AICoin is a passive investment vehicle created by First Global Credit (FGC), a bitcoin exchange and platform for trading in stocks, ETFs, and futures, with offices in Switzerland and Hong Kong. Its strategy consists of utilizing AI models and FGC’s proprietary technology to optimize trading in the top cryptocurrency markets and take advantage of market inefficiencies, and to then use the generated profits to finance investments in early-stage companies focused on AI and public blockchain technology. The AI models are designed to adjust to changing market conditions in real-time and to exploit short-term market opportunities, thus providing a constant stream of funds funnelled into a Seed Investment Pool. Five pre-vetted start-up companies will be presented to AICoin token holders quarterly, to vote on for potential investment; token holders will be able to vote for their preferred choice of the five investment options, along with an option of making no investment in the current period.
The assets, which will be collectively owned by the AICoin token holders, will be managed by a Singapore based holding company. All the assets, be they capital, market positions or positions in start-up companies are to remain in the company’s holding for future asset growth. The company will operate bank or exchange accounts as well as cold storage wallets for holding selected fiat and crypto currencies, comprising its Coin Pool, which will be traded using the AI models outlined on the development website. Every week in which the Coin Pool plus profit reaches a new peak, 10% of the profit will be paid to FGC developers for the ongoing maintenance and enhancement of the AI trading models, and 50% will go to the Seed Investment Pool (also held by the Singapore company), while the remaining 40% will be retained within the Coin Pool to increase the funds available for trading. Token holders will be able to validate the holdings of the entire Coin Pool at any time, to ensure assets and performance is reported accurately on a continual basis. The company will pay tax on all profits, as well as audit fees, running costs, and expenses, which will be laid out in quarterly audit reports prepared by an independent international accountancy firm.
Token holders will use their combined expertise to select long-term seed investments in the fields of public blockchain and AI. The company’s Investment Board will review proposals and and select the most promising five prospects to put forward to a quarterly vote by the token holders. The company with the highest number of votes (weighted by token ownership) will receive funding from the company (following due diligence). It is also possible for the highest vote to be ‘None’, in which case no investment will be made in that quarter. When a seed investment is ultimately sold, 10% of the profit will be paid to FGC for managing the investment process, while 90% will be re-invested in the Seed Investment Pool. The Investment Board will initially consist of five members, two of which will be appointed by the token holders, and three by FGC. Token holders will be appointed to the Investment Board in an annual vote, for a duration of two years, where every year one or the other will be replaced.
AICoin is structured to build asset value for the benefit of token holders. To allow AICoin token holders to realize some of their gains, the token will be tradeable on a number of exchanges including FGC, Poloniex, and Bittrex. There will be no further issuance of tokens – new investors will need to purchase tokens in the open market. The value of the AICoin token is expected to reflect both the trading profits and the anticipated value of the seed investments. To ensure liquidity, AICoin will release up to 10% of the Seed Investment Pool to purchase tokens at 5% below current asset value, to be offered back into the market at 20% above purchase price. Profits accrued from the difference between buy and sale prices will be returned to the Seed Investment Pool.
|Token Sale Dates||ICO ends on 28-August.|
|Total Supply||77,000,000 tokens|
|Raise Limits||N/A; 100% of assets collected during the ICO will be used for trading.|
|Pricing Structure||1 XBT = 100,000 XAI|
|Technical White Paper||https://www.aicoin.io/wp-content/uploads/2017/08/AICOIN.Whitepaper.20.08.17.pdf|
|Team||AICoin is headed by founders Gavin Smith, Andy Tynan, and Lee Cooper.
Gavin Smith is the CEO of First Global Credit, and has 25 years of experience in finance; prior to FGC, he was a senior pricing and risk analyst and a global derivatives and hedging product owner for Trafigura. Andy Tynan is a developer
with a 25-year history of working at banks and companies like Openlink financial. Lee Cooper has 17 years experience in development, is a senior software developer at FGC and lead architect at Standard Chartered Bank, and also has background at Trafigura.
|Prototype||The AICoin artificial intelligence developers have been trading a live account and blogging about how the model learns and develops. You can review the blog and entire trade history on the developer’s blog.|
|Token Rights||Voting rights on quarterly investments in blockchain and AI start-ups, weighted by number of tokens owned. Possible investment board membership.|
*Disclosure – At the time of writing, cryptorated staff owned no AICoin tokens.
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