The Freight and logistics market is a vital, enormous and problematic market, only the European market has been sized at about $360 billion, and the serious hit the supply chain and freight management took after the pandemic, created the need for smart, disruptive and efficient solutions, enabling all the involved stakeholders and facilitating the whole process. So we listened to what the market leaders had to say…
“Removing complexity from global supply chains, blockchain and other distributed ledger technologies (DLTs) can facilitate greater trust and transparency among stakeholders and customers”- DHL board
“The most important thing is to solve the governance problem. This primarily refers to cross-enterprise decision rights and responsibilities that have a significant impact on incentives to participate in a blockchain-based ecosystem.”- Dachser board
...and we believe that Evoload just has a true value to share.
At Evoload, we focused on three main axes, on which we found the three pillars formulating our solution:
Firstly, Payment Guarantee
Annually, more than $140 billion are tied up in payment-related disputes, this is almost equivalent to the GDP of some countries. On an average invoice, companies suffer from an average delay in payment of 51 days before receiving the payment and with no guarantee that they will receive the payment, as in almost 40% of the cases, the creditor is bankrupt, or the documents proving the shipping status are absent. Therefore, one of the main problems a professional truck driver faces nowadays is payment recovery. Even though most transport companies already use various tools for checking the credibility of new companies, the real verification of foreign companies remains a big challenge to overcome. Also, the further the borders of their own country, the more difficult it gets to recover outstanding or delayed payments for the service provided.
Due to over-reliance on paper transactions and the ever-rising prices of gas prices, between fuel, time, and administrative costs almost 80% of the overall transportation cost is spent. On the other hand, 90% of shipping companies have six trucks or less, failing to match the demand volume to the supply, which leads to high LTL inefficiency. Accordingly, the need for digitization is growing to track, govern and create an efficient alternative for the current workflow.
The traditional relationship model in the freight market is transactional as the client only focuses on the cheapest price or the best value for the money, but the shippers usually do not tend to build a rapport with their clients. This implies the crucial need for developing partnerships and a recognition program. A recognition program is often developed for motivating a defined set of stakeholders to change their behavior or performance in the direction strategically set by the organizer of the recognition program, and in these trying times, all the stakeholders need an incentive powerful enough to make this market more active.
Accordingly, Evoload focused on altering these three axes. For each of the three pre-mentioned axes, we tailored our solution to efficiently solve these axes, formulating the pillars on which our business model is built:
Firstly, Smart Contracts:
Using the technology of crypto and blockchain, we lock the service fees and the guarantee amount in advance and unlock them according to the set contract in installments until the contract is fulfilled one way or another. This method guarantees that both parties are covered and neither should worry about not getting their fees delivered at the set milestone, avoiding all payment disputes that might arise.
Secondly, Automated workflow:
Developed by market experts, our solutions will give our partners a much more efficient and digitized workflow, to negate unnecessary expenses on administrative stuff and paperwork, increase efficiency and avoid losses and disputes caused by the traditional workflow.
Thirdly, Rewarding Scheme:
Our workflow will take advantage of the blockchain technology and introduce the concept of mining through the “proof of distance”. The poD will offer all of our stakeholders a mileage rewarding scheme with every mile driven using our solutions.
Through these three pillars, we aim at disrupting the freight and supply chain industry and providing a sustainable ecosystem that helps in flourishing the industry once again.
03. How It Works
In order to truly understand how our solution will affect the workflow and why it should be adopted by the industry, we will compare the traditional workflow with all the possible unfortunate outcomes and the new workflow that we are proposing and how the solution is altering those.
This traditional workflow arises four possible unfortunate outcomes:
- The contracting tools offer limited functionality as well as they do not have strict terms to assure that every party is committed to his part of the deal, especially in the absence of governance tools to make sure that everything goes according to the set terms.
- Administrative costs represent almost 20% of the whole shipping fees and this might sound absurd but this saves companies millions that might be paid as penalties or other fees if paperwork or proofs of deliveries get lost.
- Shipments usually get loaded after being weighed and checked but what happens along the way or at the various stops along the shipping journey till it reaches the final destination is usually unknown due to the absence of smart governance based on set standards.
- In most scenarios, payments for shipping services are paid a month or two after deliveries are done, which can cause many disputes over payments, some shipping companies do not receive the rest of their fees, some freight forwarders do not receive their security or guarantee amount if something goes wrong, this type of financial disputes has reached the volume of $140 billion on an annual basis.
This new workflow offers an efficient alternative to avoid unfortunate outcomes that the traditional workflow suffered from:
- Smart contracts offer a respectable level of governance that assures that each party gets the support and guarantees that if any monkey-business or something unfortunate happens, they will be covered and compensated.
