Following the release of our advertising app demo last week, we’re thrilled to announce that Qchain’s ICO is now open, beginning at approximately 9:00 pm GMT, October 24th.
How To Participate in the Crowdsale
- Go to qchain.co/crowdsale
- Create a Zerion account
- Enter your information when prompted
- Follow the instructions for EQC and XQC respectively
We will also accept BTC manually via this form: https://goo.gl/forms/RM7aE3at4U1GN2rW2
You’ll find a comprehensive guide to our products and crowdsale below.
Qchain is an upcoming digital marketing, advertising, and analytics platform built on NEM and Ethereum blockchain technology. We seek to leverage the strengths of both NEM and Ethereum to fulfill our long-term vision of becoming a comprehensive marketing and advertising platform that is secure, reliable, scalable, and decentralized.
We have launched a demo for the first piece of the platform, Qchain Advertising, which is an application focused on connecting digital advertisers and content publishers through an advanced direct buy marketplace. We are also in the process of developing our second application, Qchain Surveys, which will provide an enterprise paid survey service for marketers, pollsters, and academics to inform their research. We will add applications in the future as we see fit to fill out the platform and fulfill or aims of building an entire end-to-end ecosystem for digital marketers and advertisers who want to run their whole workflow on blockchain technology.
To fund the continued development of the platform, we at Qchain are pleased to announce an open crowdsale for our two tokens that will service the Ethereum and NEM back-ends of the Qchain plattform. The tokens consist of the Ethereum-based and ERC20-compliant Ethereum Qchain (EQC) token, and the NEM-based XEM Qchain (XQC) mosaic.
The crowdsale begins October 24th, 2017 and will end on December 5th, 2017.
To participate in our crowdsale, visit www.qchain.co/crowdsale and create an account on the forthcoming interface powered by our partner, Zerion.
There will be three agents interacting within our advertising application ecosystem: advertisers, publishers, and hosts. Within the Qchain ad network, hosts replace a centralized man-in-the-middle agent (such as Google) that exerts singular control over content, policies, and payment. Our host mechanism democratizes these functions across a decentralized network of nodes that confirm the terms chosen and agreed upon by advertisers and publishers via distributed consensus. This unique and innovative model enables thorough decentralization across all of the major functions of our platform, better protects against fraud and censorship, and improves scalability by not relying on a central party for distribution and verification of content and confirmation of transactions. Additionally, this maintains the privacy and accuracy of data on our platform, improving the quality of subsequent analytics. For our initial rollout, advertisers and publishers will connect with each other through our advanced augmented direct buy marketplace, which you can preview in our demo. We will implement programmatic marketing features and services to complement our direct buy marketplace in the future. We illustrate our plan for the creation and execution our advertising application in greater detail in its white paper and a forthcoming technical prospectus that will elaborate on the application’s coding and engineering. The creation of the direct buy marketplace will be a step towards a goal of creating a robust demand side platform for advertisers.
The Qchain demand side platform (DSP) will be a significant expansion of our direct buy application. The first rollout of the Qchain DSP will resemble traditional DSPs in structure and reliable function for advertisers looking to purchase ad units from content creators. We will facilitate the offering and auctioning of not only website display ads, but also video, podcast, native, and mobile app units with the use of our tokens.
Issues of trust, transparency, and openness have long hounded traditional DSPs. Hence, we will differentiate ourselves from traditional DSPs by offering dramatically increased transparency to our users that is made possible by the deployment of our infrastructure on blockchain technology, which allows for the public ledgering of advertiser and publisher and supply side platform (SSP) transactions. Transactions will be openly documented and easily searchable, such that advertisers can have a clear sense of how their advertising spending is being partitioned, and publishers can see easily track the fees and costs that were deducted to result in their final payout. The accessibility of a public ledger will also allow for easier detection and policing of ad fraud instances by third parties.
Paid Survey Application
The intention of our paid survey application is to enable marketers, pollsters, academics, A/B testers, and other survey makers to quickly and securely obtain participant data to inform their research, predictions, and decisions by easily and smoothly opening up their surveys to college students, homemakers, and anyone looking for supplementary income. Researchers will enjoy similar advantages as advertisers do in our advertising application: they will be able to maintain control of their funds without transferring their control to a central agent. Furthermore, they will not have to go through a lengthy approval process and will be able to submit studies immediately after their registration. Participants will be able to receive immediate payout of EQC or XQC to their own wallets, following verification of their survey completion. This is in drastic contrast to most major paid survey sites presently, where participants must meet a high threshold of earnings from surveys before they are able to withdraw. Even worse, these thresholds are often filled with many caveats that prevent withdrawal, resulting in a massive waste of time for users.
Personal Data Marketplace and Management Application
The Qchain Personal Data Management and Marketplace (PDMM) application will revolutionize how everyday Internet users and marketing and advertising firms transfer and interact with user data. The application will give Internet users the ability to tokenize and permissionize their own data online, transforming the concept of digital data ownership and essentially allowing users to serve as their own data brokers. Users will be able sell data that they are comfortable with sharing via instantaneous auctions to marketing and advertising firms. Meanwhile, marketing and advertising companies will benefit from having access to an ethical avenue for purchasing and collecting data that users have openly shared. Furthermore, advertisers and marketers will be able to save costs by reducing the need for middlemen data management platforms (DMPs) to harvest and acquire second and third-party data at the behest of those companies. In short, the PDMM application will provide mutual benefit for Internet users and marketing and advertising companies. Functionality for the PDMM application will be integrated with our paid survey and DSP advertising applications.
