Streamity ICO Review
Decentralized Cryptocurrency Exchange.
|Company||Token Symbol||Token Type||Category||Total Tokens||Streamity||STM||Utility ERC-20||Exchange||180,000,000 STM|
Official Website: https://streamity.org
In this review, we’ll cover Streamity: a decentralized cryptocurrency to fiat money exchange. We’ll go into detail about the people behind Streamity, its key features, and token distribution.
So what is Streamity? And how does it differ to other cryptocurrency exchanges?
Registered in Singapore, Streamity differs from other exchanges as it claims to be “completely independent and secure due to the use of smart-contract architecture and the API of payment systems,” which is the headline on Streamity’s website. This means that unlike its centralized competitors, there is no middleman, making it a truly trustless exchange for both fiat and crypto currencies. As per Streamity’s homepage, the project intends to raise $20m in funding.
There is more to this trustless exchange that we will explore in detail later in this article. Let’s start by looking at the problems that Streamity claims to solve.
Streamity - Identifying the Problem
Under the market analysis section of the Streamity whitepaper, it outlines the following problems for cryptocurrency exchanges:
- Cryptocurrency exchanges charge high commissions
- The market is highly volatile
- To hedge against market volatility, exchanges increase the amount that they charge, resulting in higher fees for traders
Streamity - Proposed Solution
Streamity’s solution is to lower the costs for trading cryptocurrencies with its decentralized platform, known as StreamDesk and internal STM tokens. According to the Streamity roadmap, the prototype for StreamDesk was completed in August of 2017.
Once the platform goes live, StreamDesk will support the following features:
- Transactions executed via smart contracts
- Support for both fiat and crypto
- Compliant with KYC laws
- Commissions will vary from 0-2%
- Cryptocurrencies will be valued as close as possible to the current exchange rate
As per Streamity’s website, the firm describes StreamDesk as the following:
“StreamDesk is a P2P platform where both parties to a transaction are individuals. There is no comparison between StreamDesk and conventional financial institutions such as banks or stock exchanges, as fiat currencies are transferred directly between individuals.”
StreamDesk claims to be an innovative peer-to-peer platform based on blockchain technology, which makes it favorable option due to the safety and immutability of its transactions.
Advantages of Streamity
On page 7 of Streamity’s whitepaper, the founder, Vladislav Kuznetsov outlines the following benefits of the Streamity platform:
- Artificial Intelligence: it’s claimed that Streamity will use AI as part of its platform
- Strategic Partnerships: Streamity has relationships with companies in the space of blockchain technology
- Registered business in Singapore
- Meetups and conferences planned after the ICO has finished
- Streamity claims that it intends to become a leader in blockchain technology by recognition of P2P platform development
The following roadmap can be seen under the Roadmap section of the Streamity whitepaper, as well as its website.
- May 2017: Creation of the Streamity project
- August 2017: Protype of the company’s StreamDesk finished
- Q1 2018: Start of ICO
- Q1 2018: Launch of StreamDesk and its marketing campaign
- Q2 2018: Launch of education and information Streamity resource
- Q4 2018: Launch of cryptocurrencies converter
- Q2 2019: Launch of Streamity Mobile Version
- Q4 2019: Launch of Streamity Investment Resource
Function of STM Tokens
The intention of STM tokens is to fund the StreamDesk decentralized application. STM tokens are a key element of Streamity, as it is its internal currency; all services of the project are expected to be paid in STM as per the brand’s token page.
- STM-Tokens will be released on the Ethereum platform using the ERC20 standard
- The number of tokens is hard capped at 180,000,000 tokens
- As per the white paper: “Additional STMs will not be issued in future. Upon collection of these tokens, the ICO will be considered complete and further phases will be stopped.”
- The value of one token is the equivalent of 0.2$. These tokens will be distributed proportionally and within the amount of investments acquired during the ICO campaign
- The available purchase methods are: BTC, LTC, ETH, ETC, USD, EUR
Benefits of STM Tokens
On the project’s homepage, the Streamity project claims to be based on a popular mass service, and that the demand for the project’s services will be preserved under any conditions of the cryptocurrency market.
