Carboneum Basic Review
|Start ICO||25 Jun 2018|
|End ICO||08 Jul 2018|
Ticker symbol: C8
Project type: Cryptocurrency, Investments
Extended company description: Carboneum is an open protocol that collects data on digital assets and cryptocurrencies from various exchanges, which enables users to conduct trading operations quickly and without intermediaries.
Company: COINMAX TECHNOLOGIES PTE. LTD.
Public ICO start date: 11.06.2018
Public ICO end date: 30.06.2018
Token sale duration (weeks): 2.7
Token type: ERC-20
Token emission: 200,000,000
Tokens available for sale (Pre-Sale + Public ICO): 120,000,000
С8 price: 1 ETH = 8,000 C8
Accepted currency: ETH
Bounty: active until June 30th, 2018
Token role: functional
Team (number of people): 16 (5 core management members)
Advisors and partners (number of people): 6
Carboneum is an open protocol that collects data on digital assets and cryptocurrencies from various exchanges, which enables users to conduct trading operations quickly and without intermediaries.
The Carboneum protocol operates on the CoinRadars platform. CoinRadars is a trading platform, which allows users to buy and sell cryptocurrencies and digital assets.
CoinRadars provides the following services:
Access to transaction history, trading positions, statistics, etc.
Enables newcomers to copy trading strategies of market leaders.
Asset filtration based on the profit-risk ratio.
The possibility of cooperation between traders in the sale of strategies, market analysis, etc.
Rawit Hanutsaha (LinkedIn) - CEO of Srichand United Dispensary Co., Ltd., previously, Management Trainee at Citi.
Sakolkorn Sakavee (LinkedIn) - Managing Director of Playultimate Co., Ltd, previously, Founder and CEO of MSeed Asia Co., Ltd., Vice President of Garena Online.
Louis Ryu (LinkedIn) - Founder of Shift, previously, Partner at VenturePort.
Somboon Sukheviriya (LinkedIn) - President of Comanche International, previously, Managing Director of Fidelio Software, Information Systems Manager at The Oriental Hotel Bangkok.
Kai Tsang (LinkedIn) - Partner at the White Knight Group, previously, Head of App Store (Asia) at Apple, Head of Product Management at SEEK.
Krating Poonpol (LinkedIn) – Venture Partner at 500 Startups, Strategic Advisor to the CEO at KASIKORNBANK, Founder of Disrupt Technology Venture.
Pawoot Pongvitayapanu (LinkedIn) - CEO and Founder of TARAD.com, CEO and Founder of efrastructure Inc., Committee Member of the Thai Fintech Association.
Korn Chatikavanij (LinkedIn) - Politician in the Thai Democratic Party, Author of many popular books and publications, former Investment Banker.
Line Finance - a financial BOT assistant.
Maybank – an internet bank.
Krungsri – a company that provides mobile banking applications available on IOS (iPhone, iPod, iPad) and Android, and also providing various financial information via SMS.
Z. – a brokerage firm.
Bangkok Bank InnoHub – a 12-week program that allows one to cooperate with one of the largest commercial banks in Thailand and Southeast Asia.
MNC Sekuritas - a securities company that acts as a broker and an insurer.
Asia Plus Securities – an investment holding company.
KTBST – a company that develops investment strategies.
Nest – an early-stage venture capital firm.
AIS – a company that supports startups in the early stages of development.
Globex – an exchange for trading in various financial assets.
Yuanta – a diversified brokerage firm offering various services in the field of securities.
KT ZMICO – a brokerage firm that allows the trading of various financial assets.
Сyberagent – venture fund.
East – venture fund.
500 - venture Fund.
Nobuaki Kitagawa - CEO at Сyberagent , previously, manager of global business at NTT DoCoMo, Inc.
Piyaphan Wongyara - CEO at Stock2morrow co., Ltd., previously, Procurement Manager at Taikisha (Thailand) co., Ltd.
Prakasit Thitaram - Business Owner, Investor.
Paul Pattarapon - Author, Investor, Teacher at เหนื่อย ชั่วคราว สบาย ชั่ว โคตร, Partner and Executive Director of the C.A.A.P Group.
Thanachat Tangsriwong – Chief Representative of the Bangkok Office for CyberAgent Ventures, previously, Analyst at PrimeStreet Advisory Group, Associate at ChangeFusion.
The project is based on a protocol that enables users to trade digital assets and cryptocurrency.
