Rated on Jul 25, 2018
"First and foremost, is the extensive array of IDAP product offerings that include but are not limited to, crypto based outright futures, calendar spreads, butterfly spreads, American options, perpetual swaps, crypto indices and ETFs, that enable traders to hedge, speculate and invest, opening up a new realm of market possibilities."
By when, this platform will be completed according to the above tools?
Rated on Jun 14, 2018
Modified on Dec 5, 2018
The product description in the whitepaper is quite thorough and interesting. But the biggest concern is that there are major player already in this field related with the largest crypto exchanges (mainly Chinese and the US) and so on. So it is absolutely not enough to give just a small table about the project's commissions in 1 page of business planning chapter of the WP. You need to describe how and by what means you will grow and compete. The team looks too localised.
Rated on Aug 17, 2018
Modified on Sep 28, 2018
Good team and interesting product. However, no ICO date yet for public sale.
This is not financial advice or a recommendation to invest in this or any other ICO. Investors must perform their own due diligence and not rely on external ratings to make their final investment decisions. ICOs are risky and 100% loss of capital is possible.
Rated on Oct 30, 2018
The team of advisors greatly exceeds the number of the actual team which has only 8 members. I would greatly recommend you to enhance your team for the success of the project.
The MVP is made of videos and I am a bit unsure about MVP - videos, where I cannot test myself the functionality and so on.
The vision is good. Good luck!
Rated on Aug 20, 2018
The white paper is well organized and the team is also high level.
A lot of functions will be implemented for investors and customer service will be enhanced.
The key to how far this function is implemented is likely to be the key.
MVP is still in video display. I really want to try it with my own hands. Once that is realized, I will improve the evaluation.
TOKEN TYPE is "WRC 20" on the page, "ERC 20" in the white paper. Which one?
Rated on Jul 16, 2018
Team - good experience in core team and specialist advisors with expertise to cover most areas.
Vision - good idea, very difficult to execute. With MiFID II incoming and further investor protections, I would have expected to see more consideration of KYC to make sure the clients of the platform hold the requisite experience and expertise to trade the products they're developing. Should the project get this element wrong, they could be looking at massive fines and/or jail time. In my opinion, I would redraft the WP to show further info on how they will manage this risk, otherwise it appears they are committing the regulatory equivalent of taking a knife to a gun fight.
Furthermore, the weightings for their ETF products aren't clear. They state 'balanced by market capitalisation' but is this limited to a top out percentage or free to copy market cap exactly? Such details are important as they make the attractiveness of such products different depending on the balancing type and the balancing period.
Product - Good idea as further derivatives will help to push the Crypto market forward, but there is not enough info about the some of the sub-products to give a high score here, especially when twinned with no MVP available on the website.
Rated on Jul 26, 2018
Good project with nice potential on this market. It is coming with good team and advisors as well. It will be great to watch it during launch of the product
Rated on Aug 21, 2018
Modified on Aug 21, 2018
idap.io intents to provide users complete access to cryptocurrency derivatives i.e. Futures, Swaps, and Options. The platform will incorporate its own trading platform and marketplace. along with margin lending, crypto indices derivatives, and perpetual swaps. IDAP tokens are utility tokens used to pay transaction fees in the idap ecosystem.
The whitepaper is comprehensive and discuss features of the platform. The problem statement is briefly discussed. Though I am of opinion that it lacks at technical aspects. The business model and token economics are explained succinctly. Github page is mentioned which contains repositories for token smart contracts and the whitelist. Legal content is available, through in brief. Whitepaper is well written and thorough.
The current stage of development of the platform is not clear. And there are only video demonstrations of the product available on website. The company GitHub page doesn’t reflect any development on side of product and it only contains token smart contracts and the whitelist.
The revenue stream of business model, as per whitepaper, primarily consists of receiving commission as income from trading and as management fees. Token economics are outlined specifically. Though business model falls short when it comes to listing key elements.
It is also stated that 20% of all tokens received from platform fees will be burned until the total token supply is halved from 1 billion to 500 million IDAP. Token allocation is presented with moderate levels of detail.
Why Blockchain? There is a lack of technical discussion. No concrete para can be found on technical aspects of the platform and use of blockchain. For example, it is stated that the “exchange platform will be hosted on high availability IT infrastructure, thus, enabling fault-tolerant architecture with guaranteed 99.995 percent uptime”. The exchange platform architecture is not discussed in depth. The exchange itself does not seem to utilize blockchain technology. The platform does not provide innovation from a blockchain technology perspective.
Legally, they have provided sufficient information and have uploaded licenses obtained for crypto-fiat and crypto wallet from appropriate authority, Government of Estonia.
The roadmap is presented on the company website is in tandem with the present time. There is a sufficient amount of business and technology focused milestones which align with the written content (regarding the development plan) that is in the whitepaper. I have found it simple, clear and sufficient.
The platform is targeted towards traders and investors, as customer base, that would like to enter cryptocurrency markets specifically for derivatives. Which is a USP of business and a potential market segment. Though the whitepaper lacks competitive analysis with existing players and market assessment. It doesn’t mention sufficiently about market stats. A SWOT analysis may have helped. Also the whitepaper is silent about business being specific to any targeted market, jurisdiction wise, which per se needs clarity.
There are several blockchain-focused projects which are direct competitors like VariabL, BBOD, Fortuna, WandX, Leverj, Close Cross, EverMarkets, Digitex, Globitex, Betex, Lucid Exchange, QUEDEX and more.
According to the company LinkedIn profile, the organization is founded lately in 2018 and is a privately held company located at Tallinn, Harju County. It is stated in the whitepaper that IDAP will begin operations in the European Union. Nothing has been stated about funding, if in case, in the whitepaper and website.
The main team consists of professionals is mentioned over website along with good list of advisors. The team is technologically very sound and hail from premiere institutes of country. I have found team sufficiently experienced and capable of execution. Prior experience of team members and experts is aligned to nature of project. Though I have founded few blockchain developers and team is skewed towards finance and business management.
Notable partnerships with investing.com, Stigasoft, GetSmart,3Apples, are visible on company website.
Idap.io has significant presence in Indian market as team hail from India. Though they may not take significant advantages of same due to regulatory barrier and framework in country. Cryptocurrency market, especially derivatives, has great business potential and team seems to be pulling it right till date. Team has adequate experience and expertise to execute as planned. Whitepaper is comprehensive, clear but lacks on technological side. Also I have found nothing about financial projections on business side, in whitepaper. In my opinion, every business should present, separately, a financial paper that helps investors understand how much and when they should expect ROI and not be dependent upon exchange listing solely. Use of blockchain in whole business model is dim but crypto trading businesses, in my opinion, cannot be compared explicitly to tech businesses. All the best to team.
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