CoinUs Basic Review
|Start ICO||01 May 2018|
|End ICO||14 May 2018|
Ticker symbol: CNUS
Project type: Service / Platform / Device
Company description (detailed): The Blockchain Inc. was created by a group of specialists from different industries, in order to develop a service enabling users to easily manage cryptocurrency. They plan to launch their CoinUs Wallet app and CoinUs Keeper dongle this year.
Company: The Blockchain Inc.
Public ICO start date: April 29, 2018, 17:00 UTC+9
Public ICO end date: May 13, 2018, 17:00 UTC+9
Token sale duration (weeks): 2
Token type: ERC-20
Total token supply: 2,000,000,000
Tokens to be sold (Pre-Sale + Public ICO): 1,000,000,000
Fundraising purposes: R&D, business development and manufacturing
Price: 1 ETH = 38,095 CNUS + 1 Keeper (subject to change based on exchange rates)
Accepted currencies: ETH
Bounty program: Not announced
Token function: Utility
Number of team members: 9
Number of advisors and partners: n/a
CoinUs Wallet is a hybrid wallet that provides top-notch security by combining the best features of hot and cold wallets. The company will create an autonomous self-sustaining blockchain ecosystem by realizing their core value of a “Human-to-Blockchain Interface”, human-centered rather than technology-focused.
Wallet owners will have access to the following features:
- multiple language support
- live currency and token price quotes from various exchanges
- currency rate notifications
- transaction records (including ERC20 token transaction history)
- KYC authentication and subsequent verifications based on previously provided data
- ICO listings and participation
At the root of this project lies an ecosystem currently encompassing a hybrid wallet data backup and storage solution.
- the rapidly developing market segment
- availability of an MVP
- an experienced team in a variety of fields.
- there is no information about project advisors or strategic partners;
- the market environment is highly competitive
Market and Industry
According to data provided by blockchain.info, total daily cryptocurrency transaction value is around $1,750 billion.
The cryptocurrency cap was $363 billion on April 20, 2018.
As per Juniper Research’s data, digital payments are expected to surpass $5 trillion by 2020. [https://blockchain.info/charts/n-transactions?timespan=30days], [https://coinmarketcap.com/], [https://www.juniperresearch.com/researchstore/fintech-payments/strategies-for-payment-providers/opportunities-risks-competition]
Comment: The market is showing high growth rates, making it possible for the project to occupy a niche.
According to our research, the project has the following competitors:
- Edge - a multi-currency wallet designed to facilitate transaction processes.
- Paycent - a mobile digital wallet that supports multiple fiat and cryptocurrencies.
- Jaxx - a cryptocurrency wallet available on various devices.
Conclusion: The key feature setting the project apart is its device, ‘CoinUs Keeper’ which strengthens security for the wallet. The ICO listing and startup incubation program is also a great feature.
Platform Technical Parameters
- CoinUs Wallet is a multi-cryptocurrency wallet.
- CoinUs Keeper is a security solution that integrates with the app as a dongle. The solution is similar to OTP technology, but also fragments and stores crucial data after connecting with a phone.
- CoinUs Token Launcher is an ICO platform.
- The indexing server will provide an Auto Token Discovery feature, where a smart address is not required.
Two-factor authentication will ensure system security. For authentication purposes there will be several standardized factors:
- Knowledge factors, including a password and personal identification number (PIN).
- Inherence factors including fingerprints.
The product will also incorporate a backup system to facilitate fast recovery.
A 6-digit passcode with QR code or Mnemonics.
The CoinUs wallet and CoinVerse ecosystem are designed to perform the following functions:
- The CoinUs Wallet is intended for cryptocurrency storage and transactions. It will support:
- ETH, ERC-20 tokens.
- QTUM and QRC20 tokens.
The team is planning to add altcoins based on Bitcoin (BCH, LTC, etc.), DASH, ZEC, and XRP.
Summary of a few of the features:
- Single backup possible with QR code.
- Creation of additional wallets with one click.
- Auto-detection of tokens (ERC20) without a smart address.
- Searchable transaction history.
- CoinUs Keeper is a dongle that connects to the earphone jack of a phone(includes a converter for iPhones). It will be available for CoinUs wallet users. Keeper acts as another security measure that stores fragmented data essential for making transactions.
- CoinUs Token Launcher will enable ICOs to run campaigns and obtain KYC data through the CoinUs Wallet. Users can also receive information on projects, including expert reviews and can also invest in listed ICOs.
CoinUs will expand and grow to build a CoinVerse ecosystem, to incorporate applications based on CoinUs products (Wallet and Keeper). The team seeks to deploy the following solutions as a part of CoinVerse:
- a decentralized messenger.
- P2P transactions.
- a decentralized exchange based on a proprietary Cross-World Bridge Network (CBN) blockchain, with CoinUs Wallet at the center of the platform. CBN will convert assets into coins using smart contracts.
- CoinVerse Middleware protocol will enable communication and connect users to CoinUs services.
