The launch of the SIMBA project. How can it be interesting for everyone?

7 min readJul 31, 2020

Today, a custodian storage of Bitcoins is one of the hottest topics in the cryptocurrency industry. Experienced investors are eager to keep their assets safe while waiting quietly for the flagship coin to grow.

However, only specialized institutions called vaults can provide maximum security for funds storage. One of them is Simba.Storage, which strives to be the most convenient and reliable platform for the storage of Bitcoins.

Simba.Storage is bringing security and efficiency benefits in long-term holding crypto assets, as it provides an institutional-grade security storage with easy-to-use interface and great level of privacy.

It has a liquid token, called Simba, which functions are to provide guarantees for the safety of Bitcoins and protection of users’ funds.

SIMBA token

Let’s take a closer look at why SIMBA is needed, how it has something to do with storing BTC and what prospects it opens up for all representatives of the cryptocurrency community. Simba.Storage strives to become the most convenient and reliable international platform for users who have realized that long-term storage of Bitcoin is a successful investment strategy. The intuitive interface of the platform will allow users to easily navigate when working with it and as quickly as possible to carry out all the necessary actions.

The use of SIMBA
Simba.Storage also ensures absolute confidentiality of all client operations and makes client data leak impossible. In exchange for deposited BTC, each user will receive SIMBA. These tokens are backed by Bitcoins at a ratio of 1 SIMBA = 1 satoshi. This means that by depositing 1 BTC, the clients will receive 100,000,000 SIMBA in return.

Cross-border payments and remittance
Commerce & Payments
Salaries & Rents or any other recurring payment
Escrow
Lending
Powering decentralized applications

SIMBA is the result of the implementation of Bitcoin’s original software on the Ethereum smart contract, and combines the advantages of both Bitcoin and Ethereum. It means that SIMBA, like Bitcoin, is an asset with a strictly limited number of coins which has the speed and scalability of the Ethereum network and is compatible with all ERC-20 token services.

This means it can be stored in any Ethereum wallet, using it for any type of transaction, in particular, for cross-border money transfers, payment for goods, services and more.

What solutions does Simba offer ?

Nowadays, Bitcoin looks more and more attractive for both professional investors and ordinary people, who are looking for an alternative to unsafe and unprofitable bank saving accounts and payment systems, where one has to pay huge fees, provide some personal data to a third party and so on. More and more people are diversifying their investments and choosing Bitcoin as one of the ways of profitable investments.

However, together with the growing popularity of cryptocurrencies, there is an increase in the frauds’ activity, who invent a lot of ways to steal cryptocurrency assets. That is why the Simba platform is so relevant today. It stores the clients’ Bitcoins in cold wallets, which are the safest way to storage. Besides, no one in the cryptocurrency industry, accepting BTC for storage, issues assets in return. None of the frauds will be able to access the funds in the Simba vault.

The SIMBA ecosystem plans to carry out cold storage of Bitcoins in 4 countries.

Talking about KYC procedure, KYC procedure may be regarded as a backup for the user who has forgotten his authorization information and passwords.

In addition to storage services, Simba is planning to expand the platform’s capabilities gradually, starting by adding cryptocurrency trading features, then provide credit services and launch its physical vaults in four crypto-focused countries within the first six months of work, using a strategic partnership between Simba and its selected partners in the field of financial services around the world.

Our service will charge a small fee (100,000 SIMBA each) for opening and closing the vault.

Simba Storage Token

Simba offers three products — Simba.Storage, Simba token and SST token.

Simba Storage Token (SST) is an utility ERC-20 token named Simba Storage Token (SST) is a backbone of the Simba’s ecosystem. Total supply of SST is 100,000,000 tokens.

Simba’s team believes that there is no better way to organically build a community than to put tokens in the hands of as many users as possible during the launch of the project where feedback of the community could become a kind of democratic instrument in project traction and popularization as a product tailored for the users, and not for the founders alone.

Thus, SST is to become a core instrument for this mass adoption and incentivization. The Simba team is confident that the use of SST will become desirable by all stakeholders of the ecosystem including users, traders, exchanges and third-party products/services providers.

Now let’s imagine that you have bought the company’s tokens, which starting price is $ 0.1 and there is only a small quantity of them, for example, 100 million pieces. The company has not conducted ICO, when the price could fall dramatically by 90 percent and remain the same for 2 years, as it usually happens upon entering the exchange.

In our case, the price will immediately start to grow organically. According to Elliott Wave Principle, the first year aim of the SST tokens will be $ 0.5, then $ 0.7 and next $ 1.13. This is only within the first year after listing. Further, the probability of a price increase may be many times higher, when the company has branches in all four jurisdictions, keeping its promises and collecting tens or even hundreds of thousands of bitcoins in their vaults, providing the services which will be used by people all around the world.

Below you can have a detailed look on SST tokenomics details:

Total supply: 100,000,000 SST
Distribution via Token Sale: 50,300,000 SST
Reward program for onboarding partners: 8,000,000 SST (10% for the first year)
Airdrop: 1,700,000 SST
Security vault: 5,000,000 SST
Team: 5,000,000 SST with lock-up period. One million of tokens will be granted after 12 months. Another million will be unlocked after the second year. One more million will be available after 36 months. Finally, two millions will be unlocked after 60 months lock-up period
Foundation: 30,000,000 SST

Simba goals and Roadmap

The Team is aiming to build and expand on geographical partnerships and developing distribution capabilities worldwide. This will be facilitated moreover by a strong partnership program, which was originally crafted with a global scale. Also, SST tokens will be listed on most trusted and liquid exchanges (CEXes and DEXes) to receive extra users and increase brand awareness.

In the Q4 2020 Simba plans to achieve the following results:

SST listing on a number of reliable exchanges;
Registration of a legal entity in Switzerland, Liechtenstein, UAE, New Zealand, Estonia;
Providing liquidity for the DEX through Simba Stablecoin;
Creation of a trust fund;
Deployment of multisignature protocols.

In the first quarter of 2021, the team aims to open its own hardware storage.

Passing through all these stages should allow Simba to reach 30 million accounts on the platform by 2025 and about 80 million by 2030.

There are also plans for a large number of various kinds of contests for the Simba community, including joint events with partners. The purpose of such events is to attract additional attention, which helps to promote the project and reward early users for their trust.

Simba Team

As expected, a strong team with a wealth of knowledge and experience in various industries, including investment, information technology and cybersecurity, must be behind the creation of such an ambitious product. The Simba’s team has been created by a synergy of like-minded people with a variety of expertise and competencies in crypto, investing and IT. Many team members have a proven track record in entrepreneurship, asset management, technology and product development. Diversity of experience and genders ideally matches with the mission of Simba’s ecosystem — to build a reliable custodial bitcoin storage for people all over the world.

Currently, 21 specialists are working on the launch of the platform, including the development department (it is the largest in number), the analysis department, the Law department, PR, support and community management.

Chief Executive is Anton Katin, who has already successfully established himself on the cryptocurrency market. Officer Serial entrepreneur and CEO from the age of 18. Anton engaged in investment sphere since 2016. Since 2017, he has been investing in crypto assets. Anton has a deep knowledge of blockchain industry and a strong leadership mentality. Moreover, he is proficient in fundamental and technical analysis of the cryptocurrency market.

Our website: https://simba.storage