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ICO Analysis: DADI

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DADI (Decentralized Architecture for a Democratic Internet) is a platform for decentralized cloud and web-based services. The platform uses a Decentralized Autonomous Organization (DAO) and fog computing to bring you these services in a cheaper, more secure fashion.

The project is attempting to remove the power of the behemoths (Microsoft Azure, Amazon Web Services, Google Cloud) that currently dominate the industry. These companies can have high upfront costs, and with their centralized structure, there’s the potential that they’ll throttle up operational costs once you become dependent on their services.

DADI is ambitious, and there’s a lot of things the team is trying to accomplish. Their technical white paper goes into extensive detail about numerous things, but I’ll just cover a few of the interesting points here.

Decentralized Web Services

DADI uses a decentralized pool of Internet-connected computers to run the network and provide governance, known as fog computing. This has a few crucial benefits for the end-user:

Cost

Like most blockchain systems, the decentralized architecture greatly reduces hosting costs. DADI claims that the savings could be up to 90% compared to Amazon Web Services (AWS), but I couldn’t find any numbers to back that up. Even at half that claim, enterprise customers could potentially save hundreds of thousands of dollars each year on their cloud computing costs.

Reliability

DADI ensures that your online product will be “always-on”. Even if one server experiences issues or has a connectivity interruption, others can take its place. The AWS hiccup of early 2017 that seemingly caused outages for the entire Internet is a great example of why this type of reliability is important.

Miners

There are three classifications of miners on the DADI network:

  • Gateways
  • Stargates
  • Hosts

Gateways contribute bandwidth to the network and are the entry point for consumer requests. They also authenticate and verify responses from Hosts. Stargates are the same as Gateways but also manage domain mapping into the DADI network. Lastly, Hosts supply the computational power needed to run the web services platform.

Put more simply, Hosts help maintain the network through a Proof-of-Work system while Gateways and Stargates operate through something akin to Proof-of-Stake. The latter two need to time-lock DADI tokens in order to announce themselves to the network.

DADI Token

DADI is an ERC20 token that runs on the Ethereum network. 100,000,000 DADI tokens will be created during the ICO and the company won’t create anymore after that. The fixed supply of tokens will circulate through the system in the form of consumer fees and miner rewards.

As a consumer, you need to spend DADI tokens to use the web services. This fee is split five ways:

  1. The Host receives the majority of the payment as a reward
  2. The Gateway that the Host is connected to earns a small percentage that’s taken from the Host’s reward
  3. Another portion is used to support the underlying connectivity of the network
  4. An additional small amount is given to the DADI team
  5. The remaining amount of tokens are burned

Unfortunately, the whitepaper description of this distribution is fairly vague and omits the specific percentages of each split.

The Team

The DADI team consists of 18 full-time members. Joseph Denne leads the team as founder and CEO. Previously, he founded Airlock, an award-winning digital agency that boasts clients like BMW, Disney, and Coke.

Denne brought a good chunk of his management team over from Airlock including Chris Mair (Business Strategy) and Will Lebens (Solutions and Support Team). Lebens has experience as a Non-Executive Director at the open source platform, Symphony CMS. This should help DADI with its initial emphasis on CMS web services.

Although there’s not much blockchain experience on the founding team, they’ve brought in Technical Directors with adequate skill in distributed networks. Directors James Lambie and Francesco Iannuzzelli have over 40 years of engineering experience combined.

The founding team has been working on the DADI project for the past 4 years and has contributed $2 million of direct investment. This is great, but for a project of this scope, it would’ve been more comforting to see a team comprised of ex-employees from one of the cloud computing giants mentioned earlier.

Tokens and Distribution

The DADI crowdsale starts on January 22, 2018, and will last for 30 days or until contributions reach the $29 million cap – whichever is first.

The company will mint 100,000,000 DADI tokens at the ICO, but only 60,000,000 are available for crowdsale participants. The remaining tokens will be split accordingly:

  • 20,000,000: DADI founding team
  • 10,000,000: DADI partners
  • 5,000,000: Referral program
  • 2,500,000: Ecosystem fund (network support)
  • 2,500,000: DADI+ ops (day-to-day operations and key hires)

The 20,000,000 founding team tokens are split among the 18-person team and vest over a four-year period. Assuming an even split and no change in price, this is about $140k salary for each team member.