- The crowdsale web-page is located at www.qchain.co/crowdsale
- For the EQC portion of the crowdsale, only Ether (ETH) will be accepted. For the XQC portion of the crowdsale, only XEM will be accepted.
- Contributions will be sent to two multisignature wallet addresses, one for ETH donations and one for XEM donations.
- A hard cap maximum of 75,000,000 EQC and 75,000,000 XQC tokens will be sold for each crowdsale, representing 60% of the respective supply for each token. This equates to a hard cap of 18750 ETH for the ETH portion of the crowdsale and 18750000 for the XEM portion of the crowdsale.
- The amount of EQC or XQC tokens ultimately sold will represent 60% of the total respective EQC or XQC supply.
- There will be a 15% token bonus for participating in our crowdsale until October 31st, 9 pm GMT. There will be a 7.5% token bonus for the following week (seven days) thereafter.
- The crowdsale will last 42 whole days, or until the entire token supplies are exhausted, whichever occurs first.
- Tokens will be created prior to the commencement of the main crowdsale. Tokens will be transferred in real-time to contributor accounts after their contribution is received.
- Untransferred tokens from the initial supply not purchased during the crowdsale will be burned.
- The minimum threshold to be met for the ETH crowdsale will be 1000 ETH. The minimum threshold to be met for the XEM crowdsale will be 100,000 XEM. If these thresholds are not met, failure will be declared and existing donors will be refunded.
- The XQC to XEM exchange rate will be at 4 XQC per 1 XEM. The EQC to ETH exchange rate will be at 4000 EQC per 1 ETH.
- The code for the crowdsale will undergo testing and audit by the Ethereum smart contract development firm Zerion and core NEM developers before launch to ensure the security and integrity of the code.
- Resident from the US state of New York and countries sanctioned by the US Office of Foreign Assets Control (OFAC) will be blocked from participation in the crowdsale interface. The OFAC-sanctioned countries to be IP-banned are as follows: the disputed Crimean region, Cuba, North Korea, Sudan, and Syria.
When is the crowdsale?
The crowdsale will begin on October 24th.
Where and how can I buy your tokens?
A directory of the main website will be created at qchain.co/crowdsale with instructions for participating in the token launch once dates have been announced.
Contributors will be directed to two multisignature wallet addresses: one for ETH purchases and one for XEM purchases. For the EQC portion of the crowdsale, only Ether (ETH) will be accepted, and for the XQC portion of the crowdsale, only XEM will be accepted. Tokens will be created before the crowdsale and transferred to contributors after their ETH or XEM contribution.
You will first need to have your own personal account/wallet for ETH and NEM. Then, you go onto an exchange and buy ETH or NEM, and transfer that to your personal account/wallet.
During the crowdsale, you buy EQC with ETH, and buy XQC with XEM. Send ETH and XEM from your personal wallet to our designated addresses, and you will get EQC and XQC back, respectively.
What are the regional restrictions for participating in the crowdsale?
For legal safety, IP addresses from the U.S. state of New York and from countries or regions comprehensively sanctioned by the US Office of Foreign Assets Control (OFAC) will be blacklisted from accessing the crowdsale interface. As such, residents from New York State and OFAC-sanctioned countries or regions will not be allowed to participate in the crowdsale.
At the time of this writing, very few countries and regions are comprehensively sanctioned by OFAC. The scope of OFAC sanctions programs can change at any time, and new sanctions programs can be created without prior warning, so we cannot say whether a given country or region will have OFAC sanctions at the time of the crowdsale. A list of active sanctions programs, details concerning their scope, and links for more resources can be found at the U.S. Department of the Treasury’s website.
For now, the IP addresses from the following comprehensively sanctioned countries and regions will be blocked from participating in the crowdsale: the Crimean region of Ukraine, Cuba, Iran, North Korea, Sudan, and Syria.
How many tokens will be available for purchase?
A static maximum amount of 125,000,000 tokens will exist for each blockchain after the Ethereum token and NEM mosiac crowdsale, such that there will be a total maximum of 250,000,000 tokens. Sixty percent of these will be sold in the crowdsale, which is 75,000,000 tokens for each blockchain.
Will the crowdsale be secure?
Our code has been extensively tested and security audited by Zerion, leading developers of blockchain technology. Zerion itself will contract third party auditors to review their code.
How will funds from the crowdsale be used?
The majority of funds, approximately 80%, will be used for product development, workforce expansion and compensation, and physical company costs. 10% will be used for marketing and legal expenses, and the final 10% will be held as a contingency reserve. These figures are based on current estimates and may change as needed.
Are the crowdsale funds being kept in a way that ensures community trust and accountability?
We here at Qchain are 100% committed to conducting our crowdsale in a fair and ethical manner.
For token holder security, ETH and XEM funds will be held in escrowed 5-of-6 multisignature wallets, and two accounts of each wallet will be controlled by a third party. Our ETH crowdsale auditor, Zerion, will hold two of the accounts in the ETH 5-of-6 multisignature wallet. For the NEM multisignature wallet, two of the accounts will be held by distinguished members of the NEM community, Kailin and the NEM Foundation Vice President Jeff McDonald.
This gives crowdsale contributors robust protection, and it compels Qchain to be transparent with the 3rd parties and the cryptocurrency community. As a final measure of accountability, Qchain is US-based. Any donor can have confidence in contributing to the crowdsale.