WHIZZ COIN - The future of cryptocurrency investments and payments



  • Whizz coin is the first cryptocurrency solution that allow users to both invest and spend crypto assets. The core products of Whizz coin, Whizz Edge and Whizz Card, enable users to split their cryptocurrency holdings in to investments and everyday use.

    WHIZZ EDGE

    We believe that financial planning should be about you and your dreams. WHIZZ Edge provides a
    fund management platform where fund managers and investor meet.
    Investors
    Investors on the Whizz edge platform will be cryptocurrency investors who are either looking to maximize
    their returns or looking to diversify their assets in this new market. This year, investments in cryptocurrency
    have increased rapidly so whizz Edge will allow investors to choose their investment schemes based on
    historical returns, risk level, lock-in period, profit/loss share & fund manager ratings. The investments made
    on Whizz Edge are not held by the fund managers but are executed through smart contracts.
    Platform where fund managers and investors come together.

    Whizz edge offers:

    • A platform where users can sign up as fund managers or investors
    • Investors the chance to invest crypto assets through investment schemes created by fund managers.
    • Fund managers the chance to attract investors through their investment schemes
    • A secure and trustless platform where all the processes are executed through smart contracts.

    Investors

    Investors on the Whizz edge platform will be cryptocurrency investors who are either looking to maximize
    their returns or looking to diversify their assets in this new market. This year, investments in cryptocurrency
    have increased rapidly so whizz Edge will allow investors to choose their investment schemes based on
    historical returns, risk level, lock-in period, profit/loss share & fund manager ratings. The investments made
    on Whizz Edge are not held by the fund managers but are executed through smart contracts.

    Fund Managers

    Fund managers will compete on the Whizz Edge platform by designing the best investment schemes to
    attract investors. The result will be an ecosystem where majority of the investors will be investing in the best
    schemes generating higher returns for both whizz edge investors and fund managers.



    Create Investment Schemes – Fund managers


    Fund managers can create custom investment schemes through Whizz Edge. To demonstrate how this will
    work, see the illustration below:
    Fund manager opens his account dashboard and taps on create new scheme.


    Create Investment Schemes – Fund managers


    Next, the fund manager can add coin and assign
    percentage of the portfolio to it. The pie chart below will
    automatically reflect the chosen coins and the assigned
    percentage. The portfolio will not be shown to the users
    and it will be encrypted so only the fund manager will
    know his portfolio.
    Fund manager can assign the level of risk for this
    strategy. It is to be noted that since cryptocurrency are
    high risk investments so a low risk investment scheme is
    low risk in the context of crypto currency market.
    Fund manager can assign the profit share they will
    make. It is recommended to use the advance options as
    the options of tiered profit sharing and conditions is
    available. For example, a fund manager can decide that
    he will take profits only if the returns of his scheme are
    higher than BTC. Similarly, through tiered profit sharing,
    fund manager can increase profit share if the scheme
    returns achieve certain benchmarks.
    The lock-in period highlights the maximum amount of time
    a user can expect his investment to be locked up in the
    scheme. The fund manager can decide to end the
    scheme early if he foresees a drop in returns and his
    profits. There is an auto renew option through which the
    scheme will be renewed automatically and all the users
    will get a notification if they want to sign up for the same
    scheme again.
    Next, the fund manager can decide how much will he
    invest in his own investment scheme. This feature will be
    shown to the users to give them a sense of security that
    the fund manager will be acting in the best interests of
    the investors as the fund manager has his own
    investment in it. It is possible for a fund
    manager to invest nothing but that scheme will
    probably not be able to attract investors.
    Finally, the fund manager can put in his remarks of how he expects the policy to perform, how much returns can investors
    expect, which kind of investments are in the portfolio etc.

    When the fund manager taps the submit button a historical returns chart will be
    displayed that will show the simulated returns of the investment scheme had it been
    applicable before. The actual returns will be generated with real time market rates of
    the crypto assets in the portfolio. The returns will be calculated based on dollar prices
    and will be compared with returns of BTC to give users the idea of scheme performance.
    Suppose Jack creates a simple investment scheme with 30% XMR and 70% BTC with a
    lock-in period of a month. BTC goes up 10% while XMR goes up 15% during this period,
    so Jack’s scheme
    returns would be
    11.5% versus
    10% for BTC.

