logo
Marketplace

CREDITS

CREDITS platform is an autonomous Blockchain system. The platform offers an extended application programming interface (API) that utilizes a Turing system capable of creating services using cycles, schedules, and unique functions. The platform offers very fast smart contract execution speeds (More than 1,000,000 transactions per second). In addition, the CREDITS platform can function autonomously and without the need for external systems participation.

Rating: 3.6

Official contacts
Location: N/A
Web-resources:   Whitepaper Website
Social networks: N/A
Product source tracking: N/A
Details Description Risks Full analysis Team

Detailed review

Stage of product development
Currently, an MVP of the platform is available. As of 25 of December 2017, the MVP allows to create a wallet, transfer CS tokens between network participants and save the transactions. The Alpha version is expected to launch in January 2018. Though some functionality can be already tested, the product is still at a very early stage and the release is only planned for June 2018 and this date is subject to change.
Returns since ICO
USD
0.5x
ETH
5.48x
BTC
1.59x
Market & returns
CS token price
Market Cap
USD
0.09430417 +6.42%
$ 14375174.00
ETH
0.00109503
24h Volume
BTC
0.00002861
$ 1234986.90


Token description
ICO date
15.02.2018 - 28.02.2018
Token price
Pre-ICO: 1ETH = 5000CS + 30% Bonus -> 1ETH=6500CS
ICO: 1ETH = 5000CS
Platform
N/A
Blockchain
Own Blockchain
Token distribution date
02.03.2018
Consensus method
DPoS + BFT
Escrow
N/A
ICO currencies
ETH , BTC
Bounty camping
More details on Bounty Campaign can be found here: https://bitcointalk.org/index.php?topic=2241121
Markets
N/A
Token functions
CS token will be used as utility token for payments within the system. Also, the CREDITS cryptocurrency can be used as a standalone currency unit outside the platform. As of December 2017, there are no agreements with exchanges to list CS tokens. However, these negotiations are now in progress.
Tokens distribution
Bounty (2.0%)
Bugbounty (2.0%)
Founders (15.0%)
Operations (20.0%)
Advisors (1.0%)
Pre-ICO & ICO (60.0%)
Risks
MARKET

There are already several successful platforms with large customer base, such as Ethereum, Lisk, Waves, and Stratis; that is why it might be hard for CREDITS to expand its network and attract new customers due to network effect.

PRODUCT

Though some functionality can be already tested, the product is still at a very early stage and the release is only planned for June 2018 and this date is subject to change. The roadmap is only given for 1H 2018 and is split by the product development stages. It gives only the highlights of development. In general, the roadmap could be more detailed.

BUSINESS MODEL

CREDIT does not explain how the exact fee level will be calculated. Therefore, the commercial viability of the platform is not clear. Mining of new tokens will not be available on the platform. That is why, it might be hard to attract new users on the platform.

FINANCES

The Hard Cap of CREDITS is $20M, the Soft Cap is $15M. The Minimum Cap of $1.5M has already been reached. The Soft Cap is well above the median size of the investment round of companies at the same stage. (US software startups, seed stage, Pitchbook). As CREDITS will sell 60% of tokens during pre-ICO and ICO, the company valuation will be around $25M in Soft Cap scenario and $33M in Hard Cap scenario. These figures are 3X and 4X times higher than the median US software seed stage post-money valuations respectively. CREDITS will reserve 15% of tokens for the core team. The team bonus then will be around $3.75M and $5M in Soft Cap and Hard Cap scenarios respectively. Now, the team bonus is not bundled to any KPI and does not have vesting scheme. CREDITS does not provide any financial forecasts or assumptions for their growth. The given expenditures’ structure is too broad and is not detailed.

TEAM

The CEO of CREDITS – Igor Chugunov – has previous executive experience. However, this experience was in the area of marketing and advertising, not in tech. He previously worked at IT-finance company but again focused on marketing. Business Development & Marketing specialists of CREDITS do not have enough relevant experience prior to joining the company. What is more, the whole team is spread around the globe according to Linkedin. That is why robust development of the project might be at risk.

Full analysis
Market

CREDITS is entering the market of Blockchain platforms. The market cap of cryptocurrencies went up to over $600B during 2017 and received attention from the global central banks. Main factors likely to affect the future development of cryptocurrencies are, in our opinion, interventions by the government and central banks and questions on how the sector will be regulated. Apart from Ethereum, there are other large companies creating Blockchain platforms which already gained high market cap (Lisk, Waves, Stratis). That is why the competition on the market of Blockchain platforms is stiff and it might be hard for CREDITS to attract significant amount of customers.

Product

CREDITS aims to create a single distributed decentralized platform built on Blockchain operation principles, built-in self, executing smart contracts, and the internal CREDITS cryptocurrency. The platform will provide the community with its API, SDK and Java virtual machine to integrate new services developed by the platform users. Currently, an MVP of the platform is available. As of 25 of December 2017, the MVP allows to create a wallet, transfer CS tokens between network participants and save the transactions. The Alpha version is expected to launch in January 2018. Though some functionality can be already tested, the product is still at a very early stage and the release is only planned for June 2018 and this date is subject to change. Now, the program code is not available on GitHub but the team says it will be published after the release of Alpha version. The roadmap is only given for 1H 2018 and is split by the product development stages. It barely describes the highlights of product development. In general, the roadmap could be more detailed.

Business model

CREDITS platform users will have to pay in CS tokens for any use of the platform other than data reading. However, team does not explain how the exact fee level will be calculated. Therefore, the commercial viability of the platform is not clear. Companies can transfer part of their operations to the CREDITS blockchain, and financial services can use blockchain and self-processing smart contracts to build algorithms for the services. CREDITS is the platform to create products and services by third-party users. The platform does not provide coin mining. That is why, it might be hard to attract new users on the platform.

Finances

CREDITS will issue 1B tokens in total. The sale consists of two phases: pre-ICO is held from 10th Nov 2017 to 31st Dec 2017. The bonus for pre-ICO is 30%. The public Sale will be held 15th Jan 2018 - 15th Feb 2018. The minimum contribution in pre-ICO is 0.01ETH. The price of token for Pre-ICO including bonus is 6500CS=1ETH. The price for Public Sale will be 5000CS=1ETH. The Hard Cap of CREDITS is $20M, the Soft Cap is $15M. The Minimum Cap of $1.5M has already been reached. The Soft Cap is well above the median size of the investment round of companies at the same stage. (US software startups, seed stage, Pitchbook). As CREDITS will sell 60% of tokens during pre-ICO and ICO, the company valuation will be around $25M in Soft Cap scenario and $33M in Hard Cap scenario. These figures are 3X and 4X times respectively higher than the median US software seed stage post-money valuations. CREDITS will reserve 15% of tokens for the core team. The team bonus then will be around $3.75M and $5M in Soft Cap and Hard Cap scenarios respectively. Now, the team bonus is not bundled to any KPI and does not have vesting scheme. CREDITS does not provide any financial forecasts or assumptions for their growth. The given expenditures’ structure is too broad and is not detailed.

Team

The CEO of CREDITS – Igor Chugunov – has previous executive experience. However, this experience was in the area of marketing and advertising, not in tech. He previously worked at IT-finance company but focused on marketing. CTO of CREDITS – Evgeniy Butyaev – has 10 years’ experience of software development and 2.5 years’ experience in Blockchain. Business Development & Marketing specialists of CREDITS do not have enough relevant experience prior to joining the company. What is more, the whole team is spread around the globe according to Linkedin. That is why robust development of the project might be at risk.

Social networks
© ICO Scoring - ICO Analytical platform backed by investors and financial experts. All rights reserved 2018