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ICO Analysis: Kik’s New Token Kin

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To date, we’ve raised $120.5M from Foundation Capital, RRE Ventures, Spark Capital, SV Angel, Tencent (maker of WeChat), Union Square Ventures, and Valiant Capital Partners.

Translation:

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We have acquired and mostly burnt off about an eighth of a billion dollars. We do not currently have a relevant revenue model, and our prospects for future funding rounds are not getting brighter as a result.

Then, in the Whitepaper, we get their excuse:

As a company, Kik has been searching for a sustainable monetization model that does not compromise user experience or privacy.

A Niche Token (Kin) Without A Promising Niche?

Kin’s Team

Great idea. Maybe it will make the platform huge. The trouble is, for this vision to work, the platform has to become huge. If a split minority of chat users are on Kik as opposed to the myriad of other options, then the actual utility and value of a Kin token are not going to be exponential, it’s going to have a cliff at best.

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Rather than opt for mass display advertising or the selling of consumer data, Kik has decided to adopt a decentralized organizational model. Its goal is to encourage the development of a digital services ecosystem that is fair and open. Kik prefers to be a participant rather than a landlord in this user-first economy.

Translation:

We don’t want you to see us as rent-seekers.

Fine. So you want to create a system and act within it. Why then should it be a Kik system? In terms of cryptocurrency plays, a more broad-based strategy is going to have a higher chance of flourishing. You’ve already admitted so far in this Whitepaper that the base concept of your “currency” is to put your Kik Points system on the Ethereum blockchain. You can do that without a token sale. You can just issue tokens to Points-holders, and convert the system.

By creating a Kik-only token, you run the risk of an industry-wide token launching which serves all the rest. Therefore, from a consumer point of view, if (when) such a token were launched, it would seem more valuable from the very first moment, because it would not “lock them in” to a specific platform, although in this case by “lock in” we mean “require significant effort to exit.”

Kik seems to understand this, and they address it a few paragraphs later. They insist that creating an ecosystem of valuable goods and services is paramount, and then go on to say that Kin is intended as a general purpose cryptocurrency. Again, if this is the case, why tie it to Kik at all? Why not simply have Kik spearhead its adoption, but separate everything else, hoping that a consortium of industry peers join in? Would anyone you know prefer a gift card to a specific store or a Gift Debit Card that can be used at any store? Other companies will now have to overcome the “not-invented-here” syndrome, if any of them decide to integrate Kin at all. More likely, they’ll create their own alternatives, meanwhile, someone else will create a master token for all of them. Kik could have done everyone the courtesy of getting its peers on board. Tencent invested in them, despite offering a similar, competing project. Tencent’s involvement would already make this token more attractive if they were involved in this part of it.

In character, Kin is a pure cryptocurrency of fixed supply. It is fractionally divisible and long-term non-inflationary. However […] only a small portion of the Kin supply will become liquid in the near future, as most of the Kin supply is reserved for the Kin Rewards Engine. […] Like other cryptocurrencies, units of Kin are fungible and transferable, and they will be expected to trade on cryptocurrency exchanges.

Fine. Great. Newcomer, please understand: this does not mean a thing! Kin gets a full 4 points guaranteed based on Kik’s backing in terms of likelihood of trader profit, but this backing is also its biggest drawback. Further, the method of distribution is wonky. Let’s get into that now.

Kin Distribution – “Rewards Engine”?

As shown above, “most of the Kin supply is reserved for the Kin Rewards Engine.” That makes it requisite to understand what the heck the KRE is.

The goal of the Rewards Engine is to create incentives for digital services and applications that create vibrant services within the Kin Ecosystem. It will accomplish this by periodically unlocking a specific amount of Kin and distributing it among ecosystem partners, favoring digital services in which the Kin cryptocurrency is highly utilized.

So, you’re going to have a board of people (the Kin foundation) who get to decide where the funds are allocated, and allocation will focus on “digital services in which the Kin cryptocurrency is highly utilized.”

We can see what they are going for here, but the trouble is that this method still lacks significant incentive for the rest of their industry to get on board with Kin. Instead, it will propel more disparate services and services that are Kin-specific. The walled garden only gets higher walls with this model. The “open governance” terminology used here could be seen as a ruse – this is something akin (pun intended) to the iTunes model.

