Ikan Bilis
Introduction
It is the Social Currency of the Ikan Bilis DAO that will be used to fund community initiatives, reward behaviour for the social good. More community driven features will be up and coming for this token but for now these are the use cases for the token.
Ikan Bilis DAO
- Will run as a DAO. All decisions that concern ecosystem participants and stakeholders are put through a vote and decided on by the community by holding the $IKAN token.
- Incentivizes community growth and interaction through the use of $HERR.
- Will start off as a centralised platform with key integration partners such as brokers and data providers and will gradually move to become totally decentralised.
Product Overview
The project has an extensive product roadmap committed to building tools to help as many retail traders as possible become better at trading.
These include but are not limited to simpler to use trading interfaces, backtesting tools, smart dashboards driven by AI technology as well as automation tools to help traders manage their workflows. There will also be peripheral technology that we will keep building to help us operate as a DAO as efficiently as possible.
Problem: Draconian Infrastructure In Tradfi
The growth in retail trading is on the up and up and millennials now account for almost 58% of all retail traders in the world. The crypto space has been gaining market share in retail and institutional traders growth despite its higher fees, slippage in prices and the cyber security and legal issues that plagues the space. Despite this, over 54% of retail CFDs use trading tools provided by MetaQuotes Software which are difficult to integrate due to the lack of good documentation and talent in the space. The resistance to change can be attributed to a trader's preference to stick with what they are familiar with and the lack of something obviously better. There are also tools available on MT4 and MT5 like its Expert Advisor and copy trading to help people automate their trades and strategies that are yet to be built on Defi.
Solution: Bridging Tradfi To Defi
Ikan Bilis goals is to convert the other half of retail traders to the defi ecosystem. Through the use of behavioral tokenomics, the development of better tools for traders and a more transparent and democratic governance process, we hope to close the gap between Tradfi and Defi. Ikan Bilis will build the ark that symbolizes trust and convenience for the masses which will help migrate those that want to leave the old world for the new.
Trading Platform
At the time of writing, Ikan Bilis v1.0 has leveraged the extensive suite of tools that comes with the MT4 platform.
We have partnered with an Australian broker called Global Prime that will offer brokerage services for forex, indices, metals and cryptocurrencies at a very tight spread on the MT4 platform. We have also partnered with MetaApi that will expose endpoints for us to retrieve statistical data on our trading activities. The service also allows us to leverage MT4’s copy trading and expert advisor capabilities which we can turn into value added services for our traders in future.
While having a stable and good user interface, MT4 has been around for quite some time and the user interface is starting to pale in comparison when put side by side with Robinhood and some of the Defi interfaces out there. We do not exclude the possibility of developing our own UI while keeping MT4 at the core of trading and brokerage services. We are also constantly on the lookout for Defi alternatives (e.g. dy/dx) that might suit our use case and as the team grows, we do not exclude the possibility of developing our own in-house solutions.
Trading Tools
At the heart of the build team at Ikan Bilis is helping traders make timely and more informed trading decisions. This cannot happen without a suite of quantitative and automated tools that our traders can leverage to perform better in the markets. Due to the lack of good backtrading tools out there, traders often have to go in blind on a strategy. This causes anxiety for most traders as they are not aware of the parameters and characteristics of the trading strategy they are using. For the rare few that manage to achieve profitability without backtrading their strategies, their profits are often not optimised and have to compromise for lesser profits in order to remain psychologically balanced.
We will also create tools that can cater to different styles of trading. For swing traders that do not watch the chart all the time, we will implement a simple SMS/email notification tool that notifies traders about price movements in the markets. For traders that would like to automate their strategies, we will develop a codeless method for traders to set the entry/exit parameters of their trade.
Tokenomics
The Ikan Bilis solution is a system designed to seek, retain, fund, and reward the profitable traders while keeping the unprofitable ones in a safe zone, protecting their capital until they are ready for the harsher conditions of live trading.
Prospective traders will first pay a fee to go through a preparation and evaluation stage. During this stage, they will have access to all educational resources on our platform, which will equip them with necessary trading tools. Traders can take as much time as needed to learn and practice, and only upon successful evaluation, will they be given an actual fund to trade. This phase is necessary to ensure that only traders who have demonstrated effective risk management strategies and achieved profitability will get to trade real money.
There are three types of tokens in the Ikan Bilis ecosystem. The $HERR token is used as an in-app currency used to incentive socially good behavior and celebrate trader milestones and can be traded for $IKAN governance tokens. token is used for permission controls and perimeter settings on the trading account.
Distribution
The token token supply will be capped at 1,000,000,000 tokens, 20% of which will be sold in an ILO fair launch offering on Unicrypt. There is and will be no seed or private rounds raised prior to the ILO in order to stay true to the ethos of Ikan Bilis DAO.
- Name: HERR
- Symbol: HERR
- Contract Address: 0xaed5E14D8c1c264B21289a238496D7b5840c9013
- Decimal Place: 18
- Foundation/Team: 10% with ten years lock up
- Advisors/Marketing: 25% with lock up over ten years
- Liquidity/Listing: 10% (liquidity locked on PancakeSwap)
- Community Reserve & Treasury: 50% (with lock up over ten years)
- Initial Liquidity Offering: 3% with one month lock up
- Bounty/Airdrop: 2% with one month lock up
- Launch Price: $0.01
This token is created as a governance token and each token represents a stake in the ecosystem. $IKAN tokens are not presold and neither will there be an initial offering for it. They are only obtainable through the staking of $HERR tokens. Using $IKAN tokens, the community can decide on matters that affect that future of the DAO. Some of these decisions include but is not limited to monetary policy and the use treasury funds.
There is no cap to the number of tokens that can be minted but each one is exclusively minted for a specific event. Each token is minted and awarded to the funded trader like an NBA ring upon passing the challenge. At the launch of Ikan Bilis V2.0, there will be a fair launch lottery allocation for the purchase of these tokens. Each token awarded will give the trader unlimited retries on the funded challenge it was awarded for and also take on the attributes of the total funds allocated to a trader, the profit split, as well as maximum loss allowed on the account.
Roadmap
- May 2021 : Birth of the idea
- June 2021 : Ikan Bilis Capital Pte Ltd established
- July 2021 : Partnerships with Global Prime and MetaApi established
- August 2021 : Launch of V1/ White paper released
- October 2021 : Airdrop $HERR tokens to community members
- November 2021 : Launch of V2 ($IKAN and $SHARK tokens)
- December 2021 : Launch of trader’s tools (backtrading/price notification)
Contact Information
- Websites : https://dao.ikanbilis.capital/
- White paper : https://drive.google.com/file/d/1R0-f4Gf0d7TF6NKT5iXedBsDK0TGnXse/view?usp=sharing
- Twitter : https://twitter.com/IkanBilisDAO
- Facebook : https://www.facebook.com/profile.php?id=100069966662252
- Telegram : https://t.me/Ikanbills
- Youtube : https://www.youtube.com/channel/UCrba4rNZHtNhfn79FAwjpQg
Author:
Bitcointalk Username: Raul de Tomas
BitcoinTalk Profile URL: https://bitcointalk.org/index.php?action=profile;u=2853229
Telegram Username: https://t.me/FebbyRastanty
Wallet : 0x6c5e5c521f900d2a61751a7a0fd8ae05525103c7
