Plentix (REFER): ICO Review

What is Plentix?

Plentix is a blockchain solution for the modern referral economy. The project aims to reward the participants in the modern economy; this includes merchants, friends, app developers, and users. The participants receive the rewards in Plentix tokens.

Plentix ICOFor example, a business can use Plentix API sets to create their own applications, feature sets or software modules. They can be developed via a third-party application or on the platform. With these features, developers are compensated for creating apps via Plentix’s blockchain.

Let’s say you have a developer that creates a Plentix API application. And a customer users that API to refer a new user to the platform. In this scenario, the developer is rewarded.

Plentix’s core ecosystem manages all transactions and referrals within the platform. The project’s goal is to create a one-stop shop for referrers and businesses. This allows them to centrally signup, create, and track interactions and referrals.

Aspects

  • Innovative Architecture: Plentix easily plugs into companies selling POS or CRM sale systems. But the users see one interface and can sign up to the Plentix application. The application is designed to be easy for users while also being protected by its blockchain technology.
  • Advanced Features: Plentix uses a solution that makes the transactions on a side chain. Thus, Plentix has a faster speed and a lower transaction cost than its competitors. This circumvents Ethereum’s scalability problems.
  • Automated and Decentralized: Smart contracts automation allows developers to deploy their software on the platform easily. This enables a reduced cost with effortless automation and scaling.
  • Multiple Reward Options: Referrers receive rewards in Plentix tokens for each referral. Or they would receive a commission for their first three purchases. This is up for the business to decide.

Token Information

  • Website: View
  • Whitepaper: Read
  • Fundraising Goal: $3,000,000 (Soft Cap) – $24,200,000 (Hard Cap)
  • Price: 1 ETH = 10,000 PTNs

Bounty0x username: thetechinsiderorg

Positives
  • Verified Team: The ICO project has over 9 members dedicated to developing Plentix’s system. Each of them has 6+ years experience in blockchain technology and creating high-quality decentralized applications.
  • User Incentives: As we stated earlier, Plentix has a flexible set of reward options. In fact, users can customize how they reward their referral network. Businesses can choose to reward their customers in Plentix or other accepted currencies.
  • Reduced Fees: When using Plentix, you pay around 0% per transaction fees. This is due to Plentix removing the middle man. It uses Ethereum’s blockchain, so your transaction will be processed by other users in the network.

Negatives
  • Competitive Edge: The only issue is that the ICO project is entering into a saturated market. This means that even though its idea is unique, Plentix will be faced with high levels of competition. But, it can succeed if it continues to adapt and stay innovative.

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Summary

Overall we believe Plentix will most likely be unable to complete their goal with the incompetent team and will most likely fail. Do not invest.

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Adam Cole has been a crypto enthusiast for years. First getting involved in Bitcoin mining in late 2010, he has now diversified his portfolio and dug deeper into the alternative coins of the space. As new and exciting ideas arise in cryptocurrency, Jeremy is always looking for the next big thing and a coin which not only appreciates in value but also has a steady increase in use and demand. Jeremy has seen the rise of coins such as Ethereum and by studying the technical and fundamental side of ETH, he has learnt how to find similar coins that are likely to have a bright future.

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