CryptoBulls Coin WHITEPAPER Version 1.1 – February 11, 2018
DISCLAIMER Important notice
PLEASE READ THIS ENTIRE SECTION AND DO NOT TAKE ANY ACTIONS UNTIL YOU FINISH IT. THIS WHITE PAPER IS A SUMMARY OF CRYPTOBULLSCOIN BUSINESS MODEL, TECHNOLOGY, AND BRIEF INTRODUCTION TO CRYPTOBULLSCOIN FUNDRAISER’S PRINCIPLES. CRYPTOBULLSCOIN FUNDRAISER IS CONSIDERED TO BE A REWARD BASED CROWDFUNDING CAMPAIGN. DETAILED TERMS AND CONDITIONS OF THE FUNDRAISER WILL BE RELEASED IN THE END OF APRIL AND PUBLISHED ON CRYPTOBULLSCOIN WEBPAGE. IF YOU ARE IN ANY DOUBT AS TO THE ACTION YOU SHOULD TAKE, YOU SHOULD CONSULT YOUR LEGAL, FINANCIAL, TAX OR OTHER PROFESSIONAL ADVISOR(S) AND IMMEDIATELY NAVIGATE AWAY FROM CRYPTOBULLSCOIN WEBSITE AND DO NOT CONTRIBUTE TO THE DEVELOPMENT OF CRYPTOBULLSCOIN. This whitepaper, information provided on CryptoBullsCoin web page and any fundraiser’s terms and conditions published by CryptoBullsCoin do not constitute a prospectus or offer document of any sort and is not intended to constitute an offer of securities or a solicitation for investment in securities in any jurisdiction. The tokens to be issued by CryptoBullsCoin are not intended to constitute securities and/or collective investment units in any jurisdiction. If you decide to contribute to CryptoBullsCoin development, please note that your contribution to CryptoBullsCoin does not involve the exchange of Cryptocurrencies for any form of securities, investment units and/or form of ordinary shares in CryptoBullsCoin or any other company, CryptoBullsCoin token holder does not receive any form of dividend or other revenue right that is guaranteed or it participates in profit sharing scheme. The whitepaper, information provided on CryptoBullsCoin web page and any fundraiser’s terms and conditions published by CryptoBullsCoin any part thereof and any copy thereof must not be taken or transmitted to any country where distribution or dissemination of these documents/information is prohibited or restricted. No regulatory authority has examined or approved of any of the information set out in the whitepaper. No such action has been or will be taken under the laws, regulatory requirements or rules of any jurisdiction.
The publication, distribution or dissemination of the whitepaper do not imply that the applicable laws, regulatory requirements or rules have been complied with. To the maximum extent permitted by the applicable laws, regulations and rules, CryptoBullsCoin, its founders, team members and any third party involved in CryptoBullsCoin project shall not be liable for any indirect, special, incidental, consequential or other losses of any kind, in short, contract or otherwise (including but not limited to loss of revenue, income or profits, and loss of use or data), arising out of or in connection with any acceptance of or reliance on this whitepaper or any part thereof and/or information provided on CryptoBullsCoin web page by you.
All statements contained in this whitepaper and CryptoBullsCoin webpage, statements made in press releases or in any place accessible by the public and oral statements that may be made by CryptoBullsCoin, its founders, team members and any third party involved in CryptoBullsCoin project and acting on behalf of CryptoBullsCoin, that are not statements of historical fact, constitute “forward-looking statements�. All statements regarding CryptoBullsCoin, financial position, business strategies, plans and prospects and the future prospects of the industry which CryptoBullsCoin is in are forward-looking statements. Neither CryptoBullsCoin, its founders, team members, any third party involved in CryptoBullsCoin project nor any other person represents warrants and/or undertakes that the actual future results, performance or achievements of CryptoBullsCoin will be as discussed in these forward-looking statements. This whitepaper includes market and industry information and forecasts that have been obtained from internal surveys, reports and studies, where appropriate, as well as market research, publicly available information and industry publications. Such surveys, reports, studies, market research, publicly available information and publications generally state that the information that they contain has the from sources believed to be reliable, but there can be no assurance as to the accuracy or completeness of such included information. No information in this whitepaper should be considered to be business, legal, and financial or tax advice regarding contribution to the development of CryptoBullsCoin. You should be aware that you may be required to bear the financial risk of any obtained CryptoBullsCoin tokens for an indefinite period of time. CryptoBullsCoin does not make or purport to make, and hereby disclaims, any representation, warranty or undertaking in any form whatsoever to any entity or person, including any representation, warranty or undertaking in relation to the truth, accuracy, and completeness of any of the information set out in this whitepaper.
The information contained on the CryptoBullsCoin Network web page and whitepaper are of descriptive nature only, are not binding and do – unless explicitly referred to in fundraiser’s terms and conditions. No part of this whitepaper is to be reproduced, distributed or disseminated without including this section “Important Notice”.
CryptoBulls COIN Trade Exchange Network | CBX
Cryptocurrency trading platform powered by blockchain technology
Version 1.1 Date February 11, 2018 Contact info@cryptobullscoin.com Web https://cryptobullscoin.com
Contents 1.
CRYPTOBULLS COIN SUMMARY .................................................................................................. 7
2.
INTRODUCTION .............................................................................................................................. 11 2.1
What is Blockchain? .................................................................................................................... 11
2.2
Economical Aspects..................................................................................................................... 12
2.3
Cryptocurrency Market Analysis ................................................................................................. 15
2.4
Indian Market Analysis ................................................................................................................ 17
2.5
Functional & Technical Description ............................................................................................ 20
3.
KEY VALUE PROPOSITIONS ......................................................................................................... 21
4.
