$LIME/ETH via dextools.
iMe Labs Contract Address: 0x9d0b65a76274645b29e4cc41b8f23081fa09f4a3
How do you define utility?
Can we replace utility with "functionality" and it still have the same effect?
That's up to you to decide...
In the crypto space, answering that question gets even trickier.
Details of the $LIME token at the time of writing this article per https://dextools.io
One piece of intel that I'd like to highlight is the fact that dextools.io reports less than 1000 holders at the time of writing the article. That is a significant indicator to me that this app and token has not been widely adopted, and there is much, much more room for growth. Especially if their primary goal is expanding crypto access to the lay person.
Here is a convenient video for those of you who are watchers and not readers.
Smells A LOT like utility...
So when we discuss projects like iMe Labs $LIME token, the term utility gets washed in grey because of how the token is used within its ecosystem. Even though it's a technically a governance token all the talk is on its functionality, which smells A LOT like utility.
Remember, in my personal opinion, the projects that will win long-term are those who expand access into crypto, and make it easier for the world to adopt crypto at mass, which means it needs to be simple.
A snippet from an article published on medium November 1st of this year.
How to start using this functionality?
First, you will need to have a verified Binance account with Binance Pay activated on it. If you don’t have a Binance account yet, you can create one on the official website https://www.binance.com/ and then go through the verification process.
We recommend you to have installed the Binance app with successful verification on the same device where the iMe app is also installed.
Next, you will need to connect your Binance account to your iMe wallet. You can always disconnect your Binance account from the iMe app by clicking the 3 dots on the main Binance Pay account screen and log out.
What does it mean? How about making crypto truly peer-2-peer, and extremely accessible and user friendly, paving the way for mass adoption by those less tech savvy individuals.
What the integration of iMe and Binance means
iMe Smart Platform hosts a feature-rich messenger with integrated DeFi functionality which is an alternative client based on the Telegram API. In the initial phases, the implementation of this collaboration between iMe and Binance entails -
- Linking your Binance Pay account to your iMe wallet;
- Displaying of coins with balances and transaction history;
- Creation of payment requests between users, including within the chat;
- Making payments to requests by scanning the QR code, with a quick transition to Binance Pay for confirmation.
The Binance app is made for professional users and it is difficult for beginners to navigate its interface. This may seem like a hurdle in the mass adoption of cryptocurrencies and the powerful benefits of DeFi. For this reason, the integration of Binance Pay with iMe will simplify all processes and interactions.
The Binance Pay app does not have a chat/messenger feature and users have to use third-party applications, for example, for sending a QR code with a payment request. But with the integration of iMe, transactions can be conducted between users of the messenger, among their contacts, right within chats. It is extremely convenient and there is no need to confirm the identity of the user by asking for verification details before sending a request or making payment.
One of the biggest advantages of using Binance Pay is the fact that all transactions are real-time and happen instantaneously. They do not require any gas fees or other commissions. Anyone who has made any transactions over the blockchain will attest ruefully to the fact that gas fees can be extremely volatile and can dig into the transaction amounts badly. However, with Binance Pay, the transactions are truly peer-to-peer and fast.
I also LOVE how transparent an easily accessible important information is in this group. Listed below you'll find all of their seed and private allotments, as published in their official telegram group.
iMe investment rounds and Lime distribution
Overall, there are 60 holders in the Seed Round, Strategic Round, Private Round 1, Private Round 2 and 111 holders within IDO.
- SEED ROUND
Allocation - 48 millions of Lime (4.8%). The distribution will be started in 12 months after TGE. The distribution will take place within 36 months, 2,77% per month.
- STRATEGIC ROUND
Allocation - 50 millions of Lime (5%). The distribution was started after TGE. The distribution was started on the 10th of June, 2021 and will take place within 10 months, 10% per month.
- PRIVATE ROUND 1
Allocation - 50 millions of Lime (5%). The distribution was started after TGE. The distribution was started on the 10th of June, 2021 and will take place within 6 months, 16,66% per month.
- PRIVATE ROUND 2
Allocation - 85 millions of Lime (8,5%). The distribution was started after TGE. The distribution was started on the 10th of June, 2021 and will take place within 8 months, 12,5% per month.
4 millions (0,4%) of Lime were allocated at IDO instead of previously planned amount of 15 millions of Lime. The Lime distribution to IDO participants will take place in 2 stages: 50% will be distributed on the day of listing - the 10th of June, 2021 and 50% in 7 days after listing - the 17th of June, 2021.
Don't just take my word for it though.
I encourage everyone to #DYOR on this little gem and make your mind up for yourself.