Abstract
Currently it is not difficult for the community to be able to maximize their income. There are many platforms that users can easily access to maximize their income, for example, such as using an investment company, by using an investment company, users can more easily maximize their income by investing their money in the platform. Users don't need to make trades or other complicated things, investment professionals will use the user's money and invest it in various investment instruments and profit from it.
However, there is a more innovative approach that allows users who want to trade to get funds for their trades. This is Ikan Bilis, which is a platform that helps users get funds for their trades and helps them achieve a successful trader life. However, on this occasion we will not discuss the Bilis Fish, but the DAO system that is in it, the DAO Bilis Fish. This is a DAO system where there will be many crypto features that will support Ikan Bilis in the future.
DAO system
In the crypto world, we are familiar with the term Decentralized Autonomous Organization or commonly abbreviated as DAO, which is a system that allows people to form a safe and fair organization that allows all members to participate by owning governance tokens. Later members who have governance tokens will be able to participate in the governance platform to determine various things. The DAO system is a system that is claimed to be the most secure and fair today because it can form an organization online. Therefore Ikan Bilis was interested in adopting this system and named it Ikan Bilis DAO, which is a system that will support and fund the Ikan Bilis community. Later in Ikan Bilis DAO, there will be many features that users can access for various things, for example, users can bet their tokens, provide liquidity, etc.
Ikan Bilis DAO is a system that will support the Ikan Bilis platform in the future. Ikan Bilis and Ikan Bilis DAO cannot be separated from each other, these two platforms are complementary because without Ikan Bilis DAO, Ikan Bilis platform will not be able to develop and operate.
Problem: Draconian Infrastructure At Tradfi
Retail trade growth is on the up and up and millennials now make up almost 58% of all retail traders in the world. The crypto space has gained market share in growing retail and institutional traders despite the higher costs, price slippage and cybersecurity and legal issues plaguing the space. Nonetheless, more than 54% of retail CFDs use trading tools provided by MetaQuotes Software which are difficult to integrate due to lack of documentation and good talent in the space. Resistance to change can be attributed to a trader's preference to stick to what they are familiar with and the lack of something clearly better. There are also tools available on MT4 and MT5 such as Expert Advisors and copy trading to help people automate their trades and strategies that are not already built into Defi.
Solution: Bridging Tradfi To Defi
Ikan Bilis The goal is to convert the other half of retailers 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. The Bilis fish will build an ark that symbolizes trust and comfort for the masses that will help the migration of those who want to leave the old world to the new world.
DAO
- Will run as DAO. All decisions concerning ecosystem participants and stakeholders are made by voting and are decided by the community holding the $FISH token.
- Drive community growth and engagement through the use of $HERR.
- It will start as a centralized platform with key integration partners such as brokers and data providers and will gradually transform to fully decentralized.
Bilis Fish DAO Features
Ikan Bilis DAO is a DAO system that supports the Ikan Bilis community in the future. The feature offered by Ikan Bilis DAO allows users to be able to stake tokens (HERR tokens) to be able to manage the use of the treasury. Later users will get rewards for their participation. But that's not all, there are several other features of Ikan Bilis DAO:
Fees: one of the products of Ikan Bilis DAO is the HERR token, which is a social token that can be used by users to pay for goods and services on the platform.
Bonuses & Incentives: to encourage users to continue to participate and stay loyal to the platform, Ikan Bilis DAO plans to provide bonuses and incentives to participants.
Budget Proposal: through governance users can submit a public budget proposal by paying 1 HERR.
Liquidity Pool: users can also participate in providing liquidity to the DEX and get rewarded for their participation.
Governance Tokens: these are governance tokens launched as a key to being able to participate in the governance platform. Without these governance tokens, users cannot participate in the governance platform.
Product Overview
This project has an extensive product roadmap committed to building tools to help as many retail traders as possible get better at trading.
This includes but is not limited to simpler 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 technologies that we will continue to build on to help us operate as a DAO as efficiently as possible.
Trading Platforms
At the time of writing, Ikan Bilis v1.0 has taken advantage of the complete suite of tools included with the MT4 platform.
We have partnered with an Australian broker called Global Prime who will offer brokerage services for forex, indices, metals and cryptocurrencies with very tight spreads on the MT4 platform. We have also partnered with MetaApi which will expose an endpoint for us to retrieve statistical data on our trading activity. This service also allows us to take advantage of the copy trading capabilities and MT4 expert advisors which we can turn into value-added services for our future traders.
Despite having a good and stable user interface, MT4 has been around for quite some time and the user interface is starting to pale in comparison to Robinhood and some of the Defi interfaces out there. We do not exclude the possibility of developing our own UI while keeping MT4 as the core of trading and brokerage services. We are also constantly looking for Defi alternatives (eg dy/dx) that might suit our use case and as the team grows we have not ruled out the possibility of developing our own in-house solutions.
Trading Tools
The whole point of the building team at Ikan Bilis is to help traders make timely and more informed trading decisions. This could not have happened without a set of quantitative and automated tools that our traders can leverage to perform better in the market. Due to the lack of good backtrading tools out there, traders often have to be blind to the strategy. This causes anxiety for most traders because they are not aware of the parameters and characteristics of the trading strategy they are using. For the few who manage to achieve profitability without reversing their strategy, their profits are often not optimized and have to compromise for lower profits in order to stay psychologically balanced.
We'll also build tools that can suit a variety of trading styles. For swing traders who don't pay attention to the charts all the time, we will implement a simple SMS/email notification tool that notifies traders about price movements in the market. For traders who want to automate their strategy, we will develop a no-code method for traders to set their trade entry/exit parameters.
Tokenomics
The Bilis Solution is a system designed to find, retain, fund and reward profitable traders while keeping the unprofitable in a safe zone, protecting their capital until they are ready for the harsher live trading conditions.
Prospective traders will first pay a fee to go through the preparation and evaluation stages. During this stage, they will have access to all the educational resources on our platform, which will equip them with the necessary trading tools. Traders can take as much time as necessary to study and practice, and only after a successful evaluation will they be provided with actual funds for trading. This phase is necessary to ensure that only traders who have demonstrated effective risk management strategies and achieved profitability will be able to trade real money.
There are three types of tokens in the Ikan Bilis ecosystem. The $HERR token is used as an in-app currency used to encourage good social behavior and celebrate merchant achievements and can be traded for the $FISH governance token. tokens are used for permission control and perimeter setting on trading accounts.
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 of $HERR tokens to community members
- November 2021 : Launch of V2 ($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 : Homio
Bitcointalk : https://bitcointalk.org/index.php?action=profile;u=2865336
My BSC Wallet : 0x3e9D0A5f1eA321a35AAec9629827123860d7Ea09