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ICO Analysis: Ambit Mining

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Chinese bitcoin mining

By 2017, cryptocurrencies reached their mainstream peak, where people like Alan Greenspan and Microsoft’s Bill Gates were talking about the possible value in this new digital asset class.

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The current state of blockchain technology has already proven itself more than just worthy, improving the lives of many people and legal entities in various ways. However, blockchain-powered platforms require an enormous amount of computing power to run smoothly.

One of the most important gears of the current blockchain-factory is the concept of “mining” cryptocurrencies, or in a nutshell, lending your computing power and resources in order to provide the blockchain the power it needs to perform the transactions set within the network, in exchange for a portion of the transaction.

While “mining” is necessary for most of the current blockchain systems, it is also a pain in the ass for various reasons, including

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  • Mining has extremely high-energy costs
  • The noise and heat generated by the machinery could be really disturbing
  • Requires a lot of physical space
  • Requires expensive hi-tech ventilation/air-conditioning systems
  • Requires 24/7 personnel to monitor the plant

That is why, over time, mining ended up being extremely difficult and concentrated in a few hands. Most mining companies disappeared or merged with similar companies and those who take mining seriously even started to move to countries with low taxes and low electricity fees.

For some countries, mining feels are very low. Take Georgia, for example, where the average rental price per a square meter is not more than a couple dollars. The price per KWh is not more than $0.05, in opposition to the average European KWh price that is currently around $0.20.

Ambit Mining is a Georgian-based start-up that has been taking advantage of these features for some time now. The company operates its own mining plant, powered by major industrial titans like Schneider Electrics, AMD, NVidia, Cisco and Kingston.

Ambit Mining is constantly evolving and are now launching their own ICO to power an ecosystem of investors and developers under the Ambit Mining roof.

The Georgian company not only is one of the most promising, according to their latest transparency release, but they have ties to governmental institutions in Georgia, understanding both local and international markets with a solid and modern business plan.

Unlike most mining plants with a business model, that rent you specific hash power, Ambit Mining gives you the opportunity to be part of the business model by releasing 85% of their total token supply to the public.

Ambit Mining uses both ASICs and GPUs to diversify risks. They have a modern plant and they keep expanding. Ambit Mining unites mining, cloud, and hosting services into one decentralized platform, guided by the community shareholders.

The company is part of the economic free zone of Tbilisi, capital of Georgia and they have an interesting and transparent history when it comes to mining. Their latest project achieved 100% ROI in just five months.

Token

The AMBT token is Ambit Mining ecosystem’s native currency. It can be used to purchase mining contracts, computing power, or even cloud space. Each token has a value that can be translated as a vote on significant community events and updates.

At the same time, naturally, you can swap your AMBT for ETH, or any other major cryptocurrency and find shelter in fiat or other altcoins.

The total token supply is set to 104,000,000 AMBT, 85% of which (88,000,000) will be accessible during the public sales.

Ambit Mining, unlike most ICOs, will require only 3% to be reserved for the company, while 9% is distributed to team and advisers, and the final 3% will be given to bounty participants.

The starting price of an AMBT token is approximately set around $0.5 per unit, which is ultra cheap, if you consider that projects with a similar total supply cost between $10 and $200 at the moment, with Ethereum (~99 million total supply) being the most expensive per unit at $585 US dollars.

Team

Beka Vashakidze (Founder & CEO) is the CEO of BF group holding Company operating on mining in Georgia. He is involved in numerous different industries including Fintech, Digital Media, oil and gas among others.

Giorgi Inashvili (Chief Operational Officer) is behind numerous projects around marketing, sales, and logistics areas. He is talented in business planning and project management.

George Khmaladze (Chief Financial Officer) is currently a professor and lecturer at Georgian Technical University. He is an important figure in Georgia, having served director and chairman in various organizations in his country.

In the board of advisers, we can find Karan Khemani, CEO of Spectre, Miguel Palencia, Chief Information Officer at Qtum Foundation and Andri Matiukhin, Chief Technical Director at Hacken among others.

