SunMoney Basic Review
|Start ICO||14 Mar 2018|
|End ICO||15 Apr 2018|
Ticker symbol: SMT
Project type: Finance
Extended company description: A platform that enables investment in renewable energy sources.
Company: SunMoney FZ LLE
Public ICO Start date: 15.03.2018
Public ICO End date: 15.04.2018
Token Sale Duration (weeks): 4
Token Type: ERC-20
Total Number of Tokens Issued: 10,000,000
Tokens Available on Sale (Pre-Sale + public ICO): 7,200,000
Price of SMT: 150 SMT = ETH
Accepted payments: ETH, BTC, Fiat
Bounty program: Active
Token role: Functional
Team Size (Number of People): 8
Number of Advisors and Partners: 9
SunMoney is a platform that enables one to invest in renewable energy sources. SunMoney Solar Group (SSG) is at the heart of the project; it is a collective investment energy company, owning/operating/having options on solar power plants with an active capacity of 20 MW. The solar panels are manufactured by the German company Bauer Energiekonzepte GmbH and have a guarantee of 25 years.
In 2018 SunMoney Solar Group intends to build power plants with 30 MW of solar energy in Germany and Hungary with the help of funds raised at the ICO. SSG will also expand its investment platform to attract third-party solar power plants.
SSG is a member of the United Nations Global Compact, UN Carbon Pricing Champions, the International Solar Energy Society and the Renewable Energy Alliance.
The platform will provide the following services:
- an opportunity to invest in solar energy.
- the possibility of mining cryptocurrency.
- consultations related to renewable energy sources.
- installation of solar power plants for third parties.
- research and development related to renewable energy sources.
- Toth Peter (LinkedIn) — CEO of HUPX, member of the board at MOATSZ, formerly CEO at Advantica Ltd., Pannergy Nyrt.
- Sergiy Yermilov (Wikipedia)— Ukrainian statesman, specialist in the field of energy and power saving. Former Minister of Fuel and Energy of Ukraine (2000-2001, 2002-2004) and chairman of the National Agency of Ukraine for the efficient use of energy resources (2009-2010).
- Ivan Nadein (LinkedIn) — n/a.
- Andreas Bauer (bauer-energiekonzepte.de) — Head of the sales department at AUER Energiekonzepte GMBH;
- Alekszej Borscs (LinkedIn) — Senior project manager at GAZPROM Germania GmbH, strategic consultants Roland Berger, previously worked at Lukoil.
- Dr Kanth Miriyala (LinkedIn) — CEO at Swych Blockchain Labs, Cryptoknights, MWW.
- Parag Arora (LinkedIn) — Chief technical officer at Glowing, Inc., formerly: manager at Paytm, founder of Plustxt;
- Divyashish Yindal (LinkedIn) — CEO and co-founder of Jacobi Partners, Testrocket Eduventures, formerly: Tech Startups consultant;
- Prateek Dimri (LinkedIn) — Entrepreneur at the residence in Nash Ventures, advisor to ICO Success Resources, Budbo, Inc., co-founder at Beauty Unraveller.
- Jacobi Partners — ICO specialists.
- 2 million Euros from private investors.
The project is based on a platform for investing in solar energy. The project also plans to hold an IPO in 2019.
Strengths of the project:
- Strategic partnerships with Bauer Energiekonzepte, UKR Teplo, Immotep.
- the project will be built on the basis of an existing business with starting investments of 2 mln Euro.
Weaknesses of the project:
- There are no technical specialists in the team; however, SunMoney has a number of advisors in solar, trading, IT and blockchain areas.
Market and Industry
According to Statista, the market for solar energy in 2018 will be worth $128 bln; it is expected that by 2023 market volume will be about $160 billion. Annual growth will be about 7.3%. Power capacity increased by 26% compared to the previous year. [https://www.statista.com/statistics/217177/global-projected-growth-of-solar-power-by-2020/], [https://www.greentechmedia.com/articles/read/solar-trends-2018-gtm-research#gs.wfrw1js]
According to the team's analysis, electricity demand is growing exponentially. The use of electricity will double over the next 20 years and increase four times over the next 40 years.
The price of electricity is also growing every year. Over the next 15 years prices will increase 2.5 times. Use of solar energy in electricity generation will grow from 1% to 30% over the next 20 years.
Comments: The market is showing growth, which implies an opportunity for the project to take a market share.
- Renucoin — a platform that provides the opportunity to invest in recurrent energy sources, including solar energy.
- Astrn — a platform for co-investment in renewable energy sources.
- Xiwatt — a platform for working with renewable energy sources which also enables its users to invest.
Summary: Unlike its competitors, the project specializes just in solar energy. SunMoney also offers users the possibility of mining SunMoney.
Engineering Features of the Platform
The platform will be built using blockchain technology and smart contracts. Blockchain is used for transactions between users (purchase/sale of solar energy package); moreover, all data from solar farms possessing special equipment for monitoring their condition and performance is recorded on the chain.
Acourding to the team, SunMoney is an already-functioning platform. The team is expanding it for 3rd party renewable energy power plants and for investments above 100,000 Euros. [http://sunmoney.solar/SunMoney_SMT_WhitePaper_v1_1.pdf].
- SSG produces electricity at its solar power plants, located in different countries.
- This electricity is sold daily to either end users or utility companies.
- Buyers pay for electricity monthly in SSG.