Cryptobulls COIN Business Case .............................................................................................. 22 4.1
Cryptobulls status ....................................................................................................................... 23
4.2
Cryptobulls COIN Token Model................................................................................................... 24
4.3
Cryptobulls COIN Token Sale ...................................................................................................... 25
4.4
Cryptobulls COIN Token Fund Allocation .................................................................................... 26
4.5
Blockchain Function .................................................................................................................... 26
4.6
Cryptobulls COIN use .................................................................................................................. 27
4.7
Cryptobulls COIN Sale Model ...................................................................................................... 27
4.8
Cryptobulls COIN Growth Projection .......................................................................................... 29
4.9
CBX – The next generation token ............................................................................................... 29
4.10
Token Sale ................................................................................................................................... 30
5.
PROCESS .......................................................................................................................................... 31
6.
THE PRODUCT ................................................................................................................................. 32
7.
RISKS ................................................................................................................................................. 34
8.
FINANCIAL SPECIALISTS .............................................................................................................. 35
9.
CLOSER LOOK ................................................................................................................................. 35
10.
CRYPTOCURRENCY ACCOUNTS ............................................................................................ 36
11.
MESSAGES AND TRANSACTIONS .......................................................................................... 37
12.
CODE EXECUTION ...................................................................................................................... 38
13.
FINAL WORDS ............................................................................................................................. 39
1.
CRYPTOBULLS COIN SUMMARY
CryptoBulls is a blockchain-based Crypto Currency trading platform Cryptobulls is an exchanging stage that amasses liquidity from all major cryptographic money trades and totally robotizes a trade arbitrage process for the partners. CryptoBulls COIN enables Trading Exchange developers to raise capital by issuing their own trade exchange tokens. These tokens represent exchange currency they commit to produce and deliver. Trade exchange tokenization standardizes, simplifies and opens globally currently existing investment ecosystem. As a result producers can trade directly with the buyers (consumers and investors) and raise capital by selling upfront, at below market rates. Energy tokenization ensures liquidity and extends access to capital. To optimize the financing cycle and open access to capital, CryptoBulls COIN enables exchange tokenization. Tokenized exchange value represents a contracting mechanism between an exchange producer and buyer. CBX token holders will have priority access to participate in auctions for purchasing tokenized exchange trade once the Cryptocurrency Exchange Platform is connected to the platform.
BitCoin (BTC) allocation will depend on the number of CBX tokens held by the participant. CBX token holders are rewarded by BitCoin equivalent to the value of the CBX holding based upon the transaction fees generated at the Cryptobulls Exchange Platform. CBX token holders may use or sell this earned bitcoin.
Trading on Cryptobulls Exchange
Trade Verification by Network
Accumulation of Transaction Fees
2.5% CBX
Robert holds 2.5% of CBX
2.5% BTC (of the TRX Fees)
Cryptobulls comes to the market at crucial time. Due to various economic factors and increasing demand of decentralized currency in the form of a digital asset, Cryptobulls with its high security standards is set to become one of the most promising exchanges of the ecosystem.
Launching with BitCoin, Ethereum & LiteCoin – Cryptobulls is one of the first exchanges to bring the most rewarding coins. Crytpobulls is set for listing all the major ICOs around the globe in order to enable users to trade against the most sought after currencies around the globe. The Cryptobulls platform is ready to be launched in Q1 2018. Token holders shall be the early users of the platform. We are working on the launch of our pilot project with major exchanges in collaboration. Current partnerships with the Technology Houses and Marketing Agencies allow Cryptobulls to be operational within 1 month after the main token sale. These partnerships will bring a pipeline of projects to be financed for the first 2 years of Cryptobulls operations. Having set for launch of Gaming & Entertainment projects, Cryptobulls is expanding in different continents. A noteworthy objective for doing an ICO is to make and build up a stage for proficient brokers that permits to exchange crypto assets from various trades by means of a single interface, to associate proficient devices (like MT4) giving a high caliber benefit with low a commission rate. There are two key highlights of the stage: Exchanging on a few noteworthy trades in a solitary window and robotization of interexchange intervention process procedures, which enables the stage clients to make benefit by utilizing a store to dispense with non-efficiencies of the market, i.e. arbitrage circumstances.
CRYPTOBULLS is raising income from: • Commissions of benefit from arbitrage systems – up to half of income from an effectively executed arbitrage chain • Commissions of execution of requests at various trades while general exchanging operations Utility token of the stage permits to: • Access premium administrations of the stage (counting actualizing arbitrage procedures on huge stores) and a lower commission rate for exchanging operations • Pay for commissions and chargeable administrations of the stage with a major rebate • Participate in stage improvement for each financial specialist: voting in favor of posting new tokens and different issues vital for the group (in a more drawn out run, when the stage will wind up noticeably an integrator, as well as will give an free trade system for proficient members) Right now Cryptobulls is a working stage (a MVP) with an arrangement of specialized devices for exchanging on various trades in a solitary window mode and an entomb trade arbitrage that is cooperating with a few cryptographic money trades collecting in stores. Specialized engineering and the effectiveness of assertion system were tried over the 4-month time span by the group with their own particular stores. Since we esteem to deal with blockchain and digital currency and their goal to give greatest straightforwardness to financial specialists. Upon finish the ICO, Cryptobulls wants to open delegate workplaces in various wards to permit brokers from various nations look after exchanging operations lawfully in consistence with against illegal tax avoidance controls and other controls identified with digital currency turnover.
2.
