Crystal Token: ICO Review
Crystal Token is a multi-purpose utility token. Based on the Ethereum blockchain, it allows users to earn passive income through Virtual Staking. This gives real functionality to staked tokens as they are used for automated trading, which generates revenue for the user. Crystal Token also offer games to engage their users: their latest addition is a slot machine which can be played with CYL tokens.
Virtual Staking ConceptVirtual Staking allows users to invest their ERC20 Crystal Tokens (CYL) in multi-currency automated trading operations powered by their Artificial Intelligence (AI) driven trading bot. The proceeds from this trading are returned to the user in terms of daily interests. Users receive the benefits of AI-based trading on their behalf and do not have to pay for the service.
The Virtual Staking is based on two tokens. Firstly, the main CYL token, which will be sold during the ICO. Secondly, the VCYL which is a virtual token. It will be used to pay daily interest and referral bonuses. VCYL tokens have a fixed value of 0.001 ETH and will be exchangeable for CYL tokens at the current market price. The main plans (full benefits) involve tokens being staked for at least 120 days, but shorter term plans are available.
The interest that is paid out in VCYL for users who have staked some of their tokens depend on the revenue generated by Crystal Token’s trading operations. The more revenue they receive, the more interest is given out as rewards. The interest is paid out daily until the end date of a contract is reached, when the original staked tokens are returned.
Users can also profit from referring new users. To do this, they need to provide the new user with their affiliate link or the new user can simply specify their username when they sign up. The referral bonuses are 10% of the amount of each Virtual Staking contract opened by the new user. They are paid in VCYL and can only be used to open a new Virtual Staking contract in the platform.
The Pure Reinvest function puts the interest earned back into the staked tokens. Rather than withdrawing it each day and making a new contract, it increases the user’s staked VCYL tokens. This allows interest to be earned on the interest, with a maximum limit of 2% daily, in order to guarantee the sustainability of the investment.
Innovative Use of AIAI will be used to predict the cryptocurrency market in order to make more profitable trades. It will use artificial neural networks, tree-based and time series forecasting models. It will also analyze cryptocurrency news and will use sentiment analysis to understand how the news is likely to affect the price. If the news is not available, it will use other sources for analysis.
Considering that the cryptocurrency market is volatile and difficult to predict, Crystal Token will use a consensus approach via ensemble learning. Ensemble learning involves using several algorithms to check how effective the AI model is and make improvements when necessary.
Crystal Token will use volume analysis to detect market trends. This technique is used to notice sudden changes in the market, particularly between Bitcoin and Altcoins. This helps the model to observe trends, predict future behavior and make more profitable trades.
Trading Bot StrategyThe core version of the trading bot employs an essential strategy called trailing stop. This sets a stop loss that rises as the price rises but then stops when it starts falling. This means that gains are maximized and losses are kept to a minimum. It will also use a variety of indicators to choose which coins are worth targeting and to develop trading strategies. Sentiment analysis will be used to understand which direction the market might be moving for certain coins and will back up trading decisions.
One of the main techniques the trading bot will use is to identify which cryptocurrencies have been hit the hardest, look for signs of a reversal and use sentiment analysis to confirm the positive news. This allows it to maximize potential upside and increase profits for the user who has staked their Crystal Tokens. AI will be used to constantly revise these strategies to make them more effective.
Besides passive trading within the Virtual Staking paradigm, Crystal Token will develop automated trading services, such as signal-based trading. Token holders will be able to configure their external exchanges’ API keys on the dashboard and benefit from automated trades based on market predictions generated by the platform.
Crystal Tokens ICO DetailsThe max supply is 28 million, the team supply is six million and the ICO supply is seven million. There are four stages to the ICO, which is already in progress. All CYL tokens will be locked until the end of the ICO. Each day, between 5,000 and 50,000 tokens will be made available for sale and any unsold tokens will be burnt. Tokens can be bought with either Bitcoin (BTC) or Ether (ETH).
The TeamTheir team is comprised of six individuals who have chosen to be anonymous due to legislative uncertainties. James has been active for more than 15 years in the IT industry as a developer and consultant for several companies. Luke has strong experience in the analysis of data for the automated learning of predictive models. Mark is an expert in blockchain and cryptocurrency technologies. Each team member brings different strengths to the table which will help to make Crystal Token more effective.
ConclusionCrystal Token is an innovative token that allows users to receive passive income through Virtual Staking. It allows users to benefit from AI based trading simply by staking their tokens or via signal-based trading. The use of the Pure Reinvest function allows the proceeds to be reinvested creating extra interest. This token clearly stands out from its competitors and the team has the experience to make it a success. For more information, check out the Crystal Token website.