CanYa ICO Analysis

CanYa is a P2P marketplace where people with needs are linked to nearby service providers.

Main Features

CanYa’s main features are:

Peer to peer technology – customers are connected to relevant service providers on request. Through the app, clients find a variety of services that match their needs.

Rating and review system – to encourage quality services, a rating system has been put in place. Customers and service providers alike get to describe their experience, affecting the manner in which they show up in searches. All good service providers are subsequently rewarded with extra work.

Multifunctional app – using the current app users may send messages for free, make free voice calls, and also send and receive invoices without being charged. They hope to add features like a chat-bot, video-calling, translation services, and improved desktop features.

Dynamic billing system – many fiat and crypto currencies are accepted, and the customers could use any of them as they please. Service providers also get to decide on the currency they prefer the most.

Insurance from currency fluctuations through a hedged escrow – crypto markets are highly volatile. CanYa ensures that the money in is the money out.

Wallet – one has the option to either create a wallet and load it with cryptos to facilitate spending, or pay as they go using their credit cards.

CanYaCoins – all providers are entitled to CanYaCoins for their services and skills. One may then spend in the app or decide to convert and send them to a cryptocurrency wallet. This is achieved through a network that accommodates exchanges at no fees. After verification, users may make withdrawals to their fiat accounts without transaction limits or additional fees.

What are they solving?

CanYa is trying to create a gripping self-sufficient market place for services based on block chain technology. CanYa’s hybrid system, one that combines on-chain crypto payment layers and CanYa coins, creates a marketplace with great potential. Their dedicated solution to service provision is also refreshing, especially given that other platforms are mostly concerned with goods. Being block-chain powered, also, means users stand to benefit from the advantages that come with a block chain-based system.

Advantages of this Coin/ICO

• It is easy to find the services one needs through their app.
• Users have a variety of options in terms of payment methods.
• The hedged escrow system protects users from market volatility.
• They have brought on board an experienced team hence users are assured of constant improvements.
• They have a comprehensive reward system. One is paid to introduce their friends and family to the program, as a means of giving back to the community within which it operates. The review and reward system also works to ensure that high quality service providers are rewarded with more work.

Their Team

CanYa’s founding team is based in Australia, and includes Christopher McLoughlin, Rowan Willson, Jet Yap, JP Thor, and a number of other advisors and team members. This far, their work has been quite promising, especially since they have already gained significant traction in the Australian market. They founded the company in 2015, and proceeded to soft-launch it in a small section of the Australian market.

Token Structure/Distribution

The company’s objective is to offer 34,000,000 CanYa coins in a public sale, and in turn receive 29,333 ETH. Private sales will account for 26 percent of the total supply of tokens, 20 percent will be set aside for the founders, another 20 percent will go the reward pool, and finally the main sales are slated at 34 percent.

The funds will be used in the provision of liquidity for the escrow contract system, the integration of crypto payment layer, the undertaking of a major global launch that covers marketing, infrastructure and translations, and the expansion of features, more so on the CanYa app.

Only ECH will be accepted in the coin offering. The tokens in circulation will be around 100,000,000 whereas the hard cap of the CanYa tokens for sale will be set at 60,000,000. 26,000,000 CanYa coins will be set aside for strategic investors who are expected to add to the company’s value in the long-term. The vesting schedules incurred by the private investors fall between three and 12 months. It is expected that around 34,000,000 coins will be sold at the first public sale.

Why you need to invest in CanYa?

CanYa is one of the coins that offers solutions to a real problem. Most people are constantly looking for service providers that are committed to quality; CanYa assures users of that. With that level of commitment, the coin will certainly do well.

A lot of people have confidence in CanYa. Actions by the founders and also the goals set hint a promising future. The owners recently announced that they would lock their tokens for 12 months post-ICO. Such a move proves their commitment to the cause.

Their hedging strategy also addresses one of the most important concerns with such a system. This gives them an undeniable edge over other coins.

Their commitment to rewarding the same community that supports them is also incentive enough for users to get interested.

Where CanYa needs to focus more.

There are a number of companies that are providing services similar to those by CanYa. As such, CanYa needs to find ways in which they can stand out further. This is the reason their hedging policy is highly commendable as it offers them an obvious advantage.

The company should think more about the issue of insurance. They currently expect service providers to have their own insurance in place. Insuring the service itself would be a step in the right direction, and will improve their credibility to a great extent.

Important Links:
CanYa Sales
Canya Blog - where you can review the partnerships they have
CanYa Whitepaper