Mingo - Crypto Coin + Tutor + Messenger = Mingo
Mingo walks users through their first cryptocurrency transaction with a tutorial, hiding the complexities of cryptocurrency at first. Step-by-step Mingo teaches users about cryptocurrency with MingoCoin as the default currency, incentivizing good behaviors with achievements and MingoCoin rewards, until the user is comfortable enough to unlock more advanced features. This is accomplished by presenting users with MingoMessenger (the first successful multi-channel messenger), MingoWallet (a simplified and gamified cross-currency wallet), and MingoCoin.
MingoMessenger is a working app available for Android and iOS with over 50,000 downloads in 160 countries. Pre-sale and ICO funding will be allocated to further develop MingoMessenger including i18n support (multiple languages), regulatory compliance, strategic provider relations, and new features.
* Account Merging
MingoMessenger allows you to merge accounts from all your favorite messaging providers into one app. This means no more switching between apps to receive and send messages to/from your contacts. Currently supported channels include:
• Discord: 45M registered users; geared toward gamers and developers.
• Facebook Messenger: 1.57B daily mobile users.
• IRCCloud: 16K users.
• Skype (in beta): 300M active users.
• Slack: 5M daily users.
• Steam: 125M registered users with 7M-10M users online at any given time.
• Telegram (in beta): 100M monthly users.
• Twitter: 328M monthly active users.
A portion of funding from the Mingo Pre-sale and ICO will go toward developing future provider connections. The providers on the roadmap include:
• Blizzard Chat: 41M monthly gamers.
• Google Hangouts
• Instagram: 700M daily users.
• Kik Messenger: 300M registered users.
• Line: 217M monthly users.
• LinkedIn: 106M monthly users.
• Origin Chat: 30M gamers.
• Renren: 242M registered users. Popular in China.
• WeChat: 938M monthly users. Popular in China.
• WhatsApp: 1.2B monthly users.
* Contact Merging
With MingoMessenger you can merge contacts from different provider accounts. This allows you to have Mingo contact for every real-life person, instead of multiple contacts, spread across multiple accounts, in different apps.
By merging contacts, your discussion feed will show all your conversations with a single friend in a single feed.
We know you care more about what your friends have to say than which app they use to say it.
* Future Messenger Features
Future features such as global text searching, video and voice sessions, chat room support, sending attachments, and, of course, sending money are just some of the features on the roadmap for MingoMessenger.
Starting users off with a messenger is the key to success. Mingo’s familiar and simple to use interface ensures that users will find value in the core app while slowly introducing them to cryptocurrency through gamification; rewarding app usage with achievements and MingoCoin. But users need a place to keep their MingoCoin, and that is where MingoWallet comes in.
MingoMessenger is available now
Mingo is a guided and reward-driven experience. After downloading Mingo, you will be asked to connect your messaging accounts. You will then be rewarded with an achievement badge and 10 MingoCoin (MGC). The very next thing Mingo will ask you to do is share 1 MGC with 10 friends. Once 10 of your friends download Mingo and accept the 1 MGC you will be rewarded with another achievement badge and 20 MGC. You will be congratulated for your first cryptocurrency transaction, and for most people it will be their first ever experience with cryptocurrency. At first Mingo hides the complexities of cryptocurrency, teaching users how to use progressively more advanced features until they are comfortable with the fundamentals Mingo will then reveal new features allowing the user to participate in multiple currencies and maintain multiple wallets all within the app.
MingoMessenger and MingoWallet are key to making cryptocurrency mainstream, tapping into the 1.9B users currently using messengers. Mingo will be the first app and coin to have a clear plan and ability for reaching the general population.
At the heart of Mingo is Gamification. This is the idea that small healthy behaviors are rewarded immediately. Mingo is built on the Trigger-Action-Benefit principle of behavioral science, also known as the 3 Rs: Reminder, Routine, Reward (Clear, 2013).
Reminders include notifications, in-app messages, and virtual helpers that trigger a user to take a specific action, or initiate a routine. Immediately after the action the user is rewarded with recognition, achievements, and, exclusive to Mingo, coin.
Every cryptocurrency has mastered creating money without a central power, but the real power of cryptocurrency is in its ability to distribute money without a central power (Jeffries, 2017). Gamifying the actions that promote cryptocurrency usage is one of the best mechanisms for distribution.
While MingoCoin is bound to be the fastest growing cryptocurrency due to gamification and its strategic relationships, it is understood that users still want to manage their other cryptocurrency wallets. Mingo will support other major cryptocurrencies, specifically Bitcoin, Ether, Litecoin, Ripple, and other altcoins and tokens.
Advanced users will be able to unlock these features immediately, while novice users will slowly be introduced to other cryptocurrencies through gamification.
