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ICO Analysis: Simple Token

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In the words of CEO Jason Goldberg, “Simple Token is a bridge between consumer apps and the crypto.” As we have written many times before, integrating blockchain in businesses and applications is not easy. This is one of the most widely discussed problems in the blockchain ecosystem and many companies are working on bringing traditional businesses on blockchain. Existing public blockchain networks are not equipped to support traditional businesses due to challenges like latency and scalability.

From my understanding, the solutions being offered can be categorized in three types, first is working with the existing blockchains by improving on and off-chain scalability (Plasma, Raiden) or via side-chains; second would be by supporting interchain operability like Cosmos; and third would be offering completely radical solutions like EOS. Along with the latency and scalability issues, it is very difficult for a business to “tokenize” itself due to the complex technology and regulations involved. Simple Token’s solution towards bridging businesses and blockchain involves tokenizing them with side-chains connected to the Ethereum Network.

According to the company, “Any app can launch branded tokens on open scalable side-chains powered by Simple Token, a protocol for consumer app tokenization and an ERC20 utility token.”

Simple Token will enable any business to issue their own branded tokens without the need of having an understanding of the underlying blockchain technology or making any changes to their business model. Simple Token has developed modules for token design, wallet integration, identity, governance, interoperability etc. It would be as easy as integrating Stripe or PayPal for accepting payments on a platform.

Developers need to first buy Simple Tokens and stake them on the Ethereum mainnet via smart contracts. Once the Simple Tokens are staked on Ethereum, corresponding branded tokens are released for the side chains. Ethereum is known as the value blockchain which holds valuable assets in the form of Simple Tokens, while the side-chains are known as utility blockchain which hold the branded tokens against the Simple Tokens held in the value chain. The developer has the freedom to design the branded token and then set an exchange rate vs Simple Tokens like 1 to 100 or 1 to 10,000. The technology allows branded token transactions on the utility chains to be processed quickly and efficiently at high volumes while only the settlements are recorded on the slower value chain. Any failure in the utility chain can be proven by any user on the value chain to recover the staked assets.

The team has provided a simple usecase of the product in a blog post,

Imagine a digital music service featuring independent artists issues a branded token called SongCoin. A new customer may get 25 free SongCoin to warm her up to the benefits of the platform, but which she cannot cash-out herself. She might then buy 100 SongCoin for $1 and then pay 1 SongCoin every time she streams a track. She could earn 5 SongCoin every time she writes a review that others appreciate. And she could support musicians she likes by buying tracks at 99 SongCoin each. The artist, in turn, could use the SongCoin he earned to get music from other bands. He could spend his SongCoin at a coffee shop that has issued its own Simple Token powered branded token. Or he could convert them into his home currency to pay the rent.

The Token

As discussed above, there are two types of tokens on the platform. Users of the platform need to buy the ERC-20 Simple Tokens in order to issue their own tokens. The customised user tokens are known as branded tokens. The branded tokens are designed in such a way that they cannot be traded on any secondary exchange and can only be used in the internal transactions of the applications. The branded tokens can however be exchanged with Simple Tokens which can then be converted to any ERC-20 token

The ICO begins on 14th November. Simple Tokens are valued at $0.0833 per token with a hardcap of $20M. The total token supply will be 800,000,000 tokens of which 30% are available for the ICO. The crowdraise has a proof of support system for the early access period. Users submitting proof of support will be able to participate on 14th with a bonus of 10%. Please visit here for more details on Proof of Support.

The founder and the advisors will keep 10% of the tokens. 27.2% of the tokens have been allocated for the accelerator program which basically will give free tokens for early platform adopters. This will help the platform scale in the early days.

The Team

A team led by serial entrepreneurs always scores well on credibility. CEO Jason Goldberg has 17+ years of experience in building internet applications. Fab.com could be his most successful venture which was once a unicorn. He has worked with CTO Nishith Shah in around 7 startups. While tokenizing one of their ventures, the founders realized the difficulty in integrating blockchain with traditional applications. This is how the idea of Simple Token was conceptualized. There are 6 core members in the team along with a development team of 20+ members based in Pune, India. One advantage of being a successful entrepreneur is the easy access to developers and domain experts. The founders have leveraged their connections by bringing in a 13 members strong advisory team. The advisors are not mentioned on the website so if you want to have a look at them please refer this link.