- New members join SSG by purchasing the Solar Package; as members they will have their own share of total production capacity based on the amount of energy purchased in watts, and enjoy a monthly payout over 25 years.
Users can also buy SunMining packages to earn money from SunMoney crypto mining over a period of 2 years.
Comments: The project is using technologies that have already proven themselves in the market.
The Sunmoney Group was founded and solar power plants were installed in 2013, and the first Sunmoney Group company was also created.
With the development of the technology and data amounts required, it is now planned to implement the following:
- 2018 Q4 - creation of a financial institution and launch of a platform for those investing over 100,000€; recruiting third-party solar power plant owners to the platform.
- 2018–2019 — installation of new solar power plants and integration of blocks.
Comments: The project has presented a step-by-step strategy for the development of the platform.
The following active modules are presented in the open repository:
Comments: The repository contains 1 module:
- sunmoney.ico — ICO smart contract module.
We have analyzed the Sunmoney site and documentation for sufficiency and consistency, to aid investment decisions.
Information about the project is contained in the White Paper, PITCHdeck and in the One Pager. The documents are available in English. The White Paper is also available in Vietnamese, Hindi, Greek, Filipino, Arabic, Korean, Chinese and French. The WP presents a description of the project; the main emphasis is on a description of the platform.
The website also provides information on the project, ICO, RoadMap, available business, markets, team and advisors. The site is available in English, Russian and Hungarian languages.
Summary: The documentation provides insight into the project. In the documentation the project is described in sufficient detail.
Percentage of tokens to be issued for sale: 72
Public ICO Start: March 15, 2018
Token Type: ERC20
Accepted Payments: ETH, BTC, Fiat
Price: 150 SMT = 1 ETH
Crowdsale Duration: 4 weeks, until April 15, 2018
Applications of SMT: Purchase of discounted investment packages, acquisition of commission rights, implementation of tokens in the SSG buyback program or on Crypto Trading platforms.
Token Limit: 10,000,000
Advantages for token holders:
Additional token issue: no
Max Goal: 48,000 ETH
Minimum Goal: 500 ETH
Comments: SunMoney will start trading on one of the popular cryptocurrency exchanges after the successful completion of the ICO.
The project allocates 3% of all SunMoney tokens. The program is open in the following directions:
Summary: The project has an extensive bounty program. All the terms of the program are specified at the link above. The bounty will be distributed at the end of the ICO.
Token and Capital Distribution
Tokens and capital are distributed according to the following scheme:
Summary: Tokens do not affect the distribution of shares in the company. The reward system is set up so that it is advantageous to buy tokens earlier.
Roadmap of the project
- 2019 — IPO.
Summary: According to the white paper, the project is planning expansion of its business in Germany and Hungary. There are plans to hold an IPO in 2019.
The team consists of 8 members and 9 advisors. Information on core members of the team (LinkedIn) is as follows:
- Gabor Eisenbart (LinkedIn) — Owner and founder. No work experience given on Linkedin.
- Dr. Levente Tóth (LinkedIn) — Owner. Also owner of Senator Apartments Budapest, teacher at Eötvös Loránd University, formerly sales manager at Kategora Hungary, trainee at KNP LAW Nagy koppany Varga and Partners.
- László Balogh (LinkedIn) — CEO. Independent Consultant on management and strategy at an undisclosed company — FMCG — Public Utility and SMEs, previously director of the South Great Plain Regional Development Agency Company.
There are 5 other people in the team.
Summary: All members of the team have indicated their affiliation to the project. The team is mainly from Hungary and also has the following specialists: A marketing director, business development director, community development director, IT security and ICO advisor, and digital marketing advisor.
Information about the project is available on a variety of popular services such as Twitter, Telegram, Bitcointalk, Github, Linkedin, YouTube and Facebook. The project has a working bounty program.
The team is conducting an advertising campaign on social media; on Twitter and Facebook there are regular news updates, and videos are actively posted on Youtube. The project has also conducted remarketing, google adwords and programmatic campaigns.
The format of articles about the project suggests that they were mainly written by the project team as reviews or by information portals as an announcement of another project staging an ICO.
Comments: Interest in the project is increasing. The marketing campaign is mainly being developed on Twitter, YouTube and Facebook.
Analysis of the SunMoney website traffic based on Similarweb.com data showed the following:
Traffic sources: https://www.similarweb.com/website/sunmoney.solar
Comments: Direct: 60.34%, referrals: 15.78%, search: 1.40%, social: 13.82%, mail: 0%
Search traffic: 1.40%, of which 100% is "organic" traffic
Referral Links: 0.1578
Analysis of the SunMoney website traffic based on data from BE1.ru showed the following:
Traffic sources: https://be1.ru/stat/sunmoney.solar
Comments: Top 5 countries for site visitors: Egypt — 18.37%, Greece — 9.02%, Switzerland — 6.31%, UK — 5.54%, Russia — 4.82%.
Referral Links: wuxiaworld.com — 36.62%, uproxx.com — 22.00%, stardoll.com — 13.64%, liquipedia.net — 7.74%, lolcounter.com — 5.94%
Social activity: Youtube — 73.12%, Facebook — 22.35%, Linkedin — 3.91%, VKontakte — 0.63%
Summary: Based on available data, it can be concluded that users are interested in the project. The team is leading an active advertising campaign on Twitter, Facebook, it is communicating with users via Telegram and posting videos on Youtube. There are publications in the media about the project. In the last month traffic to the site has increased by 400,000 people.
You can contact the developers through 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.