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ICO Analysis: Edenchain

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Edenchain purports to be the next generation smart-contract blockchain platform designed for enterprises to implement a ‘programmable economy’. Through Edenchain, users will be able to capitalize tangible/intangible values and trade them safely, quickly, transparently and effectively on the Eden Exchange. EdenChain wants to build a blockchain and platform to support applications across various sectors, including:

Edenchain identified the following trends in the blockchain, and how it will solve problems with existing blockchain platforms:

  • There is an ongoing trend in the development of the programmable economy, but the main obstacles that hinder adoption of blockchain platforms are scalability and performance.
  • Almost every transaction involving tangible assets is sold and managed by intermediaries, which increases transaction costs.
  • There is an absence of platforms that can serve as intermediaries for enterprises and individuals to capitalize on their intangible assets.
  • There is a lack of talented developers with blockchain knowledge to help companies adopt blockchain technology, slowing adoption rates.

In view of the trends above, Edenchain’s proposed solutions are:

  • To solve scalability by combining namespace technology with Merkle Tree, so that it can isolate transactions by namespace and ensure high-performance and scalability. Edenchain constructed an execution system capable of parallel processing by namespace, which allows ease of scaling. Each namespace can process up to 1,000 transactions per second. To scale, an enterprise can simply increase the number of namespaces.
  • To ensure a secure platform, Edenchain offers a high level of security with regards to interoperability by implementing both hardware and software solutions. For hardware, intel SGX enclaves are used to protect against attackers. For software, Elliptical Curve Cryptography and Threshold Cryptography are used.
  • To create a market for all tangible and intangible assets, Edenchain allows users to tokenize their assets. Thereafter they can be traded as a cryptocurrency.
  • External data are ensured for reliability through the use Median Voter Theorem for continuous variables.
  • Energy-efficient consensus algorithm via Proof-of-Elapsed-Time which was developed by Intel, randomly selects a lead node to generate the next block.
  • Use of APIs to interact with Edenchain’s blockchain, shortening development time and cost. There is no need for extensive knowledge of building blockchains. Most developers are already comfortable using APIs. This speeds up adoption of Edenchain.

Edenchain is a permissioned blockchain which allows multi-functional usability and strikes a balance to harness the advantages of both public and private blockchains. It is unlikely that enterprises will adopt pure public blockchains because they have sensitive data that cannot be revealed to their competitors. A permissioned blockchain, on the other hand, offers some privacy with some decentralization.

Edenchain says it will offer the following advantages:

  • Secure Interoperability: Ensures secure interoperability among on-chain and off-chain services.
  • High Performance: Parallel execution; the blockchain’s speed is based on a parallel process of transactions.
  • Per Transaction Fee: Affordable and reasonable processing cost for smart contract execution.

Edenchain also operates other products, including n ICO platform called HelloEden. This will be a full-service ICO platform, which provides a tokenization ecosystem, including legal services, KYC, smart contract development and marketing, among other services.

Cleandeal, a B2B open-market platform run by YT Corp. This platform will be launched in Q4 2018.

It also offer sMyCreditChain, which is the Pintech Firm Finger subsidiary that provides financial services P2P. This company uses the Edenchain platform for granting coins and blockchain technology for a rendering of services of P2P. This will be launched in early 2019.

The project roadmap is presented below:

Edenchain has a technical and business roadmap. Let’s start with business one.

Right after the ICO, the team will work on partnerships and the HelloEden ICO platform. In fact, the team has already been working on partnerships with their recently announced MoU signed with Across Asia Alliance (a network of 21 Venture Capital firms with over 780 traditional startups in their portfolio). More partnerships are expected during Q3 and Q4 of 2018, as well as the launch of EdenExchange and the full scale operation of the first ICO on the HelloEden platform.

The technical roadmap complements the business roadmap with key developments, including the release of a prototype in Q2 2018 and a Testnet launch in Q4 of the same year.

Launch and Prototype

The team has announced that two MVPs will be demonstrated prior to token sale. They have also said that these are the only two among many other products to be built on Edenchain. The team has already released the first MVP, E-Explorer, as per their roadmap. This shows that the team is able to deliver on its promises.

