The cryptocurrency scene is changing all over the world. Currently, only 0.05% of the world's population uses cryptocurrency and this is going to change in the future given the rise of cryptocurrency in recent times. Educating the world about cryptocurrency and how to use it is a great challenge and must be solved. Mingo plans to solve this problem and make cryptocurrency accessible to masses. Simply put, Mingo is an interconnected set of products comprising of the MingoMessenger, MingoWallet and MingoCoin. Mingo aims to open the world of cryptocurrency to the people. MingoCoin is its cryptocurrency which comes with a built-in tutor wrapped up in a multiplatform messenger, i.e. the MingoMessenger.
THE PLATFORM
During the very first cryptocurrency transaction that a user makes, he/she will be walked through with a tutorial. A simplified tutorial hiding all the intricacies. It will teach users about cryptocurrency by setting MingoCoin as the default currency. This will help the user get comfortable until he/she is ready for more advanced features.
PRODUCTS
MingoMessenger
It is an app working on Android and iOS available in over 160 countries. The best feature about this app is that it merges all your messaging apps into one meaning no more switching between different messaging apps. Supported messaging apps are: Discord, Facebook Messenger, IRCCloud, Skype (only in beta), Slack, Steam (gaming platform), Telegram (in beta), and Twitter. It aims to include these messengers in the future: Blizzard, Google Hangouts, Instagram, Kik, Line, LinkedIn, Origin Chat, Renren, WeChat, and WhatsApp.
It allows merging contacts from all these different apps into one Mingo contact, instead of multiple accounts. Here, all your conversations from different apps can be accessed at one place. There are various other feature like video and voice messaging, sending attachments, sending money, etc.
Mingowallet
It is an incentive and reward-driven wallet which guides you with the help of a tutorial. You are awarded 10 MingoCoin (MGC) on connecting your messaging accounts to the MingoMessenger. There will also be rewards if you refer this app to your friends. You simply have to make a transaction of 1 MGC with your friends. MingoCoin will be the standard cryptocurrency; however, it also supports other currencies like Ƀ, ETH, XRP, etc. The best thing is that it teaches you about cryptocurrency transactions in a very progressive manner hiding all the complexities initially, and revealing them only once you are comfortable.
It is based on the principle of 3 Rs: Reminder, which includes notifications, in-app messages, Routine, and Reward, in the form of achievements and badges. The whole concept is based on blockchain and the ability to distribute money without a central authority.
It also makes cross-currency transactions simple using the Interledger Protocol.
MingoCoin
It is the core unit of Mingo acting as its in-app currency. Mingo has partnered with Xunison and CYFX to expand its user base and eventually increase the value of MingoCoin.
ICO
- Presale
The presale will be the most important step toward a successful ICO. All funds raised during pre-sale will go towards the development of MingoMessenger, Mingowallet and MingoCoin which will be released in the market in the first quarter of 2018. Ethereum will be the only accepted currency during pre-sale.
The allocation of pre-sale budget is as follows:
• Research & Development: 44%
• Sales & Marketing: 22%
• Operations Development: 15%
• Security & Legal: 12%
• Customer Support: 5%
• Contributor Relations: 2%
The token symbol will be MGT, short for MingoToken. MGT will have an exchange rate of 1:1 with MGC. After ICO, MGT owners can redeem MGC using MGT. 70% of all MGC will be issued to Pre-sale and ICO participants. The total supply is not known at this time as it depends on the total MGC issued during the fundraising. However, our current estimates are that 800,000,000 MGC will be issued. 10% will be allocated for Mingo User Rewards. 20% will be reserved for founders, early investors, and future employment incentives.
REVIEW
MingoMessenger is a really good app and I think it will help people by bringing all messengers at one place. This will make messaging more convenient. Its idea of showing tutorials to people and making them comfortable with cryptocurrency also sounds really good. However, they need to be aware of competition from other cryptocurrency wallets like Zonto who have also recently released their products. Overall, their product looks good and should fare pretty well in the market.
Written By:Kishan748