Covesting White Paper
Covesting White Paper
Covesting.io
Powerful software
exchanges, trading
apps
Covesting
table
LEGAL CONSIDERATIONS, RISKS
AND DISCLAIMER
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7. Our team 22
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LEGAL CONSIDERATIONS,
The contents of the “Legal Considerations, Risks and Disclaimer” section outlines the terms
and conditions applicable to you in connection with (i) your use of this White Paper and
of any and all information available on the Website; and/or (ii) your participation in the Token
Sale and/or purchase of COV tokens, in each case in addition to any other terms and
conditions that we may publish from time to time relating to this White Paper, the Website
and the COV Token (such terms hereinafter referred to as the “Terms”). The information set
forth in the “Legal Considerations, Risks and Disclaimer” section may not be exhaustive and
does not imply any elements of a contractual relationship. While we make every reasonable
effort to ensure that all information: (i) in this White Paper; and (ii) available on the Website
(all information in the White Paper and all information available on the Website hereinafter
referred to as the “Available Information”) is accurate and up to date, such materials in no
way constitute professional advice. The Company does not recommend purchasing COV
Tokens for speculative investment purposes. Tokens do not entitle you to any equity,
governance, voting or similar right or entitlement in the Company or in any of its affiliated
companies. The Company does not recommend that you purchase Tokens unless you have
prior experience with cryptocurrency tokens, blockchain-based software and distributed
ledger technology and unless you have taken independent professional advice.
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Citizens, nationals, residents (tax or otherwise) and/or green card holders of each of: (i) the
United States of America; (ii) Singapore; (iii) South Korea; (iv) the People’s Republic
of China; or (v) any other jurisdiction which prohibits the possession, dissemination
or communication of the Available Information and/or prohibits the purchase of COV Tokens,
ERC-20 Tokens or any similar activity are not permitted to purchase and/or transact in COV
tokens.
In no event shall the Company or any current or former Company Representatives be liable
for the Excluded Liability Matters. The Company does not make or purport to make, and
hereby disclaims, any representation, warranty or undertaking in any form whatsoever
to the truth, accuracy and completeness of any information set out in the Available
Information.
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1 About Covesting
We develop innovative trading tools and partner with ambitious companies around the
world. Covesting offers powerful B2B software solutions under the white label agreement
We aim to provide transparency and insight into our product development lifecycle and give
a detailed overview of the business as part of this document. Below we describe the
benefits of the B2B business model, introduce our cutting-edge software solutions and
explain tokenomics of the COV token that powers the whole Covesting ecosystem.
All aspects of the company’s business are fully disclosed to the Gibraltar’s FSC and are
“Covesting is a unique blend of the innovative spirit and combined 100 years of investing
and software development experience of its team, which results in creating truly
revolutionary, yet reliable and secure solutions. On the 21st of October 2018, just a day
before the company’s first birthday Covesting became one of the first ever companies to be
granted a DLT Licence.”
Read more
B2B software
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inspired by innovation
Covesting has experienced rapid changes and conceptual upgrades since the launch
in 2017. As has been proven, the Covesting team excels in developing DLT technology, and
we strongly believe that providing our software solutions to existing third-party businesses
in cryptocurrency and online trading space will put Covesting in a more advantageous
position rather than offering such products to retail customers directly. B2B partners have
Through B2B partnerships Covesting will reach an increasingly larger users base and
automatically create more demand for its native COV token, providing a better value
proposition to all token holders while raising brand awareness globally. The model has
already proven to be highly successful, and we are confident that focusing on B2B instead
of B2C will better align the Covesting business for continued success in the future as the
industry expands.
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Traditional
Wallets
finance
DeFi / CeFi
Exchanges Software solutions
apps
“On April 5, 2019 the Covesting team has announced their first ever B2B partnership.
The COV, a utility token designed to unlock the potential of the copy-trading module, will be
integrated into the PrimeXBT platform and become an essential part of the copy trading
experience.”
Read more
on Bloomberg
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Copy-trading module is the flagship product of the Covesting ecosystem, powered by COV
token. It implements a successful peer-2-peer business model and disrupts the traditional
A Peer-to-Peer, or P2P, service itself is a platform whereby two individuals interact directly
• AirBnB — allows property owners to lease all or part of their property to short-term renters.
• Etsy — enables producers of crafts and other homemade goods to sell their items directly
to the public.
By pairing the peer-2-peer business model and the investment industry, Covesting built
a unique solution where successful traders meet new investors, in a transparent, safe and
efficient environment.
Copy-trading module users can easily browse through hundreds of trading Strategies
available on the platform, and subscribe to the ones matching their risk appetite.
By subscribing, the platform automatically replicates all trades of a chosen Strategy directly
into the account of the user, providing a unique peer-2-peer asset management experience
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There is a lot to learn for beginners entering the trading world, and mistakes can be costly.