The crowdsale is split into a presale (10,000,000 tokens for $0.40 each) and public sale (50,000,000 tokens for $0.50 each). The presale begins on January 22, 2018, but registration is already closed, so they’re not accepting additional participants. The public sale begins on January 29, 2018, and you can purchase DADI tokens with Ethereum.

The DADI team plans to use the proceeds from the token sale as follows:

  • 45% – Marketing and partnerships
  • 25% – Research and development
  • 25% – Infrastructure
  • 5% – Indirect costs

Everything seems to be in order with the token distribution. The 20% allocation to the founding team may seem high, but when split between 18 people and distributed over 4 years, it becomes much more reasonable.

The Verdict

DADI is attempting to decentralize the web services market, an over $250 billion industry that’s growing rapidly. To do so, the company is focusing on fog computing and smart contracts to give users a cheaper, more reliable alternative to services like AWS.

The company is primarily targeting Content Management Service (CMS) users but is building out a robust platform capable of supporting all types of web-based products.

The team has a rich history together and ample experience – although this experience isn’t with blockchain technology. A project of this magnitude may see trouble at scale without team members who’ve been through it all before.

Risks

  • Poor Whitepaper. The technical whitepaper is missing critical details regarding the actual costs and fee structure split of the platform. More alarming, portions of it have been proven to be blatantly copied from another project, SONM. The team has since addressed this issue attributing it to an editing mistake, but this should raise flags nonetheless. (-4)
  • Big-time Incumbents. DADI is going up against some of the biggest businesses in the world. These companies have over 100x the resources DADI has – even after their ICO. (-3)
  • Inexperienced Team. No member of the leadership team had previously worked at one of the cloud computing giants. A project like this is bound to hit problems as the network grows and someone with that type of experience would better know how to handle them. (-3)

Growth Potential

    1. Gigantic Market. The web services market is projected to reach close to $400 billion by 2020. If DADI and decentralized hosting become the new paradigm, even a small portion of that would mean big returns. (+6)
    2. Working Product. DADI has something going for it that most other ICOs don’t – customers on a functional product. The company is receiving over $150k of monthly recurring revenues from large-scale clients like Virgin. (+5)
    3. Self-funded.  The founders have operated DADI for four years without taking any outside investment. This commitment brings legitimacy to the project. Combined with the vesting schedule of the founders’ tokens, it’s unlikely that the team will disappear with your contribution. (+3)

Disposition

Our final score comes out to +4 out of 10. This isn’t to say that DADI is a bad project, though. The company has clearly seen some success with clients and sizeable monthly revenue numbers. But this begs the question, “Why the need for an ICO?” Adding a token to an already working system seems like it may just complicate things. If it ain’t broke, don’t fix it.

All that said, this project is a classic moonshot. If the team is successful, the entire cloud computing industry is in for a shakeup and DADI should be standing tall when the dust settles. Like all ambitious projects, though, the risk of failure is high, and I’m just not sure the DADI team are the right people for the job.

Investment Details

The DADI public crowdsale begins on January 29th, 2018 and ends on February 20th, 2018. To contribute to the ICO, you can register here.

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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4.5 stars on average, based on 17 rated postsAlex Moskov is a writer and entrepreneur with a passion for building and creating awesome things. Alex has experience in music tech startups, digital marketing, and cryptocurrency investing.




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ICO Analysis : Ankr Network

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The Ankr network aims to create a permissionless, efficient, scalable blockchain, which also has built-in capabilities for interacting with existing data solutions. Its consensus mechanism is called “Proof of useful work,” suggesting that the computing resources that provide the lock will be much more efficient than existing PoW schemes. Their new consensus protocol will allow them to engage in the Distributed Cloud Computing field. It is also notable to mention that they were one of the first to implement the Intel SGX trusted devices feature.

More about ANKR network’s technology can be viewed in my previous article.

In short, ANRK network wants to change the inefficiency of existing POW blockchains and transfer all that computing power onto useful tasks. Secondly, they would like to create oracle services that will allow smooth integration of real business to the blockchain. Finally, as all new blockchains, they would like to improve the scalability of their blockchain through the introduction of plasma chain features. What I liked most is they do not aim to achieve superior numbers like 1m TPS, but only seek to implement features that would be necessary for their business.

The roadmap is rather short at this point. The project has already released their MVP and is preparing itself for the testnet launch in September of this year.

