OneLedger - Tokenomics and ICO process review
Hi,
in this review we are going to take a look at tokenomics and ICO process of one of the best upcoming ICOs - OneLedger.
ICO process
Whitelist process was really smooth with queue system making sure that KYC provider does not get DDOSed by OneLedgers large community; team learned from first unsuccessful try and got things right the second time; overall consensus in community is very positive about whitelisting process.
Ambassador program - best to quote telegram pinned message: "We believe our Ambassador Program will be a fair and transparent token distribution to integrate the voice and talents of our community with the hard work and dedication of our team, thus continuing the OneLedger story far and wide."
In ambassador program there are 3 tiers and crowdsale allocations will be according to those tiers; while we don't have final numbers, these are rough estimates from telegram admins:
- tier 1 (up to 500 submissions): $1600 -> High-quality original content with good outreach via Twitter, Medium,Telegram, Youtube, etc.
- tier 2 (up to 2500 submissions): $800 -> Content sharing via Twitter, Medium, Telegram, Reddit, etc
- tier 3 (everyone else): $400 -> Everyone who is not tier 1 or 2 will be in tier3
In my opinon, ambassador program is a great way to encourage those in community who want to do more and support OneLedger thru their original content, spreading the word and making community as whole stronger.
Crowdsale process - everyone will have guarantee allocations according to their tier, making it less stressful, avoding gas war situations and frustrations in the community. Everyone will know in advance their min and max caps and have a reasonable time window to send eth making crowdsale a smooth and easy process.
Quick stats:
Hardcap: 15 million USD
Token supply: 1 billion OLT
For sale: 350 million OLT
Seed round: 1 million USD
Private presale I: 6 million USD
Private presale II: 3 million USD
Public sale: 5 million USD
OLT token distribution:
So, let's breakdown those quick stats.
Team is rasing $15M and in todays market that is really low for infrastructure project like this; there are many competitors rasing $50M and more, that is more than 3X what OneLedger is rasing. We can conclude that team is not greedy and they are only trying to raise the money they need to develop this project and bring it to market.
Token supply is 1B OLT and they are selling 350M OLT; 35% for sale when combining it with $15M cap is excellent. Team also showed care for community and listened when they raised concerns about individual token price being too high. So they reduced token price by 10x (from $0.52 to $0.052) and compensated that by rasing the supply by 10x. This changed nothing in hardcap or valuation, it just made token price nicer and vast majority of community happy.
Although private presale I and II were extremely oversubscribed (meaing all the big VCs (venture capital) and big investors wanted to get in and invest), team showed integrity and left a big chunk for public sale and community, $5M of $15M or 33%. In todays ICO landscape where hyped ICOs leave crumbles to community via public sale (often as low as 5-10%) its refreshing to see such big and well known ICO like OneLedger leaving 33% for public sale.
Conclusion
Whitelist and ICO process are well done and can serve as a benchmark for futures ICOs on how to do smooth and satisfying ICO. Team is selling a large portion to the crowd and they are giving everyone a chance to get it while being fair and giving better allocations to those who are willing to put in the work and help OneLedger.
When looking at tokenomics simply put - OneLedger is undervalued project with it's $15M market cap in today's market. Having such cap gives it, in my personal opinion, lot of upside post ICO making its great short, mid and longterm hodl.
This article is my personal opinion and not an finanical advice, please do your own due diligence.
This article is written by: @An_sev ; address proof, last 6 digits of eth address: c1901a