About MiRAK

Welcome to JMiRAK

The ICO Client can choose any combination of all the services listed below for 10% success fee of the funds we raise.

In addition, a commitment fee of must be paid upfront upon the signing of the agreement.

This fee is to cover the initial setup as follows:

1BTC for ICO Building Services.

1BTC for Fundraising Services.

1BTC for Crowdfunding Services.

3BTC for Incorporation Services in Norway (with full financial license)

Both services scopes are  included in the list below.

ICO Building Services

1BTC

Overall evaluation

ICO’s concept overall evaluation, including all existing elements and documents.

 

White paper creation

The client input is needed during this task.

 

Roadmap creating

This task crucial for the success of the whole ICO. It’s done in full interaction between the whole project team and the agency.

 

Landing Page

ICO’s website/landing page Including full ICO Mgmt Platform. Including 3 website parts:

- Landing page for visitors (standard template included) Any custom design is additional. Client is responsible for content editing.

 

- Investor Dashboard for mgmt for investors to manage their funds and tokens.

 

- ICO Admin Launchpad to manage the whole ICO from the powerful backend.


Alternative II: Using the client’s existing website and integrating modules 2 and 3 from the above.

 

Token Creating

ICO’s token or coin creation including the legal forming of the smart contract. Many ICOs have failed because mistakes in creating the Smart Contract. This task is done in interaction with the clients.

 

ICO’s sales strategy

Planning how to recruit new users and heat up for the crowdsale. One of the most important roles of an ICO is not only raising crowdfunds but also building the future user database, which will secure the success of the concept.

 

ICO’s marketing strategy

Marketing is the number one success factor in raising funds and building a new startup. We will be together building the perfect marketing plan for the ICO covering all important media channels and reaching out to the max possible portions of the targeted segments.

 

Creating marketing kits

Ads, articles, presentation video, etc. Video production costs are covered by the client. Distribution of video and all other kits is covered by the agency.

 

Marketing channels creation

LinkedIn, FB, Telegram, Medium, Reddit, Twitter, BitcoinTalk, Instagram, Blogger, etc.

 

Crowdfunding Services

1BTC+10%

Community management

On all the channels is a joined responsibility as the ICO team has to be active to serve their community.

 

Advisory & Team Invitation

Inviting advisory team. The agency can provide an standard advisor agreement template.

 

ICO Tracking Submission

Submission to 170 ICO tracking sites. At least 50 are guaranteed, including the top ones.

 

PR Broadcasting

Broadcasting press releases to 2000+ News sites and media. The client should contribute in the creation of the PR.

 

YouTube influencers

Get a loyal audience for your ICO from the leaders of the YouTube blockchain community.

 

Opinion Leaders

You will get reviews from top-rated media blockchain bloggers and blockchain experts.

 

Managing the presales, and ICO crowdfunding

Our professional ICO support agents will be in charge of the whole Token sales process from the first day until the hard cap is reached. Live chat attendance 24/7 during the full sales period.

 

The number of agents will be automatically scaled up so that no leads are ever lost or stay in a long queue waiting. The fixed fee covers the initial team setup. (non refundable). The % fee is calculated only on the total tokens value that are made available for sale

 

Fundraising Services

1BTC+10%

Investor Broadcasting

Submission to private investor pool 22 000 private investors (investors with $100k investments or higher).

 

Investor hunting

One-to-one investor introductions through our Investor Hotline (Call center). Our senior, high caliber fund managers call personally to investors and introduce the ICO opportunity.

We have 8 of the best fundraising agents in the industry, all of them are seniors, retired CEOs of large IT or financial companies and doing te fundraising to help startups. The call center addresses 22000 investors and the calls are the most effective way to bring investors on board. The definition of investors in our system, is only the entity that's proved to invest 100k or more per deal. We do not go for lower than 100k when we close cases.

 

Incorporation Services

3BTC

Since October 15th 2018, the Norwegian government has released a full act allowing companies to work legally in the virtual money landscape.

