CrushCrypto ICO Review Merculet (MVP) · 2018-04-13 · MVP token sale summary • Project name:...
Transcript of CrushCrypto ICO Review Merculet (MVP) · 2018-04-13 · MVP token sale summary • Project name:...
ICO Review:
Merculet (MVP)
Rewarding User Attention with TokensApril 13, 2018
PROJECT OVERVIEW
What is Merculet?
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• Aims to increase
user adoption,
retention, and
engagement for
enterprises
through their
Attention Value
Network, and
related supporting
applications and
components.
PROJECT OVERVIEW
User Attention Value evaluation system
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• The User Attention
Value (UAV) serves as a
tool to provide a
reasonable valuation of
a users’ attention
relative to the business’
or entrepreneurs’
needs.
• The UAV system is
integrated with
traditional reward-point
systems, through a set
of open protocols.
PROJECT OVERVIEW
User Attention Tokens
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• The Attention Incentive
system will allow the
business side to create
UATs (User Attention
Tokens) which will be
awarded based on criteria
met by the business.
• The UAT will be anchored
to the basic MVP token
with different rates,
enabling the synergy and
the value exchange
between entrepreneurs.
PROJECT OVERVIEW
Open Content Platform
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• This will serve as a hub for created
content on the network, where
various levels of contribution (i.e.
translating) will be rewarded MVP.
This encourages a robust
community that actively engages
on the platform.
PROJECT OVERVIEW
Development roadmap
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Perfect User Attention
Based Growth
Methodology
Design of AVN
System and
Verification of POC
Release AVN system
β1 & Application
Market β1
Content Open
Platform Product
Design
Release AVN system
β2, Attention Purse
β1, UAT Application
Market Version 1.1 &
Open Content
Platform β1
Release Attention
Purse β2 & Open
Content Platform β2
Support the exchange
of between UATs
AVN 1.0 onboard
Content localization
& internationalization
MVP commercial
applications and
distribution scenarios
Open Content
Platform
Consensus
mechanism of
application layer,
Reputation system,
etc.
Underlying
technology upgrade
Native Token & Smart
Contract Early Support
“De-Merculet-lization”
of all aspects of the
ecosystem and
advancement of
health development
for the community
without Merculet
participation
1H 2018 2H 2018 1H 2019 2H 2019
TOKEN SALE OVERVIEW
MVP token sale summary
• Project name: Merculet
• Token symbol: MVP
• Website: https://merculet.io
• Hard cap: 37,000 ETH (21,000 ETH to be sold in presale,
16,000 ETH in public sale / ICO participants receive 30% of
total tokens)
• Conversion rate: 1 ETH = 70,000 MVP
• Maximum market cap at ICO (fully diluted basis):
US$64M assuming current ETH price of US$520
• Bonus structure: 25% bonus for presale participants, with
5 month vesting period with 20% released every month
• Presale or white list: Yes
• ERC20 token: Yes
• Countries excluded: China and USA
• Timeline: Private sale ongoing
• Token distribution: 6 weeks after token sale completion
ICO SUMMARY
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TOKEN DISTRIBUTION
35%
30%
20%
15%Foundation
Token contribution
Team & advisors
Marketing
USE OF PROCEEDS
55%30%
10%5% Tech development & research
Marketing & business development
Operations
Legal
PROJECT OVERVIEW
Use of MVP tokens
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• Used as a placeholder for the
protocol MVP chain until the
release of the Attention Value
Network. The protocol will
serve to enhance user
functionality for engagement.
• The value of the token should
increase based on the
number of people using their
network, and how many
commercial applications that
are developed to use the User
Attention model.
THE TEAM
Team and advisors
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Ivan Jiang
CEO
Over 10 years’ experience
in software engineering
with the most recent
being with 魔窗(translated “Magic
Window”), an app growth
company, as its founder.
Shen Jun Zhang
CTO
Over 10 years’ experience
in software engineering
with his most recent also
being with Magic
Window as its CTO and
co-founder.
Jerry Gao
CPO
Almost 15 years’
experience in front end
and UI/UX development
with the most recent also
being with Magic
Window as its CPO.
Kevin Wu
Chief Architect
Over 10 years’ experience
in software
design/architecting, with
his most recent being
with Magic Window as its
chief architect.
Tony Shen
Head of Mobile
Development
Over 5 years’ experience
in software engineering
and mobile development
with the most recent
being with Magic
Window.
OUR THOUGHTS
The opportunities
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• By using Merculet’s platform, users will be able to make money without changing their
behavior on app usage, which makes it enticing for them to engage on the platform.
• The team is comprised of experienced entrepreneurs who have relevant experience in
the app growth space.
• The project is backed by various institutional investors, meaning that it has passed the
scrutiny of those investors.
OUR THOUGHTS
Our concerns
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• The project has not released alpha/proof-of-concept, therefore, it is essentially a white
paper project.
• The UAV evaluation could be tricky because users will try to game the system to
artificially inflate their UAV score. If users manipulate UAV scores, it would make ad
targeting less effective for advertisers.
• Even though Merculet has a few partnerships in place, it is unclear how those
partnerships will drive the adoption of MVP tokens. For example, we believe it is unlikely
that tech giants like Alibaba and Tencent are required to purchase MVP tokens to place
ads on the platform.
• The key team members are all working at Magic Windows. It is unclear how they will
allocate their time between the two ventures.
OUR THOUGHTS
Our views
For flipping: Neutral.
• In the current market environment, we believe the hard cap of 37,000 ETH is rather high for this
type of project, especially considering that the project is at a very early stage.
For long-term holding: Neutral.
• The go-to-market strategy of the project is unclear to us. We are unsure how Merculet will attract
users and gain adoption of its tokens. Therefore, it is hard to gauge how likely the project will be
successful long-term. The fully diluted market cap is also fairly high amid the current market
environment.
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