Token

The total toke  supply is 10 billion ANKR tokens. The use of proceeds is listed below:

  • Team and advisors – 20% – lockup of 7 months and vesting up to 3 years
  • Marketing -5%
  • Private pre-sale – 30%
  • Public sale – 5%
  • Mining and community – 40%

Akr provides the following use cases for its tokens:

  1. It will serve as a payment instrument on the blockchain
  2. It will serve as a mining reward for renting computing power
  3. It will serve as a community reward incentive

Team

The team is young and talented and is a part of UC Berkley Blockchain student group.

Chandler Song, Co-founder & CEO. He has diverse experience in different international companies like Didi (college intern for three months), SAP (4 months), Amazon as a software intern (4 months), and as CTO of CitySpade for five months (currently has 29 employees on LinkedIn).

Stanley Wu, Co-founder & CTO. He has strong technical skills and more than ten years of experience working for Amazon with a focus on large-scale cloud services.

Ryan Fang, Co-founder & COO.  He had some experience with credit organizations like Credit Suisse, Morgan Stanley, China Renaissance and State Street.

Song Liu, Chief Security Engineer. Principal Engineer at Gigamon for just over two years, Senior Staff Engineer at Palo Alto Networks for two years, Network Security Expert. He has skills in TCP/IP/SSL firewall coding, C, and C++ programming, and large-scale distributed computing systems.

Advisors

Christel Quek, Marketing Advisor — Based out of Singapore, advisor to Zilliqa and Switcheo Network, Founder of BOLT.

JZ Zhang, Technology Advisor — Distinguished Architect at Yahoo (over four years), Principal Engineer at Cisco (1 year), Microsoft (over three years), Blackberry and AT&T, Founder of PDX funded by Lenovo Capital. Member of Blockchain Research Group in National Internet Finance Association of China.

David P. Anderson, Technical advisor – American research scientist at the Space Sciences Laboratory at the University of California, Berkeley, and an Adjunct Professor of Computer Science at the University of Houston.

Investors and partners

The ANKR investors list is pretty impressive. Some of the more prominent investors are:

  • NGC – investment fund of NEO
  • Jlabs – blockchain division of Chinese private equity firm JD capital
  • DHVC – well know early stage investment firm from the Silicon Valley.

Verdict

Ankr is an exciting project. It provides exciting product features, focused on adoption and has the backing of serious players in the blockchain space. However, theis filled with competition, and it is hard to understand who will take the main market share at this point.

Risks

  • Competition is rather fierce even in the blockchain space. We have projects like Golem, Sonm and upcoming projects like Hypernet and Perlin as well Dfinity and Oasis Labs. -2
  • Relatively inexperienced team. -1.5
  • A long-term roadmap is not there. -1.5
  • PoUW is a new concept, so the implementation may face some difficulties. -1
  • Token metrics and lockups of private sale round could be better. -2

Growth Potential

  • A talented and ambitious team from Berkley, backed by senior engineers and advisors.+1
  • Usage of SGX chips to tap into unused computing resources may substantially decrease adoption phase. +1
  • Innovative consensus protocol. +1
  • Focus on niche industries first (specialization is better than global broad spread focus). +1
  • Github repository has committed, especially on the plasma part. +1
  • Hard cap and metrics are on the good side. +2
  • Strong backers in terms of top investment firms in the crypto space. +2
  • Part of the public sale is done through the physical token distribution (akin to Mainframe). +1
  • MVP is present .+2
  • Although most funds are raised through the private sale, it is still pretty decentralized (most parties got 200 eth). +1
  • Hype is there (50,000 people on Telegram), and reviews are generally favorable. +2

Disposition

Ankr has a decent hard cap and will probably be listed on a major exchange due to its hype and partner level. This can lead to a potentially good return in the short term, although lock up of private sale participants could be better. 7 out of 10.

Investment Details

  • Type: Utility
  • Symbol: ANKR
  • Platform: Native
  • Crowdsale: Whitelist open
  • Minimum Investment: around 400 USD
  • Price: $0.0066
  • Hard Cap: 17.8 M
  • Payments Accepted: ETH
  • Restrictions Barred from Participating: Residents of U.S / Canada / China / South Korean /Barbados & other FATF countries like Ethiopia, Iraq, Serbia, Syria, Trinidad and Tobago, Tunisia, Vanuatu, Yemen, Iran, North Korea are not able to participate

General details :

Website: https://www.ankr.network/

Telegram: https://t.me/ankrnetwork

White Paper: on the website

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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4.9 stars on average, based on 9 rated postsVladislav Semjonov has a legal and financial background. He has been involved in crypto space since early 2017 in both ICO advising positions in several ICO consultancy firms, and as an ICO analyst for VC. He began contributing for Hacked.com in April 2017.




