CoinDash Basic Review
|Start ICO||15 Jul 2017|
|End ICO||15 Jul 2017|
Ticker symbol: CDT;
Project type: blockchain-based social cryptocurrency platform for traders;
Company: No information;
ICO: 17/07/2017 at 14:00 GMT to 17/08/2017 at 14:00 GMT, see
Soft cap: no information;
Hard cap: USD 12 Mln;
Token: CDT, follows ERC20 standard;
Bonus structure: No bonuses;
Referral system: No information;
Open source: No information available
Team size: 9, plus 5 advisors;
Developer team active: Yes;
GitHub: No information available.
Wiki: No information available.
Slack: +3132 users https://coindashers.slack.com/
Twitter: +4566 followers https://twitter.com/coindashio?lang=en
Reddit: No information available.
Facebook: +2247 likes https://www.facebook.com/coindash.io/
YouTube: +130 subscribers, https://www.youtube.com/channel/UC_CFhpZ81CxsDlva5pv1_NQ
CoinDash is a social platform for cryptocurrency traders. Today the market of cryptocurrencies and cryptoassets contains hundreds of items. Commonly, the process of asset allocation and portfolio management turns into a complex task, especially for those who are just starting their investment activities. Many beginning traders are not able to overcome high information barriers on their own, and as a result, the market is deprived of plenty of potential investors. CoinDash is a multi-asset management system created to help investors simplify the process of allocation and maintenance of the portfolio of assets.
The core goal of the project is to make the working environment for portfolio management simple and user-friendly. CoinDash is going to become a platform providing investors with three instruments: social trading, the crypto-currency market and the ICO market (tokens). In addition, a wide range of analytical instruments will be implemented for the investor's portfolio, with the possibility of calculating various financial indicators, coefficients and multiples.
The project has a strong team as well as a powerful concept. CoinDash is a platform with a high potential in the future. It will be in demand among newcomers on the ever-growing market of crypto-currencies and tokens.
CoinDash is going to issue a CDT-token, which will be used to pay all the platform fees. This will lead to a direct correlation between the success of the platform and the value of the token, especially in the long term. Particularly, the more the platform acquires users and fees, the higher the price of CDT.
- An interesting and easy to understand concept.
- The platform will combine 3 instruments: social trading, the crypto-currency market and the ICO market (tokens). These tools are unique and are not provided by competitors on the market.
- A mutually beneficial automated trading function will be implemented. It will allow investors to copy-trade experienced traders.
- Portfolio management functionality is already running in Beta version.
- The CDT token will have an infrastructure function.
- CoinDash has a very strong advisories membership.
- There is no financial model or any calculations that allow estimating the potential demand for the platform.
REVIEW OF COMPETITORS
Among CoinDash's competitors can be identified:
- Blockfolio (http://blockfolio.com/);
- Coinigy (https://www.coinigy.com/);
- Shapeshift Prism (https://info.shapeshift.io/).
Blockfolio is a handy mobile application that allows you to track your assets, whereas Coinigy provides its users with a trading platform to trade all of the important digital currencies on all available exchanges with just single account. Also, it has a charting interface with all the drawing tools and indicators investors would need to perform technical analysis. In turn, Shapeshift Prism allows you to create your own portfolio, but without any assistance in investment decision- making process.
Generally, the above mentioned projects are not direct competitors, but the closest ones. The CoinDash project is certainly more functional than all its rivals. At the same time, its true value is not just in its extended functionality, but in an attempt to give the platform users a toolkit for profit maximization.
MARKET AND INDUSTRY REVIEW
In recent months investments in cryptocurrency market are growing at a very fast pace. There is a constant increase in a cryptocurrency trading volume as well as its market capitalization in 2017. By the beginning of June 2017, the total value of all the cryptocurrencies have exceeded $100 billion. The attractiveness of this market is caused primarily by high volatility.
The ICO market is growing very rapidly, setting new all-times records in fundraising volumes. For example, blockchain project EOS raised $170 mln in first days, Bancor Protocol generated $153 mln in just 3 hours selling its cryptocurrency token, Status.im - $112 mln, MobileGo - $53 mln and so forth.
