[ICO] Mavin - A reward-based influencer marketing ecosystem on blockchain.
Mavin’s vision is to become a global market maker, where brands and companies (marketers)
and nano and micro influencers (influencers) come together.
The marketers will benefit by reaching a more extensive audience with a higher engagement
rate. And the influencers will be paid by the marketers for some of their social media
mentions, giving them the opportunity to participate directly in the marketing budget
The marketing spend will not only be distributed to well-known and famous influencers,
but also to ordinary people. Because everyone’s an influencer.
Mavin is a decentralized, reward-based, global influencer marketing ecosystem based on
blockchain that connects digital marketers and agencies to micro and nano influencers on
Through the aggregation of the marketing power of micro and nano influencers into single
campaign entities, Mavin outperforms the traditional target advertising market through
significantly higher ROI and engagement rates. At the same time, it reduces handling costs
and advertising spend through blockchain technology, smart contracts and micro transactions.
Our quality verification framework allows micro and nano targeting at a new level, while
also offering transparent KPI measurement and disruptive rates.
All transactions are handled through MVN tokens, the platform’s internal currency that
powers the payment, reward and verification system
The Mavin platform
An essential factor of the Mavin platform is its user base, the influencers. They are contributing to the different campaings and earning rewards in exchange.
The marketers are the contracting authorities of the Mavin platform. They choose from different campaign types and put them out to tender. They are
rewarding the influencers for a successful participation.
- Social Media
The Mavin platform supports the social media channels most frequently used by influencers. Depending on the platform, the social media posts will be assessed by picture quality, likes and comments to quantify the engagement rate.
- Human Verifier
Quality verifictation is a key component for a reliable pursuance of a campaign. A reward based human verification process is part of the Mavin Quality Verification Framework.
- Ethereum Blockchain
Based on the Ethereum blockchain, the Mavin patform utilizes ERC20 tokens powered by the Raiden Network
for its ecosystem. The MVN Token can be bought with and exchanged to fiat
Scalability approach and workflow
Mavin differs from other influencer marketing platforms in that its user base is bottom up, starting from
the very small nano influencers. A typical platform struggles with the sheer number of influencers
they need to handle and reward – that is one of the reasons nano and micro influencers have fewer
opportunities compared with their bigger competitors. Mavin is based on a blockchain-based application
with a self-maintained quality verification framework – an approach that lays the foundation for a
highly scalable platform that is able to maintain high quality standards.
• The Marketer places a campaign on the Mavin platform which will be automatically matched and
assigned to the applicable influencers based on their profile and specialization type.
• Influencers see only appropriate campaigns in their dashboard and may spend influencer points
to participate in them. Since the influencer has to spend points it will prevent the platform users to
participate in campaigns which do not match their profile.
• As soon as the social media mention has been provided to the Mavin platform, the Quality Verification
Framework steps in. The first layer of quality verification is done by Mavins A.I. engine
powered by Google and IBM technology. The second level of quality verification is done by the
platform users itself. They verify random social media mentions for different criterias and will earn
quality verification points which can be exchanged to MVN tokens.
• The campaign will pay a reward according to the final quality verification score and the users
influencer profile score according to the reward and scoring model. A negative quality verification
score will not get any reward.
• Depending on the campaign type different types of rewards will be granted. The participants will
be rewarded in MVN tokens, Influencer Points and/or Quality Verification Points.
The Mavin platform will start with four core campaign products that a marketer can place within the
Mavin platform. In their dashboard, influencers will see only the campaigns in which they can participate
based on the filter criteria the marketer has set. In the interests of quality, we have introduced
influencer points – an internal reward system that helps us drive, educate, verify, rank and qualify
the status of the influencer and quality of their posts. An influencer interested in one of the tendered
campaigns must verify their interest through ‘payment’ for their participation with influencer points
from their inventory. Later in the process, the influencer ‘earns’ these points through delivery of
the booked campaign. At the end of this pipeline, the influencer can exchange their earned points
(through MVN tokens) for ETH or cash.
Each campaign product has the basic criteria from which the marketer can choose:
• Target Cost-Per-Mille (CPM) → defines budget for campaign
• Filter (granularity based on product type)
The products also have their own character in terms of targeting possibilities or reward structure:
Mavin hashtag campaign
This campaign is similar to a keyword campaign with Google AdWords. Besides the basic criteria, the
marketer must narrow down the campaign to a geographical region in which it wants to target the
influencers. In addition, it has to add the hashtag or a combination of hashtags for which an influencer
will be paid at the end of the campaign. By sticking only to the geographical filter, this kind of campaign
will be driven mainly by influencers, who help to give an understanding of the market dynamics
by reporting the results to the marketer. Hashtag campaigns will be rewarded with influencer points.
A competition is a mix between a hashtag and a direct targeting campaign, but with greater flexibility
in terms of the reward structure. A competition allows different kind of rewards to be set, such as
modified multiplier campaigns or campaigns where the influencers must post a specific type of content.