One of the most compelling features of Kik Points was that users were not required to purchase them. […] Instead, millions of mainstreamers were able to earn Kik Points simply by performing valuable actions. As Kik expands its economy to include cryptocurrency that holds real value both inside and outside of the chat application, the economic possibilities for users are vastly enhanced. This makes it possible to transform attention, curation, and creation into real-world value simply by having a smartphone.

Again, you’re not doing anything to create a real promise of “economic possibilities.” You are raising money from the crypto-economy, and you are creating a tradeable asset that could generate dividends for Kik users, but you have to trust that such services will actually arise. That people will actually trade Kin tokens. That a competitor who is universal in nature will not simply remove the brand-specific parts of Kin and usurp it. You have to trust all of these things to accept that there will be an expanding Kik-based economy. Facebook would have a better shot at it, as would Google or Tencent.

The Kik Saving Grace

Kik wants a warm and fuzzy economy where users can come in and provide value in exchange for Kin tokens. They want initial investors to underwrite this. And, for whatever reason, it will probably work. Beginning at the intangibility of cryptocurrency, everything in this market is topsy-turvy. There is no reason to suspect that Kik will fully fail, at least not in the same way that some ICOs do. The token’s chart will not be a vertical line, but a short-term gain can probably be taken before later price rises, as the token gets added to exchanges.

In China, many daily goods and services are paid with mobile technologies, and one of the biggest ways of doing this is through WePay. Given its corporate nature and industry interest, Kik could certainly make this happen in the US with its Kin offering. One can imagine checking out at a Millenial-specific shopping outlet like PacSun for example using kins on their smartphone. This real world utility will always lend value to a given token.

Of course, Kik doesn’t note such a vision in its whitepaper. Their vision is all digitized, meaning we’re likely to get what we’re paying for here: a weak answer to a big opportunity.

Nevertheless, we need to be objective. Just because the author thinks this is an undercooked, badly executed idea, does not mean that those who are executing it are going to fail. The winds of the market will likely carry this one.

Kin Distribution and Fundamentals

In order to finance the Kin roadmap, Kik will conduct a token distribution event that will offer for sale one trillion units out of a 10 trillion unit total supply of Kin. The proceeds of the token distribution event will be used to fund Kik operations and to deploy the Kin Foundation.

What did you just say?

Kik is openly admitting here that they are not solvent, despite raising many millions of dollars! Here is the size of their team:

Kik has not yet undergone an initial public offering, so the details of their finances are unavailable. What we do know is simple math. Less than 100 people, more than $100 million, less than ten years. Something is not right here, but that’s beside the point. The point is that Kik is dipping into the honey pot here and quite flagrantly. Companies must provide value to the economy or fade away. What we see here is a company which normally gets its free money from those who have large supplies of it, attempting to do the same from those who have smaller supplies of it.

1 trillion coins enter the economy, and these coins can be traded openly in exchanges. Whatever value they hold on such exchanges will be tempered by a 90% plus-minus based on the murky, unavailable supply. The open governance model is meant to answer these concerns, but it really doesn’t. Let’s see what we have in terms of reassurances:

As of the conclusion of the sale, the distributed Kin will constitute the entirety of the available liquid supply. Another three trillion Kin will be preallocated to Kik as the founding member of the Kin Foundation and subject to a long-term vesting schedule. In exchange, Kik will provide startup resources, technology, and a covenant to integrate with the Kin cryptocurrency and brand.

Again, none of this matters. It all contributes to the same problem we’ve identified: the entire concept relies on Kik encompassing a huge swath of communication preferences, much larger than it does today, in order to not be dwarfed (by virtue of network) by something superior.

Using Hype Bubbles to Our Advantage

So it’s clear by now the author is not a big fan of this idea. That doesn’t mean we can’t make money from it. Truth is, if Google or anyone else were doing the same thing, we’d still see the same problems, but the idea of user attrition would be lessened since virtually everyone already has a Google and Facebook account.

Kik is dreaming big and that’s great for them, but investors need to take caution in calling this a long-term hold. Hype bubbles are carried purely on the steam of those who stand to gain from them, so after a time, that steam will dissipate, and downward pressure will latch onto the token like an octopus. As such, if you’re going to go in on Kin tokens, get out while they’re still actually liquid.

