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Upcoming ICOs

52Upcoming ICOs 2Ongoing ICOs 140Past ICOs
Description
Period
Raising funds
Risks
Score
Links
Reserve
Reserve Protocol - stable coin backed to USD with the collateral portfolio
Start
TBA
End
TBA
N/A
Market
Product
Team
Model
Finance
Market

- High competition between stable coins

- Market glut of crypto projects, product doesn’t meet real business’ demand which is going to be the main driver in the industry

- Bad timing for further products (Decentralized Phase & Independent phase): Gartner Hype Cycle

Product

- Sharp decrease of collateral value – no dividends for share token holders

- Bad valuation for Share token – lack of demand

- The absence of exact product view – potential pivot (usual for startups)

Team

- Bloated staff (might be too big team for startup, but not critical)

- The absence of experienced portfolio managers, which is important for their collateral part of business

Model

- Potential losing of money from bad investment in collateral

- The model tries to be less dependent on technology, than competitors' ones - that is the problem many new projects try to overcome - as a good stablecoin must avoid human intervention

Finance

- High valuation, according to gossips (over 50M USD)

3.6
Medium
NYM
NYM - authentication service with the focus on privacy
Start
TBA
End
TBA
N/A
Market
Product
Team
Model
Finance
Market

- The product may become niche on market with the scalability obstacles

- Free centralized services may be more user-friendly for users

- unclear business plan

 

Product

- the service may lose the competition with free centralized services, being non-free and slower

- the roadmap is unavailable

Team

- it is unclear who will develop the project, and who will just support

Model

- unclear adoptability on platforms with free authentication.

- unclear token specification

Finance

- no financial metrics available

- it is unclear, whether Binance participate in equity or not

3.8
Medium
Tangram
Open-source transaction blockchain platform, which plans to make free, fast and secure digital payments. Potentially private distributed ledger network.
Start
TBA
End
TBA
$ 6 000 000
Market
Product
Team
Model
Finance
Market

At the current moment beyond the “crypto-hype” people looking with doubt to such global blockchain projects, the number of people who looking forward for large platforms sharply decreased. Also, main law and technological problems aren’t solved – Visa and MasterCard are still better and all countries have their specific view on blockchain-technology. Another risk – the absence of competitive advantages. Volatility on the crypto-market.

Product

The main risk is presence of some technological imperfections, product is global and it is crucial to be available to service all your clients qualitatively. Also, we can’t determine their product, descriptions are too abstract, they want to build something global but it’s unclear what is their exact product.

Team

Team isn’t very big and we can’t find any outstanding experience. If their product would be successful they will meet need to hire more people.

Model

Their business model relates to the number of users (community) and token popularity which makes it sensitive to the market and product risks

Finance

They aren’t going to take fees from their users which isn’t okay for future cash inflows. Lack of description of their token further functions, which hinder to valuate this token.

2.6
Low
Handshake
Handshake is a decentralized, permissionless naming protocol compatible with DNS where every peer is validating and in charge of managing the root zone with the goal of creating an alternative to existing Certificate Authorities. The Handshake protocol maintains the root zone file in a decentralized manner, making the root zone uncensorable, permissionless, and free of gatekeepers.
Start
TBA
End
TBA
$ 10 200 000
Market
Product
Team
Model
Finance
Market

- The project enters a practically monopolized market.

- ICANN is the only way to create a top-level domain right now. The entire market belongs to this organization.

Product

- For wide distribution, the project needs implementation in large corporations and obtaining legal status in various jurisdictions.

Team

- The team consists only of developers, no business representatives.
- The central organization does not exist.
- The legal component of the project is not clear.

Model

- It is not clear whether large corporations and organizations will agree to move to the auction system.
- It is difficult to predict how such a technology will be taken by governments and ICANN, created by the US government.
- Legal issues are not covered. The project could face pressure or prohibition from centralized bodies such as ICANN and governments of different countries.

Finance

- $ 136 million of initial capitalization, which may lead to a strong fall in prices at the initial stage, in case of early listing.

- Experimental distribution system. It may turn out to be a strong point of the project or a trap for the project because it is very difficult to imagine how the network will be managed.

4.0
High
Urbit
Urbit - distributed cloud computing network
Start
TBA
End
TBA
N/A
Market
Product
Team
Model
Finance
Market

- The difficult idea for the market

- Politics risk due to the founder's manifesto

Product

- Idealistic motives behind the project's structure and goals

Team

- The founder background and vision may push away some partnerships and prevent the adoption

Model

- The role of tokens is still not finalized

Finance

- The project is not going to accept additional funds

4.2
High
Ferrum Network
Ferrum is a fast interconnectivity network designed for decentralized financial applications. Ferrum brings blockchains together and enables fast and inexpensive transactions without taking custody of user's assets.
Start
TBA
End
TBA
$ 6 000 000
Market
Product
Team
Model
Finance
Market

None of current DEXs have solved the main technical problem – low speed and liquidity.

The other problem is advantages of larges exchanges, which have huge number of users and it is easier for them to create a decentralized network.

In addition, there is a big law risk – SEC has not approved current DEXs, nut USA is the biggest market for such platforms. The situation is that the first good project is going to win the competition and capture the market. 

Product

Now Ferrum is developing two main products – DEX and wallet. Both of the products have many other already existing analogues.

Team

There are 8 people and 5 advisors. Half of a team are from investment funds and the other half has some technical background. There is one important moment – most of the founders haven’t changed their main workplace in LinkedIn.

Model

Ferrum Network has strategic partners - TLG Ventures, KOSMOS, Token Research Group. Some of their team members represent these funds.

Finance

Ferrum’s business and token’s cost fully depend on the number of users. During the communication with the team, they have mentioned that their main market is USA, but it is still big legal risk with American jurisdiction. In addition, business is built on cryptocurrency market and if it is going to fail this project will be unclaimed.

