Cryptoindex

Chiefs are great domain experts and it seems they know what they doing - development team is offshore which can be improved.
Solid whitepaper but it's too long and explains lot of unnecessary theory which make me sleep! But concept explain great way!
Product is kind of DREAM - if this is possible to achieve what they promising then it's good and bad both...good for early adopters and bad for future as more people join the platform, market manipulation can happen in cycle as everyone will take action based on Zorax output!
I can't see this can go long way unless they start charging huge fees for the platform which then won't be decentralised!!!!
...but I still liked the concept and I see it has potential for early adopters if they can deliver what they promising.

I don't see enough expertise from the blockchain team yet. There is a risk after the fundraising not to implement the project. Pretty big cap as competitors for less money advanced. I don't believe in artificial intelligence for predicting currency prices. It doesn't work. From an investment point of view, it is not an attractive project for investment.

Token distribution is very beneficial for investors. 90% goes to the community. Very positive +

There is an MVP. Very positive +

Product idea is good. I think we need projects like this. Serious investors would like to invest in the first 100 cryptocurrencies like they do invest in stock index. I remember seeing other project with similar ideas but I might be wrong. Still, it’s a good idea if implemented nicely. Positive +

Both the team and advisors are experienced. Positive +

Website, promo video, and whitepaper designs are very cool. Whitepaper also includes detailed technical information. Some people think it’s not important but I think it’s an indicator of how serious the team is. Positive +

Hype is neither good nor bad. 7k on twitter and 11.5k on telegram is fine. Neutral +/-

Project has a very recently initiated roadmap. Negative -

Hard cap is $37 million. Like that is not enough, there is also another 20% overdrive option. I honestly don’t think this much would be necessary. Negative -

In overall, this would be one of the highest scores I have ever given. I advise you to decrease the hardcap to below $20 million, preferably to $15 million. If you do that, I would increase my score.

Good luck guys!

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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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).

Very few words to say as Dr. Rex Yeap has questioned most of the important points.
The concept is NOT new and everyone has been putting similar projects on the side due to the fact that the regulations side of it, it's still missing!
Where do you get the data for this index? Clearly you are not owning any data so far!
Do you really need 37 mil USD to create an index?
What is the concept of Zorax? How does it work?
Looking forward to hearing from you.

They say they are 70% above the bit coin, but the basis for their market analysis is ambiguous to me. If you are an ICO walker you will notice that you should no longer consider Bitcoin as a standard. The team seems to be excellent, but I think the team is small to run such a huge project.

Cryptoindex is coming with really great idea! Instead of creating new coin, they are creating index coin like NASDAQ has on stock market! Nice! That's why I gave 5 for vision. Team is also coming with high professionals and advisors! This is another 5 score from me. Lastly, jurisdiction for ICO is Malta which is one of the best for ICO projects.

There is a mistake on IcoBench as their team is way bigger, as seen on LinkedIn.
Aside from this, they do have an MVP and their vision can make a difference on the market. This project seems truly promising.
Good luck!

This is not an original vision, but it depends on how are they planning to implement it. The amount of money they need to raise is a bit ridiculous.
They do have a working MVP, but their team needs more members.