Describe the company – the elevator pitch …
People recognize the opportunity that tokenized investments should be … but perceive that the sector has lost its way. They also have a love hate relationship with the current ICO (Initial Coin Offering) rating and listing state of play. They love the fact that they can filter projects quickly and learn what is good or not, and hopefully be alerted to what is a scam. But they hate the fact that practically everything – from top slots on listings, to conferences pitches, to ratings themselves can be bought and paid for. And let’s not even go there on the down right corruption that happens.
The TOKEN platform is in Alpha and deployed on the Rinkeby Ethereum test network at https://presale.market. That means that its not yet on the main Ethereum blockchain so real tokens of value cannot be transacted there yet. To the technically savvy, but not yet blockchain educated, consider when you look at the site that no data is stored on a server – the core architecture is serverless. The libraries we built to handle cache, as well as the smart contracts that drive the platform’s functions all break completely new ground. It might look like a simple website, but it comprises a full year of development by some of the best solidity developers in the world. This is great first mover advantage.
At first glance the site looks like a decentralized ICO rating tool. But it is much more. It can create funds for projects comprised of the services they need to ICO.
The service providers are paid directly when the fund (smart contract) is filled. Investors staking TOKEN can access presales, which offer attractive discounts. They can also upvote Expert’s project assessments. This affects the Expert’s reputation and therefore the share of project submission revenues that they will autonomously receive.
So, rephrasing, it’s like a “decentralized Amazon for the picks and shovels of the ICO and STO world”. Or, thinking bigger, it could be what the investment bank of the future is.
The combined ICO and STO (security token) markets are projected to exceed $10 trillion in the next ten years and we want 70% of all early stage ICO and STO investments to happen on the TOKEN platform within 5 years. TOKEN will earn a commission on all fundraising that happens through TOKEN-funds making our projected revenues over $1billion within five years. Our mission is to see tokenized fundraising reach its potential – a mechanism that allows tech geniuses with brilliant ideas to steal power and control from centralized companies raising untold sums in minutes from regular people making modest contributions from every corner of the earth.
— TOKEN (@tokenttt) August 7, 2018
How are you different?
There are three key differences with the TOKEN approach. Innovations, if you will:
Complete democratization of tokenized investments. The direction of travel of ICO investing is that the privileged will get the best deals (discounts) and the crowd is supposed to pick up the rest. Whether cliques of “private-sale” investors or “big name” VCs their goal is to cash in where others can’t. At odds with decentralized principles, transparency often falls by the wayside. More to the point, it is not sustainable, because that “crowd” thinks this sucks. Through the TOKEN platform, anyone holding the TOKEN cryptocurrency can earn reputation and access the discounts offered by projects for their TOKEN-funds. For the first time in history, privileged access to the best investment opportunities will be freely tradable on liquid secondary markets.
A meritocracy is created for the ICO services market. As often happens with new sectors born suddenly, the services that develop to support them are disaggregated and idiosyncratic. Because of the sheer scale of value that poured into the “crypto” sector in its early days, front runners benefiting from the largesse built glitzy, high-priced, silver bullet offerings for ICO hopefuls. But reality bites. Just like Amazon did the unthinkable to seemingly unstoppable retail powerhouses, the TOKEN platform will quickly replace the lucky and the early, with the best.
The most worthy projects will rise to the top (regardless of their marketing prowess). ICO and STO projects create a fund (called a “TOKEN-fund”) comprised of the services they need to successfully launch. It is a smart contract, which pays service providers directly upon delivery. This has dual benefits: the investments cannot be misspent, and the success likelihood of these funds continuously improves as the services that comprise them gain track record – a virtuous circle.
Why will you do well?
In order to do well, you have to solve clearly defined problems, have a great team, have access to the necessary resources, and use the best technology. That is why TOKEN will succeed.
Where are you based?
The project is based in Zug, Switzerland. We have an office and development team in Kiev, Ukraine. Our core operations team is distributed but “home” is Ireland.
When was the company launched?