3.2
Medium
Kava
A decentralized fast-finality blockchain for interoperable payment channel networks.
Start
TBA
End
TBA
N/A
Market
Product
Team
Model
Finance
Market
  • The very high competition on the decentralized exchange market
Product
  • The product is on the very early stage of the development
Team
  • Founders do not have relevant experience in the field of the blockchain
Model
  • The platform should have a low commission fee to be attractive for users, as a result, the token price should be low.
Finance
  • The project is overvalued.
3.0
Medium
Elrond
Elrond - blockchain platform with adaptive state sharding and Secure Proof-of-Stake
Start
TBA
End
TBA
$ 15 200 000
Market
Product
Team
Model
Finance
Market

- Tough competition from other blockchain platforms

Product

- No public release is available

Team

- Team previous experience spans many not widely known Romanian companies

Model

- Lack of outstanding features for tokens

Finance

- High valuation for main sale and private investors with the high potential of cost reduction in the budget

4.0
High
Purple
Purple is a blockchain protocol and platform for highly-scalable dApps development.
Start
TBA
End
TBA
N/A
Market
Product
Team
Model
Finance
Market
N/A
Product
  • There is no public testnet so the claimed throughput of ~13000 TPS cannot be validated
  • The current version of the whitepaper only explains the underlying technology behind the protocol but is still missing certain implementation details and the crypto economics
Team
  • Currently, there is no information about the team members on Purple website.
  • It can be seen from social media and GitHub that now there are only two people contributing to Purple right now
Model
N/A
Finance
  • There is no information about the token lockup schemes for the different token-holders
  • Currently, the amount of required funds has not been published
  • The use of proceeds distribution is not given
3.2
Medium
Nervos
Nervos is a network of scalable and interoperable blockchains built on top of an open network, built for the enterprise.
Start
TBA
End
TBA
N/A
Market
Product
Team
Model
Finance
Market
  • There are plenty of projects that promise to get high scalability, security, and decentralization for dApps, so the competition in this market segment is fierce
  • The Launch of Sharding&Plasma in Ethereum may lower the potential growth for Nervos.
Product
  • There is little activity on GitHub
  • There is no detailed roadmap for building the ecosystem
  • The current stage of product development is unclear
Team
  • Some of the team members do not mention Nervos as a workplace on LinkedIn.
  • The team members are spread around different timezones. They are located in China, Belgium, USA, 
Model
N/A
Finance
  • There is currently no information available about the token and financial metrics.
3.6
Medium
Near Protocol
Near - blockchain and decentralized computing platform with mobile devices connected
Start
TBA
End
TBA
N/A
Market
Product
Team
Model
Finance
Market

- The designed network see significant obstacles from the telecom industry, not prepared for an effective maintenance of such industries

- Tough competition in the blockchain industry

Product

- No prototype available

Team
N/A
Model

- Token functions are not described in details

Finance

- No financial information available yet

3.4
Medium
Zeppelin OS
ZeppelinOS - operating system for user-friendly creating of smart-contracts and their continuous upgrading
Start
TBA
End
TBA
N/A
Market
Product
Team
Model
Finance
Market

- "Network effect" entry barrier

- The new OS may add more complexity to the blockchain infrastructure

- Uncertain need globally in the solution

Product
N/A
Team

- Lack of experienced staff from well-known companies

Model

- Uncertain activity of users in vouching

Finance

- No financial information available

3.8
Medium
Elixxir
Elixxir works on a blockchain technology providing users with a confidential and secure decentralized platform.
Start
TBA
End
TBA
N/A
Market
Product
Team
Model
Finance
Market
  • High level of competition in the field of a scalable private blockchain

  •  
Product
  • There is no link to GitHub to track the source code
  • The roadmap is not given
  • The current stage of the product development cannot be validated
Team
  • Some of the team members have empty Linkedin profiles
Model
N/A
Finance
  • The financial metrics have not been released yet.
  • The token distribution structure has not been released yet.
3.6
Medium
Leep Network
Leep Network - the scalable and secure blockchain working as ACID compliant database and the platform for smart contracts
Start
TBA
End
TBA
$ 13 000 000
Market
Product
Team
Model
Finance
Market

- Tough competition on the market of scalable blockchains

- Edge on competitors is not clear due to the lack of technology described

Product

- No prototype

- No roadmap

- Lack of details in the technology description

Team

- Unexperienced team with doubtful achievements

Model

- No exceptional token functions (the traditional model is used)

Finance

- Unclear use-of-proceeds plan with no significant adjustments

- High token pool capitalization for the project with no prototype

2.8
Low
Peaq
Peaq - tokenization platform built on DAG
Start
TBA
End
TBA
N/A
Market
Product
Team
Model
Finance
Market

- The market has not seen successful tokenization projects yet, raising the risk of remaining the idea only "theoretical"

Product

- No prototype available

Team

- The team may be involved in other activity in their companies

- No distinguished and outstanding background in the team

Model
N/A
Finance

- High peaq token pool valuation - 62M USD

2.8
Low
Dora Network
Dora Network - high-performance public blockchain executing dApps with high-concurrency using Vertical Expansion, Horizontal Expansion and DVBC consensus.
Start
TBA
End
TBA
$ 12 300 000
Market
Product
Team
Model
Finance
Market

- Fierce competition from other scalable blockchains

- The unclear need for high TPS from the demand side

- No successful projects presented even the half of the offering TPS

Product

- No prototype

- No whitepaper

- Too long roadmap

Team

- The team does not have LinkedIn pages

- The team is from Cheetah Mobile - distinguished company but with no relevance to blockchain technologies

