lowest transaction cost for user investment, we have found a 'smart sending' mechanism
The app will prompt the user to 'send funds' when opening the app. But the funds will not actually be delivered. We will store the signed transaction in the backend and the backend system will send the signed transaction at the optimal time. In this way, the SKRAP server will not save the private key. Only signed transactions will be temporarily stored for delivery when the cost is most effective
Exchanges and crypto conversions
Skraps wallet will be connected to three different exchanges (Kraken, Poloniex,cex.io) via frontend API in order to buy ethereum (if user has fiat) in the most optimal exchange. Etherscan then be used to buy the target cryptocurrency using shapeshift.io API. Skraps wallet will be integrated with Shapeshift to enable real time conversion from one crypto-token to another.
- Tokens will help the growth of the platform, as early investors can buy tokens at a lowerprice and act as evangelists so that more and more are introduced to Skraps platform. Asmore and more people join the Skraps platform, the token price would increase. This would help early investors make good returns on their investment. Token issue thus helps solve the problem of cold start which affects most platforms. As more people join Skraps platform, we can offer them services at lower transaction fees. (Same concept as bigger mutual funds can charge lower transaction fees as their fixed costs are distributed over a larger number of customers)
- SKRAPS token will be used to pay the portfolio managers in the platform. This would ensure that the incentives of the portfolio managers are aligned with those of the Skraps platform. Since portfolio managers are paid in tokens, they will benefit if the tokens increase in value. If the portfolio managers are able to generate good returns, more customers will be attracted to Skraps for investing which will increase the demand of the token and this its price. This is win-win for both the portfolio managers and the platform
- Token sale (Token Sale ) is a good way to generate initial investment which can fund the early development and marketing of the product.
TOKEN SALE
The total number of SKRAPS token which will be ever created is 110 Million. Out of this 66 Million will be available as part of the token sale in Token Sale and whitelist. 11 Million tokens each will be reserved for founders and advisors/team. 5.5 Million tokens will be reserved for spending in Marketing and Bounty programs. 16.5 Million tokens will not be issued at the time of Token Sale and will be reserved for a future token issue. All unsold tokens will be distributed to token holders proportionally.
ROADMAP
For more information about the projects they created, you can visit the links I've listed below. Thank you for reading an important article that I made this, may be useful for you and others.
View Links:
- WEBSITE: https://skraps.io/
- WHITEPAPER: https://ico.skraps.io/SKRAPS_White_Paper.pdf
Author : Satria99
My Profile : https://bitcointalk.org/index.php?action=profile;u=1940293;sa=forumProfile
ETH : 0x95263fDb033E049Fb739fF09a7f08C4e6D934081
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