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ICO Analysis: Matryx by Nanome



Nanome Inc. is a software company that seeks to ultimately democratize science so as to accelerate innovation. The company plans to do this by combining virtual reality and blockchain technologies.

Nanome has developed, tested and brought to market an array of products being used today by premiere pharmaceutical industry companies. Its decentralized collaboration platform, the currently in development Matryx platform, will feature blockchain technology in order to incentivize use and thus collaboration.

The idea behind Nanome Inc. and Matryx is that VR and blockchain have a synergistic future. That’s why they’ve developed the Nanome User Stack, which includes Nano-Pro, CalcFlow, nano-one, Matryx and others.

A former Yahoo Advanced Strategy Groups Members, and Professor of Visual Arts at UC San Diego, Benjamin Bratton is behind many of the ideas fueling Nanome, Inc. The company was spun out from Dr. Bratton’s Design: Geopolitics lab at UC San Diego. He wrote the tome, The Stack: On Software and Sovereignty, and serves as a Nanome advisor.

Instead of focusing on the entire planetary computing stack of the future laid out in Dr. Bratton’s book, Nanome focuses on the nanoscale. The team believes “that all science and engineering is headed toward nanoscale precision.” (Even cryptocurrency mining)

Co-founder of Edge (formerly Airbitz) Scott Morgan shows off the Nanome technology.

There are good reasons the team has launched a token sale, as the collaboration done on Matryx will be fueled by bounties denominated in MTX, the project’s native digital token, and eventually other crypto-tokens and crypto-currencies.

The team is comprised of longtime cryptocurrency enthusiasts, for instance. Paul Puey, Edge (formerly Airbitz) Co-Founder, is an advisor. Nanome will incorporate the Edge wallet into Matryx. The collaboration platform’s use of Edge is designed to increase usability and security. Edge SDK applications on virtual reality platforms “allows for a more streamlined blockchain experience.” Nanome Chief Financial Officer is Scott Morgan, also a Co-Founder of Edge. Why a partnership between leading cryptocurrency wallet and Nanome?

“In an ideal world, users wouldn’t have to remove the VR headset to communicate with a blockchain platform,” said Edgardo Leija, Nanome Co-Founder. “Edge’s integration into VR products is essential to improving our user experiences.”


The token itself is a utility token. The ideal user case is, say, a big pharmaceutical/NIH/University digitizes proteins via X-ray crystallography and publishes that protein as a Matryx platform bounty. A user can find or be assigned a bounty in MTX and design and submit a solution.

Nanome’s VR products are designed to be used by a university researcher in the short term, but the long term vision is to incorporate the crowd – “the target demographic is someone who currently drives Uber for supplemental income.” This is where MTX plays a role.

In the Matryx model, the designer of a winning solution gets compensated immediately at the end of the round in MTX. The pharma company manufactures the drug, puts it through clinical trials, and then brings it to market. The pharmaceutical company and the solution poster share the revenue in MTX.

“Such transaction, compensation and IP logics will be automated through smart contracts and cryptocurrencies,” according to Nanome CEO Steve McCloskey. “The Matryx blockchain then serves as immutable proof of user creations.”

Distribution of Token

The Nanome team placed the Matryx hard sale cap at 26,688 ETH, and the token sale ends November 15. Unsold tokens will be burnt at the end of the sale via smart contract.

The number of tokens available will be approximately 60% of the total supply. Matryx will send unsold tokens, as well as the proportional amount of the withheld allocation to the zero address so as to burn them.

There are six days left in the token sale. The team will be initiating a “self-destruct” of the MTX smart contract code on November 15 or when the hard cap is reached. All 314 million MTX will be minted upon “self-destruct” of the contract.

The Team

The Nanome team, the team behind Matryx, is a formidable one – especially when compared to many of those projects currently leading token sales.

CEO Steve McCloskey, an Alumni of the first UC San Diego Nanoengineering department (and first nanoengineering department at a University in the world), has focused his work at the interface level from design approach on the human interface to digital technology and the biochemical interface of nanomaterials.

At UC San Diego, McCloskey collaborated with the founding Chair of the Nanoengineering Department, Ken Vecchio, to set the foundation for the Nanoengineering Materials Research Center. They developed thermodynamic processing methods for Iron-based Superelastic alloys.