INTRODUCTION
Cryptobulls was established to change the way the trading exchange works and rewards the customers with the best rates. The Cryptobulls team has been in the market for several years during which time it became obvious that we are lagging behind technology driven exchange adoption. This is not for lack of a desire to live a cleaner life, and improve the world for future generations. It is due to current market bottlenecks, which slows development of the sources. There are too many intermediary players operating to dilute the bullish margins. Ultimately, these costs go directly to consumers who pay for it all.
2.1
What is Blockchain?
A Blockchain is a series of records known as blocks. Such blocks are continuously growing records that are combined and secured using cryptographic technology. All the blocks in a blockchain inherit: 1. A hash pointer as equal as a connection to its previous block: A hash function is a mathematical algorithm that maps the data of an inconsistent size to a string (bit string) of a rigid size; known as a hash function which is constructed to be a one way function, which makes it impossible to alter or invert the transactions. 2. A Time Stamp: The Time Stamp keeps track of the creation time of a block. 3. Transaction Data: All data related to the transaction. Basically, Blockchain Technology is a way for one user of the internet to transfer an exclusive fragment of digital asset to another internet user in such a way which is assured to be safe and protected; every person in the world knows that the transfer has taken place, and nobody can challenge the authority of the transfer. Blockchains are the most secured by construction and can be stated as a distributed computing system with High Byzantine Fault Tolerance: That means it tolerates the class of failures known as Byzantine Generals. Therefore Decentralized Harmony is therefore achieved with the Blockchain Technology. As a result the blockchains are most convenient for the recording of activities such as Medical data, Events, Government data, Identity Management, Transaction Processing, Food and other items such as Traceability etc.
The first Distributed Blockchain that was conceptualized and implemented by Satoshi Nakamoto back in 2008; it serves as a core component of the digital currency Bitcoin (BTC).
2.2
Economical Aspects
A number of internet based digital currency platforms based on decentralized public ledger have come into the picture since the inception of Bitcoin in 2008. An essential aspect of these public ledger platforms is an incentive system that brings out efforts from a distributed global workforce to authenticate and record transactions on the public ledger and a governance system for the platform. The mechanics of being able to transfer an entry from to person to another are based on advances in cryptology that use open-architecture algorithms to convert one string of data into another. Although the formulas by which the output is calculated are totally open and public, it is essentially infeasible to do the operation in reverse. Cryptocurrencies has two potential advantages over credit cards and other payment method for providing such liquidity services. The supporting network only needs to verify that the private code is valid, which is cheaper than verifying the rightful owner of a credit card or a cheque slip. With a conventional credit card, pay slip etc. the merchant needs to pay the card company or the bank a significant fee for the transaction which in an economic sense results from that high cost of verifying everybody‘s compliance. This is the reason why many merchants are embracing Cryptocurrencies. Your Cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Ripple etc. get deposited into your Exchange Account. The Exchange helps to convert the Cryptocurrencies into Local Currency into the bank account of the users and vice-versa. The following charts show the rise in price of Cryptocurrencies over the last few years:
Bitcoin Market Price (USD)
INTERDAY
These public ledger platforms generally have the following features. Internet-based: Cryptocurrencies rely on the Internet as the physical network for sending and receiving currency. That is different from most payment platforms, such as Visa, which typically rely on private secure communication networks. Public Ledger Protocol: Cryptocurrencies have a protocol for sending, receiving and recording value. The protocol is based on a public ledger that uses cryptographic methods to secure the values that are sent
and received and provides a public record of transactions. The operation of the public ledger is decentralized. A collective pool of Individuals verifies and record transactions. The valid public ledger is essentially a consensus among these individuals. This public ledger is called the blockchain and is widely recognized as the key disruptive innovation. Container for Value: There is container that is used to carry value on the public ledger. The container is used to send and receive value. The container is usually called a “coin” or “token” which suggests that it is intended to be a currency or store of value. Incentive Scheme for Labor Force: There is an incentive scheme for the effort and contribution of resources for people to conduct various record-keeping and verification activities to maintain the public ledger. At this stage, the public-ledgers for digital currencies are intensive in labor and computer processing time. The incentive scheme provides a reward to people for providing labor, computing power, and other resources. Open Source Licensing Model: There is a licensing model to enable people to make changes to the software for the platform. Typically, public ledger currency platforms use one of the standard open-source licenses so that people can use the software underlying the public ledger and make changes to it. Platform Governance System: There is a governance system to determine key operating principles for the platform, to adopt changes to the protocol and other add features to the software, and to drive the evolution of the platform.
2.3
Cryptocurrency Market Analysis
Currently, the customer demands are changing and are looking to have a less time consuming financial services to make their life easier and effortless. Due to this, people are moving to online transactions such as Cryptocurrency Transactions as a form of payment. Cryptocurrencies are virtual currencies that can be used by anyone across the world for various purchases. It is a medium of exchange using cryptography technology, so as to secure the transactions and to control the creation of additional units of the currency to stop inflation. Cryptocurrencies are the future revenue stream in the digital financial world. Cryptocurrency addresses are established by using public and private keys. They are politically neutral as they are not bound by any rules or regulations of any specific government, exchange rates, interest rates, and country to country transaction fee, which makes international transactions and remittances fastest and cheapest compared to any other form of payment. Cryptocurrency are said to be more secure than conventional financial instruments, eliminating the chances of identity theft and other issues that currently plague fiat based electronic payment infrastructure. Cryptocurrency Market: Drivers and Challenges Cryptocurrencies provide proper security, authentication, and ease of use allowing the cryptocurrency holder to send exactly what they wish without any other identification information which is one of the major hurdles of the market. Apart from this the increasing online transactions over mobile phones, the cryptocurrency holder can expect less transaction fees and faster transactions. Changing consumer and business landscapes have led the demand for the market growth. Other factor for the rising online business market is the use of mobile based wallet. The majority of the population of the world especially in India is still unaware of the benefits of digital currency. Lack of widespread adoption and capacity limits, which are currently being addressed by micro-payment channels, are hindering the growth of the market in India. Currently only 1.3% of people in India know about Cryptocurrencies and most of them are only aware of Bitcoin.
