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ICO Analysis: Neuromation

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“Neuromation is a distributed synthetic data platform for deep learning applications. Unblocking game-changing computing capacity for wide AI adoption”

A couple weeks ago, like most people, I had zero clue what this meant. Since I started researching this project my eyes have been opened, and my mind blown. Three key definitions to help understand the project.

Synthetic Data:  Any production doata applicable to a given situation, not obtained by direct measurement.

AI neural network: An interconnected group of nodes, similar to the large network of neurons in a brain.

Machine learning: AI that provides computers with the ability to learn without being explicitly programmed. Solving giant math problems and self adapting when exposed to new data. The process is similar to data mining.

Neuromation is where data scientists and companies can get all their AI data analysis needs met faster and cheaper than anywhere in the world.  This is possible because they reward GPU miners for using their computational power to mine this synthetic data. After the synthetic data is generated, scientists can specify how they want to train their machines to analyze the data in record time on a separate group of nodes.

Here’s how Neuromation describes themselves:

“Neuromation is a technology platform that creates synthetic learning environments for deep learning of neural network. These simulations are then used for training better algorithms.

We are building the platform of distributed computing for creating artificial worlds where AI algorithms are trained on simulated sensory inputs. These synthetic worlds also have a virtually infinite supply of perfectly labeled training data. AI plays, as with video games, to learn specific tasks in the real world.

Our technology is crucial to making Deep Learning-based systems useful in the real world as they are taken up by industry. With Neuromation, the future has arrived where computers teach computers to perceive.

Our strategy is not to develop our platform in isolation, but to work with partners in select industries in order to try to bring our vision organically to life. We are developing “Neuromation Labs” that would develop synthetic data and train deep learning models on live applications. Each “lab” like Retail Automation Lab, Industrial Automation Lab, Pharma/Medicine/Biotech Lab will be a study on a specific problem in a partnership with a category leader. As our platform is fleshed out we will be moving parts of generation and training there, allowing us to organically test parts of our vision in real-life scenarios. The Labs will seed the Neuromation Platform market with initial data generator and data sets. We will also encourage our Labs partners to transact farther services through the platform, thus building the initial market for services.”

The Token

In order to do transaction on the platform you must use Neurotokens. To make it easy, Neuromation will provide a portal with a one click token buying process.  The platform offers 5 services; Data generation, data labeling, data purchase, model training, and model purchase.  The price customers pay for each service will depend on how much it costs for the nodes. The platform will determine the resources required for each task, then select the most efficient node pool (minimizing the cost to the costumer, while still making it extremely profitable for the nodes/miners. This brings me to the juice of this project.

Mining Knowledge instead of ETH: The reason why synthetic dataset generations haven’t seen widespread adoption yet is because of the huge deficiency of computing power. Neuromation plans to change this by offering cryptocurrency GPU miners 3-5 times what they make per hour mining crypto, to mine Neuro(synthetic data/machine learning) instead How this works is in addition to their existing mining software miners load up a neuromation computation node. This node is special because it allows miners to mine their normal cryptocurrency until Neuromation has a task available, at which time the miners will switch over to mining neuro until the task is complete.

Since I believe this to be the heart of the project, I emailed the neuromation team and asked them to break down further how their mining/node system works. Here’s what they said.

“To mine neurotokens, you will need to load our node. If your system is eligible (depending on processing capacity, bandwidth) the node will activate and wait for tasks. The nodes take on available tasks if they win an internal auction. That auction is run in tiers. Tiers are numbered from 0 to 4. Nodes in tier 0 get a higher priority (the auction will first try to distribute the task among lower tier nodes) then nodes in tier 1 and so on. When our token sale is running you only tier 4 nodes will be available.

We have a program where miners can invest various amounts into out pre-sale and secure a certain number of lower tier nodes. It is:

— 3,000 Ether for tier 0 (500 node keys)
— 1,000 Ether for tier 1 (100 node keys)
— 600 Ether for tier 2 (100 node keys)
— 200 Ether for tier 3 (50 node keys)”

Why Blockchain? Today if a data scientist wants access to a large amount of computer power he can go to Amazon and pay for it. They will charge him 12 times what it costs for GPU miners to generate it. This is a giant opportunity for Neuromation to slide in.

Distribution of Token

60 million of the 100 million total supply will be sold during the ICO.

base price = .001 or .30 cents per token + bonuses

The presale is taking place right now thru November 28 (25% bonus). you must sign up for the whitelist https://ico.neuromation.io/en/

The regular ICO starts November 28th and runs 4 weeks:

week 1 (15% bonus) week 2 (10%) week 3 (5%)

Important to note:  Over the next 3 years, neuromation will burn 50% of the total supply!