Model

- No details regarding the model and tokens

Finance

- Not distinguished funds on board

- No financial info available

3.2
Medium
ARPA
ARPA - platform and network providing secure multi-party computations and data sharing
Start
TBA
End
TBA
N/A
Market
Product
Team
Model
Finance
Market

- No one on the market has solved the problems that ARPA aims to solve

- Fierce competition from the similar projects

Product

- ARPA promises to solve significantly difficult problems of multi-computations and security

- No prototype

- No whitepaper

- Mainnet release may be considered as late - Q2 2019

- The core technology is only to be released in Q1 2020

Team

- Lack of legal and marketing specialists

- Lack of strong managers with the proven track record in successful projects

Model

- Token functions are not announced yet

Finance

- Financial info is not announced yet

3.4
Medium
BHex
BHex - crypto exchange and custody&clearing service
Start
TBA
End
TBA
N/A
Market
Product
Team
Model
Finance
Market

- The offer is likely to give no significant edge on competitors

Product

- No prototype available

Team

- Team members achievement and profiles are hardly available for proofing

Model

- Legal risks regarding security functions of the token

Finance

- No information regarding valuation

- Seed bonuses have no lock-up period that increases the risk of the mass sell-off

- Uncertain purpose of "Investors Protection Fund"

- The structure of the coming token sale is unknown

3.8
Medium
TODA Network
TODA Network develops a tool that will allow every ledger-based blockchain to process millions of on-chain transactions per second, without changing their protocol.
Start
TBA
End
TBA
N/A
Market
Product
Team
Model
Finance
Market

- TODA.Network has a very strong competitor in its field - Bloxroute.

Product

- The intended throughput of the protocol is unclear. - It is unclear how both decentralization and security will be achieved, along with high scalability. - The team claims that the project was founded in 2015. However, the first traces that were discovered date back to November 2016. - The last GitHub commit was made more than a year ago. - The roadmap is not available now. - The company is registered at the same address as PrivacyShell - the previous company of the founders.

Team

- The roles in the project of "Honorary Founding Members" and "Executive Team" are unclear. - The team is scattered around San Francisco Bay Area and Ontario, Canada. - Several founding members do not mention Toda.Network as a workplace on Linkedin.

Model

- The information about the fees calculation algorithm is unclear.

Finance

- Token metrics are to be announced.

3.4
Medium
Intervalue
Intervalue is blockchain 4.0 project.
Start
TBA
End
TBA
$ 22 500 000
Market
Product
Team
Model
Finance
Market

The blockchain market is extremely competitive nowadays.

Product

It is strange that all publically available code is written on JavaScript.

Team

CEO and CTO has mainly scientific background, and have not built any company before. No publically available proof of team’s experience.

Model

There is no difference with current market leaders.

Finance

Top-tier funds are not involved in project. Too high share of tokens for foundation.

3.4
Medium
Newton Protocol
The Newton project is a protocol-based economy infrastructure, focusing on a decentralized business agreement, which will serve many industrial applications in the future.
Start
TBA
End
TBA
$ 32 000 000
Market
Product
Team
Model
Finance
Market

Fierce competition on blockchain market. Legal issues with card payment with crypto assets.

Product

No focus of the product – all in one. No clear roadmap of product development.

Team

Founder and co-founder of Newton Protocol already took part in ICO of Elastos just half year ago. Founders team does not have deep expertise in blockchain development.

Model

The model implies extremely strong network effect, as a result, first mover grab the most of market. The model is typical for infrastructure projects.

Finance

No information has been announced. Project has at least 13 angel investors what is strange.

2.6
Low
Mind.AI
Mind AI is an artificial intelligence engine and an ecosystem that was created to offer an entirely new approach to AI.
Start
TBA
End
TBA
$ 50 000 000
Market
Product
Team
Model
Finance
Market

The large corporation highly dominates AI market.

Access to large amounts of data is crucial for development AI.

Product

No prove of such AI conception in any other sources.

It is easy to create MVP, but almost impossible to develop industrial implication.

Team

Team does not have blockchain and AI background.

Model

Not clear role of tokens.

Blockchain does not create additional value.

Finance

The project is substantially overvalued.

2.4
Low
Celo
Celo is a platform for fast, secure, stable digital payments to any mobile number at a fraction of today’s cost.
Start
TBA
End
TBA
N/A
Market
Product
Team
Model
Finance
Market

• The regulation is not ready for this project.

Product

• The value of new stable cryptocurrency is unclear.

Team
N/A
Model
N/A
Finance

• The project does not organise ICO.

4.2
High
Beyond Protocol
Beyond protocol facilitate a universal protocol for IoT communication, monetization and autonomy.
Start
TBA
End
TBA
$ 10 000 000
Market
Product
Team
Model
Finance
Market

The project has strong competitors with a realised product.

A current patnerships do not create substantial value.

Product

The product is not ready, the clear roadmap has not been presented.

The security mechanism does not consist with the blockchain technology.

Team

The project has only 3 people in the team.

Only one team member has an experience with blockchain.

Model

No details about token economics has been presented.

Tokens would comply ERC #780 standard.

Finance

The project is overvalued.

A planned usage of funds have not been presented.

2.2
Low
Covalent
Covalent is a privacy-protected data network that utilizes a decentralized computing network.
Start
TBA
End
TBA
N/A
Market
Product
Team
Model
Finance
Market

- Plenty of strong competitors in the intersection of AI and blockchain.

Product

- There is no roadmap available.

- It seems that the product is now on a proof of concept stage. No private beta.

Team

- 6 out of 8 team core team members do not claim Covalent as a workplace on LinkedIn.

- The team is scattered around several timezones and located in San-Francisco, Boston, Chicago, Princeton, and Shanghai.

- There are no team members with blockchain experience.

- The co-founder does not have business experience.

Model

- There is little information available about the token role.