Cryptocurrency Market: Segmentation The Cryptocurrency market can be segmented on the basis of end-user; such end users may be sectors such as retail, media & entertainment, gaming, healthcare, travel & tourism, transportation & logistics sector and education. On the basis of a worldwide region, the cryptocurrency market is believed to be decentralized, that means it covers all the areas of the world connected to the internet. Cryptocurrency Market: Regional Outlook North America and Europe market is in advanced stage of adoption of Cryptocurrency. However, the Asia Pacific and MEA are expected to the emerging regions. In the places like India and Africa, the popularity and the usage of various Cryptocurrencies are expected to increase gradually in the coming years.
2.4
Indian Market Analysis
How Blockchain can change Indian Financial Markets The blockchain is decade old technology which holds an important place in many countries throughout the world. Blockchain is a distributed ledger technology that records financial transactions or any kind of crucial data, in a protected, transparent, observable, and in a wellorganized way. There is definitely a need to adapt blockchain in a broader sense, as it is steadily marching towards utilization and feasibility in various sectors and industries. Here are a few ways by which blockchain can change the financial markets of India: 1. Blockchain frequently finds alliance with Cryptocurrencies like Bitcoin. Though, the idea of distributed ledger can be effortlessly simulated in numerous other industries such as Government, Insurance, Real-estate, Brokerage, Rent and Leasing etc. Each transaction has a core asset, i.e. piece of land, stocks, or a commodity. By using blockchain technology, we can make digital blocks that take information about its ownership in an encrypted system. Nobody but the authorized parties can alter or fake the information on the block, thus, making the transactions completely safe and reliable. As a result, high amounts of corporate transactions can profit from the blockchain. As the technology becomes more established, it can be slowly but surely be adapted to the retail environment. 2. Forged resources are a critical challenge in the Indian state of affairs. The loss due to a faulty documentation can be indescribable. At the present, for any transaction, a settlement is required to ensure that the transaction is authentic. Different record keeping mechanisms such as scattered records and multi-layered approvals etc make it complicated and costly to confirm the real ownership of any asset. Blockchain makes all this easy since all the information is readily obtainable in the public ledger and can be confirmed anytime by anyone. 3. Implementing the blockchain can reduce the IT infrastructure as well. There have been reports that there will be a centrally regulated blockchain that will eliminate the current need for mediators and result in cheaper transaction cost and time. Furthermore, there will be a large amount of transparency in the ecosystem.
No more centralization Blockchain helps to get rid of the need for a central regulator in the case of banking, which also allows smart contracts to be imposed so that banks can maintain to track and disburse loans and shipments consequently. As far as the companies are concerned, it allows the shareholders an open platform to cast their votes from any place across the world as their terminal becomes a safe and sound voting machine. In addition to all this, for Governments, blockchain can be an innovative way of defining authority, since each one can stock up land records and titles online, eradicating the cases of fraud. Along with RBI, which has presented a paper on the capability and scope of the blockchain technology, the State bank of India has also became a part of the blockchain team, thus creating a system called the Bankchain in alliance with Microsoft, IBM, KPMG, Skylark and 10 commercial banks, The chain of banks is on a path to enable more usage and implementation of blockchain technology for the Indian financial sector. Blockchain technology is also predicted to decrease the transaction period. It is believed to be helpful for any sector that has intricate and huge scale back-office procedure that may include phone calls, emails and paperwork etc. To cut a long story short, blockchain technology can lay the groundwork for the way new business models operate by transforming the current intricate, costly systems and transactional procedure for several industries. This requires more association and co-operation between the industries and their respective regulators. Taking indication from global developments, the blockchain has started spreading its wings in India. While blockchain technology may be in early stages of development and have the need of considerable development and market interest, the path has been set for a major digital revolution, in the financial market of India.
Cryptobulls Platform Cryptobulls is a cryptographic exchange that plans to bring Bitcoin, Ethereum, Litecoin to the masses. Cryptobulls will have the Cryptobulls Wallet based on Blockchain and the Cryptobulls Exchange. The Cryptobulls wallet will be a user-friendly platform, which shall empower the user to have secure transactions, through which one can trade in digital currencies and hold the private keys of the crypto money residing on the blockchain nodes. The Cryptobulls Wallet will lead to a significant transformation to the current concept, structure and mechanism of the crypto wallets. The Cryptobulls Wallet will be imbibed with features like: 1. Crytpobulls Wallet will be an Open Source Wallet secured with Private & Public Key 2. It can be accessed on Mobile platforms like on iPhone, Android devices as well as on the Desktop by any Web browser 3. Cryptobulls Wallet will be decentralized and thus all of the user‘s information will be safe and protected on our servers, therefore, Cryptobulls will provide a scam free Wallet platform 4. Cryptobulls Wallet will support Cryptocurrencies like Bitcoins, Litecoin, Ethereum and various other coins shall be listed in future 5. Cryptobulls will be India‘s first wallet to introduce Litecoin in the market 6. Low transaction fees: The merchants and traders can accept the payments on Cryptobulls from any place with very little amount of transaction fees 7. Saving Securely: Cryptobulls Wallet users can safeguard their assets in the form of digital currencies, and over a time, can even earn a considerable amount of profit for it 8. Global Approach: Cryptobulls Wallet allows you to accept and transfer around the globe, and exchange with the local currencies 9. Personal Control: The Cryptobulls Wallet permits the user to have full access over their private keys, thus making it a trustworthy and user-friendly wallet 10. Cryptobulls Exchange shall allow users to buy, sell, send, receive, and manage crypto contributions As a result of the recent trends of Cryptocurrencies, Cryptobulls will permit the users to trade in major Cryptocurrencies like Bitcoin, Ethereum, Litecoin. Initially, the exchange will be based on three major and popular Cryptocurrencies which are Bitcoin, Litecoin and Ethereum. Further, to enhance our services, Cryptobulls shall list other Cryptocurrencies.
