Today we shall be looking at the Envion ICO and what exactly they are offering to the table.
The best way to start as always is by taking a look at their white paper, so here is some important points from the introduction section:
When cryptomining was still in its infancy, it was well distributed among a couple of thousand private miners, governed by transparent rules and not harmful to the climate because its energy requirements were microscopic.
All that has changed: the exponential growth of cryptocurrencies has led to a dramatic increase in the sector’s energy consumption and a concentration of mining activities in countries with low social and environmental standards – where electricity is produced using predominantly fossil fuels.
Even worse, the concentration of mining power in the hands of a couple of large corporations is distorting the formerly democratic decision-making process in these networks: changes in protocols and hard forks are in danger of being influenced by the economic interests of a few.
So Envion intend to tackle the centralization issue of what was supposed to be a decentralized economic system, thats a good start, let’s continue:
Envion has developed a system of Mobile Mining Units (MMUs) that can tap electricity directly at the source: at hydro, solar, wind and fossil power plants in every corner of the planet.
As well as tackling the decentralization issue related to Crypto mining Envion appear to be tackling the energy consumption issue to a degree. These mobile units are designed to be easily transported and can be parked right next to a solar farm, wind farm and any other form of renewable energy source. In a time when cryptocurrency proof of work mining is coming under more and more scrutiny everyday for it’s mass energy consumption this could be a step in the right direction.
The flexibility of the MMU system helps us to fuse two of the most important sectors of the 21st century: blockchain technology and renewable energies. Using the dynamics of exponential growth for both, we promote climate preservation and the welfare of our token holders. It is the physical incarnation of the blockchain spirit: a robust and decentralized system that can withstand disruptions in government policies, price structures and the energy supply.
Well, so far so good. They’ve ticked all our boxes as far as a viable business plan goes.
So What About The ICO?
Envion are using Ethereums ERC-20 tokens for the initial coin offering. The tokens which have been labelled EVN Tokens grant their holders to the following:
- receive 100% of the earnings of our proprietary mining operation in two steps:
• 75% payed out immediately
• 25% reinvested to boost future payouts
- receive 35% of envion‘s earnings from mining by third-party operations.
- voting and veto in important decisions of the company’s strategy.
The offering will be up for 31 days starting on December 15th 2017 through to January 14th 2018.
Token Issue Volume max: 150 million
Token Price at Issue 1: USD
- 83% token holders
- 10% founder team
- 5% envion AG as reserve
- 2% bounty program
Accepted form of payment: BTC, ETH, credit cards
It it unusual for an ICO to accept Credit Card payments, due to the nature of ICO’s and the chargeback feature of credit cards I would suggest that this payment options existence in the ICO is a positive sign for the genuinity of what Envion are offering.
15.12 (12PM GMT) – 17.12 (11:59:59AM GMT) $0.70
17.12 (12PM GMT) – 21.12 (11:59:59AM GMT) $0.80
21.12 (12PM GMT) – 28.12 (11:59:59AM GMT) $0.90
28.12 (12PM GMT) – 14.01 (11:59:59PM GMT) $1.00
Use of the Proceeds raised by the ICO
91% Investment in Mobile Mining Units (MMUs)
9% Research & Development and Administration
There are of course the usual limitations to who can participate in the ICO, US Citizens may not participate. Though there is nothing to stop you from investing in the ICO using ETH on a VPN, just dont get caught!
Passive Income From Your Investment
A more popular incentive to participate in ICO’s these days is some kind of regular payout from the company’s future profits, a passive income. ENV token holders will receive regular payouts relative to their share of the total tokens in circulation, the payouts will be determined by the profits made from Envions MMU (Mobile Mining Units). They make no guarantees on the amounts you could expect to receive, but they do offer an example which in my opinion is a little over ambitious.
On their website they have a Token Dividend/Cashout calculator, we’ve set the investment to $5,000, below is the projected profits:
Year 1: $8,050
Year 2: $11,290
Year 3: $15,834
Year 4: $22,207
Year 5: $31,145
Total Profit: $88,526
This calculation is based on a 161% profit per year with a reinvestment strategy of 25%. If such a return could be generated then this would indeed be an extremely profitable investment. But, this is just an estimate with no guarantees so I personally wouldn’t take these values to seriously.
But regardless handing profits over to token holders is a great incentive for token holders to hold their tokens and also increase their value on the open market.
We will not advise whether you should invest in this or not, the product seems sound, the team seems sound and the business strategy is a good one – however nothing is guaranteed. Compared to the hundreds of ICO’s popping up left, right and centre this is by far one of the more promising looking ventures.
We will possibly be investing a small amount for review and progress reports purpose so will keep you posted to how this one turns out.
For more information in this project we highly recommend reading through their extremely comprehensive Whitepaper.
Update: This ICO has already received more than 41,831,077.45USD in funds, however there are still a few days left to invest.
Envion: ICO Invest
Disclaimer: Statements contained within this post do not represent the views or policies of anyone other than the writer. The information contained within this article is provided for discussion purposes only, and are not investing recommendations. Under no circumstances does this information represent a recommendation to buy or sell securities. Some of the links to the ICO investment page are using affiliate links which would entitle The Block Crypt to a small percentage of any amounts invested by those investing via such provided links.