- Smart compliance features offer an automated, paperless, hassle-free workflow to assure that this new workflow is much more cost and time-efficient.
- Using the technology of blockchain and smart contracts, stakeholders can forget about the possibility of losing a contract or having it altered. Locking the shipping and penalty fees in advance, grants all beneficiary parties their rights in advance according to the set terms of their smart contract.
SIDE NOTE: If the market price is lower than the price of the “EVLD” currency at the signing of the contract, a compensation will be applied to cover this difference.
N.B: All the transactions will be valued from a stable coin perspective “USDC” or “EUR”.
04. Technical Architecture
Driver's reward formula
(based on direct APIs with Waze or Google)
R i - the reward for driver i
M - the total amount of tokens distributed in one month
n - total number of active drivers in one month
K i - number of kilometers made by the driver I in one month
Q i - the quality of drive
Q i = 1 - E i
E i - number of negative events in one month per driver: accidents, delays. Every time such an event occurs the value of E is increasing with 0.1
Data validity is the focal point of the reward system. We offer here two approaches:
- The first step is to involve system owners of trucks. As is their direct interest to know the real route of the trucks, they can provide us in exchange number of tokens the real locations at some point in time. Together with locations provided by the app, we can have two entry points to validate data into the system.
- The second step consists in mounting our GPS IoT devices on trucks. Those will communicate one each other when let’s say two or more trucks are closer on the road. We create a network in which trucks are nodes. Their roles will be to assure the security of the transactions and with this step we can create a dynamic blockchain, meaning that we are independent of any other blockchain infrastructure.
The main idea behind data validation is to have multiple sources and an oracle decentralized network to provide tamper-proof inputs, outputs, and computations for Evoload system. Speaking about sources of data, in the first stages of the application we will use two:
- The Evoload application itself will provide geolocation of the mobile device attached to the truck. The application will use APIs to connect with Google or Waze systems.
- Companies will validate trucks routes by adding their pass-through different checkpoints available on the current route.
The basic design of the process can be visualized in the following schema:
Using this oracle network, the Evoload app will ensure that its smart contracts are connected to real-world data, events, and payments. Oracles enable our system to read data from and write data to smart contracts, securely digitize existing workflows, mitigate counterparty risk, and reduce intermediary overhead.
The last step to achieving reliable and secure proof of distance is to create a network of nodes (trucks).
We chose a new dynamic graph structure specifically suited for large-scale transportation networks that provides simultaneously three unique features: compactness, agility, and dynamicity.
- Compactness: ability to efficiently access adjacent nodes or edges, a requirement of all speed-up techniques based on Dijkstra’s algorithm.
- Agility: the ability to change and reconfigure its internal layout to improve the locality of the elements, according to a given algorithm.
- Dynamicity: ability to efficiently insert or delete nodes and edges.
We present a new graph structure for directed graphs, called Packed Memory Graph, which supports all the features. In particular:
- Scanning of adjacent nodes or edges is optimal (up to a constant factor) in terms of time and memory transfers, and therefore comparable to the maximum efficiency of the static forward star representation (compactness).
- Nodes and edges can be reordered online within allocated memory to increase any algorithm’s locality of reference, and therefore efficiency. Any speed-up technique can give its desired node ordering as input to our graph structure (agility).
- Inserting or deleting edges and nodes compares favorably with the performance of the adjacency list representation implemented as a linked list and the dynamic forward star representation, and therefore it is fast enough for all practical applications (dynamicity).
In practice, every truck will have devices attached that will communicate with devices from other trucks in the nearby area.
UWB signals can be used to accurately measure ranges over short to medium distances (10 cm to 300 meters). UWB modules are placed on a truck alongside a GPS/INS integrated system. The GPS/INS integrated system is used to provide a reference trajectory for the moving vehicle (in an outdoor environment) that includes position, velocity, and attitude angles. Moreover, the GPS/INS integrated system has a sub-decimeter positioning accuracy, which is adequate for this scenario. The UWB range measurements exhibit various error sources, such as bias errors, and synchronization issues. Consequently, to test the positioning scheme and Kalman filter, simulated UWB ranges were calculated from the GPS/INS trajectory and used as input measurements to the Kalman filter. The simulated UWB modules positions are calculated using the GPS position, the fixed known distance between the UWB modules antennas, and the heading angle acquired by the INS system. These UWB positions are then used to calculate the ranges between the UWB modules.
Our solution does not sort out all the related issues with the freight scene but we made sure while developing it that it addresses all the stakeholders of the freight industry, and for each of them we have a benefits package, so disrupting the whole scene begins with addressing every stakeholder separately and thinking of how our solution can add value to them.
