Adel – The kickstarter for ICOs

Adel will soon launch a platform on which other ICOs can be launched. The platform itself will be a DAO backed by a global cryptocurrency which will be released during the ICO (Initial coin offering).

Travin Keith, marketing manager of Adel has explained to InvestItIn.com how this community will focus on creating, developing, and implementing use cases involving blockchain technology that covers a wide range of digital and physical industries.

Projects will be showcased on the Adel platform, the community will then choose which ventures it wants to endorse.

Travin Keith, has agreed to answer a number of questions from InvestItIn.com and he has done so in great detail. His answers contain several gems of information for all those interested in cryptos, investing in ICOs.

What problem is Adel trying to solve?

Adel is trying to solve the lack of a platform for blockchain projects that doesn’t just help with launching the project with funds, but also provides support and guidance throughout the whole life of a project. Adel also aims to actively engage its community members in the projects and can also connect the projects with VCs for further funding if necessary.

What is the scale of the problem from a financial perspective and from a market demand perspective?

What is the scale of the problem from a financial perspective and from a market demand perspective?

After the rapid rise and fall of the DAO, people are now looking for a stable and supportive platform to launch their projects. Other similar projects have since been started, but not one so far provides all the support necessary to bring the business to mainstream adoption – a common problem for blockchain and cryptocurrency projects. These highly innovative projects always struggle with legal issues such as globally diverse legislation and unclear regulatory requirements which have not yet adapted to the new trends, as well as a lack of influential business and expert contacts. Many projects often struggle, as they may seem unethical to the mainstream market. As projects that threaten monopolies in established markets run the risk of being trampled by large companies with seemingly endless financial and legal resources or lobbying influences, many innovative or disruptive ideas are disqualified from investment consideration. The expertise of the Adel Board and staff will be leveraged in order to help such projects and determine the best course of action. Adel, by providing support and guidance to the projects, plans to fill these needs to make sure that the projects not only reach mainstream adoption and become profitable, but also that the project business models are ethical and are developed along the lines of the Adel Philosophy.

We will be releasing more detailed information about this in our seventh white paper which will be published before the ICO begins.

Is Adel a decentralised organisation?

Yes, absolutely. While the Adel Board and staff will be providing guidance and support to the projects launched on Adel, major decisions, such as whether projects will receive funds or not, as well as whether profits will be reinvested into the projects or distributed as rewards to Adelphoi token holders, are decided with a vote by the community members. Moreover, if the majority of the community does not support the funding of a particular project, Adel allows it to continue on as a Group Project, which can be supported by as little as 5% of all the community voting weight, though funds will need to be raised by the minority group of supporters as it will not have access to community funds. Adel and its projects will also be as transparent as possible (depending on their unique business constraints), thus allowing for decentralised supervision and stimulating further collaboration within the community.

Is the structure governed through a smart contract?

The structure itself is not governed through a smart contract. However, templated smart contracts, known as Smart Transactions on the Nxt and, soon, Ardor blockchains, will be used for voting. In addition, a multi sig system will be used for the 3/3 escrow by the Adel Board for the release of funds based on the results of the community vote. The smart contract scenario that ruined The DAO will not be possible with Adel.

What is the total number of coins that will be issued in the ICO?

100,000,000 tokens, known as Adelphoi, will be released through three ICO rounds. 33,333,333 tokens will be distributed during each round.

Do you plan to issue more coins after the ICO?

More tokens will not be released after the third ICO round.

How many coins will management retain? What will be the purpose of the coins held by management?

Adel Services, representing all staff servicing the Adel ecosystem, including blockchain developers, management, cryptocurrency experts and marketing specialists, will retain 5,000,000 Adelphoi (15% of the 33,333,333 coins released in the first ICO round), as well as a maximum of 30% of the funds raised from each ICO round. These funds and coins will be used to compensate the Adel Board and staff, as well as supporters, and to pay for other necessary internal projects, including, but not limited to, marketing succeeding ICO rounds, and operational costs.

On your front page you explain that Adelphoi.io is self-regulated and self-sustained. Can you explain this more?




While the Adel Board and staff will provide guidance and support, major decisions are provided by the community. The role of the Adel Board and staff is not governmental and executive, but rather supportive and supervisory, making sure that Adel’s philosophy is followed. After the three rounds of ICO, a portion of the gains made from previously launched projects will be available for use in future projects. Essentially, the Adel ecosystem is created by its community members. While the R&D team will propose projects to the community, community members are also able to propose their own projects and become innovators, thus receiving 25% of the project’s rewards.

Could this project have been built with Bitcoin rather than a new cryptocurrency?

