Listed on exchange: cV token’s journey to the Moon has started
It happened sooner than we said and faster than community probably thought — carVertical token was listed on KuCoin exchange only a week after completing the ICO! What is more, Tesla Model S was announced as the main prize for trading promotion.Established in Hong Kong, KuCoin has recently become one of the most favoured exchanges within the crypto community. It’s no surprise that carVertical tokens (cV) started their journey here — lately, KuCoin is listing only prominent tokens, leading to a price increase for every token that is listed.This sounds ambitious, but we feel confident for a reason.
A pleasant flight
Being the first global blockchain-based car history registry, carVertical has already proven its significance during the ICO. We built strong community, so 3 weeks were enough to reach the $20 mln. Hard Cap. This sounds even more impressive knowing that all contributions came from individual community members, without any whale investors.Since cV tokens were listed on exchange, an invisible hand of cryptocurrency market takes the lead now. But there are a lot of signs the trip will be nice for carVertical.Primarily, audience needs our services. We get this message every day from our community which exceeds 11K members in Telegram channel alone. So, carVertical’s team is already developing products to solve real problems for car buyers all over the world. Watch our engineers Audrius and Arūnas talk over development progress in development update #2.In line with our experienced and dedicated team a wonderful advisory board stands, including former Tesla Motors executive, BMW group representatives, CTO of OLX group, cyber security strategist of New York City, etc. Feel free to admire a full list here.
Let’s talk facts
Naturally, we have some subjective arguments why carVertical value should grow in the nearest future.
- carVertical is projected to start generating revenue from its products in June 2018. In five years period, the turnover is forecasted to reach the level of €27,2 mln. with EBITDA of €10,5 mln.
- cV token should be the only way to buy carVertical services. Therefore, staking comes in place: person who owns more cV tokens gets significant discounts when buying our products. That means cheaper API calls, reports, white label, car insurance and other services.
- Token value will directly correlate with effectiveness of our service. It will grow exponentially with the number of users we will onboard. Broadly speaking, carVertical service effectiveness will be determined by the efficiency of our machine learning and mathematical models. The more users come to carVertical, the more data we generate. The more data we operate with, the better machine learning and mathematical models get. This in turn attracts new users and magical wheel never stops.
- As you already have seen in this post, carVertical developers are already building the product. We’ve already signed an agreement with Diginet, biggest classifieds website group in Baltic states, to deliver white label solution for their auto classified sites. And it’s just a beginning. We announce big news constantly.
- It is inevitable that all national and privately held registers will move to blockchain in a few years. carVertical plans to be the first one “sitting at the table”, when governments and big companies come searching for decentralization solutions to fit their needs.
Future has already begun
Furthermore, carVertical project is backed by European Union and also has gained more support at institutional level lately. A few days ago, we signed a partnership deal with Regitra, Lithuania’s national operator of the Registry, to receive vehicle data from centralized database. It is a unique case of centralized data partially becoming decentralized — something that carVertical is aiming for.So, it seems we’ll have a really nice trip. It might even be a trip to the Moon.