SERENITY (SRNT) ICO Review – ICO Token News
SERENITY (SRNT) ICO Review – ICO Token News
What is Serenity Financial?
Serenity Financial offers an arbitration platform, specifically designed to cater to Forex brokers and traders. The platform aims to unite brokers of any jurisdiction and traders from all around the globe. Taking advantage of blockchain technology and a depository system, it promises to provide fair withdrawals and trades.
The sole objective of this arbitration platform is to develop a standardized and secure trading platform and provide transparent trading environment that will make cross-border Forex trading hassle-free and trouble-free.
The system allows traders from around the world to have access to its platform and undergo its KYC verification process. Only after the completion of this verification procedure will the traders be able to start trading with any broker connected to the Serenity Network.
All transactions orchestrated by the traders and brokers on the platform will be made possible with the use of SI tokens.
Serenity Finance Network is therefore an independent marketplace with a smart contract depository that keeps records of all trading and non-trading transactions conducted in blockchain.
The platform is designed to be a single standardized system that will monitor and resolve disputes between brokers and traders and end the feasibility of client funds being misused.
Serenity Financial functions
Serenity Financial intends to merge traders and brokers from all around the globe over a digital currency and arbitration system. The system takes full advantage of the blockchain technology to regulate the dealings that take place between traders and brokers worldwide, thus guaranteeing the fairness of withdrawals as well as trades.
A few of the essential features of the platform are as follows:
All trades are fully controlled
The trading and brokering platform is built on blockchain technology, which means traders can use it to develop a standardized and unified system for recording as well as controlling all sorts of non-trading and trading transactions while thwarting forgery.
The Serenity Financial depository stores all funds deposited by the clients. The company guarantees full security to their funds, and doesn’t let the brokers misuse the deposited funds.
Independent arbitration board
The Serenity Financial independent arbitration board promises to resolve all transaction-related disputes based on any data recorded on the blockchain.
Guaranteed profit withdrawals
Serenity guarantees the withdrawal of proceeds, for; it makes use of its own liquidity pool.
Only one verification process required
The network allows for its own KYC system. This means that traders first need to go through the KYC verification procedure. Once it is completed, only then they will be able to trade with any broker connected with the system. The traders do not have to undergo multiple KYC process.
Brokers get liquidity, a bridge, and technology.
Finally, the system already has support from several brokers, comprising B2 Broker, Faster Broker, Carrax, UpTrader, XO Option, Grand Capital, Larson & Holz, and more.
Serenity Financial Uses
Below is a step-by-step process of how a trader can take advantage of Serenity Financial:
- Buy the Serenity tokens.
- Select a broker and then register with the system to open a trading account.
- Then transfer the tokens to the broker.
- The funds are held on a smart contract.
- Begin trading.
- Make a withdrawal request to Serenity if a profit is made by his/her trading activity.
- The broker then gives approval of the withdrawal.
- The trader can withdraw the funds into the currency of his/her choice.
Serenity Financial benefits
Serenity Financial is committed to providing brokers and traders with powerful benefits. Below are the details of the beneficial elements the traders and brokers will access:
1 – Enjoy the security and safety of their funds.
2 – Avoid the unlawful actions of brokers.
3 – Receive transparency for all of their trading transactions carried out between them (brokers and traders).
4 – Access to facilities for quick withdrawals and deposits of their funds.
5 – All of their trades are recorded in the blockchain, so they do not need to worry about backdating transactions.
6 – Withdrawals and deposits are standardized and are conducted using the platform with the help of Serenity tokens.
7 – Traders can easily switch brokers.
8 – Traders can easily change a broker because all brokers make use of the similar Serenity token.
9 – The system provides an independent arbitration process in case of any disputes related to transactions occurring between traders and brokers.
10 – Traders need to undergo only a single KYC verification process to start trading provided the brokers are connected in the platform
1 – The system allows brokers to display a sign of trust to their prospective traders by making a display of the Serenity Financial logo on their website, and ascertaining customers understand that all transactions are controlled and monitored by Serenity.
2 – Offers decreased transaction costs.
3 – Brokers can enjoy better accountability.
4 – Promotional backup (the Serenity budget comprises money for PR and marketing)
Serenity Financial ICO
Serenity was founded in January 2017, and the beta version of its automated trade analysis system was released in May 2017. The company launched its Cryptocurrency Exchange MVP, in June 2017, and in October 2017, the first brokers connected to the system. Later, it proposed its pre-ICO round, which ended in December 2017.
- Serenity Financial scheduled a pre-ICO from November 15-20, 2017.
- During its pre-ICO sale, the company promised to offer its investors a 50% discount.
- It also released up to 150,000 tokens during the pre-ICO round.
- The normal ICO is to take place from January 25 in this phase, the company offers investors from 10% to 40% discounts.
In addition, Serenity has already slated to offer the buyback program from 2019, but the launch date has not been announced.