One of the major advantages of this market for CoinDash is that the trading process is conducted 7 days a week and 24 hours a day. In addition, abcence of regulators control lowers entry barriers and makes markets available to investors from all over the world.
TECHNICAL ASPECTS OF THE PLATFORM
CoinDash platform gives its users a sufficient toolkit for risk management, portfolio management and technical analysis. Everything is aimed to maximize user’s profits.
The platform provides and updates all the relevant information (risks, price changes, currency rates, portfolio performance, etc.) in real time, including orders and trades on which the user is subscribed.
Many processes, including following other investors’ strategies and copy-trading, will be transparent and convenient; the interaction will be based on a smart contracts system. ICO copy-trade function will automatically participate in the ICO on your behalf, based on the investments made by the traders you follow. You will never miss an ICO again, CoinDash states.
The most important feature of the CoinDash platform is that the platform has value for each of its users, enabling experienced traders with a good reputation to receive rewards for the information they share with their subscribers, which is a completely new concept of revenue from trading.
The official website of the project provides Whitepaper in several languages. The document focuses on the platform's functionality, ICO details and development plans, but lacks the project's budget and its financial model.
Token: CDT (follows ERC20 standard).
ICO starts on 17 July 2017 at 13:00 GMT.
ICO ends on 17 August 2017 at 13:00 GMT.
Price: 1 CDT – approximately $0,024 provided that the hard cap is reached.
Total emission: 1 000 000 000 CDT.
Crowdsale pool: 500 000 000 CDT.
Soft cap: no information available.
Hard cap: $12 000 000.
50% - for Token sale (1.25% will be allocated to WINGS DAO participants); 29% - minted for future product development, customer acquisition, marketing & PR. These tokens will be locked for 1 year;
20% - Team and early contributors (10% liquid for early contributors, 10% vested for 1 year with 6 months cliff for the core team);
1% - Bounty campaign. Bonuses are not provided.
PLANS OF THE PROJECT DEVELOPMENT
Whitepaper details all stages of the platform development after the ICO. A brief description of the development of the project is depicted on the following picture:
In our opinion, development plans of the project and launch timing of each stage are real and feasible. To date, portfolio management functionality has already been implemented, which is available for download on the official CoinDash website.
The following functions are also available in it:
- Keeping track and getting insight (like performance, risk and market benchmarking) for Ethereum portfolios.
- Sharing portfolio performance and benchmarking against other top traders.
- Following top traders and automatically copying their ICO investments via a smart contract.
Alon Muroch - CEO and Dev. An experienced entrepreneur and blockchain developer, 4+ years. Contributed code to many open-source crypto projects and developed his own P2P multi sig bitcoin wallet (bitcoin authenticator).
Adam Efrima - Co-founder and COO. Over 8 years living in China working in the financial industry and Fintech space, Adam has worked in CITIC Bank covering outbound investments for Chinese SOEs, in the past 2 years he was in charge of setting up eToro Shanghai operation.
Brian Lio - is the founder and CEO of Smith + Crown. Brian has extensive experience in consulting on business, innovation, design and product strategy as well as user experience and user interface design.
Vincent Zhou - general Manager at Fintech Blockchain Group, after a successful career in High tech and Blockchain companies Vincent is considered today as one of the most influential VC investors in the Blockchain space in China.
The marketing strategy is based on the Wings DAO platform, where participants predict the results of the forthcoming CoinDash tokensale and can share their forecasts, thereby creating a higher level of trust among early investors. After the CoinDash ICO, members of the Wings DAO will be rewarded with tokens based on the accuracy of their forecasts.
The project is actively discussed on several resources, such as Facebook and Twitter, and as the ICO date approaches, the number of participants is constantly growing. The founders of the project give presentations around the world on a regular basis.
The development team is open to communication with investors. There is always an opportunity to reach them through social networks, chat, as well as the following email address: email@example.com.
2. Blockchain News:
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.