Dorado (DOR) ICO Review – ICO Token News
Today, there are multiple ICOs launched in the market with different proposals and many have the potential to bring a promising future in the realm of blockchain services. In these advanced proposals, there is one project that works on integrating this advanced technology into robotics. The Dorado platform is launching its ICO with this unique proposal.
Dorado is a commercial food delivery platform which is already running in six countries, with huge sales of USD50+ million, 1 million active users, 4+ million orders with an outstanding growth of 6227% in the last 3 years. Now, this company wants to go beyond food delivery work and plans to implement an innovative way to accomplish every customer request related to the ordering and delivery of goods.
By developing an advanced HyperLocal Logistics platform, thiq company wants to revolutionize the way of moving goods around the cities by allowing customers to have anything delivered on demand. The platform is powered by blockchain technology and helps in connecting customers with drones, robots, and local couriers who will play a key role in delivering things swiftly from any store or restaurant.
All about Dorado
It is an MVP-based commercially available food delivery platform i.e. foodoutgroup.com. Since, the inception of Foodout, an MVP of Dorado, the company has worked hard to transform the old way of ordering/delivering. They want to bring something better than Uber or last mile deliveries by changing the methods of delivering goods on customer requests from anywhere.
According to the company, manpower or vehicle are not the only options to complete delivery demands in cities. They are trying to use revolutionary staff such as robots, drones, and artificial intelligence deliver orders – which is almost beyond imagination. By utilizing blockchain technology, they want to re-invent the ordering system while eliminating business efficiencies caused by human errors.
With the help of in-depth research, proprietary expertise, and big data, they are striving to develop a tool that will change the way of choosing, ordering, and delivering goods. Today, we live in a high-tech world where every service can be accessed through apps and messengers, but the delivery industry is has been slow adopt these innovative changes. Therefore, Dorado is moving forward with the mission of transforming the delivery industry.
What is the Dorado business model?
The Dorado contains a highly profitable business model that combines a mixture of a system functioning by commission per transaction fee and a platform with advertising services and listing.
Business commission fee
- The platform charge 20% to 30% of commission to the businesses to provide delivery service on every order.
- For example, if anyone orders food for USD30, the restaurant will make that order and the platform will provide delivery services for it. The restaurant will receive 70% of the total bill and the platform will take a 30% commission. In this way, both parties enjoy the profits.
Delivery fee paid by the customer
- The platform will charge USD2 to USD5 to the customer as a delivery fee.
- These low charge fees not only encourage people to order but also generate good revenue for the platform.
- Similar to Google Search Adwords, the platform will charge businesses to be listed on the top 3 results pages that customers will see while searching.
- For example, if any food store wants to enhance its visibility and improve their sales, then they can easily get a top listing on the platform by paying an extra fee for it.
Premium advertising services
- The platform also provides the benefit of additional promotion with its marketing channel and charges a fee for it.
- To get more exposure, businesses can choose one or more mediums of advertising such as social media posts, banners, promotion emails, etc. which are provided by the platform.
Third-party ad services
- Foodout receives revenue from additional third-party ad services such as Google AdSense.
What problems is Dorado resolving?
Customers are facing major issues that include:
- Frustrating phone calls.
- Messed up orders.
- No order tracking.
- Pharmacies, grocery, and other stores not providing delivery services.
- Long wait times.
- Long, complicated processes for ordering.
Businesses also face some major difficulties that include:
- Lack of expertise in IT, apps, logistics, e-commerce, and marketing.
- Small marketing budgets.
- Capital constraints/unaffordable big investment for expertise and technology.
Solutions offered by Dorado
Dorado brings efficient solutions for customers and business to resolve all above issues including:
- Provide a convenient and expanded selection process.
- Efficient delivery system.
- Simple tracking.
- Quick and easy way for ordering.
- Simple and hassle-free process.
- Exclusive range of business stores for customer selection.
- Wide customer reach.
- Allows the generation of more sales at low cost.
- Provides useful customer data.
The online ordering system is attracting huge popularity due to its simple and hassle-free way of ordering through online websites or smartphones. This seamless process eliminates all stress and resolves most of the customer problems. Customers can comfortably place the order from anywhere, without imposing on anyone else’s time.
The platform also offers a new way of generating revenue for businesses by providing on-demand delivery services. With this platform, a business can reach more potential customers and make good profits, without investing a huge amount of money. Businesses need to pay only when they receive an order from a customer. This whole process will prove to be a win-to-win situation for all parties including customers, platform, and businesses.
