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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:

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.

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

  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: IoTBlock

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Internet of Things is an emerging technology with the potential of immensely improving our lives. Connecting every single capable device, whether it is a car, a home appliance or a billboard, IoT allows for the collection and enabling of data analysis in a more efficient, faster and cheaper way. Consider that a car accident has just happened quite close to your workplace. This causes a traffic jam, making it inconvenient to use a private car. Usually, this information is either made public too late or is not released at all. If you had known, you could have used some other means of transportation, like the metro, and avoided wasting your time in traffic.

It is almost certain that this technology will take off in the future as many industry giants have already started to research and produce several products. In fact, it is estimated that by 2025 the IoT sector will grow to $11 trillion with 75 billion devices. Yet as in any emerging technology, just as in the case of blockchains, there are several problems which are required to be solved before it is widely used by the public. Studies show that 70% of IoT devices use non-encrypted forms of communications and 80% don’t have even the most basic security. Unfortunately, this makes it possible for hackers to abuse security flaws in a single device and gain access to the whole network. For instance, earlier this year, some hackers used an IoT-connected fish tank thermometer to steal a casino’s database.

In order to solve current and foreseeable problems in the IoT industry, IoTBlock provides a device-agnostic and blockchain-agnostic protocol. This agnosticism should be highlighted, since it means that the protocol can be used by any IoT device and any blockchain, whether it is Ethereum, IOTA, or Hedera Hashgraph. As of now, even the most popular blockchain-based IoT solution provider IOTA does not offer this. IoTBlock’s other important key features include secure authentication, open auditability, and cross-chain communication. The protocol can be used for IoT device authentication, insurance and dispute resolution, device health and safety verification, and data exchange.

Thanks to the use of Ora Protocol, a truly decentralized network of IoT devices is made possible. By its proof of authority, nodes are incentivized to serve truthful data and report inaccurate or malicious data. These nodes are rewarded with tokens in return for their contributions to the network.

Token

Although very little information regarding the token’s use is released at the time of writing, for now, we can say that it will act as a native token to pay fees for platform services. It should be noted that it is emphasized that the token is looking for a stable price per token, which is quite reasonable if it is to be widely used.

No information on the IoTBlock token metrics or how the team is planning to use the token sale proceeds are released at the time of writing.

Team

CTO Michael Arbach: Arbach was a blockchain architect at KodakOne.

Sanjeev Verma: Prior to joining to AMD as a principal architect, Verma has worked as a mobile security architect at Samsung Electronics, a senior research engineer at Nokia and a member of technical staff at Bell Labs.

Richard Fushimi: Fushimi was the CEO at Rocket Internet SE, the president, and COO at Sega, and a managing consultant at Genpact Headstrong Capital Markets.

Leo Rong: Rong has worked as a software engineer at Splunk for over thirty months.

Advisors

Chad Pleper: Pleper was a senior infrastructure architect at Elsevier.

Tugrul Firatli: Firatli has worked as the vice-president of global communication practice at TIBCO Software, as a software engineer at Apple and as a member of technical staff at Bell Labs.

Rex Wong: Wong was a founding investor at Applied Semantics, the company who created AdSense and later sold it to Google in 2003.

Verdict

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

Risks

  • No information regarding token metrics is not released at the time of writing. This makes it hard to evaluate the project’s worth and any potential return on investment. (-1)
  • It is a reasonable assumption that the competition in the IoT sector will be harsh in the future. As more and more technology giants might enter the market, it is likely that they might leave the blockchain-based IoT companies like IoTBlock in the dust with their superior resources. (-2)

Growth Potential

  • All-star team members like Sanjeev Verma and Richard Fushimi. (+2)
  • The protocol’s device- and block-chain agnosticism. (+3.5)
  • The team’s origins can be traced to a hardware and RFID device manufacturer started in 2004. This shows that the team is highly experienced in the IoT sector and not just riding the blockchain hype train. (+2.5)

Disposition

The emerging technology of the Internet of Things is expected to be widely used in the near future. It is estimated that by 2025 the sector will grow to a value of $11 trillion with 75 billion devices. Its use cases are limited only by one’s imagination, but as in the case of any emerging technology, just like blockchains, there are several important problems to be solved to gain wide public acceptance.

