It’s official now – we’re entering the cupid’s den with crypto! No wonder then that our lonely sailor readers need some love, and we think they may be interested in combining their love for crypto with the love for women. So to them, we introduce a new crypto that will soon go the usual ICO route – DateCoin.
DateCoin, as its name suggests, is a crypto token for a dating platform. The team already has a dating product in market, which lends it some much needed credibility in this space. The product, called Denim, is a dating app in Russia that promises the highest quality and real women for worthy men (so not your typical dating app!). However, what makes it different from a bunch of other dating and hookup apps in the market today is it is part of the so-called ‘programmatic dating’ market, which is a niche, but fast growing market.
The idea is to use some of the latest innovations and technologies in computer science – machine learning, AI, and big data based insights, and apply that to the dating market. The result is presumably better results that fit your profile and your needs in the dating market.
DateCoin project is implemented by professional team experienced in launching of profitable dating service, which makes it stand apart from many other competitors. DateCoin is the synergy of artificial intelligence and effective business modeling for pragmatic dating service as previously described, which also allows it to distinguish itself from the competition.
We at Crypto Sailor filter some mess from the turbulent seas, but DateCoin is based on a fairly successful already existing product and app out in Russia. Granted they are not as international as some other such sites, but hey you gotta start somewhere. And it’s heck of a lot better to do this with an existing product than try to do something from scratch (I am looking at you Matchpool).
Here’s a screenshot of the girls from their website. You be the judge.
And here’s a slightly more magnified view of the people on the platform:
Now it is important to note that these are not fake profiles or bots of what not that other sites use. Since the whole pitch of the site is to connect wealthy men with beautiful women, their reputation is all they’ve got. In fact, the team claims that they use pretty advanced machine learning and AI to detect any fake profiles and bots and only provide the best quality results to the men using the platform. This is important because fake profiles can destroy trust in the platform.
In addition, what really surprised me positively is that they have been covered in major publications like Maxim Russia and Playboy Russia. That’s a pretty legitimate claim that not many projects can make. Heck, they’re even featured in the Cosmo!
They also have a phone app, which is the primary way people today communicate and look for that special one. Not that we care too much about a mobile app, but just goes to show that the team is serious about their business and is running a successful show already before the ICO even begins.
So that’s the product you’re looking at. A very legitimate team and product that already exists and serves the marketplace, but sees the need for a token to expand and better their services, which let’s admit, needs money. They’ve been featured in major news media outlets out of Russia, and they have plans to expand to other parts of the world, given their success in their home market of Russia.
But this isn’t the end of the line – the team has some very ambitious goals for growing the platform and network in the future. Today, they are at 500,000 users, but their goal is to go up to 19 million users in a time span of 4 years. They plan to do this via a variety of means, including geographic expansion into other markets.
Here’s a list of countries they are looking to expand into, for example:
About the DTC Token
Datecoin has its own native token on the Ethereum blockchain, called the DTC Token.
The DTC token is used as the platform currency in the backend, which means that the end user doesn’t even know that they are using the DateCoin tokens or DTC to pay for the app. However, behind the scenes, that transfer is taking place in converting regular fiat money into DTC tokens. This drives the use for the tokens, while also increasing the demand for the tokens as the app becomes more popular and more people want to join, especially as the team grows this out to other countries.
In addition, the team is doing a very sensible buyback and burn strategy with the DTC tokens. This is very important because it creates a sink for the tokens. If you think that isn’t important, read up Vitalik himself talking about how important token sinks are. It looks like the DTC team has taken Vitalik’s word seriously and created a token sink.
As the use and utility of DTC increases, so does the fees collected by the network. The DTC team has smart contracts in place that will then buy back and burn these DTC tokens via another smart contract. This means that the supply of DTC is deflating as opposed to inflating or remaining constant. This is a powerful source of return for the investors.
Here’s an infographic that the DTC team helpfully prepared for the public:
As you can probably imagine, as an investor, it is your prime concern as to where the returns will come from. What happens when you buy DTC, especially if you’re not in Russia and not going to use the DTC on the app any time soon? Well, the answer is, you’re holding on to a deflating token, which means it will get scarcer over time. This means if others want the token to participate in the network, then they will need to buy this token from you. This drives up the demand, which is always a good thing when you’re an investor in these tokens. This is a powerful and often underestimated source of return, but since you read Crypto Sailor, we are guessing you do just fine understanding these concepts.
ICO for DTC
Before we proceed any further, take some time to read the DTC Whitepaper. Go ahead, click on the link and then come back to finish the rest of the article. We’ll wait – it’s only 13 pages. Seriously, we strongly encourage you to make your own decision to invest in a token or not, and never do so without reading the whitepaper. This is the basic due-diligence that you need to do as an investor.
Then, fair disclosure – you can lose all your money you put into DTC or any ICO for that matter. So don’t try and invest your lunch money into this.
Now that we have it out of the way, here are some ICO details:
The team has a pre-sale, which is your best bet to get in early and get some discounts if you believe in the team and project. The pre-sale starts on Nov 29, 2017. The main ICO crowdsale is in March 2018, so there’s a healthy bit of room there. However, the pre-sale is capped at 550,000 Euros, so you’ll need to be fast if you want in on that. Otherwise, you can always wait till the main ICO.
The price in the pre-sale is 1 DTC=0.00025 ETH.
Here’s some distribution numbers that you should know:
As you can see, the team is following best practices here and giving a majority of the tokens in the crowdsale at 66% while still keeping a meaningful percentage of the tokens for the team at 20%. This is important because otherwise the team has no incentive to work on the project any more after the raise. However, with 20% of the token supply for the team, they are motivated to increase its value and therefore work on the project seriously.
Bounty for DTC Token
Like all good community driven projects, the DTC team has decided to incorporate a bounty program. It isn’t as generous as some other coins that go up to 2%, but it’s a start. The team has reserved a 1% of the total DTC supply to the bounty participants.
Of the 1% of DTC tokens for the bounty, here is how they are split into different categories:
Not surprisingly, we like that the largest category is their Content Campaign. Of course, blogs like Crypto Sailor are what introduce readers to projects like this, so hope you go check them out!
This is the official bounty thread that you should check out if you’re interested in this.
So if you’re interested in participating in the DTC network, check out both the bounty and investment. Bounty of course means you do more work upfront but then you don’t need to part with any of your precious Ether. On the other hand, you’ll part with something more valuable – your time.
With all those caveats, check out the project and the bounty, and let us know your thoughts in the comments below.