First review on 25 Oct 2018:
C1. An interesting project with a lot of potential.
C2. The official Telegram chat group created on 4 March 2018 and real activities started on 25 June 2018, over 9,000 members (as at 25 Oct 2018): https://t.me/indexcrypto
Some questions for the team:
Q1. Who are the shareholders of Cryptoindex Limited (CL)?
Q2. Who are the directors of CL?
Q3. To double confirm that these are not related to CL
(a) https://www.prestigebinaryoptions.com/cryptoindex-limited-review/
(b) https://www.valforex.com/2017/12/cryptoindex-review-is-it-the-worst-bitcoin-scam.html
Q4. What neural networks model(s) are used in Zorax?
Q5. Would appreciate if you can provide screen snapshots or videos relating to Zorax.
Q6. Who within the team is involved in the design of Zorax?
Q7. Who within the team is involved in the coding of Zorax?
Q8: What is your smart contract address?
Q9. There are several patented quant algorithms that are using AI, wonder if the team plans to apply for any patent protection for technologies relating to Zorax?
Q10: What is the token lockup/vesting period for the team members?
Q11: What is the token lockup/vesting period for the advisors?
Q12: What is the token lockup/vesting period for the institutional investors (if any)?
Q13: Who among your team members are in your Telegram community?
Q14: Who among your advisors are in your Telegram community?
Q15: What's your Github address?
Q16. What the competing Crypto indexes related projects out there and to do a comparison with them.
I will revise my ratings after receiving further responses to above questions.
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First speedy reply from the team member, Roman (ICO team member replied on 26 Oct 2018):
"Thanks for your feedback, Mr. Dr. Rex Yeap!
A1.1: We are following up with our shareholders to see if they would be willing to disclose this information.
A2.1: Please, check the Executive Team Details section of our WP https://cryptoindex.io/docs/CryptoindexWP1.0.pdf
A3.1: This is not our project, please check out one more time
A4.1: This question is described in details in Zorax section of our WP https://cryptoindex.io/docs/CryptoindexWP1.0.pdf
A5.1: This information is available at the MVP of the Cryptoindex Platform. Please, check www.cryptoindex.ai.
A6.1: You can find this information in Our team section of WP https://cryptoindex.io/docs/CryptoindexWP1.0.pdf and our official site https://cryptoindex.io
A7.1: You can find this information in Our team section of WP https://cryptoindex.io/docs/CryptoindexWP1.0.pdf and our official site https://cryptoindex.io
A8.1: At the moment our smart contact has not been deployed.
A9.1: Of course, our policy is that all our rights will be fully protected.
A10.1: Bonus tokens have 3 to 6 mos lockup.
A11.1: Bonus tokens have 3 to 6 mos lockup.
A12: None
A13: team members are in Telegram chat.
A14: All advisors are in our Telegram chat.
A15: Our Github address: https://github.com/cryptoindexAI. Cryptoindex is not an open source project. But you can review the code here: https://github.com/phenom-company/smartcontract-cryptoindex
A16: Some of the competing cryptocurrency indices are reviewed in this article: https://block-chain.com/news/cryptocurrency-indices-as-an-alternative-way-of-crypto-portfolio-diversification
If you have any question, I`ll be glad to answer for you. Waiting for your response!"
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Part 2 - on 26 Oct 2018 and 27 Oct 2018:
As the answers are incomplete, I've created a Google docs for this Q&A follow-up, pls continue the Q&A here: https://goo.gl/brHgQ7
Q17. Regarding A13, I wasn't able to verfiy the claim, and would now like you to replace the ? with the team member's Telegram ID:
o Vijay Andrew Angelo, CEO: ?
o Lawrence D'Souza, Head of Analytics: ?
o Alex Goncharenko, Product Manager: ?
o Gemma Clapton, Client Relations: ?
o Caroline Matusso, Head of Marketing and Communications: ?
o Simon Sergeev, Head of Support: ?
o Sergey Shashev, CTO: ?
o Andre-Pier Buzdum, Project Manager: ?
o Stephan Kamentsev, Software Architect: ?
o Lana Ivina, Senior Mathematician: @lana_out_of_the_blue
Q18. Regarding A14, I wasn't able to verfiy the claim, and would now like you to replace the ? with the advisor's Telegram ID:
o Austin Kimm, Co-Founder and Chief Operational Officer at Crypterium: @AustinKimm
o James Davies, Managing Member at London Derivatives Exchange: ?
o Paddy Tan, Strategist, Asian Market: ?
o Gabriel Zanko, Blockchain Investor and Advisor. MobileyourLife, Founder: ?
o Dorothy (McKinley) Delahunt, Chief Legal and Compliance Officer and Founder Member at London Derivatives Exchange Group: ?
o Sandy Broderick, IR Advisor: ?