The new law focuses on the AML/KYC routines and procedures to enable financial companies to qualify as a legally financial service provider.

 

MiRAK is offering the full package of incorporation as follows:

 

- Incorporating of a Norwegian limited responsibility company.  1BTC

- Establishing of a corporate bank account with a full online access, possibility to add USD and EUR currency account.  1BTC

- Applying for the full financial license, including the D-number for EU citizens.  1BTC

The process for part 1-2 takes about 1 week. Part 3 takes 3-5 weeks after registering the company.  

The original page for the law can be found here (use google to translate it)

 

Post ICO (to be agreed on a case by cases bases)

 

Token Swap

We can get help your ICO to swap token with other strong ICOs to bring liquidity and hedge your token value.

 

Listing tokens on the exchanges

We can get listed your token on all the famous middle and top exchanges Medium-sized exchanges: OTCEED, Yobit, IDEX, Mercatox, Livecoin, Cryptopia, Lykke, Exmo, TokenStore, BTC Alpha, Coinexchange. Large exchanges: Bibox, KuCoin, OKEX, HitBTC.

 

Post ICO Development

We will give you the consultation about the solution or services that your ICO is built around. Reaching the crowdfund goals is not the end but the real start of your project.

 

 

MiRAK is a Norwegian software, sales and marketing company specialized in the Blockchain technology projects. We are helping startups to build and manage  their ICOs as well as traditional companies to migrate their infrastructure into the decentralized world. 

We are located in a classical mansion on the fjord side in Oslo. The place is a spacious historical villa with enough room for 60 persons over 4 floors. 

How to Setup a Successful ICO

To help founders with the ICO process we’ve put together a preparation checklist that includes all the fundamental elements involved in launching a successful Initial Coin Offering from idea to funding. Check it out!

In the future, when we look back at the blockchain industry, the year 2017 will likely be remembered as a game-changer for the space. Amongst the many important things that took place, Initial Coin Offerings may be considered as the most important of all.

This is quite a controversial claim, with all the scams, hacks, and negatives aspects surrounding ICOs, it is not easy to shine such a positive light on this bubble.

Many of the projects that are being built right now can (and probably will) fail. However, these projects, with their ICOs and the money they bring into the space, are helping create the infrastructure that will propel future blockchain projects and drive mainstream adoption.

The fact that we are in the early stages of the ICOs rise to prominence as a legitimate funding mechanism means that it’s even more important for entrepreneurs to act responsibly and professionally. This includes how they raise and invest ICO proceeds and show transparency to their investors amongst several other issues like delivering on their promises and commitments.

To help founders with this process and provide perspective on everything that they will need on their ICO journey we’ve put together the following list of needs and fundamental elements.





ICO Preparation Checklist:

*Not every successful project has covered all of these steps, however, the more you cover the more solid and serious your proposal will be.

 

Step

Description

Status

1

Concept of idea/project

With a team of diverse skilled members important decisions such as the technology to be used, the product functionality, the token/ICO characteristics, etc. are decided.

 

2

Assembling core team

The founder/s assembles the core team members that will drive the project forward.

 

3

Product planning

With a team of diverse skilled members important decisions such as the technology to be used, the product functionality, the token/ICO characteristics, etc. are decided.

 

4

Getting advisors

Fulfilling the shortcomings of your team with experienced individuals that can provide advice, mentorship, and connections.

 

5

Product/Community marketing

Start building an engaged community and introducing the project to the space. Create a communication plan to introduce the product and the vision for the project.

 

6

Developing a whitepaper

Authoring a white paper to introduce the problem, the solution, the product and its technology, the token and the ICO, team, business, etc.

 

7

Releasing a roadmap

Present a feasible plan of action with commitments for development and milestones to keep the team accountable to the community and supporters.

 

8

Seeking legal council

Define jurisdiction and get legal council to operate under the corresponding legislation including corporate structure, taxes, securities, AML and KYC laws, etc.