Overall, the Ambit team consists of professionals with years of experience in the mining scene. A big portion of the initial team is native Georgian, acknowledging the benefits of the grounds they live in.

Verdict

Mining is a crucial part of most blockchain-based technology companies. The more companies adopting distributed ledger technology, the more mining will be required. Ambit offers its services as a solution to this problem, with specified facilities and reduced mining costs.

Indeed, Ambit has favorable synergies that could be very beneficial for someone looking at mining seriously. Within its years of operation, Ambit has managed already to create a 1 MW diversified mining facility in Tbilisi where it’s based. This facility has managed to achieve 100% ROI in five months.

This indicates that the operation is up and running, proving it can grow, provided that the terminals are put into place and running. Having the whole of the investment concentrated on one spot means that the service team will be able to respond very fast in case something goes wrong.

Ambit plans to grow its operation to 20 MW through this project, having mining enthusiasts on their side and the support of the high-end technology manufacturers affiliated with the company.

While mining is very important for most blockchain-platforms, there is a new wave of decentralized distributed ledgers that have a pre-established number of tokens, pre-mined and they use variations of the PoW protocol, eliminating the need for miners.

Risks

From an investor’s perspective, the following facts are important to consider when weighing Ambit Mining:

  • While Georgia may be friendly to mining at the moment, it still is a very expensive and energy-consuming “sport” that might be changed or even faded away in the future. -1.5
  • Mining nowadays is not as easy and profiting as it was during the “golden” days of the blockchain. Major mining companies have already established plants that work for years, having a standard client database. Ambit Mining will have to work hard to attract new investors into their network. Even with the lowest prices of the market, that is a challenge. -2
  • In general, mining facilities are extremely vulnerable to natural disasters, and that does not exclude Ambit Mining from the list. For an example, an earthquake can be devastating for the company itself as the whole operation is relying on a single geo-location. -1
  • Ambit Mining’s native token, AMBT, does not offer anything out of the box, as there are infinite options already doing what AMBT is created to do. -2.5

Growth Opportunity

  • On the other hand, if considered seriously and programmed with technical craftsmanship, mining can be still one of the most profiting sub-sectors of blockchain technology. Ambit Mining seems to understand the specific market well with a series of transparency reports backing this fact. +2.5
  • Finding cheap operational fees in the sector is not a walk in the park. Whether Ambit Mining has chosen Georgia as their base due to the fact that it is their home country or the fact that it has cheap taxes, and electricity fees, it is one of their best key points for the moment. +3
  • Unlike most mining plants that are “decentrally centralized,” keeping almost half of the total token supply for the company, Ambit Mining is in position to share 85% of the total token supply with the community. +4
  • $0.5 per AMBT or any other token with a logical total token supply is more than just fair and it could bring an easy x4 to x5 just after the token enters the mainstream markets. +2.5

Disposition

Ambit Mining could be a profitable model for ICO investors or even blockchain investors, but we should consider the fact that mining will have to eventually upscale its model into a less consuming, energy-efficient platform.

The company, as well as the team, look really promising and wise on the sector, although relying your whole business plan on a single country, on a single location could lead to unpleasant surprises in the future.

A score of 5 out of 10 is reserved for Ambit Mining, based on present facts.

Investment Details

  • Type: Crowdsale
  • Symbol: AMBT
  • Platform: Ethereum
  • Pre-Sale: Apr. 20, 2018
  • Public Sale: May 10, 2018
  • Payments Accepted: ETH, BTC (KYC Required)

 Official Website

White Paper

Disclaimer: The writer has no position in Ambit Mining at the time of writing.

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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ICO Analysis: Verasity (VRA)

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Verasity is a video-sharing platform that caters to content creators and rewards viewers with VERA tokens just for watching content, sharing videos, watching ads and for referrals. Over the past few years, brands have shifted their advertising model to allow influencers to share products with their audience. This gives products a much more personal touch and translates to better conversions.

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Verasity will provide a way for viewers to help support their favorite channels by the use of VeraSparks. VeraSparks is a smart contract that allows viewers to buy and own a portion of a channel, and be rewarded with profits especially in future growth.