Drivers are the cornerstone of the whole industry, but most of the time they are not included in the equation of freight solutions, but as we want our drivers to play a crucial role in the success of our solution, we are offering them, Mileage Rewarding, Safety Compliance, Liability distribution, automated & digitized operations, Communication Hub Access, All-in-one operative app, and Analytics & Reporting.
The maestro behind the state-of-art performance of the whole industry, can not be kept out of the equation, and for them we offer Higher LTL efficiency, Liability distribution, payment guarantee, Automated & digitized operations, Simple invoicing, Fleet management, Analytics & Reporting, share in Mileage Rewarding.
The demand creator in the supply chain and logistical scene, and for our solutions to be virally adopted, we have to encourage the demand to boost the performance of the whole market; so we offer the freight forwarders freight procurement, shipment compliance, guaranteed service, auditing & billing, Analytics & Reporting, Mileage Rewarding whilst helping them reduce freight cost and explore top performers.
Most of the solutions addressing this market do not care that much about the recipient, we know that they are the true market mover and we encourage them to use our solutions and create more orders by offering them Simple Tracking, All-in-one operative app, Analytics & Reporting, Mileage Rewarding.
Healthy ROI offers staking rewards, staking holders share between them 10% of the total daily amount of the mined tokens by the truck drivers from our network.
This is briefly how we are going to disrupt the scene by simply addressing each stakeholder and trying to efficiently meet their requisites.
06. Token Utility
Evoload aims to revolutionize the freight exchange and logistics industry by implementing blockchain technology and using its native token to enhance the platform's functionality. Here are the utilities for the EVLD token:
- Efficiency Boosting:Token holders can use the token to pay for complementary services and products that maintain the efficiency of this freight industry like paying for gas, repairs, insurance, tires, paying tolls, paying taxes, and purchasing spare parts, etc. Evoload will create a partner pool of different service and product providers to act as a redemption gateway of better prices.
- Payment for Services:The Evoload token will be used to pay for various services on the platform, such as freight booking, shipment tracking, and carrier services. Users can benefit from discounts and incentives for using the native token.
- Staking and Rewards:Users can stake their Evoload tokens to earn rewards or participate in the platform's governance. Staking can help secure the network and provide users with a passive income source.
- Escrow Services:The token will act as an escrow for transactions between shippers and carriers, ensuring that both parties fulfill their obligations before funds are released.
- Incentivizing Data Sharing:Evoload can reward users with tokens for sharing valuable data, such as transportation routes, carrier performance, and pricing information. This can help improve the platform's overall efficiency and effectiveness.
- Governance:Token holders can participate in the platform's decision-making process by voting on proposals or submitting their own ideas. This ensures that the platform remains community-driven and adapts to the needs of its users.
- Loyalty and Referral Programs:Evoload will offer loyalty programs and referral bonuses, rewarding users with tokens for using the platform consistently or bringing in new users.
- Ecosystem Development:The token will be used to fund platform improvements, partnerships, or marketing efforts, ensuring the continued growth and success of the Evoload project.
- Cross-border Payments:The Evoload token can facilitate cross-border payments, allowing shippers and carriers to transact easily without having to worry about currency conversion or high fees.
- Integration with IoT Devices:The token will be integrated with IoT devices to enable seamless tracking, monitoring, and automation of freight and logistics processes.
- Access to Premium Features:Users holding a certain number of tokens could be granted access to premium features on the platform, such as advanced analytics, personalized recommendations, and priority customer support.
07. Token Economics
Total Token Supply: 500,000,000
Seed Sale & Private Sale: 10% unlocked, 6 months locked then 5% monthly.
Public Sale: 10% unlocked, 6 months locked then 10% monthly.
Team, Partnerships & Advisory: 18 months fully locked then 15% quarterly.
Marketing: 5% unlocked, 6 months locked, then 5% quarterly.
Trucks Rewards will be distributed according to the set limitations, as follows:
*The 30% of the total token supply which represents the total volume of the rewards received by the trucks is equivalent of 150 millions tokens.
*The rewarding scheme will be on the basis of a limited volume to be distributed at 01.00 am of each day for the activity of the previous day according to the fore-mentioned equation, depending on the distance share with respect to the total covered distance by all trucks operating under Evoload.
*The rewarding protocol will be halved at intervals of four years.
Use of funds
The raised funds through the private and public sale rounds will be allocated among marketing, wide adoption, development, and fine-tuning.
40% of the funds will be used to develop more features, better UI/UX will be introduced.
30% of the funds will be used to build awareness, participate in logistical and supply chain summits worldwide, create partnerships, host press conferences, and digital marketing promotions to generate leads for freight forwarders interested in using our solutions.
