REPU (REPU) ICO Review – ICO Token News
What is REPU?
The REPU system or REPU, abbreviated from the English word ‘reputation,’ is a decentralized blockchain technology-based rating and feedback system, which allows you to rethink the way social networks are perceived. The system completely replaces the system of “likes” as a way of rating both companies and users. The rating system functions as an assessment tool and helps in assessing different arenas of the individual’s life, beginning with financial stability, professional skills, and all apparent facets of behavior and interaction with the public.
REPU’s primary goal in introducing this platform is to revolutionize the perception and interaction among social network users, using the rating system, and managing the company’s reputation, by acquiring real business ratings from users. The system also helps in assessing a person in terms of his/her professional qualities. This way, it will help in eliminating the subjective opinion of the recruiter and the impact of the resume on employment.
The system further facilitates the evaluation of individual companies/products/employees thus enabling every user to give ratings plus a review for each element of the business. As a result, business owners can analyze every single unit of their company and communicate with their customers.
Current problems in the market
Long delays when giving feedback
- Long delays in response to feedback on a service using the social networks.
- The customers have to go through a step-by-step process to make it possible.
- If no feedback is given, the management of a company cannot find out the problems, so it is unable to correct its service or product.
Feedback on employees
- Feedback, given on an employee’s behavior and ratings on the service rendered by an employee of a restaurant, hotel, motel or accommodation, help the employees and employers in reviewing each other.
- It is highly useful for the user when there is a choice of rating and giving feedbacks about a specific restaurant and employee separately.
- Due to today’s fragmented market, the owners of companies need to spend a lot of time in creating and maintaining their companies’ pages, moderating, and responding to customer feedback.
- These actions don’t just demand resources, but they are also time consuming.
- Time invested in such activities could be spent on improving the service, or improving the skills of specific employees who lack the company’s general concept.
Solutions being offered by REPU
REPU allows its users, which could be ordinary citizens, companies, employers, recruiters, government officials, law enforcement officials, etc., to make use of the feedback and rating system in everyday life.
Developed as a separate project, the platform plans to integrate into social networks, such as Facebook, Vk.com, Youtube, Instagram, LinkedIn, Snapchat and replace the currently available system of “likes”.
Feedback and ratings work through the decentralized blockchain technology and smart contracts. The REPU platform enables users to leverage the feedback and rating system in everyday life.
Some of the key features of this system are include:
- Providing rating (scores) in place of “likes” for social content.
- Providing feedback and ratings about companies.
- Managing the company’s reputation for its owners.
- Professional ratings for recruiters.
Use cases for REPU
A few of the proposed uses for REPU are as follows:
- Banks: Banks can align their credit ratings based on values from the REPU system.
- Insurance companies: Insurance companies can adjust the size of insurance payouts based on the client’s rating.
- Recruiters: Recruiters can evaluate a person in consideration of his/her professional skills and social adaptation taking into account his/her rating.
- Law enforcement agencies: Police can evaluate a person’s rating to ascertain whether he/she poses a danger to society.
- Ordinary citizens: Ordinary citizens are allowed to evaluate REPU ratings when meeting new people.
- Advertising industry: Advertisers can target users who have a specific rating level.
- Hotel industry: Hotels can pre-define conditions for the accommodation of customers. If a customer’s rating goes below the set benchmark, then he/she may have to adhere to stricter conditions.
How does REPU work?
The main goal of REPU is to create a reputation system where users including ordinary citizens, employers, recruiters, government officials, police, etc. can use a rating and feedback system in their everyday life.
The platform is being developed as a separate project, although the goal is to integrate it into social networks such as YouTube, Instagram, and LinkedIn in the future.
The basic function of REPU is to replace the existing “like” systems with the REPU system based on blockchain technology and smart contracts. When somebody likes your Facebook post, for example, you can enhance your REPU rating.
One of the most important things to note about REPU is that all reputation data is built on the blockchain, which eliminates the possibility of forgery or deletion of reviews and ratings.
What is the REPU token?
- The REPU token is a virtual currency that you can use inside the platform to pay for the company’s reputation management services (monthly, quarterly, half year, and annual subscriptions), reward users for ratings to make internal payments for goods/services within the REPU infrastructure.
- This cryptocurrency will be awarded to users who give ratings within the system.
- These tokens are automatically generated by the REPU smart contract but only when a company makes payment for reputation management services with its own means or methods.
