ICO Analysis: Orvium
You are in college and taking an introductory philosophy course. The instructor assigns you an essay, perhaps suggesting some articles and books to read before writing it. Philosophy articles published in top tier journals average fifteen to twenty pages, so reading an article does not take much of your time. You take your notes, write the assigned essay and move on with your life.
As you have a life cycle, an academic article has one similar as well. The author does his or her research, writes the article, sends it to journals – several on some occasions, gets feedback, and only after making the required changes, the article finally gets published. This whole process usually takes twelve to twenty-four months and obviously is quite inefficient. Many academics all around the world think that this could be done in a much better way and the Orvium team is not different.
The only problem is not with this publication process. Ownership rights are held by publishers, not by authors themselves for instance. Another inefficiency is “the triple-pay system” Any scientific research starts with a government’s or a research institution’s paying scientists to conduct research. The obtained results are later published in journals usually in the form of articles and then government-funded institutions and university libraries must pay considerable amounts of money to gain access to those journals.
Orvium is a framework dealing with academic publications, dedicated to make their publication processes and the period after, called life cycles, much more efficient. By Orvium, an article can be published freely with zero delay like in arXiv. Orvium’s ultimate goal is to form a whole ecosystem that could replace traditional publication system’s place in the future.
Although Orvium has the first-mover advantage and can disrupt the traditional academic publication industry, gaining reputation by publishing articles in top tier journals are crucial in the job market. The job market is extremely broken in some disciplines in that it is extremely hard to land a full-time position at a university unless the person has published articles in top tier journals. Until Orvium is accepted as a respectable top tier platform for publishing articles, people might be quite reluctant to publish in this platform.
ORV tokens will be used for several actions taking place in the platform:
- Manuscript submission: The author might stake ORV tokens to incentivize members for peer reviews.
- Peer reviews: Accepted reviewers will be rewarded by staked ORV tokens.
- Research data: The researcher might ask for ORV tokens for the use of his or her data.
- Providing access: The author might ask people to pay ORV token to gain access to his or her material.
- Science patronage: Any person can create a challenge, such as solving a specific problem and stake tokens which will be released only when it is solved, or sufficient effort is provably made.
The initial total supply of ORV is approximately 379 million tokens with the following token distribution:
- 60% token sale
- 20% Orvium OÜ
- 10% team
- 10% advisors and partners
The vesting period for team and Orvium OÜ tokens is determined to be three years with 6 months cliffs. An undisclosed number of tokens will be sold with a 10% bonus in the pre-sale, which is quite low compared to many ICOs.
The team is planning to use the token sale proceeds as follows.
- 40% development
- 20% science and collaboration
- 15% operations and business development
- 10% research & development
- 10% marketing
- 5% legal & financial
The public pre-sale and crowdsale are expected to take place soon and the whitelist is open as of August 20.
Co-founder Manuel Martin: Martin has been working as a data engineer at CERN since Oct 2007.
Co-founder Antonio Romero: Romero, a former software engineer at CERN, has been working for Data:Lab Munich, a tech firm working for Volkswagen Group, for 9 months.
Natalia Meyers: Meyers holds e-researcher & digital librarian positions at University of Notre Dame’s Hesburgh Libraries.
Bernd Lapp: Lapp is a former advisory board member at the Ethereum Foundation, consulting on PR, communications and business planning.
Below is a breakdown of the risks and growth potential of Orvium.
- Many advisors do not have Orvium listed on their Linkedin profiles. (-0.5)
- Orvium 1.0 is expected to be released in Q1 2020. (-1.5)
- Although radical changes are required in the sector, it is not evident why another centralized entity with a different working mechanism cannot solve these problems without appealing to a blockchain. (-2.5)
- The project has the first-mover advantage. (+3)
- It aims to disrupt the academic publishing sector which evidently has many problems. (+3)
- Low pre-sale bonus. (+1)
Orvium is a platform aiming to change the academic publishing sector. It has many academic advisors, which can create a network effect and help adoption. But the success of the platform purely depends on adoption, which is not academics’ most known trait. Orvium receives a 2.5/10.
- Type: ERC20 – presumably utility
- Symbol: ORV
- Platform: Ethereum
- Crowdsale: Unspecified
- Minimum Investment: Unspecified
- Price: $0.10
- Hard Cap: $20 million
- Payments Accepted: Ethereum
- Restricted from Participating: Afghanistan, Belarus, Bosnia, Burundi, Central African Republic, Comoros, Congo, Eritrea, Guinea, Guinea-Bissau, Haiti, Iran, Iraq, Libya, Myanmar, North Korea, Puerto Rico, Somalia, Sudan North, Sudan South, Syria, Yemen, Zimbabwe, Philippines, Cuba, Mali, Tunisia, United States of America.
Featured image courtesy of Shutterstock.