Rated on May 2, 2019
Modified on May 6, 2019
→ Blockchain Advantage - ✅❤️
→ White Paper - ⛔️
→ Team Composition - ✅
→ Token Economics - ⛔️
→ Business Model - ✅
→ Social Media Presence - ✅
→ Collaborations & partnerships - ✅
→ Fund Allocation - ✅
→ Legal Loopholes - ⛔️
→ MVP/ DApp/ Working Product - ⛔️ (Link not working)
Advantage - Realistic Soft Cap and Hard Cap, with clear cut use case. A strong team (KYC incomplete) which has focused on the one of the hottest trends (Gaming) for market adoption. Strong social media presence.
Disadvantage - The WP is fraught with grammatical errors, (eg see Pg 27) and it lacks complete details for investors. Benefits of HODLing if any? The token usage is clear but ROI for investment isn’t! Since exchange has Zero trading fees, how does the team propose to cover running costs? Moreover KYC+AML partners for exchange and mode of expansion is lacking a bit as well!
You can find my ratings methodology here- https://medium.com/@krishnenduchatterjee/ico-evaluation-investing-a-vc-perspective-for-investment-over-greedy-short-term-returns-433f6f9e13d8
I am updating the rating based on KYC passed and additional info like utility of the token. The token is used for membership fees to cover costs. So, although they have zero fee, they have a membership fee, which is sensible!
Rated on Apr 30, 2019
Team : strong developer team and backed by expert and experienced guys.
Vision: Quite interesting as this is a new generation of exchange platform that brings more features and incentives (fees, airdrop...) for the investors.
Product : MVP is delivered and need to meet the promise.
Rated on May 3, 2019
xCrypt is yet another project which is trying to set up a Crypto exchange. It proposes to develop an exchange where investors can trade Utility Tokens, Security Tokens and Non-Fungible Tokens.
Team - Based on the review of the team credentials in the whitepaper and social
media it appears that they do not have any significant experience in running a crypto exchange business. Some of the team members seem to be working on the project only on part time basis as can be evidenced from multiple positions held on LinkedIn profile. Other interesting thing is that the number of advisors listed exceed the total number of team members. Not sure how much value is added by having so many advisors and what value add each individual advisor is providing to the project.
Vision – The use of blockchain technology to seems to be at the core of the business. But don’t see them adding a lot of value to already crowded crypto exchange space.
Product - It appears that the project is currently at MVP Stage. However, there is no access provided to a demo of the platform.
Overall the concept of the project is nothing new to the crypto industry. Crypto exchange space is already very crowded with number of exchanges far exceeding the number of projects. Existing exchanges themselves are finding it very difficult to stay afloat, so starting a new exchange from scratch and building a sizable user base is a herculean task. I would not invest in an exchange which is still at conceptual stage and doesn’t have any user base or regulatory license. Crypto exchange business is a natural monopoly which benefits from the economies of scale and network effects. In the long term only a handful of players would be able to survive. I would wait this one out and give this IEO a pass.
Disclaimer: Above is my personal opinion and not an investment recommendation. Please do your own research and take independent financial advice before making any decision
You can find my rating methodology here. https://medium.com/@niravgala/nirav-galas-ico-bench-rating-methodology-c7186a354c9e
- Whitepaper Updated (token economics , Legal , Regulation, Product, )
- Exchange Release v1 Ready
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.
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