Topic: 🌐[ANN][PRE-ICO][ICO] MADANA FIRST MAJOR ICO ON LISK. DATA ANALYSIS PLATFORM.🌐 - page 12. (Read 22725 times)

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DISTRIBUTION AND VALUE
INITIAL VALUE

The initial value of the PAX cryptocurrency results from the prices and distributions of MADANA’s token sale. The PAX token
sale structure looks like this:
▶ Pre-Sale
▶ Price: € 0.50 / PAX
▶ Allocation: 15,000,000 PAX token
▶ Bonus allocation: 1,500,000 PAX token
▶ Time period:
▶ Start: September 1st, 2018
▶ End: October 31st, 2018
▶ Time period for whitelisting:
▶ Start: August 1st, 2018
▶ End: October 31st, 2018
▶ Hard cap: € 7,500,000
▶ Main Sale
▶ Price: € 1.00 / PAX
▶ Allocation: 30,000,000 PAX token
▶ Time period: TBA
▶ Time period for whitelisting: TBA
▶ Hard cap: € 30,000,000

Bonus allocation in Pre-Sale

In the PAX Pre-Sale, the cryptocurrencies Bitcoin
(BTC), Ethereum (ETH), and Lisk (LSK) are accepted for
contributions. Anyone who contributes with Lisk (LSK) will
receive a 10% bonus on the acquired PAX. These PAX will be
provided by MADANA out of the Allocation “Partnerships &
System Development”.
Unsold Token
PAX token that are not sold in the PAX Pre-Sale are used for
the Main Sale. All token that are not sold in the Main Sale
will be burned.

DISTRIBUTION OF PAX
There is a total of 100,000,000 PAX token that will be
created. After the Main Sale, the issuance of the PAX token
will begin, and it is set to be not before January 1st, 2019. The
initial distribution of the PAX token is the following:
▶ Investor and Community: 55%
▶ 10% Seed Investors
▶ 15% Pre-Sale
▶ 30% Main Sale
▶ Partnerships & System Development: 15%
▶ Long-Term Stabilization: 15%
▶ Team and Advisors: 15%

Investors and community
The allocation “Investors and Community” is used for the
total token issuance of PAX which includes private seed
investors. These investors negotiated individual deals
with MADANA and helped to bootstrap the company. This
allocation also includes the Pre-Sale as well as the Main Sale
for the community.

Partnerships and System Development
The allocation “Partnerships and System Development“
is retained by MADANA to grow the platform strategically.
This PAX reserve will finance community campaigns,
partnerships, incentive programs, and the Pre-Sale bonus
allocation.
Long-Term Stabilization
This special reserve will be retained by MADANA to
guarantee the long-term financing of MADANA. It will be
locked for two years.

Team and Advisors
The allocation “Team and Advisors” is distributed among
the team and current as well as future advisors. These token
are vested for two years (24 months) and have a quarterly
(3 months) release period with 12.5% of the token. The
vesting starts with the distribution of the PAX token after
the Main Sale.

ALLOCATIONS OF FUNDS

 The PAX token Sale proceeds will be used for the following:
▶ Development and Operations: 65%
▶ Marketing and PR: 20%
▶ Legal: 10%
▶ Security Bounty Program: 5%

Development and Operations
These funds will be used for the operational business of
MADANA such as salaries, development expenditures,
research, rent, and insurances.

Marketing and PR
To expand the growth and image of MADANA in the
future, this allocation will be used to develop a modern and
appealing outward presence and communicate the importance
of MADANA to the target market.

LEGAL
To secure MADANA in every legal situation, these funds will
be spent to ensure compliance in every relevant jurisdiction;
especially Germany and the German Law.

Security Bounty Program
This allocation is reserved to incentivize security
specialists and hackers to communicate critical system
errors and bugs directly with MADANA and help to resolve
them before any damage can occur.

CONCLUSION
The economy of MADANA revolves around the PAX cryptocurrency.
The open platform design will attract participants
from the growing global data market to create an
ecosystem of privacy-preserving data analysis, processing,
and monetization. The system holds key aspects to
increase utility value as well as preserving value for the
PAX cryptocurrency. Governance aspects of the platform,
as well as incentives for the genuine behavior of the participants
and ecosystem balance, are linked to PAX. The
goal of the MADANA ecosystem is to acquire market
share from the global data market and impose a more
privacy-friendly data processing approach than the current
industry standard.