Competitors

Edenchain competes with all other blockchains, but the most important are EOS and ICON.

Consensus

ICON deploys Loop Fault Tolerance (LFT) Consensus algorithm, which is an optimized form of Byzantine Fault Tolerance solution. LFT allows achieving consensus in two steps against three steps as in BFT.

EOS also uses energy-efficient consensus algorithm called Delegated Proof of Stake (DPoS), although the main issue with that algorithm as per Vitalik Buterin is susceptible to bribery attacks, which can result in centralization.

EdenChain utilizes both a hardware and software solution to arrive at a consensus.

Eden uses Proof of elapsed time (PoET), designed and marketed by Intel. PoET is more efficient than regular POW. The integrity of the selection process is secured by Intel’s Software Guard Extension (SGX). The second consensus protocol uses Median Voter Theorem (MVT) to ensure continuous-type data fed to the nodes by E-oracle servers. Eden also has a unique triple layer architecture — the base layer, the validation layer (virtual machine) and the off-chain communication layer with oracles.

Speed

In terms of speed, ICON’s (although not explicitly mentioned) loop blockchain can do 3,000 transactions per second (TPS) per channel/layer with additional layers/channels added later, implying  apossible speed of 9,000 TPS or more.

EOS architecture will support millions of TPS.

EdenChain can theoretically handle the limitless amount of TPS as it generates as many namespaces as needed and each transaction in maybe be paralleled. Each namespace runs 1,000 TPS.

Token

The project has following token metrics:

  • Token supply: 1.000.000.000 EDN
  • Hard cap: 24.000.000 USD
  • Price: 0.06 USD
  • Pre-sale A – had a bonus of 20%
  • Pre-sale B – has a bonus of 10%

A hard cap is reasonably small both from a token metrics perspective and in comparison to similar projects (for example Yggdrash had a hard cap of $40 million USD). The bonus structure is also reasonable.

The token distribution is as follows:

Edenchain allocates 40% of the total token supply for the token sale. It also has implemented reasonable vesting periods and lock-ups in order to avoid risks of token price dump after listing on the exchanges.

Under such vesting period, all sold tokens would be only released in batches of 1/5 (including all bonuses) and the first batch will be released several days before listing which will approximately happen at the end of June/beginning of July.

From a token economics perspective, Edenchain is incredibly attractive because it serves multiple purposes. EDN will be used for transaction fees over the network, exchange fees for trades on EdenExchange, collateral for ICOs listing on Edenchain platform, and to operate master nodes. Developers will need to use the token in order to use the blockchain and operate their service offering on it. 

On the supply side of tokens, the team has adopted a hyper-deflationary model, where a portion of EDNs used as transaction fees will be burned, reducing total supply of the tokens.

The confluence of increasing demand with enterprise adoption of Edenchain and decreasing supply suggests an attractive valuation for EDNs in the future.

Team

As with all blockchain platforms, the team is one of the most crucial factors that will make a project successful. Edenchain appears to have a solid mix of talented developers and business leaders to grow the platform and encourage adoption by enterprises.

The four core developers are in their 30s to 40s. This comes as a strength because of their extensive experience in high-end technology. This differs vastly from most other blockchain teams, which are commonly made up of students who have little business experience and had just graduated from university.

James Ahn has over 20 years of experience in IT. He is the Founder and CEO of MHR Inc. (Software development for Machine learning), as well as the Founder and CEO of DeepNumbers Inc. (Financial Machine learning). He is an adviser of the NIA Platform, a technical adviser to the National Computing & Information Service and an adviser to Cloud for the Korean Agency for Technology and Standards.

Jenny Ryoo was was leading scientist in MHR Inc. for 11 years and was also engaged in research for the Korean government.

Hokyun Kim has over 18 years of IT experience who developed SK Telecom’s WAP Mail Gateway technology, which provides standardized APIs on 7 portals, reeling in 200,000 paid subscribers within a month of service launch.

Brian Park’s experience in IT spans over 15 years, including stints at SK telecom and Korean telecom. He developed direct push technology on Windows Mobile and other software.