- REPU tokens are built on Ethereum ERC20 (similar to other ICO tokens such as Guardium, TrustedHealth, Energy Premier, BunnyToken, CryptoLoans, Omnitude, Ternio, Adblurb).
- The REPU issue is limited to 250,000,000 REPU during the closed round, pre-ICO and ICO.
- Undistributed REPU released for sale during the closed round, pre-ICO and ICO, will be frozen (destroyed) on the same contract without the possibility of subsequent withdrawal or use.
The REPU issuance is programmed by a smart contract and will be carried out in the following order:
|ICO||175,000.000REPU||70%||Frozen till – 30/03/2019|
|Closed Round||12,500,000 REPU||5%||28/02/2019|
|Bounty & PR||12,500,000 REPU||5%||14/04/2019|
|Bonuses and reserve||5,000,000 REPU||2%||No date|
REPU pre-ICO and ICO details
Closed round still live
- This round will continue to carry on until the pre-ICO.
- The hard cap is set at 1000 ETH.
- The minimum purchase amount is 1 ETH while the maximum purchase amount is 300 ETH.
- The company will be spending the funds on preparing the pre-ICO and ICO.
REPU pre-ICO is still ongoing
- The REPU pre-ICO is still ongoing.
- For this round, the company has kept a hardcap of 1800 ETH.
- The minimum purchase amount during this round is set at 0.1 ETH, while the maximum purchase amount is fixed at 500 ETH.
- The funds will be spent on preparing and marketing the ICO
REPU ICO token sale details
- The REPU ICO token sale will take place in February 2018.
- The company has set a goal to achieve 3,000 ETH, and has kept a hardcap of 30,000 ETH.
- For this round, the minimum purchase amount is 0.03 ETH, whereas the maximum purchase amount is unlimited.
Description of expenses during REPU pre-ICO and ICO
- For the closed round, REPU has priced tokens at 0.00008 ETH, and the minimum purchase amount is 1 ETH.
REPU token pre-ICO
- For the pre-ICO round, the minimum purchase amount is fixed at 0.1 ETH, and the price per token: (price in USD are mentioned, in accordance with the estimated exchange rate of USD690/ETH).
- The price will be increasing on a daily basis during the token sale.
Below is the chart that will show you the constant price change during the pre-ICO.
REPU token ICO
- For the REPU ICO round, the minimum purchase amount is set at 0.03 ETH, and the price per token in USD are stated, as per the approximate exchange rate of USD690/ETH).
- During the ICO token sale, the price will continue to increase every week.
Below is the chart that will show you the per week change in price:
REPU tokens funds distribution
Funds collected during the REPU ICO token sale will be distributed in the following ways:
- 7% for operating costs that include salaries, office expense, etc.
- 2% for loan repayments (not more than USD5000,000).
- 18% for infrastructure and community development.
- 42% for PR, marketing and platform promotion.
- 20% for research and development.
- 1% for taxes, unforeseen expenses.
- 10% for reserve.
If you purchase 2 ETH and higher, REPU allows you to take advantage of the bonus program. Bonuses will be distributed in accordance with the amount of investment. The exact amount of bonuses is shown in the chart below:
The REPU lucky lottery draw will take place in 2-stages with prize pools of 600,000 and 650,000 tokens accordingly after the pre-ICO and ICO. Within the timeframe of 2 weeks upon completion of each stage, the first 5 winners will be selected.
The following are the 5 largest sums in descending order that will be credited to the company’s account, and 45 random winners who will be awarded with the REPU tokens.
Distribution of tokens among winners:
- First place: 10%
- Second place: 5%
- Third place: 3%
- Fourth place: 2%
- Fifth place: 1%
- Sixth or Fiftieth place: 80% (distributed evenly)
REPU bounty token distribution
- 5% will be distributed to artwork.
- 10% to big media authors.
- 20% to translation and moderation.
- 5% to telegram campaign.
- 25% to signature campaign.
- 15% to blog and media campaign.
- 15% to the Facebook campaign.
- 10% to the Twitter campaign.
How to register with REPU
In order to register yourself with REPU, you must first link your profile to one of the social networking sites, Facebook, Vk.com, Instagram, and LinkedIn. No user will be allowed to register unless he/she links his/her profile to existing social networks.
