VLUX ICO

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VLUX

VLUX is a decentralized blockchain based subsidiary of a brand named as VURV. It intends to revolutionize the way energy was generated.

Details

ICO Name VLUX
Description VLUX is a decentralized blockchain based subsidiary of a brand named as VURV. It intends to revolutionize the way energy was generated.
Website URL https://vlux.io/
White Paper URL https://vlux.io/Vlux_Whitepaper_016.pdf
ICO Launch 2018/05/28 05:00
ICO Closing 2018/06/28 03:00
Token Platform ETH (ERC20)
Funding Cap 25 Million GBP

What Is VLUX?

VLUX is a decentralized blockchain based subsidiary of a brand named as VURV. It intends to revolutionize the way energy was generated. The platform strives hard to bring innovations to ensure sustainable energy future. It focuses on four critical factors including provisioning of energy stores at domestic level, accessing granular information, compatibility maintaining with grid incumbents, and energy trading via safe and secure medium such as blockchain. The platform is looking to provide people a peer to peer energy trading platform by making the current electric system more democratize. The platform is trying to develop a mechanism through which household will be able to sell their excess energy from their home batteries or solar PVs in an open marketplace.

Concept

VLUX is a blockchain based decentralized energy trading platform that intends to bring innovation to the current electric system by incorporating blockchain and smart contracts technology. People will be able to trade energy following low-cost transactions. The platform is striving hard to utilize market incentives in a right manner to ensure sustainable infrastructure evolution. The platform believes that in order to keep the demand and supply of energy in equilibrium, lost cost transactions are vital since they support grid-edge trading.

How Does VLUX Work?

As mentioned earlier, VLUX is a decentralized energy trading platform that incorporates smart contracts and blockchain technology to ensure the viability and sustainability of green energy infrastructure. The platform aims to enable its consumers to sell their excess energy top their neighborhoods at relatively low cost. This will not only help people selling their excess energy to others in generating revenue but will also benefit people by reducing their electricity bills. The platform is empowered by ERC20 tokens.

Earn VLUX Tokens

To earn VLUX tokens people need to participate in the crowd sale of the ICO. Those who wish to earn VLUX tokens may get themselves registered on the whitelist of the ICO. Please note that only those people will be able to contribute to the ICO to earn VLUX tokens who are registered with the ICO. However, people from restricted states such as China may not be able to earn VLUX tokens in any case.

Buy VLUX Tokens With E-Wallets

As mentioned earlier, VLUX is powered by ERC20 standard tokens. We now would like to let you know that the only accepted form of payment at VLUX is ethereum,. People who wish to buy VLUX tokens need to send ethereum to the platform. This can be done using their e-wallets. People can also buy VLUX tokens from different exchanges all across the globe in exchange for other digital currencies.

The ICO Distribution

The ICO plans to hold its token sale on May 28, 2018. The ICO is likely to last for about a month. It will end on June 28, 2018. The information concerning total token supply has not been shared by the ICO. The ICO plans to observe a hard capping of 25 Million GBP. The best part of the ICO is that it even allows small investors to be a part of the ICO. There is no minimum subscription requirement in place. However, only small number of the unwise transactions may be treated as an exception and shall not be allowed to contribute. The starting price of the ICO is also not known yet.

Tokens Distribution

The ICO plans to distribute its tokens under the following proportion;

  • 70% tokens are planned to be distributed to the public during the pre-sale and main sale of the ICO
  • 20% tokens are planned to be distributed to the company’s team members and advisors
  • 10% tokens are planned to be separated as reserve funds by the ICO

Funds Allocation

The platform plans to allocate its funds generated through the ICO under the following proportion;

  • 47% funds are planned to be allocated to the engineering, research & development, and software department of the ICO
  • 08% funds are planned to be allocated to the legal affairs department of the ICO
  • 10% funds are planned to be allocated to the Subsided VHHs of the ICO
  • 21% funds are planned to be allocated to the Customer Acquisition and Education program by the ICO
  • 09% funds are planned to be allocated to the routine business operations department of the ICO
  • 05% funds are planned to be allocated to the contingencies department of the ICO

Bonus Offers

The ICO also plans to offer bonuses to its early contributors. However, the exact percentage of the bonus to be offered by the ICO is not known yet. As per the information available on the official website of the ICO, the ICO will only be offering its bonuses to those subscribing the ICO tokens on the first day of its launch. Although, this approach is not common amongst most of the ICOs, however, this is the way it works with VLUX.

Team Members

The ICO has following team members;

  1. Peter Davies is the CEO of the Company
  2. Conrad Spiteri is the CTO at VLUX
  3. Bobby Watkins is the CCO at VLUX
  4. Steve Foster is the CFO at VLUX
  5. Maria McKavanagh is the COO at VLUX
  6. Andrei Baloiu is the Lead Blockchain Developer at VLUX
  7. Jonathan Dennis is the Team Lead for Disaggregation at VLUX
  8. Lionel Ward is the Deep Learning Specialist at VLUX
  9. Matt Mottram is the Team Lead Machine Learning at VLUX
  10. Yi Jean Chow is the Blockchain Product Manager at VLUX
  11. Gavriel Landau is also the Blockchain Project Manager at VLUX
  12. Anas Almharat is the Blockchain Data Scientist at VLUX
  13. Sam Fiddis is the Blockchain Developer at VLUX

Invest In VLUX

After a careful review of the ICO, we hereby conclude that VLUX sounds to be a reliable investment opportunity for investors wishing to invest in the energy sector. The platform intends to democratize the energy system by empowering people to sell their excess energy to other people and save themselves extra cost. It will also help masses to access green energy at reduced billing rates. We believe, the ICO has a strong potential to become successful, therefore, we suggest people should invest in VLUX with full confidence.

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