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indaHash Basic Review

Project details

Name: indaHash

Ticker symbol: IDH

Project type: Advertisment 

Extended company description: IndaHash is a platform that enables brands to launch local and global marketing campaigns on social media via influencers.

Company: IDH MEDIA S.A.




ICO details

Public ICO launch: 29.11.2017

Public ICO end date: 20.12.2017 [2]

Crowdsale duration (weeks): 3,0

Token type: ERC-20

Token supply: 400 000 000 [2]

Tokens available for purchase (Pre-Sale + Public ICO): 320 000 000

The purpose of attracting investments:    

Allocation of the proceeds:

  • 40% - Marketing and Business development (including the tokenization of Influencer marketing, introduction of indaHash Coins and ensuring their liquidity)
  • 30% - Development and Operations
  • 20% - Acquisitions
  • 5% - Legal
  • 5% - Reserve Reward Fund

1 IDH price: 0.0003125 ETH

Accepted payments: ETH


Program dates: October 19, 2017 until November 29, 2017

Token role: Functional



Team (number of people): 130

Advisors and partners (number of people): 3



Social media

Twitter: Posting: 704, Subscribers: 3138

Telegram: Subscribers: 6500

Medium: Posting: 7, Subscribers: 26

Instagram: Posting: 788, Subscribers: 51013

Reddit: Subscribers: 63

Linkedin: Subscribers: 1567

Facebook: Subscribers: 10822

Youtube: Posting: 58


Project information

IndaHash is a platform that enables brands to launch local and global marketing campaigns on social media via influencers. IndaHash has around 300,000 social media users in 70 countries. [1], [36]

IndaHash will provide the following services:

  • A facility for implementing advertising campaigns
  • Gaming
  • The ability to use different pricing models: CPM, CPE, CPV, CPCon [2]
  • A wallet for creating, receiving and sending tokens [37]

Video about indaHash: https://www.youtube.com/watch?v=AQ4MUrCBxQ4&feature=youtu.be

The project is founded by IDH Media Limited, which was registered in Ireland in 2015.

Project advisors:

Dmitry Khovratovich - advisor on blockchain technologies. Blockchain / Smart Contract Lead at INS Ecosystem (3 months), technical director for security and smart contracts at ICObox (5 months), founder and head of security at ABDK (1 year)

Bok Khoo  - advisor on blockchain technologies

Fiona Chow - communications advisor. Founder of Goadi Consulting (2 years), advisor at people.io (2 years), partner and head of PR at Hoxby Collective (about 2 years).

Famous brands using the project’s services include: Pandora, Maggi, Nivea, MasterCard, Nestle, Danone, Lays, McDonald’s, New Balance, Sephora, Danone, Adidas, Vichy etc.

Investments attracted: N/A




The project is founded by experienced specialists; itis in the process of conducting its ICO advertising campaign. We consider that it is succeeding in attracting the attention of the community.

Strengths of the project:

  • the project has experienced partners and advisors
  • the project has a history of commercial activity
  • the market shows quite high dynamics
  • the project is unique and arises out of a real need

Weaknesses of the project:

  • the project is a working business and, in our opinion, there is no need to stage a crowdsale.


Market and industry

According to Forbes, 73% of marketing professionals have a budget for work with Influencer Marketing. However, Linqia’s percentage of marketers reaches 86%, 88.5% of which believe that working with influencers is an important part of marketing plan.

According to Statista, 48% of respondents are planning to increase their budgets for Influencer Marketing in 2017.

Mediakix Influencer Marketing research based on Instagram showed that working with influencers will grow by 119% per year from $1 billion to $2.38 billion by 2020. [29],[30],[31],[32]

The team claims that about 83% of buyers trust the recommendations of familiar people (AC Nielsen) [2]. The market volume for Influencer Marketing showed rapid growth; about 86% of marketers used this instrument which confirms the data of our expert sources.

This type of marketing was spent about $25-50 thousand in 2016 and $50-100 thousand in 2017. 48% of marketers are planning to increase marketing budgets in 2017.

According to Influencer Marketing research, Instagram will reach $2 billion in 2019. Total volume for Influencer Marketing will be $10 billion in 2020.

The team states that 1 dollar invested in Influencer Marketing yields 7.65 dollars in profit. [2]

Comment: The team presented a study of the target market. We agree that the current market shows fairly high dynamics, with a high level of marginality.everyone.