 

9

Token sale marketing

Announce and develop a communication strategy to inform people about the token sale, the specifics of the token, its distribution, sale terms, etc.

 

10

Releasing code and audits:

Share your smart contracts code for revision and ideally have a specific auditing service do a revision.

 

11

Token Sale (optional pre-sale)

Run the actual crowdsale or a pre-sale (public or private) to collect some “seed” money for development.

 

12

Proceeds conversion

Teams liquidate some of the received money to secure cash and pay to build out the team, technology, and business.

 

13

Releasing prototype

The sooner a prototype is presented the better. If it is before the ICO even better.

 

14

Transparency reports and post sale

After an ICO is completed the real work and responsibility to your community begins. Being transparent, showing progress, and keeping constant updates is essential.

 

 

Fundamentals for your blockchain project ICO

While not every successful project has covered all of the checklist steps above, there are certain fundamental elements your blockchain project will need to have in place.

A set of basic criteria has organically emerged in the space as a way to identify serious and respectable projects.

Making sure you cover these at an early stage should be part of your initial efforts. The elements that most investors tend to look at first include.

Team

Who’s involved in the project is probably the first thing investors will look at when doing their due diligence. Showing faces and experience go a long way to building trust. While different projects require different team members overall, you should look to build a team that demonstrates technical experience, business development capacity, and knowledge of the blockchain space (both technical and industry related). Open-source collaborations is always a plus in the space!

Advisory board

Any shortcomings from your core team should be filled in with your advisors. This can be for technical knowledge (it is hard to find experienced blockchain developers, so advisors are incredibly useful), or inside knowledge about the industry you are building (i.e., if you are implementing blockchain technology into the insurance industry somebody with experience in that field would be very relevant). Choose your advisors based on the value they can add to your project rather than as “popular faces.” In the long run, you will get much more out of them.

White paper

Probably because the two most popular blockchains, Bitcoin and Ethereum, were introduced with whitepapers, this document has come to represent a guarantee of credibility and seriousness. Although not everyone agrees with this at the moment, having a whitepaper that explains in depth how your project will work is essential. The most serious investors and the people that are interested in your platform for reasons other than speculation will want to read a whitepaper before investing.

Position paper: some projects release one before the technical whitepaper.

It is a clear 2– 3-page argument supported by your technology proposal that helps get community feedback to develop the technical whitepaper later on.

Yellow paper: The more sophisticated crypto/blockchain companies will offer a Yellow paper, or a second “technical” white paper. This one presents in scientific detail the technology and the innovations that they have created, or propose to create.

Code and/or prototype

You may be great at communicating a vision, but can you build it? Showing a good code repository, or even better, a working prototype is one of the hardest aspects to fulfill, but also the one that can make the biggest difference. Currently, most ICOs raise funds based on the promise of the product. Developing a working prototype can deliver a huge advantage.

Roadmap

If you decide to accept money you should also provide a tool to help people hold you accountable. This is one of the primary goals of the roadmap. You should present the plan for the next years in the project and share the most relevant milestones. It’s also of critical importance to show the different product version releases.

Token sale terms

In addition to the platform and the utility of the token, investors will want to know the terms of your token sales. How much is being distributed and how much will be kept, the duration of the sale, any soft or hard caps and other mechanisms will impact their interest. Having all of these elements in place and understanding up front the steps that you will have to go through when doing an ICO are just the first part of being ready. Running an ICO is a long journey of several months (at a minimum), that will include a lot of ups and downs.

Key points:

1. Despite the craze and exuberance, ICOs are a necessary aspect of the blockchain technological revolution. A bubble in the capital markets is part of what will enable the transformation from the installation stage to the deployment stage of the technology.

2. A successful blockchain project needs a solid foundational structure in place. The team, a white paper, a roadmap, a prototype, etc are all necessary fundamentals that need to be developed as early as possible.

