🔗 The Mainframe project: disrupting the encrypted communications market.

Project overview
Mainframe, a company specialized in creating apps to help people connect in different innovative ways, has formally launched its project in 2015 at TechCrunch Disrupt London. They want to create a fully decentralized messaging platform, that’s resistant to censorship, surveillance and disruption. Their ultimate vision is the creation and launch of a fully decentralized and unstoppable communication network.

Mainframe has been working on the development of social messaging apps for a long time. In 2015 -2016 they created Spatch, a service focused on improving email.

The project has 5 main pillars:
➡️ Dark routing
➡️ Incentivization
➡️ Encryption
➡️ Peer-to-peer Architecture
➡️ Interoperability

They released their first application on the censorship- and surveillance-resistant Mainframe network in December 2017. ONYX is a fully decentralized messaging tool that can be used in the workplace. Its available for download in the app store.

✅ ICO overview and token economics
On the 16th of February 2018 Mainframe announced its plans to initiate a crowd sale where they will be selling 50% of the total token supply. MFT tokens will be created and issued under the ERC-20 standard using the Ethereum platform. The Hardcap is set at 30,000 ETH of which 10%, 3,000 ETH, will be made available for a special 3-phase crowd sale to the community. Currently Mainframe raised 27,000 ETH through a private sale and the remaining funds, 3,000 ETH, are available for the crowd sale.

The private sale has a vesting scheme that releases the first 31.25% of the tokens on initial distribution, after that each month they will release 6.25% of the tokens until after the 11th months all tokens are distributed to pre-sale contributors.

Mainframe is not conducting a traditional crowd sale, but instead they have a 3 phase public crowd sale to engage the Mainframe community and attract new community members and project supporters.

Phase 1: Proof of Being: After the Mainframe Telegram channel hit 20,000 members, this 1st crowd sale event got unlocked. Airdrop events were organized all over the globe, starting in Asia, and community members were invited. They are currently organizing the last events in the Proof of Being phase in Europe: Amsterdam, Berlin, Warsaw, London, Paris and Zug will be visited. You can still apply for a spot on the guest list.

Phase 2: Proof of Freedom: For this phase the community was invited to be creative and express their thoughts about the Mainframe project and the subject of freedom.
The Mainframe community got very creative into expressing their thoughts and feelings about freedom and privacy. In some cases the entire family participated.

Phase 3: Proof of Heart: Another unique feature of this ICO, 1,000,000 USD in MFT tokens is distributed to the highest donors to a few non-profit organizations selected by the Mainframe team and the community.

They ended up raising 1,400,000 USD for charity through the Proof of Heart phase.

✅ According to their website, The Mainframe team consists of 12 full-time team members.

Mick Hagen: CEO and Founder of Mainframe, Mick dropped out of Princeton University to fully commit to his startup company called Zinch, that was later acquired by Chegg.
Carl Youngblood: CTO of Mainframe, he has been a full stack engineer for over twenty years and is specialized in high-scalable web applications.
Brad Hagen: Vice President at Mainframe, he is an experienced entrepreneur and is helping companies grow in their startup phase.
Shane Howley: VP in engineering back-end at Mainframe, he is a Polyglot problem solver and loves a scaling challenge.
Paul Le Cam: VP engineering front-end at Mainframe.

They don’t have advisors at this point, but they do have some large investors and Venture Capital firms backing the project:

Lars Rasmussen: Founder of Google Wave
Georg Ell: General Manager at Yammer
Andy Mcloughlin: Founder of Huddle

✅ Roadmap
The roadmap of this project isn’t disclosed publicly. Their main strategy is therefore unknown.

✅ Positives:
➡️ The team has a great interaction with the community, they respond to community members tweets regularly. They are very communicative in a fun and informal way.
➡️ A lot of hype about this project strengthened by the community airdrops.
➡️ Transparent and communicative in the token economics

Concerns:
➡️ The lack of a specific roadmap makes it hard to follow the team’s progress and also questions the specific projects they are building.
➡️ No disclosed partnerships listed on the website. In this industry it can benefit greatly to partner up with another Blockchain project to exchange information and experiences. Maybe there are partnerships behind the scenes that we don’t know about, just nothing disclosed as of yet.

Full disclosure: I participated in the 2nd phase of the crowd sale, Proof of Freedom. I received 2 ETH worth of MFT Tokens. I’m also planning to participate in the 3rd phase of the crowd sale Proof of Being Europe Tour.

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LindaCrypto

Blockchain and cryptocurrency content creator. Writing for | Hacker Noon | The Startup | Good Audience | Blockdelta 📧: lindacrypto@ziggo.nl