Finance

- No token metrics have been published yet.

3.4
Medium
Helium
Helium is a decentralized machine network that enables machines anywhere in the world to wirelessly connect to the Internet and geolocate themselves without the need for power-hungry satellite location hardware or expensive cellular plans.
Start
TBA
End
TBA
N/A
Market
Product
Team
Model
Finance
Market

A high competition on IoT market.

Integration with an exsisting IoT is the most important.

Product
N/A
Team

The most part of the current team has joined in Dec 2017 - Jan 2018.

There are 94 employees in Helium Inc. and Helium System Inc. The connection between companies is unclear.

Model

Gateways will slow down the network deployment.

Finance

No financial information has been announced.

3.8
Medium
Beam
Beam - scalable and private blockchain
Start
TBA
End
TBA
$ 8 000 000
Market
Product
Team
Model
Finance
Market

- The competitive market of private blockchains

Product

- The concept does not offer anything new for the industry

- PoW consensus algorithm does not align with the market trends

Team

- lack of legal specialists that are recommended for privacy blockchains

- lack of strong corporate experience in distinguished well-known companies

Model

- token model does not far differ from competitors

Finance

- High total token pool valuation even considering the special operation model

3.2
Medium
Monet Network
MONET is an open-source infrastructure for distributed mobile peer-to-peer applications.
Start
TBA
End
TBA
N/A
Market
Product
Team
Model
Finance
Market

High competition in the sphere of protocols for the sharing economy. Monet Network is not the only attempt to serve marketplaces with blockchain technology. Other solutions, such as Origin, which is built on Ethereum, are focussed on the same market niche, and count with more developers and external funding.

Product

Monet was expected to go live in June 2018 with a blockchain interface and mobile SDK. The team does not present detailed information of what was achieved so far. The roadmap is mediocre.

Team

One of the co-founders does not have any work experience prior to joining Monet Network. Overal the core team members do not have vast experience before founding Monet Network. The team consists only of 3 members.

Model
N/A
Finance

No token metrics have yet been released.

2.8
Low
Sovrin
Sovrin is building a decentralized protocol for self-sovereign online-identity.
Start
TBA
End
TBA
N/A
Market
Product
Team
Model
Finance
Market

- The main competitors of Sovrin are KYC platforms, such as Coinfirm, KYC Legal, Civic.

Product

- The Core product was developed by Evernym, not by Sovrin.

Team

- Most of the team members had corporate careers and do not have previous startup experience. 

- The core team members do not have blockchain experience.

Model
N/A
Finance

- The token metrics have not been disclosed yet.

- It is unclear which token standard Sovrin will use.

3.8
Medium
Amino
Amino - decentralized infrastructure for cloud computing
Start
TBA
End
TBA
N/A
Market
Product
Team
Model
Finance
Market

• Strong competition from other cloud computing blockchain projects

• Not significant edge on competitors

• Amino will release the product after competitors

Product

• Testnet is about to be launched only in Q1 2020

• No prototype available yet

Team

• The team appears to be too academic and suffers from the lack of experienced business leaders

Model

• Three-layer node architecture may turn too complicated and ineffective

Finance

• Financial information is not available

3.8
Medium
Solana
Solana builds a scalable blockchain with 710k TPS.
Start
TBA
End
TBA
N/A
Market
Product
Team
Model
Finance
Market

- High competition in the field of scalable blockchains. Solana is relatively late in the game with quite a few projects launching their mainnets in the next few months

Product

- High competition in the field of scalable blockchains. Solana is relatively late in the game with quite a few projects launching their mainnets in the next few months

- Roadmap to scaling and adoption is not yet clear

- No major partnership announcements yet

- Lack of business substance (e.g. potential use cases) and a clear list of features in the current whitepaper.

Team
N/A
Model
N/A
Finance

- Currently, the token details have not yet been publicly released.

- Tokens will be distributed in Q1 2019, which means investors’ funds will be locked for quite a while.

4.0
High
Cartesi
Cartesi - platform for the development and deployment of scalable decentralized applications and distributed cloud computing
Start
TBA
End
TBA
(ETH) 40 000
Market
Product
Team
Model
Finance
Market

• Tough competition and lots of projects combining cloud computing and blockchain

•  Weak hype around the project that may be a signal of  poor marketing activity - the risk of future obstacles in promotion

Product

• No prototype available

Team

• Lack of legal and marketing specialists

Model

• Users do not have much motivation to hold tokens for a long-term period

Finance

• High total token pool valuation

3.6
Medium
BCL
Japan's scalable public blockchain for enterprises based on IoT
Start
TBA
End
TBA
$ 10 000 000
Market
Product
Team
Model
Finance
Market

• Tight focus on the local Japanese market

• Strategy includes a production of IoT hardware that sound as a weak point in the strategy

Product

• Unclear and not detailed roadmap

• The project is in its early stage - demo

Team

• Lack of legal and IoT specialists

Model

• Some of the token functions do not require the blockchain technology implemented

Finance

• Overvalued token pool capitalization – 50M USD

3.6
Medium
MANX (Macrochain)
MANX is building a secure and scalable decentralized protocol.
Start
TBA
End
TBA
$ 30 000 000
Market
Product
Team
Model
Finance
Market

- High competition in the field of scalable blockchains. MANX is relatively late in the game with quite a few projects launching their mainnets in the next few months

- After the growth of the throughput of the largest cryptocurrencies (sharding, plasma and other technologies) the attention to the later-introduced scalable blockchains may fall.

Product

- Currently, the quantum computers are far from adoption so the core product of MANX might not be demanded by the market.

- Currently, the project is on a concept stage. The Testnet is only expected in March 2019.

- The public chain launch is only expected in May 2021.

Team

- The experience of some of the team members cannot be validated.

- The team is scattered around USA, Canada, and China.

