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About

Cindicator is an analytical platform that aims to help people to make market decisions (among others for cryptomarkets), especially in a context of high uncertainty. The platform is implemented using the “hybrid intelligence” technology (see more details below) and the founders underline that Cindicator is different from prediction markets such as Augur and Gnosiswhere other mechanics and economic incentives apply.


Implementation

  • Problem being solved
  • The issue of investment decision-making under high uncertainty is a relevant one since the amount of information has been increasing every year and even experienced traders admit that markets do not follow the old rules any more. The founders show statistics for 2015 when the market of predictive analytics was $4 billion. In 2022 the market is forecasted to grow sixfold.
  • Platform users will be traders, investors, forecasters, analysts, and data scientists. The platform should allow its users to monetize their intelligence as well as improve their analytical and forecasting skills, and broaden their mind. Token holders will be able to access the following tools: indicators of traditional and cryptomarkets, information on the market sentiment, internal analytical products and products for trading such as Telegram and Slack bots, notifiers, and portfolio monitoring tools.
  • How it will work
  • Users make forecasts (at no cost in contrast to betting on prediction markets) and get points for the accuracy of their forecasts. These forecasts are then processed using the machine learning and artificial intelligence technologies (e.g. cleaning, clustering methods, linear regressions, Bayesian models, xgboost on decision trees, genetic algorithms, and neural networks).The system calculates the deviations and the accuracy of the forecasts of each analyst, changes their trust coefficients and provides trading strategies and models for the profit maximization.
  • The solution is centralized, both from the technical and organizational point of view. Ethereum is used for token issuance only. As to the organizational structure, the founders are planning to move away from centralization to a decentralized ecosystem of data-scientists, traders and analysts who will enrich the hybrid intelligence ecosystem with their intellectual contributions.
  • The project is implemented using the following programming languages and frameworks: Python, Scala, R; Django/Flask/Tornado, Postgres, MongoDB, Re-dis, MS Azure, Hadoop, Spark.
  • The source code will not be available, except for the code of some products such as a spreader bot for Telegram, which monitors the exchange rate differences for the main cryptocurrencies on various exchanges.

Economics and token

  • Platform’s native token is: CND token, ERC20 compliant
  • Total supply: unknown
  • 1. Incentives for analysts: the more accurate analysts’ forecasts are, the higher rewards in CND tokens they get, meaning that their financial compensation will correlate with the overall performance of the ecosystem
  • 2. CND token holders will be given different levels of access to the platform’s products and tools. The access level and the set of the platform’s products and tools token holders can enjoy, as well as their potential return on investment, will depend on the number of CND tokens they hold
  • Performance fee
  • Market majors will have to pay regular performance fees as a share of their potential profit. The collected fees will be used to buy back CND tokens on the markets using them to motivate all active participants of the ecosystem (forecasters, traders, data scientists).
  • A certain amount of funds raised during ICO will be allocated to an open trading portfolio. A part of its potential profit will be distributed between users (forecasters) in CND tokens depending on users’ rating and the accuracy of their forecasts during a given period of time. Another part will be used to buy CND tokens back from token holders at a market price.

Team

The founders Mike Brusov, Yuri Lobyntsev and Artem Baranov have a strong entrepreneurial background, among other in artificial intelligence and financial markets which are areas relevant to the current project. At the same time, for none of the team members a proof of a successful blockchain experience has been found.


At the moment, the team consists of traders, analysts and mathematicians who develop various approaches to data analysis and test different trading strategies. Most of them are graduates from the top Russian universities.

ICO

  • Platform’s token CND is offered for sale
  • Pre-ICO: finished in mid-August, $200,000 raised
  • ICO is for registered participants only (you can register here, more details available on this page)
  • 75% of total supply will be sold during ICO
  • ICO starts on September 12, 2017, 13:00:00 GMT and will last until October 12, 2017, or until the max cap is reached, whichever earlier
  • Max cap for contributions: $15,000,000
  • Accepted currencies: ETH
  • Token ICO price: 1 CND = $0.01, no bonuses
  • Token distribution
  • ∼ 75% — token sale contributors
  • 20% — Cindicator company, with a vesting
  • ∼ 3% — advisors and partners
  • 1% — bounty campaign
  • 0.2% — current Cindicator forecasters, proportionally to their current rating

Conclusion

  • The token’s utility is quite clear: internally — the access to services, externally — the increase of the token market value by increasing the number of the platform users and buybacks on the market, along with the limited issuance model
  • There are no direct competitors; the advantage over Augur is that Cindicator users do not have to put their funds at risk
  • Cindicator has a Minimum Viable Product, successful previous funding, a positive track record on the markets (for example, http://www.moex.com/n15142), but this is not an open source project and it does not run on a blockchain; besides, using the blockchain does not give the project any obvious advantage
  • In order to ensure a large enough sample and the accuracy of forecasts, much more users are needed than the declared 10,000; incentives for users are not clear, there is no detailed information regarding the rewards amounts and the user involvement strategy; the share of funds raised during ICO that should be spent on user involvement is relatively small
  • According to Cindicator`s Disclaimer, the total CND token supply is not limited by this token sale. In case of additional CND token issuance in the future it could dilute the share of the current investors and affect the market price of CND tokens

Useful links: website, whitepaper, blog.


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