Comment: The project has an MVP with available Android and MacOS apps. [https://itunes.apple.com/us/app/apple-store/id1367339746?mt=8], [https://play.google.com/store/apps/details?id=com.theblockchain.coinus.wallet]
The team is planning to further develop the technologies, collect the required data and subsequently implement the following solutions:
- Q2 2018: CoinUs Keeper pre-order, introduction of additional coins to the wallet (BTC, BCH, LTC, QTUM, etc.), Token Launcher release, KYC release.
- Q3 2018: CoinUs Keeper launch, ICO rating system release, introduction of additional coins to the wallet (strategic partners).
- Q4 2018: CoinUs wallet enhancement (UX and UI improvement).
- Q1 2019: CoinVerse development commences.
- Q2 2019: CoinVerse testnet launch, Wallet and CBN API release;
- Q4 2019: CoinVerse Ecosystem launch.
Comment: The team has provided sufficient information on the project’s development phases.
We have analyzed the CoinUs site and documentation to determine whether they provide sufficient and consistent information for an investment decision to be made.
Project information can be found in the White Paper. The document is available in English, Chinese and Korean. It provides a detailed description of the project. Specific attention is paid to platform features and components.
The website also provides information about the project, roadmap, and team. The site is available in English and Korean.
Conclusion: The documentation provides sufficient information for investors to gain an idea about the project; a detailed description is provided.
Tokens to be sold: 50%
Public ICO start date: April 29, 2018
Token type: ERC-20
Accepted currencies: ETH
Price: 1 ETH = 38,095 CNUS + 1 Keeper (subject to change based on exchange rate)
Crowdsale duration: 2 weeks (to May 13, 2018)
The tokens are used for encryption and API payments in CoinVerse.
Token issuance limit: 2,000,000,000
Token holder perks: The utility tokens can be used to access platform services, or may be sold.
Additional emission: none
Hard cap: 24,000 ETH
Soft cap: n/a
Bonuses: Available during the private sale (pre-order).
Comment: CNUS tokens will be later converted to coins. The CoinUs Keeper (integrated with the CoinUs Wallet) is sold together with CNUS tokens. The Keeper has been designed for data protection purposes.
Tokens and Funding Allocation
Tokens and funds will be allocated as follows:
Conclusion: Tokens do not affect the company’s allotment of shares. The incentive program encourages early token purchase.
Project Development Plans
- Q4 2018: Launch in Japanese, Chinese, USA and European markets.
- Q1 2019: Establishment of a US branch.
The development plan includes the following activities:
- ICO Listing and Startup Incubation Program: CoinUs will be looking for promising startups and investing in them to build an autonomous CoinVerse Ecosystem.
- System improvement measures:
- The Lightning Network enables the creation of a virtual channel for direct connection to off-chain counterparts.
- Sidechain technology will enable creation of assets built on Ethereum with smart contracts and then moving them to Bitcoin for transactions.
Conclusion: The project has a development and scaling strategy. The team is planning to enter Japanese, Chinese, US and European markets by the end of 2018.
The team has 9 members. LinkedIn profiles of key members provide the following information:
- Jay Lee (n/a) – CEO and co-founder. Blockchain Investor.
- Sean Oh (LinkedIn) – CEO and co-founder. Most recently worked as a Research Analyst for Merrill Lynch in Seoul, Korea covering telecoms, internet, advertising, etc. Other experience includes investment banking at Goldman Sachs, SK Telecom, and Bank of America. Received a B.A. in Economics and an M.B.A. in finance and accounting from the University of Chicago;
- Alex Oh (LinkedIn) – COO. Formerly head of Pindilab. Alex was also VP of Aquarius Entertainment.
- Ho Ick Lee (LinkedIn) – CTO. Formerly developer team lead for PlayDog Soft, Inc. Ho Ick was also an engineer/software developer for Samsung Electronics.
Conclusion: Most of the team confirm that they are taking part in the project. Team members are mainly from South Korea. The team also features the following specialists: Business strategy lead, management Lead, UI/UX Lead, QA Lead, and app developers.
Information on the project is available via major platforms such as Twitter, Telegram, Medium, Facebook, Bitcointalk and YouTube.
The team is running a social network-based marketing campaign. Their Twitter and Facebook newsfeeds are regularly updated. The majority of articles available are reviews of the project and have been written to order.
Comment: Based on Korean marketing channel checks we observe high interest in the project. The current marketing campaign is mainly developed via Korean messenger KakaoTalk, Korean media, Facebook, and Twitter.
The following are results of a traffic analysis of CoinUs, based on data from Similarweb.com:
Traffic source: https://www.similarweb.com/website/coinus.io
Comment: direct: 69.38%, referrals: 30.62%, search: 0%, social: 0%, mail: 0%
Search traffic: 0%
These are the results of CoinUs site traffic analysis based on data from BE1.ru:
Traffic source: https://be1.ru/stat/coinus.io
Comment: 100% of traffic comes from South Korea
Referrals: logical-arts.com - 50%, kingjobs.team.com - 50%
Conclusion: Based on available information, the team is running a marketing campaign on Twitter and Facebook and is communicating with users via Telegram and KakaoTalk. They also post videos on YouTube and run a blog on Medium. The number of site visitors increased by 150 over the past 2 weeks.
You can contact the developers via the following links:
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.