Model

- The token value added is unclear.

Finance

- Vesting policy has not been revealed yet.

- The company valuation at $100M seems too high.

- The use of proceeds is not given.

3.6
Medium
Hadron
Hadron - platform and marketplace of idle computing power and freelance tasks
Start
TBA
End
TBA
N/A
Market
Product
Team
Model
Finance
Market

Tough competition among other cloud computing projects

Product

The product is still uncertain due to not clear description and lack of detail

No whitepaper and roadmap published yet

Team

Team members resposibilities are uncertain

Lack of blockchain, legal and marketing experience in the team

Model

Token functions are not clear now

Finance

No financial information available now

Huge uncertainty regarding a weight of mined coins

3.2
Medium
Contents Protocol
Contents Protocol - Video-on-Demand platform and ecosystem setting transparent terms and conditions for content creators and consumers
Start
TBA
End
TBA
$ 20 000 000
Market
Product
Team
Model
Finance
Market

Contents Protocol does not align with VoD market trends and attract investments aiming to achieve not clear competitive advantage

Product

Technical specifications are not available

No detailed Whitepaper available

It is impossible to check a prototype

Roadmap is not detailed

Team

Most of team members do not provide their LinkedIn profiles

Lack of experienced blockchain developers

Model

Blockchain does not add significant value to the product

Finance

Maximum cap is overvalued considering lots of work already done

3.8
Medium
Chia
Chia – blockchain with Proof-of-Space and Proof-of-Time consensus algorithm
Start
TBA
End
TBA
$ 150 000 000
Market
Product
Team
Model
Finance
Market

Fierce competition from other blockchains with better characteristics

Burstcoin is vulnerable to attacks just in theory, but has never faced up to them in fact

It is not clear how Proof-of-Time will turn a competitive edge on Burstcoin

Proof-of-Space blockchains have their community but are not widely used

Product

No code is written now

Chia criticizes Bitcoin for being eco-harmful – this critics is questionable

Team

The team is still hiring its core developers

Lack of marketing and legal specialists

Model

Legal uncertainty regarding some security features of the token

Finance

150M USD of Hardcap seems to be overestimated

Token pool capitalization is impossible to be evaluated

Financial metrics are unclear

Dividend policy and capital distribution are unclear

3.8
Medium
Jura
Jura – blockchain, ecosystem and DAG platform with the high level of scalability and decentralization
Start
TBA
End
TBA
$ 20 000 000
Market
Product
Team
Model
Finance
Market

 • Fierce competition from other blockchains and projects solving the similar problem

Product

• No prototype available

• Unclear specifications of TPS

• Jura aims to develop the product too fast having nothing for now, so the roadmap is likely to be a subject of change

Team

• The doubtful issue regarding mfun.network

• Lack of marketing and legal specialists

• Advisors are not disclosed

Model

• Poor token functions

Finance

• Early investors are given a bonus up to 60% with 40% of tokens with no lockup

• Too high token pool capitalization both for seed and public investors, considering no prototype available

3.0
Medium
The Graph
The Graph – protocol for building decentralized applications on Ethereum quickly and for fast extracting data recorded on blockchain
Start
TBA
End
TBA
N/A
Market
Product
Team
Model
Finance
Market

• The project is focused on Ethereum blockchain only that we consider to be risky

• Lack of strong business logic in describing the value proposition

Product

• Whitepaper is not released

• Value proposition is questionable

Team

• Lack of marketing, business and blockchain specialist

Model

• The token functions are not clear now, and it is questionable whether the project needs this token

• Monetization model in unclear

Finance

• Financial metrics are not released yet

3.4
Medium
Devvio
Devvio - blockchain with advanced scalability, stability, privacy and security
Start
TBA
End
TBA
$ 40 000 000
Market
Product
Team
Model
Finance
Market

 • Fierce competition from other blockchains

• The strategy has a lack of focus and tries to attract as many groups of users as possible

• Projects with stable coins are failing on the market and usually require too much trust

Product

• No prototype available

• The team promises too high TPS rates – 8M

• Too complicated system with lots of modules to be developed

• Too fast roadmap for such a development process

Team

• The team does not manage the ICO process by itself and engage Token Market

Model

• Unclear monetization model

Finance

• Unknown terms for early investors

• Too high token pool capitalization considering no prototype available

• 15% of funds raised are dedicated to covering ICO campaign, that is too much

3.2
Medium
Raven Protocol
A decentralized & distributed deep-learning training protocol.
Start
TBA
End
TBA
$ 10 000 000
Market
Product
Team
Model
Finance
Market

 Recently, there were many decentralized cloud-computing ICOs launched so the market competition for Raven might be tough.

 Technical details of Raven are unavailable and the competitive advantage is unclear.

Product

 The product is at the proof-of-concept stage.

 The Mainnet Launch is only expected in September'19 and it is subject to change.

Team

 The team is scattered between Hong Kong and India.

 2 out of 5 claimed team members do not mention Raven as a workplace on LinkedIn.

Model
N/A
Finance

 The team does not explain how the money raised will be spent.

 The token issue scheme planned for the 5 months after TGE may devaluate the token price significantly.

3.6
Medium
SuperBloom
SuperBloom is a decentralized platform for trading crypto assets and participating in private sale events.
Start
TBA
End
TBA
$ 29 000 000
Market
Product
Team
Model
Finance
Market

The regulation behind managing and investing funds might be a significant barrier to growth for SuperBloom. In order to simplify and structure ICO investing process for customers, several platforms have already been launched. SuperBloom solution will have to compete with IndigeGoGo ICO, Fund Platform, FastInvest, NousPlatform.

