INGOT Coin

Token description

Pre-ICO date

01.05.2018 - 30.06.2018

ICO date

01.07.2018 - 11.08.2018

Token price

Pre-ICO - May: 1 IC = $1 + Bonus 35% (if more than 10000 IC per transaction)

Pre-ICO - June: 1 IC = $1 + Bonus 30% (if more than 10000 IC per transaction)

Public Sale - July Week 1: 1 IC = $1 + Bonus 25% (if more than 10000 IC per transaction)

Public Sale - July Week 2: 1 IC = $1 + Bonus 20% (if more than 10000 IC per transaction)

Public Sale - July Week 3: 1 IC = $1 + Bonus 15% (if more than 10000 IC per transaction)

Public Sale - July Week 4: 1 IC = $1 + Bonus 10% (if more than 10000 IC per transaction)

Public Sale - August Week 1: 1 IC = $1 + Bonus 5% (if more than 10000 IC per transaction)

Public Sale - August Week 2: 1 IC = $1 + Bonus 0% (if more than 10000 IC per transaction)

Platform

Ethereum

Hard cap

90000000

Soft cap

37000000

Capitalization of token pool

120000000

Blockchain

Ethereum

Token distribution date

01.06.2018

Consensus method

Hybrid

Escrow

Yes

ICO currencies

ETH , BTC

Bounty camping

Social Media Bounty (3,000,000 tokens); Referral program (3,000,000 tokens)

Markets

N/A

Token functions

The token will have both security and utility functions. The token holders will benefit from the growth of the Ecosystem’s returns. The returns will be reflected on the price, in terms of Capital Gains and in terms of Dividends. The token will also be used as a method of payment both inside and outside the ecosystem.

Risks

MARKET

INGOT Coin solution will have to compete with IndigeGoGo ICO, Fund Platform, FastInvest, NousPlatform. The regulation behind managing and investing funds might be a significant barrier to growth for INGOT Coin. There are already several projects aiming to create tools simplifying ICO investments, which already raised money. For instance, BankEx which creates PoA protocol to tokenize different types of assets, already raised 70M USD and is about to launch asset-backed exchange. There are already working cryptowallets and crypto-to-fiat exchanges that have large paying customer base. That is why in this industry the probability of success of Ingot coin is very small.

PRODUCT

The product development start and the current stage of development is not clear. The product description is long but most of the provided information is redundant and does not make it clear to understand the product advantages. The project claims to provide high levels of liquidity in its proprietary exchange. However, the team does not even give an idea of how this liquidity will be delivered. The project has quite an ambitious roadmap which does not seem feasible. MVP is not available.

BUSINESS MODEL

There is no information on the fee size. The business model description is sketchy and does not give a good explanation of how the company will earn. It is unclear how the rest 5 components of the Ecosystem(apart from Exchange) will earn money.

FINANCES

The soft cap of 35M USD seems to be way above the median figure of comparable companies. The hard cap of 90M USD seems to be way above the median figure of comparable companies. The hard/soft cap ratio is around 3 which allows to assume that the project wants to attract as much money as possible and does not have a clear understanding of required budget. As the company will sell 75% of its tokens, the project valuation will be around 120M USD which is a tremendous value for a project without available MVP.

TEAM

There are no specialists with technical background in processing and acquiring data from exchanges. The CEO does not have previous experience in the financial industry. Most of the core team members have business majors and does not have previous technical experience. Most of the team members previously worked at INGOT Group companies, such as SIgma Investments LTD, INGOT Brokers, and others. However, there is no available information about the track record of these companies. There is no CTO in the project. Now, there are just 2 technical specialists in the team, according to their website.

Full analysis

Market

2017 was a historic year for ICO’s. Startups raised a collective $4.2 billion through ICOs, up tremendously from the $295 million raised between 2014-2017. Notably, ICOs handily eclipsed the $3.34 billion invested in 2017 seed deals. ICOs aren’t just for FinTech anymore, and now seen as a viable alternative for startups to secure initial capital. In order to simplify and structure ICO investing process for customers, several platforms have already been launched. INGOT Coin solution will have to compete with IndigeGoGo ICO, Fund Platform, FastInvest, NousPlatform. The regulation behind managing and investing funds might be a significant barrier to growth for INGOT Coin. The marketplace for the Ingotcoin is diverse and potentially large in volume. For example, BlackRock, Inc. alone manages $5.5 trillion in assets. As everybody knows, there are many hedge funds, banks, institutional investors, private investment funds, family trusts, venture capital funds and many more investing entities. At some point a plurality of these entities will implement blockchain technology; it is a promising method to limit liability and increase profitability by overcoming major obstacles. Yet today, the ratio of tokenized assets to traditional assets remains miniscule. However, There are already several projects aiming to create tools simplifying ICO investments, which already raised money. For instance, BankEx which creates PoA protocol to tokenize different types of assets, already raised 70M USD and is about to launch asset-backed exchange. The market opportunities for the other products Ingot Coin aims to create are not that bright. There are already working cryptowallets and crypto-to-fiat exchanges that have large paying customer base. That is why in this industry the probability of success of Ingot coin is very small.

Product

INGOT Coin will create a solution by integrating 6 core ecosystem components and providing a one-stop-shop for the digital asset, traditional asset and currency markets to solve the current market challenges. The Ecosystem’s components are the IC Wallet, IC Exchange, IC Brokerage, IC Digital Bank, IC Certifier and IC ICO Accelerator. 1) IC Wallet will be a blockchain based crypto wallet dedicated to working as a custodial for all cryptocurrencies in the Ecosystem 2) IC Exchange will be integrated securely with the IC Wallet, IC Brokerage and IC Digital Bank through a user-friendly platform, a full fledge cryptocurrency exchange. The exchange will be listing major coins and newly issued ICOs to provide a complete diversified coin spectrum for market participants. 3) IC Brokerage will create a hub of liquidity, efficient market pricing and access to all financial products, ranging from fiat currencies to international equities and from commodities (Agriculture, metals and energies) to ETFs 4) IC Digital Bank will provide 24/7 automated payment processing with highlevel web-based custodial services. 5) IC Crypto Certifier will aim to build awareness and educate all interested parties on the blockchain technology, through its up-to-date, powerful and diversified educational services. 6) IC ICO Accelerator will aim to unlock funding for all innovative projects by paving the way for creative visions and new ideas

Business model

The Exchange will charge a preferred rate on all transactions paid in IC coins. It is unclear how the rest 5 components of the Ecosystem (apart from Exchange) will earn money.

Finances

Team

According to the official LinkedIn page, there are 11 people working at INGOT Coin. There are 22 people listed as team members on the company's website. Most of the team members previously worked at INGOT Group companies, such as SIgma Investments LTD, INGOT Brokers, and others. However, there is no available information about the track record of these companies. Most of the core team members have business majors and previous experience in finance. However, none of them has technical background. The CEO does not have previous experience in the financial industry. There is no CTO in the project. Now, there are just 2 technical specialists in the team, according to their website.

Rating: 2.4

Detailed review