Currently, 70% of IoT devices do not use encrypted forms of communication and 80% do not have a basic level of security. As devices in a certain place are connected to the same network, to gain unlimited access to one device is to gain access to the whole network. Some hackers’ gaining access to a thermometer in a fish tank and using it to steal a casino’s database earlier in this year is an example.

IoTBlock provides novel solutions to solve this issues. The team consists of all-star team members like Sanjeev Verma and Richard Fushimi. The protocol is designed in a device- and blockchain-agnostic way, so that IoTBlock can be used by any IoT-connected device and blockchain.

Still, no information on token metrics is released as of the time of writing, making it hard to evaluate any return on investment. Also, the competition in the IoT sector will be extremely fierce in the future and the entrance of more and more technology giants to the sector might leave the blockchain-based IoT companies like IoTBlock in the dust with their superior resources. IoTBlock receives a 6/10.

Investment Details

  • Type: ERC20 – Utility
  • Symbol: Unspecified
  • Platform: Ethereum
  • Crowdsale: Unspecified
  • Minimum Investment: Unspecified
  • Price: Unspecified
  • Hard Cap: Unspecified
  • Payments Accepted: Unspecified
  • Restricted from Participating: Unspecified

For More Information

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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ICO Analysis: EndChain

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Logistics is a series of transactions that link a product from raw material through to the consumer. The logistics and transport management industry generate approximately 13% of GDP globally. Current supply chain logistics models are good, but not great. They can be improved by blockchain technology.

EndChain is a new project based on Ethereum, which aims to disrupt the logistics industry through decentralization, open protocols, and utilities. They believe the best way to improve current systems is to eliminate almost everything except the scan of the package.  According to them, “Technology can be molded to handle the rest of the necessary steps and to fit the needs of all users wanting to access the data.”

From the whitepaper:

“While some companies have attempted to create blockchain solutions for modern logistical problems, no complete solution exists today. Current options revolve around expensive RFID chips or an overt reliance on consumer input. EndChain focuses on the entire logistics chain: from manufacturer to businesses to customer to reseller. The goal of EndChain is to become the blockchain solution that the logistics industry desperately needs by allowing one blockchain that is easy to use for all verticals of the supply chain.”

EndChain wants to reduce the cost of logistics by providing a blockchain that’s responsible for all the data across the supply chain. Their uniform blockchain lets businesses easily adapt and communicate with one another. Their system will cover each sector of the supply chain, including the second-hand market.

The entire Endchain system is based on the use of their patent-pending QR/barcode design. Each item produced in the EndChain supply chain is paired with a unique id that can be automatically registered on the chain. This id is the foundation of Endchain and ensures that every physical item is linked to its digital counterpart.

All businesses which use the EndChain software will be able to identify themselves as producers, transportation, B2B or B2C stores. Employees simply need to scan the code. That simple scan will break down both the generic barcode and the individualized QR code. The software then automatically updates the chain with the new data that can be seen by all users.

There are 2 major benefits to their QR/barcode combo:

  1. It simplifies the scanning process. Instead of 2 or 3 separate barcodes, logistics workers will only have one easy to read code, filled with all the data.
  2. The code will update both the blockchain and the legacy systems at the same time. This allows EndChain to easily integrate with legacy systems that may not want to completely change their current methods just yet.

Additional benefits:

  • Reinforce the Authenticity of product
  • Secure transactions and fast settlements
  • Visibility in the supply chain
  • Cost-effective
  • Route optimization
  • More info on the product and cheaper costs
  • Ownership history

Token

ENCN token is required to purchase QR codes, make smart contracts, and access the data stream.

Token burning: EndChain’s self-regulating economy burns 2-4% of tokens per transaction. It works by destroying  more coins if the current market value of the ENCN is low. If the value of ENCN rises, less supply is destroyed as fewer coins are required for each smart contract.

Distribution:

  • 55% ICO
  • 22% Future development
  • 10% Team
  • 5% Leadership
  • 5% Advisors
  • 3% Bounty and referrals.

Use of proceeds:

  • 60% Development
  • 25% Marketing/sales
  • 5% Legal
  • 5% Security and compliance
  • 5% G & E

Team

Team EndChain is a mixed group from all around the globe. 15 team members and 9 advisors are listed.