How is Verasity different than the competition in this field? Verasity is the only platform combining the following: Decentralized Proprietary Blockchain, Proof of View (PoV) – patent pending, Watch and Earn, Centralized Video Distribution, VeraSparks and the Spark Marketplace, and multiple ways for creators and users to earn VERA tokens. Just one of Veracity’s features, Proof of View (PoV), will help solve the problem of fake reviews that affect creators and advertisers.

Token

The VERA token is an ERC-20 token used as a payment method between brands and creators directly ensuring that brand placements are verified through Verasity’s Proof of View technology. Not only do brands now have direct access to content creators, but advertisers have the opportunity to reward viewers. Views are recorded on the blockchain so that validating viewer interaction is easily auditable. Proof of View is Verasity’s Patent Pending (*US and international patent pending, application number 62627285) system that provides more accurate audience metrics than traditional methods.

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Team

The list of team members and advisers on their website is quite extensive compared to the majority of ICOs. The team and advisers are showing commitment to the project with team tokens locked for 18 months and advisor tokens locked for 9 months. A few team members include: 

David Orman – CEO & Co-Founder

  • Founding Partner – Hatch-House
  • Founder – Namro Ventures Ltd
  • Advisor – Carabiner Partners
  • Formerly VP of Joost

David Rowe – Co-Founder

  • CEO – Black Green Capital
  • Founder – Hydro66
  • Founder – Easynet Group
  • Former Managing Board Member – Sky

Chris Gale – Co-Founder

  • Founder & CEO – Odyssey Mobile
  • Founder – TouchTab
  • Former CEO – Level Up Media Ltd
  • Crypto Investor & Blockchain Advisor

Adam Simmons – Co-Founder

  • Former VP Marketing – Level Up Media Ltd
  • Owner – Madals TV

Advisers include: 

Dr. Christian Jaag – Advisor

  • Founder – Cryptoeconomics
  • Managing Partner – Swiss Economics
  • Lecturer – Universities of St. Galen and Zurich

Matt Heiman – Advisor

  • Founder – Diagonal View
  • Founder – Mobix Trading
  • Founding Investor – Just Giving
  • Adviser – Channel 4, Visimo, The Cloud, Palringo

Jin Young Choi – Verasity Ambassador for Asia

  • CEO – Bitbank
  • CEO – Woorim Holdings
  • CEO – East Nine Company Ltd
  • CEO – Vision Group Company Ltd
  • Permanent CEO – D!conomy LAB
  • Executive Commissioner of World Franchise Council
  • Former Mayor of Namon City

Joel Kovshoff – Advisor

  • Founder and CEO – MyICOPool
  • Founder and CEO – Athena Trading Bot
  • Blockchain Advisor and Educator
  • A complete list of team members and advisors can be found at verasity.io.

Verdict

Verasity will use blockchain technology to finally have a transparent and reliable solution to the many problems facing the video sharing industry. Some of the key features of Verasity’s blockchain technologies are: Verasity High-Performance Blockchain, VERA Transactions, Proof of View (patent pending) and DPoS. All of the videos run off of VeraPlayer, which is a blockchain enabled video player that allows users to view content securely from many mobile and desktop devices without the need to install additional software. Verasity has partnered with Akamai, a leading global content distribution network. This enables Verasity to deliver over 8 PetaBytes of video data per month, allowing them to scale quickly. If Verasity continues to deliver on the benchmarks outlined on their roadmap, they could quickly become a major player in this highly competitive field.

