Elrond Network Review: part 2 (by Midgard Research)TEAM & ADVISORSBeniamin Mincu (CEO) was a core team member in NEM (MarketCap ~$650,000,000) for 1.5 years. He is in the industry since 2014 invested and supported near 30 blockchain projects including Zilliqa, Matrix, ICON, etc.
Lucian Todea (COO) has enough experience working with more than 17 years in Soft32.com (Lucian is a Founder and CEO), an online software platform that facilitates the distribution and sales of apps for Windows, Mac, and Mobile. He is a technology executive with significant operational, business development, general management, leadership, and international experience.
Lucian Mincu (CIO) has solid experience as an infrastructure engineer. He is a co-founder at Metachain Capital (a digital asset investment fund focused on supporting some of the most ambitious teams and ingenious technologies in the blockchain space) and ICO Market Data (platform featuring the ICO tools). He has more than 8 years of experience, spanning from developing end-to-end startup products to designing and implementing highly technical yet comprehensive infrastructure and network solutions for large enterprise clients.
Felix Crisan (HEAD OF RESEARCH) – Felix has been in the cryptocurrency space since 2012, he is a Bitcoin Lightning contributor. Felix co-founded BTKO, Romania’s first Bitcoin exchange platform. Felix is currently the Co-founder and CTO of Netopia where he implemented market-leading solutions for online and mobile payments.
The team consists of 18 persons with enough experience to develop and deliver the product. The previous workplaces of the team include such companies: NEM, IBM, Microsoft, Intel, Google and much more. Overall, we have a good mix of Ph.D.`s and Ph.D. students from Lucian Blaga University with blockchain pioneers. Our experience tells that it is the best format since the team is strong in both research and industry biz dev fields.
The Advisory board consists of 7 highly-experienced specialists both in development and business fields. It’s worth to mention that Elrond has Fabio C. Canesin and Ethan Fast, from well-known Nash (NEX) project, as technical advisors.
Also, worth noticing notable figures such as Raul Jordan who is Co-Leading Prysmatic Labs, the first Sharding implementation for the Ethereum Protocol and Grigore Rosu who invented K framework a universal framework for language-independent machine executable semantics.
PARTNERSHIPSElrond Network has already announced a notable partnership with Nash (NEX). Elrond and Nash aim to jointly explore the potential integration of Elrond blockchain platform and Elrond tokens (ERD) into the Nash payment platform. It will allow Nash users to trade and acquire ERD tokens across different platforms. Additionally. Elrond and Nash aim to join efforts to further develop and research interoperability as one of the main connecting bridges for the ecosystem.
Elrond Network partnered with Netopia Payments, the biggest electronic payment processor in Romania. The main purpose of this partnership is to jointly explore the potential of integration Elrond’s blockchain and ERD tokens into the Netopia payment system. It will allow 6,000+ merchants who are using the Netopia solutions to be able to accept ERD cryptocurrency without any development or operational costs on their part.
Elrond Network is cooperating with Distributed Systems Research Laboratory for R&D in practical applicability of blockchain technology in the energy field and other use case scenarios.
The team promises to announce more solid partnerships in the nearest time.
TOKENOMICS AND TOKEN SALETotal amount of tokens: 20,000,000,000 ERD
Tokens for sale: 8,000,000,000 ERD (40%)
Total hardcap: $4,750,000
Private-seed round bonus in tokens: 30%
Amount of tokens for Private-seed round: 3,000,000,000 ERD (15%)
Private-seed round tokens have a release schedule of 10% at TGE, the rest of the amount will be vested by 3 equal tranches of 30% in 3,6 and 9 months after TGE
Private-seed round hardcap: $1,500,000
Amount of tokens for Public sale round: 5,000,000,000 ERD (25%)
Public sale round hardcap: $3,250,000
As per CryptoCallibur
There is no much info about the public sale metrics available due to the process of obtaining a license that will enable the company to issue the Elrond token, list on exchanges, and publicly raise funds through an ICO. But according to the stated above information, we can conclude that the tokenomics will be reasonable. The hardcap for the project is low and vesting structure for private-seed participants includes anti-dump mechanism.
Elrond token, ERD, is a utility token that will be used as:
-a unit of payment and settlement between participants in the Elrond Network
-a unit of staking to validate transactions by masternodes
VERDICT: 8.5 out of 10We definitely bet on Elrond to be one of the most interesting projects this season. The team despite not consisting of c-level executives from international corporations, has something that is much more important: “blockchain industry expertise”. These people are real, they work every day together in the office and they are doing it for a bigger amount of time than some of the already tradable projects that have not delivered anything despite raising millions. Elrond did not open any funding rounds until they had concept validated and tested which one and a half year of self-funded development. This has been said, we are excited for the future updates of Elrond, our rating will be reviewed closer to the mainnet launch and public sale.
Elrond’s official outlets:Elrond Community Platform:
https://community.elrond.comTwitter:
https://twitter.com/elrondnetworkOfficial website:
www.elrond.comElrond Github:
https://github.com/ElrondNetwork
