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This updates is really a big help to all and were very lucky that you actually share some sources where we can actually find immediatlely in terms of evaluating the ICO.
Thank you! Chime in if you see something to be added/updated/deleted. Best, Crypto-Kristen  |
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Do not post spam or announcements here.
Only looking for comments related to THE LIST.
Thanks!
Crypto-Kristen
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Are these two sections actually the same thing??? Should I combine them into one section "Minimum Viable Product"?
3b. (Functioning) Prototype: how strong is the prototype?
Is there a working prototype code working on a testnet?
Do they have prototype code at all (even if its not currently executed)?
Does the code have commentary?
Does the commentary explain clearly the purpose of the function?
Are the functions a reasonable length? i.e. are they less than 50 lines?
4. Minimum Viable Product: how solid is the product?
Is there a working prototype?
Is the product's technical specification thorough and does it demonstrate mastery of the subject matter?
Are there people out there who want and need this product right now?
Does the product benefit from network effects?
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This ICO evaluation methodology by ICORating is nicely outlined. https://icorating.com/methodology/I'm especially interested in their hype-score and the description of quantitative vs. qualitative factors. Any other pieces of this jump out as concepts I need to include in THE LIST? Thanks! Crypto-Kristen  |
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Thank you MichaelMeu  Something felt a bit off, so thanks for the details. Updating the list now. Greatly appreciate your input. See you later! Kristen |
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Help! I like this excerpt from CryptoPotato's "10 keys for evaluating Initial Coin Offering (ICO) investments" but want to turn it into a series of questions. Anyone able to assist?Source: https://cryptopotato.com/10-keys-evaluating-initial-coin-offering-ico-investments/9 – Quality of the code – Meet Githhub If you have a little bit of programming experience, you should be using it here. The quality of a developer can be understood by analyzing some of their code. As a non-techie, it is still possible to evaluate their quality by looking at the consistency of the code. Another good indicator, is the usage of proper commenting. Avoid messy developers. A piece of code reflects the attitude of a developer. Next, the length of a function is another indicator. A function containing more than 50 lines of code should raise a red flag. Modularity is important and makes the code more readable and maintainable. Crypto projects tend to have open-source code. This creates trust among the project’s community, encouraging devs from the community to make suggestions or improvements. An open-source project provides the opportunity to look at the commit logs. A commit is essentially developer slang for pushing a piece of code to the Github code repository. Thanks in advance, Crypto-Kristen And regarding the questions, how about (in order of importance - 1. most, 4. least): 1. Does the code have commentary? 2. Does the commentary explain clearly the purpose of the function? 3. Are the functions a reasonable length? i.e. are they less than 50 lines? 4. How frequent are commit logs? - I would personally leave this one out however. There's an excellent comment in the article left by someone explaining why commits aren't necessarily all that important (if I recall from memory correctly, don't have it to hand atm). Awesome, thank you. I updated the list. Put these questions under "Technology"... do you agree? Is that the best section? Best, Crypto-Kristen  |
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Help! I like this excerpt from CryptoPotato's "10 keys for evaluating Initial Coin Offering (ICO) investments" but want to turn it into a series of questions. Anyone able to assist?Source: https://cryptopotato.com/10-keys-evaluating-initial-coin-offering-ico-investments/9 – Quality of the code – Meet Githhub If you have a little bit of programming experience, you should be using it here. The quality of a developer can be understood by analyzing some of their code. As a non-techie, it is still possible to evaluate their quality by looking at the consistency of the code. Another good indicator, is the usage of proper commenting. Avoid messy developers. A piece of code reflects the attitude of a developer. Next, the length of a function is another indicator. A function containing more than 50 lines of code should raise a red flag. Modularity is important and makes the code more readable and maintainable. Crypto projects tend to have open-source code. This creates trust among the project’s community, encouraging devs from the community to make suggestions or improvements. An open-source project provides the opportunity to look at the commit logs. A commit is essentially developer slang for pushing a piece of code to the Github code repository. Thanks in advance, Crypto-Kristen
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Hi all, Just updated THE LIST - see the first entry on this topic. May I have your input on the questions currently included on the list? - Are the questions in the correct (most appropriate) sections?
- Are the questions phrased correctly?
- Are the questions arranged in a natural order?
And AS ALWAYS, please share all feedback. :-) Best, Crypto-Kristen |
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Hello thepo1m,
Thank you for joining the conversation! Objectivity is the foundation of this list.
