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ICO Analysis: FundYourselfNow (FYN)

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Money is a useless idea unless it is helping people. That you have more representation of value than another person is meaningless unless that person has some need your value can fill. The lender and borrower relationship, one can imagine, is precisely the situation which the earliest forms of money were invented for – how else to keep track of who owes who.

Lending in the modern age is a complex and difficult process. Creditworthiness is based on several metrics, and until the dawn of the internet, those metrics could be the end of great business plans. Venture capitalism hadn’t really applied itself notably to technology yet, so people’s options were down to either a bank or friends and family. Around the time that Bitcoin was invented, companies like Kickstarter as well as “micro-lending” platforms came on the scene. These enabled lots of people with small amounts of money to help fund a business.

In the cryptocurrency world, for a long time there was BTCJam and little besides it. Other projects have competed with it over the years, including BitBond and BTCPop, but the projects with the most volume seem to land on BTCJam. Rife with scammers and low returns, BTCJam has long offered room for improvement and competition to thrive. This is the space we find ourselves investigating with the advent of the FundYourselfNow project, which still has almost a month remaining for investment, the space of cryptocurrency-based crowdfunding.

An immediate red flag is raised, right? These people are essentially crowdfunding a crowdfunding platform – is the snake eating its own tail? Could be that we are in a strange time when we find ourselves analyzing a fundraising effort conducted by a prospective fundraising platform, and the frustrating thing about investments is that there is no crystal ball. Nevertheless, there are only so many points we can deduct on the face for a – shall we say – meta concept – in this case, .25 such points. So if that red flag was raised for you, dear reader, then you can continue on knowing that the ceiling on rating for FYN is already 9.75 for similar reasons.

Conglomerating Businesses and Backers

Before we discuss much about the FYN token or its potential viability, we should identify and go over the business model they seek to capitalize on. FYN is, in essence, taking the flea market, farmer’s market, stock market approach – the fully legitimate approach of the moderate rent-seeker. While not the typical rent-seeking approach, we can think of them like Erhlich Bachmann from HBO’s Silicon Valley – he is not necessary for the creation of Pied Piper, but Pied Piper’s odds of coming into existence were increased by virtue of him.

FYN Value Proposition

This is the value proposition of all of the sites we’ve discussed: projects can find investment dollars and small-time investors (or any non-institutional investors, really) get several advantages over navigating the wild world of potential money vehicles. Getting these people together in the same space and ensuring that there are enough commonalities when they get there is a challenge, a problem worth solving, and whoever does it best will essentially be looking at a percentage of several new technologies moving into the future.

Such lucrative opportunities are bound to break away from the closed doors of Sand Hill Road and into the democratized wealth of the wider world, but this will not become the norm before a company has sufficiently amalgamated enough commoner capital to compete with the types of offers and connections that venture capital can offer. Considering this proposition at all is accepting the idea that some of the most valuable technologies of the future will be funded outside of traditional finance.

The FYN Token

The FYN token will not be required to utilize investment opportunities listed on FundYourselfNow.com, however all projects listed on FundYourselfNow.com will be required to accept a portion of their investment in FYN tokens. The suggested rate for this is 20%. This could give the token some freewheel advantage if it happens to be retaining a higher value than the other tokens being listed, especially if the token is somehow more attractive. Tokens will be redeemable through a buy-back program that FundYourselfNow intends to offer once every six months, and tokens that are bought back in this fashion are permanently destroyed from the blockchain.

The FYN team incorrectly assess the way cryptocurrencies work in the following passage from their whitepaper:

A gradual reduction in token supply will eventually increase on the token value, benefiting all token holders. In addition, the top 100 token holders will be part of the FYN VIP exclusive club. VIP club members have exclusive access to buy into upcoming promising projects featured on the FYN platform (normally at a discount), during their pre-sales period. If the pre-sale quota is not filled up, we will open it to all FYN token holders. We plan to make pre-salesparticipation exclusively using FYN tokens only.

This assessment leaves out a fundamental, all-important truth about ICOs: the value of nothing is precisely nothing, $0.00. So if the FundYourselfNow project retains no value, then neither should any token purchased from it. It’s crazy to think, but this is a real possibility with almost every ICO out there now. To leave this out of the equation and not even add a caveat note about it is almost deceptive.

