Plentix ICO Overview
Plentix is a blockchain platform and application aiming to connect & reward participants through referrals. As it stands traditional digital marketing currently leads to low conversion rates, thousands of clicks or views rarely turn into physical sales and as a result, businesses have to invest a huge amount of money to reach a greater volume of consumers. What’s the solution? Plentix!
Plentix aims to significantly reduce the cost of identifying companies target markets which will, in turn, lead to higher conversion rates and customer loyalty. Word of mouth is still one of the best ways of referring a friend to a product you like because A) you are a trusted source & B) you are likely to have things in common and therefore like the same products/services. This is why referral marketing plans from massive companies have been so successful in the past. For example take Uber, typically if you refer a friend to using the app, they will get their first ride free and in turn, you get money off your next trip, it’s a win-win situation. This is why (despite being practical, cheap & efficient) Uber have become so successful.
Plentix will use these same marketing tools which will allow you to have better control over your referral plans in an easy to use, secure, safe and low-cost way. Plentix aims to fully automate your referral programs on the blockchain using smart contracts, it’s a decentralized open source platform providing API’s and useful features for the programmers using it.
In a nutshell when you buy a product you like or use a service you enjoyed the aim is for users to list it on Plentix platform. If a freind wants one of these product or services you can create a peer to peer referral form, which will execute the smart contract producing a discount for that product for your friend. You will be rewarded in a further discout for yourself or rewarded in tokens depending on what the company scheme is on referral programs.
Plentix offeres a scalable solution, giving businesses a wide range of intergated options to further enhance, track and expand their referral programs, whilse seemlesly plug into their CRM (Customer Relationship Management) and sales systems. Programmers can use the platfomer to write and integrate specifically tailored admin pannels for business to interact with, which is pretty neat. furthermore programmers will be conpensated for every business transaction they are involved in, so it could be a good passive income for budding programmers!
Token Sale — Presale 25th April / ICO 20th May 2018
Price: 1 Ethash = 0.02 USD
Bonus: 30% Pre-sale
Soft Cap: $3 million USD
Hard Cap: $10 million USD
Tokens for sale: 250 million tokens
Restricted areas: USA, China, North Korea
Whitepaper: Download from website
Before I start reading a Whitepaper, I always like to see if the three most important factors to a successful ICO are within investable range.
These variables can be summed up into three groups: 1st — Token economics & Product. 2nd — Team and Advisors. 3rd — Social media and general publicity.
The token economics are fantastic for Plentix with a nice low hard cap of $10 million, which is rare in these days of the ICO gold rush! The norm has slowly become between 20–30 million or more, so it’s nice to see an ICO have reasonable and realistic funding goals. 50% is allocated for the token sale which is more than reasonable too. One thing I did notice is that 20% is going to advisors & early investors, but also they’ve allocated 5% for, again, early investors & strategic partners. This is the same surely but it’s most likely a typo. If so that means that between 20–25% ($2 and 2.5 million) is allocated for advisors and investors. Although this sounds like a lot, because of the low hard cap it is actually fairly reasonable. For example take TraXion which has an whopping hard cap of $60 million, 20% of that is allocated to the team which equates to $12 million. So in the grand scheme of things Plentix are spot on and fairly modest with rewarding it’s team, advisors and early investors.
50% Token Sale20% Advisors & Investors15% Company Reserve10% Community Development5% Early Investors & Strategic Partners
30% Product Dev & Maintenance25% Business Growth & Dev15% Marketing & Customer Dev10% Reserve15% Operations5% Legal
There are 9 members to the Plentix team which is lead by Yashar Toopchi. He holds a Doctorate in Philosophy — PhD Computer Science from RMIT University in Australia. He was a Senior Security Consultant to Telstra, (not to be confused with Tesla) Global Infrastructure and Security Manager at Accenture, but most notibaly & recently he was Solutions Architect Team Lead at Cisco. We always like to see previous experience working for bluechip companies in ICO founders, so this is a huge plus.
Co-founder Alex Javdanitehran is the Chief Operating Officer and like Yashar he has also had experience in a huge company, Microsoft. He was the Senior Data/Business Analyst at Microsoft based in Kuala Lumpur, Malaysia and was a key member for just over 3 years. This is incredibly good for Plentix as anylysing business data is exactly the space they are going into. He will have the experience in processing key marketing data to companies and how they can improve their target audience with hopefully, the help of Plentix.
Sirus Moghadasian is the Chief Technology Officer (CTO) and his list of achievements & experience do not disappoint either. He is one of the 20 people in the world with 5 CCIEs. (Cisco Certificate) This shows a huge amount of boffin brownie points and the CCIEs is a series of technical certifications for senior networking professionals who design, build, implement, maintain and troubleshoot complex enterprise networking infrastructures. That’s massive! He was Solutions Architect for Cisco/Netxperts in the US, Enterprise Solutions Architect at Hewlett Packard Enterprise in Australia and also Architecture, Design & Strategy Lead at Accenture, again in Australia. With more more than 15 years in IT industry i’d say Sirus is more than qualified to be CTO of Plentix. Hurray for GEEKS!
There are 8 advisors on the board, which is a healthy amount. Most notable is Ali Ayyash who is the Co-founder & Lead Engineer at Beetoken. (which is one of Plentix strategic partners) He was also previous Lead Engineer at Google and Lead Engineer at Amazon. So this level of advise can’t be taken lightly and will be huge in the progress of Plentix.
Social Media and General Publicity:
As of 24th March 2018, these are the stats:
Telegram: 4,920 — Twitter: 4,600 — Facebook: 4,318— Instagram: 228
Considering Pre-ICO isn’t until the end of April I believe Plentix are way ahead of the game when it comes to general public knowledge & marketing of the ICO. They are regularly updating and posting on all social media platform and it’s rated highly by ICOBench.(4.5/5) It’s still reletively unknown to key crypto influencers and once one of them latch onto it, i’m sure it will rocket to the moon!
As a whole I believe Plentix have a super strong stellar team and set of advisors. There are a few different ICO’s with the same concept of referrals or targeted digital marketing using the blockchain out there as competition, but non with the experience and knowledge of this Aussie ICO! It has great token economics and has a successful POC and MVP version released already prior to ICO. The one thing that Plentix might struggle with as it becomes more and more popular is incentivising companies to use the native Ethash token as a reward. The reason for this is that as the token becomes more and more valuable, it will overtake the price of discount some companies might want to give away for a referral. If you are an investor you want the token to be worth as much as possible, so the team also have a vested interest in getting companies to use the token reward system as a priority too.
If you believe in this project, act fast and join the Whitelist as I can’t see this going past the Pre-ICO into public-sale.
Article written by Jedi — ICO Dog Team Member
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*** PLEASE REMEMBER THIS ARTICLE IS NOT FINANCIAL OR LEGAL ADVISE, PLEASE DO YOUR OWN DUE DILIGENCE WHEN RESEARCHING ICO’S, THIS IS JUST MY PERSONAL OPINION!***