On ICOs This Week we review Squeezer, a platform for blockchain development of apps, AI Crypto, an artificial intelligence ecosystem powered by blockchain and GigTricks, a blockchain-based marketplace for freelancers.
Squeezer (SQZR): Platform For Software Development
Squeezer (SQZR) is a fresh idea which will enable developers to work together on new apps through a blockchain-connector offered by the platform. The software will enable developers to connect to multiple blockchains, while also allowing them to test the developed applications within the network. This should ensure a speedier production deployment process.
Currently, developers need to download all blocks onto a machine’s local storage unit, which decreases the velocity. Squeezer proposes to utilize Microservices, a system whereby software is built in smaller loosely coupled segments, rather than one large block, making it possible for multiple teams to work on separate segments at the same time. Companies such as Netflix, Uber and Groupon are currently using this type of architecture. Squeezer applications will be powered by microservices platforms such as AWS Lambda and Google Functions, which means that the auto-scalability feature is enabled by default.
Token economics: the presale will start on May 14th and last until May 31st with a 20% bonus. The SQZR token will cost $0.20 USD, with a Soft Cap of 3,850,000 SQZR and a Hard Cap of 154,000,000 SQZR. The target for the presale stage is 50,050,000 SQZR. The main sale will take place on June 1st and last for one month. There will be tier bonuses available throughout this sale, ranging from 0-10%. The overall target is 103,950,000 SQZR. The Tokens are based on the Ethereum ERC20 platform and will be delivered 10 days after the sale ends. All unsold tokens will be burned. The total tokens supply is 385,000,000 SQZR.
Token distribution will be 40% in the sale itself, with the platform receiving 34%, the team 20%, advisors 5% and bounty 1%. From the token proceeds, 45% will be used for technical development, 30% for non-technical staff with the rest being distributed among marketing, infrastructure and other operating expenses.
AI Crypto (AIC): Artificial Intelligence And Blockchain
AI Crypto is an ecosystem that will offer a global shelter to make artificial intelligence (AI) a property of humanity. The project will enable individuals to provide the resources of their idle computing power to create data needed for AI research, for this, they will be rewarded. AI Crypto is against ASIC or hardware mining, instead, they propose a fresh idea similar to GPU mining, with remaining resources used to support the AI ecosystem.
AI Crypto proposes to reward its members for creating values gained through just use of resources. Their mission is to revolutionize the AI Ecosystem using blockchain technology without the need for hardware mining. The project seeks to take advantage of unused GPU hardware resources while providing and acquiring data for training models for AI algorithms. The system will allow people to offer certain algorithms or models while others will pay for their use.
Token economics: The pre-ICO will begin on May 9th and will last until May 23rd. This is divided into two stages, the first will have a 20% bonus and will go to the first 1,000,000,000 AIC tokens. The second will have a 10% bonus for the same amount of AIC tokens. The presale has a Soft Cap equivalent to 20,000 ETH. Each ETH equating to 100,000 AIC. The main sale will take place from May 30th until June 30th. The total supply of AIC coins is 10 billion with the Hard Cap for the initial funding limited to the equivalent of 50,000 ETH. 50% of the coins will be distributed for the main sale and the rest among presale and bonuses.
Advisors, partners and the company itself will retain about 20% of the coins, with 30% spread among early investors, team, marketing and operations. As for the proceeds allocation, 42% will go for development of the app, 25% for operating expenses, 14% for marketing and accounting and the rest for business expenses and a reserve fund. There could be additional coins issued, but this would depend on the number of retired coins after ICO.
GigTricks (GBTC): A Blockchain Inspired Freelance Ecosystem
GigTricks is seeking to create a marketplace that connects entrepreneurs with freelancers on a global scale. This blockchain inspired innovation plans to use the GBTC Token for this purpose. The project intends to showcase the professional profiles of a diverse range of experts, verified under the GigTricks blockchain platform, with their skills rated.
GigTricks will also offer a learning mechanism for freelancers to acquire better ratings and a place to offer their skills to a wider range of contractors. The platform will also have a social space for interaction amongst participants, allowing people to follow each other, message and share information. Finally, GigTricks will offer a Point of Sale (PoS) to provide sellers with a payment flexibility.
Through blockchain technology, GigTricks will implement distributive permanent ledgers that are immutable and transparent. These will offer better security for the data shared through the platform. Additionally, fees would drop from 20% when using regular fiat to 0.25%, making it a lot more profitable for freelancers and contractors. The use of smart contracts will be part of the infrastructure, giving guarantees to both parties. Currently, a private sale is happening with a 75% discount almost reached.
Token economics: there is a maximum GBTC token supply of 1 billion. The platform is Ethereum ERC20 and 1 GBTC will be equivalent to 0.124 USD during the pre-ICO. During the ICO the price will go up to 0.248 USD. The minimum investment is set at 100 USD with Ethereum (ETH) and Bitcoin (BTC) accepted. Bonuses will vary depending on when you purchase, ranging from 0-75%. The Soft Cap is $5 million and the Hard Cap is $50 million. The pre-ICO starts on June 1st and will last for a month, with the main sale beginning on July 1st and lasting 2 months.
Allocation is distributed as it follows, with 20% for ecosystem incentive and only 35% for the actual sale (including presale, pre-ICO and ICO). Usually this means bounties, but they have not specified this as an incentive to users. As for the use of proceeds, the majority will go into development and operational expenses.