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ICO Analysis: Metadium

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Although Facebook is one of the most successful that social networks ever existed, the year of 2018 did not start so well for them. The Cambridge Analytica data breach scandal had played a key role in that the CEO, Mark Zuckerberg, was even had been called to the court for a testimony. Its users’ data have been harvested by an app called thisisyourdigitallife and allegedly had used to build a software to influence voters. A rough estimation is that data belonging to 70 million users only from the US had been exploited, yet arguably this could be avoided if users had complete control over their personal data. No one else could share their data without their consent if they were stored in a decentralized system, so one of the biggest data breaches of the history would have been avoided.

As history shows this was not the first time that a data breach scandal has occurred in a centralized system and it is only rational to make a guess that it will not be the last time as well, which creates a need of an identification system such that users have control over their data, being able to choose what kind of data they share and when they share it.

Blockchain, being a highly secure technology, is likely to provide a solution in this area and Metadium, a decentralized identity platform, aims to be the standard solution for it with their product called Meta ID. This new kind of identity which is called “digital identity” will let users to have complete control over of where, when and how much of their personal data is shared. Without their consent no personal data shall leave the platform, thus making it (almost) impossible that data breaches like Cambridge Analytica can occur ever again.

Token

META is the native token which will be used for every action taking place on the Metadium blockchain. In order to prevent transaction overflows and avoid DDoS attacks any action will cost META and those collected tokens will be distributed to miners, thus incentivizing them to secure the network. The main usage of META token from a user’s perspective will be to attain attestation services. Their updating or linking their mundane identity which is defined in the whitepaper as a person’s identity backed by legal documents, will cost users tokens and attestation agencies will be rewarded by these tokens in the return of validating these users’ identities.

The initial total supply of META is 2 billion tokens with the following token distribution:

  1. 17% team and advisory
  2. 12% power to ecosystem
  3. 5% company reserve
  4. 5% token sale

1 billion META tokens, 50% of the initial total supply, were already sold for a total of 38,000 ETH in the private sale stage, averaging a price of 0.000038 ETH per token. As the crowdsale will be USD-pegged and the same rate will be available to crowdsale participants, these late-comers will have to pay much more in ETH due to a recent drop in ETH prices. No vesting period for institutional investors, unless they are advisors, exists, thus some selling pressure might be expected as only 2.5% of initial token supply is allocated for the crowdsale. A vesting period of 6-12 months for team and advisor tokens shall be implemented, though further details are not released yet.

The team is planning to use the token sale proceeds as follows.

  1. 10% legal and accounting
  2. 10% operational expenses
  3. 15% marketing
  4. 65% research and development

The crowdsale is expected to take place in early September and details on KYC and white-list procedures will be released shortly.

Team

CEO Justin Park – Before joining to Metadium, Park was a senior manager for Gobi Partners, a venture capital based in Kuala Lumpur, Malaysia. Prior to this position, he held the CEO position at Smilegate, a Korean game company, known mostly for their first-person shooter game ‘Crossfire’.

Co-founder Ryan Uhr – Uhr, a former chief engineer at Hyundai Electronics, has founded Coinplug, a Korea-based company providing blockchain services, in 2013. Among exchanges, prepaid cards and ATM’s, Coinplug has developed a blockchain identity verification platform, OpSign, implying that Uhr comes with great experience in decentralized identity verification platforms.

COO Richard Yun – Yun is the COO of Coinplug and a former senior financial analyst at Cisco.

The existence of many team members from Coinplug is definitely a good sign as this indicates the team’s overall experience in blockchain products.

Advisors

Bo Shen – Shen is a founding partner of FenBushi Capital, one of the biggest blockchain venture capital funds.

Roger Ver – Ver is an early Bitcoin adopter, a founding member of Bitcoin Foundation and Bitcoin.com’s current CEO.

Jack Liu – Liu is a co-founder of OKEx and is the current head of trading at Circle Asia Pacific.

All ten advisors Metadium has are quite important players in the blockchain space and can push a fast adoption phase for the project.

Partners

The only technological partner Metadium has is Coinplug. Coinplug holds the highest number of blockchain patents in Korea and the second highest in the world, which is overwhelmingly impressive. The team has previously worked on a decentralized identity product. As noted earlier in the analysis, many members from Coinplug also work in this project, bringing immense value, team synergy and experience.

