Have you ever traded in share market? If your answer is Yes, then you must be knowing that we've index of shares like NIFTY and SENSEX (in India) which is backed by the top 30 stocks in case of SENSEX and top 50 in case of NIFTY. This is the reason people generally call NIFTY as NIFTY 50. Every single stock market on earth has what people call it INDEXES.
But we don't have this liberty or benefit in cryptocurrency trading, right?
Imagine, buying a single cryptocurrency and literally investing in the top 30 cryptocurrencies. Wouldn't that be really great?
Triaconta, a company which is launching a unique coin named Combicoin, which is a combination of cryptocurrencies (as the name implies). It is a really interesting cryptocurrency which is being launched alongside TRAI tokens. Buying a single unit of this cryptocurrency will allow you own shares in top 30 cryptocurrencies.
Isn't this great, buying a single unit of Combicoin and investing in all the 30 cryptocurrencies. Combicoin has made this a possibility.
To make this idea a reality, Triaconta, the parent company of CombiCoin is starting an Intial Coin Offering.
Funds raised by them will be used to develop trading software which will monitor the prices of the top 30 cryptocurrencies across all major exchanges and will keep the price close to the prices of the top 30 cryptocurrencies.
Distribution of Cryptocurrencies
The top 30 cryptocurrencies as per the volume will be added in ComboCoin to set the price.
It will always be 100% backed by the top 30 cryptocurrencies.
The fluctuation in the cryptocurrency will only move/down based on the prices of the top 30 cryptocurrencies.
Benefits of ComboCoin
It will have a high probability of increasing in value.
It will eliminate the risk by diversifying the portfolio.
It will always be 100% backed by top cryptocurrencies.
Tradeable on biggest exchanges.
Ideal for beginners with no knowledge of cryptocurrency
Trading Software
Triconta is developing a software that will be monitoring the prices across multiple cryptocurrency exchanges which will control the price of ComboCoin by monitoring the prices.
ICO
To develop CombiCoin, CombiCoin & TriaToken Foundation is raising funds through ICO by selling the CombiCoin and TRAI tokens. For every USD 10 that is invested in the ICO, the user will receive 1 CombiCoin and 1 TRAI token.
The prices of CombiCoin will grow according to the prices of the cryptocurrencies backing it whereas the prices of 1 TRAI token will depend upon the amount of profit the trading software makes. 50% of the total profit generated by the software will be distributed across all the TRAI token holders.
Construction of CombiCoin
Undoubtedly, CombiCoin is an amazing idea and is surely worth an investment because the price of the coin is not going to depend upon the performance of the parent company. It will depend on the existing cryptocurrencies which are doing really good in the market.
As stated previously, CombiCoin price will depend on the market value of top 30 cryptocurrencies which will be monitored by the trading software, developed by Triconta (their parent company). This distribution of cryptocurrencies will be done proportionally. The prices will be calculated in accordance with the ideal weight of 1/30. In case, those cryptocurrencies whose overall weight in CombiCoin has increased drastically due to increase in their price, the cryptocurrency will be partly sold off to balance the weight across the CombiCoin.
Why you should invest in this project?
With the rise of cryptocurrencies, we've been seeing a sudden surge in the number of people getting attracted towards these kinds of investments. CombiCoin is a great way of diversifying your risk and increasing the chances of making money through this. This can be explained using below example,
If we compare the stats of cryptocurrency from January '17 to June'17.
We can see that CombiCoin, had it existed at that time, would have grown up by 6100% whereas the price of bitcoin hardly changed.
This shows that ComboCoin can be a game changer, especially for beginners who will be able to invest without much hassle and will have a chance to grow.
In my opinion, this project sounds really great and it would be really interesting to see how this shapes up in the future.
For more information visit:
Website: https://triaconta.com/
Whitepaper: https://triaconta.com/CombiCoin_Whitepaper.pdf
Written by: Kishan
Ether Address: 0xd09e4C2AB4C42cA5afd1756ad5899634421ABF07