2018 =30% 2019= 20% 2020=10% (hmm, this is actually 60%, i think they made an error)

The Team

This is a seriously talented team They are out there putting in a lot of work too. Winning competitions, attending conferences, and forming partnerships (hacken.io, TaaS).

CEO- Max Prasolov has been a big time player since 2001. Here’s a short informative interview he recently did. https://cryptosrus.com/interview-neuromation-ceo-maxim-prasolov/ . I’m actually just going to copy and paste his introduction to the rest of his team. Note, I did look fairly deep into each one of these guys, all legit, max just did such a good job summing them up I  will use his words.

“I’m a serial entrepreneur and TOP manager with 15 years of experience in different sectors from natural resources mining to industrial multimedia development. I was a part of the team who made an IPO of the iron ore company, blue chip on the London Stock Exchange. But all my life I’ve been in love with graphic novels and animation. I have written and produced several animation movies. While making them I have found out that AI can be trained by showing it the cartoons. This metaphor is very close to what we are doing in Neuromation.

I am glad to work with very smart and talented people involved in our company. Our mentor and advisor Andrew Rabinovich, who is a creator of key deep learning algorithm of Google image. My partner, investor and founder of Neuromation Constantine Goltcev, who believes in me from the beginning and he brings powerful engineers to our team. A deep learning scientist and mathematician Sergey Nikolenko, who is checking our crazy ideas with the proof of scientific method.

Fedor Savchenko, experienced CGI expert who creates synthetic data generator. Kyryl Truskovskyi, a talented researcher and engineer, who implements our hypotheses in deep learning applications. Denis Popov, former CTO of Viewdle, who is helping us to hire strongest software developers all over the world. All of these people are my partners and shareholders at Neuromation”

Advisors 

They have 2 absolute beasts on their advisory board.

Andrew Rabinovich –  has studied machine learning for over 15 years. has many patents and peer reviewed publication. He is the Director of Deep Learning at Google, Magic Leap!!

David Orban (Singularity University)  apparently this guy has been a pretty big deal for the last 20 years. He’s definitely good at hyping Neuromation.

Verdict

Because it currently costs so much to “knowledge mine”, this giant futuristic AI market has yet to take off. Neuromation has the answer. They incorporate the mathematical power of blockchain miners to make synthetic data mining and machine training cheaper and faster than ever before. Its now possible that in the near future, thousands of deep learning projects and b2b clients will use neuromation to develop things we haven’t even heard about yet.

The team already has many labs in the works, and has recently boasted about their new Retail Lab, that is already providing “image recognition services to major retail brands”

When just reading the nerdy worded explanations of what synthetic data machine learning is all about, it could be hard to fully grasp what changes this can have on our entire system. I recommend watching youtube videos demonstrating the power of these self learning machines.

Risks

  • It will take millions of micro-transactions for this platform to run once fully live and running. Like every project in the space right now, scalability is still a giant issue.  I emailed the team asking how they plan to deal with this, their reply, “We are looking at HashGraph currently. EOS is also an option. For version 1 of the platform we will run an auction internally on our system and not on the blockchain, so transaction volume is not an issue until the end of 2018. For now, we will likely use HashGraph. “
  • Data is the new oil, and there will be businesses aggressively competing in all sectors . Luckily for Neuromation, and their extra cheap/fast computational power, they are far ahead of the pack when it comes to knowledge mining.
  • If they cant get the miners to adapt their nodes, then the project dies. I don’t think it will be hard to get them to switch though if neuros pays way better than anything else
  • With the timing of this ICO coming out during this fork, it may be possible they don’t sell enough tokens to reach their final goal (which requires 60k eth) world wide adoption.
  • These machines are already learning things from this synthetic data that no human has ever even thought of before. This is freaky.

Growth Potential

  • Truly unlimited
  • Neuromation plans to open an Enterprise Automation Lab where the synthetic data approach will help implement solutions in manufacturing, supply-chain, financial services and agricultural industries, to name just a few
  • According to Gartner, by 2020 85% of customer interactions in retail will be managed by artificial intelligence.

Here’s a quote from Neuromation that sums up their potential better than I can

“What is especially fascinating is that in only about a month of working on the inventory recognition problem we have achieved 95+% accuracy, a result others have spent years of effort and millions of dollars on. Significantly, the model performs well on real-life data without seeing anything but synthetic datasets during training. This breakthrough proves the viability and efficiency of our approach. With Neuromation Platform, the gateway to easy AI training at scale will be finally opened.