Ultimately, I'd like to be able to enter facts into the checklist to help formulate an opinion based on data (as much as possible, some information is anecdotal). This list would also help isolate areas of strength/weakness to direct further investigation.
Best,
Kristen
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I would add one more step for advisers between 5 and 6. It says a lot if project has real and known advisers who are familiar with the field and who could help the team on a way of their idea implementation. It usually decreases chances of being scammed for investors if there are at least few authoritative people who stand behind the project. Of course that's the case if not just only their photos are placed on the project's website but they really support the project.
Great point. I updated the post accordingly. You also gave good details for the questions within that section. I'll begin posting those parts of the checklist once we have a better feeling that the sections are comprehensive. Make sense? One list to rule them all!!! |
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Hi all, I'm working this list of factors to consider when evaluating an ICO for investment. This is a LIVING LIST, and I'm seeking input so that I can create a public checklist of sorts. Share your thoughts! I'll constantly update the questions on this list based on new information. Ultimately, we should be able to evaluate an ICO opportunity by working through the checklist. See the end of the list for sources...there will be many in addition to the feedback I get here. Need a better understanding of what the heck we are trying to do here??? Check out my YouTube video ==> What is THE LIST?What is THE LIST?An ever-expanding set of criteria and questions assembled by the crypto-community, broken into segments and organized sequentially, to be utilized as a framework for evaluating ICOs. Some Ground Rules to Consider- Strong sources lead to strong opinions
- Data is neither “good” nor “bad” - evaluate it with reference to THE LIST and your gut
- Perfection is the enemy of done
- Come to terms with your personal bias, do your best to minimize it
- Judge with reason, not emotion; do not let the latter affect the former
One list to rule them all!!!First, I defined and arranged the sections. Then I reviewed ICO evaluation articles and added questions to the relevant sections. Now, I am asking your input! What should be added, changed, defined, removed, considered, debated...? Evaluating ICO Opportunities1. Token Purpose: what need does the token address? FUNDAMENTALS- Is the token a utility token (usage token or work token) a security token, or a combination?
- For utility tokens: is the token an integral component of the application ecosystem? YES is preferred
- For security tokens: is there some underlying technology that represents a competitive advantage? YES is preferred
- Is the token the project's principal payment unit, essentially functioning as an internal currency?
- Does the token provide return to token holders? YES is preferred
- Is the token new and no other token offers the same service? YES is preferred
- Does the token have a clear purpose? YES is preferred
PROOF POINTS- How broad or narrowly defined are the use cases for this blockchain?
- Does the token align incentives to simultaneously accelerate growth and token value?
- Who will support the token?
- Is the token structured with centralized control or a decentralized governance?
- Can the resources contributed by users be verified by anyone?
- Does the token reward users for contributing resources towards the creation of a shared service that will benefit all users?
- Does the token grant a governance action, like voting on a consensus related or other decision-making factor?
- For usage tokens: is the digital service useful and does the network underlying the digital service aggregate resources (hashing power, file storage, etc.) that will differentiate the service in the long-term?
- For work tokens: is there a strong network emerging that wants to contribute and is the UX well thought through? And is the service offered useful to people?
- For security tokens: is there some technology underlying the security that gives the token a long-term competitive advantage?
2. Competitive Analysis (SWOT): is this unique in some way? - Does the project benefit from being on the blockchain? Should it be on the blockchain?
- Can the company successfully dethrone any blockchain-based competitors in their industry?
- What are the possibilities past the first use case?
- Is there a core technical or product advantage that is likely to lead to competitive differentiation?
- Does the company have strategic partnerships with trustworthy sources within the industry?
- Is it impossible to substitute the use of the token for another?
- Are there competitive partnerships/alliances with reputable firms?
3. Technology: what is the tech? - What type of technology is it? (DApp? Infrastructure? Currency?)
- What blockchain is it running on?
- Are they developing their own infrastructure instead? If so, why?
- Is the technology proposed by the team making any difference in helping blockchains evolve?
- What problem does this technology solve that is not solved before?
- Does the technology depend on other projects?
- Is the token mineable?
4. Minimum Viable Product: how solid is the product? - Is there a working prototype?
- Were there any public tests of the product performance? (Number of transactions per second, potential vulnerabilities, etc.)
- Do they have a wallet to store coins/tokens saved offline or is it supported by any working wallets that can be used offline?
- Is there a working prototype code working on a testnet?
- Do they have prototype code at all (even if its not currently executed)?
- Is the code a copycat that implemented no new features?
- Does the code have commentary?
- Does the commentary explain clearly the purpose of the function?
