No ICO Community tokens in 2018, time to be Rebellious?
What we usually don’t like in ICO?
ICO is the most common way for a new cryptocurrency project to get funds and start building own community. At some point all cryptocurrency enthusiasts consider getting into an ICO. Some want big gains, some are into technology, others want to be among early adopters of a utility token and etc. No need to say that even being overall positive on ICO, we all face things we don’t really like. Here is the list of issues that I see:
- Not all people can participate. As you know people form many countries like USA or China are banned from participating.
- Presale participants and partners. In any ICO before the public sale a lot of tokens/coins are sold with a huge discount for early partners and investors. Most of people can’t afford to participate at this stage as it requires to invest too much. Those early adopters usually become whales for this currency and are in position to dictate their will to the market. You don’t like whales if you are not one of them.
- Huge risks. There are too many ICOs now. Some are good projects with solid ideas, team and technology, but many more are scam that will just steal your money. The worst part here is that you can’t really check ICO promises. You can do some investigation, watch a bunch of YouTube videos, but you will never have any guarantees the project will succeed.
Considering all above it seems a good idea to take a look on community driven tokens, that don’t go through ICO. Community driven tokens don’t ask you to donate money, they ask for your attention, time and creativity instead. Rebellious project can serve as a good example. Let’s take a look it.
Rebellious project overview
I want to start the review with quotation from Rebellious Whitepaper 1.0:
By valuing your time over your buying power, we plan to build a new cryptocurrency backed by a buzzing community. Rather than building another currency that is dominated by investors with fat wallets, we want to give all the members in our crypto space an equal chance to an equal share of our currency.
Instead of ICO Rebellious team used “Proof of Airdrop” approach. Airdrop was held on November-December 2017. The team asked people to help to spread the project by sharing information, creating memes and videos and etc. Surpassingly there were referral bonuses and that speaks a lot about the team. Referral bonuses are usually collected by people who hold telegram channels, groups or twitter accounts for airdrops and bounties. These people don’t care about the project at all. They would have eventually become whales. I really appreciate that the team prevented that. There was also the voting bonus on Bit-z exchange. This voting was the only way for the project to be listed on a major exchange. Can you guess what the reward was? Participants got 4000 REBL tokens worth ~ 1000$. Yes, I said that. The team distributed 1000 USD worth of tokens for free.
Now when I have not only your curiosity, but also your attentions, I will not give you a full review. I want you to think for yourself, make your own investigations and take responsible decision. So I will give only the points, that I personally consider the most important.
- Team stands for their words and promises. So far the team was able to fulfil all promises and roadmap milestones.
- Team does amazing job working their community. They listen to all suggestions and complains, respond to all questions at an incredible speed. I tried to ask several questions in the telegram group (more than 14k members) and got answers in less than a minute from admins. Community members help and support each other. I didn’t actually expect that.
- Everyone had an equal start. No whales, no price manipulation. A lot of people dumped tokens when REBL hit bit-z exchange, but many more keep them and have become loyal HODL community.
- Doable aims. A lot of crypto projects set extremely ambitious aims, but let’s be honest, cryptocurrencies will not take a man to the Mars in the nearest future. One of the most straightforward use of cryptocurrency is e-commerce. REBL wants to develop cryptocurrency transaction models for all major e-commerce platforms. The team has a good e-commerce background and they know what they do.
- Proof-of-Stake. REBL is an ERC20 token, ETH itself is still not using Proof-of-Stake. I personally don’t like when rich miner groups dominate the community, do you? REBL offers a great stacking system where everyone gets annual 10%.
- From token to coin. I like Ethereum, but transaction time and fees nowadays are getting out of hand. Rebellious team work hard on own blockchain. At some point of time the project will move from ethereum network to its own.
Useful information on Rebellious
Today the project will release Whitepaper 2.0 with information on blockchain implementation and a brand new roadmap.
On February 14, there will be a token burn event where all undistributed tokens will be burned. As I understand it is around 20% of the whole supply.
Daily trading volume is around 200 BTC
Useful links: