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Author Topic: [ANN] Allowance Network: Decentralized allowance for everyone  (Read 1113 times)
joedjawadi
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July 02, 2017, 07:08:19 AM
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Allowance Network: Meet the next generation allowance network

We are happy to announce the launch of the new Allowance Network which helps people to get, use and manage their allowances in better way. When we say allowances, we mean salary allowances (for tax saving), perks, gifts from employers and gift coupons from other people (on holidays, specials days like birthday, anniversaries etc..). Currently, problem is your allowances or coupons is non-transferable. You can use one type allowance at another place. Like - you cannot use meal vouchers to shop at e-commerce site.

We are trying to solve that problem by introducing Colored Allowance Token (CAT) - new crypto tokens. Each allowance type will have different color. Example: Food related vouchers will have red color and health allowance will be represented as white color. You can spend specific type of allowance at specific merchant. But you can change color using Allowance Network, so you can now have interchangeable allowances.

CAT tokens cannot be traded on public exchanges. It will be considered as Internal tokens to drive Allowance Token. It's value will be decided by Allowance Network Governance System.

Allowance Token (ALW)

Allowance Network will be governed by people who invested in it. To make this transparent and decentralized we have introduced tradable crypto ERC20 tokens on Ethereum - called Allowance Tokens (ALW). Allowance Tokens will be color-less and can be traded on public exchange. People holding ALW tokens will have rights to vote and propose on Allowance Network and will receive share of profit Smiley. You can check our medium blog post to know more: https://medium.com/@AllowanceHQ

This is how it works: https://allowance.network/images/how-it-works.png

Business Model

When you change color or transfer your Colored Allowance Tokens, Allowance Token will take small fees decided by ALW holders. Profit collected from Allowance Network will be divided by ALW holders based on their stakes.

Acquiring customers and products

We have decided few strategies to acquire customers and merchants. Main problem is to get merchants on the board. It's chicken-egg problem. Merchants need more customers to start accepting tokens as payment and customers need more merchants to start accepting allowance in Colored Allowance Tokens.

So we have decided to take unique approach to this problem by launching payment card (Visa or Mastercard) with prepaid allowances. People will be able to check their balances, change colors (allowance types) and spend it from Allowance Network mobile app. As it will work as normal credit card, merchants will have no issue on accepting it.

Will be payment card virtual or physical? We are working on the idea and solution. It will be first virtual. We might launch physical card if we get good response on this approach.
 
Crowdsale

Total: 500M ALW tokens will be created while crowd sale period and no tokens will be created after that.
Rate will be: 1 ETH = 10000 ALW tokens. (We are thinking to reducing to 1000 ALW only - in that case total tokens would be 50M)
Distribution: 10% of total ALW tokens will be reserved to Allowance Network for future use and stability of the network and remaining 90% will be available during crowd sale.

We have planned our ICO on 5th July - block starting 3980794.

Site: https://allowance.network
Slack: https://allowance-network.herokuapp.com
Crowdsale: https://allowance.network/crowdsale.html
Blog: https://medium.com/@AllowanceHQ

Let me know what you guys think.

Thanks,
Joe
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P E K K A
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July 02, 2017, 07:10:57 AM
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Reserve indonesian translation

G.Butrik
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HQ English ➜ Russian Translatoin


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July 02, 2017, 07:15:02 AM
 #3

I can translate on Russian, if you need Smiley
Answer here or PM me pls.

adarwis
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July 02, 2017, 07:22:06 AM
 #4

1 ETH = 10000 ALW
TOTAL SUPLAY = 500 MILLION
PREMINE = 10%
When viewed from the price of this tokens is a good coin
But a 10% premine may be too much if given its total supply of 500 million. For the time being it may be too early to conclude that the project is good or ugly, as it all depends on the developer of this project. Because it is the most decisive on the success or failure of a project

Mgrover
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July 02, 2017, 11:52:56 AM
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what you will do with such a huge premine
joedjawadi
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July 02, 2017, 12:20:28 PM
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On that we needed some inputs. Thanks for response. We will revisit rate and premine. How do you decided on rate and premine?
killerjoegreece
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July 02, 2017, 01:40:45 PM
 #7

Will there be a total minimum investment that will be required for the project to launch? And will you be using an escrow?

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July 02, 2017, 03:19:11 PM
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Total: 500M ALW tokens will be created while crowd sale period and no tokens will be created after that.
Rate will be: 1 ETH = 10000 ALW tokens.

You want to raise 50,000 ETH,  then you should bring us a great roadmap you project right?

CINDICATOR.COM12 September 2017 Token Sale
WP
germanybtc
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July 02, 2017, 06:54:58 PM
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Reserve indonesian translation

u spammer

joedjawadi
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July 04, 2017, 05:33:30 PM
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Our product roadmap: https://medium.com/@AllowanceHQ/allowance-network-product-roadmap-43ac229009e1

This is on-going post and I will update our progress.
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