- Project name: dock.io
- Token symbol: DOCK
- Website: https://dock.io/
- White paper: https://dock.io/whitepaper
- Hard cap: $20 million for 30% total token supply
- Conversion rate: 1 billion total tokens / 1 DOCK = $0.067
- Maximum market cap at ICO on a fully diluted basis: $67 million
- Bonus structure: 40% bonus for pre-sale investors, but 50% of total contribution is locked up for 4 months
- Presale or white list: Both Yes, whitelist registration opens on February 8, 2018
- ERC-20 Token: Yes
- Countries excluded: China
- Timeline: Token sale opens February 21, 2018 (Please refer to Dock’s website for the most up to date information)
- Token distribution date: Following the conclusion of the ICO
Video summary (video is 7:57 long):
What does the company/project do?
The dock.io protocol is a decentralized data exchange protocol for the professional industry. It aims to provide a solution for what they term “data hoarding” with current professional networks, which have no incentive, or disincentive to share their data with the competition.
They aim to do this by creating a data exchange that will (1) integrate user profile (work experience, education, location, contacts, qualifications, etc.) from different platforms, and (2) incentivize data transactions/sharing, while providing user complete control over their own data.
For Users, they will be able to synchronize all of their employment history and data in one location. It will be updated automatically as the users update their information in other platforms, and they will be able to control which data moves between different platforms with opt-ins/outs.
For Data Providers and Consumers, providers will be platforms and applications that send individual users data regarding any updates to their information on that respective platform, while consumers will be applications that must pay to access the data.
Furthermore, all data will be fully encrypted and stored using the blockchain, and can only, therein, be controlled by the user with the appropriate keys. The data can only be decrypted when willingly exchanged between parties.
How advanced is the project?
The project has established partnerships with Remote.com (where most of the team owns/previously worked), FundRequest, and SmartRecruiters.
All of the above operate within the professional space with either linking professionals directly, linking employers to potential employees, or providing a decentralized way for professionals to work together.
They also have a working app in alpha, which is growing by 3000 users daily. Below is a screenshot of the Alpha:
Moving to the future, their roadmap is as follows:
Q1 2018 - Dock.io app release.
Q2 2018 - Remote.com partner integration, along with additional partners upcoming. This will allow data to be transferred between each platform.
Q3/4 2018 - Network Data Exchange launch, allowing platforms to trade data for DOCK tokens.
What are the tokens used for and how can token value appreciate?
DOCK tokens are going to be used primarily as the currency for data transacting. Token holders can also introduce new proposals and vote on the future development roadmap of the protocol.
Users will have control over which applications can access and update their data. DOCK tokens will not be used to incentivize users to share data with applications.
Applications will indirectly pay other applications to access their data. If an application pays a flat rate fee to a user for their data and no third party application data is included, such fees (in DOCK tokens) will be burned.
Because of this, the token’s value will be intrinsically linked to the demand for users’ information. Furthermore, this means that there is greater incentive for applications/platforms to use the dock.io platform for data acquisition the more users will join and actively use the app.
There are a total of 12 team members, and the core team has been working together on other businesses/platforms in the past. The following is a brief bio of those core team members.
Nick Macario, Co-founder & CEO – Over 10 years’ experience in web and mobile marketing/applications with his most recent experience being the CEO of Remote.com (2.5 million professionals’ network).
Elina Cadouri, Co-founder & COO – Over 8 years’ experience in research and marketing with the most recent being with Outsource.com as co-founder.
Stenli Duka, CTO – Over 4 years’ experience in software engineering with the most recent being with Remote.com as CTO.
Evgeniy Zabolotniy, Lead Backend Engineer – Over 10 years’ experience in systems administration and program architecturing with his most recent work being with Remote.com.
Todd Scheuring, Head of Design – Over 15 years’ experience in web design with his more recent being with Remote.com.
Sergey Ermakovich, Lead front-end Development – Over 10 years’ experience in web and front end development with most recent being with Remote.com.
They also have a suite of advisors include Lasse Clausen, who advised both FundRequest and Request Network, Christopher Heymann, who is the CTO of Daily Ride and advised Fund Request, and Lester Lim, founder of JV Connects, and advisor of SelfKey, Ink Protocol, and Coinfi).
- DOCK tokens should have quick adoption from DOCK’s partnerships with Remote.com and other companies that have lots of users (tens of millions according to the company).
- The project is backed by a strong team that has previous entrepreneurial success in relevant area (recruitment and outsourcing).
- The Alpha is easy to set up, functions well, with a slick user interface.
- There is a burning mechanism of tokens, so token supply will decrease over time. Negative inflation is good for token valuation.
- The project has attracted various venture capital investors, meaning that it has passed the scrutiny of those institutional investors.
- The Dock Protocol represents a two-sided market (applications and users). If the protocol cannot attract users from both sides quickly, the network effect would be diminished.
- The key team members are working on both Dock.io and Remote.com. Although the two ventures have synergies, it is unclear how the team members will allocate their time.
Overall, we like both the flipping and long-term potential this ICO. Our thoughts on buying the tokens for flipping and investing for the long term are as follows:
Good. We believe the idea, team, development progress, token metrics with whale protection mechanism, and market awareness are all above average.
For long-term holding
Good. We like the idea of users taking control of their own data. This is one of the key benefits of a decentralized system over the centralized counterpart.
Although the idea of the project is somewhat niche in the professional industry, we believe that the team is very well-equipped to execute the vision of the project and bring the project to success.
For more information about the ICO, please visit the following links:
* The information contained in this article is for education purpose only and not financial advice. Do your own research before making any investment decisions.
This article is contributed by Victor Lai with the help of our intern John Coburn.