Verdict

Think of a regular app developer who wants to issue his own tokens for maybe a customer loyalty program. At present he will have to build his own blockchain infrastructure and issue tokens via the complex ICO process, which involves many regulatory headaches. The tokens can be used by businesses for a wide variety of functionalities like payments, rewards points, incentives for data and content contributions. Every platform which is scaling ethereum can be a competitor for Simple Token. There are two core selling points for Simple Token which might make the tokens very valuable. One is the ease with which existing businesses can issue their own tokens and second is the absence of legal and technological hassles while doing so.

Larger corporations who can afford blockchain developers and want more customization will prefer platforms like Cosmos , Comsa and connect to Ethereum using hubs and interchain protocols. Small application developers might integrate with blockchain via decentralized app stores like AppCoins where they can access a large common marketplace. Lisk which deploys businesses on sidechains using a simple javascript framework can also be considered a competitor. These factors shrink the targeted userbase considerably.

Risk

  • Although it may not be apparent in the first glance, Simple Token faces competition from some very credible projects as discussed above.
  • The founding team has in the past developed some very quality projects, but they have also shuffled across many of them.
  • Users/developers will have a to pay upfront fees to stake Simple Tokens and get their own branded ones which might be undesirable to some.

Growth Potential

  • There are many good things that can be said about the project. They have demonstrated a working prototype about staking of Simple Tokens on smart contract. The management team is credible and has good experience in developing quality businesses from ground up.
  • There are some very credible backers for the project. Tencent was an early investor. Gil Penchina, a very well known Silicon Valley investor (investor of PayPal, Filecoin, Ripple) has written a blog post on Medium supporting the project. Later he also became one of the advisors of Simple Token.
  • The platform adds immense value to existing businesses by introducing them to blockchain and token economy without the regulatory hassles. There are 7 more companies lined up to use Simple Token platform to issue their own tokens.

Disposition

We feel a score of +7 is appropriate for Simple Tokens. Considering the market cap that platforms like Lisk have scaled, there is a good potential for both short and longer term growth.

Investment Details

The ICO begins on 14th November. You can participate here.

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 16 rated postsAakash Kawale is a financial analyst based out of Mumbai, India. He is the lead analyst at a Singapore based organization and has extensive experience of analyzing US and Indian equities. Aakash is a strong advocate of the Blockchain technology and has been analyzing cryptocurrencies since 2015.




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ICO Analysis: Swace

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So, you are using Facebook, Snapchat or some other social network. Once in a while, you come across advertisements of your favorite brand, yet you do not feel like engaging with this text, picture or video. It is passive, non-customized to your digital identity. In most cases, you would prefer that these advertisements do not bother you at all.

Such cases are not rare, and this is easily provable by pointing out the high number of people who use ad blocking applications. Evidently, digital advertisement methods do not work that well and brands are not presented by low engagement solutions other than images, video posts, and contests. To improve digital advertisements’ ways and engagements with brands’ target audiences, some alternative methods have been proposed. One method which is recently gained high interest is rewarding users with some financial incentives for their engagement with advertisements.

Following this same spirit, Swace proposes a social gaming platform where users are rewarded for their digital engagement with brands. Aiming to make the user experience fun as much as possible, the team is planning to correlate the user’s experience with brand engagement relative to the “fun” he or she had, which should improve the brand’s position in the public’s eye.

But this is not all. If you wish not to participate in events sponsored by brands, you can just complete quests as well. Upon accepting to participate in a quest, a pre-determined number of tokens are removed from the user’s wallet and once he or she completes it, the player gets reward tokens. In some cases, they will be rewarded with virtual or real items as well. The platform allows any user to become an influencer as well.

But most importantly Swace introduces a fun, new and exciting way to take place in a new social platform. The planned introduction of augmented reality to the platform will enable the possibility of quests similar to Niantic’s Pokémon Go, which gained tremendous interest from people all over the world. Given the fact that young people like to experiment with new social platforms, Swace should see some serious attraction if the team plays their cards right.