It is understood that not everyone will have only MingoCoin. This creates a challenge when attempting to send money via MingoMessenger and the recipient doesn’t have a compatible wallet. The brute-force solution is to implement a solution like ShapeShift to allow the sender to convert between cryptocurrencies before sending. What if the sender didn’t have to know which currency the recipient could accept before sending?
Mingo’s core principle is to make transacting in cryptocurrency as simple as sending a text message. To address this specific challenge, the Interledger Protocol (ILP) will be implemented to facilitate cross-currency transactions. Thinking of accounts and wallets as ledgers, “[ILP] lowers the barriers to facilitating interledger payments. Connectors compete to provide the best rates and speed. The protocol can scale to handle unlimited payment volume, simply by adding more connectors and ledgers.” (Thomas & Schwartz)
To decrease the cost- and time-to-transact, in coordination with ILP, Mingo will connect to the Plasma (ETH), Raiden (ETH) and Lightning (BTC) networks for off-chain optimizations. This will not only allow users to participate in cross-currency transactions, but even for intra-currency transactions, leveraging the Plasma, Raiden and Lightning networks will dramatically improve the speed and decrease the cost of ETH and BTC transactions, potentially making Mingo suitable for point-of-sale transactions.
MingoCoin (MGC) is the core unit of value in Mingo. Like every other cryptocurrency, the key factor that affects the value of MGC is how many users are using it. More usage leads to a greater demand, which is reflected in the value of trades for MGC. If, as Blockchain.info indicates, the current active user count of cryptocurrency users is 16.8 million, Mingo’s strategic partnership with Xunison alone will single-handedly increase the global cryptocurrency user count by approximately 10% within the first year.
The purpose of the pre-sale phase is to fund a successful ICO and to start development of MingoWallet and MingoCoin for an early release version ready for production by Q1 2018. Funds will also be used to develop MingoMessenger, creating further stability and adding the most popular messaging channels.
During this phase, marketing and contributor relations team will be built to ensure that exposure is sufficient for a successful launch. In the end, a successful launch with a usable product will increase the value of MingoCoin for all early contributors.
Pre-sale funds will be allocated as follows:
• Research & Development: 44%
• Sales & Marketing: 22%
• Operations Development: 15%
• Security & Legal: 12%
• Customer Support: 5%
• Contributor Relations: 2%
MingoToken (MGT) is the token that will be issued during the pre-sale phase. MGT will have a 1-to-1 exchange with MingoCoin (MGC). Upon the completion of the ICO, MGT owners will be able to redeem MGC using their MGT.
Participating in Pre-sale
To participate in the Mingo Pre-sale, visit the MingoCoin website.
Ether (ETH) is the only accepted currency to participate during the Pre-sale. You MUST use a token-compatible wallet such as MyEtherWallet, Parity, or Mist. ETH from exchanges such as Coinbase will not be accepted.
You can participate in the Mingo Pre-sale and check your balance of MGT by visiting:
Initial Coin Offering (ICO)
The purpose of the MingoCoin ICO is to raise sufficient funds for long-term development and propagation of Mingo. Funds will be used to open offices in Ireland, China, the USA, and any necessary locations where strategic advantages and proximity to partners would be realized. Additional focus will be given to forming strategic relations with partners who can offer Mingo to their client base to promote general adoption. Operations Development will be created to build a culture of compliance, working directly with regulatory agencies for the future of MingoCoin. Research funds will be allocated to participate in initiatives like the Interledger Protocol, Plasma & Lightning Networks, and general blockchain technology to create more instant and less costly transactions for Mingo users.
MingoToken (MGT) is the token that will be issued during the ICO phase. MGT will have a 1-to-1 exchange with MingoCoin (MGC). Upon the completion of the ICO, MGT owners will be able to redeem MGC using their MGT.
Participating in ICO
To participate in the Mingo ICO, visit the MingoCoin website after the ICO launch.
Ether (ETH) and Bitcoin (BTC) will be accepted during ICO.
If you are participating using ETH, you MUST use a token-compatible wallet such as MyEtherWallet, Parity, or Mist. ETH from exchanges such as Coinbase will not be accepted.
The ICO contract will be announced closer to the ICO launch date.
MingoCoin (MGC) is an ERC20-compliant token contract that will be issued on the Ethereum public blockchain. The contract will be developed prior to the completion of the ICO and publicly available for review.
The total MGC count will be calculated upon completion of the ICO. The equation for calculating total volume is:
Total MGC Volume = (Pre-sale issued MGT + ICO issued MGT) / 0.7
The Mingo team values the contributions of early adopters and supporters which is why 70% of all MGC will be issued to Pre-sale and ICO participants. 10% will be allocated for Mingo User Rewards. 20% will be reserved for founders, early investors, and future employment incentives.
Founder reserves will not be issued immediately. The Founder’s Reserve will be vested over a 4-year period. The first 25% one year after the close of the ICO and 25% each year after.