2.5
Functional & Technical Description
Cryptobulls Exchange Architecture The high level modular design on the Cryptobulls platform is shown below and explained afterwards.
Payment Gateway
Bank/Financial Institution
USER INTERFACE Trading Engine Browser App/Terminal
Crypto Blockchain Network Bitcoin Litecoin
Ethereum
Secure Wallets
Blockchain Networks
APIs for external integrations
Connectivity Layer
Mobile Apps
Matching Engine Market Reporting Data External Services
3.
KEY VALUE PROPOSITIONS
[1] Cryptobulls is a stage integrator of trades that takes into account exchanging by means of single interface at various trades, including organization of MT4 and other programming for proficient dealers [2] Cryptobulls is a chance to gain on acknowledgment of arbitrage systems with no chance by righteousness of the arrangement of specialized arrangements coordinated into the stage [3] Cryptobulls is a chance to purchase any advantage at most good conversion scale by righteousness of sending a specialized calculation of fractional buy at different trades and utilizing the chain of exchanges [4] Cryptobulls gives less commission rates to proficient merchants with a top of the line administration and specialized support of exchanging operations [5] Cryptobulls is an aggregator of liquidity and an instrument for bringing down unpredictability of the crypto market, which in the more drawn out run will disentangle the joining of crypto assets into the group and make the market more agreeable for institutional financial specialists, i.e. more develop
4.
Cryptobulls COIN Business Case
Cryptobulls COIN will begin ecosystem creation for Trading Exchange platform in Canada, due to unique regulatory framework there. The Canadian community enjoys a competitive market, providing similar regulation across all the member states. This is the most important condition for trade tokenization on the scale necessary for trade tokenization beyond borders. Core components of Cryptobulls growth are customer acquisition, exchange utilization and market liquidity. The platform will grow through by providing greater transparency and simplicity to the market and delivering value unavailable today, due to market inefficiencies. With focus on growth, it is paramount to create the best experience for the Cryptobulls platform user. The Cryptobulls team is engaging project developers in the field, developing market price based projects with a professional team to be expanded upon entering new markets. Our sales teams work with high volume corporate and private consumers to provide them with outstanding service. Cryptobulls COIN Business Case: 1. Cryptobulls Exchange shall be launched in Q1 2018 with world’s major Cryptocurrencies 2. Total of 12 Million Cryptobulls COIN shall be put up in the market 3. Cryptobulls COIN shall be available for pre booking from February 01, 2018 until February 10, 2018 4. User booking Cryptobulls COIN shall be holding up a percentage of the total Cryptobulls COIN Market Cap 5. User shall be awarded with the holding percentage of BTCs in their BTC Wallet for every transaction that happens over Cryptobulls Exchange Case Example: (a) Robert purchases 3,00,000 CBX Tokens which accounts for 2.5% of the Market CAP Holding of the CBX Token (b) Cryptobulls Exchange shall be made open to public in Q1 2018 (c) Close to 1 Million public users shall be transacting on Cryptobulls Exchange in Q2 2018 (d) Average quantum of the transaction fees that shall be accumulated by the transaction would run into 20,000 BTCs (e) Robert shall gain 2.5% of the transaction fees so accumulated which accounts for 500 BTCs
4.1
Cryptobulls status
Q4 2017 Q1 2018 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019
The birth of revolutionary idea of highly secured Cryptobulls Trading Exchange Platform for Cryptocurrencies Development & Release of the Cryptobulls Trading Exchange Platform Cryptobulls Coin Token Sale, Early access to Exchange for token holders Token Emission, Cryptobulls Coin Listing, API Integration. Release of Cryptobulls Wallet Beta release of Cryptobulls Engine Marketplace with Cryptobulls SDK integrated as payment method Release of CryptoCric platform with early access to token holders for player & event betting Release of CryptoCash platform with early access to token holders for casino gaming
Currently the team is focused on: • Launching Cryptobulls pilot project and tokenizing the rewards earned against the TRX Fees. We will issue 12 Million Cryptobulls COIN and test our platform on world markets • Establishing the exchange and listing of Cryptobulls COIN on Cryptobulls & other exchanges • Development of a blockchain based Cryptobulls Wallet & API for external exchange integration • Expanding the utility of the Cryptobulls COIN for other ventures • Expanding to neighboring countries in 2019
4.2
Cryptobulls COIN Token Model
Name Symbol Token Sale Date Token Sale End Market CAP Currencies Accepted Bonus Token Standard Token Feature Token Exchange Rate Planned listing on exchanges
CryptoBulls Coin CBX February 01, 2018 March 15, 2018 60% BitCoin (BTC), USD Early booking bonus of 66% during Pre-ICO upto February 10, 2018 (offline mode) Ethereum, ERC-20 Utility Token 1 CBX = 0.0003 BTC = 3 USD 1-15 March 2018
4.3
Cryptobulls COIN Token Sale 60% Sold Out 10% 10% 15% 15% 15% 10%
Token Sale (a) Corporate Booking (upto Feb 10) @ 1.00 USD* (b) CBX Token Sale (Feb 11 – Feb 25) @ 1.75 USD (c) CBX Token Sale (Feb 26 – Mar 05) @ 2.00 USD (d) CBX Token Sale (Mar 06 – Mar 15) @ 2.75 USD Management & Founders Long-Term Reserve Advisors & Partnerships
Token Sale Management & Founders Long Term Reserve Advisors & Partnerships
4.4
Cryptobulls COIN Token Fund Allocation
Development Buy Back Program Marketing & Business Operation Contingency Legal
30% 30% 20% 10% 5% 5%
Development Buyback Program Marketing & Business Operation Contingency Legal
4.5
Blockchain Function
Relational databases are adequate in many applications and situations. However, sustainability and scalability are limited with these databases. From the perspective of sector transformation in trading and digital infrastructure creation, transforming trading exchange with 100% transparency, the answer was to utilize a public blockchain. Blockchain allows: • Innovative community interaction across applications • Provide 3rd party liquidity through exchanges and de-centralized exchange protocols • Enhanced efficiency due to smart contract elimination of intermediaries • Enhanced security due to immutability of data • Cheaper maintenance vs Centralized database • History of transactions and prediction of transactions • Fault tolerance due to decentralized nature of blockchain
Currency is becoming decentralized in nature and the changing reality of it requires a decentralized delivery system. For the short term, a relational database may suffice, but we are building a decentralized application for now and into the future where the currency exchange will function and optimize itself, even under extreme conditions. Scalability beyond country borders is more important than short-term pragmatism, as scalability brings more value to the system. 100% transparency on a robust system is more important than a short-term solution. Our platform is scalable through blockchain technology beyond country borders or even continents to be a virtual utility of a new era in clean, decentralized world platform.