The Verdict

This rating is going to confuse some people, so let’s clarify why it’s so high. As stated earlier, although the rating system here at Hacked is still in development, we generally lend some free points if big outfits are behind something. Their potential for failure is lessened by virtue of experience and rescue capital, and being known entities, they have more on the line than those not even in business yet. As such, Kin gains 4 base points for being backed by Kik.

Being the first of the chat apps to achieve this in a pure cryptocurrency way earns it 2 novelty points. A quarter-point is deducted from this for the ease with which another platform could precisely copy the entirety of their platform.

Kin gets another 1.5 points for hype value. The odds of being able to actually achieve ROI if you are cognizant and attentive are significantly higher than other ICOs as a result of the widespread hype – panic selling is done with greater caution when so many good, promising things are said about a token.

The author allows a full point for his own instinct and lends .25 from this reserve, out of the belief that those who truly want to will manage to take profit from this investment.

4 + 1.75 + 1.5 + 0.25 = 7.5.

Investment Details

Kik has decided to be mysterious about the actual launch of the token creation event. They have a mailing list, and that’s about all the information that is available:

A supply of 10 trillion dictates the on-boarding cost will probably be low, but, again, there’s little to no details on that. We’ll have to update you on that. As the community manager says above, if you want more information at investment time, you’ll have to subscribe.

Featured image from company presentation.

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. cryptoverde

    June 28, 2017 at 8:21 pm

    appreciate the review

  2. virtualevil

    September 2, 2017 at 3:44 pm

    THIS, is the value I get from being a Platinum member. Just as I was losing faith I come across this excellent review.

    Thank you for analysing this to the level you have, I must say I was deep-diving into a lot of the hype. A lot of it checks out, but now I think I am of a similar opinion to yours that this is likely a short term gain prospect.

    Can I ask will you be giving some buy/sell recommendations on this if this is indeed an opportunity to profit?

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ICO

ICO Analysis: AIRBLOC

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AIRBLOC is a platform for the analysis and trade of personal data, uniting buyers and companies wishing to obtain information about their customers.

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As a decentralized platform for the exchange of personal data for both people and applications, AIRBLOC is planning to expand the data market to a level where individuals and small applications can participate, which will improve the quality and quantity of data transferred so that all market participants eventually benefit from this exchange.

Users will be able to monetize their own data, while monitoring and controlling transactions. Through the DAuth protocol on AIRBLOC, applications can receive permission from users and sell data on their behalf. In addition, advertisers can easily acquire and access a small amount of data and optimize their marketing campaigns using effective micro-targeting based on a high-quality and diverse set of user data.

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Data Providers are end users, and fully control the use and dissemination of data.

Gatekeepers are a network node; they keep the network from fraudulent activities by checking data and detecting user violations.

Data Collectors are applications that collect data and monetize them on behalf of users. They can collect indirect data using DAuth or collect direct data from users.

Data Refineries analyze data collected from Data Providers and processes them into user-level attributes. The processed data is then added to the user profile so that Data Consumers can filter them according to the specified attributes when creating a new segment.

Data Consumers are advertisers who purchase data for targeted ads using ABL tokens.

The protocol layers are described below:

  • Application Layer: Consists of third-party DApps that use Airbloc, including Airbloc Client, Airbloc DMP, and SDK.
  • API Layer: an interface provided for communication with Airbloc Network and third-party DApps.
  • Service Layer: Airbloc Contract, which includes all the functions of Airbloc Network.
  • Core Layer: This layer is based on the Ethereum platform. It uses the internal subchain network to verify the data and uses the interchain network to link the two block libraries.

The data in the AIRBLOC system go through the seven stages of data processing, involving all five types of stakeholders. User-created data is collected and stored after Gatekeeper checks them. The refinery will refine these data in commercially available Ad data and sell it to consumers.

AIRBLOC has many competitors, including Wibson, Datum, Bitsabout.me, Insights Network, Opiria, Metame and BitClave. However, the whitepaper explains how AIRBLOC differs from these companies.

Token

The total token supply is set at 400 million ABL. The tokens will be mined based on the annual inflation rate of 2.5% with the depreciation rate of -10.9%. The mined tokens will be stored on the AIR rewards pool. Such accumulated rewards will be given to Users and Gatekeepers as rewards. The block reward has a half-life of six years. As a result, more rewards will be given to early stage Network participants.