Today, 90% of business companies are struggling due to low expertise and inefficiency in relation to IT, AI Chatbots, logistics, marketing and e-commerce. Dorado is entering the industry to provide a solution for businesses.
DOR token and its uses
The DOR token works as fuel for Dorado. The ICO countdown has already begun for this token. This token is playing a vital role in accomplishing the platform’s objective of improving an on-demand delivery space and resolves other issues faced by the clients, couriers, and businesses on daily basis. The uses of the token include:
- For payment (clients, businesses and couriers): These tokens are used to access exclusive discounts and premium available on the platform. Businesses can use DOR tokens for paying for ads. Couriers will receive bonuses in the form of tokens.
- As stake (clients, businesses and couriers ): The DOR tokens can be staked to enjoy the benefits of advanced feature functions of the platform that are accessible only with DOR tokens.
- As a reward (clients and couriers): The DOR token is given as a reward to those who contribute and bring more candidates onto the platform.
What is the Swiss-based token model?
This is a visionary token, with a long-term purpose. If you hold it for a long time then it will provide you with great possibilities in the future. Features of the token model include the following:
Quarterly payout bonuses
- The platform offers a quarterly commission bonus to its active token holders within the ecosystem, of 7% net sales.
- The tokens are issued by a Swiss-based company.
Demand of the token
The DOR token demand is based on the platform’s growth and network effects.
It is directly correlated to the platform growth.
DOR utility token
- The token is ERC20 compliant.
- This will be listed on some of the exchanges for those who are not able to buy them during the token sale.
Why is Dorado using blockchain and smart contracts?
According to the company, the utilization of blockchain technology with a smart contract will work as a key element to providing long-term delivery benefits to the industry. The evolution of the DOR token is the first step in introducing incentives and rewards onto the platform. The company believes that if the payment system gets tokenized, then the process of driving the token movement can be easily displayed by using smart contracts. The smart contract will make all transactions and payments secure and transparent on the platform.
Benefits of using blockchain on the platform
This will bring outstanding benefits to enhance the platform feature and help in finding:
- Identity of businesses, users, and couriers.
- Reviews and rating by clients of businesses.
- Reviews and rating by clients of couriers.
- Easy way of tracking orders
- Know Your Customer.
Why participate in Dorado’s ICO?
Like other ICOs like BunnyToken, Seal, Streamity, Upline, DenCity, BitRewards, COTI, StealthGrid, etc. Dorado has launched its ICO sale for the expansion of its project. There are a number of reasons why this ICO could be beneficial for the investors, such as:
Innovation in its DNA
- The company has come up with an innovative idea of providing an easy and convenient way to order and deliver with the help of drones, AI, robots and a network of “uber” as human couriers.
Experienced team with good track record
- The project is supported by a talented team with an excellent record of successful expansion and internationalization. ICO planning guide highlights the importance of a good team backing each crypto project
- The team has effectively accomplished its target due to the group development of innovative products, technology, excellent business execution, and outstanding tested marketing strategies.
Team tokens will be locked for three years
- The company is working on its long-term goal of building a global decentralized delivery leader.
- To prove this, they will lock the team’s token for 3 years (crowd sale tokens will not be locked only team members).
- They have already received huge success with their Foodout group, but now the company will implement innovative technologies and an experienced, skilled team to overcome any kind of issues.
Concrete development plans
- The company has concrete plan to launch their project in 24 countries in the next 5 years.
- The plan is focused on holding the top and most promising markets.
- The token demand will automatically upsurge with the increasing growth of the user community and its use on the platform. ICO Ratings are also crucial as investors will get an overview and will be able to know about the best ICOs to invest.
- There will be 5 utilities designed for the token and each utility will focus on creating activity and reflect network effects on the platform.
ICO timeline and bonuses
- February 7 to February 21 : 33% bonus.
- February 21 to March 7 : 30% bonus.
- March 7 to March 21 : 27% bonus.
- March 21 to April 4 : 22% bonus.
- April 4 to April 18 : 17 % bonus.
- April 18 to May 2 : 12% bonus.
- May 2 to May 16 : 7% bonus.
- Maximum token supply : 510,000,0000.
- Accepted currency : Ether, BTC, Litecoin and credit cards.