- Are the functions a reasonable length? i.e. are they less than 50 lines?
- Does the code allow for rapid expansion of user base and network interactions?
- Are there any external audits of the code?
- Is the product's technical specification thorough and does it demonstrate mastery of the subject matter?
- Are there people out there who want and need this product right now?
- Does the product benefit from network effects?
5. Team: who's running the show? - Who is the founder, what is his/her background? (Have they built and sold a company before, or a new entrepreneur?)
- Can the team be found on LinkedIn and Github?
- Is the team exceptional technically, inclusive, transparent, objective and capable of fostering a vibrant global community?
- Can this team attract partners and participants?
- Are there people on the team who understand marketing and evangelizing?
- Does the team have a history of success, demonstrated ability to overcome obstacles to success and strong desire beyond money?
- Has the founding team demonstrated the characteristics (inclusive, transparent, objective, etc.) necessary to build a healthy community?
- How will the team continue to communicate their progress?
- Does the company blog regularly about their work?
- Have any members of the founding team participated in blockchain and/or cryptocurrency industry events?
- What is the founding team's expertise with cryptocurrencies and blockchain? Are there any red flags concerning their credibility in these areas?
- Is the team able to explain, in relatively simple terms, the value derived from using the blockchain?
- How many developers are on the team?
- Do the team's developers have active GitHub profiles?
- How are developers compensated? By donation? Or some formal commitment?
6. Advisors: who are the big guns? (mentors and advisors) - Are there any industry experts backing the project financially or as advisors?
- What tangible benefit (i.e. advice or strategic connections) do advisors provide the company?
- Do advisors include the project on their own public profiles such as LinkedIn?
- Have advisors discussed the project publicly and recently?
- How involved are the advisors in the project's online community?
7. Roadmap: where do they plan to go? - What is the team's timescale for implementing their proposals?
- How detailed is the plan?
- How realistic is the vision?
- Are the goals achievable based on what the team has accomplished to date?
- Is token distribution linked to the roadmap?
- Does the roadmap include a history of previous deadlines?
8. Token Offering Structure: how likely am I to get burned? - What is the hard cap?
- What is the soft cap?
- How many tokens are being created?
- What is the circulating supply of tokens?
- What is price per token?
- Is there a pre-sale?
- Who has written up the token issuance contracts and actual token issuance software?
- Which blockchain infrastructure is backing up their sale?
- Will the software platform generate new tokens?
- What is the planned use of funds? (e.g., marketing, legal, development, etc.)
- What share of the token distribution is allocated to bounty program?
- How are tokens put into the hands of investors and interested individuals?
- Are the founders holding onto most tokens?
- How long is the vesting period before investors can diversify?
- Are the funds in a multi-signature wallet?
- How do you buy tokens? Is there Escrow or direct to a company wallet?
- Is the team going to destroy or redistribute a significant part of unsold tokens?
- Are token burn actions and bounties paid according to sold tokens or to the token reserve regardless of how many tokens were sold?
- Is the token distribution coming directly from a smart contract?
- Is there a cap on funds raised per person?
- What rights does the token provide the investor?
- Are there any limitations on the ability to resell the coin or token?
- Is there a lock-out period? If so, for whom?
9. Marketing & PR: how serious are they? - Is there a professional whitepaper?
- Is the whitepaper free from spelling and grammar errors?
- How in-depth is the whitepaper's description and outline of the technology?
- Is there a professionally developed website?
- Does the website include a comprehensive ICO FAQ?
- Does the website list the company's physical address?
- Is there professional presence on top social media platforms (Twitter, Facebook, LinkedIn)?
- Do team members include the project on their LinkedIn profiles?
- Is there an official presence on Telegram?
- Is the Telegram channel active and growing?
- Do the Telegram admins have regular access to key team members for questions?
- Is there an official presence on Discord, Slack, Rocketchat, Gitter?
- Does the project have an announcement (ANN) thread on BitcoinTalk?
- Is the BitcoinTalk ANN thread overly focused on bounties?
- Do many of the positive BitcoinTalk posts come from new accounts with relatively few posts?
- Is there any evidence of BitcoinTalk posts being deleted? Are the opinions of seasoned members being shouted down?
- Does the company report progress on a regular basis?
- How is customer service and tech support on the project's social media accounts?
- Is the ICO listed on top ICO ratings websites?
10. Hype: what are people saying about the ICO? (ratings + community) - Is there a Reddit community?
- Are there a significant number of users on the main social media pages for the project? (Bitcointalk, Telegram, Twitter, Medium, and YouTube)
- Is the social community diverse?
