Slothee – ICO Detailed Information

Slothee: Business Networking App on Blockchain

Slothee is a startup registered on the British Virgin Islands that developed a business networking application which, as they claim, is unique to this particular field. According to the team’s estimate, over the course of 3 years, the app must form the base of 3.5 million active users capable of generating the revenue of around $31 million. The Slothee network is based on the Ethereum blockchain and its Whisper V6 protocol to ensure better privacy and data security.

The Slothee app specifications

The Slothee app is said to be transformed from being partly centralized to fully decentralized over the course of its further development, though the full transition should take to more than three years. The chief purpose of Slothee is to address the problems that torment the contemporary users of social media outlets, with privacy and data manipulation being the most acute of them.

As of now, the application is at the level of MVP, but is already available for download on Google Play Store. The app has three main features: the Cafe, the Billboard, and the Private Lobby, all of which serve the purpose of bringing together people from various areas of business so that they could establish long-lasting and efficient professional relationships.

The Cafe feat detects and notifies the Slothee users who attended the same event and are located at the proximity of around 300 meters, thus granting them an immediate opportunity to meet face-to-face and establish a business connection.

Billboard enables users to showcase their achievements, share the positive experiences, or unobtrusively promote their businesses without being morally dependent on the metrics that are typical for Facebook, Instagram, etc.       

Private Lobby is a form of chat that was designed using a technology stack similar to the one of Telegram that is known for having state-of-the-art encryption properties and unrecoverable data-erasion option.

The use of SLO tokens

The project introduces the ERC-20 token named SLO which is currently being distributed among interested investors via IEO carried out on the VinDAX exchange.

The field of application of SLO lies in purchasing the access to exclusive services, which have not been outlined in the project’s whitepaper yet, and fund other activities that will take place within the framework of the Slothee ecosystem, presumably marketing campaigns, giveaways, event funding, etc.  

The team

The Slothee team is comprised mainly of Indian digital entrepreneurs, blockchain/ web developers, and marketers. The whitepaper claims that the group of founders has been working together for over five years to bring the concept of Slothee to fruition.

Praveen Kallipatti. A full stack developer by profession, Praveen is the main founder of Slothee also associated with the project called EdisonPlan.     

Bhavadharani Karunakaran. The co-founder and an experienced entrepreneur who has previously worked as a director at RupeeLife and the executive at Ernst & Young.

IEO details

Slothee offers 70% (280 million) of its total supply of 400 million SLO for sale which takes place on the mentioned exchange. The IEO is due to last until June 28. The value of 1 SLO is estimated at $0.08, though the proportionate bonus applies, which can reach up to 20%. The minimum purchase is 250 SLO or $20 worth of tokens. SLO can be bought using BTC, ETH, BCH, LTC, and USD. Citizens of the United States are not allowed to participate in this IEO.

Author: Alex Paulson for Crypto-Rating.com