Likewise, to prevent token dumping, MGC will be vested to token holders over a 1-year period; the first 50% at 6 months and the last 50% after 12 months.
The 10% reserved for User Rewards is part of Mingo’s strategy to incentivize user adoption through sharing. As part of Mingo’s gamification mechanism, sharing MGC with contacts through the app will result in the app rewarding the sharer with achievement badges and MGC. Once the User Rewards pool reaches a 10% balance the total supply will split 10x, effectively restoring the User Rewards pool to 100% without diluting existing token holders’ position. Should it be determined that minting new token is preferable to a split, a voting contract will be issued to all existing token holders for consensus. It is estimated that exhausting the 10% User Rewards reserve would result in over 600 million unique users. With a user base that size, MGC will have reached an unprecedented adoption in the cryptocurrency space, effectively growing the global cryptocurrency user base by 100x, and the value of MGC will have risen sufficient to justify a minting round to continue the growth.
Fran Rooney, Chairman
As CEO of the cryptography and data security company, Baltimore Technologies, Fran took the company from a small operation to a global enterprise with a market cap of $13.6 billion; twice named Ireland’s Company of the Year. Fran was also presented with the 2000 Businessman of the Year by the President of Ireland and 2001 Entrepreneur of the Year by the Bank of Ireland.
Joe Arthur, CEO & Co-Founder
With over 20 years as an educator specializing in engineering, Joe understands the importance of gamified teaching, whilst having a track record of bringing high value strategic partnership to bear. Combining his extensive network and passion for education Joe is ideally situated to bring Mingo to the market and beyond.
Deirdre Arthur, COO & Co-Founder.
Deirdre is an entrepreneur and business owner, starting her first business at the age of 18 and has since run numerous companies. She worked as National Operations manager for an international franchise chain. She’s negotiated large contracts with companies such as Ryanair for distribution of a range of products.
Ken Anderson, CTO
20 years of experience in system design and software architecture, Ken is a serial entrepreneur. He’s built a team of award- winning engineers and often consults as interim-CTO for companies during periods of restructuring. Ken was the lead contributor to the TM Forum’s REST API design guidelines, now used throughout the $2 trillion global telecom industry.
Dean Gammell, CMO
Dean is a specialist in digital branding. He is the founder of DG Ventures Ltd, an umbrella firm for many successful tech businesses. He’s built several successful online companies, including GoIrishTours.com, TheGroupSystem.com and Stagit.ie (the leading provider of hen/stag parties in Europe). He was named Ireland’s Young Entrepreneur of the Year in 2014.
Ryan Leckey, Lead Engineer
Github superstar; contributing to and maintaining many high-profile open source projects. Ryan’s projects have won awards and he’s personally won hackathons put on by both Intel and the TM Forum. He’s a serial entrepreneur. As CTO he has managed small-to-large software integration and development projects.
Ray Walshe, Director
Ray has more than 30 years of experience in engineering, technology, and software projects with organizations including Electric Ireland, Ericsson, and Siemens. He is a National Standards Authority of Ireland (NSAI) recognized expert in emerging technologies like blockchain and distributed ledger platforms, Internet of Things, and smart city initiatives.
Cathal Gacklin, VP Enterprise
As Principal Operations Engineering Manager at Microsoft, Cathal manages a global team of Service Operations Engineers, Service Engineers, Infrastructure Engineers, and Service Managers that deliver Enterprise Development Services at Microsoft.
Ryan O’Donovan, Strategic Partner
Ryan is the CEO of Xunison, a software/hardware development company which deals with some of the largest companies in China. He focuses on smart homes, software and user interface design for telecommunication companies, white label customers, and factories in China.
Michael Corcoran, Business Strategy Advisor
Michael has 13 years of experience in financial services including portfolio management and development. He provides consulting services to companies looking to develop internationally.
Stephen Taylor, Industry Advisor
Stephen is currently the Senior Service Manager at Microsoft, operating out of Redmond, Washington. He has a broad background with varying technologies and international markets. He has a proven track record of leading global virtual teams to deliver software products and services.
Dr Kevin Casey, Industry Advisor
Kevin holds a PhD from Trinity College Dublin and is currently a lecturer in Computer Science at the National University of Ireland. He is a funded investigator at Maynooth University and an affiliate of the Insight Centre for Big Data Analytics.
James Roy Poulter, Blockchain Advisor
As CEO of Blockchain Reserve, James works with best-in-class token issuances - specialising in advising post-product companies with traction and proven teams. A Chartered Accountant and ex Developer-in-Residence at an early stage venture fund, James sits at the intersection of finance and technology.
Gordon Graham, Marketing Advisor
A formal journalist, Gordan has more than 35 years of experience in technology marketing. He has won 14 awards from the Society for Technical Communication and has worked on more than 250 whitepapers for clients including 3M, Google, Rackspace, and Verizon.