We have identified the following competitors in the field of Influencer Marketing:

  • Mavin  - a platform for Influencer marketing based on blockchain.
  • Socialmedia  - a decentralized ecosystem for planning, creating, launching and analyzing advertising campaigns among influencers.

In addition there are competitors such as TapFusion, Speakr, Traackr, NeoReach, etc., which do not use blockchain but also provide Influencer Marketing. [34]

Resume:  The key advantages for indaHash are its rich history, the availability of a mobile application and an audience of influencers.


Engineering features of the platform

The system will be built on blockchain technology using smart contracts not related to Ethereum. [2]

Technology description

The indaHash economy involves interactions between brand, influencers and the audience. [2]

  • The brand attracts influencers with rewards for conducting a marketing campaign.
  • Influencers take part in promotion, creating posts, videos, etc. The brand awards them with tokens for successful content. They can also exchange tokens for discounts or the brand’s products. In addition, authorities can create their own tokens to attract an audience via gamification and rewards.
  • The audience of influencers can exchange tokens for prizes, personal meetings, etc.

Comment: The project already has a working mobile application.


Technological Roadmap

In the future, with the development of technology and data capacity, it is planned to implement the following: [2]

  • January 2018 - integration with cryptocurrencies
  • February 2018 - integration of the expanded wallet into an application for influencers
  • March 2018 - integration of indaHash token into the application
  • May 2018 - introduction of Pay-with-Fame function
  • October 2018 - introduction of brand evaluation based on tokenization
  • End of 2018 - distribution of pre-paid cards containing indaHash coins.

Comment: The technical aspect of the project is also presented in the roadmap. According to the white paper, the platform will be launched and tested on Ethereum; later another protocol will be selected and there will be a move to its basis. The final version of the platform is expected to be launched in January 2019.

There are 3 modules in the open repository:

  • indaHashToken – a module describing the token
  • php-resque – a library with Redis support for creating background tasks, placing these tasks in one or several queues and processing them
  • livespace – a workspace

Screenshot of repository:

Comment:  Technical modules from the project can be found in the repository. The activity inside the repository is low, since the project is part of an existing company.



We have analyzed the website and documentation of indaHash for sufficiency and consistency for making an investment decision.

The documentation includes the white paper, terms & conditions and a privacy policy. The documentation is presented in English. indaHash is described in sufficient detail in the submitted documents. [2]

The website also provides information about the project, staging of the public ICO, teamwork and answers to frequently asked questions. The website is presented in English, Portuguese, Japanese, Vietnamese, French, Indonesian, Korean, Russian and Arabic.[1]

Resume: Documentation enables the reader to gain a comprehensive view of the project.



Public ICO launch: November 29, 2017

Tokens to be released,% 80%

Token type: ERC-20

Accepted as payment: ETH

1 IDH cost: 0.0003125 ETH

Crowdsale period: 3 weeks, until December 20, 2017

IDH can be used as a means of internal payment, for mutual settlements between users of the indaHash platform.

IDH will allow Influencers:

  • to gain early access to brand products, novelties and discounts when shopping or using local services (such as restaurants, hotels, etc.)
  • to create personal tokens to increase audience engagement (e.g. use tokens and exchange them for exclusive activities such as autographed awards, closed meetings, social events, etc.)

Token issue limit: 400 000 000

Pluses for token holders: limited tokens, functional tokens which allows using the platform services or sell them.

Maximum planning amount of profit: 320 000 000 IDH

Minimum planning amount of profit: 40 000 000 IDH    


The token sale is implemented in several stages:

Start date of the ICO on November 29, 2017 at 17:00 UTC

End date of the ICO on December 28, 2017 at 16:59 UTC

Comment: The team is planning to publish information on placing tokens on exchanges after the ICO. [2]



Link: https://bitcointalk.org/index.php?topic=2290709.0

Scheme of interest distribution by program: 

The project reserved not more than 2% of total number of tokens on the bounty. The program is open in the following areas: [35]

  • Twitter - 300 000 IDH (300-2499 friends 300 IDH/week, 2500+ friends 600 IDH/week)
  • Facebook - 300 000 IDH (200-499 friends 300 IDH/week, 500+ friends 600 IDH/week)
  • Telegram - 300 000 IDH (everyone who joins will earn 300 IDH)
  • Content - 300 000 IDH (1500 IDH if a quality article)
  • Translations - 300 000 IDH (each qualifying translation will earn 6000 IDH)

Also there is a referral program for placing links to the ICO website: you will receive 5% in the tokens from the total purchase amount of the user followed by your referral link.

