ICO Analysis: CryptoCurve

In 2015, the World Economic Forum (WEF) predicted that by 2025, about 10% of global Gross Domestic Product (GDP) would be stored on the blockchain via cryptocurrency.

It’s been a few years since that prognosis, and progress has been slow. It’s fair to say that cryptocurrency is still very niche in most parts of the world.

This is likely because cryptocurrency is still very difficult to use and rife with risks for your average, non-technical user.

Setting up a wallet, buying cryptocurrency from an exchange, and things of that nature are daunting to your average person. Not to mention things like hacks, illegal uses of cryptocurrency, and losing all of your funds because you “forgot your private key” or had your computer crash.

Such high barriers to entry and risks impede the adoption rate of cryptocurrency.

CryptoCurve is a project that aims to change that.

Curve Wallet, CryptoCurve’s blockchain-based product, wants to simplify the cryptocurrency world for everyone with tons of great features, such as the following:

  • Multi-blockchain platform that will allow for cross-chain transactions on both desktop and mobile
  • “Nuke” button that allows you to convert your portfolio with one click to ETH, BTC, or stable coins like Tether. This would be useful, for instance, when the market undergoes a significant correction and you need to save time to limit your losses. You can convert all or certain percentages of your portfolio like 25%, 50%, and 75%
  • Portfolio snapshot allows you to take a snapshot of your portfolio before nuking it so you can easily convert back when the time is right
  • Strong security features like Key Storage Flexibility, Beneficiaries, Mobile OTP, Biometric Data, and Multi-Signature Capability (see CryptoCurve whitepaper for more details)
  • ICO investing straight from the wallet. Compliance is also ensured as you only have to register for KYC/AML once before being able to use that information for all ICOs listed on the platform. Investing can also be done with any crypto in your wallet instead of having to convert to e.g. ETH or BTC
  • Easy ICO pooling for presales and public offerings. Pool admins can set things like individual contribution amounts for the pool and built-in smart contracts ensure that people get their funds in a timely manner
  • Decentralized, peer-to-peer exchange that allows for investing and trading directly within Curve Wallet instead of going through intermediaries like large crypto exchanges, which can be prone to problems, such as hacks
  • Exchange integration that still allows for integration of other exchanges into the wallet and trading on those exchanges via the wallet
  • ICO airdrops – stake CURV tokens to receive free airdrops of ICO tokens
  • Portfolio tracking allows you to track, monitor, and analyze portfolio performance over time
  • Fiat gateway makes funding accounts easy with a bank account or credit card
  • Full transaction history (including buy and sell pricing information) and ability to create an electronic transaction form for tax reporting purposes
  • Instant and free transfers of coins and tokens within Curve Wallet

Token

The CURV token has a multitude of uses:

  1. CURV holders get voting rights for which ICOs get listed on the wallet
  2. Trading fee discounts if you use CURV
  3. Creation of ICO pools if you hold 10,000+ CURV
  4. Nuke and portfolio snapshot features
  5. As mentioned, stake CURV to receive airdrops of ICO tokens

There is a total supply of 415,000,000 CURV.

50% will be sold in the token sale, 35% will be held by the CryptoCurve Foundation, and 15% will go to the team and advisors.

Also, CryptoCurve buys back a % of CURV tokens every quarter and burns them.

The token sale has a fundraising goal of $32m ($26m in the private sale and $6m in the public sale).

For the pre-sale, there is a 100 ETH minimum contribution and 25% bonus. However, there is also a lockup – 25% of tokens will be released upon CURV token release. Afterwards, 20% of tokens will be released per month for 5 months.

Team

CEO Joshua Halferty was a project manager at Hewlett Packard Enterprise for a little under 2 years and led multi-million dollar software development projects for the US Navy and Marine Corp

Chief Security Officer Sean McGurk has deep experience in IT security:

  • Director of Control Systems Security and National Cybersecurity and Communications Integration Center (NCCIC) for the US Department of Homeland Security
  • Industrial Control Systems Cybersecurity for Verizon
  • Critical Infrastructure Protection / Industrial Control System Security for Intel Security
  • Chief Security Officer of Data Center Operations for Amazon Web Services
  • Senior Policy Advisor for the Industrial Control System Information Sharing and Analysis Center (ICS-ISAC) – the private/public center for sharing knowledge on best practices for Industrial Control System (ICS) cybersecurity.

McGurk is definitely a great individual to have onboard for a wallet-based project (security being paramount).

Marketing and Partnerships Benn Godenzi – Godenzi has worked on marketing and in advisory or strategic roles for high-profile blockchain projects, such as AION, ICON, Stack, Wanchain, Quarkchain, and more. He is also the co-founder of Interoperability Alliance, which seeks to achieve interoperability amongst different blockchain networks like AION, ICON, and Wanchain. This background should be useful in CryptoCurve’s cross-chain transaction efforts.

Advisors

Dustin Byington – crisis management analyst at Goldman Sachs before turning his attention to the blockchain world, where he founded Bitcoin College, Tendermint, and Satoshi Talent. He was also the president of the Wanchain Foundation.

Rajesh Gopi – Senior Engineer at IBM and technical staff at Sun Microsystems before becoming a consultant for Coinbase and Vice President of Products and Business Development for Wanchain.

Addison Huegel – Head of Communications for Zilliqa, a hit ICO itself and advisor to multiple other blockchain-based projects

Moe Levin – Director of European Business Development for BitPay, Founder of the North American Bitcoin Conference in Miami, Executive Committee Member of Global Blockchain Council (council in Dubai aiming to make it a hub for blockchain innovation and growth), CEO of Keynote, which has produced tons of big-name blockchain conferences, advisor to multiple blockchain companies like AION, Wanchain, RSK Labs, and more.

Verdict

Below is a breakdown of the risks and growth potential of CryptoCurve.

Risks

  • The wallet sounds great but no real product yet. Seems like they’re just using open-source code from mycrypto.com for now as their wallet. (-0.5)
  • Related to the above, the technical aspects of the wallet are very ambitious – neither the team nor advisors seems to be particularly experienced in similar, tech-heavy projects. (-0.5)
  • A fiat gateway is also something that isn’t exactly easy to obtain. (-0.5)
  • Lockup for private investors a bit short considering the heavy allocation of private vs. public sale tokens and no information on maximum contribution amounts. (-1)

Growth Potential

  • Decent team, all-star advisors. Advisors should be of great help when it comes to marketing and drawing hype. (+4)
  • Steadily growing Telegram – see CryptoCurve. (+3)
  • CURV token has a lot of potential use cases that could drive demand for it (provided the wallet takes off). (+2)

Disposition

CryptoCurve has a great list of advisors and hype seems to be growing steadily for the project. Things like short lockups for private investors (maximum contribution unspecified) and ambitious goals with regards to technology and fiat gateways could limit its potential in the mid to long-term though. CryptoCurve receives a 6.5/10

Investment Details

  • Type: WRC20 – Utility
  • Symbol: CURV
  • Platform: Wanchain
  • Crowdsale: TBA, whitelist open
  • Minimum Investment: Unspecified
  • Price: 1 CURV = $0.20
  • Hard Cap: $32m
  • Payments Accepted: ETH (private sale), WAN (public sale)
  • Restricted from Participating: USA, China, Canada, or “a citizen, resident or a person located or domiciled in any geographic area or country in which your participation in this ICO may be prohibited or restricted by the applicable laws.”

For More Information

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