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Chronobank’s Mikhail Savchenko to Join Caviar As Advisor

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by Maria Konash · 3 min read
Chronobank’s Mikhail Savchenko to Join Caviar As Advisor
ChronoBank's CEO Sergei Sergienko. Photo: Chronobank / Twitter

Caviar, a token which seeks to reduce investment volatility and promises higher returns by re-allocating funds between crypto and real estate markets, welcomes Mikhail Savchenko in its advisory board.

Caviar, a token that looks to produce returns for the token holders through a dual exposure to the real estate and crypto market, has announced that Mikhail Savchenko, CTO of ChronoBank, has joined as an advisor.

Savchenko is a seasoned programmer with over 20 years in software development, security, and cryptography. He has an MBA in IT Project Management, and uses his talents on blockchain development since the infancy of Bitcoin. One of his most recent achievements was winning a Fintech Hackathon, where Savchenko presented a trusted document exchange using IPFS and Ethereum, which is an essential component of ChronoBank’s functionality.

“We’re honored that Mike has joined our global team of advisors, further validating our approach to diversify cryptocurrency investments. ChronoBank is an impressive innovator and we’re excited to have Mike’s technical talent as well as market insights contributed to our project,” said Kirill Bensonoff, partner at Caviar.

On the advisory board Savchenko is joined by David Drake, blockchain investment expert and chairman of LDJ Capital, Ivan Labrie, and several others – including James Jamil, Executive Director of the Wall Street Blockchain Alliance.

Caviar is currently in a pre-sale running until December 7th. The crowdsale starts on December 12th, with a target sum of $25 million. Users interested in participating in the pre-sale can benefit from 20-30% discounts but there are two limitations: US investors are not accepted at this point, and there is a minimum contribution of $500 to participate in the pre-sale.

A fund audit by KPMG should be complete in February 2018, as well as funds be deployed into crypto-markets and real estate.

Before the end of the Q1 of 2018, the beta version CAView should be announced, with the first quarterly profit distribution to token holders in April, when token holders will receive 75% of all profits through smart contract. The roadmap ends in July 2018, with the platform to be available to the general public from that point forward.

From there, users will be able to benefit from higher than average returns, with most possible minimized risks.

Caviar claimes that over 20 real estate loans have been completed, with each deal on average costing $170,000. Even with loans this large, Caviar has experienced zero late payments, and an internal return rate of return of 16% per year.

Because of this strong performance, Caviar has consistently outperformed S&P 500 Real Estate and Bond indices by over 300% since Caviar’s inception in 2013.

On the cryptocurrency side of things, Caviar will be making long-term cyclical investments in “fast appreciating crypto-currencies and assets with over $100m in market cap, while also investing in new, high upside projects with “real world” enablement, payments, and finance, blockchain platforms, privacy, and other use-cases” by using their proprietary Intelligent Predictive Model.

The whitepaper goes into detail on the workings of their IPM, but in essence two models are calculated independently of each other using public data, which when combined with machine learning and AI, should allow for accurate predictions of the future trends of cryptocurrencies as well as effective asset allocation.

Besides the appreciation of the assets, Caviar will also reinvest 20% of all profits into further growth, thus increasing the value of the token.

Blockchain News, News, Token Sales
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