Blockchain multimodal forwarder IMMLA to start first round of ICO with 43% upside
IMMLA, the consortium of international leading logistic and IT companies, including SBSolutions, Formag Fowarding, and experts from Hellman Worldwide Logistics, announced today the start of the first round of ICO.
On the first round, IMMLA team will offer investors 14.3mln IML tokens for the sum of 2747 ETHs. The price of 1 IML token during the second round ICO will be 43% higher than on the first. IML tokens will be step by step redeemed and then burned at the expense of 36% of IMMLA’s transportation revenue. Together with the use of the token in the work of the service, the buyback provides a basis for motivation for investors.
IMMLA’s first round ICO starts — at 00.00 GMT + 3, July 15, 2017 and finishes on 30th July 2017 or earlier. Second round of Initial coin offering on 170mln IML tokens will take place from 15th September to 15th October 2017. As soon as ICO is complete, IML tokens will be listed on several exchanges to provide investors with liquidity.
The base currency of IMMLA’s first round ICO is ETH. During the first round the IML token price is 0,000192 ЕТН, during the second round of ICO the price will be 0,000275 ЕТН. So early birds win the bonus of 43%. Pre-ICO is successful if more than 577 ЕТН (~$150К) will be collected, otherwise all funds are returned to pre-lCO participants.
IMMLA is planning to launch real third party transportations using smart-contracts based on Ethereum blockchain as early as in the 1st quarter of 2018. In the course of 5 years of step-by-step introduction to the service, all transportation modules will be included, and it will be localized to all large open economies — CIS, India, China, USA, Western Europe. According to the management team forecasts, they will take 1–2% of the global freight market in five years.
“International freight forwarding market is annually estimated at approximately 200 million teu’s (twenty-foot equivalent unit). Thus, the goal of 1–2% market share 5 years after the full-scale launch, constitutes roughly 3 million teu’s (to date, it is an approximate volume provided by the DHL company). Our estimations show that high quality service for around 8000 multimodal international transportations daily, including all the possible deviations from an ideal process, will be the minimum performance level that we will be able to provide over this time horizon”, — claims the founder of the IMMLA consortium Mikhail Astakhov.
The IMMLA service is based on the IT solution Logismart. It is developed by the one of the IMMLA consortium members and demonstrates its effectiveness in several dozen multinational logistic corporations. To this date, on the basis of this core product, annually tens of thousands of TEU-s are transported, serviced and supported both in terms of legal issues and document workflow. Expertise of the team both in logistic business and IT is extremely high in order to be able to foresee all the possible risks.
“Initially a client puts into the service the information about the necessity to deliver a specific cargo from one place to another at a specific time. Further, the platform through the use of statistical and forecast data provides the client with a price point for such service and an approximate delivery plan. If the client is satisfied with the basic conditions of the offer, then he places an order for a proposal formation”, — explains one of the founders of the project, Mikhail Astakhov.
The system, in turn, allocates the basic scheme of transportation among the registered participants, whose advertised and/or statistical profile allows them to take part in such transportation process. It also takes into account alternative delivery plans where it is possible to improve the price and/or time parameters.
IMMLA project mission is a simple, clear and convenient interaction between the owner of cargo and the transporter on all stages of the freight transport on the basis of Etherium blockchain and smart contracts. New technology allows to dramatically reduce trust deficit, information barriers and legal costs.
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