Presearch started as a tool developed in-house by Shopcity, a firm that helps local businesses utilize existing search engine services to enhance their discoverability within their community. Ultimately, Presearch aims to build an open and decentralized search engine. Decentralization of main search engine functions is farther down the project roadmap, and is not detailed in the whitepaper. In the short term, Presearch will function as a tokenized software layer that allows users to customize and optimize their internet search workflow.
Presearch works on top of existing search engines, such as Google, and operates within these search engine’s terms of service.
The PST Token
The PST token will initially function as a payment and reward token. The PST token will be the sole means of payment for buying ads and sponsored search results on the network. PST will also be used to reward users for interacting with content, making searches, and referring new users. The founding team hopes that these rewards will attract users to the network.
In the long term, the PST token will be used for a user-led curation and search suggestion system as well as a DAO governance system.
Presearch has had a live MVP since the end of 2013, but they haven’t promoted it. The team claims it is used in-house by Shopcity and by some of the development team’s friends and clients. The Presearch team plans on rolling out a more user-friendly version of their product by the end of Q3 2017. The team has released a demo video of how the public release will look and what some of its main functions will be.
Presearch has been incubated by Shopcity, but currently has five full time team members, including four developers, working on the project.
|Incorporation status||Presearch, Inc. Canada 2017|
|Team openness||Fully transparent|
|Technical Lead||Rob Calvert|
|Technical White Paper||Yes, most technical details defined|
|Available Project Code||Not available|
|Role of token||Payment rights, Voting rights|
|Token supply||1 billion|
|Distributed in ICO||200 million|
|Emission rate||300 million coins will be emitted as rewards to users|
|Consensus method||Proof of Work|
|Sale period||June 25th, 2017 to August 25th, 2017|
|First price||proportional to participation|
|Accepted currencies||BTC and ETH|
|Investment Round||First public offering|
|Token distribution date||Immediate distribution|
|Min investment goal||None|
|Max investment cap||15 million USD|
|How are funds held||Unclear|
|Minimal Viable Product||September 1st, 2017|
|Bonus schedule||No Bonus|