ICO Analysis: Pantos

It is looking more and more like the future will be filled with numerous separate blockchains serving several purposes. In order to speed up adoption and scaling these blockchain projects, currencies and communities will need to have a way of collaborating with each other in a standardized way. That is what the team from Bitpanda wants to provide with their new technology project Pantos.

Pantos is the first multi-blockchain token system that allows for a seamless cross-chain token transfer. It is an open-source, open-innovation driven research project that ultimately wants to become completely decentralized and owned by the community.

Pantos will provide channels for both communication and cross-chain exchanges of data and value. This will break down current barriers to partnership and collaboration between developers and institutions. This will speed up innovation and allow blockchains to scale and mature together.

Bitpanda is the European version of Coinbase, only with more features. They have over 60 team members on the payroll and keep adding more talent to help bring their vision of a multi-blockchain token system to life.

The Pantos project will work with scientists from TU of Vienna, the Austrian Academy of Sciences and the Vienna based Research Institute for Future Cryptoeconomics (RIAT). They will develop the Token Atomic Swap Technology (TAST) and release the developed work as an open-source technology, which will serve as a key technology in a tokenized world. The key feature of Pantos will be that it will allow for seamless cross-chain token transfers. This means that users can simply select a target blockchain to migrate their PAN token to and therefore have future-security regardless of technological change.

“We want to bring influential blockchain projects together, improve communication between developers, researchers and users, and set standards for on-chain tokens. Through open collaboration with these diverse stakeholders,we can determine best practice regarding issuance and exchange of PAN tokens on every blockchain” (pantos vision statement)

Token Atomic Swap Technology (TAST)

Atomic swaps allow for the instant exchange of cryptocurrencies between two parties on two different blockchains, peer-to-peer, at previously agreed terms and without the need for third parties to oversee or facilitate the transaction. This technology enables instant transfers between multiple cryptocurrencies in a completely trustless manner and with zero counterparty risk.

TAST will be a revolutionary way of swapping. Current swaps work with asset A swapping in a  decentralized way for asset B on a different chain, for example, Litecoin to Ethereum. TAST aims to do an Atomic Swap for the SAME asset. For example, transferring a PAN token from Ethereum to a PAN token on Lisk using the TAST protocol.

Token

The PAN token will be the vehicle by which tokens can seamlessly transfer across multiple blockchains.

The ultimate goal of the Pantos project is complete decentralization and community ownership. They will accomplish this in three phases.

Phase 1: Allow PAN token to shift between multiple blockchains via the Bitpanda platform.

Phase 2: A public API facilitating automatic shifting of PAN between blockchains.

Phase 3: Utilizing atomic swaps, Lightning Networks and smart contract technologies to completely decentralize PAN trading.

The public sale ends Apr. 18. However, there is no private or presale. One price for everyone!

The hreakdown is as follows:

  • 40% crowd sale
  • 40% retained reserve
  • 10% Team
  • 9%, bounties
  • 1% airdrop

In order to participate in the ICO you must do it through https://www.bitpanda.com

Airdrop: 1% (10 million) PAN will be distributed evenly to all bitpanda account holders regardless of how much btc you possess. You must claim your airdrop by April 18th.

Team

The Vienna based team of 60 have already proven to be big league. Now they have added way more brains to the team by partnering with several top tech universities and researchers in Vienna to create TAST.

Their Advisors and strategic/legal partners are rock solid as well.  Have a look at the full squad here: https://pantos.io/

Verdict

Technology like Pantos is in high demand, which is why the competition is so thick.

Pantos could very well have the secret sauce with their open sourced scientific research project, TAST. TAST will enable and create innovations that don’t exist yet in the blockchain community such as; cross chain token transfers (not swaps), same asset transfers, real-time arbitrage, and a “Blockchain Domination Index” to measure PAN distribution among blockchains.

Risks

  • Atomic swap technology is not exactly easy to build. The success stories are lacking. “In 2017, developers from Decred created the first functioning cryptocurrency atomic swap between Decred (DCR) and Litecoin (LTC). Meanwhile, altcoin.io carried out the world’s first atomic swap between the Ethereum and Bitcoin blockchains, and Litecoin Founder Charlie Lee, announced on Twitter the successful on-chain atomic swap of 1 LTC for 55 VTC with James Lovejoy, Lead Developer of Vertcoin.”Pantos is trying to do even more difficult things. Things no human have ever done That’s risky. -1
  • How does the project make money? Apparently, the cross chain token transfers will be free. And eventually the entire thing will be decentralized and community owned. Perhaps there is a simple answer to this question. One hopes the only way to make money isn’t through selling PAN reserves. -1
  • “400,000,000 PAN are reserved for optimal future fundraising but will never be offered for sale below ICO price in BTC terms.” This means 40% of the total supply will be pumped into the economy sometime in the future. That is going to seriously dilute the value per token. -1
  • Competition: there are several cross-chain projects already in the space (WAN, ARK, ICON, FUSION) to name a few. All these projects are developing unique ways to cross-chain. It’s very hard to predict how this will all turn out, but the competition is certainly fierce. -0.5
  • This ICO is only available for most customers in the EU including Switzerland, Norway and Croatia. This is worrisome. How are they going to become the king of multi-blockchain systems when most the world won’t know about their project? -1

Growth Potential

  • If the TAST  proves to be the real deal, this technology will be in high demand. The arbitrage feature alone is a game changer.+2 
  • “Pantos’ portability feature allows PAN to become the first universal denominator token. This will allow for the introduction of a new crypto economic metric: a Blockchain Dominance Index, which will show real-time token usage and distribution among blockchains and, thus, can measure each blockchain‘s significance for PAN. Moreover, when users successfully adopt PAN, its flow between blockchain projects could provide a reliable metric that captures public confidence in a given project’s vitality, opening up a pathway toward predictive analytics in cryptocurrency valuation, and in the valuation of the crypto ecosystem as a whole.” +1
  • They already have some real solid partnerships; Lisk, Komodo, Waves are close collaborators. Soon these blockchains will get PAN-support. As they grow, they plan on further collaborations with many other blockchains. +3
  • According to their token agreement, all unsold tokens will be proportionately distributed to ICO contributors. So far they have only raised about 35% of their hardcap. There are only a few more days left in the sale, this could mean bonus tokens for everyone. +2
  • The Real-Time Cross Blockchain Arbitrage System will be a groundbreaker. Using the PAN token traders will be able to exploit emerging price differences between pairs. This seems like the most promising aspect of Pantos. Its very complicated to break down, learn more about the system here. +2.5

Disposition

This is a very impressive project, with few weaknesses. We arrive at 6/10 

Investment Details

  • Platform: Ethereum
  • Symbol: PAN
  • Total Supply: 1 billion
  • Total for Sale: 400,000
  • Price: Same flat rate for everyone. The tokens/eth ratio will be determined after the sale. unsold tokens will be distributed among contributors
  • Jurisdictions Barred from Participating: Non-EU countries
  • Airdrop: Ends April 18th 2018, 12:00 CET (UTC+1
  • Crowdale: March 24-April 18th 2018, 12:00 CET: https://pantos.io/

Whitepaper:         https://pantos.io/pdf/pantos-visionpaper.pdf

*For token purchase and airdrop you must sign up for a Pitpanda account here.https://www.bitpanda.com/

Featured image courtesy of Shutterstock. 

Author:
Joshua 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!