The potential demand for image recognition alone in the retail industry is enormous. It amounts to more than 40 billion images per year, according to ECR research of 72 of the biggest retailers and suppliers. Going further, we plan to create datasets that mimic human interaction with the shelf. We will be able to track customer flow and intent, creating a full simulator of the retail store, with a multitude of possible applications”

Disposition

I have to admit, after watchin numerous machine learning neural network demos on YouTube, I feel like a teenager who just touched his first real life boob. My mind is filled with wonder and amazement. That being said, you should do your own research. I’m clearly smitten, and could be ranking her too high.

This project is unique, revolutionary, and cheaper/faster than every competitor. The science they are accelerating with these large data mines could change the world in a lot of ways. If they grow their community, and get those miners to switch over their GPU power, the possibilities are endless At only .30 plus bonus and a lower supply of only 100 million , I feel very comfortable recommending this ICO. I wouldn’t sell it anytime soon either. This is a newborn baby giraffe, with the sexy genes she got from her mother! 7.8 out 10

Investment Details

  • Symbol: NEURO
  • Presale : now until nov 28th  join the whitelist here   https://ico.neuromation.io/en/
  • Opening sale: Nov 28
  • End Date : January 1 , 2018
  • Supply : 100 million  .001 eth per + bonus

https://neuromation.io/en/

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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4.1 stars on average, based on 23 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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1 Comment

  1. rchive

    November 16, 2017 at 5:19 am

    It is an exciting space, and as they point out major players have started looking at this area dating back to 2010 and Google is already quite advanced In their training. Could you ask them where they’re going to be focusing and how they see Google (competitor or ally?)

    If you’re excited by this project go here:
    https://cloud.google.com/vision/

    Upload any picture you like and watch as google vision immediately comes up with guesses on what the object is.

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ICO

ICO Analysis: Zeex

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

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

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

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

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

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

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

Token

 

Risks

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

Growth Potential

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

Unknown

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

Disposition

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

Investment Details

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

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

Featured image courtesy of Shutterstock. 

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

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4.5 stars on average, based on 17 rated postsAlex Moskov is a writer and entrepreneur with a passion for building and creating awesome things. Alex has experience in music tech startups, digital marketing, and cryptocurrency investing.




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ICO

ICO Analysis: Tolar HashNET

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

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

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

Token

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

Token Allocation:

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

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

Team

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

Drazen Kapusta – Principal/Founder at Tolar

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

Zoran Dordevic – CEO at Tolar

  • Managing partner at COTRUGLI Business School

Josip Maricevic – Co-Founder and CTO at Tolar

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

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

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

Lester Lim – Advisor

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

Verdict

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

Risks

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

Growth Potential

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

Disposition

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

Investment Details

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

For more information regarding Tolar:

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

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

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




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ICO Analysis: SpringRole

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SpringRole is a blockchain-powered professional profile attestation and verification platform.

In other words, you can think of it as Linkedin on the blockchain.

Currently, there are a lot of problems with people making things up on their resume. According to the SpringRole whitepaper, approximately 53% of resumes contain some degree of inaccuracy.

This leads to a lot of inefficiency in verifying someone’s professional background with things like reference checks and attestations (e.g. a university attesting that someone’s educational credentials are legitimate) often being expensive and slow.

SpringRole, therefore, aims to leverage blockchain technology in order to provide a platform where people can view, share, and acquire attestations related to education, work experience, and skills.

Once information about an individual is verified, it will be written to the blockchain, making verified information publicly viewable and unchangeable. This means that once claims about one’s resume are verified, they no longer have to be re-verified in the future, saving people time and money.

There are several types of attestors on the SpringRole platform:

  1. Individuals – individuals can attest to the skills of other individuals (e.g. good at Python, public speaking). Select individuals, such as professors, can attest to things like students’ projects
  2. Companies – companies attest to employees’ work experience and other information related to their job tenure, such as title
  3. Universities – universities attest to individuals’ educational backgrounds like whether someone actually studied at the university and what degree(s) he or she obtained. Other relevant information like specific courses can be attested to
  4. Course Providers – Course providers like MOOC platforms (Coursera, etc.) can attest that someone has completed a course on their platform
  5. Examination Providers – Examination providers like College Board (SAT) and Educational Testing Services (GRE) can attest to individuals’ results on their exams

Token

The Spring network will be powered by the SPRING token.