- Token cost during ICO : 1 DOR = 0.00015 ETH or 1 ETH = 6667 DOR.
- Soft cap : 3450 ETH.
- Hard cap : 76500 ETH.
Use of funds
- Expansion and business development : 50%
- Marketing, events and PR : 20%
- Research and development : 15%
- Technology and logistics : 15%
- Token holders (not Locked) : 51%
- Team (3 year lock) : 15%
- Foodout group (3 years lock) : 8%
- Goldfish fund and early investors : 8%
- Advisors : 7%
- Legal counsel : 5%
- Strategic partnerships and mergers : 4%
- Bounty program : 2%
The team behind Dorado
- Jonas Karosas, CEO, Co-Founder.
Dorado wants to lead the future by introducing the first platform that makes placing an order and receiving delivers easy and convenient for customers by utilizing artificial Intelligence, drones, robotics and chatbots.
With its advanced HyperLocal Logistics platform based on blockchain technology, the company wants to connect the customers and allow them to order anything from any store and restaurants and get it delivered within few minutes.
To make this possible they are using robots, local messenger, drones and AI technology. The platform will comprise thousands of stores so that customers can easily find and sort the best one in their area. Whether you want medication, food, groceries, or anything else, everything is available on your device and you can easily order it in one click.
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- Xiaochen Zhang(President of Blockchain Frontier Group) - iaochen leads the implementation of FinTech4Good and Blockchain Frontier Group’s strategy which aims to introduce cutting edge fintech and blockchain solutions to emerging markets through incubation, acceleration and investment.
- Tomas Martunas(Chairman of Foodout Group. Managing Partner of Goldfishfund) - Experienced early stage investor. Spectacular entrepreneurial & operational experience. Director of various departments at Swedbank. CEO, App Camp – No.1 App development company in the Baltics.
- Vladimir Kholyaznikov(Co-Founder and CEO of KupiVIP) - Entrepreneur, Investor & Strategy consultant. Co-Founder and CEO of one the biggest Russia’s e-commerce players KupiVIP.ru (250M USD annual turnover).
- Ignas Mangevicius(Adviser) - Adviser, Blockchain expert, Co-Founder of Edgeless (+200M USD market cap), which had one of the first and most successful ICOs. Ignas is an early investor into Dorado and is advising Dorado in all ICO and blockchain activities.
- Volodymyr Kryvko(Managing Partner at CIG & Board Member) - Member of the Board of Directors at companies such as Kray Technologies, DOC.ua, Foodout Group, Zakaz.ua, Kidoz, and Softcube. Prior to joining CIG, Volodymyr headed the Board of Directors of the Independent Insurance Company, and also managed the Pravex Bank.
- Jonas Karosas(Co-Founder / CEO) - +8 years of experience in e-commerce, apps, startups and venture capital. Jonas’s extensive background and experience in tech and venture capital industries allows him to excel in this business.
- Evgeny Tikhomirov(Co-Founder / Chief Operating Officer) - Evgeny has built 3 biggest internet companies in Russia. He was Chief Operating Officer at eBay Russia, Chief Commercial Director at Yandex (the Google of Russia) and Chief Commercial Officer at OZON.RU (the Amazon of Russia). A true entrepreneur at heart and an experienced executive. Dorado will be his 4th billion dollar company.
- Erfan Hesam(Co-founder / Chief Innovations & Logistics Officer) - Erfan has founded Woopit.com, which is the company that Dorado will acquire in order to move into the Polish market.
- Mykhailo Daniuk(Chief Technology Officer) - Mykhailo is a an blockchain evangelist and a star at developing a company’s technological backbone. Has +10 years’ experience in IT.
- Valdas Vėgėlė(Chief Financial Officer) - Vital strategic partner to Dorado’s CEO. We at Dorado never saw the CFO’s role as merely encompassing traditional financial skills.
- 103.2014Launched Dorado's MVP - Foodout, in 3 years from idea in Jonas head, to growth of 6227% and becoming a leader in 6 countries.
- 201.2016Raised investment from most respected and well-trusted venture capital funds. Without funds aggressive expansion and becoming a leader in 6 countries.
- 303.2018Expansion to new verticals. Concrete plans set and teams ready to expand to 14 countries in 3 years. (2018 - 2020)
- 402.2020Aggressive marketing in current markets to strengthen the positions and expansion to 10 more new countries in 2 years. (2020 - 2022)
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