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September 15 2017

ICO Alert Report: Spheris

ICO Alert Report: Spheris

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What is Spheris?

Spheris is an open source decentralized application marketplace. Think of an App Store — on the blockchain. There are several problems with today’s app marketplaces, problems which we think can be resolved thanks to blockchain technology. We want to bring a strong alternative platform to the app distribution market that will offer more to both developers and consumers.
Blockchain technology allows us to implement platform features that just aren’t viable in centralized environments:
Fees: Right now, developers who choose to publish their apps in one of the known app marketplaces have to pay for registration and 30% for each transaction. That’s about to change with Spheris. No registration fees, no transaction fees, and developers get 100% of their revenue.
Payment: You make an app sale — you get paid. Instantly. No 30-day payment hold periods.
No Restrictions: Say goodbye to tiresome bureaucracy. Devs can sell their apps from anywhere in the world, regardless of where they are based and regardless if they are a registered entity. Anyone can start doing business on the Spheris platform — it’s that simple.
No Corporate Middlemen: We can do this without corporate middlemen. Buying and selling apps will be done with Spheris tokens (SPRS), removing the need for credit card companies and banks.
— David Shabun

Crowdsale Information
The crowdsale will begin on September 19, 2017 at 15:00 UTC and will end on October 19, 2017 at 15:00 UTC. The conversion rate is 1 Ether for 300,000 SPRS, but this may change due to Ethereum price fluctuation. Currently, only Ether and Bitcoin are accepted for contribution, but the team has plans to add contribution for other cryptocurrencies before the crowdsale begins.

There is a minimum goal of $720,000, which if not met, will result in a refund to contributors.

There is a bonus structure for early contributors as follows:

— Days 1–2: 360,000 SPRS per 1 Ether contributed
 — Days 3–7: 345,000 SPRS per 1 Ether contributed
 — 2nd week: 330,000 SPRS per 1 Ether contributed
 — 3rd and 4th week: 315,000 SPRS per 1 Ether contributed

For the most up to date information, please check the Spheris website.

Token Distribution Information
Tokens will be distributed to contributors at the end of the crowdsale period. The SPRS token is an ERC-20 token. There are a total of 2,000,000,000,000 SPRS tokens being created, and no future tokens will be created after the crowdsale. Contributors must use an ERC-20 compatible Ethereum wallet in order to receive tokens. Exchange wallets should never be used for contribution.

Of a total of two trillion SPRS tokens, the allocation is as follows:

— 62% of SPRS tokens will be allocated to the public crowdsale.
 — 4% of SPRS tokens will be allocated to early investors who participated in the private pre-sale.
 — 11% of SPRS tokens will be reserved for the LaunchPad Fund. The reserve will be locked for a period of 12 months and will be used to support and attract new developers to the Spheris platform once unlocked.
 — 15% of SPRS tokens will be allocated to Spheris founders and advisors. Founders and advisors cannot access these tokens for 12 months.
 — 8% of SPRS tokens will be allocated to marketing and a promotional bounty campaign.

Use of Crowdsale Proceeds
55%: Development
Development costs include the development of main Spheris components, hiring top rate blockchain developers, UI/UX specialists, and technical writers. Quality assurance of the code, security assessments of smart contract, and other code base related tasks.

10%: Reserves
Reserve funds will be used to deal with unexpected situations, such as additional over-budget legal expenses or other operational circumstances.

15%: LaunchPad Fund
LaunchPad funds will be dedicated toward paying developers for app migrations, conferences, grants, hackathons, and other competitions.

8%: Operations
Operational costs include business development, accounting, hiring new talent, providing support, community relations, staff education, and other administrative tasks.

10%: Marketing
Marketing costs include promotion of Spheris operations, market outreach, developer app distribution, a strong social media presence, global and international marketing efforts, and other multilingual operations across the world.

2%: Legal
Costs related to the establishment of Spheris as a foundation, legal advice, and compliance with relevant regulations in context of the market.

David Shabun, Co-Founder
David is an infrastructure and security expert. He has experience architecting, building and securing payment gateways, and leading large IT projects for the past 10 years. He has been a blockchain fanatic since 2011 and is also an open source advocate and Ethereum enthusiast.

Sergey Tsyba, Co-Founder
Sergey is a blockchain developer, Solidity hacker, web guru, and an entrepreneur. He has over a decade of experience in designing, developing and deploying complex applications. Before Spheris, he held various CTO and co-founder positions at other companies and startups.

Vladimir Shabun, Co-Founder
Vladimir is a mathematics student at Tel Aviv University, a cryptography and algorithms enthusiast, a seasoned QA lead, and has been designing application and business processes for the last seven years.

Social Media
Telegram: https://t.me/spheris
Reddit: https://reddit.com/r/spheris
Bitcointalk: https://bitcointalk.org/index.php?topic=2076069
Twitter: https://twitter.com/spheris_io
Medium: https://medium.com/@spheris
Github: https://github.com/spheris


ICO Alert: How is the Spheris Token (SPRS) used on the platform and why is it needed?

