SPECTRE aims to remove the middleman for trading in the binary options and foreign exchange industries.
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What does the company/project do?
SPECTRE aims to bring transparency and remove the middleman for trading in the binary options and foreign exchange (FX) industries.
SPECTRE is building a trading platform that enables users to bet on the direction of financial assets using cryptocurrencies. It is similar to a gambling platform except the underlying assets are traditional asset classes like FX and options.
The traditional digital options and FX trading industry are riddled with fraud. For example, brokers would manipulate prices and even refuse or delay client withdrawals. By utilizing blockchain technology, conflict of interest can be reduced because the middleman is removed.
A key feature of SPECTRE is the utilization of a liquidity pool. This way, users can trade even when there is no counterparty taking up the other side of the trade. This way, liquidity can be guaranteed.
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What are the tokens used for and how can token holders make money?
There are two types of tokens being offered in the token sale: dividend token and utility token. ICO participants need to specify which token(s) to get and in what proportion.
Since the buyback/dividend for both tokens are tied to the usage and trading volume of the platform, the more usage and trading volume the SPECTRE platform has, the more valuable the tokens should be.
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Opportunities
– Financial trading is a large market and ripe for disruption. If Spectre gains traction, the potential is substantial.
– SPECTRE allows other dApps to use its platform for trades, further increasing the project’s reach.
– The use of blockchain makes sense for the project as it automates many processes and makes the entire experience more efficient.
– The company has a lot of information about the project from the white paper and other documents, indicating that the team has put in a lot of thoughts into the business model and execution.
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Concerns
– The two tier token system can be confusing to some participants and future token holders – we believe it would be a cleaner and simpler structure if only the utility tokens are issued.
– The project operates in a heavily regulated industry of financial trading. SPECTRE may need to get the necessary licenses/regulatory approvals in each country before allowing citizens of those countries to trade. Those approvals take time and SPECTRE may not be able to accomplish the milestone within the timeline that the roadmap prescribes (Q2-4 2018).
– Users are still betting against the house in the sense that SPECTRE’s management are directly incentivized from the growth in liquidity pool. It is in the SPECTRE’s interest for users to lose money (in non peer-to-peer trades) so that it can grow its liquidity pool to generate more trading and receive year-end dividends. Therefore, the conflict of interest is not completely removed in SPECTRE’s model.
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Disclaimer
The information in this video is for educational purposes only and is not investment advice. Please do your own research before making any investment decisions. Cryptocurrency investments are volatile and high risk in nature. Don’t invest more than what you can afford to lose. Crush Crypto makes no representations, warranties, or assurances as to the accuracy, currency or completeness of the content contained in this video or any sites linked to or from this video.