They further expand on the idea of reducing supply by stating that FYN tokens which are committed to a project are “locked up.” While this can be made the case through programming, this situation also makes FYN tokens less desirable to project creators, if it’s true that they are unable to derive any value from them for at least twelve months. It’s like funding a business and saying, “And here are some gold bars you can sell, nevermind the crazy valuations of gold at the moment, we’re going to count this as a full investment but you won’t be able to realize anything from it for at least a year.” That’s not going to work for the project leaders.

Of course, the simple logic of this underlines the child-like nature of the project as a whole: there are a lot of brilliant ideas, but not a lot of thought given to the overall execution of them. While it’s true that in technology, if you throw enough money at something it is bound to produce something, it is also true that bad seeds almost never yield good fruit. There are serious problems with the FundYourselfNow system from the start, and little is done to address them. In essence, the platform can take off quite divorced from the value of the token – and the token itself is what we’re here to analyze, not the prospects of the business.

As to the prospects of the business, they’re probably okay, but we’ll get to that in a moment.

The value proposition of the FYN token is the following:

  • A company (which must exist at redemption time) will redeem your tokens every six months.
  • You get bonus tokens now in the ICO, which later can amount to extra investing leverage.
  • Potentially other advantages for token holders later.

But overall, you’d still be competing with other investors in the marketplace. Buying the token doesn’t buy you special access to anything much, except potential profits. Now we have to talk about those potential profits, because as earlier mentioned, this is a viable market/industry. But the question we must assess at this point is whether FundYourselfNow is part of the future for it, or if it will just pave the way for the actual unicorns in the space.

Also, importantly, 28% of tokens will never see the market. 8% go into a mysterious (undefined anywhere) “reserve fund” while 20% go to the FYN team themselves. In cases where tokens are being sold publicly, it’s important to note that such withholdings are subject to the market – they should immediately be zeroed out and removed from the market capitalization of the coin. Thus whatever valuation they come out with, at least 20% is potentially as good as gone. There’s a lot of moral hazard in selling tokens and giving some to yourself for free at the same time. Perhaps a more equitable situation would be where these firms were forced to re-purchase their own tokens with the proceeds until they had the specified % rate. Plus, another 12% go to the advisory board, past, present, and future, with little oversight for token holders on how that gets doled out.

Note that 12.5 million tokens will be generated in total, meaning a sum of more than 2 million tokens outstanding, unknown – not much different than fiat currency, in this regard.

Can FYN Do It Best?

FundYourselfNow’s business plan is to develop a top-notch platform for creators and investors to meet each other, with the added benefit of its own in-house token. They intend to re-invest at least 30% of profits per year, with 70% being available for the buyback program.

70% of the profits made from FYN platform will be distributed to investors, via a token buyback program. The tokens bought back will be burned to reduce the overall FYN token supply. This program will be executed every 6 months. The remaining 30% profits will be re-invested to grow the company.

All of the proceeds from the token sale will go to getting the company going, and little detailed information is provided anywhere regarding this.

The FYN Team

Headed up by Jack Ser, recipient of the 2015 Management Consultant of the Year Award by the Singapore Business Advisor & Consultant Council. Ser currently operates his own consultancy, Pinnacle One, a sort of all-in-one shop for the web and finance.

Ser’s previous cryptocurrency projects are zilch, however core Ethereum developer Zheng Junyi “is a crypto-enthusiast who started mining bitcoins in the early CPU days and ETH since genesis.” Junyi “will be responsible for coding secure smart contracts capablity and backend optimizations for the platform.” Zheng Junyi is not to be confused with Junyi Zhang [https://github.com/Junyiz], who has a well-established Github profile, nor the Junyi Zheng who went to UC Berkeley. Instead, if you’re researching Zheng Junyi, he is the developer whose only development shows up under FundYourselfNow. Unfortunately, development chops are of major importance, especially on the money part, and it would be better if this developer’s work were more accessible.

On the advisory board, they do list Dana Coe, who runs Bitlox, a hardware Bitcoin wallet that is a competitor of Trezor. His experience might offer insight on competing in a market already heavily dominated by a competitor.