Nodes need ABL tokens in order to validate the date, and be rewarded in ABL as per usual POS

The token sale metrics are provided below:

In terms of token economics, AIRBLOC offers two types of tokens. One is the AIRBLOC (ABL), and the other is AIRBLOC Reward (AIR). ABL is a transferable ERC20 token and AIR is a non-transferrable token belonging to Users but can later be converted into ABL at a ratio of one-to-one.

While AIR cannot be transferred to others, it could be converted to ABL. However, it is impossible to convert ABL back to AIR.

The ABL token utility is spelled out below:

  • [DATA SOURCE] Data Providers who provide data will be rewarded with ABL tokens.
  • [DATA CLEANSING+VALIDATION] Data Validators are rewarded in ABL tokens for validating and cleansing data (removing unnecessary segments of the data) before the data is registered on-chain.
  • [STORAGE] Data Storage nodes are rewarded in ABL tokens for storing data.
  • [DATA REFINING] Data Refineries analyze data and refine them into insights.
  • [MARKETPLACE] Interactions and transactions on the AIRBLOC Data Marketplace would require the ABL token.

AIR is a reward token for Users that complete productive activities in AIRBLOC, such as:

  • Provide data or contribute to the data reliability mining process.
  • When Gatekeepers maintain AeroNetwork node.
  • Refiners process raw data into valuable data.

Inflation

Actually, I was bothered by the inflation concept, so I dug into inflation and AIR issuance.

inflation will work in two ways:

1) ABL mined by nodes through a POS which requires ABL and is set at 2.5% per annum with 10.9% decrease in yield.
2) Through conversion of AIR, which is also given to user as per their contribution and amount of AIR they have.

To get ABL tokens, you must:

  1. Buy at the exchange
  2. Receive reward from node
  3. Convert from AIR

In this sense, the procedure of AIR issuance is rather important. And for this AIRBLOC introduces a concept of AIR pool.

AIR pool will be a dynamic account, from which rewards will be given as per process described above. What is important is to understand how it is filled in the first place:

  • 10% of total supply of ABL goes to AIR pool to ensure liquidity.
  • It is filled with trading fees, data usage rights fees paid by refineries and penalties for misbehavior.

Thus we see that issue of AIR is an ongoing process. But in order to hinder potential price dumps by AIR holders, conversion of AIR to ABL per hour is limited to 0.1% of AIR generated by the network.

Team

 

Roi Nam is the CEO and co-founder. He also served as CEO of ab180 (parent company) for two years.  He was engaged in web development for 1.5 years, as well as CSO for 1 year.

Wonkyung Lyu is the Dev Team Lead and co-founder. He is also co-founder in ab180.

Hunjae Jung serves as the project’s Back-end Part Lead and co-founder  and was also part of the founding team at ab180. Naeun Kim, Design Team Leader, rounds out the founding team at AIRBLOC.

The broader team is filled with developers and business professionals that are associated with ab180.

The advisory team includes JH Kim, who is also part of the ICON Foundation. He has almost 20 years of experience in the field of security, has experience in developing patented applications, such as the FCI protocol, has the CISA qualification, and is currently the director of Theloop.

Jason Han, who serves General Director of Kakao Blockchain, is also on the advisory team. He has served co-chairman and technical director of FuturePlay Tech VC.

Serial entrepreneur  Sungjae Hwang is also an adviser to the project. He is a partner of Futureplay, the initial high-speed accelerator in South Korea and the CEO of FoundationX. Prior to these companies, he founded several start-ups. He worked as the chief product officer in Fluenty Inc. and AI chatbot startup, which was acquired by Samsung Electronics in 2017.

Louis Jinhwa Kim, who previously served as Director of the Tide Institute Institute of Finance and Delegate of the Republic of Korea to the United Nations Conference on Environment and Development (2012), is also on the team.

