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Akash

Akash - marketplace of idle compute capacity for those who need it

Rating: 3.4

Official contacts
Location: N/A
Web-resources:   Whitepaper Website
Social networks: N/A
Product source tracking: https://github.com/ovrclk/akash
Details Description Risks Full analysis Team

Detailed review

Stage of product development
Development process is traced in Github but the prototype may be tested only by developers


Token description
Pre-ICO date
10.03.2018 - 15.07.2018
ICO date
16.10.2018 - 31.10.2018
Token price
N/A
Platform
Ethereum
Hard cap
20000000
Capitalization of token pool
50000000
Blockchain
Ethereum
Token distribution date
N/A
Consensus method
Escrow
N/A
ICO currencies
ETH
Bounty camping
N/A
Markets
N/A
Token functions
Means of payments
Tokens distribution
Investors (40.0%)
Rewards (30.0%)
Team (20.0%)
Reserve (10.0%)
Risks
MARKET

Tough competition among successful blockchain projects

PRODUCT

The product is not far different from competitors and does not have any significant edge Only developers are able to test the prototype

BUSINESS MODEL

Not sold tokens will not be burnt and will be held by the company for future sales Own token applied has poor rational grounds

FINANCES

It is not clear how raised funds will be distributed

TEAM

The team members are also engaged in Ovelock projects Lack of marketing and legal specialists Only 5 team members

Full analysis
Market

Akash aims to build a marketplace where users could sell their idle capacity for those who need it. Services like Akash are likely to be on demand as two major trends take place: ever-increasing amount of data stored and higher demand on its processing. The idea idle capacity marketplace is currently new and some competitors must be noted: SONM, Dadi, Golem, Dfinity, Friends and etc. These competitors are very promising and finished one demonstrated good tokensales and ROIs. The reason is that the blockchain is a good fit in these products that contributes to good community relation. Competition is tough but Akash may turn one of these success stories.

Product

Capacity providers are able to sell their surplus capacity and benefit. Akash aims to lean on data centres as their capacity is not used much so they are able to monetize slack server capacity. Slots are sold through auction between capacity providers. The winner is a provider with the lowest price bidden. Then a smart-contract is signed and stored on blockchain. If a connection breaks a new connecction is automatically created. A provider entering the ecosystem must stack AKSH tokens that are taken if it turns a bad actor. In comperison to competitors Akash is not far different from them, and it is just one of the other good blockchain applications in cloud computing industry. Team demonstrate a high activity on Github updating their product every day. The prototype is available but only developers can test it. There are some rumors about Sequoia Capital participation but in fact it was invested two years ago in Overclock – associated company

Business model

Blockchain and smart contracts are applied well but token itself has poor functions - it is only a means of payment. Providers are obligated to stack some tokens for security reasons. Tokens not sold will be held by the company for future sales that is a risk of token market supply uncertainty. ICO has rational ground.

Finances

Hardcap is 20M USD that is below the average success stories of competitors (SONM and Dadi raised 35M and 29M). Otherwise Golem has attracted only 8.6M in 2016 but Dfinity aims to attract 90M. VC investments before any tokensale are 1.2M USD. Total token pool cap is about 50M USD that is not much for these projects as well. All investors will be locked into vesting tokens for six months, with one-sixth of tokens being distributed to your wallet every month. Early investors get 30% but slots here are likely to be closed now. Next tears offer 15%, 10% and 5% with relative caps of $5.7M, $5.7M and $9.5M. Only 40% of token are for investors with 20% for team. The team does not disclose in detail how these 20M USD will be spent.

Team

Akash is a project of Overclock Labs that «develops protocols, tools, and infrastructure to make foundational elements of the internet open, decentralized and secure». The team includes 5 members with 3 developers only. CEO has wide experience in tech architecture - 2 years in IBM and 10 years in other companies including 6 years of relevant management experience in this field. CTO has software engineering experience since 2005. VP of product has been working in IT since 2000 in management positions. Team has a lack of marketing and legal professionals.

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