 

Overall, the adviser team is a better than average. All advisers are confirmed with many coming from a science background and serving big-name companies.

The company’s partners include Byzantine Partners (a venture capital firm), Across Asia Alliance (a larger network of VCs) and Finger, a specialized fin-tech company.

 

Verdict

Edenchain offers a highly ambitious solution and product. It is a Korean blockchain like ICON and the market expects a similar performance from Edenchain. Comparison against EOS has also been made and we might see Edenchain achieve similar results as EOS. It should be noted that Edenchain has successfully delivered their first MVP and highly regarded cryptocurrency influencers such as Ian Balina have shown interest in the platform. The combination of ambitious project scope, excellent team expertise, working MVP and high hype level makes Edenchain definitely a worthwhile investment.

Risks

  • The project’s main risk in the fact that it is  too ambitious. This can make not only lead to a lack of focus, it may instill false expectations in the market. As a result, Edenchain will be scrutinized very closely by its proponents as well as the market more generally. (-2.5)
  • It will be a first global project of such scope for many of the personnel on board. (-1)

Growth Potential

  • A very ambitious project which aims to solve numerous problems (scalability and security) in the blockchain space as well as offering a wide range of services related to tokenization and supporting global blockchain ecosystem and community. (+1)
  • The blockchain platform was designed specifically for enterprise users, making it easier and likelier for their adoption. (+1)
  • Good team with knowledge and technical expertise to meet their goals. (+1)
  • The team has successfully released their MVP as per their promise. (+2)
  • Token metrics and token offering structure are reasonable and well-developed. (+1)
  • The project has huge hype potential. All opinion leaders put Edenchain in their top 10 ICOs list. Ian Balina has shown interest in this project. (+2.5)
  • The technical whitepaper is very detailed and explains the architecture, security, and technology very well. (+1)
  • The project has a realistic roadmap, which they have been achieving so far. (+1)

Disposition

A good combination of product, team and token metrics give Edenchain a favorable score. The team has delivered on its promises so far. The project has a working MVP and high-level hype and support of opinion leaders. Considering that all of Edenchain’s competitors like Wanchain or ICON have a high market capitalization, Edenchain may be considered more attractive with its smaller market cap. At the same time, the market has a similar positive outlook on Edenchain in comparison to its competitors. Factoring all the above, Edenchain receives a score of 7.5 out of 10.

Investment Details

  • Type: Utility
  • Symbol: EDN
  • Platform: Ethereum/Own platform
  • Crowdsale: June
  • Minimum Investment: TBA
  • Price: 1 EDN = $ 0.6
  • Hard Cap: $24 million USD
  • Payments Accepted: ETH, USD
  • Restrictions Barred from Participating: USA, Iraq, and China.

General Details

  • Website and whitepaper: https://edenchain.io/, WP.
  • Telegram: https://t.me/edenchainio
  • Medium: https://medium.com/edenchainio
  • Facebook: https://facebook.com/edenchainio
  • Twitter: https://twitter.com/edenchainio
  • Reddit: https://www.reddit.com/r/edenchainio/

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 42 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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  1. Prospero42

    May 9, 2018 at 1:12 pm

    Sounds great. Unfortunately whitelist is closed and there appears to be no prospect of buying it until tokens are unlocked when it lists on a major exchange.

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ICO Analysis: Devv

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One of the major issues with blockchain technology is that the underlying platforms are unable to adequately service high amounts of usage without compromising on speed and transaction costs (“the scalability problem”).

In fact, many see this as one of the foremost obstacles for blockchain to overcome in order to achieve widespread adoption and become the basis for a new and decentralized Internet.

Various projects have sprung up and are in the works with the focus of tackling the scalability issue.

Devvio is yet another contender to step into the arena for scalable platforms and has developed a blockchain protocol called Devv that claims to address blockchain’s major issues including scalability as well as fraud, loss, theft, privacy and stability.

While seasoned ICO investors might have heard this pitch one too many times, Devv has processed over 1 million transactions per second (tps) on-chain and is currently benchmarking at over 8 million tps on-chain, the results of which can be seen here. Those would like to delve further into Devv’s technology can check out the Devv whitepaper and Devv Github.

