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MyWish

MyWish is a mobile application and a website where everyone can create and manage a smart contract. The simplest contract consists of three parts: wallet (source), conditions, and wallet (destination). The conditions determine when the transfer of funds must be done. The platform supports full life cycle of a contract: creation, starting, monitoring and completion. It provides the tools for management and customization of personalized contracts. A special emphasis in the platform is made on the implementation of contracts like "last will" initiated due to the activity / inactivity of the user or initiated by trusted users of the user.

Rating: 2.8

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

Detailed review

Stage of product development
A beta version of the platform and mobile application is available (in which available the functionality of creating elementary smart contracts)
Returns since ICO
USD
0.11x
ETH
0.08x
BTC
0.18x
Market & returns
CS token price
Market Cap
USD
0.02370611 -2.63%
$ 467106.00
ETH
0.00027431
24h Volume
BTC
0.00000718
$ 5729.06


Token description
ICO date
25.10.2017 - 25.11.2017
Token price
Receive 30% a bonus at sale of the first package (19%) of tokens.
Receive 20% a bonus at sale of the second package (19%) of tokens.
Receive 10% a bonus at sale of the third package (19%) of tokens.
Platform
Ethereum
Blockchain
Ethereum
Token distribution date
25.11.2017
Consensus method
There are no data
Escrow
There are no data
ICO currencies
ETH , BTC
Bounty camping
Bounty program is 1.9% of the total volume of tokens
Markets
N/A
Token functions
Token WIL works inside the architecture of the project to maintain its value. Without buying the required number of tokens, the user will not be able to create a smart contract.
Tokens distribution
A Team Bonus (11.0%)
Bounty (2.0%)
Pre-ico (3.0%)
Sale during ICO (84.0%)
Risks
MARKET

The market for services related to smart contracts is highly competitive and has low barriers to entry. The company's materials completely lack the go to the market strategy (GTM) Last will contracts, as one of the main advantage of the project, does not higlight my will among competitors, such as Etherparty, BlockCAT, etc.

PRODUCT

The product is so simple that others would copy it easily. (Product does not have sustainable competitive advantages). The project lags behind the product development roadmap provided on the website.

BUSINESS MODEL

The project is focused on a small segment of the "last will" contracts. The business model is almost similar to such projects as etherparty.io and does not have unique positioning and unique components.

FINANCES

The maximum amount of funding during ico will be $ 20 million, which is 10 times over the average size of the round (according to Pitchbook) for the seed round (US market) средний размер раунда (по данным Pitchbook) для seed round (US market) The financial forecast provided by the project are unrealistic Calculation of financial forecasts is made taking into account an optimistic scenario for the value of the contract (0.5 ETH for 3 years).

TEAM

According to ICOscoring, the team lacks a strong BDO specialist and sales specialists. The bulk of the team members are simultaneously employees of the DDG LLC development company, created by Vladimir Tikhomirov.

Full analysis
Market

According to HypeCycle from Gartner, the exit of smart contracts to the mass market will take place not earlier than in 5 years. At the same time, high competition is expected in the segment due to low barriers to entry. According to Etherparty, the market is $ 24 billion for all smart contracts using Ethereum. The annual growth rate of the market (CAGR) is projected at the level of 61.5% until 2021.

Product

The product is an application for creating smart contracts, aimed at ordinary users, not just programmers. Unlike competitors MyWish, first of all, concentrates on specific tasks and develops contracts to solve them. In other words, MyWish comes from the users' need for a particular solution: a wedding contract, a will, a lost key, etc. Road map of the platform development project is not disclosed.

Business model

The launch of the platform will allow to optimize the process of creating and testing smart contracts, and using WIL tokens simplifies the user's interaction with the platform and allows buying, testing and executing smart contracts on the platform. WIL token is the fuel required for the platform to function. No contract can be created or executed without payment of WIL tokens. After receiving the payment in the form of a token, part of the funds remains in the MyWish platform for subsequent payments as part of the Joule system and for paying to third-party developers for their contracts. The other part is exchanged for ETH to pay gas for the creation of contracts. For a user of a platform that wants to issue a contract for 3 years, the average cost of such a contract is approximately 750 WIL (0.5 ETH at the rate at the time of ICO).

Finances

Each WIL will be sold for.00067 ETH, about $.2 USD that means that hard cap for races - sales makes $ USD 20,000,000. Soft cap is planned to establish equal $ USD 1,000,000. According to WP in December, 2017 the company expects net profit (the saved-up result) at the level of $2.97 million, at the same time the forecast is absolutely unrealistic and not reasonable the current operational indicators.

Team

The project team includes 6 people, 5 of whom are IT specialists and 1 marketer. The CEO has a Ph.D. in Computer Science. The bulk of the team members are simultaneously employees of the DDG LLC development company, created by Vladimir Tikhomirov.

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