FoodNation ICO (FOOD)
Blockchain based food delivery marketplace
Start Date
21 Sep, 2018
End Date
30 Jun, 2019
FoodNation Score Analysis
FoodNation is constructing a food delivery service on the blockchain - a thriving industry with many current competitors, and whilst these were discussed with competitive advantages in mind, there is little analysis of decentralized competitors. The team is entirely anonymous, and there are only two members listed onsite. They have created avatars and social media pages to conceal the original team members, but thus we cannot confirm team experience or the product’s realizability as a whole. The project appears to be in development stages, with ‘Live Operation’ scheduled for 2019. In terms of technological issues, the project is stated as open source, but their github is quite inactive with few commits. FoodNation’s marketing efforts have been lacklustre, with a low response from the crypto community. We found other red flags in analysis - a lack of kyc process and consideration for regulation. There was also no legal entity disclosed, nor a founder. The whitepaper additionally had several spelling mistakes and several key portions were confusingly written.
FoodNation Use of Token
FOOD is FoodNation's native token. FOOD is an Ethereum based ERC223 token. 350 million FOOD token will be offered for sale via the ICO, which correspond to 35% of the total token supply. FOOD tokens will be the main currency used for transactions across the platform. Users who hold more than 1000 FOOD tokens in their wallets will receive FNZEN chips which enable them to vote on the future development decisions of the platform. Restaurants will accept FOOD tokens in exchange of discounts.
Organization
FoodNation
Platform
Ethereum
Coin type
Utility Token
Category
E-Commerce
Soft cap
100,000
Max cap
25,000,000
Max supply
1,000,000,000 FOOD
Price
0.10
FoodNation Token Sale Stages
- Stage
- Start date
- End date
- Amount of Tokens
- Price
- Discount
- Pre-Sale
- 21 September, 2019
- 20 October, 2019
- 10,000,000 FOOD
- 0.01
- 90
- Claim
- Pre-Sale
- 21 October, 2019
- 20 November, 2019
- 15,000,000 FOOD
- 0.02
- 80
- Claim
- Pre-Sale
- 21 November, 2019
- 20 December, 2019
- 25,000,000 FOOD
- 0.03
- 70
- Claim
- Public Sale
- 01 April, 2019
- 14 April, 2019
- 30,000,000 FOOD
- 0.05
- 50
- Claim
- Public Sale
- 15 April, 2019
- 30 April, 2019
- 40,000,000 FOOD
- 0.06
- 40
- Claim
- Public Sale
- 01 May, 2019
- 14 May, 2019
- 50,000,000 FOOD
- 0.07
- 30
- Claim
- Public Sale
- 15 May, 2019
- 31 May, 2019
- 55,000,000 FOOD
- 0.08
- 20
- Claim
- Public Sale
- 01 June, 2019
- 14 June, 2019
- 60,000,000 FOOD
- 0.09
- 10
- Claim
- Public Sale
- 15 June, 2019
- 30 June, 2019
- 65,000,000 FOOD
- 0.1
- Claim
FoodNation Distribution
FoodNation Use of Proceeds
FoodNation Past Events
- 31 March, 2019
Market research; Business model development; Brand and concept; White Paper conception
- 30 June, 2019
Client application flow; Institutional site; Investor disclosure
- 30 September, 2019
Start the token pre-sales; Telegram community; Client application alpha version; Restaurant application flow
- 31 December, 2019
Finish the token pre-sales; Client application beta version; Restaurant application alpha version; Community-only tests; Disclosure for sellers
- 31 March, 2019
Start the token sales; Restaurant application beta version; Client application 1.x version; Pilot in city to be defined
- 30 June, 2019
Finish the token sales; Relevant exchange listing; Community alpha version; Mainet Switch; Live operation in up to 10 cities
- 30 September, 2019
Anti-fraud mechanisms (validators); Restaurant application 1.x version; Community beta version; Live operation in up to 20 cities; Decentralized search beta version
- 31 December, 2019
Community 1.x version; Rating restaurant feature; Partnership with exchange for transparent payment (credit card); Chat bot (Whatsapp, Messenger, WeChat, Telegram, etc); Live operation in up to 50 cities
- 31 March, 2019
Decentralized search 1.x version; Important digital influencers on board; FoodNation world celebrity on board; Live operation in up to 100 cities
- 30 June, 2019
Integration with delivery platform; Restaurant promotional control; Live operation in up to 250 cities
- 30 September, 2019
FoodNation payment on store; Community take on 100% management control; Live operation in up to 500 cities
- 31 December, 2019
Recommendation plates and restaurants Community take on 100% development control Live operation in up to 1000 cities