Strengths of the project:
The project operates in a market which demonstrates high growth rates.
Availability of starting investments.
Weaknesses of the project:
Project development takes a long time.
In our opinion, since the project specializes in trading cryptocurrencies and digital assets, it is worth focusing the analysis on this sector. Here we can discuss the great potential shown by this segment.at potential. According to Infoholic Research LLP forecasts, the cryptocurrency and blockchain market will grow by 35.2% in the next 3 years.
The project is also considering introducing securities trading on the platform. According to the World Federation of Exchanges, the global capitalization of the market for trading in securities and currencies increased by 4.4%. However, there was a decline in the trading of derivatives (2%) and shares (15%). As for the market participants, Simon Troy, Marketing Head at www.forextrade1.com, estimated that there are about 77.296 million traders worldwide. [https://www.financemagnates.com/forex/brokers/exclusive-us-q1-2015-forex-profitability-report-more-accounts-and-profits/], [https://www.quora.com/How-many-retail-traders-in-the-Forex-worldwide], [https://www.quora.com/How-many-stock-traders-are-there-worldwide], [https://www.world-exchanges.org/home/index.php/statistics/annual-statistics], [https://www.world-exchanges.org/home/index.php/files/54/Market%20Highlights/418/WFE%20FY%202016%20Market%20Highlights.pdf]
According to the team’s analysis, the global ratio of shares traded in relation to the gross domestic product (GDP) increased significantly for many decades with the growth rate going from 24% in 1991 to 125% in 2016.
Comments: The market demonstrates high growth rates, which indicates the possibility that the project will occupy its niche.
During our analysis, we identified the following competitors:
Scrinium – a decentralized investment platform that helps to select the required trading strategy by analyzing the efficiency of traders worldwide to create an individual investment portfolio of each private investor automatically.
eToro – a platform for trading cryptocurrencies with the ability to copy the strategies of other users.
Zulu Trade – a platform that enables users to choose from a variety of successful strategies and trade in cryptocurrency.
Summary: In general, the platforms are very similar to each other. However, according to the team, the success of CoinRadars platform will give Carboneum the opportunity to face the competition.
The CoinRadars platform is built on the basis of blockchain technology using smart contracts. The Carboneum protocol was developed to speed up transactions and the provision of information.
The platform provides the users with a choice either to build investment strategies on their own or follow market leaders.
Trade is carried out with the help of the Carboneum protocol independently. The user selects the proposed assets and opens a trading position.
The process of social trade (follower-leader) on the platform will be implemented as follows:
1) The leader creates an agreement with the help of smart contracts on trading his strategy, where the terms of reward are already set.
2) Carboneum approves the desired rate of reward for leaders via distributed application (dApps).
3) The leader provides access to an investment account similar to the provision of API keys to third parties.
4) The follower signs a contract to start copying the trading position of the leader.
5) The follower transfers C8 tokens to the wallet to pay the fee.
6) The reward will be transferred as soon as the user closes the trading position.
Comments: The project uses known technologies that have already proven themselves in the market.
In the future, with the development of technology and the amount of data, the team plans to implement the following:
October 2018 - launch of CoinRadars, an analytical and information platform.
Q2 2019 - launch of a platform for trading digital assets and cryptocurrencies.
Q3 2019 - addition of the ability to buy and sell securities (with SEC permission).
Comments: The project presented a development strategy but the actual development of the platform will take a long time, which may negatively affect the investment attractiveness of the project.
Comments: The following modules are represented in the repository:
CEngine – An engine for copying trade data via the 0x protocol.
Carboneum-harmony-api – Carboneum Harmony Standard Exchange API for the relayer.
Contracts - Smart contracts for Carboneum.
Zeppelin-solidity – The basis for creating secure smart contracts on Ethereum.
Whitepaper – Documentation describing the project in detail.
The repository belongs to Carboneum. There is activity observed in the modules.
We have analyzed the website and the documentation of Carboneum for sufficiency and consistency for making an investment decision.
Information about the project is contained in the Whitepaper, the Light Paper and UltraLight Paper. All of these documents are presented in English. The project is described in sufficient detail in the Whitepaper. The main emphasis is on the description of the CoinRadars platform.
The website also provides information about the project, the team, the Roadmap, partners, advisors and the ICO.
Summary: The documentation provides a comprehensive view of the project. The project is described in sufficient detail. However, there is not enough description of the technical part of the project.