The Verdict

It is good to see new efforts in the space of cryptocurrency crowdfunding. When legitimately done, these products offer investment opportunities that would never, ever be available to regionally middle class and wealthy people around the world who are, in fact, globally poor. This means that for the first time in history these people have real, easy access to the global economy of investing – they have legitimate tools and means to improve their own station, with very little or even nothing to start with. When there is no minimum ticket price, the whole of the commons can show up – and hopefully everyone will be the better for it. In short, this type of platform is exactly the kind of thing we want to see cryptocurrency projects doing.

Additionally, FYN has the benefit of being regionally well-positioned in Asia, having a mostly native team and a competently multi-lingual communications team.

On these points, we credit 3.5 each.

Risk

  • Ideas not fully developed – hazard of FYN undesirability. (-1.5)
  • FYN token not fully necessary for the platform to thrive/unclear as to why token need exist. (-2.0)
  • Market is abuzz – other outfits with the same purpose will be covered here in the near future. Crowded markets can mean less for a given vendor. (-0.5)

Growth Potential

Nevertheless, the token will probably do okay once exchanges decide to list it. If the VIP access feature (top 100 token holders) holds any value, people will periodically want to reach this status. The reduction in supply will equate to a value increase, if the tokens are being traded. At an initial price of just under .01 Eth (~$3) each, this would mean significant growth. Yet, we struggle to find this being a legitimate opening price for the unpredictable future value of this token. We must then sadly deduct another 0.25 for serious uncertainty.

The Outcome

7 – 1.5 – 1.0 – 0.5 – 0.25 = 3.75 out of 10.0 on the safety scale.

Investment Details

The FundYourselfNow ICO funding round runs until July 31st. Beginning on the 4th, the rate of FYN tokens per Ether will drop from 120 to 100. At time of writing, their website claims that around 5000 Eth have been collected. Participation requires registration [https://www.fundyourselfnow.com/ico/public/login] at their website, which is unusual since the Ethereum platform basically makes such a registration unnecessary. By doing so, you agree to some terms. Here are notable ones:

3.2 From time to time Fund Yourself Now may hold a poll to elicit the opinion of Token holders. Poll results will be taken into account in decisions made concerning the financial or technical direction or implementation of FYN Platform. However, the outcome of a poll will not, in any circumstances, be binding on Fund Yourself Now or enforceable by Token holders. Only valid Token holders are authorised to participate in a poll.

 

3.5 There are no guarantees that FYN Platform will be delivered within any particular timeframe, or at all (see clause 5).

 

3.6 By donating to Fund Yourself Now, and to the extent permitted by applicable law, you agree to not hold any Fund Yourself Now liable for any Loss arising out of, or in any way connected to, your failure to properly secure and keep private your email address and any password used in connection with Crowdfunding.

 

5.2 Fund Yourself Now reserves the right to change the Commencement Time or the Closing Time in its absolute discretion. Any such changes will be published on the Website.

 

TL;DR – Current token cost: .083 Eth each. Cost after 4/7/17: .1 Eth each. End of sale: 12.5 mln tokens sold or July 31st, subject to change at behest of FYN. Participation: register at website and follow directions.

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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5 stars on average, based on 2 rated postsP. H. Madore has covered the cryptocurrency beat over the course of hundreds of articles for Hacked's sister site, CryptoCoinsNews, as well as some of her competitors. He is a major contributing developer to the Woodcoin project, and has made technical contributions on a number of other cryptocurrency projects. In spare time, he recently began a more personalized, weekly newsletter at http://ico.phm.link




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2 Comments

2 Comments

  1. godtrader

    July 4, 2017 at 1:20 am

    I was wondering what is the purpose of analyzing bad/unattractive ICO? I would rather read analysis of interesting projects which are on fire now. You have missed EOS ICO, which is booming as I write. Tezos ICO is currently running as well and already collected a lot of funds, has good team etc. I have paid money in hope to read about INTERESTING investment opportunites in this blog, not the bad ones.

  2. godtrader

    July 4, 2017 at 1:23 am

    My second question is why comments are moderated on a paid subscription? In my opinion its totally wrong. Be prepared for feedback whether you like it or not.

