MenaPay ICO Review

Menapay is a very interesting ICO, it is very ambitious and broad in scope. It has similarities to other projects the most prominent being Omisego. It is a little more focused on a specific geographic location, the Middle East and Africa. It's looking to be the payment gateway for 420 million people across 18 countries in that region. Menapay has an ace up it's sleeve in this regard as it is a 100% Islamic compliant non-bank digital solution.

MenaPay token will be an ERC20 token so it has the stable Ethereum network to exist on and will have immutable and viewable transactions to build trust with the people and the merchants alike. The current advantages of the MenaPay token are:

• 75% profit sharing will be paid to MenaPay token holders
• Fast secure and inexpensive payments across boarders
• Desktop and Mobile Wallets
• 100% Islamic non-bank compliant
• MenaCash USD tether
• Face Recognition for Secure Transactions

Profit sharing is always a nice positive in a token I'm looking to invest in. It takes tokens out of circulation and that drives up prices. MenaPay only has a https://www.menapay.io/onepager.pdf available atm so it isn't completely clear but it looks like staking MenaPay tokens on your mobile phone or desktop will help secure the network an platform and process transactions. Having a mobile wallet is huge for this cryptocurrency recent polls have mobile phone ownership at 75 to 80% of the Earths population. This will give this population of people a secure way to store and spend money they have never had before. If MenaPay is successful this will lead to mass adoption in this local region and maybe even spark global adoption of cryptocurrency in general.

The 100% Islamic non-bank compliance is the big difference for this crypto compared to others. This is taking a huge population that simply won't use a bank due to their religious beliefs and giving them a Platform and a currency that allows them to save and spend money in a way they have never been able to. If just the people who believe in Islam start using this that would be enough to drive everyone else in the region to start using it.

Token usage, the most important part of any cryptocurrency review. If the token isn't tied to the platform sufficiently it can never go up in value and thus making it a bad investment. The MenaPay token is the driving force behind this platform. It is the payment medium, it's able to be staked to earn rewards, it is the payment for P2P transactions. So yes, the MenaPay token is tied sufficiently to the platform and will go up in value as the platform does.

Some good and some average things to say about this token distribution. 64% in the token sale along with 15% bounty is very very good. That's 79% of the tokens going into decentralized hands and should help make this token more stable once it becomes publicly traded. 16% to the Team and Advisors which is a very fair amount, the only problem here is there isn't a vesting period stated for the Team or Advisors (hopefully this will be addressed and added in the full whitepaper). Unsold tokens will be burnt is always a good thing, less tokens means yours are more valuable.

The hardcap of 25m is a little high atm. I don't want to go to negative on this because the ICO isn't scheduled to happen until November which is 3 months away. If the MenaPay ICO was to take place today I would be hesitant to invest because a 25 million dollar cap would put MenaPay at 218th on CMC. While I believe this project has great potential I like to see gains right out of the gate and that might not be possible in the current market climate. Now this all goes out the window if we have some growth in the next 3 months. The Desktop and Mobile app will be live when the ICO happens so people will be buying into a working and usable product (very rare).

If we see an uptrend or better yet a bullrun in the market this is an extremely good ICO to jump into. ~400 billion marketcap should see this token give a 3x to 4x return from ICO prices. With a working platform and the advantages it has with the region it's targeting, MenaPay should quickly crack to top 200 on CMC very quickly after exiting it's ICO.

Couple last notes. This region in general has very poor banking options (for those that would even use them) many many different currencies. Having one secure and easy to use currency would make life better and easier for the people there. The MenaCash USD tether is a big thing to remember as it will help keep volatility down. You will be able to trade 30 major cryptocurrencies for MenaPay tokens on their platform (They haven't listed them yet, hopefully in the full white paper). They are already working on integrating APIs and SDKs into their platform hopefully those will be live by the time the ICO finishes.

Link to MenaPay one pager: https://www.menapay.io/onepager.pdf
Link to MenaPay homepage: https://www.menapay.io

Disclaimer, I am not your financial adviser. Please do your own research on this ICO if the information I have provided sounds interesting to you as an investment.
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