Before starting with the Moonlight ICO review, to put things into perspective, I would say that what is fascinating about Blockchain Technologies is that a lot of existing business processes and models and ideas can be redeveloped and restructured without doing much with the core concepts. That is to say that a number of similar ideas developed with the help of blockchain technology or otherwise which offer same features and functionality differ radically from each other for greater transparency, enhanced security, and hassle free transaction processing along with other advantages that can be attributed to the Blockchain technology in general. So, it is not always about doing something different but doing something differently is often as good. While the Moonlight ICO project claims to be redefining employment, scanning through their white paper and after listening to several informed opinions and discussions here’s our Moonlight ICO review where we let you know how defined is their claim of “redefining employment.”
Blockchain-based decentralized ecosystem to bring Employees/Contractors and Employers together
Moonlight’s concept is simple and it is to create a decentralized platform to bring Contractors/employees and employers together. The decentralization allows for greater transparency and hence making it easier for both the employers and employees to find the right match and get into a meaningful engagement. You can think of moonlight as something that is based on the concepts of gig economy with more features. For employers who are referred to as “Issuers” on the moonlight platform, it will be easier to find the right match as it allows them to create tasks and identify skills that are required for completion. Additionally, issuers may assign a level of competency to the skill to further define desired qualifications. Like the required skills, segments of the task definition may also be censored from public view. They also have a matchmaking algorithm which is built into the Smart Contract to provide resolvers (employees) with task recommendations based on skill set. Moreover, the resolvers and issuers both will have a traditional resume as well as a trustless resume to facilitate the matchmaking process. “Each task resolved in Moonlight is published to the blockchain to build up an organization’s trustless resume. Task completion information is structured for use in the system applications and is considered a cleaner dataset than conventional resumes due to its means of nucleation.”
Revenue & Scalability
Moonlight Project will be generating revenue by Remittance, Platform contracts and by offering their platform as a service. There will be a charge upon the completion of the projects which is proportional to the value of the transaction. Moreover, the fee charged will also depend on the currency used for transaction and this will be on top of the fee charged upon completion of the project, or in between remittances.
The moonlight platform will also provide additional features and subscription products for active contributors which will come at a cost. Further, the project identifies several scalability issues and has well-researched measures like ensuring the credibility of the platform by avoiding any scope for resume manipulation or peer reviews. Implementing a series of fraud detection algorithms and also to make sure they grow with the user base and gain their confidence they will be allocating funds to projects to “subsidize the use of the platform during product infancy”.
Moonlight team
Moonlight project has a strong technical team of talented and experienced experts with most of the developers from City of Zion which is a renowned name associated with the Neo Blockchain network. Some notable names in the team are Alang Fong, Tyler B. Adams, Chris Birmingham and Michael De Val. While they are all co-founders of the City of Zion, they are together in the Moonlight project as well. The advisors, Nathaniel Walpole, Chris Dienes, and Ethan fast are highly experienced and qualified professionals. Chris Dienes is an expert data scientist with a P.H.D in statistics. Ethan fast has his P.H.D in computer science from the prestigious Stanford University and is also the creator of the famous Neon wallet.
Lux Token
Moonlight’s Lux Token is developed on the Neo blockchain network. Lux token holders will be earning GAS in proportion to their token holdings. This would again be proportional to the fees collected by the Moonlight project. Also, it is important to note that LUX will work as a utility token on the platform and the fees charged on the platform will be considerably lesser for those using the Lux token.
Token Supply and ICO
The total number of Lux tokens that will be mined is 1 Billion. They have made it clear that no additional tokens will be minted for use on the platform. 30% of the total 1 Billion token will go towards immediate project growth and the remaining 20% towards vested project growth. The allocation made towards the vested project growth will be locked for a period of 24 months.
A 25% each of the total token supplied will be available for ICO presale and their main ICO token sale. While the registration for ICO presale is already closed the remaining 25% will be available for the main ICO. Here it is important to note that the Moonlight’s ICO presale hasn’t been throwing any bonus during their pre sale to dissuade “exploitative investing habits.” The price of Lux tokens during the ICO will be as mentioned in the figure below:
Advantages
- Very strong technical team — The moonlight project has a very strong technical team with relevant industry experience and proven expertise. The team is same as that of City of Zion which is already known and successful. Also, their board of Advisors boasts of some very talented and established professionals.
- Partners like the City of Zion — The moonlight project already has few partners amongst which the prominent and established name is “City of Zion”. The other partners like VDT network, Thor and nOS are yet in their development stage.
- Clear Use Case and huge growth potential — The idea to bring employees and employers together on a decentralized platform has immense growth potentials. Also, the market is flexible and big.
- Defined revenue streams — They have very clear revenue models detailed in their whitepaper. The token holders will also be benefiting and that makes this project lucrative.
Concerns
- Competition — Since the idea is not unique except for the fact that Moonlight is making use of Blockchain technology and developing a decentralized platform there are big market players catering to similar business requirements.
- Plan for acquisition — While the white paper details everything for some reason they haven’t really explained or touched how they would be acquiring members for their platform. This is something that should have been addressed.
The Verdict
“Redefining employment” is not being attempted for the first time and there are existing ecosystems that are already working successfully towards the same. This means a lot of competition ahead for Moonlight project intangible business terms. However, the best part is they have worked very well on the basics and the detailed white paper gives you an idea how meticulously they have planned to develop this entire decentralized ecosystem. Though Moonlight has delayed in launching their pre-ICO which has subsequently delayed the main ICO, the project has good prospects. It is definitely not going to be an overnight hit but the LUX tokens will always provide some value to its owners and one can consider this ICO if looking for a long-term investment at least for 2 years which is also the locking period for the tokens reserved for vested projects.
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