 

3. The cryptocurrency and blockchain space has always been quite fast-changing and hectic causing anxiety and uncertainty. Shift away from the noise and focus on your plan of action – what needs to be done.

 

Regulatory Insights for ICO Creation

Our financial legislation experts try here to answer questions about ICOs and their legal status in various jurisdictions.

This document include answers to the key questions every company considering an ICO needs to ask.

Contents:

- United States Regulatory Analysis

- China Regulatory Analysis

- Canada Regulatory Analysis

- Other Jurisdictions: What are Regulators around the World doing about ICOs?

- The core difference between the Utility Token model and Securities

 

United States Regulatory Analysis

 

What is a Security?

The Howey Test was created by The Supreme Court for determining whether certain transactions qualify as investment contracts – and thus

subject to security requirements.

Securities include notes, stocks, bonds, debentures, and any other instrument that can be characterized as an investment contract.

Under the Howey Test, a transaction is an investment if:

- It is an investment of money

- There is an expectation of profits from the investment

- The investment of money is in a common enterprise

- Any profits comes from the efforts of a promoter of third party

If an investor's own actions largely dictate whether an investment will be profitable, then that investment is probably not a security

Courts will look at the economic realities (substance) of an investment scheme -> Investment SUBSTANCE -> Investment FORM

 

Getting Familiar with The Howey Test

Requirements If You Are A Security

In general, all securities offered in the US must be registered with the SEC (there are some exceptions).

The registration process involves the disclosure of certain information, including:

- Description of the company’s properties and business purpose

- A description of the security being offered

- Information about the company’s management

- Financial statements about the company, certified by independent accountants

 

1. Is it worth launching a ICO if you’re a security? Or should you consider other funding mechanisms?

- Some business models may not be a good fit for tokens, so consider the function of the token itself (security or utility) to answer this question

- Reg D or Reg A+, which allow smaller companies to raise capital without registering with the SEC, are also options

- Speak to an experienced lawyer as early as possible, as they can advise on the market demand for the token in the given regulatory constraints

 

2. If you are possibly a security, do you block the US?

- Whether the ICO is targeted at the US or not, it is almost certain that the resulting activity will enter US jurisdiction.

- Blocking the US is unlikely to exempt most ICOs from regulatory obligations.

- The US is also a very large market, so blocking the US may make it challenging for any given ICO to gain enough contributors.

 

3. If you are security and you don't block the US: What could happen?

For example, you're in Switzerland and you're a security accepting US customers.

The possible consequences of violating US law are:

- Losing the value of the investment

- Being financially liable as an individual

- A jail sentence

These are all possibilities, but significant monetary penalties are more probable.

 

4. If you’re not a security, which US Government Agencies have jurisdiction? Who should you be most concerned about?

- If a token is administrating or exchanging virtual currencies, FinCEN could deem the the ICO issuer a money transmitter, which would require them to be registered under the federal BSA guidelines.

- If the token has a utility it may be exempt from these guidelines.

 

5. If you're not a security, what kind of compliance do you have to do?

- If a token is not a security or a virtual currency, it is categorized as income.

- This means that the IRS will be paying attention to the token sale.

- More broadly, the underlying service offered in the ICO should guide the compliance process.

- For example, data storage, healthcare record management, or financial services all pose their own regulatory considerations.

 

6. Who's scarier: the SEC or Class Action Lawyers?

If there is an ICO which knows it classifies as a security but is trying to fly under the a radar, the SEC will pose a bigger threat.

As time goes on, class action lawyers or private lawsuits can become more common and costly. This could be due to a data breach, an ICO never developing a product, or if there is fraud present.

China Regulatory Analysis

Current Regulations

7. The Essential Attributes of Fundraising Through Coin Offering

- Characterized ICOs as unauthorized and illegal public fundraising suspected of involving criminal activities.

- No Organizations or Individuals Shall Engage in Illegal Fundraising through Coin Offering.

- Bans fundraising through ICOs or token sales, and orders individuals and organizations who have raised funds using these mechanisms to refund them to the investors.

