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Incremint (MNTS) ICO Review – ICO Token News

Overview

The growing role of blockchain in the world economy is resulting in an increasing number of transactions involving digital currencies. Lack of trust between the parties is a key problem for commercial transactions. To use a sale transaction as an example, the buyer wants to be sure that he receives the goods and the seller wants to be sure that he receives the payment. It is easier when the exchange can happen simultaneously, and the parties can confirm they are receiving what the bargained for. Time delays (e.g. goods need to be produced first) create risks for parties. For delayed exchanges of promises, escrow has been used for centuries. A trusted third party (an individual or an organization) holds the consideration until the obligations are fulfilled (delivery of goods, performance of services, repayment of mortgage, etc.). Incremint is using multisignature wallets and smart contracts to decentralize escrow.

Incremint is a fintech startup that will provide businesses and consumers with

  • Escrow solutions for token sales (both for funds and tokens) with voting release/refund mechanisms.
  • increased demand for token sales and market intelligence for optimized token strategies and sales processes owing to the merits of Mint tokens;
  • escrow for commercial transactions involving digital assets with a quick internal dispute resolution mechanism;
  • facilitation of independent expert opinions from third-parties;
  • limited project due diligence; and
  • Custody and administrative services for blockchain projects.

Problem

Many ICOs shift all of the business risks on the token buyers. The idea of creating the Incremint platform emerged from our experience as advisors on initial coin offerings. Often enough, a team creates a website and publishes a white paper for a project that is just a concept. Token buyers have negligible ability to perform due diligence on an ICO, which often has no underlying product to assess. Token buyers have no say in the governance of a project’s execution after the ICO. They must accept not only the risks associated with the viability of the project, but also the risks associated with the integrity and competence of the issuers in delivering the project. Existing multiple signature escrow mechanisms rely on the discretion and performance of a person, the impartiality of whom is not always certain.

Solution

Incremint is a hybrid escrow product combining the reliability and trustworthiness of a traditional escrow mechanism with digital wallets and decentralized smart-contract voting. Incremint enables issuers to customize parameters and escrow a portion of funds raised in their ICO, subject to release when designated milestones have been met and approved by token holders.

Using Incremint, only a pre-agreed amount or percentage of ICO proceeds passes through immediately to issuers at token sale closing. The remainder is escrowed in a multisignature wallet. At agreed dates, ICO token holders vote to confirm whether milestones have been achieved, which, when confirmed, automatically causes the release of escrowed funds to the issuers. If an issuer is unable to achieve a milestone, escrowed funds can ultimately be returned to token holders following requisite voting procedures.

Voting procedures are structured to prevent manipulation and unfair outcomes for issuers, while affording sufficient and reasonable protections to token holders. Incremint supports transparency and fairness after an ICO closes. It incentivizes communication and disclosure from issuers and rewards their achievements. It protects backers and engages them in a project’s success.

Incremint Features

Incremint escrow solution will offer the following core features:-

  1. multisignature wallets for holding cryptocurrencies in escrow;
  2. increased demand for token sales and market intelligence for optimized token strategies and sales processes owing to the merits of Mint tokens;
  3. arrangements with escrow agents to hold fiat currencies in escrow in regular bank accounts;
  4. blockchain based smart voting capabilities (with flexibility to deal with unexpected circumstances by calling for extraordinary voting);
  5. real-time status updates of voting and fund disbursement status for both issuers and token holders;
  6. Communication channels between parties to escrow arrangement (token issuer and token buyers, service provider and client, etc.);
  7. blockchain based dispute resolution mechanisms;
  8. facilitation of independent expert opinions from third-parties;
  9. basic project due diligence on team and legal entity;
  10. automated fund release mechanism based voting results; – dedicated account representatives;
  11. currency volatility risk management capabilities; and
  12. contract templates for various transactions

Incremint Business Model

Incremint will charge an issuer 1% of its ICO proceeds with a minimum fee of US$50,000. No upfront payments will be required. The first $50,000 of ICO proceeds will go to Incremint to ensure minimum payment. The escrow fees will be withheld from the ICO proceeds. General escrow (and other) services provided by Incremint will be charged in accordance with task complexity and then applicable economic feasibility.

Mint Tokens

The core purpose of Mint tokens is to establish an ecosystem of demand for issuers using Incremint’s escrow platform, and to incentivize engagement critical to the optimal functioning of the ecosystem. For this to succeed, compelling tokenomics must exist for Mint token buyers. Mints give their holders discounted participation in the ICOs of Incremint’s clients and discounts on all services provided by Incremint.

If you are also interested in ICO investment then Incremint can prove one of the best ICOs to invest to reap good benefits in the future.

Team

  • Hans Battle
    Hans Battle
    Hans Battle
    CFO, Co-Founder
  • Peter Khokhlov
    Peter Khokhlov
    Peter Khokhlov
    COO, Co-Founder
  • Andrei Danilov
    Andrei Danilov
    Andrei Danilov
    Chief Strategy Officer, Co-Founder
  • Sergei Kolobov
    Sergei Kolobov
    Sergei Kolobov
    CTO
  • Adi Ben-Ari
    Adi Ben-Ari
    Adi Ben-Ari
    Head of Development
  • Anna Svetlakova
    Anna Svetlakova
    Anna Svetlakova
    Technical Infrastructure Manager
  • Mark O’Hare
    Mark O’Hare
    Mark O’Hare
    Director, Citigroup
  • Karyl Fowler
    Karyl Fowler
    Karyl Fowler
    Co-Founder & CEO, Transmute Industries
  • Peter Phillips-Minet
    Peter Phillips-Minet
    Peter Phillips-Minet
    Executive Director, Goldman Sachs

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