DATA PRODUCER

An edge-case exists in our system that will become more relevant as the network grows. Imagine an analysis buyer who
requests an analysis by only one data producer or dataset. But the requirements the analysis buyer set match multiple data
producers (or datasets) in the network. Which one will MADANA choose for the participation?

(See Tokenomics Paper for graph information here: http://www.madana.io/download/MADANA-Tokenomics-Paper.pdf)

REPUTATION SYSTEM FOR DATA QUALITY

PAX can be utilized as another deposit measure. Data producers are rewarded by an incentive system when they provide
quality datasets. The incentive system allows the data producer to nearly double the revenue from a particular dataset as
compared to a respective lower reputated dataset.

The data producer would need to make a small deposit on every dataset he connects to the MADANA platform. This gives
him a Deposit Factor valuation for this dataset of “1”. There is another factor valuation that is set to “0” initially (Reputation
Factor). These two factors added up (1+0 = 1) create a Value Factor for the dataset of 1 x (price of the dataset).
When the dataset is used in an analysis process, plug-in providers now have an incentive to design and train their algorithms
to check data quality before further proceeding with the analysis. After a dataset has passed through the algorithm, it receives
a mark indicating that it has successfully participated in an analysis. During this process, the algorithm increases the
Reputation Factor logarithmically to 0.5 and then 0.75 and so on, approach a factor of 1. If the dataset is being declined by an
algorithm, its Deposit Factor falls logarithmically 0.5 and then 0.25 and so on approaching zero. Based on the Deposit Factor,
the plug-in provider can claim the reward for separating datasets of low quality from datasets of good quality. Figure 4 - Reputation System based on accepted/declined analyses

(See graph on Tokenomics Paper here: http://www.madana.io/download/MADANA-Tokenomics-Paper.pdf)

In conclusion, datasets that are declined multiple times quickly lose their Value Factor, approaching 0, and making them
worthless (0 x price of the dataset = 0). On the other side datasets that never get declined approach a doubled factor evaluation
(2 x price of the dataset = double the price).
The data producer is not forced to make a deposit, he rather has the chance to work his way up to a normal dataset factor evaluation.
It is possible for him, starting from a value factor of 0 to approaching 1, without making a deposit within a few accepted
analyses. This way, spam or low-quality data remains with a data factor evaluation of 0 to protect the data analysis buyer.
The ecosystems growth will result in many datasets wanting to prove their quality, thus locking up more and more PAX as a
deposit. This reduces the token velocity considerably.

PLUG-IN PROVIDER
To secure proof of ownership, it is considered to implement a plug-in registration fee. This fee is paid by the plug-in provider
to secure his intellectual property (the plug-in) on the MADANA platform. The MADANA Nodes receive the fee as a transaction
fee. With increasing network growth more new plug-ins will be registered as a higher number of plug-ins means
more earnings for the plug-in provider. The development and registration of new plug-ins are considered an investment
for the plug-in provider, so he would rather reinvest in the registration of more plug-ins than liquidating his earnings.
This also increases HT and thus reduces the token velocity.

APE
Distributed Result Validation
One future potential of MADANA is the implementation of a distributed network of APEs. By meeting specific requirements
of software and hardware, volunteering entities can host the analysis process and get PAX token as a reward. An important
question is how MADANA could ensure that the APE returns the correct and desired result which has been requested by
the inquirer. The solution is to validate the signature of the code to be executed. This will ensure that only the desired code
will be executed.

Moreover, it is conceivable to go one step further and execute the analysis process simultaneously on an odd number of
previously validated nodes and then compare the respective results with each other afterward. The described process would
rule out whether an analysis that is faulty for undetermined reasons would be sent back to the requesting entity. Corrupt
APEs could be quickly detected in the network and be marked, which would have a positive effect on the quality of the
analyses. The approach of distributed analysis processing would per se be vulnerable to adoption by a majority of corrupt
APEs, but should be interceptable by the other security measures implemented in the system.
APEs could be regulated by letting them deposit a considerable amount of PAX and putting it at stake. If the APE fails to
deliver the correct processing of the analysis, it would, as a result, lose its deposit to successful APEs. This way, more and
more PAX get locked up as the network grows and the demand for analysis processing rises. To participate in more valuable
analyses (which may require a larger deposit), the APE therefore is assumed to have a constant need in PAX to process more
or more valuable work. This increases the HT in his earnings and thus reduces token velocity

