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Security Type
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SAFE
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Categories
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Financial Services
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Location
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San Diego, CA, CA
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Offering Date
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July 09, 2018
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Expected Close Date
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October 07, 2018
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Target Raise
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$1.07M
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Deal Notes
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- Future Equity (SAFE)
- $10M valuation cap
Company Description
Hackers have stolen almost $10 billion in Bitcoin in the last few years, and centralized exchanges are to blame. By holding your tokens in a single vault during each transaction, they create a single point of failure, a weakness hackers can easily exploit. The market wants a secure way to trade. At Altcoin.io, we’re building a decentralized exchange that puts safety first: you stay in control of your coins the entire time. Already, 110,000+ traders have pre-registered since September 2017.
Perks
$500+ Free Altcoin.io T-Shirt and signed "Thank You" card
$1,000+ Free trades for life on our exchange when launched
$5,000+ Framed stock certificate of your Altcoin.io investment
$10,000+ A few hours spent with our development team to utilize the Altcoin SDK
$20,000+ Receive 1% of our net trading profits for 1 month upon launch
$50,000+ Receive 1% of our net trading profits for 3 months upon launch
Key Deal Facts
110,000+ pre-registered users
Founder named 30 Under 30. Grew previous company to 100+ employees
Centralized and less secure competitor Coinbase earned $1 billion last year.
Founder's two previous companies acquired
First DEX to implement a Plasma-like sidechain solution
Featured on Bitcoin.com, Coindesk, CoinTelegraph, Cryptovest, and more
Accomplished and open-sourced world's first Ethereum and Bitcoin atomic swap
Use of Proceeds
If we raise: $400,000
- 95% expand engineering team, perform 3rd party security audits & bug bounties, additional legal counsel, expand operations/support team, and create internal marketing team.
- More specifically we'll be looking to hire 2-3 new engineers, ~$100k will go towards security tests, ~$100k towards legal counsel, and we'd also hire 3-4 new individuals for operations/support/marketing roles.
- 5% Wefunder Intermediary fee.
If we raise: $1,070,000
- 95% expand engineering team, perform 3rd party security audits & bug bounties, additional legal counsel, expand operations/support team, and create internal marketing team.
- More specifically we'll be looking to hire 3-4 new engineers, ~$200k will go towards security tests, ~$100k towards legal counsel, and we'd also hire 4-5 new individuals for operations/support/marketing roles.
- 5% Wefunder intermediary fee
Management Team / Advisory Board Bios
Andrew Gazdecki
CEO and Co-Founder
2014 — Inc. 500 #58 Fastest Growing Company, 2015 — Inc. 500 #91 Fastest Growing Company, 2017 — Inc. Magazine’s 30 Under 30
Sulejman Sarajlija
CTO and Co-Founder
Enthusiastic about blockchain and cryptocurrency. B.S. Software Computer Engineering.
Deal Notes
- Future Equity (SAFE)
- $10M valuation cap