Merculet Basic Review
|Start ICO||04 May 2018|
|End ICO||04 May 2018|
Ticker symbol: MVP
Project type: Blockchain service
Extended Company Description: Merculet is a platform providing content distribution services and allowing users to monetize their attention.
Company: Magic Foundation Ltd.
Public ICO start date: 04/05/2018
Public ICO end date: 09/05/2018
Token sale duration (weeks): 0.7
Token type ERC20
Total emission: 10,000,000,000
Tokens available (Pre-Sale + Public ICO): 3,000,000,000
Price of 1 MVP: 0.0059 USD
Accepted payment: ETH
Token role: functional
Merculet is a platform which provides content distribution services and allows users to monetize their attention. The project ecosystem includes consumers, entrepreneurs, content creators and advertisers. The network enables consumers to monetize their own data and their attention. Meanwhile, it also helps entrepreneurs to distribute information about their brand through commercials and other content.
The platform provides the following services:
- an open platform to connect all stakeholders in the ecosystem.
- monetization of the user's attention.
- Shou Cheng Zhang (https://www.linkedin.com/in/shoucheng-zhang-ba49a174/) - Professor at Stanford University, Founding Chairman of DanHua Capital (Californiabased venture capital fund investing primarily in early-stage technology companies), Member of the American Academy of Sciences and the Chinese Academy of Sciences.
- Shen Bo (https://www.linkedin.com/in/boshen1011/) - Founder of BitShares (opensource, public, blockchain-based financial platform) and Fenbushi Capital (venture capital fund that focuses on building blockchain-enabled companies). He has 12 years of working experience in securities brokerage, hedge funds and investment banking. Previously, CEO of DACx and Managing Partner of Confederated Asset Management, Ltd. He was also the CEO of Shanghai HuaJi Internet Holding.
- Roger Lim (https://www.linkedin.com/in/limroger/) - Founding Partner of NEO Global Capital. Co-Founder of Webvisions - a pan-Asian cloud hosting company. He is an experienced Angel and Blockchain Investor, Advisor for Bluzelle, Open Platform, Qlink, CoinFi, Selfkey, TheKey, Tomocoin and the Switchcheo Network. He is also a Cryptocurrency and Blockchain Investor at RogerLim.net.
- Bin Sen Tang (https://www.linkedin.com/in/%E5%BD%AC%E6%A3%AE-%E5%94%90138839160/) - Founder of ELEX, successfully promoted the game of Happy Farm in more than 20 countries, influencing more than 500 million people in the overseas market. CEO of Beijing company Zhixing Star Technology Co., Ltd.
- Yue Feng Qiu (https://www.linkedin.com/in/yuefeng-qiu-6374b63/) - Partner of Roots Capital, has a focus on early stage investment in AI and blockchain. A hi-tech industry veteran with 20 years’ experience working with Fortune 500 companies predominantly in the areas of IT and R&D. Formerly Senior Vice-President of Pactera and Practice Manager at Hewlett-Packard.
- Iris Yin (https://www.linkedin.com/in/iris-yinguangxia-71109030/) - Founding Partner of Super Hash Capital, also Founder and CEO of Niu-Chuang Tech. She has a focus on early and middle stage investment in the blockchain industry. Strategy Consultant for several Internet companies and blockchain programs. Previously, Co-Founder and CEO of Paitao Tech., Brand Marketing Manager, Category Manager and Trade Marketing Manager at Procter & Gamble.
- Elex (http://www.elex-tech.com/) - Chinese game developer. The company was founded in 2008. Its headquarters are located in Beijing with branches, R&D and service centers in St. Paul, Nanjing and Hefei. ELEX is an influential game provider in the non-English speaking game and software markets of the world.
- SOLO Ads (http://ads.newborntown.com/zh/) – a company that provides developers with access to expensive mobile advertising campaigns. However, services for each developer are different by type of APPs including simple integration which requires only a few steps.
- TOOP (http://www.toop.club/) – a club that provides its members with high-quality services in the field of travel, medicine, education, capital management and etc.
- Magic Window (http://www.magicwindow.cn/) – the leading Chinese company providing smart content. It helps entrepreneurs to grow fast using latest technologies.
- Fenbushi Capital (http://fenbushi.vc/index_en.html) – is the first Chinese venture capital firm that exclusively invests in Blockchain-enabled companies.
- DHVC (http://danhuacap.com/) – a venture capital fund that invests primarily in early stage and growth stage companies with disruptive technologies or innovative business models, big market opportunities and strong management teams. The fund's areas of focus include AI, AR/VR, Big Data and other technologies.
