Ethearnal ICO

Ethearnal ICO

Created using Figma
Created using Figma

Last Update

Feb 18, 2018

Ethearnal is peer-to-peer (P2P) freelance system, in which employers and freelancers meet, enter into trustless smart contracts with reputation and money in escrow, and take advantage of a decentralized system of moderators, if needed.
Risk: High
Sale
Jan, 2018
Mar, 2018
100% completed
$130 000
hard cap
cap
goal
0% cap completed
Goal 100.00 USD
Cap 15 000 000.00 USD
Hard cap 30 000 000.00 USD
past
  • 1 ERT
    =
    1 USD
Additional Details
Platform
Ethereum

About Ethearnal ICO

What is Ethearnal?

Ethearnal is peer-to-peer (P2P) freelance system, in which employers and freelancers meet, enter into trustless smart contracts with reputation and money in escrow, and take advantage of a decentralized system of moderators, if needed. We collide reputation and economic initiatives into one by tokenizing reputation and giving it value. Thus, all parties, moderators included, have strong and aligned initiatives to act honestly, since everyone has something of value at stake, as well as something to gain if the desired outcome is achieved.

Features

We are the first ICO 2.0, AKA #DAICO!

 

The token holders remain in control of the team spending!

 

Only 10% of the collected funds are released to us upon completion of the ICO. The other 90% and the founders’ tokens remain locked in the smart contract. We keep the community constantly updated on our progress, when we need more funds released we initiate a voting process.

Every token holder can vote proportionally to his tokens by sending a simple transaction to the smart contract, if we should get another round of funding. If 51% vote no, we don’t get anything and continue working until the token holders are satisfied enough to vote yes the next time we initiate a voting process. Our smart contracts are public and everyone with the skills can verify the above.

Every token holder can start a refund process!

 

At any time, anyone holding at least 1 ERT token can initiate a refund voting process by sending a transaction to our smart contract. If 65% of the tokens vote for a refund all remaining funds are refunded proportionally.

So, at any time, we are in possession of only 10% of the funding and if we stop delivering on our promises, you can get back the rest of your investment.

Everything we do is open source and easy to monitor. We already have minimum viable product developed with our own funding.

Dynamic hourly ICO cap.

 

During the first hour of our ICO, the smart contract accepts maximum of 1 ether per person. Every transaction above 1 ether will not be accepted. The second hour that cap is increased to 2 ether and so on every hour until the end of the ICO.

This makes it inefficient to have a huge gas fee to make your transaction go first and out place the smaller participants. And if for some reason your transaction didn’t get through you have a new chance every hour! That way, a whale must compete with thousands of regular participants every hour, leveling the playing field as much as possible (not bulletproof though), without an invasive and bureaucratic onboarding process.

Real token utility! Freelancers need ERT to get more work.

 

Freelancers are sorted by reputation by default. The more reputation you have, more likely to land more jobs, hence more money in your pocket.

Also they need to meet the employer requirement of minimum ERT at stake in order to enter into a smart contract with him.

 

Employers need the token to stake when hiring.

 

Since the employer must stake the same amount of reputation tokens as the freelancer, every employer needs them to hire reputable people.

You need them to earn as a moderator.

 

Moderators must stake tokens to solve disputes. Every moderator can more than double the staked tokens for each dispute he solves successfully. People that want to work as moderators will buy tokens to start their career.

The system buys ERT on the free market!

 

When a contract has finished without the need of arbitrage, the system uses 1% of the contract worth to buy ERT tokens on the free market to reward the employer and freelancer with 0.5% each. That way, they receive reputation proportional to the contract value, creating demand for the token and indirectly benefiting the token holders by appreciating its value.

You earn ether just for holding them!

 

When the contract completes via a dispute, no new reputation is bought. The already staked one by all participants is re-distributed in a clever way using game theory principles.

In this case, the 1% deducted from the contract value is distributed among all token holders proportionally in ether directly! You earn ether just for holding tokens.

The token must have value for the whole system to work. That’s why it’s only fair if we reward the people that help support that value.

 

Technical Info

Minimum Viable Product

We are building BitTorrent like web app, that can be run from every major browser. It doesn’t need central server, doesn’t need TRUST in central authority or any party involved and is fast and easy to use.

Some technologies we use are: Kademlia DHT, Ethereum smart contracts, Inter Planetary File System (IPFS), Python, SQLite, CherryPy, OpenAI, WebCRT

We actually have a product that you can see right now and follow our further development.


http://london.ethearnal.com:4567/ui/
https://github.com/ethearnal/

Ethearnal ICO Roadmap

  • Ongoing

  • Mar 2017 - Tinkering with the Idea

    May 2017 - Research into Game Theory.

    Jun 2017 - Research into Economic Initiatives.