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ICO

ICO Analysis: Bounty Angels

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ICO bounty programs are popular among investors and blockchain startups alike. They give opportunistic cryptocurrency investors a way to earn tokens for promoting a project and they give companies a way to market their project.

Bounty Angels is looking to automate the process, matching who the company describes as “blockchain entrepreneurs,” or bounty hunters, with ICO founders. Bounty programs are marketing campaigns launched by companies in which bounty hunters can earn tokens for touting the upcoming ICO. It solves a problem for a new startup that might not have the marketing muscle or the capital to gain the global exposure they need for a successful launch.

Bounty hunters, however, face many hurdles in identifying relevant projects to promote, in some cases being overlooked for a lack of a track record, for instance. ICO founders also face challenges, including engaging with bounty hunters who break the rules.

Bounty Angels is offering a solution, one that automates and streamlines the bounty process for both sides. Bounty hunters generate a performance history and that data is then shared with ICO founders on the Bounty Angels platform. For the bounty hunters, they won’t have to worry about engaging with a worthless or scam project, as Bounty Angels vets all of the ICOs that are on its platform. There is an alpha version of the platform available today, according to the company’s blog, though when we clicked on the link it appeared to be down for maintenance.

Artificial intelligence appears to be part of the long-term plan, as evidenced by the white paper that states: “Automated technologies when coupled with the expertise of professionals and, going forward, artificial intelligence, will allow [us] to create an all-new image of Bounty programs.” The team admits it is an ambitious goal, one that involves “launching our service around the world … to attract the highest possible number of customers and Bounty Hunters.”

The project is powered by the BANG token, which bounty hunters have the option to accept as a reward for their marketing efforts. Bounty hunters can also choose to accept free tokens from the project they’re promoting.

Token

The Bounty Angels  BANG token will be issued in the ICO. BANG is designed to fuel the project’s ecosystem including payment to bounty hunters and can also be exchanged among token holders. The company maintains that the BANG token cannot be deemed a security or any other financial instrument.

 

Source: Bounty Angels

There is also a bonus program.

Source: Bounty Angels White Paper

Team

Anatoly Krasovsky is at the helm of Bounty Angels. He’s also a project manager at NEWSBTC, according to his LinkedIn profile. The company’s CTO, Andrew Tar, is also a journalist.

Verdict

The Bounty Angels ICO has the potential to catch on like wildfire among ICO investors. It’s an engine to connect bounty hunters with the best blockchain projects that are looking for marketing. While the project displays tremendous promise, it doesn’t appear to have advanced enough from the concept stage, as evidenced by its dependence on the ICO funds to both develop the platform and hire developer talent. Once these pillars are in place, there could be no stopping Bounty Angels.

Risks

  • The company is still hiring developer talent for the creation of  “complex smart content that will
    make it possible to automate distributions.” The fact that the developer talent is not yet in-house exacerbates the risk for investors as it could lead to delays in the building out of the ecosystem until the team is a well-oiled machine. Not to mention if the fundraising efforts fall short and prevent them from hiring top talent. (-3)
  • There doesn’t appear to be a mention of mobile anywhere in the white paper. While this doesn’t necessarily mean that an iOS and Android app isn’t on the horizon, it may be far down the roadmap if it didn’t warrant a mention. (-1)
  • Bounty Angels is not the only rodeo. They allude to a competing project, Bounty0x. (-1)

Growth Opportunity

  • Research suggests that there’s a direct link between bounty programs and ICO tallies. The larger the bounty campaign, the higher the amount that the ICO ultimately raises, suggesting that the engagement of bounty hunters pays off. According to Element Group, which performed the research, “[A] $1 increase in bounty campaign volume predicts between an $8 and $15 increase in the final amount raised.” This should incentivize ICO founders to participate in bounty programs and potentially join the Bounty Angels platform. (+3)
  • Artificial intelligence is a key technology that could propel the platform beyond the competition, especially if said competition isn’t automating their process yet. While it’s unclear when AI would be implemented, it does appear to be on the roadmap. (+3)
  • According to the website, Bounty Angels has received a good amount of media attention, which may have something to do with the fact that its management team doubles as journalists. This is a plus for the project and its upcoming ICO. Also, if the adage ‘you get what you pay for is true,’ that’s a plus for Bounty Angels as it’s a paid platform. (+2.5)
  • What the company describes as “intensive work” on the project hasn’t even begun yet. While we could view this as a risk or reward, we decided to count it as a plus, as it explains why so much has yet to be done. It also reminds us that Bounty Angels has yet to reach its full potential of where the project can be when it is in full-throttle. The beta version is scheduled for January 2019.  (+3)

Disposition

We come to a score of 6.5 for the Bounty Angels ICO. Keep in mind we will plan to revisit this project once it kicks into high gear.

