Hatchworks (spectre.ai) — Further Growth for SPECTRE.AI-Q3
The team from SPECTRE.AI are pleased to announce it has delivered another quarter of growth in Q3, October to December 2018.
SPECTRE.AI is the world’s first broker-less and fraud-free trading platform that uses unique smart contract technology built on the Ethereum blockchain for users to trade and bet directly against a decentralised pool of liquidity. The growth continues SPECTRE.AI’s rise in the blockchain community as the go-to platform for traders on the one hand and investors on the other.
Owing to severe Ethereum price declines and ongoing blockchain industry volatility, results this quarter have not been as strong as anticipated, but the overall trend is upward. Considerable progress has been made with product development, including the highly awaited new user interface, the early release of Betverse (which was released in beta around 4 months ahead of schedule) and strategic advances on the experienced-hire front which will help scale operations in 2019 and beyond.
Q3 Results Figures:
· Active users by the end of Q3 was 1,347, with the number of registrations at almost 15,000
· The liquidity pool (which, owing to well-timed treasury operations, involved conversion of ETH to USD), remained fairly static during Q3, despite a high level of withdrawals by winning traders, but witnessed a significant translational (i.e non-operating) gain owing to significant ETH price depreciation during Q3 of around 50%. At the end of Q3, the liquidity pool stood at around 13,970 ETH (+ 160% over the previous quarter).
· Volume traded during Q3 — $2,059,339
· Volume traded since launch — close to $4.5m (+100%+ since end of Q2)
· 106 users have used SXUT tokens to upgrade (+3% since Q2)
Revision of Guidance:
As the first fiscal year ended March 2019 draws to a close, the team can give a more accurate forecast for the full year. The firm expects total DALP volumes to fall in the 6m-15m range, revised down from $79.2m. The total number of traders is forecasted to come in at around 1,600–2,000 (down from a forecast of 3,000). In totality for the year ended March 2019, the group expects to have paid a reward excluding special dividends of c. $500,000 and a special dividend of between $20,000–100,000. This would bring $ total rewards per SXDT token to .0037-.0042. At current market capitalisation levels, this offers a token-yield of between 1.7% and 2.0%, comfortably above the 1.2% the software-tech sector currently yields, thereby supporting our current valuation, in our view.
In comparison to the original guidance issued at the end of 2017, when Ethereum prices were c. $700–1,000 and in bull-market territory, the group is likely come in around 130–170% above it’s ‘Bear Case’ scenario in the forecasts, however, below its ‘Base Case’ scenario by around 85% for the first year of operations. As for capital expenditure, the group came in 22% below budget for the calendar year 2018, owing to cost control.
Athol Nourse, the group’s business development director commented “While we have revised guidance down owing to headwinds in Ethereum, the group continues to grow and has made major strategic strides towards the tail end of 2018 with regards to hiring key personnel from major competitors and commence the necessary expansion into full-fiat-based trading along with adding full-fledged API connectivity to Spectre.ai.”
In addition to this, Spectre recently announced the launch of their new online skills-based betting website — www.betverse.io — where users can bet real money on themselves in a range of popular mini, indie and big league games and earn as they play, level by level. It is unique in that users can also challenge their friends with customisable peer-to-peer (P2P) and team betting, or they can bet against the liquidity pool, on reaching certain milestones and levels. Betverse is the world’s first online gaming community where the better you are, the more you earn, and is also backed by Spectre.ai’s multi-million-dollar liquidity pool (the DALP).
Coming soon in 2019:
● Early Expiries — the ability to close a trade early, thereby de-risking it
● EPIC (Epochal Price Index Composite) — high volatility product.
● Weekend trading
● Fiat payment service providers
● Mobile app for both Android and iPhone devices
● A full-service API
● Betverse.io out of beta
● SpecEx exchange
Conference Call: The Spectre.ai management team will be holding a live, recorded conference today, 21st January, 2019 at 6pm GMT. You can register for this here https://register.gotowebinar.com/register/5356708896427964418
Regulatory Notice: Spectre.ai is strictly closed to U.S citizens. Trading involves high risk and you can lose all your money.