Moonlight ICO Review – Decentralized Workforce Platform - Crush Crypto

Moonlight ICO Review – Decentralized Workforce Platform

Summary

  • Project name: Moonlight
  • Token symbol: LX
  • Website: https://moonlight.io/
  • White paper: https://assets.moonlight.io/docs/wp/moonlight_en-us.pdf
  • Hard cap: 250,000 NEO for 50% of total tokens
  • Conversion rate: 1 NEO = 2,000 LX
  • Maximum market cap at ICO on a fully diluted basis: $17 million using current NEO price of $33
  • Bonus structure: No bonus
  • Private sale / white list: Presale ended July 3, 2018, public whitelist not available yet
  • ERC20 token: No (NEP-5 token)
  • Countries excluded: USA, South Korea, China
  • Timeline: Public token sale date not announced (please visit Moonlight's website and join their Telegram channels for the most up-to-date information on their upcoming token sale)
  • Token distribution date: After conclusion of token sale
Video summary (video is 6:41 long):

Project Overview

What does the company/project do?

Moonlight is a decentralized workforce platform on the NEO blockchain with the goal of changing how organizations recruit and scale their workforce.

Moonlight is trying to solve the issue of organizations allocating too many resources when optimizing project teams, and individuals’ skill sets not being properly utilized. The platform aims to be the defining factor of an ecosystem that optimizes employment from both an employee and employer perspective while improving public confidence in a project’s success.

Moonlight will use the NEO blockchain to deploy a network of trustless resumes that will anchor the platform’s tools. Initially, these tools will include a global task match-making service and analytical project management platform.

The task matching-making service will have issuers, or organizations creating tasks, and resolvers, the organizations that bid on and fulfil tasks. Every task completed by an organization is published to the blockchain along with the skills required for it, building up the trustless resume of the organization.

After a task has been completed, the issuer and resolver are prompted to review each other. The reviews are published to the blockchain and will provide insight to other users about the experience of interacting with the given organization.

Moonlight’s combination of trustless resumes and reviews on the blockchain aims to provide an efficient task marketplace that allows organizations to co-operate in a more efficient way.

How advanced is the project?

The Moonlight project was started in Q4 2017 and has since seen project presentations in Cambridge, Amsterdam, and San Francisco. The whitepaper was released in Q1 2018.

The future roadmap is as follows:

Q3 2018

  • Marketplace feature complete 
  • Marketplace beta release

Q1 2019

  • Marketplace initial public release 
  • Project management feature complete

Q2 2019

  • Project management public beta release

Q4 2019

  • Project management initial public release
What are the tokens used for and how can token value appreciate?

LX will use a similar multi-token UTXO operating mechanic to NEO and Neon Exchange, which will provide value to LX holders in the form of GAS dividends. The amount of gas awarded to LX holders is proportional to the fees collected by the Moonlight project.

In addition to dividends, the token will have utility in the form of reduced system fees. For example, fees will be taken when paying or receiving money for a completed task, and LX will have a 1% fee while other currencies incur a 2.5% fee.

As the dividend to LX holders hinges on the level of activity of the Moonlight platform, the more transaction and volume the platform has, the more valuable LX tokens should be.

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Team

The Moonlight team is comprised of core members of the City of Zion, a global group of open-source developers that support the NEO smart economy ecosystem. The biographies of key team members are summarized below:

Alan Fong, Co-Founder, Business Development Director – Alan is a co-founder of the City of Zion, and a developer working on the NEP-5 token standard. He works on documentation and translation for the NEO smart economy.

Tyler Adams, Co-Founder, Architect – Tyler is a City of Zion co-founder, and author of the NEP-5 token standard. His background includes mechanical and systems engineering, stochastic modeling, and project management.

Michael de Wal, Co-Founder, Back End Developer – Michael is also a City of Zion co-founder, and created the CoZ developer portal. He is a NodeJS and JavaScript Expert, as well as a former IOHK/IOJP - KYC platform dev and bot developer.

Chris Birmingham, Co-Founder, Blockchain Developer – Chris works as a developer for the City of Zion, and is the CIO of Eify Pty Ltd. He won the City of Zion Dapp competition with NeoTrade, and is a neo-js-vm (JavaScript implementation of the NEO virtual machine) developer.

Travis Lin, Co-Founder, Front End Developer – Travis is a City of Zion developer who is an analyst programmer with a Master’s degree in Computer Information Systems.

Advisors for Moonlight include Nathaniel Walpole, product designer at Neon Exchange, Christopher Dienes, Senior Statistician at Wiland, and Ethan Fast, co-founder of City of Zion and Neon Exchange.


Opportunities

  • We like that the introduction of LX tokens does not generate friction of using the Moonlight platform. User experience is paramount in adoption of the project and oftentimes, the use of cryptocurrency deters many people from using the platform.
  • The core team members are co-founders of City of Zion, so they have demonstrated development capabilities.

Concerns

  • Moonlight is a recruiting platform but the team lacks any experienced professionals from the recruiting industry.
  • Private beta was scheduled to release in Q2 2018, but according to the Telegram channel, it might not be available until token sale is over, details of which are yet to be announced. Therefore, we are not able to play around with the prototype.

Conclusion

Our thoughts of the tokens for short term and long term are as follows:

For short-term holding: C

Unless there’s some very strong factors surrounding the project, dApps in general just do not perform well in the current market environment. The presale started back in May 2018 and crowdsale details are still not yet finalized. Therefore, we believe the project has lost the momentum in terms of fundraising.

However, it is good to see that there was no bonus granted to presale participants.

For long-term holding: D

The Moonlight ecosystem relies on network effect to generate traction. If there aren’t a lot of job postings, candidates wouldn’t frequent the platform, and vice versa.

While the team is strong from a technical standpoint, they don’t have anyone who has a strong recruiting background to drive the adoption of the platform.

With so many other job marketplaces in both centralized and decentralized space, we believe that it would be difficult for Moonlight to generate substantial traction to build up its network effect from both demand (companies looking to hire) as well as supply (candidates looking for work) side.


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 Kieran O'Day.

​Our rating system is based on 5 tiers: S/A/B/C/D, with S being the highest and D being the lowest rating.

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