Aaron Perkowitz – CEO.  Since October 2017 until now he’s been a Fund Manager at HNA Group, a global Fortune 500 company focused on aviation, tourism, logistics and financial services. Other than that, he lists 3 internships; Morgan Stanley, AngelVest, and RocketSpace.

Pierre Angot – CTO. Paris, France.  A self proclaimed Artificial Intelligence and Blockchain maestro, co-founded Medway, a telephone medicine app with between 2-10 employees. 2 years Managing Director at WAGT Consulting. Currently a Data Consultant at Verteego.

Felix Engelhardt – Business Developer. Currently (8 years) an Analyst at Cimic Group Limited, a world-leading infrastructure, mining, services and  private partnerships group with over 1,000 employees.

Javince Chan – UI/UX Designer. Lots of experience specifically in UX design; Currently at Quadrant Studio, she’s also worked for Amazon (1 yr), AKQA (1 yr), and Symplicit.

It’s an impressive group of advisors, with specific skills they acquired from places like; Huawei, Cimic Group, Morgan Stanley, Audi, Uber, Activision and Blizzard.

Partners are highlighted below:

Verdict

“EndChain provides a complete and cost-effective logistics package that benefits all parties of the supply chain. While most utility tokens focus on high end goods, EndChain focuses on the low to middle market, an area that has been ignored for too long. EndChain is able to enter this market due to the ease and low price of our system compared to other utility tokens which focus on expensive NFC chips or manual entry.”

The current blockchain solutions for the logistics industry won’t work for the majority of goods. They are too expensive to mass produce, therefore, they focus on luxury goods such as handbags, diamonds, and art while the vast majority of market purchases are ignored. EndChain is working on a solution by making a cost-effective product that can be applied to all goods.

Risks

  • Ethereum Blockchain. -1
  • There is already a lot of blockchain competition, and all their token values are at all time lows right now. Demand is not currently here. -2
  • 3% of their tokens will go to bounty/referrels. These bounty hoes usually just dump their tokens as soon as they hit an exchange. -1
  • 50% presale bonus. Same thing as above. They will dump at the first sign of dumpage. -1
  • This will be really challenging to scale. -1.5
  • Unsold tokens may or may not be burned. When we asked them in Telegram, their response was, “Once we got a concrete details, Soon we will be having an important announcement regarding that matter, stay tuned.” -0.5

Growth Potential

  • The team has produced a very profession ICO, a patent pending scan system, and lots of work on GitHub. Here’s their CEO giving a quick explanation on the work they have achieved so far. +2
  • Their uniqe QR code incorporates a barcode within the QR code. This allows users to scan the only code found on the packaging. Businesses that still use a legacy system can scan the embedded barcode. +3
  • 2-4% of the revenue generated from sales will be dedicated to burning EndChain tokens. +4
  • They will give a percentage of ENCN tokens to tradition shipping companies for free, to recruit them to the blockchain. Once they see the benefit of EndChain, they will become valuable costumers. +2
  • One of the largest benefits of this system is that it can be done offline. Information isn’t being downloaded, only uploaded, therefore it can remain in the system until its fully loaded, no need to wait to scan the next item. +3

Disposition

The team is strong, the whitepaper is professional, and the roadmap is realistically detailed. The goal is to launch the full version in Q3 2020. If they raise enough money in this token sale, we like their chances more than most. 7/10

Investment Details

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.2 stars on average, based on 26 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: OATH Protocol

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OATH Protocol wants to build an analog of a decentralized dispute resolution system modeling the common-juror system. In their view, this will solve the solution to the blockchain governance problem.

OATH Protocol wants to provide a solution to the Blockchain Governance system.

In order to do this the company plans to:

  • increase the usability of smart contracts by providing an easy to use user-friendly smart contract creation tool
  • creating a decentralized jury community, comprised of members with diverse backgrounds and areas of expertise
  • invites users from all communities to not only provide governance for the dApp they support but also for other ecosystems.

The protocol’s main advantages include:

  • Trust – all data is hashed on a blockchain.
  • Confidentiality – all jury members data of confidential.
  • Dynamicity – protocol will ensure that different jurors will be resolving multiple cases to avoid a collision and ensure the integrity.
  • Fairness – protocol will ensure random jurors selection based on a variety of factors as gender, background, age, etc. to have full objectivity.
  • Incentive – a mechanism to motivate jurors for participating and assign them credit.
  • Autonomy – parties mutually set rules that they would be bound by.
  • Transparency – jury votes are disclosed to the community after resolution.
  • Archive – protocol allows keeping all data in a structured irrecoverable way.

