Aqualite (AQUA): An Alternative to Crowdfunding

Aqualite, or in short, Aqua is the first dividend bearing token that wishes to provide startups with the opportunity to be paid in cryptocurrency in an environment built around trust. Powered by annual net profits earned by a social app called the Wingman Nights app, the Ethereum based token is a chance for companies to gain capital through their ICOs. Investors will now have the chance to contribute to the betterment of the blockchain industry as a whole, rather than commercializing on a single idea. The proposition itself may sound naive at first, since shares will be tokenized and shareholders will be paid by companies in AQUA. However, the implications of using the token are unparalleled.

The Wingman Nights App

Launching in September 2018, the app is not only a proof of concept for the token to rely on but 20% of each year’s earned net profits will be tokenized into AQUA. The application provides UK’s nightlife industry with locations and details of bars, clubs and socially active spots for the public to hang about. The gist of the application’s motive is to target students and young adults to add a dimension in their ever so stressful student lives. The team behind the application intends to maximize the publicity, in-app advertisement and statistical accuracy for businesses. This will attract businesses to hop on to the platform to increase to further their reach. Businesses can provide users with a wide range of purchases that can be customized. This application will charge a minimum of GBP 1.0, a 10% value of all transactions that are made through the application.

The main features of the application are:

  • Convenient payment solution for access and purchases in clubs and bars.
  • Interactive guest list enabling entry into events and desired spots.
  • Face-to-face interaction encouragement and incentive.
  • Searching for hot spots.
  • Premium services and VIP booking.

Aqualite main sale investors will receive dividend returns annually, with 6% dividend returns in the first year, 54% in the second and 274% in the third. Subsequently, the AQUA’s value will predictably be 4 times the annual dividend returns. The precise means of calculating returns have been listed on their whitepaper.

Security at its Finest

The company’s target requires tokenholders to be paid in AQUA through the Aqualite platform. The token itself is a security token with tokenholders being given dividends autonomously and annually. Once investors purchase tokens by converting their ETH into AQUA, they will submit their purchases on the Aqualite platform as Proof-of-Stake. This represents the 20% shares that Wingman will use to purchase AQUA on available exchanges, allowing Wingman to set dividend payout dates and power the platform to pay investors in AQUA. It is secure and traceable. The value of the token increases as an increasing number of companies raise capital through their ICOs through purchases of the AQUA token. Notice how this chain of events resembles the groundwork of an ecosystem.

Dividend shares of this form offer more convenience since a traditional share would involve 3 days of waiting after purchase to register as a shareholder through banks. Aqualite will use the Ethereum platform for smart contracts revolving around transactions. The tokens are digital assets that can be traded on exchanges that are yet to be mentioned by newfangled company. The use of blockchain eliminates security concerns pertaining to transparency since all investments are directly classified as shares of the platform. Additionally, blockchain will allow the company to maintain a multitude of startup clientele by using shares as a mode of currency.

The Road Ahead

For their main sale that is live at press time, Aqualite’s website has visually depicted the allocation of collected funds, half of which will be entitled to Application Development and Maintenance. 20% of funds will be allocated to Employee Salary, 20% to Marketing, 9% to Merchandise and 1% to Charity.

Their roadmap paints the canvas with a concise yet effective direction. This year, they have taken their first few steps with The Wingman application, set to launch just this September. The company will proceed with business meeting in areas like Southampton in the quarter that remains. In 2019, they hope to further their reach and launch the application in Brighton, Birmingham, Manchester, Liverpool, Bristol, Portsmouth and Bournemouth. Furthermore, the first dividend payment will be made in the later half. In 2020, the application will make its way to the heart of England i.e London. The Red C Application Development team is currently hard at work to add finishing touches to the app.

The two founders of the startup, Michael Kelly and Douglas McCrae, are titans of the business logistics and development domain. Optimistically, they have been on board to enlighten the masses of the technology they are yet to provide.

Considering the immature growth of the crypto market, Aqualite is certainly right on track by providing struggling startups with a backbone to rely on. More power to you, UK’s nightlife!

Noefal Ahmed

Software developer, graphics artist and crypto enthusiast. Noefal is a performing artist and covers blockchain startups for BlockPublisher. Contact the editor at editor.startups@blockpublisher.com

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