The past week has been quite busy and brought a lot of changes in the list of ICOs that raised the most money.
2 newcomers completed the ICO in the shortest possible time.
The other 2 were able to join the leaders even without completing the fundraising.
And 2 of them took their place in the top ten.
Project Kin took 8 position, although the fundraising is planned to be completed only on 26 September. Startup plans to create a decentralized ecosystem of digital services for daily life.
In the10th place we have the Enigma project, that finished ICO within a few hours. They develop a platform that allows investors to have access to the vast amount of information about the crypto market and analysis tools.
DomRaider — a company that has been on the market since 2013 — specializes in reserving newly dropped domain names (such as .com, .net, and .fr) and selling them at blockchain auction. ICO was conducted to ensure the growth of the company and promote its activities in the international market. The project has already reached the 12th place, although ICO has not been completed yet. At the moment, 95.7% of tokens of the planned amount are sold, so we will know the results soon.
Also, following the results of the 2-day ICO, Blackmoon joined the leaders, creating tokenized investment funds.
This week, projects that went through an ICO were on a roll, because due to the decline in the ETH and BTC rates, investors were more active.
And, in keeping with the best traditions, we will tell you about the project in the 4th place.
Bancor
ICO period — 12.06.17
Zug, Switzerland
Bancor is a mechanism for fast token-exchange, automatic price definition and liquidity maintenance.
1.Problem
The main problem being solved by the project has an original name «Double Coincidence of Wants Problem». The problem per se is the difficulties bend with finding two people with opposite interests which leads to loss of assets liquidity. In terms of exchanges the problem lies in lower liquidity of small-scale crypto currencies.
Bancor provides the opportunity to convert tokens without entering an exchange. The conversion is conducted by means of smart-tokens, managed by smart-contracts, that define the real market cost of a token. The exchange can be carried out between any tokens of ERC20 or EIP228 standard, which are included in the smart-token reserve.
Bancor mitigated such exha nge referred problems as spread, high volatility and low liquidity of some tokens.
2.Roadmap
Bancor outlined its Roadmap in the Form of Kanban at https://trello.com/b/8SaOatUe/bancor-product-roadmap. So everybody can track the development of the project and understand, what has been done, what is on the test stage, what is going to be released soon and what will be realized within 6 months or 2 years.
Thus during the ICO the following tasks were realized: 28.07.17 ETH was added into BNT reserve. On the same day the option of transferring tokens to a Bancor purse from third digital purses and vice versa. The Chatbots are being upgraded: 27.07.17 WeChat Chatbots were added.
So a few scheduled take have already been completed by the Bancor team. The outlying time fences were 6 months and w years, which provides an opportunity to choose between more or less priority tasks for current moment. One can check the adherence to time boundaries only after 3 months.
3.Team
The team consists of 12 people. Their profiles are on the website
The chief cryptocurrency designer — Bernard Lietaer
Dr.Lietaer has been actively working on currency systems over 4 decades. He wrote well-known and publicly acclaimed books on such topics as Future of money, Money and sustainability and New money for the new world. When Dr.Lietaer worked in the National Bank of Belgium, he became known as the ‘Designer of Euro’ for development of ECU — a mechanism that allows currencies of 12 countries align. The Businessweek called him ‘the best currency trader of the world’ in 1992.
Company counsel
Guido Schmitz- Krummacher
He been working in SMS enterprises in Europe as Director or a Board member. Guido joined crypto industry a few years ago and pays special attention to representation of emerging systems in Zug, Switzerland.
Eyal Hertzog
A venture entrepreneur with 20 years of experience in technologies. The founder of MetaCafe, the most fast growing Israeli videohosting resource that has reached over 50 million unique users at its peak. Before that Eyal founded Contact Networks, one of the first social networks in 1999. Eyal is a candid leader in Israeli cryptocurrency industry and a talented pianist and drums player.
Guy Benartzi
Venture entrepreneur with 15 years of experience in technologies. Director if Mytopia (acquired by the 888 company), founder of Particle Code (acquired by Appcelerator), AppCoin and an active business-angel. Guy encountered block chain in 2011.
Technical Director — Yehuda Levi
Venture entrepreneur with 15 years of experience in technologies. Co-founder and Technical Director of Mytopia, Particle Code and AppCoin. Yudi is the head of the developers team at Bancor, that works on Solidity contracts and the overall engineering of the project. Apart from that he is a cross-platform developer and a gamer.