Use cases include, but are not limited to, the following:

  • E-commerce, which involves a variety of disputes, such as quality problems, missing pieces, broken product, etc. OATH jury will resolve each dispute based on user-provided testimony.
  • OTC trade of digital assets.
  • Disputes involving decentralized property rent.
  • Decentralized moderation.
  • Oracle for betting.
  • public chain governance.

So basically OATH is a decentralized agnostic protocol that offers a solution to of decentralized governance to all blockchains and Dapps.

Blockchain architecture is highlighted below:

OATH Protocol is an agnostic blockchain which may be integrated into other Daps and public chains.

The chain contains two main files:

  • Case ledger, which includes all information such as contracts, verdicts, voting reasons, selected jurors.
  • IPFS (InterPlanetary File System), which is a network designed to create a content-addressable, peer-to-peer method of storing and sharing hypermedia in a distributed file system. It replaces traditional domain names with content addresses so that users don’t have to consider names and paths of file storage.

Token

The total token supply is: 10,000,000,000 ERC-20 tokens (OATH).

Token use is summarized below:

  • Engagement between participants/granting access to the platform
  • Internal currency

Tokens are earned as nodes, disputes resolution and community services.

Team

We see a well-balanced team with a diverse background in tech, business, and law. Yin Xu, CEO, won several awards for best mobile application.

Jenny Vatrenko, COO, is an influential lawyer and  former litigator at Boles Shiller. She is active on the group’s Telegram channel.

Hongwei Wang has a strong technical background, including eight years of combined experience at Google and other tech-focused companies in China.

On the advisor side, we see people from Zefund, Qidain Capital, Continue Capital, a founder of an EOS supernode and energy startup NAD. Advisors cover the main focus groups: technology, business and legal. Jia Tian is a notable advisor who worked at Baidu and Alibaba, and is a big investor in Bitfinex Dafeng Guo. Tian worked for big investment banks like Morgan Stanley and Goldman.

Zainan Zuo is another notable advisor who serves as a core developer at Ethereum, and is a main developer of the ERC-1202 standard for Ethereum.

Investors

Several notable investors from the VC and blockchain worlds are also worth mentioning. While most are medium-sized funds, Quarkchain is among them. Quarkchain was a top ROI project during the second quarter of this year. EOS Asia and NEM are also partnering with OATH.

Verdict

In general, the project looks interesting. The team has the necessary technical skills to implement the product. We see the support of smart money. The very idea of the product itself is exciting. The decentralized dispute resolution system, which can be used both as a means of resolving disputes between traditional subjects in arbitration and within a decentralized system, deserves interest.

Risks

  • The project does not have MVP, only active Github. -1
  • Low public activity. -0.75

Growth Potential

  • The strong point is that it is an agnostic protocol so that it can be plugged to any blockchain and provide additional value to that respected network with their service. +2
  • The overall idea is interesting. +1
  • Any user of any blockchain can automatically be selected as a juror for OATH dispute which provides flexibility and helps to get users on board. +1
  • The token use case is rather strong – parties must deposit tokens during dispute case and pay arbitrators for their services. +1
  • The roadmap is medium long. Although for this kind of project long-term potential will rise together with overall crypto field and decentralization. +1
  • Token metrics are on the good side. +1
  • Team, advisors, partners, and VCs have been verified. +1.5

Disposition

I would say that the project is above average, but one should wait for prototype and full metrics to make the full investment decision. Currently, the rating of 6.75/10 is warranted, though it may be further increased or decreased once the project is up and running.

Investment Details

  • Type: utility
  • Symbol: OATH
  • Platform: erc-20
  • Crowdsale: TBA
  • Minimum Investment: TBA
  • Price: TBA
  • Hard Cap: TBA
  • Payments Accepted: TBA
  • Restrictions Barred from Participating: TBA

General details:

Website – https://oaths.io/

Whitepaper – https://oaths.io/files/OATH-Whitepaper-EN.pdf

FB – https://www.facebook.com/oathprotocol/

Telegram – https://t.me/oathsio

Medium – https://medium.com/@oathprotocol

Featured image courtesy of Shutterstock.

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4.9 stars on average, based on 29 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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