- Krypital Group (https://krypital.com/) – a leading marketing firm which specializes in comprehensive Blockchain marketing services to clients worldwide.
- Roots Cap (http://www.rootscap.com/) – a leading investment fund in England which focuses on new technologies, such as big data, finance, consumer upgrades, corporate services, intelligent equipment (VR / AR), etc.
- Tokeneed (https://tokeneed.com/) – a listing platform for ICO projects.
- Dushu Foundation – (N/A)
Attracted funds: N/A
The project is based on a platform for content distribution and the monetization of user's attention.
Strengths of the project:
- strategic partnerships.
- experienced team and expert advisors.
- target market for the project shows high growth rates.
Weaknesses of the project:
- there is no MVP in public access.
the project team has not disclosed the scaling strategy or methods for attracting users, which may negatively affect the number of users on the platform.
According to the analysis of Statista, by 2020, the digital advertising market will have an annual growth of 17% and will be worth $335.48 bn.
Main trends of the market are:
- personalization of the offer.
- video content distribution.
- credibility of the brand is strongly influenced by the recommendations of other users.
Comments: The market shows a high growth rate, which suggests the project has a chance of occupying a niche. The project will be focused on mobile advertising.
During our research we highlighted competitors as follows:
- Viuly – a platform for distribution of content amongst users.
- Decent – a platform for content publishing and distribution.
- Basic Attention Token – a platform for content exchange.
Summary: A key advantage for Merculet is the opportunity for entrepreneurs to create their own tokens to reward users.
The platform is built based on Blockchain technology.
The platform architecture will include a layer designed to create a free Internet resource without a Gas fee, as well as real-time feedback in accordance with a relatively reliable infrastructure.
As for the specific technology, the first phase uses Hyperledger Fabric and technical stack. [https://www.hyperledger.org/projects/fabric]
Merculet will use 4 protocols:
- ATP: Attention Tokenization Protocol. The protocol will digitize behavior and evaluate the user's attention.
- ARP: Attention Reward Protocol. The protocol rewards the users for their attention.
- UCP: Universal Content Protocol. It contains a group of sub-protocols to support the entire content distribution process including content import protocol, content export protocol, content consumption protocol, content distribution protocol evaluation and billing protocol.
- UIP: Universal ID Protocol. The protocol will identify users. In particular, the protocol will monitor compliance with copyright law.
Protocols will be available to application developers (entrepreneurs).
Merculet has built an Attention Value Network. The network includes:
- User Attention Value system. It will measure the value of a user’s attention and integrate it with traditional reward-point systems.
- UAT (User Attention Tokens). These are tokens for entrepreneurs. UAT will be used to anchor MVP. Entrepreneurs can release UAT tokens for their users based on their attention. Users receive UAT tokens which are subsequently exchanged for MVP.
- Open Content Platform. The platform can be used for advertising and content distribution.
The ecosystem will allow:
- users to receive rewards for viewing content and commercials.
- entrepreneurs to advertise and attract users.
- content creators to create premium content and translate into other languages for rewards.
- advertisers can integrate their advertising space on the platform.
The platform also assigns reputations to its users. Reputation is assigned as a result of voting and on the basis of:
- identification: registration date, number of subscribers, information about yourself and etc.
- activation: number of comments, likes, etc. by other users.
- values: speed of circulation of tokens created by entrepreneurs.
- contribution: assistance in platform development, i.e. translation of content, data exchange etc.
Initially, all the space will be divided into 10 topics in order to control the content. The designated user will be responsible for each topic.
Comments: The project uses existing technologies that have proven themselves in the market.
In the future, with the development of technology and the amount of data they plan to implement the following:
- Q2 2018 - AVN system β1 release, supports ATP, ARP, UAT, contracts, and algorithms, UAV system 1.0 release, Application Market β1 release, Open Platform Product Design, platform testing for partners.
- Q3 2018 - AVN system β2 release, Attention Purse β1 release, UAT Application Market Version 1.1 release, Open Platform β1 release.
- Q4 2018 - Attention Purse β2 release, Open Platform β2 official release. - 1st half of 2019 - infrastructure upgrade.
- 2nd half of 2019 - infrastructure upgrade and smart contract support.
Comments: The team has presented a step-by-step strategy for project development.
Currently, the smart contract is not available in the public domain.
We have analyzed the Merculet documentation and website for sufficiency and consistency for making an investment decision.
Information about the project is contained in the White Paper and Project Paper. The documentation is presented in English. The White Paper is also available in English and Chinese and presents a description of the project. The main emphasis is on the description of the project infrastructure. However, information is frequently repeated throughout the White Paper.
The website also provides information about the project, the Roadmap, the ICO, the partners, the team and the advisors. The website is presented in English.