Token

Swace users are rewarded with SWA tokens in return for their digital engagement with brands. These tokens will be used in marketplaces of Swace’s partners. As the team has signed contracts with at least seventeen international companies, we can safely say that the project has attracted high corporate interest so far.

Through the private pre-sale period, investors were offered bonuses between 30% and 60% which should be a concern for the ICO investor. Also, a hard cap of $23,000,000 seems too high for a project like this.

The initial total supply of SWA is 2,700,000,000 tokens with the following token distribution:

  1. 3% advisors and partners
  2. 7% bounty, airdrop, and test rewards
  3. 12% the team
  4. 23% community growth
  5. 55% the public

Any unsold token will be added to community growth budget after a lock-up period of one year. Founder and team tokens will be locked for two years.

The team is planning to use the token sale proceeds as follows.

  1. 5% unforeseen expenditure
  2. 11% legal
  3. 18% marketing and community growth
  4. 23% hr & corporate development
  5. 43% research and development

Team

Jean Claude Edorh: Edorh, a former athlete who participated in the 1996 Olympics in Atlanta and has founded JC Sport.

Paulius Kaminskas: Kaminskas is a senior software engineer at NFQ, a software development company located in Kaunas, Lithuania.

Advisors

Andrew Barros: Barros was a senior adviser at Perpetual Limited, a financial services company.

Alain Heureux: Heureux has worked at CPM UK, a sales agency, for three years.

Partners

Bancor Network: Bancor is a decentralized liquidity network.

Verdict

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

Risks

  • The existence of so many similar projects creates competition. (-1.5)
  • High bonuses offered to private pre-sale contributors. (-2.5)

Growth Potential

  • At least 17 international companies have signed contracts with Swace, implying high corporate interest in the project. (+2.5)
  • Rewarding users for their engagement with brands is a good and trending idea to increase brand awareness. (+2)
  • According to the roadmap, Google Play and App Store applications will be released before ICO. (+1.5)

Disposition

Standard digital advertising methods seem to fail to reach to brands’ target audiences. Rewarding users with tokens to increase brand awareness and user engagement has become a trending approach to solve these problems with digital advertising. Swace is a social gaming platform which rewards its users not only for digitally engaging with brands but also for completing daily quests and becoming an influencer. Many international companies have shown interest in the project, which is definitely a good sign. Yet the ICO investor should note that earlier stage investors have been offered high bonuses up to 60%. Swace receives a 2/10.

Investment Details

  • Type: ERC20 – Utility
  • Symbol: SWA
  • Platform: Ethereum
  • Crowdsale: Unspecified
  • Minimum Investment: $100
  • Price: $0.02
  • Hard Cap: $23,000,000
  • Payments Accepted: ETH
  • 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: HiNounou

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Studies conducted by the United Nations estimate that the number of people over 60 will be doubled by 2050 and it is reasonably expected that this will give rise to important social and economic changes. Yet it is at best arguable that the current ways of senior care and standard insurance policies are ready for such an impactful occurrence. The present approach of curing elders only after a medical condition occurs, not preventing them in the first place is another crucial problem for senior healthcare which is in need of an immediate solution. HiNounou takes this first step by proposing a solution based on artificial intelligence and healthcare technologies.

HiNounou provides three key products to increase seniors’ life quality and health at home:

  • The Home Wellness Kit: The kit contains a DNA genome testing kit, a senior-friendly smartphone, a blood pressure monitor, a fingertip oximeter and a connected scale. By using this kit, seniors’ health will be monitored and shared with acquaintances they choose in real time. This will give seniors a chance to identify and prevent diseases and medical conditions before it is too late while providing advice to improve their lifestyles. Insurance companies will have more accurate information on the person’s health which should enable them to build customized insurance policies. The team is currently also working on a Companion Robot.
  • Dedicated underwriting insurance and teleconsultation hotline: PingAn, a Chinese insurance company, will provide such insurance policies to seniors and AXA will have a consultation hotline available 24/7.
  • Nounou Tokens: Seniors will be incentivized to improve their health and life quality by token rewards.

