crushcrypto ico review merculet (mvp) · 2018-04-13 · mvp token sale summary • project name:...

ICO Review:

Merculet (MVP)

Rewarding User Attention with TokensApril 13, 2018

PROJECT OVERVIEW

What is Merculet?

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• Aims to increase

user adoption,

retention, and

engagement for

enterprises

through their

Attention Value

Network, and

related supporting

applications and

components.

http://www.crushcrypto.com/

PROJECT OVERVIEW

User Attention Value evaluation system


• The User Attention

Value (UAV) serves as a

tool to provide a

reasonable valuation of

a users’ attention

relative to the business’

or entrepreneurs’

needs.

• The UAV system is

integrated with

traditional reward-point

systems, through a set

of open protocols.


PROJECT OVERVIEW

User Attention Tokens


• The Attention Incentive

system will allow the

business side to create

UATs (User Attention

Tokens) which will be

awarded based on criteria

met by the business.

• The UAT will be anchored

to the basic MVP token

with different rates,

enabling the synergy and

the value exchange

between entrepreneurs.


PROJECT OVERVIEW

Open Content Platform


• This will serve as a hub for created

content on the network, where

various levels of contribution (i.e.

translating) will be rewarded MVP.

This encourages a robust

community that actively engages

on the platform.


PROJECT OVERVIEW

Development roadmap


Perfect User Attention

Based Growth

Methodology

Design of AVN

System and

Verification of POC

Release AVN system

β1 & Application

Market β1

Content Open

Platform Product

Design

Release AVN system

β2, Attention Purse

β1, UAT Application

Market Version 1.1 &

Open Content

Platform β1

Release Attention

Purse β2 & Open

Content Platform β2

Support the exchange

of between UATs

AVN 1.0 onboard

Content localization

& internationalization

MVP commercial

applications and

distribution scenarios

Open Content

Platform

Consensus

mechanism of

application layer,

Reputation system,

etc.

Underlying

technology upgrade

Native Token & Smart

Contract Early Support

“De-Merculet-lization”

of all aspects of the

ecosystem and

advancement of

health development

for the community

without Merculet

participation

1H 2018 2H 2018 1H 2019 2H 2019


TOKEN SALE OVERVIEW

MVP token sale summary

• Project name: Merculet

• Token symbol: MVP

• Website: https://merculet.io

• Hard cap: 37,000 ETH (21,000 ETH to be sold in presale,

16,000 ETH in public sale / ICO participants receive 30% of

total tokens)

• Conversion rate: 1 ETH = 70,000 MVP

• Maximum market cap at ICO (fully diluted basis):

US$64M assuming current ETH price of US$520

• Bonus structure: 25% bonus for presale participants, with

5 month vesting period with 20% released every month

• Presale or white list: Yes

• ERC20 token: Yes

• Countries excluded: China and USA

• Timeline: Private sale ongoing

• Token distribution: 6 weeks after token sale completion

ICO SUMMARY


TOKEN DISTRIBUTION

35%

30%

20%

15%Foundation

Token contribution

Team & advisors

Marketing

USE OF PROCEEDS

55%30%

10%5% Tech development & research

Marketing & business development

Operations

Legal

https://merculet.io/


PROJECT OVERVIEW

Use of MVP tokens


• Used as a placeholder for the

protocol MVP chain until the

release of the Attention Value

Network. The protocol will

serve to enhance user

functionality for engagement.

• The value of the token should

increase based on the

number of people using their

network, and how many

commercial applications that

are developed to use the User

Attention model.


THE TEAM

Team and advisors


Ivan Jiang

CEO

Over 10 years’ experience

in software engineering

with the most recent

being with 魔窗(translated “Magic

Window”), an app growth

company, as its founder.

Shen Jun Zhang

CTO



with his most recent also

being with Magic

Window as its CTO and

co-founder.

Jerry Gao

CPO

Almost 15 years’

experience in front end

and UI/UX development

with the most recent also

being with Magic

Window as its CPO.

Kevin Wu

Chief Architect


in software

design/architecting, with

his most recent being

with Magic Window as its

chief architect.

Tony Shen

Head of Mobile

Development



and mobile development

with the most recent

being with Magic

Window.


OUR THOUGHTS

The opportunities


• By using Merculet’s platform, users will be able to make money without changing their

behavior on app usage, which makes it enticing for them to engage on the platform.

• The team is comprised of experienced entrepreneurs who have relevant experience in

the app growth space.

• The project is backed by various institutional investors, meaning that it has passed the

scrutiny of those investors.


OUR THOUGHTS

Our concerns


• The project has not released alpha/proof-of-concept, therefore, it is essentially a white

paper project.

• The UAV evaluation could be tricky because users will try to game the system to

artificially inflate their UAV score. If users manipulate UAV scores, it would make ad

targeting less effective for advertisers.

• Even though Merculet has a few partnerships in place, it is unclear how those

partnerships will drive the adoption of MVP tokens. For example, we believe it is unlikely

that tech giants like Alibaba and Tencent are required to purchase MVP tokens to place

ads on the platform.

• The key team members are all working at Magic Windows. It is unclear how they will

allocate their time between the two ventures.


OUR THOUGHTS

Our views

For flipping: Neutral.

• In the current market environment, we believe the hard cap of 37,000 ETH is rather high for this

type of project, especially considering that the project is at a very early stage.

For long-term holding: Neutral.

• The go-to-market strategy of the project is unclear to us. We are unsure how Merculet will attract

users and gain adoption of its tokens. Therefore, it is hard to gauge how likely the project will be

successful long-term. The fully diluted market cap is also fairly high amid the current market

environment.



crushcrypto ico review merculet (mvp) · 2018-04-13 · mvp token sale summary • project name:...

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