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Ratings Borneo

Borneo First

Within the Borneo Ecosystem, the fundamental of BMG token is essential for achieving Borneo First missions of unleashing the true potentials of Borneo Island through building Borneo First global economic and social platform (Borneo First Platform). It is the BMG token that powers the entire platforms, and without it the Borneo Ecosystem cannot function. In the beginning, Borneo First will develop 5 (five) BMG token dynamics to ensure the liquidity, continuous supply and demand of Borneo token.

3.2
4 3 expert ratings
Benchy 3.8
KYC
Experts
2.0
4.0
1.3
Review: coming soon PRO
Ended
Token
BMG
Type
Price in ICO
0.0700 USD
Country
Whitelist/KYC
KYC & Whitelist
Restricted areas
USA
preICO start
1st May 2018
preICO end
30th Jun 2018
ICO start
17th Aug 2018
ICO end
17th Nov 2018
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Ratings

All ratings published on ICObench serve informational purposes only. ICObench does not provide investment forecast, recommendations or any consulting for that matter. Thus, neither ICObench, nor the experts can be hold responsible for the visitors’ investment decisions. Read more
Krishnendu Chatterjee Ph.D.
Blockchain | Tokenization Strategist| Whitepaper|Tokenomics | BD| Fundraising
Rated on Sep 3, 2018
2
4
1
19%

White paper - The white paper is complicated as it focuses on many issues the ICO wants to address. The token resembling an equity token has some pros including 80% profit sharing with investors and only 3% for founders. But, this is where the problem lies as well…. The low founder share along with high payouts and high ROI makes the ICO, a recipe for disaster in future. The investors simply doesn’t have any idea about how this could work in the long run, which makes it a big risk for investors.

Team - The team composition is credible but not something which gives a lot of confidence. They need a lot more on the team than they currently have to pull this project through.

Tokenomics - The token deployment is easy to understand and the fund deployment is alsi within reasonable limits.

Business Model - But having only 20% as operating cost and with a 3% team share of the total tokens make the business model weak. This simply isn’t enough for the ICO to be successful as in the long run the costs would be higher than the income unless the investors believe that crypto price will skyrocket (Which could still happen but not something of a surety). Simply put - The business model is not clear and more planning is necessary to improve it.

MVP/ DApp/ Working Product  - No MVP/ Working Product; makes this project very risky to invest in.

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0
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Rennie Sng
CEO-Founder of Crypto Valley Singapore
Rated on Oct 2, 2018
Modified on Oct 16, 2018
1
4
1
13%

Firstly, I love the CSR vision and I truly believe that every ICO should incorporate a giving element into their projects. Secondly, the Advisors have good track record and expertise in all the proposed projects and, I believe they will help build a wonderful ecosystem for Borneo, especially commerce and tourism. However, as Borneo is the "Lung of the World", I would like to see more international advisors to make the team more robust and inclusive. This is a truly global project, a more active telegram group may be able to help your project to reach out to the rest of the world. Thirdly, congratulations on hitting 98% of your softcap and listing on the exchange! A MVP and more contribution to Github will bring up my score for your Product rating. Best of luck to raise more awareness of our environment!

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0
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Gaurav Areng Chakraverti
Entrepreneur, Marketing Advisor, ICO Advisor
Rated on Jul 13, 2018
3
4
2
12%

First off, love the thought behind this. It's great seeing more projects like this aimed at something more than just monetary gain. Great going!

However, ah, where to start?

The cap disparity is way too high! It just doesn't make sense.
The team is going to require A LOT MORE people who are experienced enough to be able to deploy a facility for any kind of mining, including crypto mining, to a point that it proves a valuable investment - therefore return on investment.
Doing so many things with regards to being an equity token, I would have liked seeing a different standard. Even an ERC223 at this point would have been slightly better.
Being an equity token, I HATE the fact that you're doing an airdrop. Just...don't! You have time, I suggest removing it. It will completely dilute value and no one is going to legitimately invest in the vision of the project.
Also, I understand the passion behind this of course, but it would be nice to plot a trajectory for how revenue is actually going to be used to benefit Borneo itself.

Good luck, though! I truly hope you succeed.

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-3
-3Disagree
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Benchy
ICO analyzer bot
3.8
56%

Experts are independently and voluntarily contributing to the community. If no expert has rated the ICO, only ICO analyzer's results are used. Always research before investing as these ratings should not be taken as an investing guide of any kind.

Ratings and ICO analyzer results are being updated (re-calculated) every few hours.

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ICO KYC Report
2 members invited
Agus Arbyana
Passed
Arnold Siboro
Passed
KYC procedure verifies selected/specific team members only. It does not guarantee ICO success nor is a call for investment.
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