Summary of the First “Ask Me Anything” with Aenco Co-founder Darren Lui
In Aenco, we believe communication is prerequisite to the success of the project. Our co-founder Darren Lui just did the very first “Ask Me Anything” session on our social media channel, answering ANY questions from the community. Here is the summary of the AMA.
1. What is the project about?
The project is about creating a blockchain platform with core focus to drive, deliver and support exciting and “Impactful” healthcare technology projects to the global community.
We believe that health, diseases, medical technologies will remain to be a significant challenge to our next phase of human evolution for the foreseeable future and the global community has already begun to explore using blockchain technologies to accelerate to our goals, as evident by a fledgling but rapidly growing number of medical blockchain projects in the last 12 months.
We also believe that in order to successfully support and deliver such projects, in practice it will also require end-to-end digital financing solutions and an inter-connecting project digital ecosystem in order to deliver a unified, strong and passionate global community from a diverse background to help drive and achieve our above goals.
Aenco is about delivering the above goals — we will deliver our “Innovative” multi-mining and multi-sharding based blockchain to support the healthtech community projects which will also support the launch of our own end-to-end digital financing solutions platform to manage the launch, post market support and ongoing “Integrity” of our sponsored projects.
For details of Aenco’s MVP, please refer to our Whitepaper and website (https://www.aencoin.com) for further details.
2. I do not know the tech aspect that well but it seems like it isn’t a blockchain to serve clinics but rather the tech industry and research aspect of health. Am I right?
Aenco is developing and in the next few weeks, will shortly be announcing the technical paper of our own blockchain which I can already tell you, will involve a number of novel features from, for example, “mining” and “sharding” perspectives. This is needed in order to support our expected diversity in the healthtech projects looking to launch based on our blockchain and integrated with our digital financial solutions platform for the years to come. Our platform will not only support clinics or hospitals in their day to day business processes or more, but will be flexible to support individual designs such as the sharing of research, drug development, healthcare incubation, medical big data and many more aspects of healthtech companies looking to adopt blockchain as the engine of growth. We already have in our pipeline at least four (4) further healthtech token offering projects in the next 15 months to be launched on our platform.
3. The roadmap seems awfully long but I know that’s what is required to make a proper product. Do you see any problems with that since crypto time is seen as really fast? Because I can imagine that impatient people would rather speculate than having a hold principle. Will there be rewards underway for long time holders?
It is critical that we deliver you the right platform and right applications to support our communal goals. We are working hard to deliver our blockchain, the first generation smart wallet and our first sponsored token offering project within the first six (6) months post ICO launch. Our core belief is to continue to reward our existing token holders for their ongoing participation on our project, through for
example, a “proof of stake” concept based (i) token leasing and mining of our blockchain, (ii) rewards through our smart wallet for community voting, forum contribution and support of novel projects (etc), (iii) depending on existing token holder stake, proportional pre-emptive rights and early participation in our sponsored token offering projects (etc etc). Long term holders will continue to be rewarded through our smart wallet.
4. Any existing partners that are official yet? Who are your strategic partners?
We are launching an ICO of our AEN tokens — to fuel the growth of our blockchain development, reward community and all activities on our platform. We have already established partnerships with a number of biotech companies interested in launching their offerings through our platform and a number VC funds (e.g. TVM China).
A number of our upcoming sponsored ICO projects will be further disclosed and we also working closely with a number of academic institutions. We are shortly announcing further partnership tie ups, please stay tune!
5. Are there any exchanges confirmed yet?
We have agreed in principle with at least two (2) exchanges (one of which is a top 20 exchange) to support our post ICO liquidity immediately, subject to non-disclosure at the moment. We will announce this prior to the ICO crowdsale!
6. How about the presale and crowdsale schedule? How much do you need to invest for the pre ICO? 10k? 100k?
The AEN token will be priced at USD 0.1 per. The Pre-Sale will commence on the 27 July 2018 with a minimum subscription of 1 ETH or equivalent. There is an attractive bonus of up to 50% subject to contributing beyond a threshold and a FOMO of +5% in the first 24 hours of the Pre-ICO.
Our ICO crowdsale will commence in September 2018 and will be followed by the listing of our token within a few days of the closing of the ICO crowdsale expected to be in October 2018.
All our token economy can be found on our website (Token Economy Paper) or in the following link (https://www.aencoin.com/assets/docs/aenco-token-economics.pdf).
