modum.io | MOD Token
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MOD Token

MOD TOKEN OVERVIEW

Token Sale Period: September 1st – 22nd

 

Token Type: Ethereum ERC20

 

Benefits: Voting & profit participation rights

 

Total token supply: 27 266 200 MOD

  • 17 366 200 sold in the crowdsale:
    • 2 100 000 (7%) were offered in a pre-sale with a 50% discount.
    • 15 266 200 (56%) were sold in public sale
      • 6 000 000 with a 30% discount
      • 6 000 000 with a 15% discount
      • 3 266 200 with 0% discount
  • 9 900 000 (36%) will be locked in a smart contract and released upon public voting:
    • 900 000 to cover the token sale expenditures and the bug bounty program.
    • 9 000 000 will be released over the next three years to retain profit sharing rights to modum.io AG.

 

For more information: Read the white paper, factsheet, view the terms of token sale, join us on telegram.

INVESTING IN MODUM.IO

How to buy the MOD Token:


The MOD Token is now listed on a number of exchanges. Buy and sell you tokens using any of the following exchanges:

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TECHNOLOGY & MODUM.IO

Blockchain Enabling


The modum business model innovates emerging blockchain technologies for logistics and applies them in an established industry: pharma. With a clear, regulation-driven use case, the modum system is developing a stringent application with a high concern for accountability, thereby pioneering blockchain technologies. modum’s vision is to provide data integrity for physical products en masse in order to increase transparency and to facilitate process automation.

Blockchain Agnostic


The modum solution is not dependent on a single blockchain. Our pilot projects, including those with a large pharmaceutical company based in Basel and a leading parcel distributor, used the Ethereum platform. Ethereum was chosen for its stability and its simplicity in creating the governing logic of the smart contract execution. However, modum.io remains agnostic in terms of blockchain use in order to avoid dependency on a single platform or limit the preferences of clientele. modum.io is currently testing the integration of other smart contract enabled blockchains.

IoT Platform


The modum system relies on a secure IoT sensor device. Feasibility of the system was tested using the Texas Instruments SimpleLink multi-standard CC2650 SensorTag as a prototype. The modum temperature logger will be released in Q1 2018, it will be qualified for pharma, secure, and cost-effective. modum.io’s long term strategy is to provide a platform for data integrity using innovative IoT technology to monitor all of the conditions that affect physical products while in transit.

BLOCKCHAIN INFRASTRUCTURES CURRENTLY BEING EVALUATED

ADDITIONAL INFORMATION

 FREQUENTLY ASKED QUESTIONS

MOD token characteristics
  • What are MOD Modum tokens?

The modum token (MOD) is an ERC-20 compatible token distributed on the Ethereum blockchain pursuant to a related ERC-20 smart contract

 

  • What can MODs be used for?

The modum token is a token with voting rights and profit share rights.

 

  • How does the profit sharing process work?

The profit share smart contract is open source.

A payment, equivalent to the part of the profit generated by modum.io AG, which is used for dividend payments as proposed by the board of modum and subsequently enacted by the shareholders, will be forwarded to all MOD token holders. The profit in CHF is converted to Ether and sent to the modum smart contract. The smart contract evaluates the current holdings and distributes the profits to token holders in Ether. Tokens that are locked for the shareholders of modum do not come with profit participation rights while they are locked.

 

  • How does the voting process function?

The smart contract is open source.

Every MOD token in circulation is entitled to one vote. Token holders will vote to decide whether, in their opinion, the modum.io team has reached the predefined milestones and thus the locked MOD tokens shall be released. Locked tokens for modum.io do not come with voting rights while they are locked.

 

  • When does modum.io intend to pay profits?

modum.io is not legally permitted to forecast profits. However, our business plan foresees a break-even point in 2018.

 

  • Why are 9.9 million MOD tokens reserved for modum.io?

modum.io wants to assure every token holder that the team is incentivized to further advance the company. The locked MOD tokens will be released to the modum team to retain profit sharing rights within the company, aligned with token holder voting outcomes. Detailed information regarding the voting principle and profit share process can be found in the modum whitepaper.

modum.io's business case
  • Does modum.io already have a product and with a well-established business case?

modum.io has a working temperature logger prototype, which was used to track shipments in several pilot projects within Europe and the Middle East. modum.io is currently launching the first generation of its own, proprietary sensor device based on findings from each pilot. Our go-to-market strategy is regulatory driven, based on new requirements placed on the pharma industry. We are currently working with academic and industry partners as well as clients.

 

  • How was modum.io’s first business case developed?

The European Commission has recently released tightened regulatory requirements for the transport of medicinal products for human use.modum.io’s first targeted solution offers an efficient system for distributors to comply with these regulatory requirements.

 

  • What are the regulatory changes driving modum’s first product?

Chapter nine of the Good Distribution Practice regulation (GDP 2013/C 343/01) now requires proof that shipped medicinal products have not been exposed to conditions (particularly temperature) that may have compromised their quality.

 

  • How does the modum solution achieve GDP compliancy for its clients? 

To date, pharmaceutical companies achieve compliance with regulatory requirements by using expensive, temperature-stabilized trucks and containers from third-party logistics providers (3PLs). modum.io offers a more efficient supply-chain solution, which enables companies to prove compliance with GDP regulations by using blockchain and Internet-of-Things (IoT) technology.

 

  • What is the business potential of the modum solution?