Investment Details

  • Token Type: ERC20
  • Platform: Ethereum
  • Symbol: BANG
  • Pre-ICO: Sept. 3, 2018 – Oct. 3, 2018
  • Public Crowdsale: November – December 2018
  • Token Supply: 20 million
  • Tokens Available for Sale: 14 million across the pre-ICO and ICO
  • Soft Cap: Pre-ICO = $100,000
  • Hard Cap: Pre-ICO = $500,000; ICO = $3.5 million
  • Token Price: to be announced
  • Payment Methods: to be announced

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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4.6 stars on average, based on 23 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. She owns some BTC and ETH.




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ICO

ICO Analysis: Zeex

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Zeex is offering users the ability to exclusively use crypto when shopping at various outlets. Users will be able to directly purchase whatever items thy want from their brands of choice without having to convert their crypto into fiat.

The following video shows Zeex in action outside of the Consensus conference at a Starbucks, where the CMO Apan Amos Damri uses their beta version to buy a cup of coffee using Ethereum. The transaction was successful, but the verdict is still out on whether they were able to spell his name correctly on the cup.

The ZIX token is what the whitepaper calls a “core element” of the solution, which does three things. It covers a user’s transactional risk until the trade is complete, it determines who can exercise what kinds of transactions when based on advertised discount rates and supplies, and it’s also a login method to use the Zeex platform.

To the surprise of probably very few people reading this, Zeex is a spinoff sister company of a European marketplace for buying and selling gift cards called Zeek Group. For Zeex, the road is already paved in terms of getting access to close relationships with name-brand retailers and a multi-million dollar inventory of gift cards.

Zeek has been able to raise venture capital from firms such as Blumberg Capital, Qualcomm Ventures, Scale Up Venture Capital and more.

The Zeex business model hinges on a few potential incomes streams:

  • Providing working capital to gift card suppliers, easing the transition for many businesses hesitant to get into the crypto field.
  • Financial services to support suppliers financially.
  • Marketing services to help suppliers speak the lingo of the cryptocurrency world. The whitepaper states that “Zeex has already mastered these industry-specific marketing channels and has been engaged in community building for a significant period, its in-house marketing team is already equipped to help suppliers build their own communities and maximize their value per transaction.”
  • Platform adoption and market penetration to help suppliers integrate crypto into their business makeup
  • Operations support to help suppliers and users better understand and utilize the platform.
  • Provide business intelligence data to retailers on cryptocurrency users.

Token

 

Risks

  • Not an entirely frictionless experience: This isn’t a problem unique to just Zeex, but is present throughout most digital payment solutions. Unless you can tap your phone on a receiver like Apple Pay, you’ll be behind the most “frictionless” payment system out there. However, this is miles ahead of crypto transactions. -1
  • Not really sold on the need for an ICO (for the investor’s sake): Although the Zeex platform sounds pretty useful, investor upside seems fairly limited (but then again, who can accurately predict investor upside in this space circa 2017/2018.  -2

