Client Profile

  • The client’s objective was to create an ecosystem which includes their own token and the exchange for the token to be sold and traded on. This client, based out of Lithuania, was developing stable tokens backed by gold for trading. Which means that unlike most cryptocurrencies that have speculative value, a gold-backed tokens value is tied to a tangible asset, which cushions it against severe price fluctuations.
  • The client provides services for users to earn interest and transact using cryptos and provides a crypto wallet for users to store their electronic funds.
  • After years of leading the crypto exchange market, the vision of the client is to enable gold trading by eliminating the middlemen costs from the process of using gold as a means of payment for settlements using Islamic principles.
  • The client is specifically focused on changing the world system in buying, selling and arbitrage trading of gold using a decentralized blockchain network.

Premise

  • We got onto the project when the client was in the early stages of launching their token. This gave us a clean slate to help them end-to-end, not only with the execution but with the strategy as well.
  • The amount that the client would raise through the sales of the token, they intended it to use for various purposes.
  • Broadly, the selling of the token was to take place in three phases, which were:
    • Phase 1 : ICO Sale Phase 1
    • Phase 2 : ICO Sale Phase 2
    • Phase 3 : IEO Pre-Sale
  • Our expertise in making large scale direct selling a smoother and swifter process made us the best people for the client to partner with.

Clients Past Experience

Before engaging with us, the client had a miserable experience working with another vendor. The earlier vendor used a traditional waterfall model to build the IT systems which according to us is not useful for our client’s business model.

Here’s what had transpired:

  • The customer business requirements were handed over to the IT vendor expecting a smooth experience in building a fully built system from scratch.
  • However, what the company observed was that there were no deep interactions with them. Moreover, the status of the project always seemed to be in a blackbox.
  • After 3 months, the project was canceled because the vendor failed to deliver a working system.

Why did this happen?

1.Traditional waterfall Model

Developing the customized IT systems software is a dynamic process and requires constant real - time updates, but the traditional waterfall model was slow to react to the changes.

2.NonPersonalised Approach

when the approach is not personalized and is without close interactions, such mismatch of expectations and project debacles are sure to happen.

Goals

For this new gold-backed token, the objective of the company would seem similar to what the objective of any other token company would be. That is, to be in the top 100 tokens in the world.

However, this goal had to be broken down into smaller and actionable milestones so that we could help the client go from strength to strength and truly become a dominating token in the world.

The actionable goals that company looked to achieve were:

  • Launch tokens within their existing community and do pre-ICO sales to attain initial market capitalization
  • Initial Coin Offering (ICO) launch to further bolster the market capitalization after the few months of focused community building and branding
  • Initial Exchange Offering (IEO), after proper due diligence, to further democratize the process of buying this new gold-backed token.
  • Our expertise in making large scale direct selling a smoother and swifter process made us the best people for the client to partner with.

However, each company wishes to adopt certain strategies which pose unique challenges that are required to be overcome. To achieve the goals that we had collectively laid out with the company had their share of challenges.

Let us understand what these challenges were.

The Challenges

  • This new gold-backed token was truly new to the market. And when you are new to the market there will be systemic challenges that you as a company will need to understand and overcome.
  • This definitely required the client to get handholding from us at most steps to launch their token into the market successfully.
  • For their marketing and direct to customer sales, we collectively took the following strategic decisions which, as envisioned by us, could be the game changer for the client. These decisions were:
  • Not going with traditional methods of sales like hiring dedicated sales people with fixed monthly charges. It is a tedious process involving upfront capital investment to hire and train people.
  • Instead going with independent distributors who promote the overall brand of the company and not just sell tokens. This could be understood as a much deeper engagement than what an affiliate does.
  • These strategic decisions posed a challenge at us to truly get past the conventional forms of marketing of this industry and develop a deep-engagement sales model to skyrocket the sales of this token.