The Mavin platform may use competitions in its own interests to balance the Mavin ecosystem;
for instance, the platform may launch specific verification campaigns to increase the reach of the
quality verification framework. Competitions will be rewarded with influencer points or MVN tokens.
Mavin geo-local campaign
This geo-local comapaign is like a competition but the main difference is that it will only appear in the
users dashboard if he is near by the specific location. The GPS function of the users mobile device
will be used to determine if any marketer has placed a competition around the users current location.
Mavin direct targeting
The direct targeting campaign allows all available filters. For instance, a marketer can set the minimum
number of followers an influencer must have and other influencer-specific criteria. In contrast
to a hashtag campaign or a competition, the marketer provides a detailed briefing. The social media
mentions must be approved by the marketer beforehand. This is the campaign type with the lowest
number of potential influencers due to its very explicit nature. Direct targeting campaigns will be rewarded
with MVN tokens.
Quality verification framework
Fake influencers and low quality social media mentions are serious problems for marketers. Although
a few macro influencers is not a big deal, ensuring the quality of hundreds or thousands of social
media mentions is almost impossible. For that reason, the Mavin platform has an integrated quality
verification framework, which consists basically of two main pillars that ensure only high quality social
media mentions are rewarded.
Quality layer 1 – AI verification
The first level of verification occurs automatically through use of the artificial intelligence frameworks
from Google and IBM. The posted image will be categorized and matched with the hashtags to gain
an understanding of the picture and hashtag accuracy. In addition, the comments will run through a
sentiment analysis to categorize the overall sentiment as negative, neutral or positive. The combination
of these measurements will determine the first part of the quality verification score.
Quality layer 2 – human verification
The second level of verification is powered by people; that is, users of the Mavin platform. Verifications
will be rewarded with quality verification points that can be exchanged for MVN tokens. Every
human verification must be checked through several criteria, with several verifications per social media
mention. This will result in a consensus per category; if a verification is not in agreement with the
consensus data, it may be an indication that the verification was not truly human or done very sloppily.
This will result in a negative impact (e.g. decreasing score) for the relevant user.
Verifications performed by platform users will be rewarded with quality verification points that can be
Reward and scoring model Formula
The reward an influencer receives from the Mavin reward system depends on their score:
The first parameter (‘influencer profile score’) can be controlled by the platform user, while the second
parameter (‘quality verification score’) is determined by the platform’s quality verification framework,
which consists of AI and human verification layers.
Influencer profile score
An influencer who participates successfully in a campaign will be rewarded with influencer points;
these points can be spent to increase the user’s influencer profile score. An influencer can increase
their specialization in various categories in their profile. For instance, a fashion influencer will be able
to increase their reward return for fashion-specific social media mentions if they spend influencer
points to increase their profile sharpness. They can also spend influencer points to increase the multiplier
for MVN tokens or quality verification points rewarded by participation in competitions.
Since an influencer will not spend points on categories in which they are not interested, Mavin will
gather an in-depth understanding of the influencer’s profile and user type. This is particularly helpful
in direct targeting campaigns or for KPI reporting to marketers.
Quality verification score
Each social media mention will be rated by the Mavin quality verification framework. The two-layer
verification gives a highly accurate indication of the quality of the specific social media mention; for
example, the accuracy of the picture in combination with the hashtags. The better the quality of the
verification score, the higher the multiplier for the reward in influencer points.
MVN tokens are released based on Ethereum blockchain ERC 20 Token Standard and are used as a
mechanism to reward contributors to the platform.
Tokens can be acquired through the ICO as a speculative tool for initial buyers, received in return
for contributions to the platform or purchased through one of the exchanges or from the platform’s
In addition to the MVN tokens, the Mavin platform uses an internal scoring system. Influencers gain
influencer or quality verification points by contributing to the platform. These points by design are not
based on the ERC 20 Token Standard due to their micro-transaction nature and therefore high costs
of gas for transactions. Nevertheless, the internal scoring system and the corresponding points are
based on the Raiden Network to make use of the blockchain technology.
The platform itself has a reserved 18% pool of the total number of tokens. This reserve will be used
explicitly to reward platform contributors. If demand for tokens increases from marketers, it may be
necessary to buy back tokens from exchanges at the current market price; in such an event, this will
serve to increase their value. Tokens that come back to the system will be reused to reward contributors.
Points for MVN tokens
Points rewarded by the Mavin scoring system can be exchanged for MVN tokens at the user’s discretion.
However, since MVN tokens represent monetary value, the Mavin platform will use differing exchange
rate according to the influencer’s country of domicile. The exchange rate per country will be
based on the concept of purchasing power parity (PPP), which compares different currencies through
a market ‘basket of goods’ approach. According to PPP, two currencies are in equilibrium or at par
when a market basket of goods (taking into account the exchange rate) is priced the same in both
countries. Instead of using a basket of goods, the well-known Big Mac Index will serve as the basis
for the calculation. The Big Mac Index, also known as Big Mac PPP and published by The Economist,
is used to measure the PPP between nations using the price of a Big Mac as the benchmark.
The PPP formula is defined as follows:
MVN token for ETH
MVN tokens can be exchanged for ETH via the platform’s internal exchange or by transfer to external
wallets/exchanges for the purpose of sale.