Partners include:

  • GS SHOP, a leading online retail platform in Korea.
  • Allbit, a new type of crypto exchange gateway. .
  • FoundationX, one of the growing funds and accelerators of venture capital in Korea.
  • VEAT, which is one of the leading law firms in Korea specializing in startup advisory services.
  • ORANGEFARM, which is focused on incubating promising startups in Korea. ab180, the parent company AIRBLOC, was incubated in ORANGEFARM as early as 2017.
  • SENTIENCE, one of the leading Korean research companies,.
  • Deblock, an accelerator in Korea which is jointly invested by ICON Foundation & Ad4th Insight, a specialized block-chain company.
  • Battle Entertainment, a leading comic platform in Korea, serving more than a million customers.
  • Humanscape, a the leading medical platform for customer relationship management in Korea, which helps hospitals monitor the condition of patients after surgery and provide follow-up services to patients.
  • Rainist, a leading Korean software company which provides recommendations for financial products based on lifestyle patterns.
  • Fysical, the world’s first full-fledged, fully functional, decentralized market for location data.
  • Indorse, a decentralized social network for professionals.

Verdict

A large team with extensive experience in the sector looks solid. The guys were able to attract consultants in areas where there are obvious gaps, as well as partners represented by ICON.

Risks

  • Based on token sale ROI statistic, marketplaces and advertising related projects do not have a good performance in the short term. -1
  • Customer attraction could face challenges. However, to offset this, the platform has developed a proprietary AirBloc Protocol SDK (software development kit) that has already been stress tested by 60 million devices in Korea. The SDK Protocol functions like a layer that can be easily implemented on top of apps, allowing acquisition of customers. -0.5
  • Platform implementation and scaling could face difficulties, as Ethereum is not suitable for this. Therefore, AIRBLOC uses the hybrid-chain architecture that uses Ethereum and ICON. Data validation and the process will be done through Aero Network, which will use ICON. Such a combination seems promising; however, without a working MVP (planned to be in Q3 2018) it is hard to judge on its performance. -1
  • There are ptential regulatory barriers in relation to private data protection laws, although the team looks prepared to handle it. -0.5
  • I do not like the fact that private sale participants get 45%, even though 30% of 45% will be locked for 3 months as their overall part in the token distribution is rather high. -2
  • The project involves a complex inflation model, which involves two tokens. -1

Growth Potential

  • Mother company ab108 is already successful in advertising market analysis in Korea. +2
  • Whitepaper and documentation are pretty good. +1
  • The team is above average with many strong developers. +2
  • A lot of strong partnerships like ICON and GS shop, Coinplug as well as several VCs. +2
  • Token metrics and distribution are in a good range with a hard cap of 20,000 ETH (around $12 million). +2
  • Strong token use case. +1
  • A good growth strategy for user attraction. +1
  • Hype is there (Telegram has 10,000+ members and lots of people are on the whitelist). +2

Disposition

This is definitely a project to look for. The team has all the necessary experience and knowledge for a successful execution. They leverage on their mother company ab108 and numerous partnerships. They have some obstacles in their way, but they have a clear plan how to overcome them. AIRBLOC receives 7 of 10.

Investment Details

  • Type: ERC20 – Utility
  • Symbol: ABL
  • Platform: Hybrid chain structure: Ethereum and ICON
  • Crowdsale: June
  • Minimum Investment: 0.2 ETH
  • Price: 1 ETH = 10,000 ABL
  • Hard Cap: 20,000 ETH
  • Payments Accepted: ETH
  • Restrictions Barred from Participating: USA and China

General details :

Website : https://airbloc.org/#main

Whitepaper : https://docs.google.com/document/d/1JFpgTbp3W76Q45HmefSpLBraZ_XeTHmdtWheYMU0czQ/edit

Telegram : https://t.me/airbloc

Github : https://github.com/airbloc

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 6 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

ICO Analysis: RedPen

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RedPen is a breakthrough social news and storytelling platform powered by blockchain and artificial intelligence. It combines news and public opinion into one experience to showcase what the internet thinks, feels and says about stories. The RedPen platform transforms online communities and information consumption while highlighting author reputation.

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The company aims to build and empower the global, connected community by making the world’s information collectively understood. Like taking a red pen to the internet, RedPen will allow users to view and contribute to the most transparent, informative and contextual rendition of content and news. RedPen allows you to follow your favorite interests and identify who is talking about a given topic. The platform also intends to highlight the various viewpoints, biases, and how the crowd is feeling.