Growth Potential

  • It works! Few projects raising money via ICO can boast a working beta, and Zeex already does and has a use case that many cryptocurrency users would likely want. +2
  • Yay user adoption! One of the largest detractors of the transactional user of cryptocurrencies is that it’s incredibly complicated and tedious. If you have 8+ steps before you can pay for a coffee, chances are you’re going to opt for that .25 second swipe of a Visa in your pocket. +2
  • Finally, a use for gift cards. When’s the last time you got a gift card that wasn’t from Amazon that you actually fully used? Too many people have gift cards just sitting around either untouched or with a fractional amount on them. There is a whole secondary market for discounted gift cards, and there’s a huge value in using these gift cards in a business model such as Zeex’s. The team essentially has a pool of gift cards going for a discounted price (usually around the 5 to 15% range), and are able to provide a solution to a community in dire need of one. +1
  • Zeek partnership. Having a sister company that already has the relationships with retailers necessary puts Zeex way ahead of the game. It’s not your typical run of the mill ICO that aims to build everything from ground zero for a lack of strategic partnerships, but more so a use case to be implemented with an already successful company. +3
  • Limited downside: Zeex claims that it will safeguard token value by using proceeds of the often sale to guarantee the supply of gift cards at the highest possible discount from a wide range of brands. If this means what I think it means, that worst case scenario you can use Zeex tickets to exchange them for gift cards at any time, and if there isn’t a stark depreciation of purchasing power for Zeex tokens, this is a cool perk few other ICOs can offer. However, if I’m wrong, write this point off as whitepaper tomfoolery. +2

Unknown

  1. This sounds like either a huge tax headache or a huge tax advantage. If the current American tax law stands that the exchange of crypto for fiat (or gift card) constitutes a taxable event, the Zeex team would have to figure out a way to help users report their taxes on these events. If this is the case, a -2 would be added to my score. However, if there is some international gift card loophole where users can trade any crypto for gift cards and there not be a taxable event, that would be huge for the team (although unlikely, because Uncle Sam is gonna get what he thinks is his). If this is the case, a +5 added to my score.

Disposition

We arrive at a +7/10 for Zeex. It’s got a cool use case, already works (in beta), and a relatively strong partnership in place. If the appreciation of the token’s value is correlated with the success of the app, investors would likely be pretty happy. However, if it’s just another token limited to its own ecosystem, I don’t see much use in investing into it unless you plan on using the Zeex app.

Investment Details

  • Type: ERC20 – Utility
  • Symbol: ZIX
  • Platform: Ethereum
  • Crowdsale: TBA
  • Minimum Investment: 0.1 ETH
  • Price:1 ETH = 5,000 ZIX
  • Hard Cap: $50 million U.S.
  • Payments Accepted: ETH
  • Barred from Participating: Israel, U.S., China, Lebanon, Iran.

Sign up for the Zeex email list to find the news for the public crowdsale on the Zeex website and check out their whitepaper.

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: Tolar HashNET

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No one can deny that blockchain technology is revolutionizing many industries across the globe. However, blockchain still has shortcomings such as slow transaction times, scalability issues and high environmental cost. Transaction times can take up to several hours versus traditional payments like credit cards or bank cards only take mere seconds. For mass adoption to take place, there has to be faster transaction times along with the ability to scale and maintain these times. And there are those who are concerned with the effects on the environment from all of the mining globally. The founders of Tolar HashNet decided to create solutions to solve these issues while maintaining all of the advantages of blockchain technology.

Tolar was inspired by hashgraph methodology and designed a new and efficient asynchronous distributed consensus protocol on a directed acyclic network structure. Tolar HashNet uses redundancy reduced gossip and virtual voting protocols that provide a fast, fair, and Byzantine fault tolerant consensus algorithm. HashNet belongs to a class of gossip-based protocols instead of structured-based group communication algorithms giving it advantages such as being able to handle larger group sizes, high user churns, sporadic sources, etc.

Tolar HashNet is fast, secure and scalable – solving the major shortcomings while keeping all of the positive characteristics of blockchain technology, and has an open-sourced cryptocurrency called Tolar. HashNet has increased throughput to more than 200,000 transactions per second and has a working demo with 150,000 tps on multiple nodes. HashNet uses Proof of Stake with masternodes eliminating the need for mining which greatly reduces energy consumption making it more cost-efficient and environmentally friendly. The founder’s vision is to be the global leader in Distributed Ledger Technology and become the preferred choice of individuals, companies, and governments worldwide.

Token

The Tolar (TOL) token is an open source, community-governed cryptocurrency. It will initially be deployed as an ERC20 token that will later be converted to mainnet tokens when the mainnet is released. The price of TOL is 1 ETH = 5,442.59 TOL for the public ICO. A total of 1 billion tokens will be generated with a hard cap of 57,000 ETH.