4.6
Cryptobulls COIN use
Cryptobulls COIN Token represents 0.0003 BTC (as of publication date of this White Paper). The owner of these CBX Tokens has following options: 1. First – use the CBX Token holding to gain BTCs from the Cryptobulls Exchange Platform 2. Second – CBX Token once listed on the Exchanges, the CBX shall gain momentum in trade markets which shall allow the holders to gain from its market conditions 3. Third – sell the CBX Token on the Cryptobulls Exchange and obtain the gains as per the ongoing market trend If the token holder decides to choose the third option, he can (i) cash out the proceeds immediately or at a future date, or (ii) reinvest the received amount in trade exchange and keep storing BTC via CBX Tokens. The value of this token will grow with the transaction volumes as well as the crypto market.
4.7
Cryptobulls COIN Sale Model
Cryptobulls has structured the Cryptobulls COIN token sale to comply with applicable regulatory requirements. The token sale will be structured as a reward based crowd funding campaign, where contributors in return for their donations will receive Cryptobulls COIN token (CBX). If you would like to read our legal analysis, please see our legal overview. CBX – Real asset based token
Participants in the Cryptobulls token sale in return for their contributions receive CBX tokens. The CBX token will grant rights to: 1. Priority access to participate in tokenized sales at Cryptobulls Exchange and other Gaming platform. The CBX token acts as a priority access token for the auction to participate on Cryptobulls Exchange. After priority bidding, the remaining tokens are sold to any Cryptobulls user. Priority allocation for token auction is proportional to the amount of CBX the holder has. 2. Priority access to CryptoGaming & CryptoCric platform 3. Earn from transactions happening at Cryptobulls Exchange
Trading on Cryptobulls Exchange
Trade Verification by Network
2.5% CBX
Robert holds 2.5% of CBX
2.5% BTC (of the TRX Fees)
Accumulation of Transaction Fees
4.8
Cryptobulls COIN Growth Projection
Year Pre-Sale of CRYPTOBULLS COIN Token Listing on CRYPTOBULLS Exchange Listing on 3rd Party Exchange Launch of Online Gaming Platform Launch of Online & Offline Gaming Platform Launch of Utility Services
4.9
1st Year 1 USD 3 USD 10 USD 100 USD 350 USD 500 USD
2nd Year -500 USD 750 USD 1,500 USD 2,000 USD 3,000 USD
3rd Year -5,000 USD 7,500 USD 10,000 USD 12,500 USD 15,000 USD
CBX – The next generation token
CBX is the next stage in token economy evolution. The great majority of tokens currently released in the market, tokenize equity or company future cash flows, both of which do not have an existing intrinsic value. CBX tokenizes trades, which has a well established market and measurable value.
Backed by Exchange Traders
Tradable and Liquid
Value grows together with platform
*Please note that the value growth depends on the number of users willing to use the Cryptobulls Exchange platform. The whitepaper provides only projections.
4.10 Token Sale Main terms of CBX Token sale: Total token supply will be determined and announced closer to the token sale date to Total CBX Token Supply (100%) account for the BTC/ETH price fluctuations. Token supply will be based on the fundraising targets outlined below Tokens sold during pre-sale and public sale events will comprise 60% of the total token Total CBX Token for sale (60%) supply. Total token supply for the sale will amount to 21.6 million USD (our hard cap) The number of tokens depend on the number Team, community and user growth (40%) of sold tokens Unsold Tokens Burned Soft Cap 3.6 million USD Exchange rate for token sale until the soft cap 1 CBX = 0.0001 BTC = 1 USD Exchange rate for token sale above the soft 1 CBX = 0.0003 BTC = 3 USD cap Minimum investment amount 500 USD in BTC Token Sale Date February 01, 2018 Public Token Pre-Sale Until March 15, 2018 Period of Token Sale 43 Days Will be available and published only at Token contract address https://cryptobullscoin.com Token creation will end when either the maximum number of CBX is issued or the contribution period has ended. If less than the minimum soft cap of tokens are issued, token sale contributions may be retrieved. Unsold tokens will be burned. Tokens allocated to the team (15%) will be locked for 3 years with a vesting schedule and tokens for the future (15%) use will be locked for 4 years. Community and user growth tokens (10%) will not be locked.
