Automated cryptocurrency trading platform Gimmer (GMR token) has announced two new initiatives designed to open crypto trading to the mass market.
GMR holders will have unlimited free access to the first ‘Basic’ tier of their trading BOTs. The Gimmer BOTs are sophisticated strategies built by Gimmer’s experienced professional trading team and designed to give easy-to-use options for every type of trader and a range of investor risk profile. These strategies include trade, margin, lending, arbitrage, portfolio and scalper BOTs.
All Gimmer users will have access to one free basic trading bot with an account limit of $100. It is an advanced trading bot pre-configured and ready to run that comes with the choice of three indicators. The BOT can be upgraded at any time with GMR tokens.
Gimmer launched its token sale on February 1, running until February 28, and aims to revolutionize the market using AI and trading BOTs. Users can also create their own strategies or rent existing ones and backtest them to check its effectiveness without risking actual crypto.
After the free bot, there are three main tiers of access* for Gimmer users:
If you have enough GMR tokens then you could get unlimited access to Gimmer’s trading bot, if you have enough balance for it. Each BOT is different and comes with their own specific feature. It allows users to start trading right away without needing to purchase any additional features. However, customizing the BOT will be a pay-as-you-go option using the GMR tokens.
Users can customize their trading bots by buying items from the Gimmer marketplace, which contains unique features that can be added on to each BOT, boosting its performance. Renting features is is also an option and most items have a limited time duration and can be used only for a particular amount of time. Gimmer estimates that an intermediate user will, on average, have five active BOTs, each with varying degrees of customization payable in GMR tokens equivalent to $65 USD per month.
Selling to the marketplace by creating your own trading strategies is possible. The price is set by the strategy or indicator owner and the transaction is handled by smart contracts. GMR tokens are the only accepted payment in the marketplace. Selling your own trading techniques also makes the community more stronger. It enables intermediate users to benefit from a range of community-made advanced features to improve their own trading strategies.
Philipe Comini, Co-founder and CEO of Gimmer says,
“Our Alpha release in 2017 was a huge success and our demo app has now been downloaded over 20,000 times. We have a very strong global team of developers, Data Scientists and crypto trading experts on board. We want to make sure our token holders get the most value possible and so we are very pleased to be able to offer them unlimited access. We will have very exciting news to announce about our AI developments over the coming months and we are well on the way to opening up crypto-trading to the mass market globally.”
There would be new features added slowly, some of them include indicators, safeties, signals, complete BOT strategies, add-ons, data pools, feeds and training courses. The marketplace will be a central hub for user-generated content that will make Gimmer the first crypto-trading platform that will have a social community at its heart to support and grow the trading experience to the benefit of all Gimmer users.
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FLiK case: Utility tokens take another hit in case allegedly involving Rapper TI, claims prominent lawyer
Stephen Palley, a prominent lawyer at Anderson Kill, spoke out about the FLiK token case via his official Twitter handle. Notably, unlike most tokens in the space, FLiK made headlines because of its celebrity backing.
Towards the end of last year, it was reported that the US Rapper Clifford Joseph Harris Jr., who goes by the stage name T.I. and T.I.P., was sued for $5 million over the alleged failure of the token promoted by him and his partner, Ray Felton. The rapper was being sued by a group of 25 individuals who claimed that that they invested around $1.3 million in the tokens.
Additionally, there were allegations that the rapper used the raised money to increase the token’s value, following which the duo sold their holdings after the coin crashed. Other well-renowned celebrities such as Kevin Hart and Mark Cuban were also reportedly associated with this project.
On the recent developments surrounding the case, Stephen Palley stated,
“Utility tokens” take another hit in case allegedly involving rapper TI. Court says FLiK ICO tokens = securities under Howey Test, for motion to dismiss purposes. That they offered some functionality ≠ relevant given buyers’ expect of profits solely from efforts of others. 1/4″
The lawyer further stated that,”use of funds” was already determined by the defendants, “per the FLiK token whitepaper.” He went on to state that there was a time problem, adding that Federal Law rules that “unregistered sale” of security tokens were supposed to be reported within 12 months after the violation.
Even so, court says there’s a time problem — claims for unregistered sale of securities have to be brought within a year after the violation on which they are based, under federal law. Because this isn’t pleaded, these claims are dismissed with leave to refile. 4/4
— Palley (@stephendpalley) May 20, 2019
The lawyer concluded by tweeting,
“ps — form was never going to be exalted over substance, so none of this is a huge surprise. Also, this is a ruling on Rule 12(b)(6) motion to dismiss so the Court takes the allegations as true for purposes of ruling. The merits still have to be litigated.”
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