The roadmap and adoption plans of the Mavin platform include an even more convenient route
through partnership with TenX or Monaco. Both have already created a blockchain-based solution to
make digital currencies spendable anytime and anywhere. With such a partner, the platform’s users
will be able to use their tokens as fiat money.
Token distribution event
We will ensure that the MVN token is tradable on major exchanges. Although we cannot guarantee
substantial liquidity levels until the platform is fully deployed, we will make every effort to enable
growth of the liquidity market from the start.
If contributions of less than ETH 2,500 (approx. USD 750,000, depending on development of the
exchange rate USD/ETH) are submitted to the smart contract system, the project will be deemed to
have failed. Contributions will be able to be withdrawn back to the address used to transfer the ETH
to the smart contract system.
Escrow of Funds
All funds raised during the ICO will be held in a 2 out of 3 multi-sig wallet that will include licensed fiduciary
agents as two of the signatories. All funds raised in the pre-ICO will be made available immediately
for the purpose of promoting the ICO. ICO funds will be released in three month tranches to
cover expenses, with the flexibility to adjust amounts in response to current market conditions.
A finite amount of 4 billion tokens with the ticker symbol MVN will be released for the ICO at a base
price of 30,000 MVN per ETH 1.
The ICO will be conducted from November 22 to December 16, 2017. Tokens will be allocated as
Through the ICO, we plan to attract up to ETH 80,000 (approx. USD 24 million, depending on development
of the exchange rate USD/ETH) and distribute up to 2.4 billion tokens to Mavin investors
participating in the crowdsale.
Of the unsold tokens, 50% will be deposited into a newly created reserve pool; the other 50% will
be allocated between all the ICO participants in relation to their share of the total contributions made
during the contribution period. In this way, the total amount of the internal platform currency will
always be constant and equal to 4 billion tokens. Tokens kept in this manner by the reserve pool will
not be sold below the ICO price during a vesting period of one year.
All tokens kept in the reserve pool as well as all tokens distributed to the Mavin team members are
subject to a 1 (one) year descending vesting / lockup-period implemented in the smart contract system
and therefore may not be transferred in accordance to the following schedule:
• First year upon start of the Initial contribution period: No transfers possible
• 13th-30th months upon start of the Initial Contribution Period: 40% of the tokens shall immediately
become transferable, while another 3.33% of the remaining tokens shall become transferrable at
the beginning of every of the 18 remaining months.
A whitelist is a special form of token presale. During this stage, all applications for the MVN token
presale will be collected.
The token presale through the whitelist program will run before the start of the ICO, from October 8
to November 19, 2017.
Participation in this program guarantees a spot in the upcoming token distribution event and a reduction
of the transaction costs on the first day of the token sale. At this stage, it will also be possible to
buy tokens for fiat money or other crypto currencies other than ETH on request.
Early contributors may receive bonus tokens if they buy before the soft cap has been reached. Such
transactions will receive 10% bonus tokens; thus, if ETH 1 is spent, the buyer will receive 33,000 MVN
In addition to the bonuses, up to 2% of the total number of tokens will be given to reward individuals
and partners for their support of the ICO. Tokens will be allocated as follows:
Bonus tokens earned during the bounty campaign will be credited promptly after closure of the ICO.
Use of funds
The funds raised through the ICO will be spent in the following ways over the next two years:
Since every influencer will be paid from the day the platform goes live, a major portion of the budget
will be distributed as rewards from the company’s funds. This quota will decrease over time as brands
start to spend their marketing budget on the platform and increase the rewards for their keywords or
competitions. The initial investment in influencer development is crucial for reaching influencer coverage,
buying back tokens and gaining traction in general.
Depending on the fundraising result and according to the adoption plan, the expenses for marketing
will increase in proportion to the amount raised because of the parallel entry to different markets as
well as the simultaneous implementation of different social media platforms.
The adoption plan is designed to take the initial funding result into consideration. Depending on the
result of the token distribution event, the features and geographic and platform-related roll-outs will
be launched in parallel. However, it is the intention to introduce all the higher tier milestones sequentially
and with a longer time horizon, since they need to be funded by the platform’s earnings.
Initial social media platforms roll-out
Depending on the funding result, the Mavin platform will implement one or several social media platforms
on which an influencer can interact with the Mavin platform.
Initial geographical roll-out
Mavin is designed to be a global platform used by marketers and influencers worldwide. Nevertheless,
business development efforts in the specific markets are essential to support organic growth of
the platform and its user base. Depending on the funding result, Mavin will start market cultivation efforts
in one or several key regions, divided into market development, sales and education. Education
plays an important role and Mavin will introduce partnership programs to educate and certify platform
Initial exchange options roll-out
Crypto currencies are not yet widespread in the mass market and not everyone is able to handle
the technical trading process. Mavin will provide an internal exchange for marketers and influencers
alongside the third-party exchanges. In addition, Mavin intends to partner up with two crypto currency
card providers to make payment with MVN tokens as convenient as possible.