SCALE AND GROWTH

The scaling strategy of MADANA can be portrayed in five steps:
1. MADANA’s strong advisory board connects and partners us with big consultancies.
2. Consultancies act as multiplicators. They bring the MADANA technology to their customers, which are in need of new
data-services amongst their supply chain.
3. This leads to the next step: A pilot project in a B2B sector will be set up, showcasing the feasibility of the MADANA
technology.
4. Highlighting the successful pilot project will open further doors into the B2B sector, enabling the potential to
establish the MADANA technology as the B2B data insight solution.
5. Trickling down from the B2B sector into consumer products and services as data privacy and monetization layer is
the next logical step. The main focus will be on everyday consumer goods, where MADANA could be implemented in
the production process, e.g. telecommunication hardware & software; IoT hardware & software.
Through this scaling approach, MADANA will have built up credentials and working data ecosystems in the B2B sector. In
this realistic path, MADANA acts as a matchmaker between the “old economy world” and the “new decentralized world”


ECONOMY HEALTH

An important metric for the health of the MADANA economy is the amount of PAX held in Exchange wallets. As the
MADANA network grows and the system usage rises, so does the demand of PAX for utility inside the ecosystem.
This will drain the supply of PAX on exchanges (acquisition from analysis buyer, deposit for APE and other as mentioned
above). Therefore, there will be a transition from an initial discounted expected utility value (DEUV = value driven by investment
speculation) of PAX to a current utility value (CUV = value driven by utility and usage today). A high CUV means that
the value of PAX resembles the global data market share MADANA acquires more precisely.

In summary, this means the following: The more data producers, data analysis buyers, plug-in providers and APEs the
ecosystem attracts, the more the PAX cryptocurrency embodies the growing intrinsic value of the MADANA platform.
Because MADANA aims to take market share of the growing global data market, the future equilibrium market
capitalization of PAX will equal approximately the percentage of the market share MADANA acquires.

TOKEN VELOCITY
The described mechanics from above are arbitrary if the token has a high velocity in the means of short holding time in the
wallets of the participants. Let’s visualize the problem in our case:
Token velocity means nothing other than the frequency of transactions resulting in a sell pressure situation for the cryptocurrency.
It is preferred to keep the velocity low to have the demand overweighting the supply on exchanges. Therefore the
HT (Hold Time) of the ecosystem participants who are the primary PAX input forces to exchanges (data producer, plug-in
provider, APE) must increase. In the following, we examine the HT incentives of these participants.

Tokenomics: Governance, Outside Economy, and Usage

GOVERNANCE

The governance aspect of the MADANA ecosystem is
also subject to future development and can turn out in
a different way as described in the following text.
The intention is to design the ecosystem in such a way that
the PAX token holder has the opportunity to vote and agree
on a global data model to ensure consistency across the
whole ecosystem. Thus, the PAX token holder determines
how the data producer has to offer the data to participate.
This is particularly interesting for data producers because
they would then have a democratic way of deciding on the
data model they want to have next in the ecosystem. This
could mean for a data producer that his data is instantly
available for the ecosystem. If the data model is a different
one, he would need to go the extra step of converting it.

OUTSIDE ECONOMY


The outside economies that will influence the MADANA
economy are the following:
▶ Lisk sidechain ecosystem: With Lisk, MADANA
has the unique opportunity to position itself as
the privacy and data monetization integration of
choice for other dApps that will develop on the
Lisk blockchain platform.
▶ Cryptocurrency Market: As the PAX cryptocurrency
is tradeable like nearly every other
cryptocurrency, it will be sold and bought on
different exchanges and over the counter.
▶ Data Market: The MADANA economy will be
influenced by the growth, changes and innovation
of the global data market as our core
product deals with data.

TOKEN USAGE

The usage of PAX can be described pretty simply as mentioned
above. PAX is the only cryptocurrency that executes
the smart contracts on the MADANA platform. It is used as
the main payment vehicle in the ecosystem as well as to
vote on data models.
In the future, however, there could be other utilities such as
the regulation of APEs, the registration of plug-ins, and a
vehicle for reputation systems.

