Uservice Basic Review
|Start ICO||17 Dec 2017|
|End ICO||31 Jan 2018|
Token symbol: UST
Project type: Cryptocurrency, Platform, Business services
Extended company description: Uservice is a single global decentralized blockchain platform for auto industry players based on the UREMONT auto service aggregator. [Website].
Company: LLC Light Aventura Limited
Public ICO start date: Dec 18, 2017
Public ICO end date: Feb 01, 2018 [https://usrv.io/en-US/uservice.pdf]
Token sale duration (weeks): 6.4
Token type: ERC20
Token emission: 1,000,000,000 [https://usrv.io/en-US/uservice.pdf]
Tokens available (Pre-Sale + Public ICO): 600,000,000
Distribution of invested funds:
1 UST price: 0.0005 ETH
Accepted payment: ETH, BTC, LTC, DASH
Bounty: Start date December 18, 2017
Token role: utility token
Team (number of people) 15
Advisors and partners (number of people) 8
Twitter: Posting - 66, Followers -181
Telegram: Subscribers - 369
Medium: Subscribers - 39
Facebook: Subscribers - 1832
Uservice is a single global decentralized blockchain platform for all auto industry players, which is a continuation of Uremont in the global market. [https://usrv.io]
Uservice is a platform built on the basis of the Ethereum blockchain that was created specifically to serve the automotive industry. The platform will ensure transparency for the industry participants by using smart contracts. Ethereum technology allows registering any deals and operations with automobiles on a distributed contract basis like Blockchain without using standard legal procedures. All operations are claimed to be clear, controlled and safe. [White paper]
Uremont.com is the main product of the Uservice team, and is a ready-made IT-platform for collecting, analyzing, forming a rating system and selecting auto service centers. This service will become the basis of the new Uservice blockchain platform. [White paper]
Uservice will provide the following services:
- maintenance and provision of car statistics
- registration of transactions between car owners and auto service centers
- selection of auto service centers, insurance companies, banks and other participants in the auto industry
- check of spare parts for originality
- obtaining analytics based on BigData
- purchase and placement of advertisement on the platform.
Manuk Hergnyan (LinkedIn) - Co-founder and managing partner at Granatus Ventures and EV Consulting
William Shor (LinkedIn) - Managing partner at Caspian VC (Uber and Hyperloop investor)
Vitaly Petrov (Wikipedia) - Formula 1 racer
Georgy Mikhaylets (Facebook) - Partner in WinPay, former advisor of General Director at SUE Mosgortrans;
Konstantin Tevosov (N/A) - Deputy Director of RESO
Ruslan Udin (N/A) - Director of Business Development in international bookmaker company Bingo-Boom;
Aleksey Knizhnikov (WWF Website) WWF expert, director of the project of ecological policy of energy industry.
WWF - World Wildlife Fund
Large insurance companies: In-Touch, Ergo, Reso, Rosgosstrakh, Ingostrah, Alfa Insurance, Renaissance Insurance, Europlan, Soglasie, the insurance company SURGUTNEFTEGAZ, Yugoria, Binbank Insurance, Polis Garant, Gayde, Energogarant;
The Uremont.com project has attracted $10 million according to the white paper. Unfortunately, there is no information on attracted investments by this service available on open sources (2 million attracted - Habrahabr million dollars was invested by the owner of the company).
The Uservice project is being launched by an active team that has created a successful service, www.uremont.com.
Strengths of the project:
- ecosystem is already successfully functioning
- team has ICO experience
- has well-known founders, advisors and partners
- has a fairly wide market
Weaknesses of the project:
- QR-code reading technology is being developed in a niche market which can limit the distribution of the service.
Based on communication with a team representative, we focused on the auto market for services and collection of analytical data on the industry for further optimization amongst the platform users.
The Big Data market for the automotive industry will show growth at the level of (CAGR) 12% (2017-2020). As for the market for car service provision, growth rate will be at the level of 14% (Technavio); the auto insurance market will grow by 5.91%.
We calculated the number of participants in the market segment to which the project is oriented: according to calculations, there are 283,657 service station firms and 87 million insurance companies worldwide.
