Not only Ethereum ICOs, Waves on the run
tokenloyalty.io, Telegram of the project
Disclaimer: This article does not serve to negate Ethereum technology. It’s only purpose is to show that there are other technologies, worth to notice.
The market cap of Ethereum is approximately 28.5 billion USD. It means that, potentially, these 28.5 billion may be used into investments. Waves is on the run, with a 0.36 billion USD potential. A lot of people say that its cap is too small to make ICOs in this environment. I have a different opinion. So why people love so much this platform?
Platform for the people - the choice of tokenloyalty.io ICO
Waves is doing a great job in terms of making life simple for their users. The wallet for Waves is prepared in several channels:
- PC (On-line https://waveswallet.io/and Chrome extension)
- Android
- iOS
The wallet creation takes only couple of steps: writing a password and taking a backup of the seed:
Integrated solutions
What is most important, Waves in its cabinet uses two most important solutions:
- Gateways (with tokenization of assets)
- DEX
Gateways enable to send most crucial crypto into the wallet for contributions and investments into the ICOs: Bitcoin, Waves, Ethereum, Litecoin, ZCash. There is also available to send FIAT money (EUR, USD), but only in this case, it requires KYC/AML registration.
DEX is a decentralized internal exchange (or matcher, which is more compliant). What is the idea? It enables trade in blockchain among all the users of the network. It means, that every asset can be traded instantly.
Why we chose DEX in tokenloyalty.io? Why not ETH blockchain?
Mostly because of safety for our users and its simplicity in use. We didn’t want to use cabinet solutions and smart contract solutions due to risk of hack (of course, there is always some). But what is most important, in our business model, we really look forward to implementations that Waves is going to do (Like NG protocol). Even now the transactions are really fast, which is crucial in the loyalty system that exchanges internally tokens. After such implementation, the transaction should be even 10–100 times faster, which means, that loyalty token communication (exchange) among our customers should be in seconds. What also differs Waves from ETH is that on DEX there are constant fees: for internal transfers among customers its only 0.001 Waves. For business it means only approximately 0.0036 USD costs of internal transfers (less than one cent!!).
What about safety? Smart contracts are condition-built.
Yes, smart contracts are implemented such way that if one thing occurs, then another thing is run. For example, people send ETH into the contract and receive tokens. But what if people receive no-worthy tokens that never will be exchanged? DEX gives safety: the token is always trade able.
In case of our project important was to have a range of future customers of our system. But loyalty points have to have liquidity. That is why we decided to make the airdrop among customers, which generates the “small trade” and after the ICO the token will be fully trade able. This is a plus for our B2B customers; also they have a supply of liquid tokens from our B2C customers.
Another thing that convinced us was verification of the token. We entered into the procedure for tokenloyaly.io, had to show ICO site, that there is physical team behind it. In general, that makes it easier to take up decisions on investments into tokens that are listed with NAMES on DEX. Another step forward will be community voting and assessment, but it is future.
Waves project is evolving. Its genius was confirmed when Burger King entered into own marketing token. Why? Because Waves is built in terms of “Keep it simple”. It was just easy to use on mobile wallets by Burger King’s customers. It doesn’t require a lot of technical preparations and is a great business tool. I think this is the future in form of utility (non-security | non-financial) tokens.
Ok, but market cap! Market cap!
I told that I disagree that Waves is bad environment for tokenloyalty.io token. It is a matter of math and good work. There were successful ICOs like MobileGo on Waves. As for the math: the question is how many ICOs are made on each platform. There is a huge hype on ICOs. But there is limited amount of contributors. On Ethereum there is huge probability that there is a huge amount of ICOs in count to one contributor. On Waves, as it is in emerging phase, there is limited amount of verified ICOs, and this amount of ICOs per one contributor should be lower. That means, that (in probability) ICOs are more sophisticated, with larger influence of contributors for the final shape of the project, but still with balanced, decentralized structure, which is good for the business. This is strictly correlated with the quality of the project. When your project is good, people want to contribute independently of the network. Just got to know the project.
How to invest on DEX?
There is no simpler way than just enter the name of the asset you want and click buy with your assets. So it works a little bit like a cabinet. DEX matches the buy and sell deals among the users of the platform (like eBay): so if you cannot buy in one pair, you can always buy in another. For example, you can easily exchange ETH into Waves and the buy the token. But you can always buy token with ETH.
A movie how to do it: here:
Let us be open into innovation — let us open into Waves! Cheers!