Although the project already has tangible products such as the Home Wellness Kit with many items, since the target audience is seniors and their acquaintances, the non-speculative demand should not be expected to soar. The ICO investor should note also that platforms with non-stable reward tokens historically tend not to yield a high return on investment, though the project seems both in goals and the structure quite similar to WaBi, a project which provided over a hundred times profit at it’s all times high.

Token

Nounou tokens will be used to reward seniors who improve their lifestyle and health, tracked by several tools such as the Home Wellness Kit. These points can be redeemed with their partners’ marketplaces including but not restricted to AXA and WaBi.

The initial total supply of Nounou tokens is 200,000,000 tokens with the following token distribution:

  1. 60% token sale
  2. 20% consumer marketing
  3. 10% company reserve
  4. 10% team

No information is made public on how the team is planning to use the token sale proceeds as of September 22nd.

Team

CEO Charles Bark: Bark has been working on IoT Robotics for more than five years, aiming to improve elderly care. He is also a Ph.D. candidate at Université de Technologie de Belfort-Montbéliard.

Advisors

Frank Desvignes: Desvignes is the founder and the CEO of AXA Lab Asia, an insurance company.

Laetitia Daufenbach: Daufenbach has been working at Sodexo since 2006 and is the current head of strategic planning and projects at Global Seniors division.

Alexander Busarov: Prior to co-founding WaLiMai and then WaBi, Busarov was a consultant at McKinsey & Company.

Yaroslav Belinskiy: Belinskiy is the co-founder at WaLiMai and WaBi.

Anne Queneday: Queneday is a partner at Baker McKenzie China, a multinational law firm.

Partners

AXA: AXA, one of the world’s biggest insurance companies, enables seniors to have a hotline and teleconsultation service they can reach whenever they would like to.

PingAn: Thanks to the partnership with PingAn, seniors using HiNounou will have access to dedicated, no underwriting insurances.

Verdict

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

Risks

  • Projects with non-stable reward tokens historically tend not to yield good returns on investment. (-1.5)
  • Although the team is looking to expand its reach in the near future, at the moment the project is available only in a few countries and the target audience is quite narrow. (-2.5)

Growth Potential

  • Thanks to its great advisors and partnerships, it should not be hard to break into the Chinese market. (+4)
  • Tangible products such as Home Wellness Kits are already available. (+4)

Disposition

As the senior population is expected to double by 2050, senior health care and insurance will get more and more important in the future.By proposing three key products which of that Home Wellness Kits are the most crucial, HiNounou aims to monitor and improve seniors’ health and lifestyle while incentivizing them with token rewards. The project has made quite good progress as these products already have hit the market and the non-speculative target audience, specifically seniors and their acquaintances, is extremely narrow. This usually implies a low buying pressure, yet the potential investor should note that partnerships with WaBi, AXA, and PingAn should make it easy to break into the Chinese market and the team is already looking to expand its reach. HiNounou receives a 4/10.

Investment Details

  • Type: ERC20 – Utility
  • Symbol: Unspecified
  • Platform: Ethereum
  • Crowdsale: Unspecified
  • Minimum Investment: Unspecified
  • Price: $0.10
  • Hard Cap: $10,000,000
  • Payments Accepted: ETH, BTC
  • Restricted from Participating: China, United States

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: Magnachain

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It has become more and more apparent that mainstream blockchains cannot meet crowds’ demands as their average transaction speed per unit time is truly low. Currently, neither of the biggest two blockchains, namely Bitcoin and Ethereum, are able to process more than twenty transactions per second on average. In order to make higher transaction speeds possible, a horde of blockchain projects have emerged, aiming to fix cryptocurrencies’ perhaps most important problem.

MagnaChain is a public blockchain written from scratch which aims to reach 100,000 transactions per second by the end of 2018. As of September 22nd, the website states that the latest test-net result is 13,313 transactions/second which is truly impressive. Yet the absence of a GitHub page is truly concerning as investors have no chance to directly verify this claim. On the other hand, it should be noted that according to the roadmap the project will become open-source in the third quarter of 2018, possibly before the token sale takes place.

The most crucial element of the MagnaChain blockchain is arguably a consensus protocol called VH-PoS. Thanks to VH-PoS mining will become much easier, fairer and cheaper, solving Bitcoin’s and Ethereum’s problem of high energy consumption which is required to run the network. This enables the blockchain to have sidechains as well, which help increase transaction speeds. It should be noted also that developers will be able to use Lua, a popular programming language.