5.
PROCESS
Between trade arbitrage is an exchanging procedure that depends on the cost contrast of the same asset(s) on different trades. Arbitrage openings are in actuality wastefulness of the market, communicated, for instance, in the excess of the response of specific trades to an extraordinary change in the estimation of an advantage, or a major contrast in spread at various trades. Likewise, arbitrage openings open in the occasion of a value distinction on a benefit acquired through a chain of buys and deals by means of middle of the road resources. For this situation, the distinction in costs amid the section of the whole chain amasses and turns into a huge sum, which at the digital currency showcase at present reaches up to a couple of percent (1-3%). Such arbitrage opportunities exist for a moment, and for a dealer who actualizes offering on arbitrage techniques, a consistent look for circumstances and their usage is essential. Acknowledgment of arbitrage openings The way toward actualizing of arbitrage systems includes various complexities that require an all around considered specialized program to accomplish a steady positive outcome: 1. Having stores on a few driving trades (the more locales are secured, the better) 2. Accessibility of particular programming that screens arbitrage openings 3. Having particular equipment (exceptionally assigned and legitimately designed servers, with a base ping, and so on) and programming that coordinates trades connecting with them Note that all exchanges must happen with a base postponement in connection to each other. Likewise, the danger of specialized mistakes, disappointments and postponements ought to be limited, as it can demolish the benefit from the arbitrage exchange.
6.
THE PRODUCT
Cryptobulls is an exchanging stage that totals crypto resources and liquidity in one terminal from all key cryptographic money trades on the planet with the capacity to hunt and execute arbitrage openings. It is conceivable to exchange on significant world trades without enlistment on each one of them. The stage can dissect a huge number of sets of digital currency and locate the most productive chains. This implies every member of the stage has the accompanying choices: 1. Exchanging all crypto-resources that are recorded on the best 25 crypto-trades from an MT4 proficient terminal, with the prerequisite to enroll and confirm just on Cryptobulls stage 2. Working with arbitrage systems with least of specialized troubles and issues. In Cryptobulls this isn't harder than putting in a standard request at the trade 3. Working with fiat input/withdrawal of assets in a put stock in locale. Cryptobulls will conform to the enactment of the wards of essence as much as conceivable, every single fundamental permit and allows will be gotten and checking accounts in respectable banks will be opened. For ARBIDEX lawful consistence also, dependability of communication is one of the business needs 4. Edge exchanging, social exchanging (the capacity to lead figures and techniques, also, confirm them) and different apparatuses required by a few classes of dealers 5. Funds on trade commissions. Cryptobulls is intended to decrease the expenses of dealers and increment their incomes The stage will make exchanging on the cryptographic money showcase more agreeable and gainful for every member. For instance, any exchange for the buy of any exchanged crypto dynamic can be executed and no more positive continuing from every associated trade. In the meantime, funds on huge sums can achieve critical esteems, particularly at long separations.
Name Symbol Token Sale Date Token Sale End Market CAP Currencies Accepted Bonus Token Standard Token Feature Token Exchange Rate Planned listing on exchanges
CryptoBulls Coin CBX February 01, 2018 March 15, 2018 60% BitCoin (BTC), Ethereum (ETH) Early booking bonus of 66% during Pre-ICO upto February 10, 2018 (offline mode) Ethereum, ERC-20 Utility Token 1 CBX = 0.0003 BTC = 3 USD 1-15 March 2018
7.
RISKS
The interest in the Cryptobulls project and its underlying token offering (ITO) may conceivably realize the accompanying risks: 1. Risk of connection with stock trades Trade can confine access to its exchanging usefulness through an API. Possibly Cryptobulls administration can be viewed by the trades as a contender with more advantageous and extended usefulness. To decrease the surge of clients, the trade can piece access to particular IP addresses. This can make brief burden to potential Cryptobulls clients and upset the administration. 2. Risk of hacking/shutting down the trades Possibly, the Cryptobulls venture conveys the hazard that trades may stop to satisfy their commitments to clients and totally stop their operations. Cryptobulls cannot dominate the activity of exchanges limited by continuously association with the most fluid trades with a positive goodwill. But, if there should arise an occurrence of startling conclusion or extortion by a specific crypto-trade, a portion of the clients' stores may endure. 3. Specialized risks The Cryptobulls venture conveys dangers related with the specialized execution of between trades exchanging usefulness. There are dangers of postponement in the execution of requests and execution of arbitrage operations after the benefit opportunity was shut, because of an adjustment in the conversion scale. This hazard is limited by steady tests and changes in the calculation of the administration. 4. Political risks The presentation of fiat cash and working the stage overall includes political dangers. In the locale where the operations are to be completed the political circumstance and, along these lines, the mentality to crypto-tasks may change. Hazard is limited using numerous expert groups of corporate legal advisors - for this situation the hazard is altogether lessened. 5. Monetary risks There is an uncontrolled danger of a sharp decrease, crumple or different unfortunate changes in the circumstance on the cryptographic money showcase, not identified with the exercises of Cryptobulls. These dangers may involve the devaluation of client stores in the fiat frame, the trouble of pulling back the advantages for fiat, solidifying of advantages on crypto-trades until the point when the determination of emergency emerging from their claim blame, and different dangers.
8.