The team claims that the number of cars worldwide was already more than 980 million by 2010. We agree with that conclusion and also add that 93 million new cars were sold worldwide in 2016 (LMC Automotive).
[https://www.researchandmarkets.com/research/ddq2tq/big_data_in_the]; [https://www.technavio.com/pressrelease/maintenance-repair-and-operations-services-market-analysis-and-forecast]; [https://www.prnewswire.com/news-releases/global-motor-vehicle-insurance-market-2016-2020---key-growth-driver-is-mandate-to-buy-insurance-policies---research-and-markets-300284545.html]; [https://www.statista.com/statistics/194232/number-of-us-insurance-brokers-and-service-employees/] [https://www.statista.com/statistics/436416/number-of-auto-repair-and-maintenance-shops-in-us/]
Regarding the car maintenance, according to LeasePlan the cost of owning a car in different countries ranges from $430 to $835 per month.
Based on the above statistics, and the coverage of all services required for a full cycle of car maintenance, the team expects a market valued at $2.7 trillion. [White paper]
Comments: The team has carried out a market analysis but it is only indirectly related to the business model. The strategy for penetrating the market is built primarily on the basis of the Uremont platform.
In the course of the study, we have identified the following competitors:
Carblox - A platform that enables car owners to find necessary services, buy or rent cars, etc.
Gluon - A platform that enables users to find car-care centers, carry out tuning, buy parts, etc., and also monitor the condition of the car
Summary: The main difference from competitors is the presence of an existing business, as well as providing wider range of services, blockchain and the ability to pay for services in cryptocurrency.
The platform will connect all representatives of the automotive industry.
- Car owners, insurance companies, banks, car service centers, spare parts distributors and many others will indicate services offered or required when registering on the platform;
- The platform will connect suppliers and consumers of goods and services, concluding smart contracts between them for the provision of services or purchase of equipment, analysts, etc. [White paper]
The platform is built on the basis of blockchain technology using smart contracts. [https://usrv.io/en-US/uservice.pdf]
Comments: A positive attribute in the construction of the platform is the already-functioning Uremont service, which will become the basis of Uservice. [White paper]
In the future, with the development of technology and data capacity it is planned to implement the following:
- 2018 - Implementation of blockchain technology, platform support
- 2019 - Introduction of new token, USX
Comments: The white paper does not disclose details of the technical component of the platform; the implemented functions are not described. According to a representative of the team, the technical component will be revealed after the start of the ICO (18/12/17).
The following modules are available in the open repository:
- TokenSale (uploaded on 12/9/2017).
Comments: The token sale module contains information on the project smart contract.
The website also provides information about the project, the staging of the public ICO, the distribution of tokens and raised funds, development strategies, partners, advisors and the team. The website is presented in English, Russian and Arabic. An additional feature of the website is the presence of instructions, personal account and a video about token purchase.
Summary: The documentation enables forming a comprehensive view of the project.
Tokens for sale, %: 60
Public ICO start date: December 18, 2017
Token type: ERC20
Accepted payment: ETH, BTC, LTC, DASH
UST price: 0.0005 ETH
Crowdsale duration: 6 weeks, until 01 February 2018
UST token will become the basis of the USERVICE ecosystem. A token holder will be able to use it to make all purchases and payments to partner companies within the platform.
Token limitation: 1,000,000,000
Advantages for token holders: utility tokens that may be used for purchase of services on the platform or may be sold.
Max goal: 300,000 ETH
Min goal: 3000 ETH
- 1st week - 20%;
- 2nd week - 10%;
- 3rd week - 5%.
Token sale is implemented in several stages:
- preliminary sale: 20.11.17 - 17.12.17
- token sale: 18.12.17 - 01.02.18
Comments: In 2019, it is planned to introduce a second token, USX, which can be purchased for UST tokens within the system. This token will be legalized using all necessary procedures as a security of Uservice. The distribution of tokens is planned for February 10, 2018. UST tokens will be sold / purchased on the main crypto exchanges.
