What is Aphelion?
Aphelion is a Decentralized P2P Exchange protocol being built on the NEO Blockchain. The big difference between Aphelion and some other Decentralized exchanges is that Aphelion is working to have it’s exchange reside entirely within the blockchain. The exception being the user interface, which is needed to help people access data and make trades. It is important to note that this is also an open source protocol that other developers can use to create their own decentralized exchanges with.
Anyone familiar with current decentralized exchanges on other Blockchains knows the current struggle with using them. They are generally very user friendly and can struggle when the entire network is being flooded with transactions. This is one reason I like Aphelion’s decision to utilize the NEO blockchain. The NEO blockchain can handle up to 10k transactions per second, which is leaps and bounds over some other networks. Scalability issues will likely be resolved on other Blockchains, but it is hard to tell when that will happen.
Even though Aphelion is using the NEO blockchain, they have plans to eventually bridge the protocol so that it becomes blockchain agnostic. What does this mean? If my friend has BTC and I want to buy it with NEO, I can. Cross-chain transactions are a very hot topic, so it is great that Aphelion is already envisioning this in their project.
The Aphelion Token (APH)
The APH token is considered a utility token and does not grant equity or voting rights within the company. It also does not pay out to holders of the tokens. So what does the APH token do?
The APH token acts as a digital escrow, which they term as a Liquidity Verification Device (LVD). It performs the following actions:
- Gathers terms between buyer and seller
- Reconciles the proposed smart contract
- Verifies liquidity
- Settles the DEAL (Distributed Exchange Asset Ledger)
This is a very simplified overview of the token, so be sure to check out their white paper if you are interested in the deeper technical explanation. In the end though, you will need these APH tokens to exchange your digital assets with another party.
Aphelion ICO Details
Important: Contributions can be made with NEO, BTC, and ETH.
The public sale will run from the 1st block on 11/15/2017 through the last block on 12/7/2017, or when all 220Mil APH tokens are sold. There are 3 rounds during this period, with the first 2 rounds receiving a bonus. Details on the 3 rounds are below:
|Round||Start Date||End Date||Duration||Bonus||Effective Price|
|First Block||Last Block|
|First Block||Last Block|
|3||11/23/2017||12/7/2017||14 Days||No Bonus||$0.20|
If everything sells out in the 1st bonus round, the cap would be ~$28.66Mil. Assuming it lasts through all 3 rounds, the cap will likely end up around $32Mil. This cap is in line with a lot of other ICOs right now, so nothing to be afraid of. If this ICO does not full sell out the unsold tokens will be burned!
Most of the proceeds will go towards development, with a small slice going towards Marketing and R&D. Almost half of all tokens are being sold to the public (combining public and pre-sale).
At the time of this writing the current team is made up of 3 people, with quite a few advisors. The 2 founding members (Ian Holtz and Mike Jaltuch) have another company they co-founded in June 2016 that is still operating. All the team members and advisors can be found here. There are links to each of their LinkedIn profiles, so there is a lot of transparency with the team which is always a good thing. A lot of these projects also start out with small teams and begin hiring once funds are raised, so this is not really an area of concern.
I really like this project because it is working towards a fully decentralized exchange and open source protocol. Having the vision of being blockchain agnostic makes it a pretty ambitious project, but they are aligning themselves well to make it a successful project. Be sure to check out their video here for a quick visual explanation of Aphelion.
Links to Aphelion’s social channels and info:
Twitter - https://twitter.com/AphelionToken
Facebook - https://www.facebook.com/apheliontoken/
Telegram - https://t.me/AphelionToken
Whitepaper - https://aphelion.org/wp.html
Website - https://aphelion.org/