Percentage of tokens issued for sale: 60 %
Public ICO start date: June 11th, 2018
Token role: ERC-20
Accepted currency: ETH
1 С8 price: 1 ETH = 8,000 C8
Crowdsale duration: 2 weeks, until June 30th, 2018
The С8 Token is means of payment on the platform and it can be used to pay:
Fees for social trading.
For services on other platforms (StockRadars, FundRadars, Coinmax).
For ongoing events.
The project provides a buyback mechanism for C8 tokens:
Token limitation: 200,000,000
Advantages for token holders: Tokens allow holders to receive discounts of up to 50% on premium platform services. In addition, the tokens are functional, which allows users either to sell them or to use them to access the platform services.
Additional token emission: none
Hard cap: 12,000,000 USD
Soft cap: 1,200,000 USD
Comments: C8 tokens are planned to be listed on exchanges.
2,000,000 Carboneum (C8) tokens have been allocated to the bounty program. The program is open in the following areas:
- Twitter Campaign - 20% (up to 400,000 tokens).
- Translation campaign - 20% (up to 400,000 tokens).
- Articles and videos campaign - 25% (up to 500,000 tokens).
- Telegram - 15% (up to 300,000 tokens).
- Facebook - 20% (up to 400,000 tokens).
Summary: The project has an extensive bounty program. All details are available in the link above. The rewards will be distributed after the ICO, no later than July 1st, 2018
Tokens and capital will be distributed according to the following scheme:
Summary: Tokens do not affect the distribution of shares in the company. The incentive system is built in such way that it is advantageous to buy tokens in advance. Tokens will be distributed approximately two weeks after the completion of sales or no later than July 1st.
Summary: The project team plan to use strategic partnerships and work with the audience of the StockRadars application to attract users to the platform.
The team consists of 6 people and 6 advisors. Information about the main team members based on their LinkedIn profiles is given below:
Max Kortrakul (LinkedIn) - CEO and Founder of Carboneum, CEO of StockRadars, previously, Lecturer at King Mongkut's Institute of Technology Ladkrabang, Webmaster at ThaiWirelessLAN.com, Regional Marketing manager at ContentKeeper Technologies.
Pavalin Masagee (LinkedIn) - Head of Business Development at Carboneum and StockRadars, Founder of Hom Hostel & Cooking club, previously, Co-Founder of Happenn.
Akadej Udomchaiporn (LinkedIn) - Head of Research at Carboneum and StockRadars, Lecturer at King Mongkut's Institute of Technology Ladkrabang.
The team has 3 more people.
Summary: None of the team members indicated their affiliation with the project, however, three of them indicated working with StockRadars. The team is mostly from Thailand. The team also has the following specialists: a chief developer, Carboneum developer and business strategy specialist.
Information about the project is available on various popular services such as Twitter, Telegram, Facebook and GitHub. The project has a Bounty program.
The team is conducting an advertising campaign on social media. Regular news updates about the project are posted on Twitter and Facebook. The format of the articles about the project shows that they were written mainly by the order of the team as a review.
Comments: The users are just becoming interested in the project. The marketing campaign is developed mainly on Twitter and Facebook.
Traffic analysis of the Carboneum website based on data from Similarweb.com showed the following:
Comments: direct link: 55,64%, referrals: 28,98%, search: 7,6%, social media: 4,86%, mail: 2,91%
Traffic through search: 7,6%, 100% of which is "organic" traffic.
Referral links: 0.2898
Social activity analysis of the Carboneum website based on data from BE1.ru showed the following:
Comments: Countries visitors: Thailand - 96.43%, Singapore - 2.67%, Ukraine - 0.91%
Referral links: adslthailand.com - 100%
Social activity: Facebook - 100%
Summary: Based on the data available, we can make a conclusion that users are just starting to get interested in the project. The team conducts an advertising campaign on Twitter and Facebook, communicates with users on Telegram and there are also media publications and awards. In February, the number of visits had increased by 3651 people.
The information contained in the document is for informational purposes only. The views expressed in this document are solely personal stance of the ICOrating Team, based on data from open access and information that developers provided to the team through Skype, email or other means of communication.
Our goal is to increase the transparency and reliability of the young ICO market and to minimize the risk of fraud.
We appreciate feedback with constructive comments, suggestions and ideas on how to make the analysis more comprehensive and informative.