Distribution scheme %% according to the program:
The program is active on the following platforms: Twitter; Facebook; Telegram; Medium; Reddit; Blog Articles & Videos; Signature / Avatar Bitcointalk; Translations.
Summary: The project has an extensive bounty program. All the conditions of the program are detailed in the link above. Remuneration will be paid to ETH wallets after the completion of the ICO.
Token and capital distribution
Tokens and capital are distributed according to the following scheme:
Summary: Tokens do not affect the distribution of shares in the company. The incentive system is set up in a way that it is more profitable to buy tokens earlier on in the token sale.
- Q4 2017 - Expanded initial market penetration. Preparing the infrastructure to launch operations in North America and Asia
- 2018 - Massive initial markets promotion (Asia, North America, Europe, the Middle East), system scaling, choice of partners for services in the US, China, UAE. [White paper]
Summary: The team has provided a strategy for scaling, but there is no description of the marketing campaign and methods to attract users in the white paper. The team responded that it is mainly focusing on the Uremont platform, which has already registered 100,000 service stations. In the future, the platform will unite participants in the water and air transport markets.
The team consists of 15 people and 8 advisors. Information about the executive team members who have LinkedIn contacts are as follows:
Arthur Terisayan (LinkedIn) - Founder of the Uservice and Uremont projects.
Denis Shelkov (LinkedIn) - President of Uremont.
Aleksandr Korotkov (LinkedIn) - CEO of Uremont.
Mstislav Semipyatnov (LinkedIn) - IT director of Uremont. CEO at Akruss
The team has 9 more people.
Summary: The available information on professional skills and experience is not enough to form a comprehensive view of the team. The team also has the following specialists: community managers, a lawyer and product manager. Regarding technical specialists, an IT director and one-slot team of 28 developers are represented.
The team includes well-known personalities and specialists:
Evgeni Malkin – A two-time world champion, central striker for the NHL club "Pittsburgh Penguins" and the Russian national team
Karen Movsisyan – Businessman, founder of "4 Seasons" company;
Batu Khasikov - Businessman, public figure, multiple world champion on kickboxing;
Kamil Gajiyev – President of the "Fight Nights" company, winner of World Cup jujitsu
Sangadzhi Tarbayev – Businessman, director of "My Way Productions", chairman of the Commission for Support of Youth Initiatives;
Denis Sergeev – Businessman, founder of the BESK company which has held 4 ICOs (Bankera and Exchange), and has developed its own product line in blockchain / hash-graph FinTech.
Marianna Sahakyan - Head of complex insurance of VIP clients of RESO.
Svetozar Semipyatnov - crypto enthusiast.
However, their role in the USERVICE project is not disclosed.
Information about the project is available on Twitter, Facebook, Telegram, Reddit, Instagram, Youtube and Medium. There is a bounty program.
The project is active on social media. Twitter, Facebook, Medium, Instagram are means of news updates of the project on daily basis. In addition, the team regularly uploads videos to YouTube.
Comments: The interest in the project is growing. The marketing campaign covers all available social media sources. [Website]
Analysis of the website traffic is based on Similarweb.com data shown below:
Comments: 48.07% - direct links, 18.04% - referrals, 20.48% - search.
Search traffic: 20.48%, 15.15% of which is "organic", 84.85% - ad clicks.
Referral links: 18.04%.
Comments: The popularity of the website is growing rapidly (70,000 people in the last month) as is the number of subscribers on social media, which indicates a high user interest and engagement in the project. Top 5 countries of the website visitors: Russia - 71.37%, the USA - 9.49%, Malaysia - 3.06%, Ukraine - 2.63%, Georgia - 1.8%.
Summary: According to the available data, it can be concluded that users are interested in the project. The team conducts an advertising campaign on social media, regularly uploads videos by team members and speakers on YouTube and actively communicates with users on social media. There are publications in the media. The project actively participates in various events and conferences. In addition, there is already a working product, Uremont, as the basis of the project, which has become a leader as an auto service aggregator in Easter Europe. [Similarweb]
The developers may be contacted using the links below:
2. White Paper
3. One Page
5. About Bounty
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.