If the team is able to meet their deadlines, 2018 should be a truly a good year for MagnaChain as the main-net is planned to be launched with 100,000 TPS before the year ends. Yet the lack of an extended plan for the following years might create selling pressure.

As the team is highly experienced in game development since many team members have worked for the world’s biggest video game companies such as 2K Games, Codemasters, and Electronic Arts, MagnaChain will primarily focus on the video game industry. The use of sidechains creates an opportunity to game developers to use MGC tokens in games they have developed. Yet this is not to say that it is not possible to implement the proposed solutions to other businesses as well.

Token

MGC tokens will be used to process transactions taking place in the network. In return for their effort to validate these transactions, miners will be rewarded by these tokens. It will be possible for dApp developers to use MGC tokens for facilitating in-game transactions. So, we can say that MGC is quite akin to “gas” as in Ethereum.

No more than a total of 4 billion MGC tokens will be ever minted. 1.2 billion tokens will be minted as mining rewards in the future and 2.6 billion tokens will be pre-mined to be distributed after the sale.

The total pre-mined supply of MGC is 2,600,000,000 tokens with the following token distribution:

  • 15% marketing
  • 30% token sale
  • 20% reserves
  • 20% team and advisors
  • 15% developer/incentive programs

Any unsold token will be burned. 25% of tokens allocated to the team will be released every six months. One-fifth of tokens allocated to advisors will not be locked up and one-fifth will be released every four and half months.

The team is planning to use the token sale proceeds as follows.

  • 39% research & development
  • 39% developer funds & incentives
  • 8% overhead & general admin
  • 8% brand marketing
  • 6% legal & professional

Team

CEO Hal Bame: Bame held several management positions at reputable video games companies such as Codemasters and Sony Computer Entertainment.

CMO Peiji Guo: Guo has worked as a senior manager at Blizzard and 2K Games.

Nizam Ismail: Ismail was the head of compliance at Morgan Stanley and Lehman Brothers.

Kejun Zheng: Zheng, a senior software architect at MagnaChain, has worked for Accenture China and Amdocs.

Advisors

Alex Nagayama: Nagayama has worked for Canon, Apple, Electronic Arts, and Activision.

Partners

Unreal Engine 4: Unreal Engine 4 is a collection of tools for game developers. The integration of MagnaChain toolset will enable game developers to use blockchain game development solutions.

Investors

Draper Dragon: A renowned venture capital company.

Verdict

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

Risks

  • The absence of a GitHub page is an important concern for the skeptic ICO investor. (-2)
  • The competition with many blockchain projects aiming to have high throughput. (-2)
  • Token metrics for the public sale is not released as of September 22nd, making it hard to evaluate any potential return on investment at the moment. (-1)

Growth Potential

  • The team highly experiences in game development. (+3)
  • The latest test-run result is over 13,000 transactions per second. (+2)
  • Many important milestones just after the sale ends should create high buying pressure. (+3)

Disposition

Low transaction speeds are one of the most crucial problems which Bitcoin and Ethereum face at the moment and so many blockchain projects are taking a shot to solve this problem. By the use of a consensus protocol named VH-Pos and sidechains, MagnaChain is aiming to increase a TPS over 13,000 as the latest test-net results show to 100,000 by the end of the year. As many team members have obtained immense experience in the video game industry prior to joining MagnaChain, the first application for the project is decided to be game development. The presence of so many projects with similar goals might be a concern for the ICO investor, yet this great team and the existence of a test-net released prior to the token sale is a definitive good sign for any return on investment. Still, the skeptic investor should note that as of the time of writing no GitHub link is made public, which makes it hard to verify TPS claims. MagnaChain receives a 3/10.

Investment Details

  • Type: ERC20 – Utility
  • Symbol: MGC
  • Platform: Ethereum
  • Crowdsale: Unspecified
  • Minimum Investment: Unspecified
  • Price: Unspecified
  • Hard Cap: $20,000,000
  • Payments Accepted: Ethereum
  • 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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