ACT Foundation was formed in July, 2017
What have been your biggest wins to date?
All of them are technological, because all we have done is build. ACT Foundation is working on decentralized curation solutions that allow non-profit operations to evolve past centralized approaches. The biggest win was an epiphany that what we were building could be a curation solution for the entire multi-trillion dollar giving sector rather than just our one fund for supporting activism. This “protocol” approach now positions the Foundation to deliver a transformative “decentralized curation” option for all grant making globally. This addresses the issues of bureaucracy, lack of transparency and lack of haste that simply render the best intentions of the sector “not enough”. The other win was the realisation that our underlying code solves the problems with ICOs when adapted in the form of the TOKEN platform. This is a thrilling challenge to be able to hit.
Who are you trying to attract to your product?
Here is a summary of the platform’s users and the problems that are solved for each:
For ICOs and STOs
• Get to the crowd
• Get early investors
• Get access to services with integrity
• Invest securely in solid projects with the best discounts
• Success-assured launch due to service provider integrity
• Their TOKEN asset appreciates as the platform gets traction
For service providers
• Meritocratic solution rather than ads and glam
• Reduced marketing costs
• Automated payment (less risk)
What tips would you give to others looking to build their business?
The tip I would give, if permitted, is to parents of young entrepreneurs not entrepreneurs. It is to recognise that this son or daughter does not have the same needs as others who are not entrepreneurs. Once reconciled with the fact that you should (if you can) support their business endeavours financially, my tip is to give them one quarter of what they want for their first company so that there is more in reserve if it fails! They will succeed eventually but the learning curve can be a rocky road.
Tell us about your team?
I am an Irish Olympian (Athens 2004, 49er) and Trinity MBA living in Dublin. Post Olympics I built a New York and Dublin based diamond business before becoming a social entrepreneur and then helping global conservation organisations with innovative finance for climate change for about four years. Then I found blockchain and it was love at first bitcoin. I have spoken at conferences globally on the topic of “blockchain for social good”. Ultimately, my goal is to save the planet, and I now consider decentralization a necessary means to do so.
Liza Martynova is Belarusian, a lawyer by training, a coder, founder of Minsk blockchain meetup and an experienced HR manager and administrator. Our development team comprise two solidity devs from Ukraine, working out of our office in Kiev for over a year now. Together, we are like a family.
We are in the process of putting together a group of 50 Ambassadors for the project. These are ICO experts who all agree “this is needed”. We will be excited to announce this in the coming weeks.
What are your plans for the future?
I plan to democratise and transform finance, completely change the non-profit sector (https://act.foundation), and decentralize 20% of the world’s press (https://dap.media). I am also sitting on a tokenomic model that could deliver global reforestation (a challenge I worked on globally with the traditional finance rubric for about four years), which I would like to see happen if I can get the necessary actors to line up. I plan to instill a “nothing is impossible” attitude in my children by demonstrating that, in fact, nothing is impossible.
What are your favourite tech gadgets?
I always want the fastest and more powerful macbook. I would queue or even travel in order to get it!
What tech gadgets do you wish you could use to help you?
I’m glad you ask. I want more seamlessness between the solutions that deliver the benefits I want: ad blocking (stop melting our brains advertisers please), web3 integrations and tools such as Metamask and Toshi (also Status, Cypher), decentralized app-store like solutions (that cannot censor unaccountably), and the security afforded by trezor and ledger type devices, or auth codes. It feels like everything is built upside down right now. We own the keys to our own money and destiny now thanks to blockchain and my gadgets need to be created from that perspective to best deliver its benefits to me rather than make Apple more ridiculously valuable and powerful.
Anything else you’d like to add/we should have asked?
There is a limited pre-sale for TOKEN with a 90% discount. You are welcome to call the number below.
How do people get in touch with you?
The website is https://presale.market
Our telegram group is at https://t.me/joinchat/E3QlBQ83p2rMCu3qxQEwzw
Follow us on twitter at https://twitter.com/tokenttt