RedPen’s vision for consuming, sharing, following and discussing content can be organized into impact categories:

Time

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  • Provides more complete information, faster
  • Reduces time discovering your favorite content
  • Re-invests time to gain more knowledge about additional topics

Accountability

  • Clearly displays source attribution
  • Stores and captures opinion
  • Ensures transparency and privacy

Decentralized Control

  • Captures crowdsourced viewpoints
  • Processes distributed observations
  • Allows people to discover and learn at their own pace and depth

Context

  • Summarizes essential story elements
  • Provides rich access to less obvious information
  • Presents a broad public opinion
  • Illuminates and embrace biases

Awareness

  • Feeds people’s curiosity and passion for knowledge
  • Visualizes topics you care about, all in one place
  • Provides a more comprehensive understanding
  • Compares and contrasts across diverse sources

The RedPen system aggregates, analyzes and synthesizes diverse information being written and discussed all in one place—called RedPen Stories. Through a simple user experience, RedPen will identify relevant context, summarize public opinion and highlight author perspectives. Additionally, RedPen Stories intends to encourage people to share, connect and engage in meaningful conversations with their friends and personal networks to cultivate community and storytelling. By leveraging artificial intelligence, creative uses of blockchain, and advanced analytics, RedPen provides individuals with more complete information, faster. Through game-changing formats, dynamic content will be delivered with the necessary and appropriate context to maximize understanding and community. This ensures that the full, verifiable life of information is always available for the world to see.

Token

The RedPen token (RPN) is an ERC20 compatible protocol that will be used to acquire a RedPen Membership. Members will then be able to use RPN to purchase products and services on RedPen such as:

  • Request new content sources and authors to be added to RedPen
  • Eliminate ads
  • Renew RedPen Memberships and receive discounts

RedPen Membership includes the premium benefit of access to RedPen Reputations. Additional benefits include product opinion polls, official beta testing, access to early releases of new features, front of the line resume submissions and RPN token badges. RedPen says it is committed to rewarding users, creators, publishers and innovators in the media space. Five percent of RPN tokens will be distributed as incentives to reward socially responsible users, content creators and partners.

The RedPen ICO is following a unique format with three tiers (private pre-sale, Sale 1 and Sale 2). The private pre-sale is scheduled to begin in Q2 2018 followed by Sale 1 scheduled to begin in Q3 2018 with a price of 1 RPN equivalent to $0.82 USD. Sale 2 is scheduled to occur up to two years later.

The token distribution is as follows:

  • 60% Token Sales (Presale 20% / Sale 1 22% / Sale 2 18%)
  • 15% Team
  • 10% Advisers/Partners
  • 10% Company
  • 5%  Rewards

Team

The RedPen team is comprised of innovators, creators, marketers and engineers with deep technical expertise in data science, machine learning, data mining, natural language processing, mobile development, large-scale distributed platforms and emerging blockchain skills. A few members of the executive team are:

  • Ryan Lewis – Chief Creative Officer and Founder at RedPen. World-renowned producer, musician, music video director, entrepreneur. Four-time Grammy award winner.
  • RJ Smith – CEO, CTO, and Founder at RedPen. Former Technical Director for the U.S. Intelligence Community. Former Engineer for Goodyear. Former Computer Specialist at The White House
  • Peter Grossman – Chief Commercial Officer at RedPen. Former President for Arnold Worldwide. Former EVP, Director of Client Service for JWT. Former Board Member and CEO for QWiPS.

RedPen lists a total of eight advisers with a strong background in blockchain, government and intelligence and online publishing.

Verdict

RedPen has the potential to be an indispensable tool for people who want to understand the complete story about the things they care about and join in the conversations around them. In the current ICO market with multiple blockchain projects all vying for the fastest TPS, the concept behind this ICO is a welcome change. Investors looking for potentially profitable projects under the radar should keep an eye on RedPen.

Risks

  • A lockup or vesting period has become the norm for team tokens, which gives investors the assurance of long-term commitment. There currently isn’t a lockup period or vesting schedule listed for the RedPen team. -1.25
  • Many ICO investors look for projects with starting low market caps to increase the opportunity of high ROI. A $45 million fundraising goal is slightly on the high side for current ICOs. -1.75

Growth Potential

  • An ICO with an MVP is ahead of the game and appeals to investors. In 2017 RedPen developed an initial mobile application and software to detect story similarity and summarize language comparison. By Q4 2018, RedPen will release a mobile app focused on crypto and blockchain topics. +3.5
  • Producer Ryan Lewis and singer/rapper Macklemore are deeply involved in the creation of RedPen and are not simply lending their names as an endorsement. However, having famous people involved will definitely be a major marketing bonus that will attract more attention to the project. +3.5
  • There are all-stars on the advisory team in the areas of business, entertainment and blockchain marketing, which could sway investors to come aboard. +3

Disposition

With their unique and practical concept, star power and all-star advisers, RedPen could be one of the sleepers of 2018 with excellent potential. The ICO receives a 7 out of 10 rating.

