What is Atlas?
Atlas is a universal blockchain platform for the travel industry. It aims to connect businesses and consumers to a distributed smart network for user data, content and transactions. This platform will eliminate rent seeking middle men, give back control of user data to the consumers, increase efficiencies for the entire value chain, and bring about a fairer distribution of economic benefits in the travel ecosystems.
The Atlas infrastructure is comprised of three distinct layers: The core blockchain layer stores all venue information/content, transactional and user data on a distributed ledger and off-chain storage and operates with custom smart contracts. The service layer provides API access and payment gateway for 3rd party developers and allows travel brands and other IP owners to issue their own ATLS based tokens. And lastly the application layer where Atlas’ own dApp as well third party dApps bring the power of this travel blockchain to life.
How are you different from other Travel ICOs?
Atlas is building the first public blockchain and protocol for the ravel industry. Atlas also benefits from the extensive existing partnerships with the world’s best hotels, travel suppliers and consumer brands that are already established by Zanadu, an affiliated company behind the same team and a community of more than one million Zanadu users. This allows Atlas fast adoption for real-world usage.
Most other travel ICO projects, are variations of DApps in accommodation booking, built on different main-chain infrastructures. Their scopes are limited to the promise of reduced commission cost and increased transparency through the usage of Smart Contracts on Ethereum or NEO blockchain. It does not address the critical step in upstarting the consumer’s traffic and it fails to involve broader travel industry participants. The long term success of a tokenised economy is about building an ecosystem that provides tangible benefits for all stake holders, content creators, businesses, and 3rd party DApp developers.
Atlas is about building an entire ecosystem that connects all physical locations and business venues to a digital atlas, enabling decentralized storage and exchange of content, user data and transactions between consumers and businesses. The Atlas Blockchain and the Atlas Protocol are the backbone of this ecosystem, with the Atlas App as the user-facing DApp that kick-starts the process.
Atlas is completely open-source and all-inclusive. Hotels, restaurants, her business venues, 3rd party developers and travel entrepreneurs can all tap into the various APIs on the Atlas Protocol and access the cross-vendor user and transactional data that is stored on the Atlas Blockchain. The infrastructure also enables them to build independent DApps and launch their own token offerings without the need of developing their own blockchain and building a community.
Who is Zanadu and how do they relate to Atlas?
The team behind Atlas is also the team behind Zanadu, the leading high-end travel agency and travel lifestyle media channel in China.
How do you work with Tencent and other investors?
With backing from prominent investors including Tencent Holdings, Matrix Partners, Ledger Capital and Prometheus Capital, the team behind Atlas has successfully created Zanadu, the market-leading luxury travel platform in China. Zanadu have built a community of more than one million influential and loyal users through the use of successful and established partnerships with the worlds best hotels, travel suppliers, consumer brands and media platforms. These strong relationships, networks and user-base are already in place and will allow Atlas fast adoption for real-world usage and rapid expansion in the travel industry.
Have any of the Zanadu partners shown interest in signing up to Atlas?
We have already spoken to many of our partners, which have all shown great interests in participating in the Atlas App and Atlas Ecosystem once it becomes available. We believe nearly 100% of Zanadu current suppliers and partners will opt in on Atlas as well. There are only gains and no costs in doing so. It is cheaper in terms of commission cost, has no cost or risk in participation and would not require any additional effort for system integration. We are also developing a pilot program with select strategic partners where we will provide additional incentives and marketing credits on the platform to grow the ecosystem.
Will Atlas have masternodes?
Atlas uses a delegated proof of stake (dPoS) consensus system, which utilizes delegates rather than masternodes to verify transactions on the system. In Atlas, the top 21 delegate accounts with the most votes will become “active delegates” and will have the ability to create blocks. The remaining delegates are “standby delegates” and can advance to the top 21 list by acquiring enough votes from the Atlas community. Delegates who behave dishonestly or incompetently will be exposed to the community and when a delegate drops below a certain rating, users will remove votes from the delegate in question due to poor performance and vote in someone else.
To become a delegate, you need to register a delegate account on the Atlas ecosystem. All newly registered delegates will begin as standby delegates with a rating of 0% and will need to earn votes from the community to be promoted to an active delegate before they will have the ability to create blocks.
Is there a bounty program?
Pre-sale investors will receive a 20% bonus, subject to AML and KYC. Limited availability and lottery system may apply.
When do you plan on releasing Testnet and Mainnet?
The Atlas blockchain will be deployed on Testnet in the third quarter of 2019. Once testing is complete, we aim to launch Atlas blockchain on Mainnet in the fourth quarter of 2019.
Where are Atlas based?
Atlas is based in Caymen Islands with operations lead out of Singapore.
How does Atlas plan to handle the raised funds?
50% of the raised fund is used for R&D and platform development. 20% for marketing, 20% for operational expenses and 10% for advisory.
Where will Atlas allocate the tokens?
ATLS will initially be distributed as an ERC-20 token, which will be mapped over to our blockchain following the release of our Mainnet in Q2 2019, keeping to its value with an exchange rate of 1:1. The token sales will represent 35% of the total initial token supply and 25% is for ecosystem growth, 15% for team and advisors, 15% for the blockchain rewards pool and 10% for company reserve.
What is the vesting period for Atlas staff?
Atlas employees will be subject to a 3 years vesting period, 33.3% vested at the end of each year, with a one year cliff.
Is my country of residence prohibited from entering the token sale?
The token sales are not open to the citizens and residents of China (mainland), US, and Singapore, and are subject to strict AML and KYC procedures.