Today’s Sponsored ICO is Elysian, a decentralized platform to build E-commerce websites.
Elysian is a decentralized platform to build E-commerce websites on the blockchain. E-commerce is a market that continues to grow steadily, with over a $2 trillion market it is expected to reach double that amount by 2021. Although the market seems to be thriving at the moment, the experience could be greatly improved by introducing blockchain technology; allowing for further and faster expansion. With the massive growth cryptocurrencies have also shown in the last few years, it’s only a matter of time before they become mainstream and are used in daily operations around the globe.
Mainstream adoption is one of the most important factors to ensure the future of the crypto industry, which is exactly where Elysian comes in, to provide customers with the freedom to utilize their cryptocurrencies however they choose. The project plans to implement Artificial Intelligence to provide a better user experience by simplifying website navigation, remembering previously viewed items and providing a renewed feeling of interpersonal interaction and product customization. Additionally, the team plans to introduce virtual reality to the platform, to provide a high level of in-store experience to users, making the shopping experience a lot more entertaining.
As for the platform itself, clients will be able to use it for their own businesses, providing faster delivery, secure customer data storage and identity theft protection. The project seeks to offer a great level of security in the e-commerce industry, by introducing the use of smart contracts and storing the customer data on the blockchain; which will generate a level of trust in the business-to-consumer model that doesn’t currently exist. As for the token system, the Elysian token (ELY) will work as the primary method of access to transactions on the platform, and can be kept in a private wallet and used for transactions, avoiding the use of credit cards or high fees associated with Bitcoin for example.
Elysian is well ranked among various ICO review websites. The team seems young and energetic and they already have a few great advisors lined up.
Token economics: Elysian held a private sale from April 16th until June 3rd, where they were able to raise $1.6 million. As of right now, the team is holding what they call the Pre Token Generation Event or Pre-TGE, which is similar to a Pre-ICO. The Pre-TGE will run from June 4th until June 17th, with a price per ELY token of $0.08 and with a Hardcap of $2.4 million. Elysian will then divide the main sale into 3 phases, with the first one running from June 18th to June 24th with a price of $0.08 per token, the second from June 25th to July 1st with a price of $0.10 per token and the last from July 2nd to July 8th with a price per token of $0.12. The Hardcap of the mainsale is set at $15 million. Overall, the project has a Softcap of $3 million and a Hardcap of $19 million. The payment method is Ether. Residents from the US, Canada, North Korea, Iran and China are restricted in participating. Keep in mind that a Know Your Customer registration is mandatory.
From the 1 billion ELY tokens issued, only 230 million will be used for the Token Generation Event and any unsold tokens will be burned. As for the token distribution, 23% will go to the Private Sale, Pre-TGE and TGE; 30% will be held by Elysian, 35% will go into their growth pool (to fund community campaigns to improve the project), 10% for the team and 2% for referral programs and bounties. As for the Funds Distribution, 40% will go into development, 30% for marketing, 20% for a reserve fund and the rest among partnerships and legal fees.
If you wish to read more, make sure you visit https://elycoin.io/ today.