25% of the allocated funds will be focused on onboarding as many targeted stakeholders as possible from various segments, rewarding them, offering them free trial versions, and giving away better promotional packages to hook them and get them familiarized with our workflow.
5% of funds will be used for legal operations.
08. Revenue streams
Our business model is generating revenue from three main sources which grant a diversity in revenue streams and make us avoid dependency on a single revenue model which might cause the failure of the whole business.
Freight Forwarders Subscription Fees
Similar to the model of traditional freight exchange platforms, Evoload will charge a monthly subscription fee that freight forwarding companies pay to be granted access to this feature and benefit from the key value propositions that come with our solution.
Evoload will not just passively be a freight exchange platform for middlemen, but it will also offer a way for freight forwarders to directly use the solution to contact shipping companies on the basis fee of an overhead percentage of the contract value that will be collected by Evoload for eliminating the role of a middleman.
Smart compliance is a feature that uses high-tech gadgets, sensors, and workflows for granting the compliance to set standards for shipping precious or sensitive shipments (or any shipment for that matter), using this service enables all parties to track and split liability which comes in handy in insurance disputes and gives an exact log of the whole shipping process, that makes the investigative part of the disputes much more efficient. Shipping companies or insurance companies will pay annual subscription fees for enabling the services and technologies of smart compliance to their shipments.
09. Drivers Marketplace
We are further expanding our services, with a new job and truck marketplace module, that will change how the industry is interacting with these services and resolve more actual problems from the freight industry.
The industry’s current challenges
Freight market studies have reported a severe shortage of truck drivers, particularly in Europe, where there has been a shortage of nearly 400,000 drivers.
This shortage of truck drivers and professionals willing to operate in the freight market, along with the lack of a driver database for professionals, makes it difficult for companies to find drivers who can deliver and exceed performance indicators and have proven experience in the field.
This in turn exacerbates the logistics and supply chain crisis that the world is currently suffering from.
The frenzy of buying and selling trucks, spare parts, maintenance or insurance packages is putting many drivers and shipping companies in trouble.
Evoload’s recruitment portal will allow drivers to present and validate their experiences, qualifications and skills through a simple user interface. It won’t take them 10 minutes to intelligently fill in all the relevant data and ensure proper representation in the marketplace.
Furthermore, freight transport companies will have the ability to post job opportunities, filter applicants and search the driver database to find the right man for the job.
Our smart portal will track drivers’ performance, endorsements, and ratings throughout their hiring journey, as well as compliance with company policies and regulations to ensure a smooth, hassle-free, and seamless experience that is not offered anywhere else.
The service/product bidding marketplace will allow freight market stakeholders to publish a list of their requirements with all the specifications they want, and receive detailed quotes and bids from a vast network of verified service/product providers.
Moreover, suppliers can also use it to publish price announcements of their services/products on an open marketplace where requesters can explore the listed options and choose the value for money that matches their preferences.
All contracts will be recorded and signed as smartcontracts on the blockchain to avoid any form of fraud.
Utility of $EVLD tokens
Market fees: Listing your products online or browsing the marketplace is a free service. On the other hand, when your product is purchased online, sellers provide us with a listing fee that can be paid via the various online payment facilities available on our platform, $EVLD included.
Recruitment: In order to be able to view our drivers, hunt for them or even post jobs, companies will need to pay a subscription fee to use the recruitment portal. They can pay via the various online payment facilities available on our platform, $EVLD included.
Founder & CEO
9+ years of business management with a demonstrated history of working in the transportation, logistics, and supply chain management.
Blockchain professional certified by MIT Sloan institution. Experienced CEO in running business about $3 mil. annual.
Full Stack Web & Blockchain Developer
Blockchain FullStack Developer, passionate in MultiversX Blockchain. Have rich experience in MultiversX, EVM chains, Solana and Near.
Founded in early 2021, Legion Ventures is a community-driven, early-stage, crypto venture fund.
Security Expert, Smart Contracts Development and Web 3.0 integration.
Web Designer & Front-End Developer
5+ years of experience in UI/UX Design & Frond-End Development.
Financial expert 20 years of work in the areas of finance, technology, data, and strategy.
Startup SME Advisor
Expert Evaluator at European Commission. 15+ years of business development and sales experience in the IT field.
Co-Founder and CPO at Freelance Yard. Business designing with over 10 years of experience in Customer-Centric Innovation.
Co-Founder at Combased. Focused on bridging a gap between e-commerce and web3. Working in Web3 development & consulting as well.
Business Strategy Advisor
17 years of management experience, bring growth, differentiation and success through innovation and excellency.