Vantage Network, a contribution tracking platform holding an ICO this summer is seeking to bring transparency to giving and donations. It enables donors to keep track of their contributions and see how they are being spent “to the last coin.”
This creates a win-win-win scenario as the donor can keep track of how their money is being spent, nonprofits get more donations and the recipients get the donations they were meant to receive.
Vantage Tokens (XVT) are a key component of the Vantage Network. A small percentage of every donation made via the Vantage Network is converted into XVT, which is utilized inside the platform to track how fundraising organizations spend the donations they receive. See more details in the Vantage Network whitepaper.
Salient Features of the Vantage Network
- Contributors do not need to possess a technical understanding of cryptocurrencies or blockchain. They can make contributions through credit cards.
- Non-profits get the payment on their Vantage account and spend the money using Vantage Mobile Pay app. Users that have been approved by the fundraising entities are the ones that can access the Mobile app and use it at the point of sale. Two-factor authentication is required to access the funds. All transactions that take place on the Mobile Payment application are recorded on the blockchain ledger and receipt images are stored using IPFS technology- IPFS is a P2P network that connects multiple remote servers in a single decentralized platform. The transactions on the mobile app are GPS enabled and are also associated with a unique user ID and donor contribution.
- There is a portal that gives contributors a chance to view at a glance how their contributions are being spent. The portal creates a report that gives a summary of how contributions have been used. The portal also allows for auditors to gain access to the public records that have been stored on the blockchain.
- For the fundraisers, the network will provide you with a code snippet that will act as your Vantage donation point. You can insert this code snippet on your website or on social media. Donors can click on this code and make contributions. These contributions will be assigned unique IDs.
- The network is powered by smart contracts that will be used for creating unique contributor IDs, recording transaction fees, recording contributions made by the donors and storing receipts. Storage of data such as images will be done on a customized system (IPFS) that will provide faster access to this data.
- The Network also uses Vantage Network API to connect the mobile payment systems and web portals with the vantage network
The public crowd sale begins on August 1st.
- Currencies accepted: BTC & ETH
- Min Contribution: .05 ETH
- Tokens available for private sale: 40,000,000 XVT
- Tokens available for public sale: 70,000,000 XVT
- Hard cap for public sale: 35,000 ETH
- Public Sale Price: 1 ETH= 2000 ETH
- Public Sale Bonus Schedule (Dates set by UTC Time Zone):
– 20% Week 1 (Aug 1 – Aug 7)
– 10% Week 2 (Aug 8 – Aug 14)
– 5% Week 3 (Aug 15 – Aug 21)