How we built the TrakInvest Smart contracts
TrakInvest is a virtual trading simulator which provides you the functionality of trading using virtual currency on 10 world stock market exchanges. It is a great model of social trading where users can Trak (Follow) other users.
The top performers gets rewards in form of incentives such as internship and jobs. With the rise of crypto technologies and Blockchain, the team at TrakInvest decided to explore this space. With the rapid advent of crypto exchanges, we felt there is a need of virtual crypto trading tool too as everyone does not have spare money/crypto currencies at their disposal.
The team unanimously agreed on the part that creating ERC-20 tokens and using them as part of the system as an alternative of Fiat currency is an option that we should explore, Hence, we took the decision of integrating block chain on our existing product, i.e https://trakinvest.com .
To get started with this technical roadmap, we have launched our ICO on 16th December, details of which are available on https://trakinvest.ai .
Trak Invest Smart Contracts:
There are two type of smart contracts deployed on ethereum block chain for the same.
- Trak Token: This is the ERC20 based utility token which would be integrated with the system and would be available for use inside the TrakInvest eco system. Trak Token would be transferrable and available on exchanges after the completion of ICO.
Trak Token would be the core component around which the block chain integration revolves. As smart contracts are essentially piece of code, Trak tokens exhibits its own behavior while extending features from StandardToken and ERC20 tokens.
- Crowd Sale Token: This is the main actor smart contract for the ICO. This smart contract automatically helps in authorising addresses after KYC verification. The token distribution is based on the tranches created while deploying the smart contract. While designing this token, we decided to keep human intervention to the bare minimum. Hence, like most of the other ICO’s, we do not ask user to transfer tokens to other ethereum wallet address and share the tokens later manually, but opted to follow the best practice, i.e the investor will send the ether directly to crowd sale address and the crowd sale address manages the entire token distribution. During the entire ICO period, Crowd sale token is the owner of the Trak token, which makes it non transferrable between any two parties, prohibiting its misuse.
The code of the smart contracts is verified on https://etherscan.io. We also worked with a third party for security audit on the Smart contracts to make sure that an investors crypto assets do not go into wrong hands.
You can go and look into the smart contract code on git repo https://github.com/ankit-trakinvest/trakinvest/tree/master/blockchain
Development: Solidity language, truffle framework
Dev Testing: testrpc, mist wallet
Testing networks: local, Rinkeby, Ropsten
Tool used for QA: metamask, myetherwallet
Director of Engineering, TrakInvest.