Investors

Metadium is funded by eighteen institutional investors. Even though this number alone is quite striking; the existence of huge players such as 500 Startups, FBG Capital, Hashed, Smith + Crown and PreAngel in this list is just incredible.

Verdict

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

Risks

  • As the private sale was pegged to USD, ETH price has decreased immensely since the private sale took place, approximately from 880 $ to today’s 285$, unless we see a huge ETH run before the crowdsale, the crowdsale participants will have to pay much more ETH, (approximately 3x more ETH). Combined with no locking period for institutional investors, unless they are advisors, this might create great selling pressure before the project takes off. (-3)
  • Not all details on the crowdsale are made public yet. (-0.25)
  • Competition with already existing and upcoming projects. (-0.5)

Growth Potential

  • Really great team mostly formed by Coinplug members. (+4)
  • Backed by many important venture capital firms. (+2)
  • Metadium Blockchain Prototype, 1.0 & API is expected to be released in Q3 2018. This will most probably create buying pressure, or at least remove some selling pressure. In the case of the market’s finding itself in another bull run until then, Metadium might yield great returns. (+3)

Disposition

Metadium has a great team with lots of experience and aims to solve an important real-world problem. It is not unlikely that they beat their competitors by means both of adoption and the product. Metadium receives a 5.75/10.

Investment Details

  • Type: ERC20 – presumably utility
  • Symbol: META
  • Platform: Ethereum
  • Crowdsale: Early September
  • Minimum Investment: Unspecified
  • Price: $0.0325
  • Hard Cap: Unspecified
  • Payments Accepted: Unspecified
  • Restricted from Participating: Unspecified

For More Information

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: Agate

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Agate is the world’s most comprehensive decentralized blockchain platform for instant payments. It connects physical stores, online merchants, users and developers to the crypto economy.  Imagine PayPal, but with all the neat new bells and whistles that blockchain, smart contracts and machine learning bring to the table, including a fiat backed platform stable coin called iFiat, which helps control volatility risks that usually come with crypto.

Agate plans to launch its Proof of Stake mainnet in Q1 2019.  There will be a heap of different elements to the Agate Ecosystem. Here are the highlights.

  • Token Generator: Allows users to create their own token through a user-friendly platform without having to write any code. Users will brand and market their products and services under Agate’s blockchain. The token generator will be fueled by AGT token, which will remain at the core of the platform.
  • AI Powered MultiCurrency Wallet: Their wallet is in development and can already store 5 cryptocurrencies. It will be fully launched by Q4 2018 at which time users will be able to store 17 different crypto-assets. The wallet will be integrated with an AI engine that uses machine learning software that has the ability to advise users with the best time to convert their crypto into iFiats to realize the highest possible gains.
  • Stable Cryptocurrency: This is a game-changing feature. Separate from AGT token, a stable coin pegged to the dollar, called iFiat, will be used to settle transactions in real-time. Each iFiat unit has a 1:1 ratio with the underlying currency unit, this facilitates a stable payment system ensuring merchants receive the full spendable value for their payments while eliminating volatility risk.
  • Trading Bot: Allows users to load multiple cryptocurrencies into the Agate ecosystem and then set multiple rules for the bot to execute trades when market conditions are met.
  • Merchant Facing Multiple Payment Gateway: Easy to install payment apps/plug-ins and an open source Agate Payment Gateway API will allow merchants and e-Commerce platforms to accept crypto as a mode of payment with no hassles.
  • Decentralized Exchange: Agate’s iFiat ecosystem will include a Decentralized Exchange (DEX) that will allow fast transactions on the network for merchants to convert their crypto into iFiats instantaneously. Further helping eliminate the volatility risk that comes with crypto.
  • Merchant POS Terminal and Merchant App: Enables brick and mortar stores access to Agate’s POS terminal. With the Agate Merchant App, merchants can receive payments in their own iBucket which facilitates easy bank transfers or the money can be loaded into their own cards for instant spending.
  • Crypto Debit Card: Agate Debit card. The goal is to partner with the worlds leading card providers to allow Agate debit to work at “over 30 million stores globally.”
  • White Label Provider: Agate Blockchain will provide the Agate API Suite, a white label solution that allows developers to build their own DApps or DAO on Agate’s strong and reliable network while improving the entire Cryptoeconomy.

Token

AGT token is separate from the above-described iFiat (stable) token.

