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Analysis Of ICO Projects From Tokenbox

Published 09/05/2018, 07:25 AM
Updated 07/09/2023, 06:31 AM

1. Terra (Korea)

Terra is a project that implements a cryptocurrency with a stable exchange rate (stable coin). The platform can be used as an economic digital payment system comparable to credit cards. Developers quote the list of advantages compared to the Visa (NYSE:V) payment system: low commissions, bonuses, and discounts when paying for goods in Terra currency.

During private rounds, the US-Korean project team managed to raise $32 million. Among investors, in addition to the top exchange Binance, the well-known Polychain Capital fund was noticed to make an investment, along with investing into all the top ICOs in 2017.

In total, the project plans to raise $100 mln (HardCap), while retaining 90% of the investment in the reserve fund. Terra, like Tether, will start its way with fiat, but the company's further plans are somewhat different. After the currency has gathered a wide array of customers, each transaction will generate money for the second cryptocurrency (second reserve fund). When the second fund equals the first, where dollars are stored, the coin will split from the dollar and go into free sailing.

The Terra protocol uses two tokens: Terra and Luna. Luna Tokens will be some kind of an initial reserve, which will help stabilize the price of the coin relative to the hardware, as Tether does now, for example. Another token, Terra, will function as a daily payment tool.

Every time there is a transaction on the network, a small commission will be paid to the Luna holders. As in other projects of stable tokens, oracles of the network will control supply and demand. As demand for Terra grows, the system will algorithmically release new tokens.

The main stage of the ICO and the cost of the tokens: TBA.

It is likely that there will be no public ICO for Terra, but funds can enter the project now since until the stated goal of $100 million is reached there is still space.

In addition to Binance, Huobi and OKex have invested in the company, therefore, Terra's liquidity and trading pairs will be plentiful. Terra is launched with the participation of a significant number of partners, whose total number of clients reaches 40 million people. Among the partners: Woowa Brothers, Qoo10, Carousell, Pomelo, and TIKI, etc. The creators of Terra also expect to make themselves known in the Chinese market and get support from WeChat and Alibaba (NYSE:BABA) Group.

The team of the Terra project is headed by Daniel Shin (founder of TicketMonster, the leading Korean e-commerce platform with a $3.5mln turnover, the most recognizable entrepreneur and investor in East Korea) and Do Kwon (the founder of Anyfi, a former developer at Microsoft (NASDAQ:MSFT) and Apple (NASDAQ:AAPL)).

In spite of the fact that many "stablecoins" are being created, the emergence of this project is especially important, since the team is developing one of the few protocols that have an existing, working and strong strategy of how to use and enter the market. With the support of the user base of large companies in the e-commerce segment, the project looks very decent.

The main problem with Terra on the way to successful implementation of the project is users' distrust of the fact that the coin is really stable and its value is reliably attached to the dollar or other fiat currency. The recommendation of the analytical department of Tokenbox is to consider investing in the long term. Evaluation of the project Terra: 7/10.

2. Ankr (USA)

Ankr Network is an infrastructure that allows you to perform distributed cloud computing (DCC) for business applications and has the potential of becoming the flagship of the decentralization of the cloud market.

The project differs from the existing solutions because of three significant advantages - scalability, a fundamentally new type of consensus and support for Intel (NASDAQ:INTC) SGX.

High bandwidth will be achieved through sharding (fragmentation of transactions into small parts). The consensus ProofofUsefulWork proposed by the developers favorably differs from the consensus of Bitcoin or Ethereum in that it rewards each user doing the work, not just the one who gets the unit first.

Mining and calculations, instead of using Asic miners, are supposed to be conducted using SGX - a new technology from Intel that divides data into protected enclaves (execution areas), which exponentially increases the security of the information stored in Ankr. The creators of the project intend to offer an alternative to services from Microsoft and Amazon (NASDAQ:AMZN), creating its own decentralized distributed platform. In addition, the main competitors in this segment - SONM, Decent, Storj - did not show proper results after their ICOs.

At the closed seed round the project collected $14.5 million, leaving less than 5% of all tokens ($3.3 million) for the main sale. The price of 1 ANKR token is $0.0066. The date is September 2018. There are no restrictions on the amount of investment, but you need to pass Whitelist and KYC on the OpenToken platform.

The Ankr project was founded by two developers: Chandler Song and Stanley Wu. They have experience working in cloud companies Amazon,

SAP, CitySpade. There are no persons with managerial background and strong marketers among the team of 11 people; however, NEO fund, OKEx exchange, JLabs and other "giants" of the crypto world have already invested in the company.

Among the advantages are a presence of a prototype and a large number of repositories on GitHub. Cons - the lack of marketers and public figures in the team, equally the presence of serious, established competitors in the cloud computing market.

However, technical skills and strong strategic investors can outweigh this and bring the project to the stage of successful implementation. The recommendation of the analytical department of Tokenbox is to invest for the medium term given recovery of the market. Evaluation of the project Ankr is 7/10.

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