Investment Details

  • Symbol: RPN
  • Platform: Ethereum
  • Price: 1 RPN = $0.82 USD
  • Total Supply: 250,000,000 RPN
  • Payments Accepted: ETH, BTC, FIAT
  • Barred From Participation: USA, Canada, Cayman Islands, South Korea, China
  • Fundraising Goal: $45,000,000 USD

For more information regarding Redpen:

Website: https://www.meetredpen.com/
Twitter: https://twitter.com/meetredpen

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4.6 stars on average, based on 43 rated postsKent Hamilton - ICO Analyst on Hacked and Founder of CryptoDayTrader.io - ICO Insider Info




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ICO

ICO Analysis: Arxum

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ARXUM is a spinoff from a longtime German company, Arend Prozessautomation GmbH, which has established customer relationships with companies such as Audi, BMW, Volkswagen and Continental.

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ARXUM combines software and hardware development competencies with industrial production experience to attach physical machines to the bockchain world. ARXUM will interconnect manufacturers, suppliers and customers in a blockchain-based network. Data will be transferred between users and machines, enabling customized manufacturing for the same price as mass production. ARXUM enables manufacturers to offer customized products for prices at mass production levels and enables everyone to produce their self-created products.

The company uses Ricardian smart contracts to bind all peers into one production order in which quality standards can be defined and respective contractual partners are bound. All participants of the ARXUM platform save money and time through the direct connection between factories and users.

THE ARXUM CONNECTION BOX (ACB)

The ARXUM Connection Box (ACB) is a device invented by an experienced team of engineers and programmers. It connects the physical world of machines to the blockchain. Through the ACB, machines are connected to smart contracts. The ACB can also receive and send payments and initiate production. That way, less manual labor is needed in the production process. ARXUM uses blockchain technology to automatically send production orders. Enormous amounts of money are saved by replacing manual labor with standardized framework contracts.

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THE ARXUM PRODUCTION NETWORK

When the ARXUM Connection Box is linked to production machines, a blockchain-based network is established. This is the ARXUM Production Network. The machines can interact with one another on the network and production orders can be downloaded straight from the blockchain. The network also works as a marketplace where individuals and businesses can interact and produce goods together.

THE ARXUM PRODUCTION PROTOCOL

The ARXUM Production Protocol is what automates the manufacturing processes. It connects businesses, individuals and production machines with one another through smart contracts. It also delivers end-to-end visibility within everything that happens during the production. This includes things like proof of ownership, proof of existence, location and provenance. These features enable Intelligent Production Facilities. Intelligent machines connected directly to the blockchain can exchange information and control one another. This includes machines with crypto-wallets that can pay other machines for actions, so-called M2M payments.

Three main applications are built upon the ARXUM Production Protocol:

  • Marketplace
  • Production Consortium
  • Mass-Customization

Token

The AX ERC20 token will be used to pay service fees and fund smart contract production orders. While other currencies may be used for transaction payments, users will receive a discount by utilizing AX tokens. The AX token will be used for loyalty fees for manufacturers, an access fees for premium membership functions and as rewards for specific network activities.

One unit of AX is worth $0.25 and the market cap is $18.75 million. Eighty percent of the 125 million AX tokens will be available for purchase during the private pre-sale and crowdsale. The crowdsale with have bonus tiers ranging from 5% to 35%. Details can be found in their whitepaper. Unsold tokens will be burned.

