[NEWS] What is IOI? Mining Token Overview of the project27 April 2020
What is IOI?
IOI is a cryptocurrency social trading and tracking platform that adds an element of gamification and gambling. On IOI, you can trade cryptocurrencies, track your portfolio, follow the best performing traders and copy their trades. Traders may bet on themselves and compete against each other in 24-hour long trading contests known as races.
IOI is a smart application for everyday use that is combining 4 great ideas in one: Trading, Tracking, Gaming, and Gambling. When you survey the situation in markets called either Bear or Bull market, you necessarily deal with questions such as: How to join the crypto market? Who to follow? How to choose the best coin for investment? Obviously, you believe to get the most useful pieces of advice from trading groups, influencers, social sites or your friends familiar with the crypto space. But is that really the way to go forward with your investment?
IOI was created to solve your needs in the most professional way.
Many trading groups are more or less trying to scam people or publish unverified information about profits and they never show losses. The crypto market is complicated for most people and it is likely some people will never understand it. However, as the past cannot be changed, its time to change the future. The youngest generation spends most of their time on the Internet, mobile phones or pc devices. They are eager to earn money but not in a conventional way — in regular jobs. Instead, they choose to educate themselves in markets and follow trends. Whether you accept it or not, blockchain is the future of technology trends.
IOI is a social trading platform that connects cryptocurrency traders.Cryptocurrency traders can get in touch and learn from each other, while casual crypto traders pay a subscription to copy the trades of the more experienced traders, who are known as racers.
Cryptocurrency exchange and tracking
On IOI, all users will be able to purchase or sell various cryptocurrencies. IOI will also provide tracking for every cryptocurrency it offers, similar to popular cryptotracking apps such as Blockfolio and Delta.
IOI will utilize elements of gamification to give the complex world of crypto trading afun and relatable format; a car racing game in which the performance of a coin fuelsthe progress of a race car. Race winners will receive points which they can exchange for various features and abilities on the IOI platform
IOI X will be the premium version of IOI that features an element of online gambling. Players will be able to bet on races on the IOI platform
IOI is a blockchain-based cryptocurrency social trading platform. You can trade cryptocurrencies, track your portfolio, learn valuable insights from other traders, copy the cryptocurrency trading of experienced traders (RACERS) and choose between being a FAN or a RACER.
A racer is a trader who participates in a race. In the race, traders compete against each other to make the best possible trades, to gain additional edge get a boost to increase your engine horsepower.
Become a Racer, earn a profit every day and enter crypto trading races to compete for wins&fans.
THE IOI SOLUTION
IOI is a blockchain – based cryptocurrency social trading platform. You can trade cryptocurrencies, track your portfolio, learn valuable insights from other traders, copy the cryptocurrency trading of experienced traders (racers) or become a racer.
IOI intends to be the most enjoyable way of trading, tracking and growing your cryptocurrency investments. Users will be able to participate in social trading with other crypto traders, copying their trades and making the best trades alongside them. Fans and racers may participate in races. Premium users may gamble on various outcomes in the crypto market on the IOI X platform.
A FAN is a user that decides to follow a RACER.
Thanks to live statistics that are updated and verified on a daily basis, users can easily filter out the best performing RACER and become their FAN. A user becomes a FAN by selecting a RACER from the weekly leaderboard (ideally choosing the best performing RACER) and paying a 5$(in crypto)subscription to the IOI platform thanks to which they become that racer’s FAN. In return, FANS receive updates about the RACER’s fuel (trades), and they can contact the RACER and discuss trades or races, copy their trades and they receive instant news about the daily top performing coins. When a RACER wins a race, 10% of their winnings will be redistributed between their FANS.
There will be 2 FAN subscription packages:
1) Follow the RACER for the whole month, instant tips and 7 days everything will be visible on the platform(racers, tips) — 5USD
or 25usd subscriptiom
2) You can follow up to 5 RACERS, instant tips and enjoy a full month of full stats, tips and RACERS statistics visibility
A RACER is a trader who participates in daily 24-hour trading races.
