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October 27 2017

ICO Alert Report: Spectre

ICO Alert Report: Spectre

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What is Spectre?

Spectre.ai is the world’s first broker-less trading platform that removes the broker out of the equation and thus the opportunity for financial fraud. Trader’s trade instead against a decentralized pool of liquidity or other traders on a range of asset classes and contract types; some offering 70–90%+ return in just a matter of minutes. Financial fraud is a multi-billion dollar problem that has even started to claim lives.
Spectre.ai replaces the broker and all its functions with immutable smart contracts that use the Ethereum blockchain for trade verification and flows of funds to and from the trader. The opportunity for moral hazard is zero.
— The Spectre Team

Q&A

ICO Alert: How does the Spectre token (SPEC) function within the platform and why is it needed?

Spectre: Spectre.ai has two two tokens. One is meant more for longer term investors, this is the d-token (for dividends) and this grants a trading-volume based profit share paid as ETH to token holders monthly and annually. This token is illiquid, however, and not listed on major exchanges as it constitutes a security. However, the u-token (for utility) is used by traders on the platform to gain extra privileges such has higher payouts, win-rates, access to assets and other in-platform advantages that give traders an edge. On top of this, the u-token is the net beneficiary of the ongoing Spectre.ai token buy back program and because of its non-security nature (as per the SEC’s Howey test) it is likely to be listed on some of the major exchanges, thereby having higher liquidity.

ICO Alert: For someone with little knowledge of Prediction Market Platforms, what is the benefit of using such a tool?

Spectre: A prediction market platform allows you to make far quicker and higher returns than traditional investing, if you invest the time in learning how to trade. Owing to the nature of our Smart Option contracts and Smart CFDs (ULC CFDs is the technical term), one can exact between 70–90%+ ROI on a trade position within just 5 minutes and up to an open ended duration. This video showcases such a trade live on our platform:

ICO Alert: Can you briefly describe the three contract types that make up the Spectre Prediction Market Platform?

Spectre: 
1. Smart Options (live)
2. Smart CFDs (ULC, to be live 3 months after commercial launch early next year).
3. Traditional A-Book Spot contracts (to follow after Smart/ULC CFDs)

ICO Alert: A large issue for current tokenized exchanges is liquidity, they simply do not carry the volume necessary to make their platforms viable. How will Spectre look to solve this issue?

Spectre: We are not a crypto currency exchange. Said exchanges depend on high volumes of traders (peer to peer). Spectre.ai is a prediction market platform which is tokenized and should a peer to peer match not be found, the decentralized, autonomous liquidity pool (DALP) will act as a counter party. This offers near-24-hour liquidity.

ICO Alert: Your public alpha went live in September 2017, can you give us an update on how the project was received by the community?

Spectre: It was received well, you can login and check out the community that is being built in there in the Spectre.ai chat. Even though the platform is in demo, the growth in the pool and virtual payments to token holders validates our model.

ICO Alert: Are there any current competitors to Spectre in the broker-less financial trading space?

Spectre: Off the blockchain, all B-Book brokers including binary brokers, fx brokers and other centralized brokers who don’t have a liquidity bridge to the wider asset markets. On the blockchain, traditional prediction market platforms.

ICO Alert: Does the team have specific goals on the number of users they’d like to see adopt the network over the next year? Five years? What are both the optimistic and conservative figures?

Sprectre: Yes, this is presented in our Forecasts model available in a range of bearish to bullish scenarios here.

ICO Alert: The Ethereum network has occasionally suffered from slow transaction times. Is there any concern that this may affect the Spectre platform?

Spectre: This is a valid concern that came up during our due diligence of various blockchains. Network congestion is always an issue however we have circumvented this by creating a separation between our transactions and verifications bridge. The former can accept up to 100 trades per second and then verifications (on the blockchain per trade) happen in a queue. From the perspective of a trader this just means that they know when they have won or lost immediately after they exit a position or it expires, however they may need to wait a few seconds to a few minutes for funds to hit their wallet.

ICO Alert: As a non-Spectre question we like to ask for unique predictions for the ICO and cryptocurrency space in the future. Where do you see both in the next 3–5 years?

Spectre: The ICO space is in a funding bubble that most likely may be popped by failed, over-funded projects (we already start to see news stories like these leaking recently, contributing to investor concerns about asset bubbles in the space). Longer term we do believe ICOs are here to stay, albeit in a different format and lower average-raise-per ICO. Venture capital, however, has been disrupted forever and will need to re-invent itself in order to stay relevant. We also believe a new variant of the DAO will resurface and this time it will work and redefine investment funds in the crypto space and how they vet and invest in crypto projects.
As for cryptocurrencies, we believe temporarily there may be some profit taking to clear out some retail investor inventory and then institutions (some of whom have been talking down the bitcoin price in order to get preferred entries) will start to build meaningful, long term structural positions possibly forcing many cryptos to break all time highs. We are bulls on the space. We also believe the cryptocurrency ICO space includes some hidden gems that could become the next unicorns. Heavy due diligence is required at this stage by investors and if this is conducted properly, handsome rewards await in the long run.

Pre-ICO Information
The pre-ICO is live and will end on November 5, 2017. Both the Spec-D token (dividend paying) and the Spec-U token (utility token) will be available during this period. In order to participate in the pre-ICO, investors must register for the Spectre.ai whitelist. A hard cap of 240,000,000 combined Spec-D and Spec-U tokens are available for the entire ICO period.