The token distribution is as follows:

  • 62% Crowdsale
  • 18% Private Presale
  • 16% Team – 2 Year Vesting
  • 4%  Bounty

ICO proceed allocation:

  • 53% Technology & Software Development
  • 14% Business Development & Operations
  • 20% Marketing, Community & Sales
  • 5%  Security
  • 4%  Legal, Regulation & Compliance
  • 3%  Offices & Miscellaneous Expenses

Team

The ARXUM executive team brings experience in software development, management and business ownership/development. ARXUM’s core team consists of software developers, industrial PLC systems, application programming and blockchain developers. Twelve team members and eight advisers are listed on the ARXUM website including the following:

  • MARKUS JOSTOCK, PhD
    • Founder & Managing Director – ARXUM
    • Head of R&D and Production IT – AREND Prozessautomation GmbH
    • Former Postdoctoral Researcher – University of Luxembourg
  • JENS HARIG, DIPL.- ING.
    • Founder & Managing Director – ARXUM
    • Managing Director – HIC Investitionen und Consulting GmbH
    • Former CEO / CFO – SEVEN PRINCIPLES AG
  • GEORGE SPASOV
    • Blockchain Development – ARXUM
    • Blockchain Developer and Chief Of Delivery – LimeChain
    • Co-Founder and Chief Growth Officer – Swip
    • Former Senior Software Developer – Musala Soft

Advisers include:

  • CHRISTIAN FERRI
    • President and CEO – BlockStar
    • Board Member – Blockchain Compliance Alliance
  • PROF. DR.-ING. WALTER JAKOBY
    • Professor of Automation, Engineering, and Management – Trier University of Applied Sciences
    • Expertise: Management of interdisciplinary Projects, Development of Cyber-Physical-Systems, and Systematic Problem Solving
  • SERGEJ STEIN
    • Co-Founder – DLT Capital GmbH
    • Scientific Assistant – Frankfurt School Blockchain Center

Verdict

ARXUM has the advantage of coming from an existing company with major business connections. This will be a leg up in terms of adoption. If manufacturers are quick to join and utilize ARXUM, they could achieve success and create name recognition ahead of competitors. Also, having an MVP (ARXUM Connection Box) prior to the crowdsale gives investors more confidence over investing in a whitepaper ICO.

Risks

  • The hype factor can’t be denied in the current ICO market. Compared to other ICOs that heavily market themselves to create hype and attract investors, ARXUM currently has relatively low hype and low social media presence. Also, with ARXUM selling 80% of their tokens, they don’t have as high a marketing budget as those who sell less. -1.5
  • While a relatively small amount is being sold in the private pre-sale, there is no lock-up period mentioned on the tokens sold. The pre-sale will almost assuredly have better terms than the public crowdsale. -1.5

Growth Potential

  • While many ICOs come to market with little more than a website and whitepaper, ARXUM is an ICO with an actual MVP. The ARXUM Connection Box is fully developed and ready for use. +4
  • Eighty percent of tokens are available for purchase and the majority of those will be sold in the public crowdsale rather than the private pre-sale. This should definitely appeal to average investors. +3
  • The team, along with five credible advisers, is 12 members strong and brings experience in the necessary fields required to bring the project to success. Their 2 year vesting period also shows dedication and commitment. +4

Disposition

While ARXUM hasn’t been heavily marketed, the project is an excellent fit for the blockchain. Whether more hype is created or not, ARXUM has potential to be a profitable ICO in 2018 with an already working product and 80% of tokens for sale at a reasonable hard cap. Coming from an existing company with established industrial partners will help with implementation and adoption. ARXUM receives a 7 out of 10 rating.

Investment Details

  • Symbol: AX
  • Platform: Ethereum
  • Total Supply: 125M
  • Available for Purchase: 100M (80%)
  • Token Price: $0.25 USD
  • Hard Cap: $18.75M
  • Private Pre-Sale: $5,625,000
  • Crowdsale: $13,125,000
  • Crowdsale Date: TBA
  • Bonus Tiers: ICO Phase 1 – 35%, ICO Phase 2 – 20%, 15%, 10%, 5%

For more information regarding Arxum:

Website: https://arxum.com/
Telegram: https://t.me/arxumforall
Facebook: https://www.facebook.com/ARXUM-224545318086179/
Twitter: https://twitter.com/TheArxum
LinkedIn: https://www.linkedin.com/company/arxum/
Reddit: https://www.reddit.com/user/Arxum_company/
Medium: https://medium.com/arxum
YouTube: https://www.youtube.com/channel/UCk90zCdbms2Ns1EFecsPJlg

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 43 rated postsKent Hamilton - ICO Analyst on Hacked and Founder of CryptoDayTrader.io - ICO Insider Info




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