 

8. What did the recent Public Notice from The People’s Bank of China actually say?

- Management of Related Platforms Shall be Strengthened.

- Platforms and virtual currency exchanges are not to engage in any sort of trading activities that involves tokens or coins proceeding from ICOs.

- Financial Institutions and Non-Bank Payment Institutions Shall Not Conduct Businesses Related to Coin Offering Fundraising and Trading.

- Financial Institutions and Non-Bank Payment Institutions cannot directly or indirectly provide products or services for fundraising through ICOs, or insure businesses related to these activities, or include these tokens or coins in insurance coverage.

 

9. What did the recent Public Notice from The People’s Bank of China actually say?

- There has been pressure to protect less experienced investors from Ponzi Scheme ICOs, and market sentiment is that this ban is not permanent, but a temporary measure until more robust regulations are in place.

 

10. If you're a Non-Chinese firm, do you have to block Chinese individuals?

- If you are hoping to do business with China in future, the safest option would be to abide by the existing rules.

- Otherwise, assess which jurisdictions you care about in the long term and the risk you are willing to take on.

 

11. If you're an Non-Chinese exchange, what do you do with Chinese tokens from previous ICOs?

- The answer to this is less clear. It is possible that Chinese regulators will mandate a return of tokens and money.

- This could pose problems for a US-based exchange as the token would need to be assessed as a security or otherwise.

- It is helpful to consider the regulations in the jurisdiction the exchange is operating in.

 

12. The Chinese Government revealed a list that named 60 different companies and ICO platforms slated for investigation.

- The list shows they were reviewing a Canadian company. What could they do?

- There is a penalty for violating Chinese securities laws, but they don’t seem to be enforced widely outside of China.

- Violating the laws while operating within the country is more of a concern.

 

13. If you're in Switzerland and your ICO accepts Chinese customers, what could happen?

- This may be problematic as the activity would not be lawful in China.

- One should check if Swiss law has any rules against this, and perform a risk-based evaluation, weighing up whether you are willing to get on the bad side of Chinese regulators, and if access to a good customer base is worth the risk.

- Also remember: the ban is likely temporary, and you won’t want to be on regulators’ bad side when it lifts and you seek to do business in China.

 

Canada Regulatory Analysis

What Is A Security?

- Section 1 of Ontario’s Securities Act defines securities at length, in a fashion similar to that found in US Securities Regulation.

- In this definition, an “investment contract” is also included.

- The definition of investment contract may capture a purchase of coins or tokens where the value of such coins or tokens are dependent upon the future profits or success of a particular business.

- To determine whether an investment contract exists in Canada, we refer to the Supreme Court of Canada's decision in Pacific Coast Coin Exchange v. Ontario Securities Commission.

 

Investment SUBSTANCE - > Investment FORM

14. According to this ruling, an investment contract exists when there is:

- An investment of money.

- In a common enterprise.

- With the expectation of profit.

- That comes significantly from the efforts of others.

Requirements If You Are A Security

15. Create a Prospectus Or rely on a prospectus exemption.

If the token/coin seller meets the business triggers tests by trading in securities for a business purpose, the seller must then register as a dealer or rely on a dealer registration exemption

A prospectus consists of:

- Objective of the business

- What the funds are being raised for

- Projected value of the funds

- Information on the owner(s)

Canada is not one jurisdiction, and rules change province by province.

For example, dealer registration would need to be done for each of the provinces you operate and plan to offer tokens in.

NOTES:

- A white paper does not qualify as a prospectus.

- Do some due diligence on your prospective lawyer as well, as many lawyers may not have experience with ICOs.

- Even if you are exempt from the two above requirements, making a white paper available is good practice.

 

Requirements If You Are A Security

16. Regulatory Sandbox and How This Approach Can Help

- The Sandbox that was set-up by the Autorite des marches financiers is seeking to better understand ICOs and other blockchain use cases.