Product

The validity of the results obtained by the platform are unclear and have to be empirically tested. It is not possible to test the private beta, the team only provides the screenshots of the product in WP. There are no links to GIthub for tracking the project development"

Team

There are no links to verify the teams experience on company's website. The whole size of the project team is not clear. According to her Linkedin profile, the founder of the project is still employed at her previous startup - Future League. This may slower the pace of SuperBloom development. Some of the team members do not work at SuperBloom, according to their LinkedIn profiles. The experience of the third founder and CTO was not verified as there is no linkedin profile of him.

Model

The information about the size of the fee is not given.

Finance

Post-money valuation of the project will be around 58M USD which is well above the median valuation of comparable companies on the market. The team bonus which will be around 4.4M USD is not frozen via vesting scheme.

3.4
Medium
Alza
ALZA is a low latency, low fee, and smart contract compatible public blockchain.
Start
TBA
End
TBA
$ 19 000 000
Market
Product
Team
Model
Finance
Market

Competition in the sphere of scalable dApp-protocols is more severe than in others, so it has to be taken into consideration. The existing blockchains, though not as scalable as Alza might become, still have first-mover advantage and might be better-off if they introduce scalability features, such as Lightning network, Sharding, Plasma, State Channels.

Product

Competition in the sphere of scalable dApp-protocols is more severe than in others, so it has to be taken into consideration. Alza aims to deliver its testnet only by the end of 2018. By this time, the already-existing blockchains may already run its Mainnets and add scalability features, such as Plasma, Sharding, Lightning, etc. The registered entity of Alza is unclear.

Team

All of the team members are still employed at their permanent workplaces thus have to combine Alza development and permanent employment. There are no blockchain specialists within the core team. Chris Liu ACM/ICPC contest winner - does not mention Alza as a workplace on his LinkedIn page.

Model

There is no information on the expected size of the fee

Finance

Alza will only sell 25% of the tokens for public. It is unclear how the 40% tokens for "Block producing rewards" will be used.

3.6
Medium
TxHash
Event tracking protocol for Blockchain and web-applications integration.
Start
TBA
End
TBA
$ 5 000 000
Market
Product
Team
Model
Finance
Market

Somewhat related competitors, such as Etherscan and Blockseer have large audience and may implement the tools of TxHash.

Product

Testnet is expected only in Q2 2019.

Team

Now There are just 3 people working in the team. The whole team size is unclear. Team members are not strong, "all star" experts in software development or cryptography. There are no specialists with deep expertise in blockchain/distributed systems/cryptography.

Model
N/A
Finance

In our opinion, the event tracking protocol valuation of $37.5M looks overvalued. It is unclear what kind of a vesting scheme will be used for team bonus. The token release timeframe is unclear.

3.4
Medium
DeepCloud AI
DeepCloud AI is building an AI-driven decentralized cloud computing platform for running decentralized applications.
Start
TBA
End
TBA
$ 8 000 000
Market
Product
Team
Model
Finance
Market

The The competing projects - SONM, Golem, and iExec have been on the market for a while now and had "first-mover" advantage.

Product

The GitHub page of the project has only one repository which is empty. GitHub was only created in late April. The domain was only bought at the end of April, the twitter was created around the same time. MVP is not available.

Team

The CEO does not have a strong track record in cloud computing, AI, or blockchain. The CTO did not work at AWS, as claimed on the company's website. The experience of 2 out of 6 software developers prior to joining DeepCloud cannot be validated. The Blockchain developer is not employed at DeepCloud on full-time and additionally works on a freelance platform (Toptal) and at XSN-Core. The team is scattered across the world and different time zones. The team members are located in Singapore, San Francisco, Egypt, Ukraine, Netherlands, Florida, and Mexico. The team does not have full-time blockchain experts. There are no strong blockchain advisors and partners. The Core team members do not have strong entrepreneurial experience prior to joining DeepCloud AI.

Model

Unit economics is poorly described.

Finance

There is no information about the team and advisors tokens lockup schemes. The competing projects - SONM, Golem, and iExec have been on the market for a while now and had "first-mover" advantage. The team aims to open two offices: one in Singapore and one in San Francisco. The reasoning for this strategy is unclear. There is no information about lockup schemes for early investors' bonus tokens.

3.2
Medium
Rate3
Rate3 – a platform for cross-border transactions between merchants and their customers
Start
TBA
End
TBA
$ 18 250 000
Market
Product
Team
Model
Finance
Market

Tough competition with similar blockchain projects Lack of significant competitive edge Lack of detailed competition analysis

Product

Developments cannot be traced via Github Demo version demonstrates poor range of functions

Team

Team poor experience in development before entering RateX Lack legal and relevant blockchain specialists

Model

Possible obstacles of accepting tokens by large merchants

Finance

Overestimated Hardcap and Softcap – 25M and 20M USD 60% of tokens were purchased on private sale with 20% bonus that increases the risk of mass sell-off when entering exchanges

3.4
Medium
IOV
IOV aims to enable autonomous blockchains to be accessed efficiently.
Start
TBA
End
TBA
$ 48 300 000
Market
Product
Team
Model
Finance
Market

NNS developrs the same features for NEO Exchange. Ethereum ENS - a somewhat similar project - was launched a year ago and did not become widely popular since then.

Product

The process of integration of existing chains into Blockchain Communication Protocol may be complex and lengthy. Currently, the Beta version is not available. The product has been in development only for 3 months, according to GitHub. The comparable technology Ethereum ENS was launched a year ago but did not gain significant customer base and was barely integrated into cryptoexchanges.

Team

There are no marketing specialists in the team. The team is not concentrated in one place and is spread around Europe and the USA.

Model

The exact fee size for Blockchain Name Service has not yet been disclosed and is subject to change.

Finance

The company valuation after reaching ICO Hardcap will be around 39M EUR (45M USD). This figure seems high if compared with NNS, which aimed to raise 3M USD. The given funds allocation is not detailed and gives only high-level distribution.