The Solutions

  • In our experience as a MLM solutions company, we knew that a well defined business structure and compensation plan is crucial for ensuring a successful GTM which is driven by the community members and the network.
  • With the growth in the awareness about the token and the expansion of the network, the process of managing the network and paying the network/agents becomes increasingly difficult.
  • There are many types of compensation plans, and not all of them could have been beneficial to the company.
  • The client is specifically focused on changing the world system in buying, selling and arbitrage trading of gold using a decentralized blockchain network.
Therefore, to arrive at the solution, the following steps were taken:

1.To develop the right compensation plan for the network that would promote the token, deep interactions with the company were undertaken.

2.The business goals of the company were to be understood in the long and in the short term so that the MLM solution can be designed in a scalable manner.

3.Further, the solution to be deployed should be user-friendly and should not require a high overhead in terms of time to get started with it.

Therefore, we designed a customized MLM solution for the company to facilitate ICO and Pre-IEO - all of this keeping in mind the tight mission critical deadlines for the company.

The IT Solution had following capabilities:

MLM Compensation Module

  • Define compensation income based on user rank
  • Define compensation income based on user level

Admin & User Management System

  • Role Management
  • KYC Management
  • User mangaement

Finance Management System

  • e-Wallet
  • Multiple online Payment gateway to purchase the tokens
  • Credit Transfer and Withdrawal
  • Deposit and Withdrawal transactions list

Bonus Module

  • Admin to be able to define the annual dividend or bonus for the users who have invested in the ICO
  • Inbuilt business intelligence to validate the dividend payouts as it can’t be greater than the certain % of gross profit
Content Management System (CMS)

  • Multi-language support to go international
  • White Paper Management
  • Testimonial
  • Blog
  • FAQ

ICO Management System

  • Currency and Coin Setup
  • Coin Manager to create own coin
  • Coin Release Module to release the coins in phases
  • Link coin to multiple currencies so buyer can purchase from a list of currencies

accounting System

  • Track each transaction for reconciliation

API System

  • Secure API system to swap the ICO etokens with the smart tokens in smart contract

Other

  • Two factor authentication login
  • Ultra rich Admin and Member Dashboard with KPIs
  • Email & SMS notification

The Implementation

  • As part of the client's goal to build an ecosystem, we implemented an end-to-end IT solution integrated with MLM compensation plans. The solution we implemented has all the features of an effective and modern ICO platform as well as intangible soft features like time-saving, easy scheduling, simple training, and a user-friendly interface.
  • It is worth mentioning here again that the client had a bad experience with another vendor before. Therefore, it's worth noting that there were high hopes from our implementation.
  • When the customer engaged our company to build the IT system, we analyzed what went wrong with the previous vendor.
  • Then with our expertise, we introduced an Agile approach, focusing on close cooperation with the customer, open communication and working in the small increments.
  • The agile approach implemented by us made sure that the process of developing the IT systems was flexible and error free as it involved multiple small iterations with scrutiny at the end of every stage.
  • As expected Global MLM delivered a working system within 1 month
  • The entire project scope was divided into 3 phases and it was implemented simultaneously to meet the tight schedule.

MLM Compensation Design

conducted with the company to understand the compensation goals. We designed a compensation structure considering the company goal, revenue estimate and the legal compliance.

Setting up the ICO system.

Our team worked on war footing to tangibilize their requirements into our system and develop a scalable solution.

Integrating MLM Compensation module with ICO system.

What resulted after this step was a fully functional and scalable ICO launch platform that had all the world class features which a company like theirs would require.

The Outcome

  • The clients objective was to create an ecosystem which includes their own token and the exchange for the token to be sold and traded on. This client, based out of Lithuania, was developing stable tokens backed by gold for trading. Which means that unlike most cryptocurrencies that have speculative value, a gold-backed tokens value is tied to a tangible asset, which cushions it against severe price fluctuations.
  • The client provides services for users to earn interest and transact using cryptos and provides a crypto wallet for users to store their electronic funds.
  • After years of leading the crypto exchange market, the vision of the client is to enable gold trading by eliminating the middlemen costs from the process of using gold as a means of payment for settlements using Islamic principles.
  • The client is specifically focused on changing the world system in buying, selling and arbitrage trading of gold using a decentralized blockchain network.