FINANCIAL SPECIALISTS
The objective gathering of financial specialists comprises of people and institutional speculators who either have some understanding about the digital currency world or the individuals who for the most part need to enhance a little piece of their established budgetary resources into the new economy. It is normal that the expansive share of individuals outside the group are as yet suspicious about digital forms of money and that it will set aside opportunity to pick up help among them. However, swelled value valuations, negative yields and an absence of elective open doors to put resources into the present speculation condition will compel speculators to participate in digital currencies and organizations made upon blockchain innovation. The exponential ascent of blockchain innovation utilized as a part of genuine organizations is now conveying noticeable esteem included impacts to the economy. Without a doubt such an insurgency, albeit continuous, won't be disregarded by the retail speculators.
9.
CLOSER LOOK
The purpose of Cryptocurrency is to make an elective convention for building decentralized applications, giving an alternate arrangement of tradeoffs that we accept will be extremely helpful for a vast class of decentralized applications, with specific accentuation on circumstances where fast improvement time, security for little and seldom utilized applications, and the capacity of various applications to proficiently interface, are critical. Cryptocurrency does this by building what is basically a definitive theoretical foundational layer: a blockchain with an inherent Turing-finish programming dialect, enabling anybody to compose shrewd contracts and decentralized applications where they can make their own particular discretionary guidelines for proprietorship, exchange configurations and state progress capacities. A no frills form of Namecoin can be composed in two lines of code, and different conventions like monetary standards and notoriety frameworks can be worked in less than twenty. Shrewd contracts, cryptographic "boxes" that contain esteem and just open it if certain conditions are met, can likewise be based over the stage, with immensely more power than that offered by Bitcoin scripting due to the additional forces of Turing-culmination, esteem mindfulness, blockchain-mindfulness and state.
10. CRYPTOCURRENCY ACCOUNTS In Cryptocurrency, the state is comprised of items called "accounts", with each record having a 20-byte address and state changes being immediate exchanges of significant worth and data between accounts. A Cryptocurrency account contains four fields: • The nonce, a counter used to ensure every exchange must be prepared once • The record's present ether adjust • The record's agreement code, if exhibit • The record's stockpiling (empty as a matter of course) "Ether" is the principle inner crypto-fuel of Cryptocurrency, and is utilized to pay exchange charges. All in all, there are two kinds of records: remotely possessed records, controlled by private keys, and contract accounts, controlled by their agreement code. A remotely claimed account has no code, and one can send messages from a remotely possessed record by making and marking an exchange; in an agreement account, each time the agreement account gets a message its code actuates, enabling it to peruse and keep in touch with inside capacity and send different messages or make contracts thusly.
11. MESSAGES AND TRANSACTIONS The expression "transactions" is utilized as a part of Cryptocurrency to allude to the marked information bundle that stores a message to be sent from a remotely claimed account. Exchanges contain: • • • • • •
The beneficiary of the message A signature distinguishing the sender The measure of ether to exchange from the sender to the beneficiary An discretionary information field A STARTGAS esteem, speaking to the most extreme number of computational advances the exchange execution is permitted to take A GASPRICE esteem, speaking to the charge the sender pays per computational advance
The initial three are standard fields expected in any digital currency. The information field has no capacity as a matter of course, yet the virtual machine has an opcode utilizing which an agreement can get to the information; for instance utilize case, if an agreement is working as an on-block chain space enlistment benefit, at that point it might wish to decipher the information being passed to it as containing two "fields", the main field being an area to enlist and the second field being the IP deliver to enroll it to. The agreement would read these qualities from the message information and properly put them away. Basically, a message resembles an exchange, with the exception of it is delivered by an agreement and not an outside on-screen character. A message is created when an agreement presently executing code executes the CALL opcode, which delivers and executes a message. Like an exchange, a message prompts the beneficiary record running its code. Along these lines, contracts can have associations with different contracts in the very same way that outside performers can.
12. CODE EXECUTION The code in Cryptocurrency contracts is composed in a low-level, stack-based byte code dialect, alluded to as "Cryptocurrency virtual machine code" or "EVM code". The code comprises of a progression of bytes, where every byte speaks to an operation. In general, code execution is an unending circle that comprises of over and again completing the operation at the present program counter (which starts at zero) and afterward increasing the program counter by one, until the point when the finish of the code is come to or a mistake or STOP or RETURN guideline is distinguished. The operations approach three kinds of room in which to store information: • • •
The stack, a toward the end in-first-out holder to which esteems can be pushed and popped Memory, a limitlessly expandable byte exhibit The contract's long haul stockpiling, a key/esteem store. Dissimilar to stack and memory, which reset after calculation closes, stockpiling continues as long as possible
The code can likewise get to the esteem, sender and information of the approaching message, and also square header information, and the code can likewise restore a byte cluster of information as a yield.
13. FINAL WORDS Inside the system of this Whitepaper, Cryptobulls group analyzed the digital currency market and its present issues. To comprehend them and set up the market as more develop and receptive to institutional financial specialists, complex work is expected to take care of various issues: expanding and incorporation of liquidity, control, straightforwardness and presentation of expert apparatuses. Cryptobulls stage is going about as one of the items that takes care of these issues with its usefulness and engineering of business working (as far as legitimate structure). In addition to proficient exchanging apparatuses, consistence and other usefulness that permits exchanging on the stage for proficient dealers and speculators, the stage additionally gives a specialized chance to mechanized execution of arbitrage chains, which gives an extra chance to make benefit for the clients. Right now, there is no simple to such an item in people in general area. We will likely make every merchant's investment in our stage as important as conceivable because of a noteworthy lessening in commissions, convenience with proficient programming and profit for the usage of arbitrage openings that emerge continually on a progressively creating cryptographic money showcase.
CryptoBulls Coin WHITEPAPER Version 1.1 – February 11, 2018
Email: info@cryptobullscoin.com
Web: https://cryptobullscoin.com
Telegram: https://t.me/joinchat/HRSAdUl jJd3xltJ3vrdl8w