3.6
Medium
fetch.ai
The adaptive, self-organising ‘smart ledger’.
Start
25.02.2019
End
04.03.2019
$ 100 000 000
Market
Product
Team
Model
Finance
Market

Fantom is not the first platform aiming to simultaneously process multiple blocks. IOTA, Byteball, Nano and Hedera Hashgraph already started developing projects with somewhat similar technology.

Product

There is no link to GIthub or other source to track the product development Currently, beta version of the platform is not available for the public A detailed roadmap has not yet been published.

Team

Now team does not have marketing specialists with proven track-record.

Model

The exact "gas" prices have not been published yet and subject to change.

Finance
N/A
3.8
Medium
b0x
b0x is a decentralized, peer-to-peer margin funding and lending protocol.
Start
TBA
End
TBA
$ 36 500 000
Market
Product
Team
Model
Finance
Market

However, b0x is not the very first project in this field: Lendroid, dharma, and dydx. The last one has a stronger core team of developers, experienced working in financial tech infrastructure companies, and already attracted investment from Andreessen Horrowitz, Polychain Capital, and several other top tier funds. Lendroid already has a mechanism for margin calls. The high frequency of exchange hacks might be a risk for the integration of more sophisticated trading activity tools.

Product

The roadmap is very high-level and only provides the development stages up until the end of 2018.

Team

The core team has never had experience in ruling any business. All these factors diminish the project success, not only in the TGE campaign, but also in the future platform launch. The company is not supported by well-known advisors and community There is only two software engineers in the project, all other people have experience in different fields. There are no marketing specialists in the team.

Model

According to the model, the lender will pay 10% fee. But at the same time the team states that the protocol will enable to avoid some intermediaries and banks for lender. The team does not state who will perform the function of Oracle

Finance

The project valuation is above the median of similar projects. For instance, Lendroid aims to raise only 5000 ETH, which is around 4M USD as of 7th of May 2018. The given allocation of funds is not quite detailed and does not give much information.

3.6
Medium
Power
Power is a hybrid multi-chain platform for trust interaction between buyers and sellers, based on a scalable proprietary blockchain.
Start
TBA
End
TBA
$ 12 500 000
Market
Product
Team
Model
Finance
Market

Even though Power does not have direct competitors, there are several projects that have already created and launched somewhat similar products. They are NEM, HyperLedger, Exonum, EOS, Cosmos Network. EOS has one of the largest caps in the market and is supported by a large community, Cosmos.Network has a good technical background, the rest also have larger communities and have already released products to the audience.

Product

The usage of Rust programming language for smart contracts instead of Solidity may lower the expansion rate of the system The process of products integration into the blockchain system of Power does not seem clear and might be complicated in reality. The team aims to develop various elements of the product which may take signifcant amounts of time. However, the team does not give clear timeframes for the development of elements. There is no information about the tehcnial audit of the platform and the bandwith of the chain The patents has not yet been claimed.

Team

the experience of the team members does not seem enough for the project development, considering the amount of work needed to be done. The LinkedIn profiles of some of the team members are not available to check. There is no information about the previous experience of the CTO of Power.

Model

It is hard to measure the commercial viability of the platform due to the wide variety of commission models possible to implement The economics of the token is not given. It is unclear how the tokens will be used in the system.

Finance

The token distribution is not given so the company valuation is unclear. The hardcap is not given. The provided expenses distribution is sketchy and does not give a clear understanding of the funds allocation. The price of the token is not given.

3.0
Medium
EdenChain
EdenChain – new generation blockchain and platform for dApps
Start
TBA
End
TBA
$ 24 000 000
Market
Product
Team
Model
Finance
Market

Strategical focus on Korean market may appear to be not rational Tough competition from established dApps platforms and next-gen ones

Product

Higher blockchain speed does not have detailed numerical characteristics No prototype available yet

Team

Poor team experience in blockchain projects Lack of marketing legal specialists

Model

Edenchain tokens will be available in the 1Q of 2019 only

Finance

Overestimated hardcap of 24M USD Overestimated token pool capitalization of 60M USD Team, advisors and partners share of token pool is 43% increasing the risk of token price dramatic impact

3.6
Medium
Wireline
Wireline is a full-service platform that ecompasses the entire development process — from design, implementation, and testing, through to deployment and management.
Start
TBA
End
TBA
$ 20 000 000
Market
Product
Team
Model
Finance
Market

Wireline has direct competitors in the market of application infrastructure services with working products, such as Readz, woopie, and Zmags. There are a couple of blockchain projects also aiming to build decentralized micro-services infrastructure - DADI and Golem which already raised funds and have their tokens traded on exchanges.

Product

Admins of the telegram chat are not active. There are messages on Bitcointalk thread saying that the project is dead, the activity stopped in January 2018. It is not clear if the project can attract a large enough sub-sector of the global open-source developer community to make the project a success. As of March 15, the companies website says that "Wireline is in developer preview". Any further information about the product development is not clear.

Team

According to some of the team members Linkedin profiles, they are not employed at Wireline.io

Model
N/A
Finance

Post-money valuation will be around 300M USD which is a tremendously high number and is way above the comparable companies The amount of tokens held by the foundation is high and may cause a massive sell off by the team, which will cause fast devaluation of tokens The description of anticipated expenditures is quite broad and not specified.