Resume: The project has an extensive bounty program. All conditions of the program are indicated by link. The same is for registration. Distribution of rewards will take place after completion of the ICO; tokens will be issued within one week.


Tokens and capital distribution

Tokens and capital distribute according to the following scheme:

Resume: Tokens do not affect the distribution of shares in the company. The incentive system is set up such way that it is more profitable to buy tokens earlier.


Development plans

  • April 2018 - start of a marketing and educational program for Influencers
  • May 2018 - expansion of the partner network
  • June 2018 - extension of the advertising and educational campaign for Influencers, launch of advertising and educational campaign for brands
  • July 2018 - introduction of a tokenization program and rewards
  • September 2018 - extension and expansion of advertising campaign for Influencers.

Based on the forecast for sales (see above), the project claims that it will show growthof almost 300% in 2017 compared to the same period in 2016.

Resume: The roadmap shows that the entire period of platform implementation will be accompanied by marketing and educational program. However, what events will take place within the framework of these directions was not specified (during our research this question was also posed to the team).

The milestones schema for the project shows that global expansion took place in August 2016 which may indicate that the project has passed through a stage of rapid growth. As proof of current growth, the team adduces a "Forecast of sales growth" which was about 300%. Unfortunately, there are no calculations for the following periods.



The team consists of 130 people and 2 advisers. Information about the main team members based on LinkedIn is given below:

Barbara Soltysinska - CEO and co- founder. Specialist in advertising and management. Former Co-Founder and a member of the Supervisory Board / CEO of LifeTube, a major multi-channel YouTube network in Central and Eastern Europe, leader at MSL Warsaw.

Dariusz Zieliński - COO. Experienced high-level manager. Former Managing Director of Newsweek at Grupa Onet-RAS Polska, Director of Business Development at Gruner + Jahr, Project Manager at Marquard Media Polska.

Włas Chorowiec - CPO and co-founder; responsible for product development. Former Co-owner of LifeTube, Product Owner of GG Network SA.

Comments: All members of the team, except the director of business development at APAC, indicated their affiliation with the project.

Resume: The team is very large - about 130 people. Almost all team members indicate their affiliation with the project on LinkedIn. The team also has the following specialists: software specialists, IT, business development in different regions, liaison and communication officers, financial director.



Information about the project is available on Twitter, Facebook, Medium, Instagram, Reddit, BitcoinTalk, Telegram and YouTube. There is Bounty program.

The project is active on social media. Twitter and Facebook update news on the project regularly. The team communicates with users on Telegram and uploads videos to YouTube. The format of articles about the project shows that they were written mainly to order.

Comment: Interest in the project is at a high level. The basic marketing campaign is set on Twitter and Facebook. [1]

Traffic analysis of the website based on Similarweb.com data showed the following:

Traffic source (Similarweb.com)


32.32% - direct links, 18.53% of traffic - referrals,

23.32% - search traffic, 17.40% - social media.

Traffic through search: 23.32%, 99.24% of which is "organic" traffic

Referral links: 

18.53% (Top 5 sites: etherscan.io - 40,48%, coinschedule.com - 13,98%, coinjournal.net - 5,56%, 99bitcoins.com - 5,08%, coinspeaker.com - 4,25%)

Comment: The popularity of the website is growing rapidly (110,000 people in the last month), as well as the number of subscribers on social media which indicates the user’s interest in the project. Top 5 countries of the website population: Poland - 20.31%, the USA - 13.76%, Vietnam - 6.36%, the United Kingdom - 4.27%, Italy - 4.07% [32]

Resume:  According to available data, it can be concluded that users are interested in the project. The team conducts an advertising campaign on social media (Facebook, Twitter), communicates with users on Telegram and places videos on YouTube. The company already has a large user base as well as an extensive history of cooperation with well-known brands. In addition, there is support in the press.



The developers may be contacted using the links below.



The information contained in the document is for informational purposes only. ICORating received monetary compensation from the entity rated in this report for completing the ratings report. However, the entity rated in this report did not have the opportunity to approve this rating report before the report was published, nor did the rated entity have the opportunity to edit or remove this report once it was published. The views expressed in this document are solely those of the ICORating Team, based on data obtained 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.