With the Covesting copy-trading module, users can copy the best experts in the trading
community, and achieve the same returns as the leading traders on the platform. Each
investor can diversify their portfolio by following an unlimited amount of different Strategies
at the same time. Such diversification allows users to be uniquely positioned to record gains
across multiple trading Strategies and protect themselves against massive losses in any
single asset.
More importantly, users are always in total control — they can start or finish the following
whenever they want. Additional features such as “stop-loss” allows to minimize the
maximum drawdown of a strategy that a user follows and protects from potential losses.
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to investors capital, limiting their opportunities and narrowing earnings potential for all.
Covesting Copy-trading module allows any experienced trader to launch a trading strategy
in a matter of minutes, share their trading results with the public and compete with other
traders in a transparent environment.
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Performance results, margin utilization, risk management approach, win/loss ratio and other
metrics that Covesting transparently provides to all users — will speak for themselves.
As such, every user that demonstrates sustainable trading performance as well as solid risk
management can monetize their trading skills and earn income by starting a strategy and
receiving success fees from their followers. The more followers they will acquire — the more
3.4 Crypto, FX, Commodities, Indices etc – all markets are supported
Covesting Copy-trading software supports the majority of all trading assets available on the
market today. The platform allows to adjust the settings and add/remove instruments
depending on asset list of the partner platform that will be integrating the Copy-trading
technology.
• Cryptocurrencies — All major coins as well as Altcoins. Physical (Spot) and Futures
• CFD’s on Commodities — Brent Oil, Natural Gas, Gold, Silver, Wheat and much more.
• CFD’s on Stock Indices — All major indices including S&P 500, NASADQ, DAX, CAC 40,
• Forex currencies — All majors and over 200 exotic currency pairs.
3.5 Summary
With the features described above, the Copy-trading module creates a synergized
marketplace that brings investors, individual traders and experienced asset managers
together. It’s a scalable peer-to-peer solution where all parties benefit from the module:
successful traders get access to new audiences and sources of additional income, while
users get a broad range of trading Strategies to copy, with the ability to analyze historical
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This tool is available for integration under the white label agreement and is a perfect solution
for exchanges and margin trading platforms that want to improve lead generation and boost
their revenues. COV token offers exclusive benefits to all platform users and creates a truly
user-centric economy.
• Top Ranked Covesting Strategy Manager Makes Followers More Than $1M In 2 Months
https://finance.yahoo.com/news/top-ranked-covesting-strategy-manager-185800929.html
https://cryptonews.com/news/copy-trading-strategy-with-83000-return-possible-with-covesting.htm
• $3M In Profits For Followers: Top Covesting Trader Shows Platform’s True Value
https://www.investingcube.com/3m-in-profits-for-followers-top-covesting-trader-shows-platforms-true-value/
• A PrimeXBT trader explains how he turned $400k into $8.5 million using Covesting Copy Trading
https://cryptoslate.com/a-primexbt-trader-explains-how-he-turned-400k-into-8-5-million-using-covesting-
copy-trading/
In many countries across the globe, banking interest rates have been at around 0% for
decades. Therefore, the real value of money actually decreases with every bank deposit
due to the rate of inflation exceeding any interest.
Thankfully, Decentralized Finance (DeFi) crypto staking and other yield generating products
have opened up a completely new experience for people who have been starving for fixed
returns for years in traditional finance. Crypto investors are able to stake their digital assets
and earn interest, in addition to traditional ways of making money in crypto, such as trading.
It has revolutionized digital finance and created a storm that’s still sweeping across
The DeFi space, with its staking and yield-generating services, is still quite new and not that
easy to understand for all. In order to meet the demand for interest-bearing products
in cryptocurrency space, we have built the Covesting Yield Accounts feature that makes
staking and generating APY interest on crypto, incredibly simple.
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Covesting simplifies the process of DeFi staking for people who have no time to keep
a finger on the pulse of the DeFi industry or do the proper research that’s necessary —
Yield Accounts service does all the work for you. There is no need to interact with DeFi
protocols directly or research how yield harvesting works — simply choose the asset,
choose the amount you are willing to stake, and click a button to start earning! In essence,
Covesting Yield Accounts connect you to several decentralized finance (DeFi) yield
generating protocols to offer a highly attractive APY.
Once you have staked a selected coin it will appear in the Current Stakings tab where you
will easily be able to see how much interest has already been earned.
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You will also be able to find out more information, such as the historical chart of APY applied
to this specific staking, equity curve, and other relevant metrics. You can also terminate
the staking and request to withdraw the amount with accrued interest at any time. There is
no lock up period and funds can be withdrawn once per day, meaning that after the
withdrawal request you will get the full amount plus accrued interest on the following day.
Redemptions are actioned at the end of the 24-hour payout period, and can take a few
hours to be processed.
By launching Covesting Yield Accounts, users with limited technical know-how will be able
to benefit from yield-generating instruments. This is another innovative B2B product that can
be perfectly integrated into cryptocurrency wallets, exchanges, and other finance apps.
Importantly, Covesting Yield Accounts will further enhance the powerful utility unlocked by
the native COV token. COV token allows it`s holders to earn higher (up to 2x more!) interest
comparing to standard rates, creating natural demand for the utility.
