Recapitulation of MileStoneBased PROJECT AMA event held at AMA LOVERS CLUB.
Date: Friday, 5th October, 2021
Time: 12:00 PM UTC
The MileStoneBased PROJECT team was represented by @ISava777, @Iamkaravanets and @Ian_arden who judiciously shared with us detailed knowledge and information about MileStoneBased PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourselves and your background, also introduce the team working on milestonesBased?
ANS: My name is Ihor Savchuk, I'm from Ukraine. CEO at milestoneBased, Senior Partner at Applicature and CTO at Gamestation. My background is tourism, busdev, management and blockchain=)
milestoneBased (mB) is a passionate team of professionals who have worked together over the past 1 to 5 years. Our team has deep experience in blockchain and distributed networks. It includes blockchain developers, startup industry experts, business developers, investor relations and finance specialists that have experience starting and scaling multiple companies since we've been incubated within applicature.com
We've successfully launched crypto projects or blockchain development agencies together working with multiple clients. This time we bring our expertise to solve an industry pain point in effective collaboration between startups and investors, as well as funding management for deployed funds.
And I am Sergio, live in Kyiv. CMO at milestoneBased. Marketing manager at http://Triall.io. I love to launch new projects off the ground!
Q2: Can you introduce milestoneBased, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: The current problem that we observe in the market is lack of process and capital efficiency in the collaboration between investor and startup. There is also a lack of transparency, security, access to funding and knowledge on the part of new founders to understand investor expectations after a sizable funding round.
What we aim to do is exclude some of the time and process inefficiencies of the human factor from the funding runway management, and make it data and performance-driven. So basically instead of allocating a $2 M USD tranche at once, a VC manager can transfer $100 k USD for a specific milestone execution. After verification of completion, they can allocate another $100 and so on.
As for governance, it is as DAO centric platform, meaning that the community of investors influence the decision all transparently through the voting modules. Funds are held in a secure smart contract escrow function on the blockchain.
To add on top of that
Most of the projects token charts are declining after the initial spike.
That indicates about the sell pressure problem for projects, which is happening because there is a lack of trust and alignment between the founders and investors.
we will solve that by providing extra security for investors, because their funds are going to sit on escrow smart contract.
Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: @Ian_arden is going to record a message to let you know what we have achieved so far. I will expain the future vision.
Our short term vision includes:
1. Internal product testing
2. Launching the product for the whitelisted partners
3. Growing the community.
4. Launching our community token in the mid-end winter
On top of that we have got a big document with the future milestonBased functionality
It includes things like notifications, integration with Chainlink for automated data pulling, AI usage and so on.
But we will take feedback from early adopters and that document will be adjusted based on that =)
Please, check our landing page with the roadmap - https://sale.milestonebased.com/
Q4: Can you briefly describe your PARTNERSHIPS so far?
ANS: With plenty of experience in blockchain distributed networks, we understand how vital it is to have partnerships.
We are very proud to cooperate with Applicature, a business to business blockchain solution provider and accelerator. The beta version of milestoneBased was incubated by Applicature co-Funders Ian Arden and Andrew Zubko.
Ferrum Network (which adds token utility and advisory services to projects across the crypto space) are one of our main advisors providing advice and access to their networks.
On the security audit side, we have a strong partnership with Zokyo (ranked TOP 1 smart contract auditor in 2019 by Forbes).
Our legal side is being covered with the help of SkyVision Capital (a Crypto Fund that is dedicated to incubating and investing in founders of tomorrow).
A majorfocus is the growth of our ecosystem and onboarding new partners to become the adopters and advocates of mB solutions.
Yeah, we've also already have committed VCs and projects to utilise our solution
Among them, Zokyo, Mempool Ventures, Kaishi, GOinfluencer etc
More to come, stay tuned =)
Q5: Finally on the introduction segment, Can you give an overview of the Tokenomics, and Utility of mB tokens?
ANS: The token metrics is currently being finalized by our advisors - Ferrum network. We will publish it once the decision is made.
What you want to know about it is that it doesn't have private rounds whatsoever
because of our Power Launch strategy
Regarding the utility of our community token - it is going to be a token used within the milestoneBased platform. The payments inside the platform, access to plenty of features, and also the governance of the milestones would be executed with the help of the token. Of course, other currencies will be acceptable for the functioning inside of the platform but the token will have benefits for users.
