A couple of weeks after successful Serenity ICO has finished, we sat down with Stanislav Vaneev, the Founder of Serenity, to talk about how the ICO went as well as gathering his thoughts on it.
Stanislav, can you tell us what it feels like when your ICO project reaches its financial goals?
We are proud of the Serenity team and want to take this opportunity for a sincere word of thanks to the community for all their support and contributions.At first glance, a token sale seems like a simple crowdfunding mechanism.
However, it is worth noting that fundamental operations are not that different from traditional fundraising. A lot of work has been done including trips, meetings with the community, gathering feedback on our judgements and propositions, processing and improving the vision, getting our white paper examined, and creating good and steady relationships with contributors.
What’s different from the traditional fundraising is that after the token sale, you are still fostering a global community who believe in your project. That means your hard work does not end after the ICO. You work thoroughly with your community and the token holders to make them understand what is happening behind the scenes.
Building a platform of such complexity and scope of work as Serenity, requires regular reporting and clarification of each and every stage the project is going through.
Does this mean you feel the rise in community attention after the ICO?
Now the project is being examined by investors and the community. We all understand that a successful token sale is not the end but the very beginning. We are building a long-term business, working for a very much necessary change in the financial industry.
Our community is very active, constantly coming up with ideas, support and also with remarks. In response, we do our best to be transparent, share our vision of the platform, and regularly inform our contributors about the current production stage through the media and our traditional channels of communication.
As we all read from the news and mass media SRNT token is for traders and brokers. In what way Serenity is going to make the financial industry a better place? Can you explain in more detail?
SRNT is the global token for the financial industry. With the SRNT token and escrow system we are going to make financial markets a safer and a more transparent place for traders, brokers, exchanges and all other parties.
Serenity will protect participants with a smart contract which will ensure trading and other activities are conducted according to the market rules and practices and at fair prices so that nobody is hurt or cheated.
Transparency is achieved by recording of the trading operations to blockchain. Recording trades and other operations will guarantee that no trading data is changed, amended or cancelled in hindsight. These fundamental principles of Serenity platform secure the safety of trading for brokers and traders alike.
Serenity will provide everyone with a tool to check the validity of transactions and to dispute trading activity if one of the parties disagrees with pricing or the way trades have been executed. Brokers have always been a kind of backstage companies, closed to prying eyes, and traders have always been vulnerable in the face of brokers.
We are creating Serenity in the way so that traders and brokers are equal counterparties in the system. Basically, they will have equal powers which has never been done before in the industry.
Serenity will accept retail and institutional brokers seeking for transparency and wishing to gain trust of clients. Our platform also creates an opportunity to open up new markets, acquire new crypto audience. Cryptocurrency holders are looking for new opportunities for investing and hedging market risks connected with the high volatility of cryptocurrency assets.
We are creating Serenity the way, so that broker setups are as easy as possible. Brokers will not have to change their business model or any of the business processes. They will offer additional trading account type called Serenity.
To sum up Serenity will provide brokers with the following benefits:
- Participation of a broker in Serenity will dispel trader’s doubts to become a client as trader’s funds and operations become protected. It solves trust issues and brings more Clients;
- The above will amplify brokers marketing efforts and result in a higher conversion rate of marketing campaigns. As well as being a part of the system will give additional positive marketing effect;
- The platform will expand brokers’ audience and bring them cryptotraders that wish to use crypto assets as collateral for their trades;
- As a consequence, broker acquires a rapidly growing positive reputation in the industry;
- Serenity will provide brokers with a cost-effective top-tier liquidity on demand;
- Early adopters that will join Serenity by the end of April will receive a free 2-year membership and significant rebates for using Serenity services;
- Serenity will bring a semi-automated and manual arbitration tools that will make traders feel even more secure.
From traders’ perspective Serenity is the place to get a guarantee on their funds, ability to significantly reduce non-market risks.
I would like to add that more than a half of our contributors and supporters are traders and clients of various brokers, others are brokerage companies. This acknowledges that the fundamental ideas of Serenity platform are fully supported by the whole industry regardless of the market role.
According to the fundraising plan have you decided what parts of the project will be implemented, and what parts will be postponed?
As per our latest data Serenity raised approximately $4 million. This is twice more than our soft cap. But of course, it is less than a hard cap and some of our plans were cut out. After we closed the ICO we sat down with the Board of Directors and outlined what we are capable of implementing with the funds raised.
The exact timeline and roadmap have been already posted and our readers can get acquainted with them on the official Serenity website.
We will develop and implement our core product — Serenity escrow system based on a smart contract. We will also implement our system that will record digital signatures of every broker-trader transaction to Ethereum blockchain.
We will also offer third-party liquidity that will be available to the members of Serenity platform.So, as you can see we will develop most of things we were committed to implement. I am sure that expansion of our development team will give us a boost to deliver all of the above in a shorter timeframe.
Serenity team took part in around 50 different events in several months. Where can we meet your team again in the nearest future?
We have already scheduled our next appearances for next few months. Last week we attended Asia Trading Summit in Shanghai. As for the nearest future, I will be attending Consensus 2018 conference in New York on May 14-16.
The Serenity team will also be on iFX Expo which will take place on 22nd– 24th of May 2018 in Limassol, Cyprus. Our experts are often invited as experts and speakers to different events so please follow our news and we will definitely let you know where we are around the globe.