Prometeus Network is a secure and decentralized ecosystem designed to solve real-world problems in data brokerage, created for the Influencer Marketing, Medical and Insurance data market industries. Prometeus Network is developed by Prometeus Labs. A company existing out of data scientists and entrepreneurs who have been working for more than 15 years on machine learning, business development and marketing.
Problems & Solutions
The real owners and producers of personal data get no financial reward for their data and are often treated like an asset rather than a real persons. Furthermore, raw data is of little interest for any data buyer, for data to have value it must beforehand be enhanced by machine learning experts and only then it has value for any end user.
- User not a number
- User data is scattered over a number of different platforms and is being sold without any reward for the data owner. Access to the user data is limited to the major players (FB, Google, Apple, etc) and is therefore further limiting opportunities for start-ups and their AI technologies.
- Access and Quality
- Raw data has low value. It must be enriched by AI beforehand. Currently, there is a lack of legitimate ways on how to purchase this valuable data, resulting into analytists sourcing their data from “black markets” which have questionable origins and often supply low quality of data.
- Regulation Limbo
- GDPR and the Facebook–Cambridge Analytica data scandal drives social media platforms towards limiting the use of their data by cutting the API down, making them almost complete uselessness. However, now the real data owners finally are able to get access to their data thanks to these regulations.
Prometeus team has designed a secure and decentralized ecosystem for people-owned data markets which overcomes current real-world barriers and serves as an infrastructure for gathering, validating, processing, enriching, and selling people-owned data.
Features & Highlights
- System designed to solve particular problems of growing markets with real clients and high demand.
- Censorship-resistant, trustworthy data storage with fair access for everyone.
- Working system of incentives to network members for providing and updating the data and inviting new members to the network.
- Direct reward for data owners for every access to their data.
- Encryption mechanism for secure storage of people-owned data and transaction settlement.
- GDPR compliant system.
Token Sale & Economics
- Project website: https://prometeus.io/
- Project whitepaper: https://prometeus.io/whitepaper.pdf
- Token sale start time: Jun 2019
- Ticker: PROM
- Token type: ERC20
- Total hard cap: $4,850,000
- Total supply: 20,000,000 PROM
- Initial circulating supply: 19.25% of total supply
- Public sale token price: 1 PROM = $1.00
- Public sale allocation: 4.25% of total supply
- Private sale token price: 1 PROM = $1.00
- Private sale allocation: 20% of total supply
- Private sale vesting period: 40% at listing, 60% of tokens are locked for 6 months, then vesting 10% per month
- Seed sale token price: No seed sales
- Seed sale allocation: No seed sales
- Seed sale vesting period: No seed sales
Token Release Schedule
Token Allocation & Release Note
- Public Sale: 4.25% of total supply
- No lockup
- Private sale: 20% of total supply
- 40% at listing, 60% of tokens are locked for 6 months, then vesting 10% per month
- Team & Advisors: 5% of total supply
- 100% of tokens are locked for 12 months after TGE, then vesting 3% per month
- Company Reserve: 15% of total supply
- 100% of tokens are locked for 12 months after TGE, then vesting 3% per month
- Community / Minting: 45% of total supply
- Tokens will be fully minted during 5 year period. Tokens will be minted only after launch of mainnet with pos. Vesting terms will be released before launch
- Ecosystem: 5% of total supply
- 25% after TGE, then 25% per 6 months
- Liquidity Pool: 5.75% of total supply
- No lockup
Token Utility & Use Cases
Prometeus Network native token performs two main functions: allowing customers to access the product (utility token) and rendering financial support for stable and secure network operation (work token). One token combines the two functions in an effort to strike a balance between the interests in intra-network token price rises and falls. Tokenomics is primarily aimed at:
- Contributing to the product price competitiveness by reducing the share of overhead.
- Ensuring the economic stability of a decentralized network of storage nodes and consensus nodes.
The functions of utility token are:
- The token is the only payment method in settlements between DataMarts and Validators/Enrichers, this means the internal price of data is denominated in tokens;
- The token can be a possible payment method for purchases by the Data Buyer from DataMart. If the Data Buyer chooses to pay in fiat currency or cryptocurrency, DataMart purchases the necessary amount of tokens in the secondary market for internal settlement purposes;
- The token can be a possible payment method in settlements with Data Owners. If the Data Owner selects different payment options, the Validator or the Enricher sells part of the received amount of tokens in the market.
The functions of the work token are:
- Serving as the currency of Validators’ and Enrichers' insurance deposits, which is a prerequisite for adding data to storage and selling it to Buyers; the insurance deposit tax finances the blockchain node fees upon completion of token minting.
- Serving as the blockchain node deposit currency in the Proof-of-Stake consensus algorithm, as well as the consensus service fee.
- Serving to pay the transaction fees on the blockchain.
- Constituting data storage and processing fees.
