Ikan Bilis - World's First Decentralized Prop Trading Protocol

 Introduction

It is the Social Currency of the Ikan Bilis DAO that will be used to fund community initiatives, reward behavior for the social good. More community driven features will be up and coming for this token but for now these are the use cases for the token.

DAO

  • Will run as a DAO. All decisions that concern ecosystem participants and stakeholders are put through a vote and decided on by the community by holding the $IKAN token.
  • Incentivizes community growth and interaction through the use of $HERR.
  • Will start off as a centralized platform with key integration partners such as brokers and data providers and will gradually move to become totally decentralized.

Product Overview

The project has an extensive product roadmap committed to building tools to help as many retail traders as possible become better at trading.

These include but are not limited to simpler to use trading interfaces, backtesting tools, smart dashboards driven by AI technology as well as automation tools to help traders manage their workflows. There will also be peripheral technology that we will keep building to help us operate as a DAO as efficiently as possible.

Problem: Draconian Infrastructure In Tradfi

The growth in retail trading is on the up and up and millennials now account for almost 58% of all retail traders in the world. The crypto space has been gaining market share in retail and institutional traders growth despite its higher fees, slippage in prices and the cyber security and legal issues that plagues the space. Despite this, over 54% of retail CFDs use trading tools provided by MetaQuotes Software which are difficult to integrate due to the lack of good documentation and talent in the space. The resistance to change can be attributed to a trader's preference to stick with what they are familiar with and the lack of something obviously better. There are also tools available on MT4 and MT5 like its Expert Advisor and copy trading to help people automate their trades and strategies that are yet to be built on Defi.

Solution: Bridging Tradfi To Def

Ikan Bilis goals is to convert the other half of retail traders to the defi ecosystem. Through the use of behavioral tokenomics, the development of better tools for traders and a more transparent and democratic governance process, we hope to close the gap between Tradfi and Defi. Ikan Bilis will build the ark that symbolizes trust and convenience for the masses which will help migrate those that want to leave the old world for the new.

Trading Platforms

At the time of writing, Ikan Bilis v1.0 has leveraged the extensive suite of tools that comes with the MT4 platform.

We have partnered with an Australian broker called Global Prime that will offer brokerage services for forex, indices, metals and cryptocurrencies at a very tight spread on the MT4 platform. We have also partnered with MetaApi that will expose endpoints for us to retrieve statistical data on our trading activities. The service also allows us to leverage MT4's copy trading and expert advisor capabilities which we can turn into value added services for our traders in future.

While having a stable and good user interface, MT4 has been around for quite some time and the user interface is starting to pale in comparison when put side by side with Robinhood and some of the Defi interfaces out there. We do not exclude the possibility of developing our own UI while keeping MT4 at the core of trading and brokerage services. We are also constantly on the lookout for Defi alternatives (e.g. dy/dx) that might suit our use case and as the team grows, we do not exclude the possibility of developing our own in-house solutions.

Tokenomic

As previously explained, Ikan Bilis DAO has a utility token called HERR, users can get this token easily from supported exchanges. HERR tokens are tokens that will be used for fees, staking and as rewards for users. Later, participants will get rewards in the form of HERR tokens for their activities and users can exchange them on supported exchanges. This is the social token that will keep Ikan Bilis DAO running.

Distribution

The token supply of tokens will be capped at 1,000,000,000 tokens, 20% of which will be sold in the ILO's fair launch offering on Unicrypt. There is and will not be any seed or personal spin put forward before the ILO to stay true to the Ikan Bilis DAO ethos.

  • Name: HERR
  • Symbol: MR
  • Contract Address: 0xaed5E14D8c1c264B21289a238496D7b5840c9013
  • Decimal Place: 18
  • Foundation/Team: 10% with ten year lockout
  • Advisory/Marketing: 25% with lockout over ten years
  • Liquidity/Registration: 10% (liquidity locked in PancakeSwap)
  • Community Reserves & Treasury: 50% (with lockout over ten years)
  • Initial Liquidity Offer: 3% with one month lockout
  • Bounty/Airdrop: 2% with one month lock
  • Launch Price: $0.01

These tokens are created as governance tokens and each token represents an interest in the ecosystem. The $FISH token is not pre-sold nor will there be an initial offer for it. They can only be earned through staking the $HERR token. By using the $FISH token, the community can decide things that affect the future of the DAO. Some of these decisions include but are not limited to monetary policy and the use of treasury funds.

There is no limit to the number of tokens that can be minted but each token is minted exclusively for a specific event. Each token is minted and awarded to funded merchants like NBA rings after passing challenges. At the launch of Ikan Bilis V2.0, there will be a fair allocation of the launch lottery for the purchase of these tokens. Each token awarded will give the trader an unlimited retry of the funded challenge it provides and also take the attributes of the total funds allocated to the trader, the profit share as well as the maximum allowable loss in the account.

Roadmap

  • May 2021: The birth of an idea
  • June 2021 : Ikan Bilis Capital Pte Ltd founded
  • July 2021: Partnership with Global Prime and MetaApi established
  • August 2021 : Launch V1/ White paper released
  • October 2021: Airdrop $HERR tokens to community members
  • November 2021 : Launch of V2 ($FISH and $SHARK tokens)
  • December 2021 : Launch of trader tools (backtrading/price alerts)

For More Information:

  • Website: https://dao.ikanbilis.capital/
  • White paper : https://drive.google.com/file/d/1R0-f4Gf0d7TF6NKT5iXedBsDK0TGnXse/view?usp=sharing
  • Twitter : https://twitter.com/IkanBilisDAO
  • Facebook : https://www.facebook.com/profile.php?id=100069966662252
  • Telegram : https://t.me/Ikanbills
  • Youtube : https://www.youtube.com/channel/UCrba4rNZHtNhfn79FAwjpQg

Author : Amild

Bitcointalk : https://bitcointalk.org/index.php?action=profile;u=2583828

My BSC Wallet : 0xbf00577895715883E63C6694D33dA51b1cDEBDa8

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