The whitepaper lists several ways which AGT token will be used, including:

  • All Exchange orders between different currencies will cost 1 AGT token.
  • Any trade bot trades will cost 1 AGT at the point of execution.
  • To load card or request bank transfers, users will have to pay 1% fee in AGT tokens.
  • Agate token generator costs 50 AGT.
  • At some point, they will switch from Ethereum to their own mainnet. When this happens, AGT will become minable thru Proof of Stake, which will cost 50,000 AGT tokens to run a node.
  • AGT will be required to execute smart contracts.

Distribution:

  • 65% Crowdsale
  • 10% Team
  • 5% Advisors/Partners
  • 5% bounty/airdrop/referrals
  • 15% Reserved for the Agate Ecosystem

Allocation:

  • 40% Research and Development
  • 40% Marketing
  • 5% legal and compliance
  • 10% Operation and Admin
  • 5% Unforeseen Events

The team will lock up their tokens for one year. All unsold tokens will be burned.

Team

Based in Sydney, Australia, the site list 16 team members including tthree founders.

  1. Hamed Taghvaei-   A serial founder of tech companies, including Drone Online, Myservo, King ICO and Business and Demand Group PTY LTD.
  2. Hamid Ostad –  Impressive resume. Since 2016, he’s been the Solutions Architect at BPay Group, a successful Australian bill payment company. He has seven years of experience as tech lead at Creative Digital Technology and five years Dev Manager at Gpayments PTY.
  3. Ali Dorri – PhD candidate at UNSW studying blockchain. He seems to be a blockchain tech expert. No work history listed; his description says he’s worked with several successful blockchain projects already.

A few of the team members stand out.

Ehsan Jahandarpour – CMO. An influencer, he was ranked top 20 growth hacker in 2016 Forbes.

Ariya Chittasy – The website says he’s helped produce four startups over the last eight years, and twi of them are successful. Currently at  Engenesis Ventures, where he “is working with visionaries and innovators to create tech-based companies that serve the world ”

Odette Abrenica – UI/UX Designer. She also has the same role at Engenesis.

Jaemie Dela Pena – Product Design Lead for Agate and Engenesis.

Asi Asgher – Project lead, also works at Engenesis.

There are six advisors – they look decent. J Brenton Smith was the VP & GM Asia Pacific & Japan business of Dell Software Group.

Verdict

There’s plenty to love about the project including a few unique, possibly groundbreaking ideas. However, there is also plenty of risk. Debit cards for one. Countless blockchain projects have come out with their ICOs talking about how they will have a debit card which can be spent with different cryptos all around the world, yet all of them have flopped so far.

Risks

  • Their Telegram channel is for announcements only. It’s going to be hard to grow a community around the token if they can’t talk to each other easily. Also seems kind of shady to not allow possible contributors the ability to ask questions in real time. -1
  • The founders of Agate also recently founded an ICO launching business called King ICO. And most of the team is from a company called Engenesis which is a blockchain project incubator. This means there’s a possibility this team is not serious about making Agate, and are more into making millions of dollars doing ICOs. -1
  • Laws/Regulations. It’s going to be really hard to get the proper banking licenses required to fully run the Agate platform world wide. -2

Growth Potential

  • According to the roadmap. Q1 of 2019 is when they will be hoping to get their proper banking licenses. +1
  • The community seems to like this project, although some of the enthusiasm can be chalked up to their bounty/airdrop program. A large majority of ICO review websites give this project a 90+, or A ranking. And the Bitcointalk page is filled with enthusiastic supporters.+2
  • If this succeeds, the sky will be the limit. +1
  • Teams tokens will be locked up for 1 year. +1
  • 50,000 AGT must be staked in the future to run a POS node. +2
  • GitHub is active and there are several beta demos of diff aspects of the platform. +1.5
  • Several backers. +2

Disposition

High risk/ high reward. If they build everything they talk about in the whitepaper, and then get the proper banking licenses, this could moon. +6.5/10

Investment Details

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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4.1 stars on average, based on 23 rated postsJoshua Larson is also known as the "Bullshit Man" for his ability to spot it a mile away. Avid ICO researcher and contributor. Former professional poker player/backer. Spent 10 years analyzing hand history, stats, and player data. Discovered blockchain in late 2016, and never looked back. He now uses his analysis skills to investigate ICOs full time. What a perfect match, because in today's crazy world of ICOs, information, passion, and diligence = dollar bills!




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