Risks

  • Although Verasity is unique with their own blockchain and PoV, it still has competition such as Steem, Basic Attention Token, Props, and Flixxo. -1.25
  • The hard cap is on the high side at 6,245,750,000 VRA which equates to over $46M USD. -1.5

Growth Potential

  • Verasity has a large and experienced team along with top-notch advisers that are capable of building and scaling the company successfully. +4
  • Having multiple ways to earn for creators and viewers has the potential to grow at a fast pace while their partnership with Akamai will allow for scalability. Basic Attention Token may use Verasity as its default video player. +3.5
  • Hype and community are important to create exposure for ICOs. Verasity has over 41k telegram members, 10k Twitter followers, and 237k Facebook followers. +2.5

Disposition

Blockchain platforms are in high demand right now. Verasity is no exception. With internet traffic being worth $312 billion by 2021, online video is set to account for 82% of all traffic. Company giants such as Facebook and Google generated $191 billion in advertising revenue in 2017. Personal data has become the new commodity and Verasity aims to reward creators and content publishers. Verasity is 100% SICOP compliant (Sustainable ICOs Protocol) which defines rules and methodology to determine whether ICOs are secure, follow good practices and ethical rules. Verasity is one of the few ICOs that is completely compliant. In an ICO atmosphere riddled with scams, this gives Verasity a head start. Due to the enormous potential as a successful first mover and the fact that they have followed very strict rules to be ethically compliant, Verasity receives a rating of 7.25 out of 10.

Investment Details

  • Symbol: VRA
  • Price: 1 VRA = 0.0075 USD increases by 1% per 24 hours during sale
  • MVP/Prototype: Available
  • Platform: Ethereum
  • Payments Accepted: ETH, BTC
  • Total Token Supply: 12,491,500,000
  • Hard Cap: 6,245,750,000 VRA
  • Min Purchase: 10,000 VRA
  • Restricted Areas: USA (Accredited only), Cayman Islands, North Korea, Somalia, Yemen

Learn more about Verasity:
Website
Whitepaper
Token Sale Info

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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ICO Analysis: Cardium

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Venture capitalist Anthony Pompliano of Morgan Creek Blockchain Capital is looking to “tokenize the world,” and he recently said that eventually, all assets will be on the blockchain. He might get his wish sooner than he thinks, as evidenced by one of the latest blockchain startups planning an ICO.

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Russia-based Cardium basically brings FitBit to the blockchain with a proprietary device dubbed fitness tracker that’s similarly worn on the wrist and is the heart of the project. Cardium, which is designed to tackle the issue of obesity and the chronic diseases it leaves in its wake, like diabetes and cancer, tokenizes daily activity and incentives users with a digital currency as a reward.

It’s a massive ecosystem, one comprised not only of a native digital currency but also a partner gym-fueled mining pool that generates additional tokens that fuel the platform. The reason for gym-mining is to motivate members to participate in high-speed mining activity at participating gyms and while they’re there, exercising and socializing.

The problem Cardium is looking to solve is real, as evidenced by predictions for excess weight and obesity to affect 20% of the global population by 2025. These issues are especially pervasive in but not limited to developing nations. Cardium believes that by incentivizing its members with a reward for physical activity, whether high-intensity or moderate, people will prioritize cardiovascular activity. Cardium is looking to ride the wave of the second generation of wearable devices, one that Cardium believes will work in tandem with the Internet of Things (IoT) technology for autonomous smart devices.

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Here are a few of the features of its device:

  • “Tracking the number of steps and calories and setting goals”
  • “Monitoring the effectiveness and quality of sleep”
  • “Heart rate measurement

For every calorie users burn, they receive Cardium tokens.

Token

Cardium (CAD) is an ERC-20 smart-contract fueled token on the Ethereum network. CAD tokens that are generated from mining can be directed toward the partner network, such as gym membership discounts and sports product promotions, for instance. Cardium estimates that by consuming 2,000 KCALs per day, users can earn 2.64 CAD tokens daily based on the number of calories burned. Cardium has placed a ceiling on the lifetime number of tokens at 475,372,000,000 based on expectations to reach 100 million people over a decade. Any unused tokens will be burned.

Source: Cardium White Paper

Team

Cardium’s management team is comprised of four co-founders.

Philipp Klimov is founder and CEO. He boasts experience at leading Russian cybersecurity firm Kaspersky and experience in DDoS prevention, which bolsters the security profile of Cardium.

Alexander Perminov, anothe co-founder, specializes in data analytics.

Co-Founder Roman Chistyakov brings two decades of experience at major Russian corporations to the table, including Accenture, Rosneft and others.