Roadmap & Updates
- Q2 2019
- Proof of Concept
- Concept developed
- Whitepaper released
- Seed fundraising initiated
- Q3 2019
- Prototype Release
- Ethereum based smart contracts
- Ethereum Swarm
- Q4 2019
- MVP (α testnet)
- Participants adoption (validators and enrichers)
- Launch own network (Proof-of-stake)
- Data storage via nodes functionality
- Q1 2020
- MVP (β testnet)
- Second stage of testing and bug fixing
- Integration of AI algorithms
- Q2 2020
- New Features
- Mass Data owners adoption
- Adding “Dead man switch” mechanism
- Network Resource
- Q3 2020
- Main Net
- Scaling to adjacent markets
- Global expansion
Arthur Suilin, CEO, Arthur is serial entrepreneur and a data scientist with over 15 years of experience. He has founded two successful companies: Webvisor, Users' behavior analytics service - acquired by Yandex (YNDX $10.5B) and Talk.ru, predecessor of Reddit - acquired by Mail.ru (MAIL $5.476B). He is also a Kaggle competition winner, contributor of ClickHouse (world's #1 fastest bigdata DB) and ex-lead of Yandex.Metrica (world's #2 web analytics service). Linkedin.
Sergey Bryukov, CTO, Sergey is technology leader in every aspect, from architecture, business and vision to implementation. He is ex-Head of R&D in LAToken, managed cryptocurrency exchange platform development team. He has participated in smart contract developing and applying projects: Acropolis, Melonport, DHARMA and hold a role of Market Making team leader. Sergey has got a hube experience in cryptography, while he had been working for more than 10 years on the cutting edge of R&D in Intel and Bosch. Linkedin.
Armen Beglaryan, Head of operations, Armen started his career in IT as an SEO in 2004, and he was at the forefront of Internet marketing in the Russian Internet. He has a vast experience in creating and managing companies in IT and trading spheres (retail, wholesale, import, and export). He has a proven track record in leading teams and managing successful businesses. Armen knows what needs to be done to move to a new office, deal with hiring staff, launch customer support, establish connections and networks and turn a startup into a professionally managed company (lawyers, accountants, HR, and so on). Linkedin.
Daniil Minkov, Blockchain team lead, Daniil is an experienced manager, many IT projects and complex ecosystem blockchain products have been created under his leadership. With Prometeus Danill is responsible to manage both our own team of blockchain developers as well as developments outsourced to our strategic partner, Snowfox Technologies (www.snowfox.tech). Snowfox is a leading solution provider for building world class blockchain solutions. Linkedin.
Dmitry Vizhnitsky, Tokenomic modeling, Dmitry has PhD in Economics, MA in International Finance, associate professor of National Economy, Ivan Franko National University of Lviv, Ukraine. Member of Regional Studies Association (RSA), UK. Former postgraduate intern, Sustainable Development Dept., World Bank. Areas of expertise: investment analysis and modeling, quantitative modeling and forecasting, sustainability economics and finance. Linkedin.
Maxim Prudchenko, Head of support, Maxim is blockchain enthusiast with a serious experience in relationship manager with experience in community management and team management. He has participated in various token launches as a head of support, bounty manager, community manager. He has got a bachelor's degree in Applied Mathematics and going to improve his skills in area of distributed storage systems and cryptography. Linkedin.
Vladislavs Semenovs, Business development, Vladislav is an experienced professional with a legal and financial academic background with more than five years of career progression in business development, law and investment operations across several industries. He is an early crypto investor(who started trading Bitcoins from 2011) and is active in the blockchain industry as a consultant for startups, service provider and venture investor. Vladislav will be leading business development and alliance management at Prometeus to strengthen and utilize its network for continuous expansive growth. Linkedin.
Arstan Toregozhin, Senior project manager, Arstan was responsible for development, marketing and monetization of 11 sites and 8 mobile apps with consolidated DAO over 2m at Mail.Ru Group (MAIL $5.478B). He has 10+ years of diverse experience in software developing, mobile apps building, sales and marketing. Being a student, Arstan became Microsoft Certified Professional Developer (MCPD). Linkedin.
Alex Mizrahi, Advisor, Alex has been programming since he was 10 years old. He is the first person in the world who has done the implementation of Bitcoin 2..0. From 2012 he leads the open source colored coins project . MSc in applied mathematics from Donetsk National University, graduated with honors. Author of several academic papers about Bitcoin. Also known as “killerstorm”. Besides, Alex is CTO and CoFounder of ChromaWay. Linkedin.
Iddo Bentov, Advisor, Iddo has been involved in the Bitcoin space since 2011. He is a postdoctoral researcher at Cornell University (https://www.cs.cornell.edu/~iddo/) and the author of several academic papers on cryptography and cryptocurrency. He also works on succinct zero-knowledge proofs at SCIPR Lab, and holds a Ph.D. in Computer Science from the Technion - Israel Institute of Technology. Linkedin.
Snowfox Technologies is a developer of a series of leading Internet projects in different fields — fintech solutions, enterprise software development, mobile application development, marketing automation and analytics. Snowfox Technologies activity aims to meet customers needs and requirements developing high—quality products.
Block Rock Capital is a crypto economy- and blockchain- focused fund. With 50+ years in finance and asset management, 30+ years in building technology companies, their goal is to recognize, develop and spread adoption in this new technological wave.
Founded in December 2017, NEO Global Capital (NGC) strives to become one of the best investment platforms in the blockchain industry by professionally adopting best practices from traditional investments; selectively partnering with leading investment professionals and technical developers in the world; while strategically leveraging and amplifying the NEO ecosystem to create lasting competitive advantages. NGC is one of the largest institutional investor of blockchain technologies and has been a key contributor to a number of leading projects including Zilliqa, Ontology, NKN, Oasis, Mainframe, Certik, Bluzelle, and Iotex.
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