- The Sandbox was put together to help jumpstart FinTech projects that don’t easily fit within the confines of a legacy regulatory framework.

- ICO fundraising fits this definition.

Canada’s Strict KYC Regulations

The Canadian KYC Process for non-face-to-face transactions is very strict, and has to include one of the following:

- Credit File: Canadian credit file in existence for at least three years, Name, address and date of birth, Client identification information, Source of credit file, Reference number, Date of verification.

- Dual Process: Two original, valid and current documents or information from independent and reliable sources, Name, address and date of birth, Client identification information, The name of the two different sources used to identify your client, The type of information, Account or reference number, Date of verification.

17. If you’re not a security, which government agencies have jurisdiction?

- If you’re not a security but operating a virtual currency, similar to the US, you will be subject to FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) regulation.”

Other Jurisdictions Regulatory Analysis:

18. ICO Regulation in the UK

- The UK has been on the quiet side in terms of taking a position on ICOs.

- However, the FCA have set up an email address to contact for those conducting token sales.

- The information that has been put up suggests a line of thinking similar to US and Canadian regulators: that ICOs can fall under a regulated line of business and be subject to securities laws.

19. Do we assume that securities regulation in the United States and Canada applies to rest of the world?

- It’s useful to decide which jurisdictions matter to you over the long term.

- Consider where you want to operate, travel to, have customers etc.

- Even if you are in the US entity and create a Swiss entity to operate from, US regulators will still keep an eye on you.

20. What kind of compliance do you need to do?

- Most countries have securities regulations, and some have already made statements about ICO fundraising.

- Find out whether you are a security or not.

- Plan your taxes, as bad practices cannot be fixed retroactively.

- Look at sanctions issues. Token sales are attractive to those on OFAC lists who want to transfer funds without leaving a paper trail.

21. Could you conduct an ICO from an offshore location?

- Just because the location of incorporation for a company doing an ICO doesn't have regulation, doesn't mean that they can ignore the regulation of their buyers.

- For example, if in the US you can sell machine guns online, doesn't mean you can sell those same machine guns to someone in the UK where they're illegal.

22: What degree of protection does a "carve-out" - asking the user to confirm that he/she does not come from a jurisdiction where the token contribution could be a regulated or prohibited activity - provide? Is IP blocking more effective?

- It's recommended that both occur; companies with regulatory compliance should be both asking contributors for their address and validating by confirming their IP address, including checking if they're using a proxy or other methods to mask their IP address.

23: For IRS purposes, do you believe that the utility token will be more analogous to a tangible property sale or an advance payment for services?

- This is a complex question. ICOs aren't included in tax law, so we look to existing law and see what's relevant.

- This varies by where the company is headquartered AND who controls the company.

- For example, if a company outside the US is more than 50% owned or controlled by US shareholders it becomes a “controlled foreign corporation” (“CFC”) which has one set of obligations while if it's less than 50% it can be a “passive foreign investment company” or PFIC which has different obligations.

MiRAK has built a powerful ICO launching platform considered to be the best in industry. The solution is an affordable and easy to install on almost any website hosting plan.

The platform has a customizable front-end website that includes everything a real ICO needs to show to its investors/clients. The site includes a front page,  token counters, banners, whitepaper section, road-map, etc. 

The back-end gives the administrators a full control over the whole environment including generating the tokens, editing the contents and graphics, managing the sales through all phases, powerful transaction and money management tools, and much more. 

We have setup a demo site.

Our platform is built of 3 different part:

1. The landing page ICO website. demo  http://macrodox.com/

2. The Investor Dashboard: Signup on the site and login to see what powerful tools are made available for your investors and token buyers.  http://ico.macrodox.com/register

3. The ICO Owner Launchpad: http://ico.macrodox.com/admin/  login using admin admin

Contact us today to discuss how we can make our platform available for your ICO. You can integrate our platform with your current landing age in less than an hour.

 

 
 
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Phone: +47 92 12 60 00

Email: post@mirak.no
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