Tokenomics: Participants

PARTICIPANTS

The economy participants and their roles are the following:

▶ Data Producer: Creates and encrypts his data.
Offers data for analysis insights to the data
analysis buyer.
▶ Plug-In Provider: Writes and registers analysis
algorithms and offers them as a plug-in service
to data analysis buyers.
▶ Data Analysis Buyer: Buys the analysis results.
Pays all the necessary participants in the ecosystem
by acquiring and offering PAX for his
requested analysis results.
▶ APE: Executes the data analysis processing.
▶ MADANA Nodes: Maintain the blockchain and
execute smart contracts.
▶ MADANA:
▶ Routes the data to the right destination
▶ Builds and maintains the infrastructure
▶ Development of SDKs and other software
for ecosystem participants
▶ Does research
▶ Offers front-end service for easy and intuitive
entrance into the economy

INCENTIVES

▶ Data Producer: Receives PAX for every time his
data was used in an analysis. However, he continues
to benefit from the protection of his privacy,
as he never gives away the data, but rather lends
it for insight purposes.
▶ Plug-In Provider: Receives PAX and can offer his
plug-in service to a broad pool of interested parties.
▶ Data Analysis Buyer: Can outsource analytics
competence from plug-in providers and
benefits from a modular service through our
plug-in system and open platform design.
GDPR compliance due to the fact that he
does not touch the data itself. Benefits from
innovation through the open, generic and decentralized
pool of information.
▶ APE: Earns PAX.
▶ MADANA Nodes: Collects transaction fees (PAX).
▶ MADANA: Earns a small fee for providing the system
and has PAX holdings.

We are very excited for this program. Fingers crossed we get to serve the MADANA community in more ways in the US and abroad!

Tokenomics: The Economy

THE ECONOMY

The MADANA economy has a distinctive core function:
It combines analysis algorithms (plug-ins) from the plug-in
provider with data provided by data producers. This data is
processed to provide a requested insight (analysis result) for
the data analysis buyer. In this economy, the data producer
creates the data supply and the analysis buyer creates the
demand. Thus it can be assumed that these two ecosystem
participants create the data price by supply and demand.
Further, it is assumed that the prices for the plug-ins are
governed by the competition between the plug-in provider
as it is a service they offer to the data analysis buyer.
The blockchain nodes (MADANA Nodes) that process the
transactions and smart contracts in our ecosystem are
charging transaction fees. This helps to avoid spam transactions
and acts as an incentive for the processing of blocks.
In the future, it is considered that the APE offers processing
power to process the analysis itself and that it gets paid
for this service by the analysis buyer. Again, competitive
pressure will create the price for that processing.
Finally, MADANA provides the infrastructure (front-end,
routing of data to the right destination) and takes a certain
service fee.

All inner processes are either escrowed, executed or paid
with PAX. Therefore, we can sum up the ecosystem parameters
that may influence the PAX price as follows:

▶ Value of Data
▶ Value of plug-in services
▶ Value of processing power
▶ Transaction fees
▶ MADANA service fees

WHY BLOCKCHAIN

MADANA is using the blockchain mainly for trust and transparency
reasons, as well as for distributing payments in
real-time on a micropayment scale. Participants in the ecosystem
are monitored, registered and paid through smart
contracts executed on the blockchain. This creates the trust
and transparency an open market like MADANA requires.
Further governance needs that are planned for MADANA
can be modeled on the blockchain, for example securing
and voting in a global data model everyone agrees upon.
It is considered that in the future the APE’s work can be
regulated and incentivized through smart contracts on
the blockchain. Also, plug-in providers could register the
ownership of their plug-ins on the blockchain.
Decentralized applications have the advantage of being
particularly secure and reliable. Also, data manipulation by
unauthorized persons can be overcome. To eliminate this
single point of failure in the cloud, one of the first goals in
the expansion stages will be to decentralize all modules of
the MADANA Main System as fast as possible.

Tokenomics Part 1: The Problem


PROBLEM

MADANA is tackling the problems of modern digital society
in the means of personal data control and privacy. More
specifically, MADANA addresses the related discrepancy
of fair revenue generation and distribution of the created
data for the data originator (herein called data producer). In
addition, the heavily monopolized data market lacks open
platform alternatives that provide data analysis specialists
(institutional or private, herein called plug-in provider) with
a way to offer and monetize their knowledge to a broader
pool of parties interested in data analysis insights (herein
referred to as data analysis buyer). Generally speaking,
there is no system that allows for insights into data without
giving it away. And certainly, there is no solution for monetizing
the data on micro transaction scale for the originator.

Existing Alternatives

The alternative solutions to the problems mentioned above
are rather restrictive or don’t grasp the root of the problem.
In the means of data privacy and control we have:

▶ Promises of security and privacy from service
providers

▶ Law enforcement (GDPR)

▶ Encryption schemes like VPN, PGP etc. (which
makes data unusable for third parties)
In the means of sovereign data monetization, we are
either fobbed off with free service (Facebook, Google)
or get occasionally a voucher once in a while.

MADANA  WhitePaper
The PAX token

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Take a look at this very in-depth interview of MADANA CEO Christian Junger by Jan Liz-Fonts, former Lisk community manager.