A race is a 24-hour cryptocurrency trading contest in which two or more traders compete against each other using their racing cars, the goal being to accumulate a certain total value through cryptocurrency day-trading. Races are free to enter and the top 10 weekly RACERS will win various rewards from the collective prize pool. As a RACER, you cannot lose more money than the amount you bet on yourself. For instance, in case someone in the race bets more ($15 USD) than what you placed ($5 USD), they will only be able to win $5 USD, and should they lose, they will only lose $5 USD.
There are five ways of entering a race:
1) Place a minimal bet ($5 USD in crypto) on themselves to participate in a RACE.
2) Top 10 RACER from last week (can win the prize and attract FANS)
3) Top3 qualificant from last week(can win the prize and attract FANS)
4) Free entry RACE (can’t win the prize but can attract FANS)
5) Qualificant new users(can’t win money but can attract FANS)
A race is a cryptocurrency trading contest in which two or more traders compete against each other using their racing cars, the goal being to accumulate a certain total value through cryptocurrency day-trading.
Daily races will start at 15:00 CET. Racers must join at least 30 minutes before the scheduled start of a race. The race lasts for 24 hours, ending at 15:00 CET the following day.
24-hour race will start at 15:00 CET. Racers must join at least 30 minutes before the scheduled start of a race. The race lasts for 24 hours, ending at 14:00 CET the following day.
3 MINUTE RACES
Starts every 5 minutes. There are 2 options to start this race. 1st is play for money, when you bet to win the prize pool. 2nd is play for free, when you don’t bet to win the prize pool.
There are 3 ways of entering a race. A racer may:
1) Place a minimal bet 10 TRX on themselves to participate in a RACE.
2) Free entry RACE with guaranteed prize pool.
3) Bonus RACE – 10% of the sold IOI tokens denominated in TRX will be used each month as a special Bonus RACE.
For more information, go to section BONUSES
There is a minimal bet of 10 TRX. IOI platform have a 5% operational fee, 5% team bonus fee and 5% affiliate fee, which will be charged from the race’s prize pool. A race will have a minimum of 2 participants. A racer may enter up to 7 cars into race.
The objective of a race is to accumulate a certain amount of return on investment (ROI), meaning that they purchased cryptocurrencies at low prices and sold them at higher prices.
This is split between bonuses for you and development to provide cool new features on the platform – 15% • 5%Developmentandmarketing
RACER IN TEAM
Top 10 players from TOP 3 teams will receive a special Team Bonus. For more information go to section BONUSES.
Racers need a car to participate in a race. Initially, a new racer will be given one basic car. Each race requires 1 car, so if a racer wants to participate in 2 races within the same window, they must have 2 cars. There are 6 additional cars that can be either purchased or gained through race wins:
THE IOI TOKEN
The IOI token is the cryptocurrency at the core of the IOI platform. IOI tokens are used to purchase upgrades, and to buy and rent cars on the IOI platform. Users receive IOI tokens as a reward for bringing participants on our platform.
You can buy IOI token packages:
Investors can purchase a total of 30,000,000 IOI tokens. There will be a total of 100,000,000 IOI tokens.
Unlike other ICOs that try to sell an idea but have no real working prototype, we won’t begin the ICO until we have a live minimum viable product (MVP) version of the IOI platform.
TOKEN STRUCTURE & USAGE
total supply ………………………….. 100 000 000
REWARD FOR PLAYERS ………….. 50 000 000
Team ………………………………………. 20 000 000
FOR SALE ……………………………….. 30 000 000
Unsold tokens will be burned.
The IOI token is used to purchase various upgrades on the platform, including additional cars. All users receive IOI tokens for spending money on the platform.
Each racer receives a reward in IOI tokens when he or she overcomes a certain limit of purchased IOI tokens on the platform.
IOI TOKENS MINING
Depending on how many TRX are used on the platform, a bonus IOI token is generated for the user. Purchase of IOI tokens on the platform is not included in use.
Example: In Level 1, each user will generate a bonus IOI token using every minimum of 1000 TRX. When a cumulative 1 million IOI tokens are used on the platform, Level 2 rules of 4 million IOI tokens become applicable, as shown in the attached table.
Author : phungploi