The price is 1 ETH = 2,000 Spec-D/U tokens and the minimum contribution amount for the pre-ICO is 1 ETH. There is no maximum contribution amount. The first 100 million tokens (c. $15 million in value) purchased in the pre-ICO will carry with them a 33% bonus. Any additional tokens purchased during the pre-ICO will be sold with a 22% bonus. The sale is not open to US citizens and ICO participants must digitally sign a statement that they are not a US citizen.

The Spec-D and Spec-U Tokens are an ERC-20 token, therefore, an ERC-20 compatible Ethereum wallet is required to store the tokens.

ICO Information
Spec-D and Spec-U Tokens will be available for the main ICO sale starting on November 17, 2017. The ICO will run for 24 days and end on December 11, 2017 or when the entire ICO allocation of Spec-D/U tokens have been sold.

There is an 11% bonus for each contribution made during the first week of the main ICO. This means that if someone contributes 1 ETH to purchase 2,000 Tokens (as per the original price) then they will end up with 2,000 tokens plus 220 tokens, so in total 2,220 tokens. There is no bonus offered for contributions received after the end of the first week of the main ICO.

If the minimum cap is not reached, funds will be returned to the original investor. Visit the Spectre Token website for more information and for the contribution address.

Token Distribution Information
Spec-D/U tokens are delivered to users instantly when purchased, however they only become transferable after the main ICO has ended, which is either 24 days after the start or if the max cap is reached.

The Spectre whitepaper is available for additional details regarding distribution.

Allocation
50%: Token sale
20%: Option Pool & Reserve
15%: Management
10%: Legal and Advisory
5%: Bounties

Use of ICO Proceeds
40%: User Acquisition
20%: Personal Compensation
10%: Regulatory license acquisition
7%: R&D
5%: Bank Grade Security
4%: Server and Software licenses
4%: Platform support personell
3%: Platform additions
3%: Legal
3%: Accounting
2%: Blockhain engineering

Team
Karen “Kay” Khemani, CEO
Linkedin
Kay is responsible for overseeing the design, architecture and expansion of Spectre into the market. He is a co-founder of Neuchatel Ltd and FIIT, the companies behind Spectre and an avid blockchain enthusiast. He started working at J.P Morgan and then went to work for Goldman Sachs as Executive Director in Research and Investment. He started his career by studying at the London School of Economics, where he received a bachelor’s degree and then an master’s degree in Decision Sciences.

Zizis Skouloudis, COO
Linkedin
Zisis is responsible for financial forecasting and risk management in Spectre’s liquidity pool. He too is a co-founder of Neuchatel Ltd, the company behind Spectre and formerly worked at INO SA & Siemens, designing and implementing their ERP software. He is an electrical engineer with a passion for mathematics, modelling, big-data, and is a certified Quantitative Finance & Risk Modeller from Wharton, University.

Elena Drakos, CFO
Linkedin
Elena’s company, Fiducicorp, is responsible for Neuchatel’s year-end financial statements and she has been with Neuchatel Ltd since its inception. Elena’s fascination with the blockchain ecosystem made it an easy choice for her to join Spectre’s board in 2016. She has been responsible for Spectre’s accounting, financial planning and analysis functions.

Jai Sankar, CTO
Linkedin
Jai is responsible for shaping Spectre’s long-term technology vision and is involved on all technical levels of the company — Solidity contracts, DApp development and overall architecture. Jai is a Microsoft, PMP and PMI-ACP certified professional and prior to joining Neuchatel Ltd, he held key technical positions with Hexaware, INSZoom, Mindtree and handled projects for Microsoft, Motorola, IBM and Franklin Templeton amongst others.

Nikitas Goumatianos, Technical Architect
Linkedin
Nikitas is a retired fighter pilot, technology geek and a results-driven IT professional with 25+ years of experience in large scale IT projects. He works at all things tech at Spectre, specializes in Digital Options and FOREX/CFD trading systems and is passionate about the intersection of technology and finance. He holds a bachelor’s degree from Hellenic Air-Force Academy.

Oto Suvari, Director of Research and Development
Linkedin
Oto worked on Spectre’s algorithms during its 2016 development and currently works on technical performance calibration, trade type and asset backtesting. A passionate financial engineer, Oto is an early employee of Neuchatel Ltd and helps the group in all of their financial engineering projects.

Social Media
Blog: https://medium.com/teamspectreai
Twitter:​ https://twitter.com/SpectreAI
Facebook: https://www.facebook.com/spectrepage/
Reddit:​ https://www.reddit.com/r/Spectre_ai/
BitcoinTalk: https://bitcointalk.org/index.php?topic=2169122.msg21737652
Telegram: https://t.me/joinchat/GjkGkw7IfwUVuPiWxctD4g

View the Spectre Website here.

View the only comprehensive list of active and upcoming ICOs here.

References
(1) Spectre Website, Spectre, (2017)
https://www.spectre.ai/

(2) Spectre Whitepaper, Spectre, (2017)
https://d1zzssn32v8b7a.cloudfront.net/media/en/spectre_whitepaper_v_2_3.pdf

Topics: Blockchain, ICO, Cryptocurrency, Trading, Predictions