Business Development — Galia Benartz
Venture entrepreneur with 10 years of experience in technologies. Co-founder and Senior Business Developer in Mytopia, Particle Code and AppCoin. Corporate entrepreneur in Trinity Ventures, Partner at Founders Fund. Galia holds Master’s degree in International Monetary Theory and is obsessed with an idea that blockchain will increase the access to opportunities for all.
VP Engineer — Ilana Pinhas
Has 15 years of experience in software development, 6 years of experience in developing trading algorithms. Iliana specializes at projecting and creating of the server part of infrastructure and inner framework.
Key developer — Or Bachar
Full stack developer with over 5 years of experience in start-ups. Or specializes at creation and optimization of one-page apps from scratch and sees great opportunities in integration of Internet and blockchain.
Key developer — Omry Rozenfeld
Studied elite military engineering computers, has 5 years of experience in frontend development for iOS, Android and web. Omry aspires to change the world by means of blokchain.
Key developer — Asaf Rachman
Has over 8 years of experience in options, futures, bonds and shares trading. Studied elite military engineering computers. Asaf is a full stack developer and he specializes at back-end environments and is obsessed with the idea of intersection of technologies and finances.
QA Engineer — Mati Levi
QA Engineer with over 8 years of experience of automatization of projecting and cross-platform deployment. Mati has a fancy for various gadgets.
Product designer — Itay Dreyfus
A designer with more than 6 years of experience in development of highly accurate interface for IOS, Android and browsers. Itay develops the interface of Bancor and its visual part. He is also into the ‘interaction experience’ (UX).
Each member of the team has his or her own story and possess a skill required for Bancor. They have experience in currency trading, computer technologies, SMS business management.
Advisors — 8 persons
Advisor in venture capital — Tim Draper
Advisor in trading algorithms — Yariv Gilat
Advisor in management — John Henry Clippinger
Advisor in mobile apps — Lee Linden
Advisor in software integration — Justin Rosenstein
Advisor in social trading — Yoni Assia
Advisor in currency communities — Roel Wolfert
Blockchain advisor — Guy Corem
4.Market
We can say that Bancor is a part of the cryptocurrency exchanges market, however at the same time it dramatically differs from its traditional representatives — exchanges.
Exchanges require two contractors that conclude a treat to make a deal. Bancor doesn’t require search for a customer: all operations are conducted by means of a smart-contract. For example, even new decentralized exchanges, such as Ox, facilitating solutions for problems of existing exchanges, have to look for two counterparts to make a deal.
There is a platform, providing a similar cryptocurrency exchanging service — Shapeshift, requiring the transfer from one user address to another. However, the working schemes of these two projects are different.
Competitors: 0x, Marketdao, Shapeshift, EtherSwap, CryptoDeriviatives.
5.Business-model
With increase of demand for any smart-token, including Bancor, the demand for BNT will increase as well, which will have a positive influence on other smart-tokens that have it in reserve. Thus the price of the Bancor token will grow with successful development of the project and demand for its service.
This model allows the project to get profits, since 20% of tokens are sent to the long-term fund for further development.
6.Audit
Bancor attracts external auditors of codes of smart-contracts to ensure investors in its good faith and security of their money. The results of the audit were publicly accessible before the ICO and were announced by the advisors of Ethereum ConsenSys — Nick Johnson and Martin Holst Swende. During the audit a few new features, that haven’t been announced in the terms for investors, were revealed — preservation of the centralized control, which make us believe the Bancor team.
7.Prototype
Before the ICO Bancor had already presented a prototype to study the product. They actually released a demo of the user interface of the Bancor network. Since the first days sich Bancor features as user-friendly interface, digital purse in every profile, improvement of token liquidity, simplified access by means of integration of popular chat-bots (Telegram, Facebook) and creation of communities — smart-tokens.
8.Token distribution
The emission makes up 79 380 000 tokens. 50% of them have been distributed among investors during the ICO. 20% are distributed as a reward among partners and bounty-hunters. Other 20% remain as a long-term fund that will be used to solve tasks of the project. The rest 10% go to the team, advisors and early-adopters.
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Article was originally published on our blog https://blog.dolphin.bi/top-20-icos-intro-to-bancor-7023274fdd69