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• PrimeXBT Brings DeFi to the Masses with Covesting Yield Accounts Launch
https://www.financemagnates.com/thought-leadership/primexbt-brings-defi-to-the-masses-with-covesting-
yield-account-launch/
• New Covesting Yield Accounts Drop On PrimeXBT, Offering Easy DeFi Access
https://www.fxempire.com/news/article/new-covesting-yield-accounts-drop-on-primexbt-offering-easy-defi-
access-787128
https://cryptonews.com/news/earn-apy-on-crypto-with-covesting-yield-accounts.htm
The Covesting token (COV) is the backbone of the Covesting ecosystem, that creates
a user-centric economy on all supported platforms, and offers unique incentive schemes
for a new generation of investors and traders. Whether it’s a trading discount or improved
staking yield — Covesting (COV) token plays an integral role in all our B2B applications.
Contract 0xada86b1b313d1d5267e3fc0bb303f0a2b66d0ea7
Decimals 18
Symbol COV
Explorer https://etherscan.io/token/0xada86b1b313d1d5267e3f
c0bb303f0a2b66d0ea7
COV utility token allows users to activate one of three membership plans, depending on the
amount of tokens locked. Based on the membership plan chosen — Advanced, Premium
or Elite, users gain access to exclusive benefits and a wide range of rewards and discounts
across all Covesting products. To put it in simple terms — the higher membership tier —
It is also important to note that such locking mechanism supports deflationary nature of the
COV token and supports its value as the number of Covesting ecosystem members grows.
Since all Covesting software solutions are scalable and designed to be integrated into
third-party systems — demand for COV token correlates with the combined activity on all
supported platforms. Additional COV token utilities will be launched as part of the Roadmap
2021-2022, which can be found in the Section 6 of this White paper.
For updated information about the development Roadmap, token utilities and where to buy
COV, please visit Covesting.io
Technically speaking, we will regularly (at random intervals) buy COV tokens on the open
market and “Burn” them. “Burning” means that purchased tokens will be sent to
an irretrievable public wallet known as an “eater address” that is viewable by all nodes but
permanently-frozen, with the consequence that the total supply of COV tokens will
decrease. This form of repayment program sets best practices for the token economy, and
simultaneously serves in the best interest of COV holders while improving the value of COV
over time
You can find all previous COV token burn transactions here.
6 Roadmap 2021-2022
At Covesting we never stop moving forward and adopting to whatever this dynamic industry
brings us. Those who have been following the Covesting project from the very beginning
have witnessed at first-hand how we improved our products all along. We are proud of our
accomplishments, and the achievements that have all been possible due to our talented
team of engineers, solid partners, and of course, the community of long-term project
supporters.
To provide more transparency to our community members, and bring clarity regarding
further Covesting ecosystem development priorities, we have put together this roadmap.
Status as of
Milestone
Nov 24, 2021
Copy-trading
module development
module. This innovative tool allows users to choose among the best
Covesting partners with one of the fastest growing margin trading platforms —
General improvements
on PrimeXBT
denominated in COV and automatically save 25% on all trading fees when
holding COV
COV
membership will get a 25% profit share instead of a standard rate of 20%.
Copy-trading platform users will benefit from higher profit share when
managers will get a 25% profit share while followers will enjoy 75% profit
share.
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Due to the fact that Covesting operates on a B2B model, licensing its innovative technology
to third-party providers such as PrimeXBT, we are primarily dependent on partner
development plans, speed, security protocols, and compliance requirements. Therefore,
the release of specific features can take longer than expected. Note that if new ideas that
significantly impact the business are presented, we may shift the order of priority.
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7 Our team
Covesting is a unique blend of the innovative spirit and significant trading experience of its
team, which results in creating truly revolutionary, yet very reliable and secure solutions
for the investment industry. One of our primary goals is to ensure that we are ahead of the
curve when it comes to following industry's best practices. We are excited to see where
Dmitrij now has over 12 years of experience dealing in various asset classes: FX,
options, futures, equity, commodities, complex OTC structured products and bonds.
He has in-depth knowledge of most trading platforms available on the market today
and has been involved in the development of several algorithmic trading strategies.
After gaining the necessary experience from Saxo Bank, as well as constantly
adapting to the latest developments in the fintech and blockchain industries, Dmitrij
became the Founder and driving force of the Covesting.
Tim Voronin is an experienced equity and derivatives trader, entrepreneur and early
adopter of cryptocurrency. His first engagement with Bitcoin began in 2012 when he
first included cryptocurrency in his private portfolio. Tim began his trading career
in 2008 as a prop trader at Argo Traders where he was constantly implementing new
trading techniques and grew as a professional, trading on LSE and XETRA during one
of the most turbulent times in market history.
We believe that the key to any company’s success lies in its people. We choose the best
industry talents and reward them accordingly. If you have necessary skills and clearly know
how you can contribute to our company — send us your CV at [email protected].
Covesting