3.2
Medium
3.6
Reserve
Reserve Protocol - stable coin backed to USD with the collateral portfolio
Raising funds
N/A
Market
Product
Team
Model
Finance
3.8
NYM
NYM - authentication service with the focus on privacy
Raising funds
N/A
Market
Product
Team
Model
Finance
2.6
Tangram
Open-source transaction blockchain platform, which plans to make free, fast and secure digital payments. Potentially private distributed ledger network.
Raising funds
$ 6 000 000
Market
Product
Team
Model
Finance
4.0
Handshake
Handshake is a decentralized, permissionless naming protocol compatible with DNS where every peer is validating and in charge of managing the root zone with the goal of creating an alternative to existing Certificate Authorities. The Handshake protocol maintains the root zone file in a decentralized manner, making the root zone uncensorable, permissionless, and free of gatekeepers.
Raising funds
$ 10 200 000
Market
Product
Team
Model
Finance
4.2
Urbit
Urbit - distributed cloud computing network
Raising funds
N/A
Market
Product
Team
Model
Finance
3.2
Ferrum Network
Ferrum is a fast interconnectivity network designed for decentralized financial applications. Ferrum brings blockchains together and enables fast and inexpensive transactions without taking custody of user's assets.
Raising funds
$ 6 000 000
Market
Product
Team
Model
Finance
3.0
Kava
A decentralized fast-finality blockchain for interoperable payment channel networks.
Raising funds
N/A
Market
Product
Team
Model
Finance
4.0
Elrond
Elrond - blockchain platform with adaptive state sharding and Secure Proof-of-Stake
Raising funds
$ 15 200 000
Market
Product
Team
Model
Finance
3.2
Purple
Purple is a blockchain protocol and platform for highly-scalable dApps development.
Raising funds
N/A
Market
Product
Team
Model
Finance
3.6
Nervos
Nervos is a network of scalable and interoperable blockchains built on top of an open network, built for the enterprise.
Raising funds
N/A
Market
Product
Team
Model
Finance
3.4
Near Protocol
Near - blockchain and decentralized computing platform with mobile devices connected
Raising funds
N/A
Market
Product
Team
Model
Finance
3.8
Zeppelin OS
ZeppelinOS - operating system for user-friendly creating of smart-contracts and their continuous upgrading
Raising funds
N/A
Market
Product
Team
Model
Finance
3.6
Elixxir
Elixxir works on a blockchain technology providing users with a confidential and secure decentralized platform.
Raising funds
N/A
Market
Product
Team
Model
Finance
2.8
Leep Network
Leep Network - the scalable and secure blockchain working as ACID compliant database and the platform for smart contracts
Raising funds
$ 13 000 000
Market
Product
Team
Model
Finance
2.8
Peaq
Peaq - tokenization platform built on DAG
Raising funds
N/A
Market
Product
Team
Model
Finance
3.2
Dora Network
Dora Network - high-performance public blockchain executing dApps with high-concurrency using Vertical Expansion, Horizontal Expansion and DVBC consensus.
Raising funds
$ 12 300 000
Market
Product
Team
Model
Finance
3.4
ARPA
ARPA - platform and network providing secure multi-party computations and data sharing
Raising funds
N/A
Market
Product
Team
Model
Finance
3.8
BHex
BHex - crypto exchange and custody&clearing service
Raising funds
N/A
Market
Product
Team
Model
Finance
3.4
TODA Network
TODA Network develops a tool that will allow every ledger-based blockchain to process millions of on-chain transactions per second, without changing their protocol.
Raising funds
N/A
Market
Product
Team
Model
Finance
3.4
Intervalue
Intervalue is blockchain 4.0 project.
Raising funds
$ 22 500 000
Market
Product
Team
Model
Finance
2.6
Newton Protocol
The Newton project is a protocol-based economy infrastructure, focusing on a decentralized business agreement, which will serve many industrial applications in the future.
Raising funds
$ 32 000 000
Market
Product
Team
Model
Finance
2.4
Mind.AI
Mind AI is an artificial intelligence engine and an ecosystem that was created to offer an entirely new approach to AI.
Raising funds
$ 50 000 000
Market
Product
Team
Model
Finance
4.2
Celo
Celo is a platform for fast, secure, stable digital payments to any mobile number at a fraction of today’s cost.
Raising funds
N/A
Market
Product
Team
Model
Finance
2.2
Beyond Protocol
Beyond protocol facilitate a universal protocol for IoT communication, monetization and autonomy.
Raising funds
$ 10 000 000
Market
Product
Team
Model
Finance
3.4
Covalent
Covalent is a privacy-protected data network that utilizes a decentralized computing network.
Raising funds
N/A
Market
Product
Team
Model
Finance
3.8
Helium
Helium is a decentralized machine network that enables machines anywhere in the world to wirelessly connect to the Internet and geolocate themselves without the need for power-hungry satellite location hardware or expensive cellular plans.
Raising funds
N/A
Market
Product
Team
Model
Finance
3.2
Beam
Beam - scalable and private blockchain
Raising funds
$ 8 000 000
Market
Product
Team
Model
Finance
2.8
Monet Network
MONET is an open-source infrastructure for distributed mobile peer-to-peer applications.
Raising funds
N/A
Market
Product
Team
Model
Finance
3.8
Sovrin
Sovrin is building a decentralized protocol for self-sovereign online-identity.
Raising funds
N/A
Market
Product
Team
Model
Finance
3.8
Amino
Amino - decentralized infrastructure for cloud computing
Raising funds
N/A
Market
Product
Team
Model
Finance
4.0
Solana
Solana builds a scalable blockchain with 710k TPS.
Raising funds
N/A
Market
Product
Team
Model
Finance
3.6
Cartesi
Cartesi - platform for the development and deployment of scalable decentralized applications and distributed cloud computing
Raising funds
ETH 40 000
Market
Product
Team
Model
Finance
3.6
BCL
Japan's scalable public blockchain for enterprises based on IoT
Raising funds
$ 10 000 000
Market
Product
Team
Model
Finance
3.6
MANX (Macrochain)
MANX is building a secure and scalable decentralized protocol.
Raising funds
$ 30 000 000
Market
Product
Team
Model