ICO Analysis: Serenity

During the past few decades, internet connectivity and technological advancement evolved rapidly to satisfy a large spectrum of the digital consumer crowd up to and including finance. The demand for online stock exchange, currency trading and investing has led to the development of thousands of online brokerage platforms and systems all over the globe. However, the lack of regulations when it comes to security and protection exposes the current online market with almost 90% of the platforms being unregulated. This environment attracts ‘scammers’ and creates unhealthy manipulative situations in the sphere, impacting both traders and companies that are involved in the digital markets. Here comes Serenity with an attempt to change that for good.

Serenity’s financial services promise to create an independent marketplace based on smart contracts, where trading records will be transparent and monitored by a blockchain based platform. Blockchain guarantees transparency and lack of affiliation in order to secure traders from misuse of their funds by centralized exchange markets.

In addition to a secure trading environment, Serenity will allow users to buy, sell and exchange CFDs, futures, cryptocurrencies and even shares for cryptocurrencies all in a decentralized fashion, recorded and monitored by the blockchain in order to avoid the possibility of counterfeiting.

Over the last decade, the online trading process has not changed at all. Forex based exchanges attract popularity due to the lack of regulations while at the same time putting traders’ funds at risk since most of these platforms are not transparent (as we have observed, they can influence their users’ actions, freeze their accounts or deny a withdraw request at any time). Only 10% of the online broker companies have a license to provide intermediary services in the financial sector due to the complicated and expensive procedure that can cost from $200,000 to several millions per company, a sum most are not willing to pay. Serenity plans to radically change that approach by creating a transparent regulatory system powered by the modern blockchain technologies.

The Token

The SRNT token, the native currency of the Serenity financial platform, will be used to purchase, sell, exchange and withdraw digital assets within the platform that will consist of a pool of brokers. After the token sale, the user is free to transfer their SRNT into external exchanges in order to trade them for possible pairs of digital assets which the platform might not support at the moment.

At the pre-ICO, the SRNT token will have a 50% discount and then a 40% to 10% discount during the public sale that will run until March 7.

According to a spokesman for the company, the total token supply will be 400,000,000 SRNT. Anything that will be left behind after the prementioned deadline will be burned. As for the circulating supply, it is not yet fixed and it will be composed after the token sale.

The spokesman tells us that 3% of the funding will be used for bounty rewards and 12% is reserved for the team. As for the rest, we must wait for further official announcements that will take place after the token sale.

Team

At first glance, we can already see a professional team with years of experience in the field. In  words, Serenity is not just another cryptocurrency platform made by GitHub coders.

Project co-founder Stanislav Vaneev is the CEO and founder of Grand Capital, an international level financial services company that has a monthly turnover of $6 billion USD and serves over 300,000 clients worldwide. Anton Vasin (co-founder & COO), has more than a decade of experience in the forex sphere and is also the head of risk hedging department. Denis Kulagin (CEO) is a marketing expert for multiple forex companies in China, Indonesia, Vietnam, and India. Vasiliy Alexeev (CTO) is the man behind UpTrader, a global provider of software for brokers. His ten years of experience are also focused on marketing and product development for various Forex companies.

The list goes on and from what we can see here, Serenity has a legit team with solid financial background and not just a ‘collage‘ of individuals that want to enter the blockchain game.

Verdict

In general, more than 6,000 brokers provide online exchange services using MetaTrader platforms. According to industry statistics, around 4 million traders use their platforms on a daily basis. As mentioned before, only a small percent of these companies are actually regulated and can guarantee a risk-free relationship.

Serenity is the first cryptocurrency focused exchange market that will be regulated and at the same time provide traders the ability to invest in broader options such as CFDs and futures.

Of course, regulations could mean that anonymity will be gone, which was the main reason people invested in cryptocurrencies in the first place. At the same time, this is important for professional traders who make a living out of official and licensed exchange markets. Don’t forget that regulations are unavoidable and they are necessary to establish a trusted relationship between governmental institutions and the crypto sphere.

Risks

  • Taking a look at the Serenity whitepaper can leave more questions than answers, as we had to personally seek assistance from the team in order to understand their token system and other core features. It is not an easy model to understand. -3
  • We still don’t know what 85% of the total funds will be used for and how the distribution benefits the investor or trader on an immediate scale. -3
  • Many new cryptocurrency-focused markets ‘pop up’ every couple of months, but none of them can actually compete with already established titans like Binance, Bitfinex, Bittrex etc. The Serenity team looks great but they will have to prove their unique approach with actual numbers before the end of the year. -1

Growth Opportunity

  • After multiple cases, including the recent DDOS attack on Binance and the attack on the Japanese exchange market Coincheck, a transparent and professional market is needed as soon as possible. This gives Serenitt a golden opportunity to make.a big difference. +4
  • Platforms like Bitfinex already set a minimum deposit of $10,000 USD for new accounts and it is most likely that more exchanges will follow with similar internally generated ‘rules’. If cryptocurrency platforms want to stay under the radar and have a nice flow with their respective governments, they will eventually have to be regulated. Serenity solves that issue from the outset. +3
  • Most online cryptocurrency exchange markets give you the option to exchange between several preset pairs of cryptocurrencies and only with other cryptocurrencies supported by each individual platform respectively. Serenity gives users the option to change their cryptocurrencies into fiat, CFDs or even futures all inside one platform. +4

Disposition

The Serenity team might have some good contacts in the forex scene and Mr. Vaneev’s own Grand Capital has already 300,000 active users that would possible join the new venture, but we must not underestimate “traditional” cryptocurrency markets like Binance which managed to raise 6 million active users in a matter of months.

Serenity can really be a revolutionary step in combining cryptocurrencies with traditionally regulated markets but we must not forget that people choose cryptocurrencies in order to avoid regulations and transparency.

A score of 4 out of 10 is reserved for Serenity, based on present facts.

Investment Details

  • Type: Crowdsale
  • Symbol: SRNT
  • Pre-Sale: Concluded
  • Public Sale: January 25th-March 7th, 2018
  • Payments Accepted: ETH (KYC Required)

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