By solving the aforementioned issues of scalability, fraud, loss, theft, privacy and stability, Devvio believes that their cryptocurrency has the potential to really grow into the preferred way for instant value exchange worldwide.

Moreover, similar to platforms, such as Ethereum and EOS, developers can build Dapps on Devv but not be limited by high fees, low transaction throughput, and sub-par security at scale.

Some use cases the Devvio team foresees for Devv include the following:

Financial Services

Using Devv to manage exchange, hedging, payments, and repatriation of funds.

Data

Using Devv to manage sensitive data in a highly secure environment.

Logistics

Track and manage goods as well as reduce traditional insurance and logistics costs.

Token

Devv’s token will be used to enable value and asset exchange similar to other cryptocurrencies and tokens.

Devvio will initially issue ERC-20 tokens to investors before ERC-20 tokens are swapped for native Devv tokens at a 1:1 ratio.

Devv tokens (total supply 500m tokens) will be allocated as follows.

  • 30% token sale (150m tokens)
  • 30% company reserve (150m tokens)
  • 20% partners and acquisitions (100m tokens)
  • 15% founders and partners (75m tokens)
  • 4% advisors (20m tokens)
  • 1% bounties and community (5m tokens)

According to the Devv whitepaper, token sale proceeds will be used in the following manner (assuming the hard cap of $18m is met):

  • 15% technical development
  • 12% Devvio operations
  • 12% business development
  • 18% Intellectual property development, licensing, and enforcement
  • 20% marketing
  • 8% supporting technologies
  • 15% token sale fees

The amount of Devv tokens issued to investors will vary depending on how much is raised during the token offering. For instance, if the hard cap of $18m is met, token purchasers will receive 150m tokens as mentioned.

2% of Founder, Partner, and Advisor tokens will be available upon the Token Generation Event (TGE) and 98% will be vested with a cliff of 1 year at a rate of 1/8th each quarter for 2 years (after the initial 1 year lockup period).

Team

Devvio team members include the following:

CEO Tom Anderson – Anderson was the founder of Novint Technologies, a robotics company which made the first 3d touch device for consumers. Anderson is considered a pioneer in haptic technology (integrating the sense of touch into computers and virtual reality). Novint raised over $30m, licensed game development worth tens of millions of dollars, and more before its patents were sold to Facebook.

Advisors

Tokenmarket – well-known token sale organizer that has helped ICO clients, such as Civic, Storj, and Dent.

More team members and advisors are listed on Devvio’s team page.

Verdict

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

Risks

  • Like many projects – not fully released. First stable release of Devv blockchain is set for Q1/Q2 2019.
  • For a highly ambitious blockchain platform (“solving” scalability, fraud, loss, theft, privacy and stability at the same time), no one on the team has standout experience working on similar projects.
  • Token allocation for token sale could be higher.
  • Though the token sale date hasn’t been specified, interest on social platforms thus far seems relatively low for a project of its scope (e.g. ~2.8k Telegram channel members and ~1k Twitter followers as of writing).

Growth Potential

  • Testnet available and not a complete whitepaper/vaporware project like many ICOs.
  • Team has had business success in other endeavors (e.g. Novint).
  • According to the Devv FAQ (“Do you have any patents”), the team has patented their ideas to build somewhat of a protective moat.
  • Instead of accepting that thefts occur in the blockchain/cryptocurrency space like most other projects, Devv has an optional transaction method (similar to credit card chargebacks) called DevvProtect. Optional DevvProtect wallets guard against common issues like stolen private keys and lack of asset transferal upon events, such as a token holder’s death. These are definitely interesting features that would probably be of interest to businesses, Devv’s intended audience.

Disposition

Although jaded ICO investors are probably tired of hearing about platforms that will solve scalability among other blockchain technology obstacles, Devvio’s Devv blockchain does show promise with its benchmarking of 8 million tps and testnet available for use. This in addition to the team’s business experience, focus on patents, and innovative features like optional transactions make the project one to keep an eye on as long as they can deliver technically and garner adequate community interest once the ICO date is announced. Devv receives a 7/10.