Summary: The documentation gives a comprehensive view of the project. The project is described in sufficient detail in the documentation.
Percentage of tokens issued for sale: 30%
Public ICO start date: May 4th, 2018
Token type ERC20
Accepted payment: ETH
1 MVP price: 0.0059 USD
Crowdsale duration: until May 9th, 2018
MVP tokens will be available as a means of payment. Entrepreneurs will pay for advertising on the platform and subscriptions, tokens will also be used as rewards for users, rewards for translators of content in different languages and creators of high-quality content.
Token limitation: 10,000,000,000
Advantages for token holders: tokens are functional, users may either sell them or use them for accessing/purchasing platform services.
Additional token emission: none
April 5 - April 18 - private sale.
1MVP = 0.000011 ETH.
May 4th – May 9th - public sale.
1MVP = 0.000014.
Hard Cap: 37,000 ETH
Soft Cap: 10,000 ETH
Bonuses: 25% for private sale
Link to the bounty program: https://bitcointalk.org/index.php?topic=3169855.msg32792573#msg32792573
The project will allocate 20,000,000 Merculent tokens (MVP) to the bounty (0,2% of the total number). The program is open in the following areas:
- Bitcointalk - 19% - 3,800,000 MVP.
- Content (Blog & Media) - 20% - 4,000,000 MVP.
- Reddit - 5% - 1,000,000 MVP.
- Telegram - 4% - 800,000 MVP.
- Social media (FB, Inst, LinkedIn, Twitter) - 52% - 10,400,000 MVP.
Summary: The project’s bounty program offers plenty of options. All conditions are available at the link shown above.
Token and Funds Allocation
Tokens and funds will be allocated as follows:
Summary: Tokens do not affect the company share allotment. The reward system is built so that it is cheaper to buy tokens earlier. There are lockup periods for tokens belonging to the team and advisors.
Roadmap of the project
- 2Q 2018 - at least one of the partners is onboard, and finish testing for 15 plus partners.
- 1st half of 2019 - content localization & internationalization.
Summary: On the basis of the project documentation, the team is focused on attracting partners and developing its product in a corporate environment.
The team includes 10 members and 6 advisors. The LinkedIn profiles of key members provided the following information:
- Ivan Jiang (https://www.linkedin.com/in/ijiang/) – CEO of Merculet, Founder of Magic Window, previously, Vice-President of the Engineering Department at AdMaster Inc. and Principal Engineer at SAP SuccessFactors. He also has experience working for HP as a Software Engineer.
- Shen Jun Zhang (https://www.linkedin.com/in/zhangshenjun/) – CTO at Merculet, Co-Founder and CTO of Magic Window. He previously worked as an Associative Principal Engineer for EMC and Engineering Director at Admaster Digital Marketing.
- Jerry Gao (https://www.linkedin.com/in/%E6%B3%A2-%E9%AB%98-bb2402131/) – CPO at
Merculet. He is also the CPO for Magic Window. Previously, the Senior Product Manager for Jingshuo and Product Manager for Tianyi Video Media Co., Ltd. He was responsible for UX/UI (user interface and experience with the platform).
Summary: All team members confirmed they are taking part in the project. Most of the team are from China. The team also includes: a data specialist, chief developer, head of mobile development, operational director and specialists responsible for global business development.
Information on the project is available via most major services such as Twitter, Telegram, Reddit, Medium, Facebook. The project has an active bounty program.
The team has started a social network marketing campaign as well. Their Twitter and Facebook newsfeeds are updated regularly. The majority of articles are reviews of the project and appear to have been written by order of the team.
Comments: The project’s social network audiences show a high level of interest. The marketing campaign is mainly developed via Facebook and Twitter.
The results of Merculet traffic analysis, based on Similarweb.com data, are as follows:
Traffic source: https://www.similarweb.com/website/merculet.io
Comments: direct: 80.73%, referrals: 6.88%, search: 3.5%, social: 0%, mail: 0%
Search traffic: 3.5% (100% from this is organic traffic)
Summary: Based on the data available, we can say that the interest of users is gradually growing. The team conducts an active advertising campaign on Twitter and Facebook, communicates with users via Telegram and operates a blog on Medium.
You can contact the developers via the following links:
The information contained in the document is for informational purposes only. The views expressed in this document are solely personal stance of the ICOrating Team, based on data from open access and information that developers provided to the team through Skype, email or other means of communication.
Our goal is to increase the transparency and reliability of the young ICO market and to minimize the risk of fraud.
We appreciate feedback with constructive comments, suggestions and ideas on how to make the analysis more comprehensive and informative.