David Shabun, Co-Founder: The Spheris Token is an Ethereum-based ERC20 standard cryptocurrency. The main purpose for SPRS is to act as the default currency on the Spheris platform for buying and selling apps. Because Ether doesn’t provide the flexibility we needed for our platform, we decided to create our own platform token while considering convenience and scalability.

ICO Alert: There are millions of current applications that exist across the Google, Apple, and Amazon app stores. How do you plan to market to these applications, or is the thought to strictly attract new applications in development?

Spheris: We have the LaunchPad program planned for reaching out to developers who have a presence in one of the current app marketplaces, as well as new developers who are just starting. Some of the funds raised during our crowdsale will go directly toward these marketing efforts. We also have a reserve in tokens to be used especially for developer support and outreach.
The Spheris platform does not demand exclusivity–meaning that developers are free to pursue other distribution strategies alongside their business on Spheris. This makes it easier to attract established developers who are interested in an additional distribution channel.

ICO Alert: The Decentralized Application Marketplace (DAM) within the Spheris platform has five major components. The catalog component will be a database of registered applications and developers. Is Spheris actively signing on applications and developers, and if so, are there big names that have been signed on thus far?

Spheris: We are actively working on that front and are in the process of building the first developer base that will be featured on our platform.

ICO Alert: Another component of the DAM is an anti-piracy subscription component called Signal. How does this function and why is it important?

Spheris: The Signal component is meant to validate subscriptions in the blockchain. We want to make it easier for developers to deploy their software by saving time and resources to code anti-piracy modules into their software. Signal will do this job.
We will develop libraries in the most popular development languages. So once a developer chooses the development language of his choice (say .NET for example), the proper API will be available for them to work with. The API will allow devs to check if a user who is trying to run an app has a valid subscription. Developers will not need to learn the inner workings of blockchain in order to use Signal. It will be simple and easy.

ICO Alert: There are a total of two trillion SPRS tokens being created. Why is it necessary to create so many tokens for this platform?

Spheris: There are a few reasons why we chose a supply of 2 trillion SPRS:
Convenience: Given that SPRS tokens are meant to be used as the currency for buying/selling software, we want software price representations in SPRS to be convenient for worldwide markets.
Scalability: Taking into account that the Spheris platform will continuously attract new users, SPRS market price will rise to the point of disrupting software prices which are traditionally tied to a fiat currency index, unless scalability is taken into account.
Greater Liquidity: Higher number of outstanding SPRS tokens can result in greater liquidity for the SPRS token stock. This will facilitate trading and will narrow the bid-ask spread.

ICO Alert: The Ethereum network has recently come under criticism for the lack of speed/scalability associated with transaction times, especially during the launch of more popular ICOs. Is Spheris concerned with the speed of the Ethereum network hampering the mainstream scalability of their project?

Spheris: The Ethereum blockchain was our choice because the technology is well documented and it has a big thriving community that is actively developing. It’s important to point out that our project does not solely rely on Ethereum and the Spheris platform is not bound to it. We have the option of migrating to any other blockchain that meets our platform’s requirements, as well as the option to develop our own custom blockchain (this, however, is not on our roadmap).

ICO Alert: What makes the other three components of the DAM (storage, browser, and manager) so unique/valuable for the Spheris project?

Spheris: The Storage component is important to achieve an extra layer of decentralization. Users will be able to upload their apps to decentralized storage, in effect making these apps immutable. There will be no single point of failure and no single authority will be able to change it.
Our Browser component is the user interface to the whole platform. A good user experience is very important for us. We want to take it a step further than what is currently accepted in the blockchain industry in terms of usability and ease-of-use. Users will be able to browse the app store without the need to understand the technicalities involved in blockchain technology.
Spheris Manager is an extended crypto wallet meant to provide an all-around app and subscription management solution to users. Usability, yet again, plays an important role in Manager. We want it to be effortless for users to manage their apps, see which apps they are subscribed to, which types of subscriptions they have, renew subscriptions and so on.

ICO Alert: As a non-Spheris question we like to ask for interesting predictions for the ICO/cryptocurrency space in the future. Where do you see ICOs and the cryptocurrency space in 3–5 years?

Spheris: ICOs are an important driving force of blockchain technology and innovation. Some of the projects that get funded right now will be shaping and defining the future of Web 3.0. We are firm believers in blockchain solutions and see the world gravitating towards decentralized systems that are backed by cryptocurrencies. We think that in five years, many large services and platforms are going to be blockchain-based and there will be a prominent place for cryptocurrencies in the global economy.

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View the Spheris Website here.

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(1) Spheris Website, Spheris, (2017)

(2) Spheris Whitepaper, Spheris, (2017)

Topics: Blockchain, Cryptocurrency, ICO, Developer, Finance