Armed with a B.S. in Nanoengineering, McCloskey enrolled in graduate courses at UC San Diego in Nanoengineering Materials Simulations and Human Interface Design. He foresaw that Virtual Reality and Augmented Reality could propel Nanoengineering forward. He founded Nanome in 2015.

Chief Operating Officer Keita Funakawa is a scientifically-minded artist, who grew up in Tokyo before moving to Honolulu for middle school and high school. He was the lead programmer for his high school robotics team, and led his team to two state championships at the East Oahu VEX robotics competitions. Funakawa received his degree in Quantitative Economics. He entered the VR industry in 2014.

An Edge (formerly Airbitz) co-founder, Scott Morgan is also a Co-Founder and CFO of Matryx. While with Edge, Morgan oversaw the development of the world’s first fully private, Single Sign On solution for blockchain and decentralized applications. This included cutting edge tech so any application could secure client-side encrypted data for users with invisible encryption, automatic backup, password recovery and synchronization across devices owned by the user. Morgan plays a big role in Matryx’s blockchain pursuits due to his background.

Chief Experience Officer Edgardo Leija graduated from UC San Diego with a B.S. in Cognitive Science. He specialized in Human Computer Interaction and minored in Computer Science.

Chief Technology Officer Vincent Brunet is a full-stack Software Engineer who worked at the company ZestMeUp before working with Nanome. While at ZestMeUp he worked as a full stack developer, managing the company’s software development from specification to staging and production. At the University of California, San Diego, he studied computer science and graduated with a 4.0 GPA.


There is no shortage of big name advisors on the Nanome and Matryx team.

Greg Horowitt is a venture capitalist, Innovation Ecosystem Architect, and author. His expertise is in high impact startup investment and mentorship, innovation based economic development, capital formation, policy, strategy, technology transfer and commercialization. He is Co-Founder of a leading innovation think tank, T2 Venture Creation, and has served as a senior executive for Fortune 500 company.

Dr. Benjamin Bratton’s work pertains to philosophy, art, design and computer science. He is a Professor of Visual Arts and Director of the Center for Design and Geopolitics at University of California, San Diego. As well, he is a Professor of Digital Design at the European Graduate School and Visiting Faculty at SCI_Arc (The Southern California Institute of Architecture).

Bratton wrote The Stack: On Software and Sovereignty (MIT Press, 2016). In this 500-page book, he describes a new theory for global computation and algorithmic governance. He proposes that planetary scale computation systems including smart grids, cloud platforms, mobile apps, smart cities, the Internet of Things, automation should be seen “not as so many species evolving on their own, but as forming a coherent whole: an accidental megastructure that is both computational infrastructure on a new governing architecture.”

Paul Puey is the former of Edge (formerly Airbitz). The company is one of the earliest bitcoin companies. Edge is a bitcoin wallet provider and is based in San Diego, California. The startup received $25,000 from the Plug N Play Tech Center, and joined the accelerator program there. Airbitz raised $450,000 from venture capital firm Block26.

Edge’s primary product is its decentralized bitcoin wallet. It enables users to store and transact in bitcoin. An Edge wallet conducted the first ever recorded bitcoin transaction in Cuba. The company invented the use of Bluetooth low energy (BLE) for bitcoin transactions, as well as one-touch 2 factor authentication

David Brin is an American scientist and science fiction author. He has received several awards and penned the novel The Postman, upon which a feature film starring Kevin Costner in 1997. His nonfiction work, The Transparent Society, earned him the Freedom of Speech Award of the American Library Association.

As 2010 fellow of the Institute for Ethics and Emerging Technologies, Brin established the Arthur C. Clarke Center for Human Imagination at UC San Diego. He is an advisor for NASA’s Innovative and Advanced Concepts group, and frequently does futurist consulting for corporations, as well as government agencies.

Brin has spoken and consulted with the Defense Department, CIA, Procter & Gamble, SAP, Google and more. He also serves on the Board of Advisors for the Museum of Science Fiction.

Geoff Odell is a CIO level IT executive. He has 25 years of leadership experience. He led large global teams for Novartis, focusing on IT infrastructure and business facing Application Development spaces. He has had budget accountability for more than $680 million, while leading global organizations, as well as contractors and more than 600 staff.

Ronald Graham is the inventor of Graham’s Number, and is credited by the American Mathematical Society as being “one of the principal architects of the rapid development worldwide discrete mathematics in recent years. His work has covered scheduling theory, computational geometry, Ramsey theory, and quasi-randomness.