The Serenity Financial token (SI) comes with a base value of 0.1 ETH. The company aims to make a total supply of 3.5 million tokens.
- 85% of tokens have been allocated for pre-ICO sale and ICO.
- 12% of tokens have been held for participants.
- 3% is reserved for the bounty program.
The token sale was open for citizens of almost all countries, excluding Singapore and the United States.
1 – However, if it is unable to raise up to USD2 million, or if the ICO does not succeed as expected, it will return the money to investors.
2 – If it makes an achievement of its targeted fund of USD2 million, it will come up with a wallet, an arbitration system, and a settlement system.
3 – Moreover, if Serenity achieves USD5 million, it will launch its pre-conceived KYC system.
4 – If it achieves USD10 million, it will create a bridge for trading platforms built into the Serenity payment solution.
5 – The company also plans to link external suppliers of liquidity and acquire the required broker licenses for functioning with prime brokers.
6 – When the company reaches USD14 million, it will create its own blockchain, its own built-in trading platforms on that blockchain, and the server as well as client-side plugins for MetaTrader.
Serenity itself says in its white paper that it has several ways of generating income, for example;
- The commission fees that it will charge by issuing its internal tokens in the system (or smart contracts connected to Ethereum).
- The subscription fees that it plans to charge category A brokers for a package of services, comprising liquidity, and technologies.
- The company will also be generating money with commission fees that it has decided to charge for manual arbitration.
Its proposed project, primarily targets brokers who provide online trading services through the MetaTrader 4 and the MetaTrader 5 platforms. There are around 6,000 brokers, but only 10% of them are being regulated. That means that they will hope to attract the interest of 90% of the brokers. For the remaining 10%, taking part in the system will also be helpful for PR purposes.
In comparison, there are around 4,000,000 traders. The average monthly withdrawals and deposits range from USD400,000 to USD600,000 in total for each broker.
The company says that when the system will have as a minimum of 1000 brokers and 10% of deposits will have passed through the system, the average monthly turnover of generated cash is likely to reach USD50 million.
Whereas other payment systems offer less but charge high for the creation of a contract and its movement within the network, Serenity has decided to allow all connected brokers to access all its services by paying the same price (1%).
The company estimates earnings of USD500,000 per month by charging these fees. Moreover, it will give some brokers category A status, and generate additional fees from the subscriptions as well as the sale of liquidity and technology. In this way, the average monthly turnover of the company could reach USD2 billion per broker and the usual margin for the sale of liquidity could touch USD2 for USD1 million traded.
Supposing that 100 (10%) of Serenity brokers obtain category A, there is chance that the sale of liquidity may bring about an extra USD4000,000 per month. In addition, with a normal subscription fee of USD2000 per month, this service would be generating another USD200,000 monthly. Overall, it can be said that the estimated revenue may touch USD1.1 milllion monthly.
The company may also attract the attention of the partners of brokerage companies – rebate services and similar. It is crucial for these types of businesses that mutual settlements come about very quickly and transparently. The project is anticipated to allow quick payments of partner’s rewards.
Serenity Financial team
Stanislav Vaneev leads Serenity Financial. Vaneev is also the founder and CEO of an international financial services company, known as Grand Capital.
Other key members of the Serenity Financial team include:
- Anton Vasin, Co-Founder.
- Vasily Alexeev, CTO.
- Denis Kulagin, Head of International Development.
The final version of Serenity is slated to be rolled out between September 2018 and February 2019. Between January 2018 and August 2018, the company expects to launch its wallet, conduct as a minimum 100 client transactions, and link its system to no less than three brokers.
Serenity Financial claims to thwart the digital currency world with a trusted intermediary arbitration platform completely dissimilar to platforms as Flying Money, Thrive, Asteroid, Amon, Havven, TokenLend, Phoneum. This new and novel platform promises to bring both traders and brokers onto this platform from where they will be able to trade without being worried about the brokering and trading insecurities for which the Forex is notorious.
Today, traders struggle to trust brokers with their money, encounter many challenges in withdrawing their own funds, and risk the fact that brokers may flee by shutting down their brokering business. Serenity’s intermediary arbitration platform is designed to provide relief from these elements. The platform leverages blockchain technology and also resolves issues that may arise between traders and brokers during their transaction activities.
Moreover, the platform also provides maximum trading and brokering transparency by keeping records of all transactions carried out on this platform. However, users must have SI tokens to perform these activities.
Thus, the idea of uniting traders and brokers on a single platform is an innovative proposition, but we will need to wait until its full-fledged launch to see the results. Although this project has already acquired sufficient support from many leading Fintech companies and brokers, who want to act both as marketplace participants and partners, time will tell if it is a successful venture or not.
Serenity Financial in media
Financemagnates: Serenity Financial Offering Unrivaled Level of Customer Protection
Coinspeaker: Serenity Financial is Reinventing Forex
Metaquotes: UpTrader releases a portfolio of MetaTrader 5 brokerage solutions
Security Financial in social media