By using the modum solution, costs per shipment can be reduced by up to 60%. With respect to the 200 million shipments of pharmaceutical products in the EU, a widespread adoption of the modum system has the potential to reduce industry-wide expenses of approximately 3 billion EUR annually.

 

  • What is modum.io’s go-to market strategy?

Currently, the modum system is being integrated into the system of the leading last-mile logistics service provider in Switzerland. modum.io is planning to finalize this integration in Q4/2017. Upon successful completion, official market entry will begin in Q1/2018.

 

  • What is modum.io’s vision for growing its platform for expanded service delivery?

modum.io, with its system and first business case, eagerly anticipates horizontal and vertical growth by evolving the developed system. Low-cost and low-power IoT sensors have become commonplace for:

  • Temperature
  • Humidity/moisture
  • Light/machine vision
  • Acceleration/tilt
  • Acoustics/sound/vibration
  • Position/proximity
  • Motion/velocity/displacement
  • Chemical/gas
  • Flow (Liquid)
  • Electric/magnetic
  • Force/load/torque/strain/pressure

Modum.io foresees adding sensor devices with these capabilities to build a platform for IoT monitoring in supply chain across a variety of sectors.

 

  • Into which sectors could the modum system be expanded?

With the experience gained from the high standards and low-cost requirements set by the pharma industry, the modum system will be well positioned to be deployed in other sectors. modum.io has been approached by leading companies from the following sectors, each of which have overlapping needs with the solutions laid out in our first use case:

 

  • Healthcare

modum.io has been approached by Healthcare institutions to improve their processes (internal and multi-stakeholder) using IoT and blockchain technology.

 

  • Chemical industry

Customers from the chemical industry have similar needs to pharma customers, requiring compliance with similar regulations. Data integrity is an issue, causing customers from the chemical industry to perform more extensive post-delivery checks on their chemicals than they would deem necessary.

 

  • Heavy machinery

Machine building companies need accountability during transport of their high-value components, requiring traceable data for acceleration (shock) and humidity (storage and transport conditions).

 

  • Automotive, Aerospace and Aviation

The automotive, aerospace, and aviation industry needs efficient and auditable systems to prove the authenticity of every single component. Constant performance checks of essential parts serve to reduce liabilities in case of accidents.

 

  • Food sector

Pharma standards and regulations for food safety are closely related, in the United States they are supervised by the same government agency, the FDA. Customers from the food sector are additionally looking into improving their processes, providing traceable data in order to market the origin and the quality of their products.

 

  • What are the USP/functions of the modum system?

Before shipment occurs, the modum sensor device ID, shipment ID, and alarm criteria are fixed within a shipment-specific smart contract. Upon receipt, this smart contract will allow the receiver to check that regulations have been met. Due to the nature of a smart contract in the blockchain, the evaluation criteria for meeting regulations cannot be changed retroactively.

During the shipment, the change of environmental conditions (i.e. temperature, humidity, movement, etc.), is monitored and the data is stored in the internal flash memory of the sensor device. Using BLE (Bluetooth Low Energy), the shipment does not need to be opened to verify the shipment has complied with the environmental parameters set. At each change of ownership, data authenticity is first checked by the smart contract before it is evaluating the data. The results of the evaluation are then stored, immutably, as proof-of-existence in a blockchain.

 

  • Do customers need to install additional hardware?

No, customers do not need to install additional hardware to use the system, downloading our mobile application is sufficient. The modum system is also compatible with every other BLE device.

 

  • How does modum.io generate revenue?

modum.io will offer its solution in a “pay per shipment” model to pharma producers and wholesaler. During modum.io’s extensive proof-of-concept phase, pilot projects with several customers determined that the modum solution delivered the highest value as a service in last-mile logistics of an overall pharma supply chain. In the EU, more than 200 million of these last-mile shipments occur each year.

 

  • Does modum.io have any strategic Partnerships?

Yes, modum.io has several partnerships. We are working with the market leader in parcel services in Switzerland, the owner of Europe’s leading mail order pharmacy, two leading pharma wholesaler and the University of Zurich and the University of St. Gallen.

PRESS

November 2016 – New York, US – “modum.io’s tempurature-tracking blockchain solution wins accolades at Kickstart Accelerator 2016…”

February 2017 – Geneva, CH – “… Swiss start-up modum.io, for example, uses blockchain as a way of assuring recipients that pharmaceuticals have remained within an acceptable temperature range while in transit…”

November 2016 – Luzern, CH –  “After modum.io had already received CHF 20,000 in support from Kickstart Accelerator for development, the start-up founded by Marc Degen and Malik El Bay has now won the main prize in the Future & Emerging Technologies vertical…”

November 2016 – Nashville, US –  “Since the launch of modum.io in April and the unveiling of its first pilot project in June, the team has received positive feedback from their pilot customers based in Switzerland.”

November 2016 – Brazil – “Depois de já ter recebido um apoio de CHF 20.000 da Kickstart Accelerator, a start-up modum.io, fundada por Marc Degen e Malik El Bay…”

August 2017 – USA – “Specifically, modum’s system of proprietary sensor devices, software, and blockchain-based reporting focus on the question of data integrity and the challenges of monitoring conditions during transit, allowing manufacturers and shippers in the pharmaceutical industry to document adherence to a precise range of environmental conditions throughout a product’s delivery cycle.”