Crystal Token proposes an innovative smart investment model that offers multiple investment plans for traders who desire a reliable source of passive income. In order to make this a reality, the network has created a multipurpose utility token to facilitate a number of platform services.
The Multipurpose Token
The Crystal Token (CYL) creates revenue for the platform as well as its investor community in the following ways:
Automated Trading
Crystal Token’s core business is that of automated cryptocurrency trading using a specialized bot created by the platform’s research team. Using machine learning techniques and predictive analysis, the bot combines different trading strategies and is able to adapt to prevailing market conditions.
Trailing stop trading technique is among the mechanisms the bot will employ to retain digital assets when prices are increasing and sell them when prices start to drop. Taking advantage of such price increments and minimizing loss will provide reasonable profit margins for traders.
A second technique, arbitrage, involves tracking the differences in digital asset prices across exchange sites. The method exploits these price margins by buying at the lowest rate and selling on an exchange with higher rates. Considering the small margins involved in such trades, success depends on the speed of execution and the automated process on this platform makes it potentially effective.
The Virtual Staking Concept
This is a form of smart investment whereby traders get to invest CYL with the aim of generating varying daily amounts of passive revenue. Like most other trading operations on this platform, virtual staking relies on the automated trading bot.
Tailored for investors looking for an opportunity to get passive income, the program offers different plans based on the range of investment. Daily interest rates can go up to a maximum of 2% under this plan based on the amount invested, trading operations carried out and market volatility.
Under this program, investors get to choose between investing in CYL tokens and VCYL. CYL is the platform’s main ERC20 standard token which will be offered during the token sale and can be exchanged for ETH.
On the other hand, VCYL is a virtual token that the network will use to pay out interests and bonuses. Its value at any given time will be 1VCYL=0.001ETH. However, traders can withdraw it directly in ETH at half its value, 1VCYL being equal to 0.0005ETH. Another alternative would be to convert it to CYL at market rates. The best part about its value being tied to ETH is that a VCYL contract value will increase every time ETH rises in value.
Internal Exchange Platform
Another innovative provision on the network is an internal exchange platform which will operate on the concept of the time window. Crystal Exchange will manage to buy and sell transactions between CYL and ETH. Every single one of these transactions will fall within a specified time window which will run for six hours.
During any given time window, an investor who decides to buy or sell CYL tokens can do so without having to specify their desired price. Instead, CYL token value will be determined by the level of demand and offers within the time window. The essence of this is to reduce the incurrence of short-term high and low price peaks, thus facilitating stability. At the same time, a limitation placed on the number of tokens a user can sell within a window will reduce dumping by currency whales.
Other services offered on the Crystal Token platform will include:
Advertising campaigns for projects, ICOs and products
ICOs and projects will be able to advertise on the website, in a dedicated “Featured Projects” page, and in the Telegram groups. Advertising services will be paid in form of CYL tokens.
Gaming and betting activities
Crystal Token will propose a selection of exciting games which will stimulate the creativity and the engagement of the community, enabling them to play and win prizes in form of CYL tokens.
Trading as a service
Customers will have the opportunity to perform automatic multi-currency trading, by investing CYL tokens on the platform, at the cost of fees applied on the profits generated.
Hosting marketplaces for goods and services
It will be possible to sell and buy goods and services, using CYL as a currency.
Community pooling
Crystal Token users will have the opportunity to organize themselves as a pool, in a straightforward manner and directly on the platform, to accomplish to various initiatives.
Debit card distribution in the long-run
In the long term, the platform aims to distribute debit cards which would allow loyal users to spend their tokens directly in the offline shops.
Special Features of the ICO
Crystal Token has planned a revolutionary Initial Coin Offering (ICO) that breaks away significantly from tradition. Comprised of three stages and a final sale, each session is broken down into batches with incremental token prices.
On every single day, a random number of CYL tokens will be available for sale at a random time and at the end of this period, any unsold tokens will be burned. Instead of using smart contracts, token buyers will just have to deposit BTC or ETH directly onto the dashboard, making the purchase process very easy. Indeed, deposits are automatically converted into CYL on a first-come-first-served basis. If all the available tokens are sold out in a given daily round, remaining deposits are queued for the subsequent days.
Immediately after buying tokens, users can start staking on the virtual staking model even before the ICO ends to enjoy passive income right from the start. And at the end each daily round, the platform distributes 10% of the ETH received in form of VCYL to users holding, not staking, CYL tokens on the dashboard.
The ICO has been running since April 27th, 2018 and is scheduled to end on August 31st, 2018. During this period, a total of 7 million CYL tokens will be sold to the public. Additional details on the project and its ICO are available on the official site.