FOAM Protocol

Protocol

The map of world driven by consensus.


FOAM Protocol ICO Review


FOAM protocol is building 3 important things:

  • Crypto spatial coordinate standard – enables Ethereum smart contracts to be linked with an open and interoperable standard for location,
  • Proof of location protocol (static and dynamic),
  • Spatial index – a visual blockchain explorer.

Foam protocol team is young but has experience with the blockchain, they have solid advisors, great idea that will be a real impact maker if it gets adopted by users because it truly represents a decentralization in bringing a location to the blockchain world. It will surely be beneficial for a lot of present and future maps, IoT, property registrars, supply chains and apps.

It looks like they didn’t give a lot of intention for marketing. Maybe they are missing some funds because they didn’t have a presale, they only raised some seed investments last summer. A token sale is scheduled for the end of July, and still no roadmap.

They have announced that all token buyers have to pass an Assessment Test, all tokens are locked until mainnet (1 month after Token Sale), and nobody can sell token before they pass Proof of Use (proof that states buyer had used their tokens for the initial purpose). There will be no bonuses or discounts.

 

Partnerships

Member of:
Trusted IOT Alliance – leveraging blockchain infrastructure to secure and scale IoT ecosystems.
Ethereum Enterprise Alliance – connects Fortune 500 enterprises, startups, academics, and technology vendors with Ethereum subject matter experts.

Partnerships:
uPort – they share the same goal of giving users self-sovereign control over their location data.
Open Geospatial Consortium (OGC) – is an international not for profit organization committed to making quality open standards for the global geospatial community.
Mobility Open Blockchain Initiative (MOBI) – using blockchain and other techs to make mobility safer, greener, and more affordable.

Competitors

XYO Network is the first decentralized cryptographic-location network that made smart contracts to access the real world. But they are relying on GPS which is centralized.
NAVI – a decentralized global unified address platform for real and virtual worlds, also relying on GPS.
Fysical – a decentralized location data market, also relying on GPS.

XYO Network – raised 48M during ICO. No info about currently market cap.
NAVI – currently has a market cap of 1,65M, ATH market cap was 8,6M. They raised 20M during ICO.
FYS – will be raising 18M in July.

FOAM is making all from the beginning focusing on independent location determination using their own network.
From TG admin: “FOAM is the only one to my knowledge that solves Proof of Location with a Byzantine Fault Tolerant Time Synchronization protocol. Additionally, we are offering many spatial tools and standards such as the Crypto Spatial Coordinate encoding standard any smart contract can use for free as well as the Spatial Index web app for spatial dApps to use as their UX. Our Proof of Location protocol could create a winner and take all market. Our tools and open source libraries will empower a new generation of spatial apps on Ethereum.”

Hype
12423   7850   515   1500
Hype tools used:
Nothing

For now there in not much hype going around this project. They have more than 11k TG members, but not a lot new members.

Token price in USD
0,08$
Hard cap
24,000,000 $ (~101,899 ETH)
ICO supply
300,000,000
Total supply
1,000,000,000
Token % for public
30%
Currencies accepted
ETH
Crowdsale min. investment
100$
Crowdsale max. investment
3,000,000$
Bonus

No pre-sale discounts or bonuses. There will only be one price for the sale.

Token distribution

Foam Protocol distribution of tokens:

30% Token Sale Supply: 300 million tokens
25% Founders, partners, advisors, foundation, employees: 250 million tokens
10% Developer Grants Reserve: 100 million tokens
35% Mining Reserve: 350 million tokens

Team

Foam protocol team has 9 members.

Ryan John King | Co-founder, CEO | BA, Economics, Political Science, Cum Lade at the University of Massachusetts. He was a Research Assistant at Univ. of Massachusetts for 2 yrs., General Manager at Huff Gooden Architects for a year, and a Consultant at Urban and Spatial Practice for 2 yrs.

Kristoffer Josefsson | Co-founder, CTO | Master’s degree in Mathematics at University of Gothenburg and Researcher at Technische Universitat Berlin. Kristoffer has working experience as Associate, Geometer at Foster + Partners for 4 yrs., and he was a Founding Member of at BlockApps working as Blockchain geometer for 2 yrs and an early member of ConsenSys.

Martin Allen | Senior Blockchain Engineer | Ph.D. Mathematics at Central European University. Martin worked as Full-stack Engineer at VFILES for a year, and as Haskell Platform Engineer at BlockApps for 8 mos. Martin is an author of purescript-web3.


Advisors

Foam protocol has 2 advisors:

Alyssa Wright | OpenStreetMap Consultant and Advisor | Alyssa was a Founding Member OTP at World Bank Group for a year and after that Alyssa was a Vice President of Business Development and Partnership Mapzen at Samsung NEXT for 3 yrs. Now working as Board President of Open Street Map for over 4 yrs and Independent Contractor advising multiple startup initiatives.

Matt Liston | Special Advisor | CEO of Gnosis Ltd, (decentralized platform for prediction markets), Worked as Decentralized Autonomous Strategist for a year at ConsenSys, also Matt is a Cofounder of 2 projects: Augur (project in the cryptocurrency space aiming to build and market peer-to-peer prediction platforms) and nSuited for 2 yrs. (sale site with dynamic pricing increasing on a logarithmic scale).

No official roadmap yet.
The Spatial Index & Visualizer is currently in beta. Mainnet with Signaling and Static Proof of Location will launch within a month after the token sale.

Project phase

FOAM’s team developed The Spatial Index & Visualizer that is currently in beta, and have announced Chanterelle – a tool for managing solidity smart contract prototyping, testing, deployments, and migrations.

Whitelist start
16/07/2018 
Whitelist end
27/07/2018 
Private sale start
NO
Private sale end
NO
Presale start
NO
Presale end
NO
Crowdsale start
31/07/2018 
KYC
YES
Exchange date
TBA

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The map of world driven by consensus.


Expected ROI
Reveal
ICO starts in
31/07/2018 


Token Metrics
Hard cap
24,000,000 $
(~101,899 ETH)
Soft cap
15,000,000 $
Crowdsale min. investment
100$
Token price
0,08$
ICO supply
300,000,000
Total supply
1,000,000,000
Token
FOAM
Accepting
ETH