AICOIN (XAI) is an ERC-20 token structured as an investment collective which was brought to market as an ICO sponsored by First Global Credit. In the summer of 2017 by the founders of First Global Credit, a cryptocurrency capital markets company.
AICOIN uses a two-tiered investment strategy executed for the benefit of the collective owners holders of the token. It also allows token holders, referred to as ‘The Collective’ with as well as providing the collective voting rights on the direction of the investment strategy.
After successfully raising the equivalent of 3 million USD in various cryptocurrencies in during the Initial Coin Offering (ICO), AICOIN started trading in the secondary market on September 3rd, 2017. Rather than pay for inclusion on a cryptocurrency exchange, which is the only avenue open to smaller tokens, 77,285,926 XAI began on the AICOIN founders decided to create a space within the AICOIN dashboard where the token could be traded. The plan is to seek inclusion on exchanges after the strategy has yielded profits. The higher profile afforded through a proven strategy will make the token an attractive addition to exchanges without cost to the token holders once the strategy has been proven.
Pre ICO June 16 – July 16
AICoin ICO July 17 – Aug 28
The AICoin ICO was priced at 100,000 per one BTC. The hard cap on tokens will remain at 77,285,926 XAI. The XAI token is an Ethereum-based token that gives holders ownership to a proportional share on the tokenized investment pool.
AICOIN uses artificial intelligence to actively trade the top cryptocurrencies with 100% of the pool of capital acquired during the ICO. The second tier of the strategy is an ‘investment pool’ where profits generated from cryptocurrency trading will be invested quarterly in start-up companies with a focus on AI or blockchain.
The investment board, consisting of 2 members of AICoin management, 2 members of the AICoin Collective and a board advisor, currently Bitcoin Foundation Founder, Jon Matonis choose from a series of proposals to create a list of 5 which are presented to token holders. Token holders will vote to invest in one of the proposed projects or select a 6 th option, to retain funds in the Investment Pool during the current quarter.
PerformanceResults of trading, pool totals and performance are delivered to The Collective weekly through management reports available on the aicoin.io blog. During weeks where new equity highs are achieved, 40% are return to the trading pool, 50% of the profit is placed in the investment pool (held in US dollars) and 10% is issued as a management fee to the founders.
The trading models have an overall return and a higher Sharpe Ratio than bitcoin. This indicates that the model has a lower beta and a positive alpha next to holding a BTC position alone. This is achieved through the diversified holdings of the trading pool which do not correlate to BTC market movements.
At this point the start-up investment strategy has yet to be executed so its results and cumulative effect to the overall value of AICoin is as of yet unknown.
AICoin is an ERC-20 token which uses the smart contract properties to allow The Collective to vote with 100% transparency on issues concerning investment direction. The smart contract is open to public review at:link
The project code is found on GitHub at link
AICoin was created to provide a vehicle which diversifies risk in the cryptocurrency markets and also takes advantage of start-up company opportunities for the benefit of The Collective.
Token holders benefit of an automatically managed portfolio that uses artificial intelligence and the combined wisdom of the collective to achieve growth in the net asset value of the token. The price of the token is determined by the open market. The market price is not tied to the Net Asset Value (NAV) and can trade at a premium or discount to value.
- The crypto trading pool is managed 24 hours a day, seven days a week by proprietary artificial intelligence deep learning algorithms. Models compete among themselves with the best performing taking the role of leader until it is displaced by one with better performance.
- AICoin is accepted as collateral on the First Global Credit exchange. There it can be used to fund trading in 500 different stocks or ETFs. It can also be traded against bitcoin.
- As an ERC20 token, AICoin can be secured in any compatible online, hard or offline ether wallet.
- Through a smart contract voting system token holders vote on investment proposals, and other issues that influence the direction of the Investment overall.
- Information on the NAV for the underlying assets held on behalf of The Collective (with a 48 hour delay on holdings and trades), along with executed trades and analysis of holdings are available on the aicoin.io site and dashboard.
GAVIN SMITH CEO First Global Credit Risk Management/Product Specialist, AI Development Group.
Gavin has a 25-year history in finance starting as a market maker at London’s LIFFE Exchange. He has worked for a variety of banks and financial companies. Most recently before starting First Global Credit he was the global derivatives and hedging project owner for Trafigura, one of the world’s largest metal traders. Responsible for developing a strategic roadmap for implementing hedging and derivative solutions within Trafigura globally, his responsibilities include a broad range of products including Metals, Oils, and Coal as well as FX and Interest Rate exposures across Trafigura globally.
MARCIE TERMAN COO and Founding Director, FIRST GLOBAL CREDIT
Marcie spent 15 years as a news editor at PBS’s NewsHour before moving to London to work at a financial service company. At Allegiance Global Investments Terman became a licensed Commodity Trading Advisor (CTA) and headed the communications arm of the company. She has run businesses since she started her first company in 1990.
JON MATONIS Board Advisor
Founding director of the Bitcoin Foundation, writer and speaker at many international blockchain events. Jon is a seminal force in the blockchain community and works hard to drive the adoption of public blockchain to mainstream industries.
JOE BELMONTE Marketing Director
Joe holds a master’s degree in Advertising from Northwest University and had a long career as a C grade executive at a number of international advertising firms. He has had a successful career managing international brands for dozens of companies that have become household names.
ANDY TYNAN Senior Developer
Andy is a developer with a 25-year history of working at banks and companies like Openlink financial.
LEE COOPER Senior Developer
Lee has a 17-year history in development at the highest level. He also comes a background at Trafigura. Lee has a highly analytical and innovative mind. He is an enormously productive and competent developer who has the ability to scope out a software solution from problem definition through to client GUI interface.