Welcome to the latest instalment of our Adopt a Crypto Project Column! Today, we will dive into a French project that wants to revolutionise trading and build up people’s trust in the space…
Trading is known as the art of manipulating purchases and resales of assets in order to derive an economic benefit. It has become increasingly democratised in recent years due to the accessibility and emergence of online trading services and is helping many of us earn a small fortune. However, big gains are always associated with big risks, and those linked to trading are numerous: trading is difficult, strategies are sometimes very time-consuming and constantly buying and selling stocks is all too often addictive. But today, with the crypto universe swept up by the DeFi trend, the promising new service Diabolo.io could well disrupt the standards of Bitcoin trading and cryptocurrencies!
This copy trading solution simply involves mimicking the buy and sell orders of a professional and experienced trader in order to earn similar returns. It should be noted that Diabolo.io is not a trading platform, but a tool that works in synergy with platforms such as Binance or KuCoin.
To use the site, you need to sync your exchange account with the platform and allow it to mirror the moves of professional traders. There is no reason to panic, your bitcoin and other cryptocurrencies never leave the exchange’s wallet and Diabolo.io’s traders and team never have access to your funds. In addition, Diabolo.io’s copy trading solution is fully automated and monitored.
The platform uses its own ERC-20 token, DCASH. This type of token has become the standard of the Ethereum network.
DCASH allows the user access to Diabolo.io’s various solutions, making it a utility token. We’ll go into more detail about DCASH and its interesting features later in the article.
In addition, Diabolo.io also offers holders the chance to generate passive income in the form of rewards every month. It is clear that Diabolo.io is geared up to be a management fund for passive investment. Based on the number of DCASH tokens held and the overall performance of the top three Diabolo.io traders, DCASH holders are automatically credited with an additional amount of DCASH. All this revenue is 100% passive, and as a bonus, if you use your DCASH for other Diabolo.io services such as copy trading, they will still be accounted for when dividends are calculated.
Diabolo.io will soon be working on the ultimate trading 2.0 solution: performance tokens. These are separate tokens from DCASH, which will tokenise the performance of a designated trader. For example, if the trader achieves a 5% growth in performance, then the value of their associated performance token will also grow 5%. With this solution, it is no longer even necessary to have an account on an exchange. The capital gains generated by these changes in values are returned to the user in the form of DCASH, which they can then convert into fiat or leave on the platform to continue generating even more gains.
Traders also benefit from using Diabolo.io. They can generate additional revenue through copy trading, as they earn a commission on users’ earnings and will soon be able to hold their performance tokens.
Selection is based on the performance of traders. Diabolo.io sets up challenges (which also pay out to winners) to identify trading talent, and also offers demo account trading so that the platform can analyse the statistics. Finally, the Diabolo.io team offers a trade log that can be analysed to check the candidate trader’s eligibility for copy trading.
I know it’s a lot of information, but the project is ambitious. To clarify some points, who is better placed than the CEO of the project? TheCoinTribune team and I warmly thank Julien Onnen, an entrepreneur since 2004 and CEO of Diabolo.io, who has agreed to free up some time to explain the finer points and clarify some of its issues.
DCASH is Diabolo’s fundamental copy trading utility token. Although the platform is currently online, DCASH is not yet available and is currently being replaced by credits.
The purpose of DCASH is to decentralise and break the dependence on banking institutions. For Diabolo.io, DCASH symbolises the entry into phase 2.0 of copy trading, where we no longer are a solution that you link an account to, but one that tokenises performance. Looking forward, we aim to raise the value of DCASH and make it a real speculative asset.
DCASH is scarce. Diabolo.io is buying 20% of the turnover in DCASH in order to burn them, until 50% of DCASH’s total supply is burned. Moreover, DCASH wants to be secure and reliable, so it is backed by a reserve fund, the Diabolo FUND CARE, where Diabolo.io places 2% of its monthly turnover.
Diabolo.io rewards and optimises performance. DCASH’s throughput is based on a calculation involving several clearly identifiable variables. At the end of the analysis, we have a clear and transparent performance figure that serves as a reliable basis for rewarding with DCASH. Competition is often based on monthly payments. We are particularly far from a model that is disconnected from the result and performance. In addition, there is no cost for copy trading: no deposit fees, no management fees and no withdrawal fees.
Image from the Diabolo.io white paper.
Good to know: The project completed its pre-sale and hit its soft cap on 4th October 2020, with 150 holders and $200,000 raised.
We are aiming for a soft cap of $200,000, which is largely achieved. We also set a hard cap of $2,000,000. In addition to this amount, all the money collected will go in addition to bonuses to strengthen the management fund. Regarding the value of DCASH, the token will be issued for $0.15 during the ICO (which will take place soon).
Diabolo.io is legally regulated by the French financial regulator, the AMF. We are working towards being certified as a digital asset provider (the French PSAN). We really have a desire for transparency and it is therefore important for us that this transparency is as tangible for users as it is for institutions. On the other hand, as long as a virtual currency such as DCASH is used, Diabolo.io is not a management fund in the eyes of current regulations. In addition, as far as users are concerned, there is still the huge task of democratisation and education about the blockchain. To effectively and transparently mirror management funds, users need to understand the challenges of decentralisation and understand what our smart contracts are.
It’s a real win-win. I would even say that traders are bigger winners than we are. However, we are keen on validating the profiles of traders with the Diabolo.io algorithm copy-trading algorithm. There is a real selection process, and we hope to attract the best of the best by holding regular competitions, for example.
The project is not fully decentralised because the first step is to maintain governance in order to ensure the quality of its development. However, we would like to gradually replace our human decision-making with algorithms. With regard to DeFi more generally, the team is considering listing DCASH on UniSwap in addition to some other centralised exchanges.
We are fortunate to have a very strong team. Antoine Legay is a well-known trader who brings a lot of visibility to the project. Samuel, our developer, has been full-time for a few years and specialises in data analysis and trading algorithms. Thomas, our business developer, has unlocked extremely interesting partnerships that unfortunately we cannot yet reveal. Overall, the team performs very well.
More information on the Diabolo.io team can be found here.
1. Its French team has great potential and real experience in the world of trading. Having a trader CEO means that the project focuses on transparency, which really matters in this sector.
2. Its DCASH token makes the concepts of risk management and trading performance easy and accessible.
3. No fixed fees. You only pay for performance, which helps to reassure users and provides an incentive for the platform to find the best traders possible. Everyone wins together, and only together!
It is clear that Diabolo.io is a project that could potentially shake up the social trading ecosystem of Bitcoin and cryptocurrency – and even trading as a whole. Its future evolution will be intrinsically linked to changes in trading best practice, as well as legislative changes. In any case, we will always share with you the latest news about this project, which turns the tables on trading bots and much more. To try out Diabolo.io’s Social Trading, all you have to do is register on the platform.
Just your average global millennial embracing, and interested in, the future of money and finance. Excited by blockchain tech as well as fintech but have a special passion for DeFi and Yield Farming, what will this technological disruption bring next?
Les propos et opinions exprimés dans cet article n'engagent que leur auteur, et ne doivent pas être considérés comme des conseils en investissement. Effectuez vos propres recherches avant toute décision d'investissement.
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