Q19. I read that the system has been running for a few months (at the time of the whitepaper release). Let's have the cryptocurriences dataset from 1 Jan 2017 to 1st of the current month (suppose you reply on 5 Nov 2018, then last dataset date is 1 Nov 2018), would like the team to prepare a Google sheet showing
(a) The top 100 monthly cryptocurries that the system has chosen, and it's weightage
(b) Monthly performance metrics starting from July 2017, specifically: arithmetic mean, SD, skewness, kurtosis, Jensen's alpha, beta, Sharpe ratio, Sortiono ratio, Omega, maximum drawdown, information ratio and upside potential ratio.
Due to the new issues identified in C3 and C4, am now revising the ratings from T=4 V=4 P=2 to T=2 V=4 P=2 but will re-adjust again when more clarifications are provided.
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Part 3 - Updated review on 9 Nov 2018
For the past many days, I have been interacting with a group of 4 unknown individuals who are seemingly associated with Cryptoindex.
Other than two incomplete and important due diligence questions (Q8 and Q19) that I am still expecting answers to, the rest are addressed (varying degree of completeness)
Reference: https://goo.gl/brHgQ7
Ratings is now being adjusted from T=2 V=4 P=2 to T=3 V=4 P=2.5 (rounding P to 2 for now).
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One of the 4 unknown individuals complained to ICOBench and ICOBench wrote to me on 14 Nov 2018 and the content of the email is as follows:
From: ICObench <******@icobench.com>
Subject: A question regarding your rating
To: ********
Hello Dr. Yeap,
We have been contacted by Cryptoindex.io team who expressed their concerns about your rating for their project. The main issue is that you have shared their personal information in your review, and we will have to ask you to either remove that part or provide a link to the open source where this information can be located.
Best regards,
****** from ICObench
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Part 4 on 15 Nov 2018 - my reply to ICOBench
Dear ******,
At 11:20 PM 14/11/2018, ICObench wrote:
>We have been contacted by Cryptoindex.io team who expressed
>their concerns about your rating for their project.
I've been interacting with the team and have been as honest as I could. There are two remaining questions that are left unanswered.
Public Q&A with a team of unknown individuals who claimed to be part of Cryptoindex (but non appeared in the ICOBench Team/Advisor) is available here: https://goo.gl/brHgQ7
Private Q&A with the same team is available here: https://goo.gl/******
This team of 4 has requested that I keep certain information provided to me confidential and I have done that for the responses that I deemed to be confidential (you can compare the private Q&A and public Q&A accordingly).
>The main issue is that you have shared their personal information
>in your review, and we will have to ask you to either remove
>that part or provide a link to the open source where this
>information can be located.
Specifically, the person who contacted you is concerned with their Telegram ID of one of their team member (see my Q17 in their review) and their advisor (see Q18).
Q17: Lana Ivina, Senior Mathematician: @lana_out_of_the_blue
Q18: Austin Kimm, Co-Founder and Chief Operational Officer at Crypterium: @AustinKimm
Information are publicly available:
o Lana Ivina is listed within https://icobench.com/ico/cryptoindex/team
o Lana's Telegram ID can be found in the public TG group: https://t.me/indexcrypto, as of 25 Oct 2018, she posted 6 times in the group.
o Austin Kimm is listed within https://icobench.com/ico/cryptoindex/team
o Austin's Telegram ID can also be found in their public TG group: https://t.me/indexcrypto, as of 25 Oct 2018, he posted 1 time in the group.
Let me know if you would me to publish the full public discussion of "CryptoIndex.io - Official chat [@indexcrypto]" Telegram group from 04.03.2018 18:58:54 to 25.10.2018 14:35:28 (there are a total of 33,072 lines of content)
While this complaint is annoying, I will not penalise Cryptoindex by lowering their ratings because of the fact that this damage was done by one of the 4 unknown individuals (who are neither Cryptoindex core team members nor advisors) but I would suggest that these 4 unknown individuals not push their luck too far.
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