    Jul 2017 - Layout
  • 2017

  • Mar 2017 - Tinkering with the Idea
    May 2017 - Research into Game Theory.
    Jun 2017 - Research into Economic Initiatives.
    Jul 2017 - Layout of the concept.
    Aug 2017 - Planning the Minimum Viable Product functionality (MVP).
    Sep 2017 - Starting Development of Proof of Concept (PoC) technology stack.
    Oct 2017 - Starting Development of P2P Protocol with Kademlia style DHT.
    Nov 2017 - Starting development of Web Browser UI ( p2p node client).
    Dec 2017 - Alpha Release of MVP PoC
  • Post ICO

  • Feb 2018 - Ethearnal Initial Coin Offering (ERT ICO)

    Feb/Mar 2018 - Integrate Ethereum smart contracts as DAO platform for freelancers and
  • Q1 2018

  • Feb/Mar 2018 - Integrate Ethereum smart contracts as DAO platform for freelancers and business.
    Mar 2018 - Integrate IPFS to add another layer of data persistence and availability.
  • Read More
  • The Bright Future

  • OpenAI in the search engine and the Ethearnal Personal Assistant Bot.

    Reddit ads on all subreddits for getting jobs for crypto. This is th
  • Q2 2018

  • Apr/May 2018 - Develop own decentralized system for moderating and curating records.
    May 2018 - Start building strong open source community contributions.
    Jun 2018 - Release production network and software.
  • Q3 - Q4 2018

  • Q3-Q4 2018 - Iterate over continuous integration of new features and bug fixes.
    Q3 2018 - Start development of mobile platform.
    Q4 2018 - Release application for iOS & Android.
  • 2019

  • Reddit ads on all subreddits for getting jobs for crypto. This is the smallest reach, but most targeted auditory.
    Facebook ads targeting only people in crypto-related and freelance-related Facebook groups at the same time.
    Linkedin campaign targeting anyone who is involved in crypto and has skill set in demand on the network.

Activity

Activity:
90
LOW
Posts:
670
HIGH
Views:
4 424
MEDIUM
Activity:
90
LOW
Merit:
10
LOW
Posts:
3 298
VERY HIGH
Views:
25 175
VERY HIGH
Users:
759
VERY HIGH
Followers:
6 689
HIGH
Tweets:
103
MEDIUM
30 Days Growth:
-45

Ethearnal ICO Team

Verified 14%

Attention. There is a risk that unverified members are not actually members of the team

STANISLAV UZUNCHEV
Co-Founder, Marketing
verified
VLADIMIR VLADIMIROV
Co-Founder, Marketing
unverified
DOBRI STOILOV
Senior Back-end Developer
unverified

2 ICO

$967 315

ROMAN STORM
Smart Contracts Developer
unverified
PAULIUS KASIUBA
Front-end Developer
unverified
RAMI SPASOV
PR
unverified
RADIMIRA YORDANOVA
Creative Designer
unverified

Ethearnal ICO Interviews

STANISLAV UZUNCHEV
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
Co-Founder. Freelancing for years, and serving over 100,000 orders I know all the problems and together with my team we aim to disrupt the industry using blockchain :)

Ethearnal ICO Last News

3.43
risky+
5.0 7
ICO Profile Vision Activity Potential Product Team
icorating
stable
icobazaar
3.7
3.1
icomarks
7.0

Ethearnal ICO Reviews

thetechinsider.org
reviews

Summary

Mainly, Ethearnal is a good ICO that plans to disrupt the freelance industry. However, we’ll have to see how it expands itself as a platform and a network before we see any noticeable differences. Still, it has a great idea, and we can’t wait to see how it will unfold in the years to come.

Positives
Affordable: Ethearnal has the lowest rates in the world with 0-1% fee per transaction. This gives the developers zero profit as a result.
Trustless: Each of the agreements are made in Ethereum smart contracts where everything must be adhered to.
Decentralized Moderation: Ethearnal has a large pool of moderators that are incentivized to act honestly.

Negatives
Limited Whitepaper: Users were not fond of its Whitepaper because it showed no form of financial explanation.
Questioned Legality: While it’s accessible in Hong Kong, we don’t know if this ICO will be accepted in countries in Europe or the US.

Read More
expert-coin.com
News, reviews

The project lacks financial projections, it’s almost impossible to evaluate its potential after ICO. There is no competitive analysis either, but the market is saturated and the strategy of “standing out from the crowd” is required. The team also needs strengthening.

The product targets the market with stable growth trends - the demand for new ways of organizing working processes will spread. The project gained strong coverage in relevant media.

Read More
icocrunch.io
review

The freelance is getting more and more popularity every day and that is a worldwide tendency. Yet the participants of this area make many common problems repetitively.
In case Ethearnal will accomplish its proclaimed goals that can be a project that worth attention and investments. At the moment, there is no confidence in its success.

Read More
bitcoinexchangeguide.com
reviews

Ethearnal is a freelancing platform that aims to disrupt today’s freelancing ecosystem. Today, millions of people work as freelancers worldwide. The US workforce is estimated to consist of 35% freelancers. However, these freelancers lack a good, modern solution for connecting to clients. Today’s freelancing platforms charge fees of 10% to 30%. They also have centralized dispute resolution mechanisms – many of which favor the buyer over the seller.

That’s where Ethearnal sees an opportunity. Ethearnal uses Ethereum smart contracts and Ethearnal Reputation Tokens (ERT) to create a safe ecosystem for freelancers and clients. The platform has a built-in dispute resolution mechanism where moderators are incentivized to side with the majority.

Read More
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