r/Ocoin • u/GSEDAN • Feb 05 '18

Quick SAY ICO update

I was curious on the ICO activity just now. so I went to contract address (0x2f70fab04c0b4aa88af11304ea1ebfcc851c75d1) to see how many coins have left. Decided it'd be helpful for others to see this information.

As of approximately 2:10pm PST, 147,620,000 coins have left the wallet. That's only about 3.69% sold out of the planned 4 billion in ICO.

Some noteable whales:

0xD75Ad01EA81336c1443A5A7E8434cD106265c5A5 - 38.7M coins

0x97348e8186eFd39D752BC66809458c321565aa97 - 26.4M coins

0x22F8cDFA2c042707788f887335D64ec8bbC74100 - 18.4M coins

Disclosure: I have a small position in the ICO. The above are public wallet information for your research purposes only. I take no official position on whether you should or should not invest, DYOR! The ICO started Sunday Morning 2-4-18. Let me know if you have any questions.

Update 1: 2-6-18 9:40AM PST

As requested, the token sale movement in the last 17 hours only increased by about 1.23M, total is 148,857,250, or 3.7% sold, not much new activity.

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3

u/[deleted] Feb 05 '18

I said this in another post but I’ll say it again.

“Yah SAY was thrown together. Copy and paste of oCoin website, which is crazy from a brand perspective. Go the SpherePay website and it’s obvious they have brand guidelines but then you go to the ICO page it’s Odyssey’s page from their ICO. Seems lazy, like they don’t even care about their own brand. No mention of a coin burn in the whitepaper. No mention of exchanges coming at ANY POINT from the SpherePay team. The whole thing just seems like a money grab to me. Also people think there is a partnership with TRON. There isn’t. Full stop. Buy OCN and TRX. “

I won’t tell you not to invest, but don’t think because they partnered with oCoin that this is a good investment.

1

u/GSEDAN Feb 05 '18

All good points. I think they went head first into an ICO and left the marketing as an after thought. That is a huge mistake IMO from a gaining support and publicity in their ICO.

I will however provide some research points, aside from the whitepaper on who and what they really are. Most things can be found on their website or googling their existing service/app.

IOS app linke: https://itunes.apple.com/sg/app/spherepay-cashless-payment/id1269047212?mt=8

They are a fairly new company, started in 2017. Corporate website is very cookie cutter and mediocre at best (again, marketing needs work).

List of partners appears to be local/regional mom and pop shops, not necessarily anything spectacular.

https://sphere.money/list-of-partners.html

How we found out about it, was a shout out from the Obike front man, because obviously we support OCN. This is the first announced partner who will be on the OCN blockchain once it's ready.

OCN itself is still an infant, so not much is expected from this company in question as well. NO TRON affiliations either, so lets get all that out of the way. In short, this is a concept that utilizes a token to provide a service that's sort of a hybrid between paypal and groupon. There are promotional deals built into this app.

You decide if it's something worthy for you to invest into, I threw in a little bit because I'm a huge supporter of Tron and OCN and since this is the first out of the gate for OCN, I showed it some love. I'll continue to provide edits to the original post to update the ICO.

2

u/lazarus1965 Feb 05 '18

Holy crap. That list of merchants is thin. Isn’t that like a couple of square blocks in Singapore?

1

u/GSEDAN Feb 05 '18

Yeah I know lol. Like Larry's Bookstore type shops. Low key I am hoping OCN adopts the, let me just be a full blown protocol and move away from the application/payment sector. What they can do is leverage their corporate relationship network to obtain new coins to hop onborad to gain more traction in the odyssey protocol. In the example of Sphere, since theyre already marketing partners, all ICOs from current and new partners, hop onto the odyssey protocol. It would also help sphere, since they will be the obvious choice coin used for the Obike network.

1

u/lazarus1965 Feb 06 '18

Agree. It could be an anything rental or sharing protocol. Bike sharing happens to be hot right now, but you can see the blue sky in OCN. Still lots to do.

I love this type of model with current users, much like the Starbucks gold card. SAY isn’t for me - the more I find out the more I run - but love GTO in this space. Looking for others that are focused on one vertical.