Investment Details

  • Type: ERC20 – Utility then Native
  • Symbol: DEVV
  • Platform: Ethereum then Native
  • Crowdsale: TBA
  • Minimum Investment: Unspecified
  • Price: Unspecified
  • Hard Cap: $18m
  • Payments Accepted: Unspecified, presumably ETH
  • 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: Fieldcoin

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Fieldcoin is an agribusiness crowdfunding platform that enables anyone to buy, sell, rent, and manage farmland from anywhere in the world. Using IoT, smart contracts, and other agribusiness technology, token holders will form a DAC (Decentralised Autonomous Community) and vote on every aspect of their chosen agribusiness from seed to table.

“Fieldcoin’s mission is to bring the blockchain technology to land property transactions and agricultural crowdfunding projects while creating a stable transaction instrument easing the process of land and agribusiness acquisition.”

Fieldcoin will offer access to LANDS Management Services. Investors will be able to buy/sell/manage physical land of different sizes and budgets at an attractive price compared to the market value.

The company claims to:

  • Brings liquidity to the agricultural industry
  • The token is backed by land.
  • Decentralize the highly centralized agriculture market
  • Track the origin of food products.
  • Manage the way the food is grown (pesticides or organic)

Along with the above highlights, Fieldcoin’s “trade-back token” guarantees an 80% ratio on the value of your token to the assets in the ecosystem and the possibility of claiming your assets in physical property at a certain rate under the market price.

In the Fieldcoin ecosystem, there are 2 levels of ownership: “Off-chain,” which is to comply with national regulations and “On-chain,” which is recorded and transacted on the blockchain.

  • Off-chain: Fieldcoin Ltd or a third party company DAO (decentralized autonomous organization) owns the property titles recorded in the national land registry. The token holder owns a share of the company representing the specific land acquired on the platform.
  • On-chain: Fieldcoin Ltd creates a unique token with a unique number representing a specific property called LANDS (ERC721). The LANDS token represents the ownership of the property and can be exchanged on the Fieldcoin platform using the Blockchain.

The FCO will start April 2nd, 2019.

FCO means Field Coin Offering. It’s like any ICO, users buy (FLC) ERC20 Utility tokens which are used to acquire non-fungible tokens (ERC721), which represent a particular agricultural property. “The acquisition of NFT tokens during the ICO makes the Field Coin Offering unique and offers a strong advantage to investors that are able to test the platform and own tangible assets during the Coin Offering.”

Token

FLC is an ERC20-based utility token distributed during the FCO. The token is used as a currency to buy land, services and crowdfund agricultural projects on the platform.

LANDS is an ERC721-based token received after buying a specific land property through our platform, representing land ownership and storing the data of your property. LANDS are also available for purchase during the FCO.

According to the company, trade-back token is “Token holders will buy land on Fieldcoin’s platform and pay the full market price displayed on the website. They will be credited with a coupon to buy land for later purchases. The value of the voucher corresponds to the difference between the price drop of the token under the 80% threshold and the actual value of assets in Fieldcoin’s Ecosystem. The coupon can be applied to available properties sold by Fieldcoin Ltd on the platform.”

Distribution:

  • Private Sale 2%
  • FCO 60%
  • Token Bonuses 17%
  • Reserves 10%
  • Team 9%
  • Bounty 2%

Allocation of funds:

  • 60% Purchase of Physical Land
  • 15% Agribusiness Development
  • 10% IT
  • 7% Legal
  • 6% Marketing
  • 1% Reserve Fund
  • 1% Social and Rural Development

Ecosystem asset reallocation:

  • 85% Land Recapitalization
  • 9% Business Operations
  • 5% IT Development
  • 1% Participation in Communities

Team

The Fieldcoin project is governed and supervised by Fieldcoin Ltd, registered in London. The team members are from France, Canada, USA, India, Belgium, Italy, the UK, Pakistan and China. There are over 25 team members including the advisors.