At present, Dr. Graham is Chief Scientist at the California Institute for Telecommunications and Information Technology, as well as the Irwin and Joan Jacobs Professor in Computer Science and Engineering at UC San Diego.

Hacked could go on and on here.

Additional advisors include Mark Thiemens (Former dean of Physical Science at UC San Diego); Jurgen Schulze (Prof. of Computer Science at UCSD. 18+ in VR and Computer Graphics); Silvia Mah (Executive Director of Hera-Labs); Daniel Berard (Former Lead Engineer and Accelyrs/Dassault Systemes); Deborah Jude (Communications Officer at Center for Microbiome Innovation at UCSD); John Graham (Lead Engineer of Pacific Research Platform), and Bruna Mori (Director of Engagement of The Center for Design and Geopolitics)


Matryx has developed products being used today in the world’s foremost research and development labs. I also like the fact that they have support from University of California, San Diego, which is one of the premiere universities in the United States. The UC San Diego Skaggs School of Pharmacy will be demoing Nanome’s blockchain-based collaboration platform and consulting on its development.

That includes on blockchain initiatives. They are nearby to the world’s premiere biotechnology firms, who work with the UC, and Nanome continues to tailor their products to serve the industries who need them both.

Nanome on display at Devcon3


The risks of the Matryx project are the same as any ERC20 Standard. This is an extremely uncertain area. In a way, the MTX value is based on the success of certain Ethereum features. But, with that said, the Nanome team has plans of developing their own independent blockchain, and certainly has the skillset to do so. (Sam Hessenauer, a former full stack engineer for General Electric, is a new addition to the team) Most likely for legal reasons, the team stays mum about the listing of their token one exchanges.

Growth Potential

The growth is unlimited. UC San Diego uses Nanome interfaces. The company hopes to see research on the Matryx platform in 1-3 years with Big Pharma companies crowdsourcing their designs to smaller biotech firms and universities in 3-5 years. Hacked saw firsthand documents about partnerships and use-cases that are currently under Non-Disclosure agreements after being contacted by Nanome, Inc. while this review was in the process of being written. The company also discusses the “Uber demographic” adopting the Matryx science collaboration platform in 3-5 years.

International chemicals and plastic company Solvay, which was founded in 1864, uses Nanome for visualizing three-dimensional data in their chemical analysis. And so, Nanome created ‘Nano Pro: Data Science” to allow Solvay scientists to walk through three dimensional data and experience it in a more intuitive manner. Also, Nanome has products on Steam and Oculus VR marketplaces.


Nanome has a formidable team with ten full-time developers.  The company has several products which are currently being used by pharmaceutical companies, which puts them ahead of most companies issuing tokens.

Their technology has been put on display at conferences like Block Con, CoinAgenda, Devcon3 and more. I tried it on at Block Con in Santa Monica and that helped me get the idea behind their VR drug design product Nano-Pro, and calculus product CalcFlow. It was quite mind-expanding going into VR for the first time. Not to mention, doing so in order to work on a molecule at the nanoscale.

8.2 out of 10.

Investment Details

Token: MTX, ERC-2o standard
Sale: now until November 15.
Open Sale: September 16
Supply: Depends on token sale. All unsold tokens will be burned.
ICO price: 1164 MTX = 1 ETH
Accepted payment: ETH, BTC, LTC
Total emission: 52,162,720 MTX
60% – ICO
40% – Other
On sale: 31,297,632 (60 %)

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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5 stars on average, based on 1 rated postsJustin O'Connell is the founder of financial technology focused Justin organized the launch of the largest Bitcoin ATM hardware and software provider in the world at the historical Hotel del Coronado in southern California. His works appear in the U.S.'s third largest weekly, the San Diego Reader, VICE and elsewhere.

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  1. Mark502

    November 11, 2017 at 11:00 am

    Hi Justin, in your review you say that erc20 is extremely uncertain. I get where you are coming from to a degree but would love to read about all your reasons for saying that, what might replace it etc. either here or in a separate article. Thanks

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ICO Analysis: IoTBlock



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.


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.


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.


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.


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


  • 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)


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



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


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.


  • 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 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:


“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.


  • 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


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




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.


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.


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.


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.


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.


  • 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


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 –

Whitepaper –

FB –

Telegram –

Medium –

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 in April 2017.

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