The team behind REPU
Dissimilar to other ICOs, such as Mango Start Ups, Gamblica, Alttex, THEFANDOME, PodOne, EQUI, StarLight, Kelta and a lot more, REPU was created in Q1 2017. Led by co-founders Maksym Tkach and Maksym Lenets, the team of brilliant brains is strongly committed to revolutionizing the digital currency world with its highly professional team members.
Apart from its co-founders, other members helping in establishing the REPU platform, include:
- Bohdan Pavlyshenko, Chief Delivery Officer.
- Boris Otonicar,
- Peter Zhalov,
The REPU project will change the way we perceive employees, businesses, friends, acquaintances, and strangers. With this new and innovative platform, the company aims to replace the existing social media “likes” with a global rating system. Every social media “like” you receive adds to your REPU rating. The higher REPU ratings you receive, the higher social status it brings, plus better banking rates and insurance, better jobs, and even better hotels.
Overall, REPU is the result of an innovative idea, which is full of potential. If you believe in this project and see benefits through investment, then you should get ready to join its token sale to contribute to its development.
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- Maksym Tkach(Co-founder) - Experienced in Digital Marketing, SEO-optimization with over 10 year. Strong business analyst.
- Maksym Lenets(Co-Founder) - Strong experience in business development, strategy and investment. Over 8 years experience in sales and trading.
- Bohdan Pavlyshenko(Chief Delivery Officer) - A results-driven, customer-focused, articulate and analytical Senior Software Engineer with over 5 years of experience in Software Development.
- Maksym Trostyanchuk(Mobile Solutions Manager) - Experienced developer, with a high level of proffessional skills. Excellent team leader, knows how to motivate and support people in team.
- Nazar Ivanchuk(Technical Lead) - I’m software developer with over 6 years of commercial experience in mobile solutions implementation.
- Viktor Skabiak(Middle Android Software Engineer) - Strong knowledges in Android Application Development. Responsible, communicative, results-driven, hard-working, proactive, self-motivated, decisive; Logical and methodical approach to achieving tasks and objectives
- Yuriy Pyrko(Python Software Engineer) - Top Rated full-stack software developer (Python/Django/JS). Experienced in following project types: B2B, e-commerce, social network, healthcare, HR (human resources), programming (algorithm) challenges.
- Oleksandr Samborskiy(PHP/Angular developer) - Experienced PHP/Angular developer, with a high level of proffessional skills with over 6 years of experience. Responsible, communicative, results-driven, hard-working, proactive, self-motivated, decisive
- Constantine Mizgirov(QA Lead) - Through my career path I’ve got decent competency, which lies within areas of quality control activities. I often seek for capabilities necessary for instructing, influencing, and otherwise enabling engineers to achieve project and team-related goals.
- Danylo Pidhainyi(QA Engineer) - Web applications/sites testing; Mobile & Tablet applications testing: Android, iOS; Using different types of manual testing: functional, exploratory, localization, compatibility, ad-hoc, usability, UI, UX, regression, in-the-wild, etc.; Cross browser and cross-platform testing
- Igor Marckevych(Chief Legal Officer) - Co-founder and partner of Amigo Partners, the founder of Amigo Labs. Igor has provided legal support to 12 ICO projects in various jurisdictions and on most popular platforms.
- Leonid Pokrova(Legal & Compliance) - Co-founder and partner of Amigo Partners. Leonid has a considerable experience in protecting the rights and interests of investors both at the level of negotiations / mediation, as well as at the level of international arbitration.
- Maksym Ivanyshyn(Legal & Compliance) - Co-founder and partner of Amigo Partners. Maksym's key specialization is the legal support in attracting investments and structuring of investment projects.
- Alla Macewicz(Legal & Compliance) - Co-founder of Amigo Partners. Alla has been developing and establishing communication between business and government structures for 6 years already.
- 111.2016Reputation management and social networks – global market analysis. Development of the primary idea of the platform.
- 201.2017Team building
Development of the project concept
Development of prototypes
- 304.2017Studying blockchain in terms of platform integration perspective
Risk analysis, associated with blockchain
The start of the platform development
- 409.2017Platform integration with blockchain
Closed alpha testing of the platform
ICO market analysis
- 511.2017Whitepaper Development
Smart Contract Development
- 601.2018Pre-ICO stage
- 702.2018February - March
- 804.2018Closed beta testing of the platform among ICO participants
- 907.2018Public testing of the beta version of the platform
- 1010.2018Platform release
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