The decentralised media platform powered by Blockchain Technology to create an unbiased ecosystem. Refine Medium ICO rating – 65
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PRE ICO Dates : 25/06/19 – 15/07/19
Roadmap: 6/10 Legal: 2/5 ICO terms: 3/5
Team: 14/20 Token applying: 3/5 Promotion: 14/20
About Refine Medium ICO (token sale)
Refine Medium ICO is a decentralised video platform rendering authentic and high quality video content. It is built upon blockchain technology designed to enable viewers, creators and innovators of the platform to connect via smart contracts.
Refine Medium ICO is a one-of-its-kind platform that will incorporate complete transparency, upright compensation for its creators at the same time rewarding users to review videos, no geographical barriers, easily discoverable and accessible content, consequential reduction in content piracy and notably low subscription fees for its users. The Refine token is a cryptographic asset that will be vended in the nascent stages of the Refine Medium ICO maturation journey. The token will be snapped up by those who desire to demarcate their stake in the Refine Medium ecosystem and have a stern belief in the decentralised future of the blockchain based-online video industry. Refine Medium ICO is a perfect blend of corporate conscience, technical finesse and unparalleled entertainment. With a clear mission and the tools to execute the same in its arsenal, Refine Medium aspires to develop “People’s Own Media” platform powered by blockchain technology and propelled by a robust cryptocurrency designed for mass adoption.
The Smart Contract
Refine Medium has a comprehensive smart contract for its Initial Token Offering and the Decentralised App. The smart contract for the token, ICO and Dapp are all inter-related and work in harmony.
Unlike any other ICO, Refine Medium has a very attractive referral system which rewards the investors a percentage of investment made by the investors they refer. The payout here is instantaneous which means as soon as the investor sends ether to our smart contract, the reward for referee is distributed in the same transaction and all of this will be visible in the respective blockchain explorers (etherscan.io) in order to maintain 100 % transparency. Not only this, the referral system is stretched upto two levels. Let us try to understand this with the help of an example, say user A refers user B and user B refers user C. In this case if user B invests 10 ether, user A will get 1 ether as a reward (10 %) and if user C invests 10 ether, user B and user A both will get 1 ether each as reward instantly. This provides an earning opportunity for investment pools and users with contacts in the crypto industry. Therefore, if any of our affiliates bring us a whale who invests a million USD in our project, the affiliate gets 100,000 USD as a reward in ETH.
In order to maintain the value over long term we have token burn functionality embedded in our contract. We will announce our token burn parties time to time and all the unused tokens will be burned making sure that the value of our token goes up and up in long term. The smart contract has been engineered in a way that it will be integrated in the DApp too. On liking, uploading and sharing the videos over our DApp, Refine Medium ICO tokens will be rewarded to the user from the smart contract. In case the platform runs out of tokens in future, the smart contract will automatically generate new tokens (upto 300m in addition to the premined 300m tokens) and use these tokens to maintain the economy. During nascent stages of our ICO, we will not be transferring tokens to the users, in order to prevent dumping of tokens during the initial days of listing on exchanges. The tokens of team and seed investors will also be locked for a certain time duration for the same reason. This locking mechanism has been taken care of by the Refine Medium smart contract itself. Refine Medium ICO smart contract has a dynamic pricing system in which the price changes every second linearly. We will have multiple rounds of ICO (presale, main sale, airdrop period) with different number of tokens allocated and different initial and final prices. In order to match with the fluctuating price of ethereum, we have parameterized price factor in the smart contract which helps us change the price of token during ICO on the fly.