SPRING can be obtained in the following ways:

  1. Referring others to the platform (referred individual needs to complete their profile and receive a certain number of endorsements)
  2. Refer a company (the company needs to complete a transaction)
  3. Get rewarded for endorsing or validating someone (e.g. attesting to someone’s skill in something, a university attesting someone’s degree, a company attesting someone’s work experience)
  4. Completing your profile and receiving attestations – a fraction of the token(s) goes to the attestor based on their reputation on the platform
  5. Mediate a freelancing project

SPRING can be used for endorsing or attesting to someone’s skill(s) as well as getting access to attested resumes.

There will be a total of 10 billion SPRING tokens and the token distribution will be as follows.

  • 25.5% token sale
  • 30% market development
  • 25% team and founders
  • 10% contributors and advisors
  • 9.5% foundation

Market development tokens vested over 4 years (20% on launch, 20% after 1 year, and the rest every month for 3 years).

Team and founder tokens are vested over 4 years (20% on launch, 20% after 1 year, 60% vested every month for 3 years).

Advisor tokens are vested over 2 years (50% on launch, 50% distributed every month for 2 years).

Foundation tokens are locked for 2 years.

The public presale is ongoing and has a minimum contribution of 2 ETH, maximum contribution of 500 ETH, and bonus of 40%. Price is 1 SPRING = .00002 ETH.

Public sale is TBA.

Of the token sale proceeds, 40% will go towards market development, 45% towards adoption (developer ecosystem, incubator fund, PR and partnerships), 5% towards administration, 5% towards legal expenses, and 5% towards miscellaneous.

Team

Founder and CEO Kartik Mandaville was CTO and Special Technical Advisor for Science Inc., a startup studio known for being an early investor in startups like Dollar Shave Club (acquired by Unilever for $1B) and HelloSociety (acquired by The New York Times). He was also a Technical Advisor for Science Blockchain, Science’s blockchain startup incubator. He also served as CTO of LetMeKnow.com, an online portal for Indian college students seeking internships, scholarships, and more.

Vice President of Business Development and Strategy David Lewis is an online business veteran. He started as a product manager for Software Technologies Corp, which was acquired by Sun Microsystems for nearly $400 million. He was the Director of Business Development for Overture Services, the first paid search engine that later ended up being sold to Yahoo for $1.6 billion. He was the Founder and CEO of 77Blue, which owned coupon and cash back websites AnyCoupons and Cashbaq. 77Blue was acquired by Ebates, which was later acquired by Rakuten for $1 billion. Lewis also served as Director of Business Development for Shopzilla, which at its peak was a $200 million+ revenue comparison shopping site. Having such an experienced business development expert will be of great help to SpringRole.

Advisors

Advisors include the following:

  • Mike Jones – Mike Jones is CEO of Science, Inc. and has tons of experience not just as CEO of Science Inc. but as Senior Vice President at AOL, CEO at Myspace, and investor in companies like Goodreads among others.
  • Toni Lane – Toni Lane is a known name in the blockchain space and among other accomplishments, is the Co-Founder of CoinTelegraph, which also runs properties like Coinmarketcap, and was advisor to companies like Tether and Mycelium.

Verdict

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

Risks

  • No information on presale lockups or vesting – combined with relatively large contribution limits, a bit worrisome. (-0.5)
  • In terms of platform growth, who would pay to endorse someone’s skills or validate one’s credentials? Perhaps this would be of great use to employers and HR departments but adoption looks like it would be tough for regular users. Though it looks like a large portion of SpringRole funds is going towards adoption and market development. (-0.5)
  • Granted it’s still presale, but hype is a bit weak. (-0.5)

Growth Potential

  • Has a beta, which is promising from an implementation perspective. (+3.5)
  • Good team and advisors. (+3.5)

Disposition

Though SpringRole has a relatively strong team and advisory board as well as a beta, lack of current hype and questions about the platform’s long-term viability don’t make it a clear winner for now. However, it could be something to keep an eye on if interest starts to grow. SpringRole receives a 5.5/10.

Investment Details

  • Type: ERC20 – Utility
  • Symbol: SPRING
  • Platform: Ethereum
  • Crowdsale: Presale ongoing, public sale TBA
  • Minimum Investment: 2 ETH (presale – public sale TBA)
  • Price:1 SPRING = .00002 ETH
  • Hard Cap: $12m
  • Payments Accepted: ETH
  • Restricted from Participating: USA/Canada (only accredited investors), Belarus, Central African Republic, China, Congo, Crimea (Ukraine), Cuba, Iran, Lebanon, Libya, North Korea, Somalia, South Korea, South Sudan, Sudan, Syria, Venezuela, Yemen, Zimbabwe, Balkans (Serbia, Albania, Bosnia, Herzegovina, Moldova, Croatia, Macedonia, Kosovo)

For More Information

 

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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