Q6: There won't be private round, so only public round?
Yes. There will be a direct listing on DEX.
You mean a fair launch?
ANS: No private sale => no sell pressure from private investors
It's not a fair launch by definition, because top value adders will have a priority queue. But yeah, it is closer to a Fair launch rather than to standard IDO/ICO.
We are prepping the materials, among which is Power Launch memorandum, which is going to explain the process.
Interesting! Looking forward to reading more about this "Power Launch" 😄
It is! You better register fast 😅
2nd Segment: LIVE Questions
Q1: We are a start up company and haven read the Milestone Based Solutions, we feel the AMA session hosted in the perfect opportunity to interact with you. HOW CAN WE GET STARTED IF WE WANT TO USE YOUR SOLUTION TO INCREASE OUR SUCCESS POTENTIALS AS A START UP ? can you take us through the steps and nitty gritty required to come onboard Milestone Based ?
When is your public sale taking place and how do I get the MB Token. Which platform is the public sale going to take place and when is it happening ?
ANS: 1. milestoneBased is a perfect opportunity for you. We cannot allow you to participate in milestoneBased atm, because it is passing internal testing. Only when we ensure that the product is safe and secure and all the audits and pentests are passed successfully, we will allow it for the use. Right now the best thing which you can do for your project is sign an MoU with us, stating that you will use mB for your roadmap management. So that your investors feel safe.
2. Our public sale will happen in winter. We are going to have direct listing on DEX (Uniswap/Quickswap). The best thing you can do if you want to participate is register your interest and what value add you can bring to the project here: https://sale.milestonebased.com/#form-section . Around 25 addresses will be selected based on their contribution =)
Q2: How do we gain CONFIDENCE in you that you won't SCAM users or RUGPULL
Are you LIVE.????
Can I still get whitelisted or it's late by now. ?
ANS: At first we are not one night stand project. It has been in development since 2018. The full development team was hired in 2020. Also the project itself is incubated by legit reputable agency Applicature. We already partner with plenty of crypto companies as Zokyo, Ferrum, SkyVision
To add to this: our team is 100% public and transparent. And the last - we are much interested in making mB like next Unicorn rather to get away with the peanuts =)
Q3: What are the SPECIAL UNIQUE FEATURES milestones have to offer users that makes it better and ahead your COMPETITORS
Can milestone be used and access by everyone globally without any restrictions
ANS: 1. What makes us unique is that we have actually designed and developed this product. A lot of people have thought about it, even Vitalik had a DAICO concept back in 2018. Which is when we started working on milestoneBased. No one has a combination of DAO, escrow smart contract and roadmap capital efficiency as of now.
2. mB can be used globally without restrictions as long as you are complaint from your project standpoint.
Q4: One of the major problems of the current system is that many tokens do poorly because of the heavy presale and these tokens usually gets dumped by early investors. How does milestoneBased aim to solve this?
ANS: Long story short - we don't do presale. we don't do public sale. we don't artificially split the price. we know how it's like to be dumped so we would like to change it by making the enter opportunity equal to everybody. without pre-sale investors there is no sell pressure. This is what we call a Power Launch, so that the power to decide upon the future of the community token is in the hands of community, not exclusive secret group.
Q5: Something interesting when researching the platform is that on their Twitter account they report "using the power of a blockchain DAO" but I have not found information on their social media or website to this point. So, I would like to know the characteristics of their governance framework or DAO? How do Startups and VCs influence this DAO?
ANS: I like this question!
Our DAO implies usage of the escrow smart contracts, voting strategy and funds withdrawal strategy.
In simple format, community tokenholders can view the project's roadmap and its milestones. Depending on the voting power and the milestone execution, a vote can be initiated in order to either approve this milestone or disapprove. Based on the result of the milestone and the selected funds withdrawal strategy, the community votes on the next tranch of funding to be allocated from the escrow smart contracts.
There are a lot of possible scenarios. We've thought about a lot, but definitely more will be noticed down the road.
Thank you guyz for attention! We hope were not too boring 🤪 We are progressing with everything as we speak. Feel free to jump in the channel and ask any questions! Follow buttons are here: http://linktr.ee/milestonebased
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