1. What is PARKGENE?
"PARKGENE enables Drivers to Conveniently and Cost-Effectively Book Parking Spots Directly from Individual Parking Space Owners. Starting from enabling peer-to-peer Airbnb-like parking services, PARKGENE’s mission is to create an ecosystem which connects the entire automotive industry in a mesh marketplace network that uses GENE tokens as the means of transaction. Parking in large cities can be a burden on drivers and on the cities themselves. Drivers spend nine minutes on average driving around in circles looking for a parking spot, creating traffic, while one in three drivers fails in securing a convenient spot. Existing platforms operate as parking industry intermediaries that charge a premium for their services.
At the same time, a peer-to-peer parking economy is not fully implemented, because intermediaries remain as arbitrators. Additionally, tax regulations restrict direct payments using fiat currency between individuals. Using blockchain technology PARKGENE overcomes these roadblocks and allows drivers and parking owners to engage in a smart contract. PARKGENE’s decentralized technology supplies new untapped parking spots in crowded cities by enabling seamless integration of all competing parking technology solutions offered by the industry, thus creating a functional marketplace.
2. How does PARKGENE work?
Drivers looking for a parking spot meet virtually with parking owners through the PARKGENE app. Once a driver reserves a parking spot, the reservation triggers the PARKGENE smart contract on the Ethereum Public Blockchain. The PARKGENE App transfers the full parking fee amount, in GENEs, from the driver wallet, to a depository (a temporary wallet). In case there is not enough GENEs balance in the driver’s wallet, the driver can use his credit card or other means of payment (bitcoins, ethers) to buy GENEs realtime and pay for the transaction. The successful reservation and payment provide additional App functionality to drivers and parking owners, which is needed for the completion of the actual parking session. For example, the driver will have the ability to open the garage door from his mobile phone, while the parking owner is notified and monitors – in live video – the entrance and exit of the vehicle.
This functionality is optional – although very helpful – and is achieved through integration of PARKGENE platform with existing remote access tools that are available in the market, or a specific device that PARKGENE will offer to the Parking Space owners at very low cost. At the end of a successful transaction the parties conclude a smart contract on Ethereum, with the entry and its confirmation on the blockchain.
The parking space owners receive, from the depository to their wallet, 75% of smart contract in GENE tokens, when drivers check out of the parking space. Out of the remaining: - 5% of the total amount is paid to the driver and parking space owner as they perform several actions that enhance the ecosystem (eg. Ratings, Reviews). - 10-20% of the total amount is paid to PARKGENE to cover operational, development, cloud services and advertising costs. At any time, the users of the platform can buy or sell GENE tokens for FIAT currency (USD, EUR, JPY, CNY, etc) or other cryptocurrencies (BTC, ETH, etc) by using several cryptocurrency exchange services that trade the GENE token. GENE is available in a limited edition of 1,000,000,000 GENE Tokens. We expect that the increase of users and number of smart contracts will increase the demand for GENEs among drivers, resulting in a token that other service providers (i.e. Tolls, Car Wash, Car Insurance, Tow Service providers etc) will likely receive as payment for their services.
3. Why PARKGENE is interesting?
Building a peer-to-peer parking community through blockchain technology and the use of GENE tokens as a flexible means of payment create an easy, accessible, transparent, cost-effective way for drivers to find parking spaces and for parking space owners to make extra income. Establishing GENE Tokens as a parking industry means of transaction will attract other relevant industries (car insurance, tolls, automotive services, etc.), to use PARKGENE’s distributed ledger technology and start accepting GENEs for payments. Leveraging all the advantages of smart contracts, circumventing intermediaries and paperwork, PARKGENE is ready to revolutionize the parking industry.
4. Token bonuses
PRICE WITHOUT BONUSES:
1 GENE = 0.10 USD ADVICE: Participate on the Early Bird ICO (Day 1 to 7) to collect all available bonuses! Apply them all and get up to 35% BONUS! With all bonuses applied on Early Bird ICO, get up to 13.5 GENE tokens per 1 USD.
HOW TO GET ALL BONUSES:
★ Day 1-7: Join our telegram group to get a promo code for an extra 10% Day 1 Whitelist-Only bonus
★ Day 8 and later: Receive and Apply special Promo Code and receive a 5% additional bonus*
★ Any Day: Refer to friends and receive a 5% Referral bonus *can't be applied together with the Day 1-7 Whitelist-only bonus ICO:
Early Bird - Week 1 ------------------------ January 15, 2018, 10:00 AM (GMT) - January 22, 2018, 9:59 AM (GMT) Bonus depends on the contribution amount: Contribution Bonus 20,000 USD and more 25.0% 5,001 - 20,000 USD 22.5% 1,500 - 5,000 USD 20.0% less than 1,500 USD 15.0%
ICO: Week 2 ----------- January 22, 2018, 10:00 AM (GMT) - January 29, 2018, 9:59 AM (GMT) Bonus depends on the contribution amount: Contribution Bonus 20,000 USD and more 20.0% 5,001 - 20,000 USD 17.5% 1,500 - 5,000 USD 15.0% less than 1,500 USD 10.0%
ICO: Week 3 ----------- January 29, 2018, 10:00 AM (GMT) - February 5, 2018, 9:59 AM (GMT) Bonus depends on the contribution amount: Contribution Bonus 20,000 USD and more 15.0% 5,001 - 20,000 USD 12.5% 1,500 - 5,000 USD 10.0% less than 1,500 USD 5.0%
ICO: Week 4 ----------- February 5, 2018, 10:00 AM (GMT) - February 12, 2018, 9:59 PM (GMT) Bonus depends on the contribution amount: Contribution Bonus 20,000 USD and more 10.0% 5,001 - 20,000 USD 7.5% 1,500 - 5,000 USD 5.0%
ICO: Week 5 ----------- February 12, 2018, 10:00 AM (GMT) - February 19, 2018, 9:59 PM (GMT) Bonus depends on the contribution amount: Contribution Bonus 20,000 USD and more 5.0% 5,001 - 20,000 USD 2.5%
5. What else do investors need to know?
Innovative service Commercial MVP serving already more than 50K users substantial returns in a $100 billion market annually Advanced technology, continuous development and a working – commercial product Concrete business plan Strong development team and advisors Strong marketing team and experience with 18+ ICOs in the past. Zero Soft-Cap. For any amount raised, GENE tokens will be issued after the completion of the ICO. Unsold Tokens will be burned Advisors, Team, Founders Locked in for 6 months Money will be held in Escrow
- Compact and highly skilled team with a lot of experience in startups, fintech and payment systems.
- Funds allocation seems great and well thought out in general
- Roadmap seems well thought out for the team and it’s size. Team is also planning to expand the team size by 60%.
- The logos shown on the website eg. Visa and Mastercard could be interpreted as partners, but can’t be verified. Possibility of exaggeration
- Information is not presented clearly either on the website or white paper. Most of the contributor-relevant information is scattered
- Low hard cap considering the expenditures associated with required licenses and institutional statuses