ABOUT INGOTCOIN
INGOT Coin aims to Create
an unprecedented, a first-of-its-kind revolutionary ecosystem based on
blockchain technology that will link newly developed crypto markets with the
currently existing financial markets eliminating inefficiencies, while
providing a one-stop ecosystem that enables participants to perform and execute
transactions according to their financial needs.
The IC Ecosystem will be
based on the blockchain technology and will utilize Smart Contracts to
facilitate the execution of different contracts, while eradicating the need for
intermediaries and external interferences that restrict investors from fully
engaging in all markets. By adopting blockchain, we are creating a specialized
ecosystem that will substantially increase customers' confidence, market
liquidity and -most importantly- provide efficient market pricing and access to
funds for all variety of stakeholders.
The IC Ecosystem will
transform trades, settlements and payments and make them instant, bringing
together different necessary components and cutting out third party
intermediaries who usually delay the process and increase associated costs.
Transparency,
Data Availability & High Liquidity
The Ecosystem will
increase transparency by making all trades available on a decentralized ledger.
This ledger will be available to all potential stakeholders. Data vending will
be available to the public, as it will include a journal for all trades,
investors, volumes and extensive data of all transactions within the Ecosystem.
Availability of
information provides a basis for local and foreign investors to access the
market with higher confidence thus creating trust in the IC community. As for
the current liquidity landscape in crypto markets it is evident that it is
disintegrated and frequently moving across exchanges. Major exchanges offer
diverse crypto pairs without singular of any token or pair and offer divergent
prices based on liquidity.
Thus, preferred prices
for a token might shift from one exchange to another creating inefficiency as
well as opportunity, on the other hand, exchanges act as separate “liquidity
pools”. Each pool has liquidity in certain tokens but lacks it in others. The pools
are only accessible to each pool’s clients. Separately, each market’s liquidity
remains small, but collectively, along with the IC Liquidity Pool, they
represent a large and diverse source of liquidity that ensures efficiency in
the crypto market. IC will link exchanges under one highly beneficial platform
through APIs. Liquidity is key to the success of the platform and IC’s plan
includes several aspects aiming to ensure accessibility to liquidity pools in
association with the world’s largest cryptocurrency exchanges.
Under the IC Platform, a
global network of cryptocurrency exchanges will be accessible to all
participants. Providing access to all the major reputable and liquid exchanges
worldwide, IC Platform will provide an unparalleled set of services to a
diverse group of investors and token Issuers. IC aims to provide access to all
the opportunities brought by the crypto economy revolution to investors and
users all around the world. The IC Platform will be managed and operated by
INGOT Coin, a registered company established and licensed under Estonian laws.
Integrated
Wallet & Fund Management
IC wallet is an encrypted
blockchain based cryptocurrency wallet. The IC Exchange software is integrated
with the multi-currency wallet system. Wallet funds are protected via
cryptography as well as a multi-signature cold storage which guards market
participants’ funds from any external access. All cryptocurrency funds will be
automatically managed through the IC Wallet interface. Fiat funds such as Euro
or US Dollar can be deposited in the IC Bank and managed manually by the IC
Exchange operator or automated through the implementation of payment processing
features through the IC Digital Bank interface.
Maximum
Security
Multiple layers of security
prevent any hacking attempt and ensure that funds always remain safe. The first
layer is established through utilizing multiple independent servers. The IC
Exchange software is bridged with the IC wallet where all crypto funds will be
stored. Recordkeeping procedures will be another layer with continuous
reconciliation to prevent hacking from occurring, while maintaining compliance
with major regulatory bodies. The client’s assets are further protected by
using the IC Digital Bank account to store the fiat currency, and the IC
Brokerage account to store the traditional assets. The IC Wallet application
will also include a custom dashboard that portrays the total value of all the
different assets allocated in the IC Bank (fiat account balances), IC Brokerage
(Stocks and commodities portfolios), and cryptocurrency balances.
IC Wallet users who trade
crypto against crypto can transfer their assets between IC wallets safely and
smoothly on the blockchain through a set of procedures that will verify all
legal requirements such as, KYC, AML and multi signature. Crypto traders will
be able to trade traditional assets with other individuals (P2P) or through IC
Brokerage from markets like NYSE, NASDAQ, CME, etc. As IC Wallets and order
requests are entered by the user on IC Exchange, the order matching software
will match all the buyers and sellers together depending on the best bid and
the best ask orders in order to ensure that the execution of the trade occurs
with the best available market price and in an efficient timely manner as the
IC Exchange will have an IC Liquidity pool as well as API connections to the
top exchanges which will be accessible to all investors.
IC Wallet holders who are
wishing to exchange any type of crypto to any type of their preferred fiat
currency, are able to do so through requesting the order from the IC Exchange’s
platform which will release the order and once completed, directly deposit the
fiat fund into the users’ IC Bank. As users enter their wallet address and
their trading orders if they are trading crypto/traditional asset pairs, the IC
Exchange order book will match the best bid and the best ask orders and connect
the users together to complete the transaction, once the order is filled the
software will complete the swap and deposit the funds and assets in their
respective destination.
The IC Digital Bank is
fully integrated and cohesive with the IC Wallet, IC Exchange and IC Brokerage
to guarantee the quick and safe movement of funds between clients’ bank
accounts. Traditional assets are stored in the IC Brokerage account, fiat will
be stored in the IC Bank and cryptocurrencies will be stored in the IC Wallet.