Marc Couzic is the  Founder/CEO.  He is a freelance commodities and crypto trader since 2013 and has been a “Contributor” to 3 blockchain projects this past year; Experty.io, Kart Block, and Magna Numeris.

Alexandre Palubniak is a Web Project Manager from France. He has spent 7 years as a freelance “Director Artistique”.

Jeremie Joncas is a COO from Canada but there is not much info on him. He owned a business for 4 years called J2 Entretien (but can’t find any info in it). He’s traded crypto for the last 1.5 years.

The rest of the team is similar to the above – very little experience in agriculture or blockchain.

There are also 10 Contributors/Advisors. They are average.

Verdict

When describing the benefits of Fieldcoin in Telegram, CEO Marc Couzic had this to say, among other things.

“Yes, it is a share profit system where 40% of net profits on production goes to the externalized land management company or farmer (choosen by Fieldcoin) exploiting the land and 60% to the owner. The holder of LANDS tokens won’t need to do a thing besides participating in decision concerning the type of crops and agricultural method used on its land. The idea is to levy the burden of execution for the investor and move towards agricultural automation processes. Additionally, the price of land grow on average 2-3% worldwide”

The idea of Fieldcoin is to have Decentralized Autonomous Communities that will decide on the agriculture products and management of their lands. They will vote on things like the amount of pesticides used, or if they want pure organic or reasonable agriculture.

The problem is DACs are complicated. Billion-dollar projects like Ethereum and EOS are still developing the tools to perfect them. Does Team Fieldcoin even have the ability to execute this massive project? It seems iffy, as they are fast approaching on the pre-sale and do not have an MVP. They only have this picture of one.

Risks

  • Small soft cap of just $3 million USD. According to the company: “the Proof of Concept can only be implemented once the FCO has reached $5 million USD. In the event of the cap not being reached, the Proof of Concept will be postponed.” This is sketchy. -1
  • The team is not very impressive at all. -2
  • Their business plan requires the minting of new Fieldcoin tokens to buy more land. They explain the process in detail here. -1
  • Only 13% of the funds raised will go to legal and marketing. -1
  • DACs are complicated. Many top projects are delaying launch until they figure out governance. -2

Growth Potential

  • First mover advantage. +2
  • They say they’ve already purchased land, have buying promises and about 35 offers to be displayed. +2
  • 85% of the Ecosystem asset reallocation is reserved for new land acquisitions further expanding the Ecosystem.+2
  • “Fieldcoin plans to target low-risk and average potential markets first, such as the countries within the European Union, and will then move slowly to countries with more venture capital and with much higher expected returns for Fieldcoin’s Ecosystem.”+1.5
  • 1% of the Fieldcoin tokens will be allocated to the Fieldcoin Foundation, which aims to develop community infrastructure. This project includes plans to build schools, water wells, irrigation systems, and roads.+2
  • “The Fieldcoin token is supported by “Trade-Back Protocol”, offering token holders the possibility to claim LANDS at a reduced price in case of market dips. Thanks to our upward trend capitalization mechanism, new physical lands will be acquired by Fieldcoin Ltd. increasing the guarantee of the Trade Back Protocol.”+2
  • Although we don’t score Fieldcoin well, these “respected” ICO sites have them ranked rather high. +0.5

Disposition

The tools required to build a proper DAC voting system are only now being built. Although something similar to this DAC agribusiness will someday soon be a reality, this project is too early and too ambitious, especially with such an inexperienced team. 5/10

Investment Details

  • Symbol: FLC (ERC20)  LANDS (ERC721)
  • Platform: Ethereum
  • Total Supply: 1 billion
  • Presale: Feb 4 – Feb 12, 2019 (100% bonus, 1 million USD worth of tokens available)
  • Price: 1 FLC = $0.05
  • FCO (Field Coin Offering) Start date: April 2nd 2019.
  • Hard Cap: $31 million
  • Soft Cap: $3 million
  • Telegramhttps://t.me/fieldcoin
  • Websitehttps://www.fieldcoin.io/
  • Barred Jurisdictions: USA and China

All unsold tokens will be burned.