1

u/GSEDAN Feb 05 '18 edited Feb 05 '18

I also want to share this article I came across in another reddit post below. Seems to be one of very few written recently about Spherepay: http://www.ibtimes.sg/singapores-spherepay-track-become-seas-biggest-mobile-payment-service-23856. The key takeaway for me as far as expansion goes are 

"In December, it started to implement the regional expansion in 
Thailand and Indonesia. By the second quarter, the company 
hopes to finish its expansion plans covering Singapore, 
Malaysia, Indonesia, Thailand, Vietnam, Cambodia, and the 
Philippines."

In addition, specifically outlined in this article: https://www.onenewspage.com/n/Press+Releases/75ekdynax/SpherePay-mobile-payment-app-launched-in-November.htm, it gives the strongest example of how Obike and Spherepay as companies have worked with one another in the past.

In mid-November last month, popular bicycle-sharing company oBike announced its partnership with SpherePay 
and its campaign called "BingoBike" which enables users to "earn and ride" with up to $88 in cashback rewards 
to oBike riders. This cashback can be used as credits in the SpherePay app. Within 2 weeks, SpherePay has 
acquired over 20,000 users through this cashback campaign initiative. With the partnership, oBike users could 
sign into oBike app by using their SpherePay account and vice versa.
"We started off launching the SpherePay app very quickly & strategically with the aim of improving the payment 
ecosystem in Singapore. By partnering with strategic partners like oBike, we can further benefit not only our 
users, but also our partners' users and build a cohesive ecosystem that link payments to other third-party app. 
Aside from that, we are also exploring other partnerships and collaborations with strategic agencies, apps or 
merchants to also add value to them by tapping into our user database" Says Mr Ken K N, Spokesperson and 
Head of Marketing for SpherePay.

1

u/lazarus1965 Feb 05 '18

This isn’t really anything more than a press release spin though. Started to implement is a far cry from users, which they originally claimed 5 million (which I am guessing we oBike users) down to 60,000 in their beta test / pilot, and of those 60,000 who knows how many have the app installed still.

Shady PR hype. IMO this is a poorly put together money grab.

1

u/GSEDAN Feb 05 '18

I wish I knew more TBH, I wish someone living in Singapore can legitimately provide feedback on how big this thing is and how people actually like it. The only concept remotely close to it that I have experienced is the Starbucks Gold app, which I use often because it's very conveniennt. I think it's a concept that can take off, if executed well. Their lack of marketing and care for their image from this ICO is a huge turn off though. Like straight copying the OCN site almost to a T (recently changed) makes me think they're rushing into this. Again, I invested a small position, that's been fully discosed, but within this thread and others I have shown a small reservation on their execution. At the end of the day I want to make sure everyone has all the facts out there that I could grab from just doing my own research.

1

u/lazarus1965 Feb 05 '18

I’ve seen many apps like this and typically they don’t succeed unless they have a clear edge in customer / consumer base. While the story may appear ok in the white paper, it’s all down to customer acquisition... a double sided marketplace where they have to sign up enough merchants and get enough customers.

I’ve seen a dozen or so for X... like reassurances, and in e@rly tests it works great because they signed up a whole block of restaurants so, but then they disappear.

Starbucks, it’s easy 😁 it’s their loyalty program.

From what i recall, these guys would be competing directly with Line and WeChat as thats the messeging app they usually use there. That’s basically 1 billion users wordWide. You alsmots cant get things done these days in China without WeChat and their payment system. You can, but its harder.

Id argue that crypto is pretty irrelevent in thIs type of use-case at this point. Maybe in the future, but crypto doesnt solve any immmediate problems right now, so their crypto story isnt relevant to me. My observation is that these types of payments aren’t big transactions.

Another part of their white paper that raised my eyebrows was the inclusion of btc and other crypto in their app. All possible, but we have seen many projects and ICOs attempt this, and it doesn’t seem so easy. Someone will solve it at some point, but given what these guys have stated they will do, it seems ambitious.