What is EndChain?
EndChain is a utility token that changes the way logistics is handled throughout the industry in a cost-effective way
How will it work?
EndChain aims to cover each sector of the supply chain, including the second hand market. Our product will be affordable, allowing even every day goods to be tracked on the blockchain. Additional functions for communications among the supply chain & allowing to set up subchains, further enhances the relevance of the product for the supply chain.
Simple to use
The EndChain QR code is unique in that it incorporates a barcode within the QR code. This design allows for simplified use as EndChain users will know to scan the only code found on the packaging. Other businesses which rely on legacy barcode technology will be able to scan the embedded barcode. Thus, EndChains QR code creates a singular code to work on any type of system. An additional benefit is that the single code can update both the blockchain and any internal legacy systems with a single scan. The goal of this is to reduce complexity while increasing efficiency.
A blockchain company can only be as strong as its economy. EndChain is committed to both its corporate users and investors. To ensure that the needs of both are met, a deflationary self-regulating economy will be used. Corporations will be encouraged to buy and hold EndChain tokens in order to purchase QR codes, make smart contracts and access the data stream.
A percentage of the fees associated with these functions will be ‘burned’ to reduce the number of tokens in existence. Shall the market value of EndChain stay the same, the price of individual tokens will rise.
A token needs a thriving marketplace to be successful. Tokens that are not being utilized serve no purpose to investors. Additionally, tokens that do not have a consistent steam of buyers creates unstable prices. This is why EndChain has focused on ensuring a lively market by engaging companies to purchase EndChain tokens. By using our tokens, companies can receive a discount on our qr codes, big data and smart contracts.
Who is interested in EndChain?
EndChain provides a complete and cost-effective logistics package that benefits all parties of the supply chain. While most utility tokens focus on high end goods, EndChain focuses on the low to middle market, an area that has been ignored for too long. EndChain is able to enter this market due to the ease and low price of our system compared to other utility tokens which focus on expensive NFC chips or manual entry.
How does this help EndChain buyers?
With a large base of potential customers, EndChain can immediately get to work selling our product. 2-4% of the revenue generated from sales will be dedicated to burning EndChain tokens. This will help decrease the number of EndChain tokens in the long term; thus increasing the price. As most companies need to plan ahead and budget, they are likely to buy and hold an amount of EndChain tokens. This will create strong support for the EndChain market.
Should the market for EndChain be depressed, more tokens will be needed to pay for each order. When more tokens are used, more will be burned; thus driving the price up until equilibrium is reached. As a result, its safer to hold EndChain for a long duration of time as there are protections against price decreases. Thus, EndChain will have a self-correcting system which allows for a stable economy.
The EndChain team combines a passion for logistics, finance and marketing and is committed to quickly listing its token on exchanges
THE ENDCHAIN ICO STARTS ON DECEMBER 1ST, 2018 AND RUNS UNTIL JANUARY 15TH, 2019
Should the token sale be fully funded and reach the maximum amount of allotted tokens sold, the ICO will cease and work upon the project will immediately begin. The primary goal of the ICO is to establish EndChain as a single solution for logistics problems across the supply chain. The token sale will continue until all tokens are sold or the time limit is reached. There will be a minimum funding threshold of $4 million USD and a hard cap of $15 million USD.
The EndChain ICO will consist of 5 rounds over the prespecified time. Rounds will be based on the amount of tokens sold and will feature a live counter to track the progress. To reward early adopters of EndChain, earlier rounds will have a larger bonus. The next round will start when the previous round is fully funded. The rounds and their respective fundraising goals and bonuses can be found in the table below.
To encourage investments throughout the ICO process, the last stage will feature 5 giveaways. Each giveaway will be for 40,000 EndChain tokens. These tokens are identical to any other token in the EndChain platform. The winners will be randomly selected with each investor receiving an entry for each token purchased.
The majority of tokens will be distributed via the ICO to decentralize control and raise enough capital to cover the cost of pushing EndChain throughout the supply chain process. The other tokens will be split into four categories: future development, team, leadership and advisors. Future development regards all possible business aspects. This includes, but is not limited to: bug bounties, tokens to corporations to boost participation and future development costs. The leadership and advisor tokens are given as an incentive to keep the team working and to ensure all employees are invested in the company’s well-being. The coins will be locked in a smart contract for one year, with quarterly distributions. The tokens for team members will be divided amongst the team dependent upon their position and quality of work.
Product development will be the focus of most of the funds. As a technology company, we will focus on reducing other costs so that our main product will be viable quickly and work flawlessly. The second largest use of our funds will focus on marketing and sales, which will focus on acquiring users across the supply chain to use our product. A wider adoption of our token will allow for a larger demand of our token and data, which will increase the consumption and price of the ENCN token.
Development. Most resources will be directed to the continuous development of EndChain. The goal is to first achieve a viable product in order to start obtaining customers. Then EndChain will perfect the product via listening to customer’s experiences. Development includes: developing APIs, developing the chain infrastructure and a user friendly UI.
Marketing. The main goal of marketing will be to encourage the use and adoption of EndChain tokens among manufacturers and transportation companies. Some marketing material will also be provided for end consumers to learn how to use the chain
General and Administrative. To support the development and marketing team, allowing them to focus on the main tasks of creating the product and widespread adoption. This balance will also cover overhead and miscellaneous fees
Legal. To ensure the whitepaper, blockchain and token are within legal compliance and regulations.
Security and Compliance. To further develop, test and check the security of the blockchain and any access points.
Nov-17 Development of EndChain concept
Feb-18 Whitepaper v1 completeed, design process flow
Jun-18 Discussions with patent lawyers
Aug-18 First working version of unique EndChain QR code/barcode Different versions being tested for efficiency
Sep-18 Launch of www.EndChain.io Release of a finalized EndChain Whitepaper
Oct-18 Setting up ICO and reaching out to potential partners Obtain patent pending status
Dec-18 Start token crowdsale
Jan-19 Finish of crowdsale Token distribution following internal and external audit
1Q19 Develop beta smart contract library Basic KYC framework development Prepare strategic partners for early adoption
2Q19 Direct communications infrastructure Create API for easy use of our system
3Q19 Complete test platform for contracts Alpha-testing of Minimal Viable Product through existing app with leading partner
4Q19 Beta-testing of the app, roll out beta to more partners UI and UX improvements to app
1Q20 Discuss with beta-testing users and update app based upon suggestions Improve app functionality and backend integration
2Q20 Improvements for fraud reporting and allocation Train AI to recognize patterns in fraud
3Q20 Full version of app launch
4Q20 Big data analytics opens Further development and features to be announced
The concept for EndChain has been under development since March 2017. After having experiencing the pressure points in logistics first hand, extensive research was conducted to eventually discover that blockchain technology provides the best solution to address most of the common pain points in the supply chain. The team believes that EndChain has reached a level of maturity where it requires funding to elevate itself to implementation stage.
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