This means that the development of Streamity services and new users will “create a steady demand for STM,”’ by the company’s own admission.
Users get STM tokens at a price lower during the launch of the service, which can then be used with StreamDesk. Additionally, each person holding more than 1250 STM will get special privileges in the platform and will be offered even lower commissions with StreamDesk.
Streamity Token SaleToken Sale Phase #1
15% - bonus is given starting from the second day of the phase #1 until the end of this phase
Start: 12.03.2018 (9:00 AM GMT)
End: 25.03.2018 (9:00 AM GMT)
Quantity of tokens available during the first phase of ICO: 100,000,000 STM
Quantity of tokens available during the second phase of ICO: hard cap
The lower limit to launch the project 25,000,000 STM
10% - bonus is offered during the phase #2
Start: 16.04.2018 (9:00 AM GMT)
End: 29.04.2018 (9:00 AM GMT)
Distribution of Tokens
Vladislav Kuznetsov: CEO Founder - Vladislav has more than 10 years worth of experience in business and asset management for stock markets. His previous roles were at HP brand store and KVB print.
Dmitry Martianov: CTO Co-Founder - Dmitry is a business owner, software engineer and web developer with over 8 years worth of experience. He participated in projects with Pegas Touristik and Nordwindairlines.
Oles Sribny: Head of Investment - Oles is a trader-analyst and hosts numerous stock exchange workshops and training programmes. He spent 10 years trading in global markets and more than 6 years of experience in training and development.
Maksim Smirnov: Software Engineer - Maksim graduated from Bauman Moscow State Technical University with honors and worked in IT for 8 years. Five of those years were spent in banking as the head of the development unit of Alfa-bank, one of the largest commercial banks in Russia.
Sergey Bevzenko: Backend Developer - Sergey has a Master’s degree in process automation and worked with companies like Auchan, Michelin, Pegas Touristik, Nordwind, mos.ru, Active Citizen and many others.
Egor Okhterov: Software Engineer - Egor’s skills include design algorithms, business processes, computational geometry, discrete mathematics, linear algebra, mathematical analysis and project management to name a few. Egor previous worked for Kaspersky.
Pavel Bolgarskih: Blockchain Developer - Pavel is an expert developer of smart contracts and Ethereum (ERC20 tokens). He has been interested in blockchain startups for more than 4 years.
Maxim Yarushin: Business Development Manager - Maxim spent more than 5 years in a global IT company and is considered a leader in business development and market entry.
Olga Prosalova: Marketing & Community - Olga is a marketing expert and community manager with a rich experience in Russian tech companies.
Daniil Lobov: Content Manager - Daniil worked in the Russian Ministry of foreign affairs as a translator.
Sergey Kolomiec: Online Coach & Investment - Sergey has been a trader and investor since 2010 on US exchange platforms.
Andrey Zolin: Blockchain Advisor - Blockchain developer. Was engaged in the development of the supply system on the Ethereum in Sberbank.
Sergey Bogatirev: SINGXPERT - Business development specialist, economic advisor of the Streamity project. Took an active role in the development of project monetization, STM token and KYC policy.
BBS PTE.LTD: Best Business Solutions - Singapore consulting company has assisted Streamity in registering a legal entity, opening bank accounts and accrediting on the crypto-exchange exchanges.
Aleksey Gaiduk: CEO, Founder, Fortifier - Fortifier is a company with extensive software development experience in the fields of insurance, healthcare.
Stephan De Haes: Promotional Advisor - Stephan is Chief Operations Officer at Krypt.ly, a FinTech startup.
Opinder Preet Singh: Blockchain Advisor - Opinder Preet Singh is a serial Entrepreneur and presently working on different blockchain projects. He is currently working on the anonymous zTips protocol to solve the problems of reporting crime and corruption.
Streamity offers a solution to one of the most pressing problems that exchanges face today: expensive fees, and a centralized structure. With StreamDesk working solely through smart contracts, there is no single point of failure for the platform, which protects both buyers and sellers from fraud and platform outages.
STM tokens could be seen as an attractive option for investors, as it locks in future discounts on the Streamity platform and allows people to participate in one of the world’s first truly decentralized exchanges.