Sergey Chernikov, co-founder and CTO, specializes in “database design, performance and high-load systems.”

Verdict

Cardium makes it difficult to disagree with physical fitness on the blockchain, and the partner network adds another layer of engagement. Investors should bear in mind, however, that the fitness tracker device wasn’t even a twinkle in the eye of its developers a year ago. It was born at the height of the cryptocurrency fever in December 2017.

While that doesn’t undermine the deal, it does increase the risk. Cardium must promote their brand and people must be willing to use their ecosystem. Otherwise, the reward tokens lose their appeal. If their roadmap materializes, this project could be a winner.

Risks

  • Cardium is a new concept that began at year-end 2017. While the startup has a defined roadmap through year-end 2018, it’s unclear if their fitness tracker is in development yet (samples are being tested this month, according to the company’s roadmap). There’s no history of performance or guarantee the market has room for another fitness tracker. -2.5
  • This brings up another risk, which is the possibility that a company like FitBit, that has proven sales, or worse Google or Apple, which similarly boast wearable products, could decide to integrate blockchain technology and issue digital tokens, which would raise the competition stakes significantly. -2

Growth Opportunity

  • Demand for wearable devices is on the rise, as illustrated below. Meanwhile, and while this part is unfortunate, the number of people with an excessive body mass index (BMI) is also increasing. Cardium has figured out a way to capitalize on each of these trends while at the same time improving the health of the global population. +4

Source: Cardium White Paper

  • Even though Cardium hasn’t generated any sales yet, they have a defined path to do so. The company will generate revenue from sales of the fitness tracker, a device by which all physical activity is measured and sent back to a smartphone and later to Cardium. They expect in year one to “attract” 10 million people and generate EBITDA of USD 150 million. +3
  • Innovation. Cardium’s concept of tokenizing daily activities could be brilliant. Consider the former wildly popular US television competition, “The Biggest Loser”. For 17 seasons, overweight contestants were tasked with losing weight by the carrot and stick method including a USD 250,000 prize reserved for one lucky winner. +3.5
  • Cardium is being advised by Moscow-based Conner & Company for the ICO. This relationship provides greater transparency to potential ICO participants and is a plus. +1.5

Disposition

We arrive at a score of 7.5 out of 10 for the Cardium ICO.

Investment Details

  • Token Type: Utility
  • Platform: ERC20/Ethereum
  • Symbol: CAD
  • Public Crowdsale: June 1 to June 30, 2018
  • Number of Tokens to be Issued: 475,372,000,000
  • Price: One CAD = USD 0.25 (Participants who invest more than USD 250 will receive a free fitness tracker device.)
  • Payment Method: Ethereum
  • Jurisdiction Banned: The United States and South Korea

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.4 stars on average, based on 7 rated postsGerelyn has been covering ICOs and the cryptocurrency market since mid-2017. She's also reported on fintech more broadly in addition to asset management, having previously specialized in institutional investing. Full disclosure, she's invested in bitcoin.




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ICO Analysis: Layer Protocol (LRX)

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With the sharing economy industry poised to soon surpass $40 billion in revenues, the profit potential is massive. Companies such as Airbnb, Uber, and Zipcar depend on user ratings and reviews to give potential customers insight into assets or services before they commit to using them. The issue with the current reputation management system is that it is exclusive to each company and not shared. This allows users with bad reviews to go from one company to another.

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Layer Protocol will solve this issue and tap into this enormous industry by allowing companies to share user reputation history while maintaining security utilizing the blockchain. Layer Protocol is a borderless reputation and incentive system designed to unify the sharing economy companies around the world. Layer Protocol will help establish decentralized reputations that can move freely from sharing platform to sharing platform.

Token

LRX is an ERC20 token that will provide economic incentives for scalable computation of reputation scores through master nodes, and drives community governance. Companies using Layer are also incentivized to use LRX for rewards and accept LRX for payments. Layer Protocol has a partnership with Spin, North America’s leading electric personal mobility company, which will give their blockchain protocol and LRX use from the onset. Spin has over 70 markets in the U.S., with thousands of scooters and bikes on the street, and has been heavily featured on The New York Times, CNN, Bloomberg, and The Washington Post. As Layer’s first partner, Spin will use Layer to power their reputation system, and accept the LRX token as payment for rentals, in addition to fiat.