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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4.2 stars on average, based on 27 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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ICO Analysis: ECOMI

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ECOMI Collect is a delivery cross-platform (mobile, desktop, web) application and marketplace for buying, selling and swapping premium licensed digital collectibles and digital artwork. The authenticity and scarcity of digital collectibles is created using Distributed Ledger Technology (DLT). ECOMI Collect is operated and supported by ORBIS Blockchain Technology Limited, a registered company in New Zealand, with offices in New York, Auckland, Taipei and Shanghai. ORBIS is comprised of 17 staff plus 14 board members and advisors.

ECOMI has a vision of being the #1 platform for buying, selling, and trading premium digital collectibles and virtual goods using Distributed Ledger Technology. ECOMI plans to revolutionize the 200 billion USD collectibles market by building its own ecosystem (ECOMI Collect) on Blockchain technology and a Secure Storage Wallet. ECOMI already has major brands on board that will give them instant worldwide attention and credibility. They also have a team that is unparalleled in this industry including their Head of Global Licensing, Alfred Kahn, who is responsible for bringing Pokemon to the world as well as “go to market” strategies for iconic brands such as Cabbage Patch Kids, Pokemon Go, Teenage Mutant Ninja Turtles, Yu-Gi-Oh and many more.

ECOMI Collect will give users real ownership of premium licensed digital collectibles and virtual goods while providing counterfeit protection and the ability for peer to peer transactions. ECOMI Collect intends to dominate this market by capturing six main categories: movies, television series, evergreen characters, animation, gaming, and digital art. Every user will have their own personal showroom which they can customize by using different layouts, backgrounds, and props. Users can make their showrooms private or public, and even share across multiple social media platforms. The vision is to revolutionize the collectibles industry by creating the world’s best platform giving users the freedom to interact and control their digital collectibles worldwide.

The ECOMI Secure Wallet is the world’s first wireless, credit card sized, cryptocurrency hardware wallet. It is a true cold wallet that never connects directly to the internet that employs (CC EAL 5+ Security) government level encryption and security. It also uses an encrypted secure Bluetooth connection to the host device (iOS or Android smartphone) removing the need for a wireless connection. The Secure Wallet has an E-paper display on the card to view balances and pairs with the ECOMI app to view manage balances online. The ECOMI Secure Wallet can bend, waterproof, and has a fully rechargeable battery. There are no extra fees or contracts and it currently supports Bitcoin, Ethereum, Ripple, Litecoin, and Bitcoin Cash.

Token

The ECOMI token is needed for the sale and purchase of digital collectibles and secondly, access to extra features and benefits within the app. The digital collectibles offered through ECOMI Collect are Non-Fungible Tokens (NFTs). In order to facilitate the purchase and trade of digital collectibles, ECOMI Collect utilizes the OMI token. The OMI tokens will be GO20 standard whereas the digital collectibles are GO721 (NFTs). When a purchase of a collectible is made, the OMI tokens will be exchanged for the NFT. The NFT will be sent to the users Ecomi Collect app and become rightfully theirs, whilst the OMI tokens used for the purchase are discarded to a locked address.

Use of funds:

  • Licensing Acquisition -55%
  • Product Development -22.5%
  • Marketing Expenses-15%
  • Business Operation -5%
  • Legal Expenses -2.5%

Token allocation:

  • ICO (Private & Public Sale) 20% | 150,000,000,000 OMI
  • In App Purchases 40% | 300,000,000,000 OMI
  • Business Development 20% | 150,000,000,000 OMI
  • Team, Advisors, Board Members 20% | 150,000,000,000 OMI (ECOMI Team / Board / Advisors 12 month cliff, ECOMI Founders 24 month cliff, then vested at 25% quarterly)

1 token is equal to 1 satoshi and is only planned to be listed as BTC pairing on exchanges to minimise any potential downside to the token price.

Team

Below is a breakdown of the key team members.