---> https://youtu.be/bpljV8-WxOs

Hey everyone!

Madana is lunching the public pre-sale tomorrow! The following is a press release for the event. I encourage you to familiarize yourself with the white paper and tokenomics paper, as the team is really building something special here. We need to take back our digital YOU. Our privacy has been abused for too long. Join the movement to bring back the power into our hands and control our data. Blockchain has the power to set us free from the bondage we have been in for too long. I am excited about this. Thank you for your support!

Regards,

William Ryan
US Madana Ambassador



https://blog.madana.io/german-blockchain-startup-madana-opens-the-pre-sale-of-their-pax-token-3b153217ab00


Berlin, Germany, August 31, 2018: MADANA, the Market for Data Analysis, is a blockchain platform from Germany which protects your privacy and makes your data work for you. Their patent-pending ecosystem enables privacy-preserving data analysis, which is a major breakthrough in data science. Their PAX token Pre-Sale will officially start on September 1st, 2018 12:00 UTC+2.

MADANA is the first major project using the Lisk Blockchain platform. This marks a milestone in the recent token sale history since most token sales were conducted on the Ethereum Blockchain. Lisk is a non-profit organization, that aims to make the blockchain accessible for everyone. MADANA is the first to take advantage of Lisk and increases the value of its ecosystem in the long term. Therefore, every Pre-Sale contribution in LSK gets a 10% bonus in PAX.

J.-Fabian Wenisch, MADANA Co-Founder and CTO, says: “We are building an open platform to enable anybody to participate in our marketplace for data analysis. By sharing only analysis results and no raw data, data producers always stay in full control of their data. Further, smart contracts create trust between the participants and ensure that an analysis can only be conducted, when every participant gets a fair share for their contribution. Meaning you can monetize your data without actually giving it away. This is great for individuals, but also enables new services and business models in a GDPR-compliant way.”

To enable more people to participate in the Pre-Sale, MADANA set the minimum amount to be purchased to an equivalent of only 100 Euro. Thus, MADANA can reach a higher level of decentralization than projects that allow only bigger investors to take part in the Pre-Sale.

The accepted currencies are BTC, ETH, and LSK. From a fixed maximum of 100 Million token in total, 55% of all PAX token will be distributed to investors and the MADANA community. 15 Million PAX will be sold during the Pre-Sale for 0,50€/PAX token. The main sale will take place in 2019 for a price of 1,00€/PAX token.

Christian Junger, MADANA Co-Founder and CEO, highlights: “We worked hard to run our token sale completely under German law. This has major legal implications but provides additional trust to our investors. We want to build a long-term blockchain company in Germany, that brings privacy back to data producers. To make this happen, we have a dedicated team, work with well-known partners, such as Capgemini, and experienced advisors, such as Max Kordek the founder of Lisk.”

Visit https://www.madana.io for more information and to buy PAX token in MADANAs Pre-Sale. To stay up-to-date, follow them on Twitter, join their Telegram Group and check out their Medium Blog.

Media Contact Information
Julian Schiemann, Head of Marketing
Email: [email protected]

We launched our Ambassador program. Read more details in our newest blog post:

https://blog.madana.io/the-madana-ambassador-program-216b2f1c395f

MADANA is a data analysis platform. Not an industry-specific healthcare blockchain project. Since the healthcare industry, like any other, improves more and more by processing data and generate insights through cross analytics we see our platform having use cases in benefiting and optimizing healthcare.
Check out our white paper to read more about these use cases:
https://www.madana.io/whitepaper

MADANA is coming to South East Asia and is inviting to their events in Singapore, Bangkok, and Saigon. This is the timeline:

Singapore

• August, 28th: MADANA is on the Blockchain Summit Singapore
• August, 29th: MADANA Meetup in Singapore
• Get your free ticket here: https://www.eventbrite.com/e/privacy-night-singapore-tickets-49173863349

Bangkok, Thailand

• August, 31st: MADANA is at Block Hedge Asia
• September, 1st: MADANA Meetup in Bangkok
• Get your free ticket here: https://www.eventbrite.com/e/privacy-night-bangkok-tickets-49175218402

Saigon — Ho Chi Minh City, Vietnam

• September, 5th: MADANA Meetup in Saigon
• Get your free ticket here: https://www.eventbrite.com/e/privacy-night-saigon-tickets-49175723914

Read more here:
https://blog.madana.io/madana-comes-to-asia-the-power-of-blockchain-used-for-privacy-preserving-data-analysis-a4b90cb8b00d