About Cobin Hood
COBINHOOD is a cryptocurrency service platform for the
blockchain era. The first
service launched by COBINHOOD is the world’s first zero fee
high-frequency
cryptocurrency trading exchange that solves existing
problems of cryptocurrency
exchanges. It provides spot trading and margin trading with
ZERO trading fees to
maximize traders’ profit and market liquidity.
COBINHOOD also provides ICO underwriting services to solve
the problem of ICO
token liquidity issues.
With the advance of blockchain technology, more and more
people are migrating from
fiat-based financial system towards blockchain-based
financial system. Since January
2017, the cryptocurrency market cap has increased from 7B
USD to 110B USD in July[1].
Moreover, cryptocurrency trading volume exceeded stock
trading volume by August
2017. However, existing cryptocurrency exchanges are not
able to handle modern
trading demands.
Existing ICO Issues
In 2017, funds raised through ICOs increased from 5.6M USD
in January to 987M USD
in July[3]. This activity is expected to exceed 200B USD in
2020. Although ICOs are
increasingly popular as a means of fundraising, some
problems with ICOs remain
unsolved.
Low Liquidity of ICO Tokens
The most serious problem for ICOs is that ICO tokens cannot
be immediately traded in
exchanges after their ICO. Low liquidity of ICO tokens means
ICO tokens’ bid-ask
spread is large, which further reduces their value.
In addition, it required an intimidatingly high listing fee
to list a token on one of the
world’s top 10 exchanges. The listing fee is often as high
as 500 to 1000 Bitcoin.
As a result, traders have no choice but to resort to the
secondary market, which has low
liquidity and large spread for trading ICO tokens. This has
imposed significant obstacles
to the overall development of the cryptocurrency market.
ICO TOKEN DISTRIBUTION
ICO FUNDS USAGE
Features of COBINHOOD Cryptocurrecny Exchange
ZERO Trading Fees
COBINHOOD features ZERO trading fees for spot trading and
margin trading with up to
10x leverage to maximize the profits for traders all over
the globe.
100% Reserve Guarantee
COBINHOOD guarantees 100% reserve. It will also disclose all
online and offline wallet
addresses for public audit, ensuring no embezzlement of
traders’ funds.
Offline Multisig Wallet Security System
Every kind of crypto assets deposited at COBINHOOD will be
stored in an offline
multisig wallet. It is estimated that 98% of assets will be
stored offline, while 2% of
assets will remain in an online wallet allowing for faster
user deposit/withdrawal
experience.
Each offline multisig wallet consists of 8 HSMs (Hardware
Security Modules). This
means that transactions which use the multisig wallet will
require 5 out of the 8 HSMs
to proceed. If one of the HSM administrators is compromised,
the multisig wallet will
remain secure. Furthermore, the administrators of the HSMs
are located in different
countries (geo distributed) adding to COBINHOOD’s security
system.
Crypto Assets Backed by Insurance
All crypto asset deposits in COBINHOOD’s online wallet will
be backed by insurance.
Since offline multisig wallet is virtually impossible to be
compromised, all users’ crypto
assets will be fully covered.
Two-Factor Authentication Enforcement
COBINHOOD enforces two-factor authentication (2FA) to log
in. Withdrawal of crypto
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