    Sign up for an investment scheme – Investors

    Investors can sign up for an investment scheme through Whizz Edge with a simple process illustrated below.
    Investor searches for scheme with the options provided by the Whizz Edge platform.

    Sign up for an investment scheme – Investors

    Based on the search criteria, the relevant schemes will be shown.
    To see details tap on the investment scheme investor is interested in.
    Here, all the details of the scheme will be
    shown along with the returns investors can
    expect. Investors can sign up for the policy and
    put in the investment amount or add the
    scheme to favorites. By adding the scheme to
    favorites, investors can track the policy without
    investing in it.
    The dotted line separates the actual returns
    from the simulated returns. The area right of
    the dotted line are the actual returns while the
    area to the left are simulated returns. The simulated
    returns show the investment scheme
    returns had it been applicable before.

    For More Details Read White Paper:

    Whizz Card

    Whizz Card is a fast and secure way to spend
    cryptocurrencies worldwide. You will not have to worry
    about crypto exchange rates again as Whizz Card will
    offer the best exchange rates possible without any
    additional fees allowing you to make payments via
    cryptocurrencies worldwide.

    Design

    Whizz offer you a range of innovative and exciting cards
    that is not only powered by the security of chip but also
    enable you to personalize it any way you want. Whizz card
    will be produced by DZ card, one of the leading card
    producers in the world.


    How a Whizz Card funded with ETH will work

    When the user uses Whizz Card funded with ETH, this is how the process will work.


    Whizz card will get you the best exchange rates possible by choosing the liquidity providers that
    provides the best ETH-USD rate at the time of transaction.
    The details of the transaction will be emailed to the user highlighting the card number used, the amount,
    merchant details, transaction time and date. The fee applied by Whizz Card platform will be 0.5% to
    use the software on the user side while 1.5-2.3% on the merchant side.

    How a Whizz Card funded with BTC will work

    When the user uses Whizz Card funded with BTC, this is how the process will work.


    Whizz card will get you the best exchange rates possible by choosing the liquidity providers that provides the
    best BTC-USD rate at the time of transaction.
    The details of the transaction will be emailed to the user highlighting the card number used, the BTC-USD
    rate, the amount, merchant details, transaction time and date. The fee applied by Whizz Card platform will
    be 0.5% to use the software on the user side while 1.5-2.3% on the merchant side.
    The process for using Whizz card funded with DASH/LTC/XMR/BCH will be the same as outlined in this
    section.


    Features

    Whizz Card will provide intends to provide users with best experience possible by offering the following
    features:

    • Multiple Crypto Currency Spending

    If the user has multiple currency holdings, Whizz
    Card will allow the user to prioritize the
    cryptocurrency to be used for transactions.

    • Fixed Percentage Spending

    This allows the user to assign fixed percentages of
    cryptocurrency spending.


    • Target Spending

    Users can set limits that when a certain
    cryptocurrency reaches a price target, it should be
    used as the spending option.

    • Others

    The other features will allow users to set spending
    limit, freeze Whizz card, and approve transactions
    for a period of time.

    Whizz Card Ultimate


    First 1000 contributors in the Whizz Coin
    ICO (Pre-ICO included) will receive Whizz
    Card Ultimate for free along with 25%
    lifetime fee reduction. The spending and
    ATM withdrawal limit of this card is twice
    than that of standard Whizz Card.

    Whizz Card Prestige


    Top 1000 contributors in the Whizz Coin
    ICO (Pre-ICO included) will receive Whizz
    Card Prestige for free along with 50%
    lifetime fee reduction. The spending and
    ATM withdrawal limit of this card is thrice
    than that of standard Whizz Card.


    Whizz Wallet

    When a user decides to use the Whizz coin platfrom, he/she will have to setup a contract wallet. The user
    will have to go through e-KYC after which a setup wizard will appear allowing users to customize wallet
    settings based on their preference. The wallet contract is a smart contract securing WHZ held by the user
    through its code. Users will have full control of their funds in the Whizz wallet and it will be available on iOS
    and android. The main features of Whizz wallet are:

    • Wallet Top-up

    Fund your wallet with supported cryptocurrencies
    and ERC-20 Tokens for use with WHIZZ Wallet
    app and WHIZZ Card


    • Multi Blockchain Support

    Support for Bitcoin, Litecoin, Ethereum and
    Dash.

