Product is not ready - development of the platform will begin in Q1 2018
04.12.2017 - 25.12.2017
Role of token:
The INS token is planned to be the only means of exchange for handling all types of rewards and one of the means of payment within the INS ecosystem. Also, there is an opportunity that INS tokens will be accepted as a payment method in partner services.
1 ETH = 300 INS tokens
Day 1; purchase less than 10 ETH - bonus 20%; 10-100 ETH - bonus 22,5%; >100ETH - bonus 25%
Days 2-7; <10 ETH - 15%; 10-100 ETH - 17,5%; >100 ETH - 20%
Week 2; <10 ETH - 5%; 10-100 ETH - 7,5%; >100 ETH - 10%
Bounty fund — 500 000 INS tokens; signing campaign at BitcoinTalk - 30%; articles, blogs, videos - 20%; Facebook and Twitter - 20%; translations - 15%; Telegram - 2%; other - 13%.
Token distribution date
eMarketer predicts that by 2018 size of global online retail market will be $2,5 trillion – 8,8% of total retail market. Volume of sales via the Internet will grow by more than 1,5 times compared to 2015 (CAGR 2015-2018 - 16.1%). According to Syndy’s report, 16% of customers in Europe order grocery via the Internet; in 2013, their share was 13%. It is also assumed that to the end of 2018 size of the European e-grocery market will be €80 million. Based on researches from the Institute of Grocery Distribution, BCG and McKinsey, following trends in the online grocery for the next few years can be highlighted: • Almost 50% of customers are ready to spend their time shopping online instead of visiting offline stores • Growing popularity of the click&collect service. Advantages of this service for customers - ability to pick up the order on the same day, at a convenient time, without additional costs of delivery and waiting for courier, who, mostly, arrives at a fixed time interval • Constantly growing number of orders from smartphones and tablets, when customers do shopping in online stores. In addition to orders, buyers would like to make a shopping list, be able to change the order, contact support and compare prices in other stores • Customers expect more personalized discounts and offers – to receive it they are ready to provide personal data and information about past purchases. Also, in case they provide information about past purchases, customers would like to have the option of express purchase (auto-fillment of payment and delivery forms).
The INS platform is a decentralized marketplace that allows manufacturers to join, publish their products for sale, carry out promotion and loyalty campaigns, and get feedback from consumers. It enables consumers to order those products and facilitates the order fulfillment process. INS roles include: • INS token creation and the token launch to fund development and expansion • Establishment of a decentralized, fair and secure model for order execution • Development of smart contracts to run the order payment and fulfillment process • Release of the customer website and app, fulfillment app for fulfillment center workers and couriers, and web interfaces for manufacturers and fulfillment center operators • Creation of an effective incentive model for all parties to join the INS ecosystem • Development of an active marketing campaigns to ignite initial traction • Elaboration of the ecosystem’s regulatory aspects.
Key members of INS’s team: • Peter Fedchenkov - founder; previous experience - investment banking analyst and investment manager in Credit Suisse, Goldman Sachs, Baring Vostok Capital Partners (more than 5 years in total), co-founder of Instamart. Graduated from MBA in Harvard Business School in 2014; • Dmitry Zhulin - founder; previous experience – consultant, associate and investment manager in PwC, Rothschild, VTB Capital (more than 7 years in total), co-founder of Instamart. Graduated with PG Diploma from University of London; • Dmitry Khovratovich - Blockchain/Smart Contract Lead; has more than 10 years of experience in segments of cryptography and data protection (University of Luxemburg, Microsoft, Evernym); PhD from the University of Luxemburg; • Pavel Yakshankin - CTO; more than 5 years engaged in development of products based on JS, C, RoR.
INS will become an intermediary between manufacturers, consumers and fulfillment operators. Manufacturer roles include: • Publish products; • Deliver products ordered by consumers to fulfillment centers; • Promote the INS ecosystem by bringing traffic via promotions of derived apps. Consumer roles include: • Search products listed by manufacturers, make orders and pay for them; • Participate in feedback requests; • Receive promotion, loyalty, referral and feedback rewards. Fulfillment center workers and couriers will: • Collect products delivered by manufacturers to fulfillment centers; • Assemble products into orders; • Pass assembled orders to couriers; • Pick up orders from fulfillment centers; • Deliver orders to consumers. INS will engage independent couriers and fulfillment center operators to join the ecosystem to ignite fast geographical expansion. In addition, it will decrease food miles, enabling consumers to unimpededly access local manufacturers, including farmers. INS will implement the effective "pull" system to reduce inventories and out-of-stocks that would decrease the food waste. INS is targeting to replace trade promotions with a more personalized, direct and efficient marketing, thus driving grocery prices down and facilitating the effective direct interaction between manufacturers and consumers.
50 million INS tokens can be generated, herewith, there is no token creation, minting or mining after the end of the ICO period. INS will create the INS Reserve Fund (20% of tokens) as the part of the token generation event with the primary goal to use these tokens as referral rewards to new customers and popularize the INS ecosystem. The Reserve Fund’s tokens distribution will start in 2019 and last for up to 2 years. INS team’s tokens are locked for 2 years with four 6-month vesting periods.