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Dona ICO Review

29 april 2018, 13:49

General Idea

Dona wants to bring the newly developed technological improvements like blockchain solutions into the donation and charity sector. They want to make such organizations much more reliable and transparent, while making the sole process of donating money much easier and accessible for people from all over the world. Dona believes that we can make the world a better place through investments in society.

Transparent Donations

Various charities and donation foundations have always been popular and very helpful to many important causes. However, many people and donators worry about usage of the money they decide to give to such organizations. It is known that it would be impossible to use all of the money directly for the help, as there are a lot of side expenses, taxes and operational costs that need to be paid. Therefore, it would be very convenient for people to know exactly how much and where is the money going. And there is no better tool currently than blockchain technology, which offers this kind of transparency.

Dona ICO Review

Thanks to the blockchain, all of the transactions, the amount of money and its destination could be easily tracked. Such transparency could make charity organization much more reliable, making donators more likely to give them the money, as they don't have to worry that it will be used improperly.

Low fees

Many organizations have to deal with all of the fees and operational costs connected with handling people's donations. Bank wires, which are the most common type of donation, often include fees for sending and receiving the transaction and the fees may be even higher when it comes to handling overseas and foreign transactions. The same goes for opening and maintaining bank accounts. A lot of small fees of this kind accumulate taking a significant amount from the sum that could directly help various causes. Blockchain technology allows for almost instant and very cheap worldwide transactions.

Dona ICO Review

The Token

The platform uses its own tokens, called Dona coins, issued using a mosaic function in NEM. They will be used as the primary currency to be used within the platform for donations and all of the transactions. The system will enable to trace the donations, view responses and track the donation cycle.

Dona ICO Review

ICO Phase

The whole process of raising the funds will consist of three stages. The first one, acting as a presale, is scheduled to run for two weeks, starting on the 1st of June, 2018. The main token stale is scheduled to run from July 2 to July 31, 2018, while the last additional phase and chance to buy some cheaper ICO tokens before they are listed on exchanges is set to be running from September 3 to September 28. The initial price is set at 1 DNC = $0.01. The soft cap is set for a $1,000,000. If the soft cap is not reached, the money will be returned to the investors and token buyers. There are token bonuses respectively for each phase, which means the earlier you buy the tokens, the more you can get for the same amount of money.

Dona ICO Review

The Team

The team behind Dona is relatively small, however it consist of all necessary members for successful development of such platform. Unfortunately, there is no enough information or social media links to prove they are real and have such skills and experience. The technical part of the project is taken care by a leader of platform development with 13 years of experience and knowledge about popular programming languages. There is also a team of 10 developers. Apart from the technical side, there is a financial officer with more than 10 years of experience to take care of fund management and operation.

Final Thoughts

The project's idea seems reasonable and creating a reliable and transparent platform to handle donations and charity organizations may be very useful and helpful, as people would prefer to know where their money is going. When it comes to the sole preparation and technical development, the whitepapers explain the ideas and solutions quite clearly. On the other hand, the design of the site and platform could be a little better and the untraceable small team may be a disadvantage at the early stage, as after the successful ICO phase they could easily hire enough skilled people.

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