    • Free P2P transfers

    Free transfer of funds between WHIZZ Wallet
    app users.

    • Mobile Notications

    Get instant notification for every transaction
    on your smartphone.

    • Fund Whizz Card

    Fund Whizz Card to spend supported crypto
    currencies worldwide.

    • Fund Whizz Edge

    Fund Whizz Edge to invest using the Whizz
    edge platform.

    WHIZZ Token

    Whizz coin (WHZ) is an ERC20 standard token on the ethereum blockchain with a fixed total supply
    of 67.5 Million WHZ.


    • WHIZZ Asset Contract

    The WHZ asset contract underlines the value backing Whizz coin. The fees accumulated from Whizz
    Edge and Whizz card will be accrued in the Whizz asset contract. Whizz coin holders will be entitled
    to receive the amount accumulated in this contract annually. The value distribution will be
    based on the following formula:
    Value earned per Whizz coin annually = Fee accumulated annually/ Total no. of Whizz coin
    For example, if fee accumulation in the asset contract is equivalent to $1 million annually with a
    circulating supply of 2 million, then the value backing 1 WHZ will be $0.5.

    • WHIZZ Token Sale

    Whizz coin has a total supply of 67.5 million out of which 45.9 million will be sold to public. The WHZ
    token sale will start with the pre-ico where users will be able to get 20% bonus tokens. The
    breakdown of token sale distribution is depicted below:

    • Reserve WHZ

    20% of the WHZ supply will be reserve tokens. The issuance of reserve WHZ is dependent on the
    future circumstances of the Whizz Coin project. The reserve WHZ will only be issued if there are
    additional funding requirements for the project.
    In the short term, the reserve WHZ will not be used in any way so they are not part of the yearly
    earning calculations for the investors. If needed, the Whizz coin will community will decide if the
    issuance of reserve tokens is needed or not.

    • Founder and Development Team Reward

    The founders and development team will be rewarded with 12% Whizz tokens. These tokens will be
    locked in a smart contract for six months.


    Use of Funds


    Core Development - 45%

    Bulk of the token sale proceeds will go towards developing products for the Whizz Coin platform:
    Whizz Edge and Whizz Card. The Whizz wallet App will be integrated with these products as
    mentioned in this whitepaper.


    • Working Capital - 25%

    To offer real time exchange rates for the Whizz Card and Whizz Edge platform, balances will be
    maintained between parties using the working capital.


    • Marketing - 15%

    To acquire new customers, targeted marketing campaigns will be used to attract potential customers
    to the Whizz Coin platform. In addition to that, the marketing funds will be used to pursue potential
    partnerships.

    Legal- 10%

    As with any other financial product, there will be legal costs to procure licenses and setup
    compliance.

    • Legal- 5%

    This amount is reserved for small expenses that will incur in setting up the Whizz Coin platform.

    WHZ Token Holder Rewards

    WHZ token holders will be rewarded with the amount accrued in the WHZ asset contract annually.
    See section 5.2 for details.

    Financial

    • Revenue Model

    The Whizz Coin revenue model is based on the fee charged to use the software of Whizz Edge and
    Whizz Card which is then accumulated in the WHZ asset contract.


    • WHIZZ Edge

    Whizz Edge will have three revenue streams:

    WHIZZ Card

    Whizz card will generate revenue from two sources:

    Roadmap:

    https://whizzcoin.com/wp-content/uploads/2017/08/roadmap_new.png

    Projections

    The financial projections are based on four key metrics:

    1.Average User Spend - The debit card reports show annual
    user spend of an average user is from $ 3200 - $ 3500.

    2. Average Investment amount – The average user tends to
    invest 8-12% of the annual income so we picked the first year user
    investment to be $2800.

    3. Returns - Although cryptocurrency values have soared in the
    year 2017, we do not expect this to continue so we have taken
    an assumption that on average one investment scheme will have
    a 50% return annually.

    4. User Acquisition – It is difficult for new businesses to predict
    how users will react to the platform.
    Since it was difficult to gauge the User Acquisition Metric, we
    have created two financial projections to inform our ICO participants
    of our expectations.
    Complementary


    Conservative


    Optimistic


    Links:

    Website:

    Facebook:

    Twitter:




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