Photo - TraDEXsocial
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TraDEXsocial

Reducing the barriers for cryptocurrency adoption

Bulgaria
Market: Blockchain
Stage of the project: Idea or something is already done

Date of last change: 29.06.2020
Min investment
$  50.000
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Total required
$ 400.000
Rating
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Idea

TraDEXsocial is a company combining a cryptocurrency miner with a decentralized copy trading exchange in one platform which provides easier and safer entrance for inexperienced people in the blockchain world and takes the burden of financial decisions off their backs.

Current Status

Achieved:
- Secured 3 Angel investments for $60,000
- Secured Seed investment funding from Aeternity ventures ($100,000)
- 2 iterations of the platform prototype. Minimum viable product Alpha launched consisting of crypto miner simulation, wallet and a working exchange with trading pairs
- Initial traction of 100+ users by successfully executing a bounty campaign with Crowdholding

Market

Our buyer personas are gamers, cryptocurrency entry level users, Forex and Fintex enthusiasts. Gamers own suitable hardware for crypto mining. Gaming industry has outgrown the movie industry in terms of total revenue. We are targeting emerging markets, such as Africa, Latin America and Central Asia.There will be 725 million mobile phone subscribers in Africa by 2020, according to the GSM Association. More and more Africans will have the tools to become a part of the cryptocurrency ecosystem.
With approximately 640 million people population, 415 million mobile phone users, over half of which (more than 200 million) smartphone users ,Latin America is the world’s second fastest-growing market for mobile subscribers. By 2020, predictions say that 63% of Latin America’s population will have access to the mobile Internet.
Almost all successful blockchain products are fintech products (mostly exchanges).

Problem or Opportunity

The problems we are solving:
1)Crypto mining is too complex and costs a lot for micro investors
2)Crypto traders forced to learn by mistakes
3)Entry barrier for new crypto users is too high
We are offering a one-stop platform, where you can start mining with just 3 clicks, without any upfront investment.

Solution (product or service)

The product is a software blockchain platform combining a crypto miner, wallet and an exchange
Mining side:
- Most profitable currency based on the users’ hardware (mobile/laptop/desktop)
- Web based miner for the prototype phase. An application for the fully developed platform
- Aeternity pool for early liquidity
Wallet, Exchange side & DeFi side:
- pre generated wallets
- Partnering with a fully functional decentralized exchange
- Copy trading algorithm to sort the most suitable traders
- DeFi services for additional passive income opportunities
Gamification elements:
- user engagement with bonuses, events and levels
- Price prediction for cryptocurrencies with contests and prizes
- Viral effect with a competitive referral program
- Analytics to track and analyse platform progress and customer behaviour

Competitors

Part of the companies that are offering the same service as ours:
https://www.etoro.com/
https://honeyminer.com/
https://blockport.io/
https://covesting.io/
https://www.iconomi.com/

All of these are multi-billion dollars companies offering only one or two of our functionalities. For example Honey Miner are only cloud miner, eToro is mainly exchange and copy trading algorithm. We are combining 4 essential functionalities for an early crypto trader - miner, pre-generated wallets, exchange and copy trading algorithm.

Advantages or differentiators

- Simple and efficient UX design for easy and intuitive access
- Employing idle smart devices – additional income
- Copy trading on a crypto exchange – multiplying your earnings by following the most profitable proven traders
- Our strength Is combining gamification, education and profitability

Finance

We have a revenue projections up to 2025. According to the projection the company should start generating revenue in 2021 and the calculations shows that the revenue should be $126 for 2021,$540,000 for 2022, $4,470,000 for 2023, $5,100,000 for 2024 and $10,200,000 for 2025.

Our main income stream are the copy-trading commisions for using this specification in our platform, followed by the mining fees for generating cryptocurrency.

Targeting time for exit is 2025 with a valuation between $6,000,000 - $85,000,000. The profit maximization is 5x-60x. Our potential buyers are: Crypto exchanges:Stepping stone for new customers + monetize on customer database
Market trading companies: Expand portfolio segmentation: blockchain

Business model

The majority of the business model is focused on 2 pillars of the blockchain environment – mining and trading.
Multiple revenue opportunities available on project start:
- Mining fees (% of the mining of every user)
- Trading fees (divided between TraDEXsocial and external exchange providers; with an option for purchasing Exchange licence or building own Exchange in the future)
- Subscription and success fee for copy trading services
- Affiliate fees for FIAT gateway/B2B clients
- Whitelabeling of Copytrading module for existing Crypto Exchanges
- Data analytics of Customer behaviour
Revenue opportunities when project enters second stage (critical customer mass reached):
- Advertising on platform
- Partnerships (revenue sharing, joint venture)

Money will be spent on

This amount will be used for:
- Finalising the product and bringing it to the market (Software development)
- Implementing several profitable mineable cryptocurrencies in the application
- Copytrading module (implemented in the TraDEXsocial ecosystem and available for whitelisting for other exchanges)
- Certifications
- Marketing
- 6 full time employees (including 1 full stack developer) + outsourcing to professional contractors
- Additional funding speeds up the delivery and increases the market visibility and ROI

Offer for investor

We are ready to offer 20% equity and we are currently fundraising $400,000
Minimum Investment Ticket is $50,000

Team or Management

Incubation/Acceleration programs accomplishment

Participation in the Aeternity Starfleet Incubator in 2018 and win a $100,000 VC investment - https://www.aeternitystarfleet.com/
Currently part of the Newchip Accelerator - https://launch.newchip.com/

Won the competition and other awards

One of the winners in the Aeternity Starfleet Incubator in 2018 and win a $100,000 VC investment

Photos

Photo 1 - Reducing the barriers for cryptocurrency adoption

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video