7. Is there a bounty program and when?
Yes, we have a bounty program! It was launched on 21 June but was all filled up within 24 hours!! (https://twitter.com/aencoin/status/1010031094580707328)
Not to worry however. We will be announcing further bounty prior to the Pre-ICO sale in July. Please stay tune on our social media platforms for further announcements!
There is also an AEN 50 reward for all personnel who have successfully registered and KYC-ed on our website (https://www.aencoin.com)!
8. Does our smart contract allow our tokens be traded immediately? Any block numbers do we put on there for trading?
You can register and subscribe through our website (https://www.aencoin.com), where you can login to our dashboard to see the allocation of your AEN tokens. The actual release of the AEN tokens will be upon (i) ICO close date (within 5 business days), and (ii) for private sale and pre-ico contributors, 50% will be released as per (i) and remaining 50% upon expiry of lock up (3 months post ICO close date). Once the tokens have been released in (i) or (ii) above, it will be immediately available for transfer and sale on the relevant exchange(s) where the AEN token is listed — please stay tune for further announcements of the exchange. We do not intend to implement any block number system or similar trading restrictions.
9. Which distributed consensus will your blockchain use and why?
We are using a Delegated Proof of Stake (DPOS), this is because we are doing a targeted execution, this targeted execution allows researchers, academics and others to be able to make use of the shared computing power, in other Blockchain modals, a smart contract is run the same everywhere and they all produce the same answer, this is a waste, and is the core of the consensus in a traditional blockchain approach, in proof of stake, you trust the execution based on the stakeholder, and use a validator to check, in DPOS, we can target to delegates with the cost of stake to protect the network. In addition it allows Group Sharding, where different groups have specific use cases but sharing the same core ledger.
10. What will happen to the unsold tokens?
The unsold tokens will be retained for future offerings or allocated to the mining pool. Currently, approximately, c. 29% of the total supply will be retained for offerings + bonuses, 21% will be retained by our Company and its founders and remaining c. 50% is retained for mining purposes.
All our token economy can be found on our website (Token Economy Paper) or in the following link (https://www.aencoin.com/assets/docs/aenco-token-economics.pdf).
11. Can you give us a hint on how it will really work the healthcare and financial solutions? What are your plan so far for this to become a worth to invest project?
The AEN token will be fuelling our blockchain and our digital financing solutions platform (see my answers above regarding mining) for our healthtech projects. Its value will be driven off by many factors, including (but not limited to) transactional demand as well as mining demand (based on a proof of stake concept) and amongst many other multi-disciplinary demand factors (such as early sponsoring) from our healthtech partners and community. The AEN will be the main token of choice to participate in our blockchain and platform and medium of exchange for new token offerings sponsored under our platform for those who share the same passion as us (e.g. pre-emptive rights to participate in all our sponsored offerings); and we will continue to deliver rewards to our AEN Token holders depending on their stake as well as participators / contributors on our platform.
12. Are you planning to construct a network of all doctors and patients? Will you also add any hospitals to your platform? From which countries?
Yes! We are constantly in search and expand our medical network, including (but not limited to) clinics, hospitals and medical academic institutions. For example, some of our advisers have come from a medical background and university hospitals. This is a core strength of Aenco and will continue to grow as we develop user base and development collaborators for our blockchain and solutions platform. For example, I also recently met an individual who came to our booth at the BAIconf 2018 in London in June whose family operates a chain of hospitals in SE Asia and is interested in adopting blockchain in their businesses!!
13. What premium features can I get if I join the project now?
Early participation will enjoy special bonuses (up to 60% at private sale, and up to 50% at Pre-ICO + 5% FOMO)! There is also a free AEN 50 bounty for those who complete registration and KYC on our website!
You can also participate in our bounty schemes — please stay tune!
14. When will you deliver your MVP (minimum viable product)?
We are working hard to deliver our blockchain, the first generation smart wallet and our first sponsored token offering project within the first six (6) months post ICO launch. Our IB Solutions platform will be rolled out over phases in the course of 2018–2019 and we will continue to keep our community posted along the way. Please see our roadmap in our Whitepaper on our website.
15. How many exchanges are you planning to list on?
We currently have agreed in principal for listing on at least 2 ICO exchanges, one of which is a top 20 exchange by volume. We are constantly increasing our exchange listings for AEN with a target of at least 7 exchanges towards end of 2018.
Thank you again for your support. We look forward to the next AMA with our community!