Given the need for decentralized weighted voting and other features, it would not be possible with Bitcoin alone. While it could have been built on the Bitcoin blockchain through the use of a side chain, it was deemed to be more ideal to use the Nxt blockchain, known as the first among blockchain 2.0 platforms, as well as the upcoming Ardor blockchain – a blockchain being created by Nxt’s core developers which will utilize Nxt technology and will allow projects owners to create their own blockchains, known as child chains, that are powered and secured by the main chain. With its templated smart contracts, known as smart transactions, and implemented with various features such as phased transactions, it was deemed to be a more secure choice for the ecosystem. The Adelphoi token will initially be an asset on the Nxt blockchain and will utilize the security and stability that the Nxt Blockchain has provided to various projects since 2013. One of the other features that Adel will utilize is the decentralized voting system for the polls that will be run for the community regarding major decisions. When suitable, Adel will move its operations to the Ardor platform, which is set to have its mainnet launched in Q3 this year.

Will the coin release profits as dividends? How will this be executed?

Adelphoi is not primarily an investment, but a token for participation within the Adel community. However, rewards can be released to Adelphoi token holders (called Adel Stakeholders) if community members decide so via a decentralized poll, and if the projects launched on Adel are successful. The Nxt API and future Ardor API will be utilized to distribute these rewards properly. A minimum amount of ADL will be required, however, in order to receive the rewards. Those who keep their ADL on an exchange instead of the ADL community portal will therefore have a diminished effective ADL balance for reward calculation.

You have one project “The Human ATM” in the pipeline. Can you briefly tell us what the pros and cons are of this project?

The P2P ATM project is not really in the pipeline as it hasn’t been approved by the community yet. However, it will be proposed by the R&D team to the community for voting after the first ICO round.

Pros:

  1. Effective user interface to make it easy to find others who are willing to dispense cash or crypto as well as those who need cash or crypto.
  2. Transaction records are stored on the blockchain for structural integrity.
  3. Tiered KYC/AML system similar to exchanges to reduce the difficulties of acquiring a small amount of crypto. This will be especially useful for those new to crypto since they are not likely to purchase a large amount at the start and might be discouraged by a lengthy KYC/AML verification process for a small transaction.
  4. Mainstream-friendly app and service. The app can also be used to acquire cash through the use of cards and bank transfers and will thus not be targeted just to the crypto market.

Cons:

  1. Some countries and regions may have restrictive laws that could prohibit the use of the app or make it so legally complicated that it is no longer profitable.
  2. Inaccessible to those without a smartphone.

Do you have other projects in the pipeline?

The R&D team will release a few more projects before the ICO that will be proposed to the community.

Would you like to compare yourself to other systems which offer quasi-similar functionalities?

The DAO and Wings would probably be the most similar system in the crypto community. Standard startup incubators would be the closest comparison with Adel in the mainstream market.

On what particular aspect do you perform better than them?

Compared with the, The DAO, Adel will have a more stable structure around it with guidance from the Adel Board, as well as support from the staff before projects are introduced to the community for voting through the Project Review Committee. This ensures that the projects which are proposed to the community don’t only stand to be profitable, but also adhere to the Adel Philosophy.

Adel shares a few similarities with Wings. However, unlike Wings, projects on Adel will not be limited to blockchain projects that support Ethereum Virtual Machine (EVM) functionality. While the Nxt and Ardor platforms will have the first right of refusal, if other blockchain solutions are needed for projects, then it will be possible to use other blockchain solutions. In addition, projects will be given advisory services by the Board and the staff after the projects are launched, as well as assistance with acquiring external funding from VCs if needed.

Compared with standard startup incubators, Adel will have a much greater community focus as projects will be voted on and funded by the community. Community members will also have the first right of refusal for participation in these projects. This means that a greater pool of expertise will be tapped into for the projects, as opposed to a few advisors from other startup incubators.

Who are the board members and support staff of Adel?
 
You can find the members of the Adel Board and Staff on our website. Here’s a link to the section where it is – https://www.adelphoi.io/#team
In which stage is the development of the platform?
 
We are still in the early stages, relatively speaking, of everything that we want to achieve. We have been working on the community portal for a few months now, however. Once we can give concrete announcements about this, we will.

What does it take to launch a powerful ICO?

It takes a well-coordinated and motivated team with a solid background both in the mainstream market in the area it plans to specialize in (if any), as well as the crypto community in general. The team also needs to be able to work well together by complementing the skills of other members. Basically, a team that can give ICO participants confidence that the project will deliver what it’s promised. It also takes a lot of time and dedication before the ICO itself is even announced.

As per all investment ideas on this site, this is not an endorsement of Adel. This interview is provided for your education about the cryptocurrency eco-system. You are encouraged to visit the Adel Platform, and discover more about this investment idea.

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