David Yu (Co-Founder & CEO)

  • Founder – Games R Us
  • Founder – Retail Management Group
  • Trustee – Touchable Earth Foundation
  • 2016 Young Entrepreneur of the Year Award – Australia New Zealand Chamber of Commerce Taipei
  • 21 Years Experience in Collectibles and Branding

Alfred Kahn (Head of Global Licensing)

  • Chairman & CEO of CraneKahn LLC
  • Chairman of the Board of Toon Goggles Inc.
  • Chairman & CEO of 4Kids Entertainment Licensing
  • Responsible for the biggest hits in licensing such as Pokemon, Cabbage Patch Kids, Teenage Mutant Ninja Turtles, and Yu-Gi-Oh!
  • Credited for the marketing of brands such as Nintendo, Mario Bros, Donkey Kong, Zelda, James Bond, WWF, WFW, and Xbox to name a few.

MB Technology

  • Co-Founder of the Interoperability Alliance
  • Benn has lead ICO strategy for projects such as Wanchain, Quarkchain, Aion, Icon, GoChain, Origo, Fantom and many more. Benn has brought multiple top-tier projects to the cryptocurrency market and is definitely considered an industry leading advisor.

Daniel Crothers (Co-Founder & COO)

  • Co-Founder ABC Stars
  • Co-Founder Digitalus
  • Co-Founder HERB

Joseph Janik (Co-Founder & CIO)

  • Co-Founder of Movement Food
  • Territory Business Manager of TechnoGym
  • Account Executive of Rivkin

Verdict

The virtual goods market is currently at $80 Billion USD and expected to grow to $100 Billion USD within the next three years. The collectibles industry already generates $200 Billion USD annually, and ECOMI has strategic plans to capitalize on this growing trend in both markets. With this team’s credibility, ECOMI can easily become a major player in this field from their launch.

Risks

  • Only 20% of tokens are available during the ico sale which is considered to be on the low side. However, ico’s with similar token metrics, such as QuarkChain, have performed quite well. -1.5
  • Although they may not have team members as well known as the ECOMI team, there are competitors that have the advantage of already being in the space. -1

Growth Potential

  • Compared to other ICOs with all-star teams, the hard cap is rather low which allows for greater opportunity for growth among initial investors. +1.5
  • The team brings years of expertise and experience in the necessary areas for ECOMI to succeed in what they’ve set out to achieve and is definitely the star of this ico with major credibility and recognition. +3
  • Strategic partnerships are key to helping ico’s succeed. ECOMI has partnered with CraneKahn® which is an international PR and licensing company powered by the visionary Alfred Kahn. Alfred brought to the world iconic brands, licensing programs and caused the viral adoption of major brands such as Pokémon/Pokémon Go, Cabbage Patch Kids, Teenage Mutant Ninja Turtles, Yu-Gi-Oh!, Super Mario Brothers and many more, earning him membership in the Licensing Hall of Fame and KidscreenHall of Fame. ECOMI has also signed, or is at the final deal memo stage or MOU, with many top global brands. +3
  • Real world application is instrumental for the success of any blockchain project. An instore retail program will be introduced to support consumers with retail products being distributed throughout 4,000+ retail channels established through existing relationships. +2

Disposition

With ico’s on the decline and recently shown in a negative light in the media, ECOMI could be exactly what investors are looking for: a project with a stellar and highly respected team, an achievable roadmap, and entering the virtual goods market which is estimated to reach $100B over the next five years. ECOMI receives a 7 out 10 rating.

Investment Details

1 token is equal to 1 satoshi and is only planned to be listed as BTC pairing on exchanges to minimise any potential downside to the token price.

  • Symbol: OMI
  • Token Type: GO20/721
  • Total Circulating Supply: 750,000,000,000 OMI
  • Tokens Available for Sale: 450,000,000,000 OMI
  • Price: 0.00000001 BTC (1 Satoshi)
  • Hardcap: 1,500 BTC
  • Accepted Currencies: BTC

Learn More:
Website:  ECOMI.com
Pitch Deck:  ECOMI Pitch Deck
Telegram:  t.me/ecomi
Medium:  medium.com/ecomi
Twitter:  twitter.com/ecomi_
Facebook:  twitter.com/ecomi_
YouTube:  www.facebook.com/ecomi.ecosystem

Disclosure: Analyst does not own ECOMI tokens. 

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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