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Abab decentralized marketspace for accommodation rental

July 9, 2017 - BEST PROJECT
Abab decentralized marketspace for accommodation rental

 

What is Abab Blockchain?

Abab.io is a decentralized marketspace for accommodation rentals where a blockchain solves the issue of trust between the host and the guest.

The current system of real estate rentals has leaders whose databases contain an amassed data on both hosts and guests. These databases are closed and usually lack the API; even in the cases when the owner of the database does provide the API, during the implementation of the project one becomes dependent on the owner of the database. In this case, the terms are dictated by the owner of the database.

How Abab Can Improve it?

Secure

The interaction between the guest and the host based on a smart contract.

Open

An open technology for partners who can use the common database of all hosts.

Variety

Partners can create the best offer for the guest (language / currency / site / mobile application / support service)

Independence

Access to the entire host database without the need to request from abab.io permissions and accesses.

Trust

Smart contracts rules cannot be breached by either the host or the guest.

Budget

Low commission systems due to the competition among the partners.

Abab Network Token

Settlements in the network are conducted using the AbabCoin cryptocurrency tokens, which is an ERC20 standard and uses the Ethereum network to execute smart contracts. AbabCoin will be represented in the leading cryptocurrency exchanges.

The total number of coins is limited to 1,000,000,000 (one billion).

With the current global volume of the short-term rental market amounting to $100 billion a year and a market share of 10%, assuming that the accommodations are booked, on the average, one month before the trip, we will calculate that only the AbabCoin tokens blocked in reservations should be worth $833 million. This alone makes the value of the coin equal to 83 cents. Given that some of the coins will be held in the stabilization reserves of the partners, some others, in ABAB.DAO, and some others still, retained by users for investment purposes or will be saved for vacation spending, it can be assumed that the value of the coin will be even higher. Besides, when implementing the service for short-term rentals it may be replicated to other types of rentals.

The entire stored database is decentralized and the rules of the interaction “guest-partner-host” are described in the form of smart contracts. When the guest rents the accommodation, a commission is added to the rental price posted by the host. The major part of this commission goes to the partner.

The smart contract containing the post can either automatically confirm the booking or request a booking confirmation from the host.

Roadmap

 

Project Concepts

1. Abab DAO

30% of the AbabCoin tokens released in the ICO process will be transferred to Abab.DAO (decentralized autonomous organization). This DAO will be managed by the owners of AbabCoin. This DAO is intended to help the partners build and promote applications in the Abab.io network.

4. Review of ICO

The value of one AbabCoin token at the time of ICO is $0.10 (10 US cents). In the ICO process, 300,000,000 AbabCoin tokens are distributed, of which 2,000,000 tokens are distributed among those participating in preICO.

2. Ethereum Risks

The Ethereum network can experience scaling problems; the cost of transactions and the time of their execution may increase. In the process of the system development or during its further operation, a migration of the network to another blockchain.

5. Distribution of coins

Coin Amount % of Total
Tokens distributed at ICO 298 000 000 29,8%
Conversion of preICO
tokens to AbabCoin
2 000 000 0,2%
ABAB.DAO 300 000 000 30,0%
Marketing / Initial
registration of hosts
295 000 000 29,5%
Bounty 5 000 000 0,5%
Team Tokens 100 000 000 10,0%

3. Why Crowdsale?

The traditional crowdsale schemes are notable for their high transaction costs.
By raising funds via ICO, the project achieves the transparency of funding. An additional advantage is the swiftness of the idea assessment.

6. Buy AbabCoin Tokens

Subscribe to ABAB.IO news and we will let you know when you can buy

MORE INFORMATION :

Whitepaper | Website |Facebook | Twitter| Telegram | Announcement

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