Community FAQ
Dear Naviaddress community,
Thank you for your time and questions during our last AMA on January, 18. Here is a short sync-up:
1. What is the purpose of Navi token?
NAVI token is an ERC-20 based utility token. Utility tokens enable users to have access to the company’s designated services. The main goal of purchasing these assets is to get access to the ecosystem.
As for now NAVI tokens enable payment for Premium Naviaddress at Naviaddress Auction on Ethereum public blockchain and provide the bidders with the opportunity to buy the rights to a secured digital Premium Naviaddress on the blockchain. Decentralization provides an exclusive right to a smart digital address and сonsequently ability to manage the linked digital metadata directly by the creator of a smart digital identifier. In the future we plan to add more services related to updating and adding data to Premium Naviaddresses to be paid by NAVI token. The platform will also charge our Country Partners an annual fee for the maintenance and further development of our dApp as well as a transaction fee for every sale of Premium Naviaddress in the secondary market.
2. Why not burn all the locked team tokens?
Tokens of the team members are their possession, the company cannot make any decision to burn the tokens owned by the team members. These tokens are an incentive for current team members to be with the project within the coming 3 years. Please note that NOT all tokens allocated to the team fund will be in their possession when the 36 months’ lockup expires. The significant portion of tokens of the Team’s Fund represents a source of incentive for new talents attraction and retention.
The tokens allocated for the platform development fund are used according to the stated purpose in the WP. Also, the burn of tokens unsold during the ICO proved that this action had no effect on the price of the token. Hence, we do not see any reason for burning tokens from the platform development fund.
3. Why auctions don’t affect the price?
An auction for a Premium Naviaddress allows purchasing the Premium Naviaddress with NAVI tokens. The interaction on the platform cannot affect the NAVI token price at the exchange unless a bidder has to buy NAVI tokens to make a bid to participate in the auction.
4. How to buy a container? Is it possible to purchase a Naviaddress or a container for partners with fiat?
The only way to buy a right to a Premium Naviaddress or a federal/regional container of Premium Naviaddresses is for NAVI tokens through our dApp.
5. How many federal containers were sold?
The only federal container so far was sold in Cyprus during the test sales. Here’s the payment transaction: https://etherscan.io/tx/0xa31d17fe951ec84c7f46e921d98400826622e5af1465b8b207727c4933ce9360
During the test sale of a federal container 4,993,390 NAVI tokens were burnt.
6. How a potential partner buys a container?
The opportunity to purchase a federal/regional container is a matter of negotiations between a potential partner and the team. To apply for a country partner, one should have relevant competencies, sales and marketing resources at hand and access to distribution channels. The partner should be able to provide a sales ramp up in a particular region and agree with us on a business plan to market and sell Premium Naviaddresses in the region as well as to identify the needs of the target audience, assist in tests of the product hypotheses to develop right features for the best market fit, assist in localization of our products and services. The only way to get ownership rights to a federal/regional container of naviaddresses is to buy it for NAVI tokens through our dApp.
7. What was the team doing during the last 2 months?
Please, review our latest Progress Update.
We believe that real product and real clients are the most important drivers of any startup. That is why we are developing several addressing products for different target audiences in parallel with blockchain dApp:
- for small and medium businesses to create a digital business profile with an access to customer interaction services without additional costs for webpage developers;
- for travel industry (international tourists and expats) to reduce difficulties in understanding, explaining and authenticating location at the point of travel as well as to integrate and provide local services in a seamless and intuitive manner;
- for media businesses to improve online-to-offline experience and increase the efficiency of advertising;
- for e-commerce and delivery (for hardcore e-commerce shoppers) to improve the last-mile experience, storage and usage of user-specific data for better services and customer experience;
- for non-finance asset management (engineers/autonomous vehicles to service the infrastructure) to track the equipment and make more efficient fact-based decisions on repairs or change.
8. Where is the marketing?
There have been tons of marketing hours spent in customer discovery and customer development. The Product and Solutions are still at the early stage. That is why marketing is concentrating on research, consumer insights, and needs, developing and testing product features and hypotheses to preserve cash and eliminate time wasted on building features and products that customers do not want. There will be a lot of PR and promotions once we see a solid flow of customers whose needs our products and the platform are solving.
9. How many active users do you have in your app?
The total number of users of a Naviaddress application (both iOS and Android) has reached 100k. We have an average of 6000 active users monthly. Most of the users are checking the information in the already existed Naviaddresses, for example, the address and opening hours information of the pick-up points of delivery services.
10. When is the next AMA?
Next AMA will be held on February, 22.
Stay tuned!
Resources & useful links:
• naviaddress.com
• twitter.com/naviaddress
• medium.com/naviaddress
• https://t.me/naviaddressnews