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There will be a total supply of 1 billion LRX tokens with 400 million available for purchase during the token sale. The token price is 1 LRX = $0.0375 USD with a hard cap of $15,000,000 USD. Team tokens will be vested for a 2-year period.

Team

The Layer Protocol team appears solid bringing leadership and experience from companies such as Y Combinator, Lyft, Samsung, Fitbit, and Stanford.

Team member Euwyn Poon is an entrepreneur, lawyer and software engineer who has been involved in the blockchain industry for five years. In 2014, he co-founded Delta, one of the first projects to offer interest-bearing bitcoin accounts, which was backed by Y Combinator, Initialized Capital, and Winklevoss Capital. He graduated from Cornell and has spoken at CoinSummit London and Inside Bitcoins and has been featured on Bloomberg, Wall Street Journal, New York Times, Forbes, Vice, CNBC and Fox Business Network.

Advisers include:

  • David Chen: Former Partner at Lightspeed
  • Kenzi Wang: General Partner at AU21, a blockchain fund
  • Dmitry Grishin: Co-founder of Grishin Robotics, Mail.ru (DST), one of Russia’s largest internet companies
  • Peter Szeli: Partner at Skyline Capital Group
  • Michael Ma: General Partner at Liquid 2 Ventures
  • Gee Chuang: Co-founder of Ink Protocoland Listia
  • Josh Fraser: Co-founder of Origin Protocol
  • Matthew Liu: Co-founder of Origin Protocol
  • Firoz Khan: Founder of Decentralised Chain
  • Chandler Guo: Blockchain investor (ETH, NEO, Qtum, Binance, Huobi, Gate.io)

Verdict

Layer Protocol will provide economic incentives for scalable computation of reputation scores, which will encourage adoption of the protocol and drive community governance. As well as a decentralized reputation system for the global sharing economy, Layer Protocol aims to be a decentralized credit scoring agency which will help accelerate the growth of the sharing economy. If mass adoption and implementation occur, the future looks bright for Layer Protocol.

Risks

  • Spin has committed to adopting Layer Protocol as its de facto reputation, rewards, and payment system. There is an internal prototype that’s being tested with Spin, but it’s not open sourced or on the testnet yet. -2
  • As with all industries that can benefit from blockchain technology, there will be competitors to Layer Protocol, such as Reputoken and others are sure to follow. However, Layer Protocol does have a leg up on the competition with their partnership with Spin. -1

Growth Potential

  • Having partnerships clearly increases the chance of success for an ICO. As well as having Spin set to use Layer Protocol, the company has also partnered with other blockchain players, including Origin Protocol, Insights Network, and Quantstamp. +4
  • The team members and advisers bring the necessary experience to achieve the project’s goals. The team is also showing commitment to the success of the project by having a 2-year vesting period. +3.5
  • Savvy investors searching for projects that include the option to own masternodes will be pleased to learn that masternodes will be available with LRX. +2.5

Disposition

2018 is an exciting time for blockchain technology. So much innovation is happening with new ICOs launching on a daily basis. Many of these ICOs have nothing more than a whitepaper and are created without solid use cases. Spin has committed to using Layer Protocol which grants a use case from day one. As more sharing economy companies come onboard, Layer Protocol has the potential to be one of the ICO success stories in 2018. Layer Protocol receives a 7 out of 10 rating.

Investment Details

  • Token Symbol: LRX
  • Platform: Ethereum
  • Token Price: 1 LRX = 0.0375 USD
  • Token Supply: 1,000,000,000 LRX
  • Available for Purchase: 400,000,000 LRX
  • Hard Cap: $15,000,000 USD
  • Pre-Sale: On-Going
  • Main Sale: TBA
  • Payments Accepted: ETH

For more information regarding Layer Protocol:

Website: layerprotocol.com
Telegram: t.me/layerprotocol

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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