Adel, a global cryptocurrency, community-based project funded platform, is aiming to create a decentralized and self-sustaining macroeconomic ecosystem for Blockchain innovation. As a self-regulating Blockchain startup incubator, which functions with the Adelphoi token, its goal is to become a global leader in community-based crowdfunding exercise, which it's currently undergoing through its own Initial Coin Offering (ICO), which began in March.
Aimed at supporting and funding the development of Blockchain projects, Adel will utilize an ecosystem based on the Nxt community platform. After researching the digital currency market, Adel chose Nxt's Blockchain-as-a-Service (BaaS) platform due to the features it presents that Adel can employ for its community. Adel will also use Nxt's Ardor, which has further features that Adel will use for its project portfolio.
Three phases of the Adel ecosystem
According to one of Adel's white papers, its ecosystem is relatively independent of governments, international or domestic politics in addition to fiat economies. By leveraging Nxt and Ardor's Blockchain technology, the Adel ecosystem has been created to introduce the latest security features while adopting best practices in business services. By building a company on top of the Blockchain technology, Adel aims to demonstrate innovation that is both sustainable and profitable for various industries such as IT, banking (fintech), insurance, humanitarian and healthcare initiatives.
In order to achieve this, there are three phases to the Adel ecosystem. Phase one is to create a community portion of the ecosystem by creating the Account Module of the community portal and includes the first ICO round. Upon the completion of the first ICO, phase two will commence, which will focus on the development of the community portal. This includes the forum, voting, project dashboard and trading modules. Phase three deals with the operation and management of the projects, which facilitates their movements into successful solutions.
Created to provide a trusted, community-driven platform that promotes Blockchain innovation, Adel aims to fill a gap in the market that serves investors by connecting venture capital with social media, providing a decentralized alternative to traditional venture capital funding and angel investments.
Members and submitting projects
When it comes to how participation takes place, those who invest more than one Bitcoin in the ICO will be invited to the Adel community and known as members. It is within this community that members have complete voting power based on their ICO contribution.
However, instead of harming the Adel community, it's thought that membership will provide stakeholders with a level of exclusivity giving them access to information that is not readily available to the general public. For instance a project's status, that protects stakeholders and the projects that interest them.
When a community member submits their project idea, they become an Innovator. The Board essentially acts as the community's overseer to make sure that all projects submitted by the innovator adhere to ethical, legal and moral guidelines. Once approved, then it is the responsibility of the Innovator to work with the Project Review Committee and the community to ensure they have a complete business plan. The collective intelligence and participation from a diverse community with different business, cultural, and regional backgrounds, will help to solidify the project plan and establish the foundations for successful project execution.
Once an Innovator's business plan is nearing completion, it then goes to a community vote. If the community agrees by a majority, it then becomes a Community Innovator Project.
If, however, it fails to receive a majority vote, then the minority members who liked the project could join together and raise the capital for the project. In this case, it becomes a Group Innovator Project.
Across three ICOs, Adel intends to release a total of 100 million non-mineable Adelphoi (ADL) units with the first ICO already underway, releasing the first 33,333,333 ADL coins. It's due to end May 31. The current bonus round is 15 percent, meaning that participants receive 15 percent more ADL in their wallet at the end of the ICO, if they contribute before May 11th. On May 12th the bonus will reduce to 10 percent and then to five percent on May 19th. More ADL coins also mean a proportional increase in voting power.
Only members who have contributed more than one Bitcoin will be invited to the community and after the ICO the minimum to join the community will increase to two Bitcoins. At the end of the ICO, the value of Adelphoi will be established, which will be based on the amount of Bitcoin contributions from stakeholders.
Importantly, though, it is the vote from Adel's members who will be the deciding factor as to which projects get launched. By basing its foundation on Nxt and Ardor features, the Adel ecosystem can develop projects that are effective for the community, taking full advantage of the Blockchain features as they evolve.
Adel is the first Blockchain ICO to offer this type of incubator for Blockchain innovation. On this basis alone, Adel’s Ecosystem vision and ambitions make it the most overlooked ICO at the moment. They offer a unique platform that offers idea creation, job opportunities and a learning platform for entrepreneurs who want to build great projects. They are also the first ICO to be AML/CTF/KYC compliant. Thus opening their doors to mainstream investors who see the cutting-edge opportunities that Blockchain can have for the future of the world and invest in a project that could potentially change the world.