Token Allocation:

  • 35%  Token Sales
  • 32%  Tolar Development Fund
  • 8%   Proof of Stake Network Start Nodes
  • 20%  Founders
  • 2.5% Developers
  • 2.5% Advisors

There is no lock on main tokens, but a THREE-month lockup for bonus tokens and a 24-month lockup for team tokens. The max bonus was 20%.

Team

The founders have 30 years of business experience and are definitely not new to the blockchain technology space having developed the world’s first Blockchain MBA Program and Certified Blockchain Developer Program at COTRUGLI Business School, a leading business school in SE Europe. Twenty-four team members and 13 advisors are listed on their website including:

Drazen Kapusta – Principal/Founder at Tolar

  • 30 years of business experience as well as a major blockchain startup investor
  • Principal of COTRUGLI Business School
  • President of Blockchain Adria, the largest blockchain conference and association in the Adria region
  • Member of Enterprise Ethereum Alliance
  • President of the COTRUGLI Fund – organizes and leads major humanitarian projects
  • Founder of the COTRUGLI Business Museum

Zoran Dordevic – CEO at Tolar

  • Managing partner at COTRUGLI Business School

Josip Maricevic – Co-Founder and CTO at Tolar

  • Previous Blockchain core developer for Blocknet
  • Previous iOS Developer for Qnective AG

Terence Tse, Ph.D. – Foundation Member at Tolar

  • Associate Professor of Finance at ESCP Europe Business School
  • AI Company Founder & Entrepreneur
  • Keynote Speaker
  • Author

Lester Lim – Advisor

  • ICO Marketing & Token Strategy Advisor for Cardstack, HybridBlock, Dock.io, Ink Protocol, CoinFi and Banca

Verdict

Tolar HashNet is positioning itself to compete with the likes of Etherium and Neo as a platform for building ICOs and Hyperledger to offer superior DLT solutions for governments, towns, local communities and enterprises. With several VC investors on board and multiple crypto influencers recently promoting/reviewing Tolar, this ICO is definitely worth looking into.

Risks

  • Competition is fierce in this space with major players such as Ethereum, Neo, Icon, etc. -1.5
  • Partnerships will be crucial to the success of the project and none have been announced as of yet. -1

Growth Potential

  • While some ICO investors look to flip their investment immediately and move on the to next one, Tolar’s proof of stake with masternodes is attractive to long-term investors. +2
  • The Ethereum Virtual Machine (EVM) will be deployed on top of the network which will make for a fast and secure decentralized applications platform. +2.25
  • An ICO with an MVP is certainly more desirable than an ICO with nothing but a website and an idea. The Tolar Prototype reached 150,000 TPS on multiple nodes. You can view the video here+2.75
  • Tolar won Ian Balina’s ICO pitch competition during his Crypto World Tour in Budapest. This will obviously create hype and draw more attention to the project which typically translates to positive outcomes in the current ico market. Many Tolar ICO reviews have also been recently published. +3

Disposition

With a fairly large team, all-star advisors, an MVP, available masternodes, and a growing social media presence, Tolar is another blockchain project that has an excellent chance of doing well this year. Tolar receives a 7.5 out of 10 rating.

Investment Details

  • Symbol: TOL
  • Platform: Ethereum
  • Hard Cap: 57,000 ETH
  • Total Supply: 1,000,000,000 TOL
  • Private Sale Price: 1 ETH = 6,531.08 TOL
  • Pre-sale Price: 1 ETH = 5,986.84 TOL (minimum 10 ETH)
  • Public ICO Price: 1 ETH = 5,442.59 TOL
  • Public Sale: Scheduled for August
  • Jurisdictions barred from participation: USA, China

For more information regarding Tolar:

Website: https://www.tolar.io/
Telegram: https://t.me/TolarHashNET
Twitter: https://twitter.com/TolarHashNET
Facebook: https://www.facebook.com/TolarHashNET/
YouTube: https://www.youtube.com/channel/UCL8ksEpe6um71pcdPi6wpXQ
Medium: https://medium.com/@TolarHashNET

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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4.6 stars on average, based on 46 rated postsKent Hamilton - ICO Analyst on Hacked and Founder of CryptoDayTrader.io - ICO Insider Info




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