ICO of the week: EtherParty
What’s the project about: the system of the Etherparty enables smart contract creating on the platform.
Crowdsale time line: 01/10/2017 – 31/10/2017
Project target: the sum of 1 billion Etherparty tokens will be generated during the ICO, nearly 4 hundred mln have been acquired prior to the official crowdsale. Minimum investment goal set by the founders is one million USD, while the maximum capitalization as stated in the whitepaper will be 50 mln USD.
About the Initial Coin offering:
The project gives participants tools to create and launch the needed amount of smart contracts. The Etherparty’s founders aim to automize the way smart contracts may be generated, so it becomes a simple help yourself service like sending a mail or drawing up an agreement – something that really anyone can do. Etherparty is really for young starters in blockchain, even beginners will be able to generate smart contracts and distribute applications using the simple instruments embedded on the platform. Smith & Crown compared EtherParty to WordPress working on Ethereum. Smartcontracts created on the ERC 20 standard platform can be accepted for any type of operations: an escrow wallet P2P, generation of native tokens for casino or gambling, agrements for real estate and other.
The Etherparty operates like a special app system in computer. One just needs to fill the forms. The mobile app is yet to come, it has already been announced by the founders along with drag & drop tools.
Etherparty’s business model is freemium. Users simply get free subscription: thanks to it, they are free to use a specified amount of contracts during a certain period of time, lets say one month. So the basic options are absolutely free for participants. Founders of Etherparty are planning to charge fees from users, if those decide to use more sophisticated smart contract generation instruments.
The native tokens needed for transaction processing are FUEL tokens. They will be acquired by user who prefer to pay and get extras, all calculations on the platform will be made in fiat currency.
Key selling point you need to know:
The platform’s test version is already operated, users a free to have a look at it on the Ropsten test system
Obviously Etherparty is Ethereum based, using ERC20 token standard.
The interface of Etherparty will use scrypts and contain a decentralized storage.
Etherparty is planning to invest 50% of its funds for further scalability and in depth blockchain development. A library with smart contracts is going to be left as part of the planned future scalability of Etherparty.
Credible investment funds like Renaissance Equity or even TAAS supported Etherparty.
List of team member:
Etherparty belongs to Vanbex Group, which is located in Canada. It has been providing cryprtocurrency services in the industry of crypto currency and blockchain for over several years so far. Mr. Hobbs is the decision maker in the company. By no coincidence Hobbs is known for taking the CEO position in Vanbex. One of the interesting facts about him is that he also known as founding partenr of Genisys platform. COO is Lisa Cheng. She holds two postitions simoultaneously, staying at the wheel of the Research and development in both Vanbex and Etherparty. Brian Onn, known as Etherparty CTO, he is the authors of the platform’s architecture, the technical solutions, suggested by him play the core role in the project. Mr. Onn has extensive and vivid portfolia: nearly 3 decades life were devoted to developing. Among his past creations in the area of cruptocurrency is an altcoin.