4,727 investors have invested 1000.02 BTC, over $2.5 million in USD to stand behind CryptoPing, a bot that monitors crypto markets and notifies when an altcoin gets a surprising amount of market action. The project’s ultimate mission is to use market data, statistics, news and social media to produce more precise trading signals and aid in forecasting cryptocurrency markets.
CryptoPing ICO report
Date held: May 25 – June 24, 2017 / Platform: WAVES
9,000,000 PING tokens sold out of 10,000,000
807,221 referral bonus tokens
136,868 discount bonus tokens
8,000 bounty tokens
47,911 tokens will be burned
CryptoPing informed investors that they put an extra 0.01 WAVES into their wallet to offset the commission fee for token withdrawal transactions charged from the Waves wallet.
From today, Cryptopia, a cryptocurrency and altcoin exchange based in New Zealand has already listed PING/BTC for trading. Instructions to move tokens to Cryptopia can be found here. Another exchange which has immediately listed PING tokens is YoBit.
Post-sale supply maintenance
To ensure that the token price remains stable, CryptoPing will keep burning tokens after ICO ends.
From every subscription transaction for CryptoPing, the company will burn a certain amount of transferred tokens: 75% of subscription fees during 6 months after the subscription is introduced, and 25% of fees for a year after that.
A public log will be kept of subscription payments and burned tokens. Every investor will get transparent information about actions undertaken and remaining token supply. Burning means transferring tokens to an address without the private key, rendering them inaccessible.
Service and roadmap
CryptoPing will now start to require small subscription fees in PING tokens to access the signaling bot and other upcoming services.
The project roadmap now sees to it that the following services be developed, news and social feed monitoring, neural network inception, auto-investing app, and programmatic technical analysis.