A newly announced startup is raising funds via an ICO to develop the world’s first decentralized search engine platform for products.
Ahoolee, as the startup and the platform titled, is purely dedicated to online shopping worldwide. It proposes to collect and index from open sources, all while utilizing blockchain to confirm the authenticity of products. As a result, Ahoolee manages to solve the shortcomings and requirements of traditional online marketplaces, including timely data indexing, price fraud, costly referral payments, etc.
Ahoolee undertakes such issues and gives it a blockchain makeover. At this platform, users will have the ability to compare prices on any store over the web. It will particularly assist those stores which list low products prices, but get unfairly sidelined over paid/sponsored search listings. Ahoolee proposes to collect information from the internet automatically and to put the information in the free system while ensuring constant data indexing.
“The mission of our project is to enable any person to find any product on the web, see ALL the shops where it can be purchased, and compare them by price.” — an excerpt from Ahoolee’s whitepaper states. “The instrument makes it possible to analyze the entire e-commerce market fully and it will be available to everyone.”
Which is why they are conducting the public sale of its institutionalized tokens AHT, which stands for Ahoolee Tokens. These tokens will be generated as a result of Ethereum blockchain fork, and the total number of issued tokens will be limited to 100 million.
The ICO
The Ahoolee ICO round has been distributed in two stages: Pre-Sale and ICO seed-round. In the pre-sale round, which had started in July 2017, the Ahoolee team has listed 10 million AHT for sale at the price of $0.02 per AHT. By doing this, the startup aimed to raise at most $200,000 to ensure adequate funding for the public launch and the subsequent marketing of Ahoolee platform and its ICO.
Coming to ICO seed-round, it has already started on August 28, 2017, and will run until September 11, 2017. In this round, a total of 25 million AHT are being sold at the rate of $1.66 per AHT. The round has a hard cap of $10 million.
There will also be another ICO round in 2018, the dates of which are yet to be finalized.
“We’ve got information from security law advocate that our token is a utility token, not a security. So US investors can participate in our ICO without restrictions,” reminded Ahoolee.