ICO Review: TomoCoin building the Internet of Value
TomoCoin’s native chain is called TomoChain and it will be used as a blockchain infrastructure for the Internet of Value. Moreover, the TomoCoin is the native currency within the decentralized Q&A social nework TomoApp.
The team’s vision is to be a network of chains that can support instant confirmations and near zero transaction fees. TomoChain will support horizontal scaling via adding more second layer blockchains with good performance integrated with Ethereum for backup and atomic cross-chain transfers.
The team’s ICO setup and vision are something in addition that puts attention to this project. First of all, half of the total token supply will be distributed to investors. Furthermore, the Tomo team is fully involved and dedicated to having a successful product with a long terms vision. They will have a vesting period of 4 years for the 15% (of total supply) tokens that will be distributed to team and advisors. This is another step in the right direction to show that long terms plans and successful implementation is on the forefront of the teams’ thoughts. Additionally, the remaining 35% of total token supply will be used as incentive to users and developers. These rewards will be based on relative contribution over an 8 year period, 4.5% per year.
Let us talk about some of the positives of this project. The team behind this project shows a strong understanding of the matter with expertise in technology and blockchain. Their advisors already have a proven ability to bring success within and outside of the blockchain technology sector. Tomo team managed to secure very important partners and investors which is an additional key to the future success of the project. Socially active with a large follower’s base and a very well planned and implemented ICO process, this project is looking at a bright future. Their long term 4 year plan and total amount of money needed for development built over the 4 year span is another factor to take into consideration when reviewing the project. They have a clear goal, timeline and fund distribution to make this a huge success.
On the other hand, we need to pay attention and track the accomplishments of the team according to the promised result in the roadmap, testnet and atomic cross chain transfer on testnet in Q4 2018. Currently, it is only a whitepaper project in a highly competitive market. Their mainnet is planned to launch in Q3 2018.
Overall, I will give a very good score to TomoChain as one of the few projects out there with a clear end goal in mind over a set period of time. I believe their success will come from the dedication of the team, clear and structured planning and community support which is outstanding at the moment.