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HOQU – Decentralized Affiliate Marketing

Standard ICO Report Structure:

  • Part 1: ICO Analysis (What is it about? What is the ICO intending to do? Describes what the platform is.)
  • Part 3: Useful Links (Further Research)

Part 1: ICO Analysis

HOQU brings merchants in direct contact with affiliates and cuts out the usual middlemen: Banks Payment Systems, CPA Networks Advertising agencies, and Advertising platforms and services. There is a wide consensus that affiliate marketing generates 15% of total revenue for internet marketing.


Conventional affiliate programs still require an element of trust between advertisers and their affiliates. Advertisers will have to trust affiliates to not resort to fraudulent methods of generating leads, while affiliates will have to trust advertisers to not tamper with the results.


For example, an affiliate could very well manufacturer results by creating multiple email addresses from the same account. Fraud mechanisms are in place but never perfect.

Advertisers could also manufacturer conversion rates resulting from an affiliate’s efforts, which is hard to verify.

HOQU’s role

HOQU matches advertisers, affiliate networks, and affiliates to each other on a ‘free’ market. While smart contracts will naturally be implemented, the HOQU platform will also filter out questionable sources of traffic. They will provide an anti-fraud system called HAFS (HOQU Anti-Fraud System) that identifies fraud by using a variety of metrics that are supported by neural networks and machine learning. There will also be appeal centres that will handle conflicts between affiliate networks and affiliates.

Personal identification

HOQU will be using the Civic blockchain platform but will gravitate to an internal identification system.


In HOQU’s network, modules are not centralized and a compromise of a single module will not disrupt the entire network. Other affiliate systems however, are centralized and attackers may access all data if they manage breach a single point of failure.


HOQU will not charge for platform use. They will generate revenue from getting commissions from what is being paid out to affiliates.

The commissions of centralized systems normally take up 3-25% of turnovers. With HOQU, advertisers may directly work with affiliates and offer a 0.5% commission.

How the HOQU Platform works

First, there will be a registration process:

  1. User registration and verification (via Civic)
  2. HOQU generates an Ethereum wallet and provides user with private key
  3. User chooses role of advertiser or affiliate
  4. Personal account granted

Advertisers will have the option of choosing which activity they would like an affiliate to participate in, be it CPA, CPL, CPI, CPC, or CPS. They will also have the option of either working with an affiliate network or with affiliates directly (0.5% commission).

In the same sense, affiliates are able to choose whether to work with an affiliate network or directly with advertisers. They will also be able to choose which reward models they would like to join according to the available offers of advertisers/affiliate networks.

All reward amounts will be paid out in HQX.

Part 2: Crowdsale Analysis – Details & Token Supply

Token sale dates:

  • Round 1: 27 November 2017 – 26 February 2018
  • Round 2: Q2/3 2018

Total token supply:  888,888,000

Token Type:  HQX

Token Price: 1 ETH = 5000 HQX

Token Distribution (65% sold):

  • 65% Sold
    • 90% ICO
    • 6% Pre-sale
    • 4% Private-sale
  • 30% Founders
  • 1% Ecosystem support
  • 4% Advisers, bounty, marketing

Crowdfunding Usage:

  • 12% Overheads
  • 17% Global Expansion
  • 15% Business function
  • 3% Legal
  • 19% Product Development
  • 21% Marketing
  • 10% Team
  • 3% Charity

Team Overview – Members & Advisors  

Alexey Shmonov, HOQU CEO and Co-founder

Online advertising expert, entrepreneur. Co-founder of one of Russia’s first affiliate networks Marketcall, real estate website, and multiple e-commerce projects. In 2011-2013, Alexey integrated PayPass into TurkPay as the company’s COO.

Maxim Anikeev, HOQU CMO and Co-founder

Graduate of the MSTU Stankin faculty of Information Systems.

In 2003, while in university, headed MaxStyle, making it a leader of SEO companies in 2 years.

In 2005, founded and owns Eastlines, now a Moscow Top-3.

In 2006, founded Promopage, created over 20 IT projects on it. Annual turnover of company Group exceeds $10 million, 4 offices in Moscow, 150+ employees.

Alexander Duzhnikov, HOQU COO and Co-founder

Graduated from MSTU Stankin, specializing in “Information Systems”.

In 2008, founded the federal internet portal for real estate, Top 5 portals on the market and in the Top 3 on media budgets in Russia.

In 2009, launched a network of e-commerce projects in various areas (for example, – up to 1000 orders daily).

In 2014, established an annual professional award in the field of real estate – Move Realty Awards (


Ralph Liu, HOQU Advisor

Ralph is an investment banker, and a venture investor in the field of blockchain technologies. In 2009, he developed and headed the program for the joint management of real estate – Farjho, and in 2015 – a program for the joint ownership and lease of works of art. Ralph is Founder and Managing Director of Advanced Risk Management Solutions, former Vice President of UBS, Managing Director of JPMorgan Chase and Morgan Stanley, Executive Vice President and Investment Director of China Everbright Bank.

Dr. Moe Levin, HOQU Advisor

Chief Executive Officer (CEO) of Keynote, an investor in high-tech startups, and an advisor to governments, regulators, banks, and venture-backed companies. Moe is also the Co-Founder of the first accredited Blockchain Academy, an early investor in RSK Labs, Labfresh, Dropbox, and others. Prior to founding Keynote, Moe was responsible for launching a venture-backed startup in Europe which raised $30m from Richard Branson, Index Ventures and others.

Kenneth A. Goodwin Jr., HOQU Advisor

Kenneth is a globally dynamic executive with over 20 years of banking and capital markets experience, a former U.S. White House Business Council/Business Forward member, college adjunct professor and lecturer on International Trade, Forensic Investigation methodology, and an entrepreneurial C-suite executive for FDI projects in US, Asia (China, Japan) and Africa.

Alex Shifrin, HOQU Advisor

Proven advertising professional with a solid history of successful entrepreneurship and international experience. Currently active as Managing Partner at LP/AD, a Toronto-based creative agency boutique, focusing on revenue growth and market development. Previously served as Regional CEO at Saatchi&Saatchi. Prior to that held the post of Managing Director. Previous to this position, was Managing Partner and Founder of TCF, an advertising boutique, which was acquired by Saatchi&Saatchi.

Part 3: Useful Links (Further Research)

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