- Is there a bounty program?
- Is there an airdrop?
- How often has the project been mentioned in the press?
- Has the project been mentioned in mainstream technology media and in prominent finance publications? (Techcrunch, VentureBeat, Forbes, WSJ, Reuters, etc.)
11. Legal Considerations: is this on the up-and-up? - Does the company have a physical address listed publicly?
- In what jurisdiction is the company incorporated?
- Do either national or international regulations apply to the project?
- Is the ICO compliant in your country?
- What legal structures are being disclosed?
- If a security token: federal and state securities laws require investment professionals and their firms who offer, transact in, or advise on investments to be licensed or registered. Is this the case?
- Is there a SAFT agreement?
- How is security handled?
- What are the apparent, perceived or real regulatory risks?
- Are there plans for external or internal audits?
- Have they published the terms and conditions of the sale in clear language?
- If there is a DAO (Decentralized Autonomous Organization) -like component, is its articulation realistic and well grounded?
Thanks in advance for your input! Crypto-Kristen SOURCES: 1. "Our Process for Evaluating New Tokens" by Nick Tomaino https://thecontrol.co/our-process-for-evaluating-new-tokens-4627ed97f5002. "Scrap the White Paper: How to Evaluate Tokens and Blockchains" by Coindesk https://www.coindesk.com/scrap-white-paper-evaluate-tokens-blockchains/3. "How to Evaluate an Initial Coin Offering" by Strategic Coin http://strategiccoin.com/evaluate-initial-coin-offering/4. "Due Diligence: How to Evaluate an ICO" by Cryptos R Us https://cryptosrus.com/due-diligence-how-to-evaluate-an-ico-initial-coin-offering/5. "Due Diligence: How to Evaluate an ICO Investment" by Bitcoin Market Journal https://www.bitcoinmarketjournal.com/ico-due-diligence/6. "10 Steps for Evaluating Digital Asset Crowdsales" by Token Market https://tokenmarket.net/blog/how-to-invest-to-ico-and-blockchain-tokens/7. "10 keys for evaluating Initial Coin Offering (ICO) investments" by CryptoPotato https://cryptopotato.com/10-keys-evaluating-initial-coin-offering-ico-investments/8. "Methodology" by ICORating https://icorating.com/methodology/9. "ICO Analysis Framework" by Kasper Rasmussen https://blog.ethfinex.com/analysing-icos-4abe41930f0410."Evaluating Tokens and ICO" by HackerNoon https://hackernoon.com/evaluating-tokens-and-icos-e6c22c1885bb11. "ICO Analysis Framework" by MT Kander http://www.mtkander.com/cryptocurrencies/ico-analysis-framework/12. "How to Value Cryptocurrency" by HackerNoon https://hackernoon.com/the-7-things-you-need-to-know-from-the-valuing-cryptocurrency-conference-call-c238095a03b913. "White Papers Versus Other ICO Evaluations" by Financial Advisor Magazine https://www.fa-mag.com/news/white-papers-versus-other-ico-evaluations-36272.html14. "How to evaluate a Blockchain ICO" Nami Consulting http://consultnami.com/how-to-evaluate-a-blockchain-ico/15. "How to Evaluate an ICO (a VC Perspective)" by Lauren Stephanian https://medium.com/the-mission/how-to-evaluate-an-ico-a-vc-perspective-65ac781971b616. "Investor Bulletin: Initial Coin Offerings" by United Securities & Exchange Commission https://www.investor.gov/additional-resources/news-alerts/alerts-bulletins/investor-bulletin-initial-coin-offerings17. "How to Evaluate an ICO" by Shermin Voshmgir https://medium.com/blockchain-hub/how-to-evaluate-a-ico-part-1-c6829d4de76618. "ICO Bounty Programs: Your community should be more than Bounty Hunters" by Brian D Colwell https://briandcolwell.com/2017/12/ico-bounty-programs-your-community-should-be-more-than-bounty-hunters/.html19. "The ICO crapcoin checklist" by Matthew Roberts http://roberts.pm/ico_crapcoin_checklist20. "4 Criteria For Evaluating Blockchain ICOs" by CoinDesk https://www.coindesk.com/evaluate-blockchain-initial-cryptocurrency-offering/21. "Tokenomics — A Business Guide to Token Usage, Utility and Value" by William Mougayar https://medium.com/@wmougayar/tokenomics-a-business-guide-to-token-usage-utility-and-value-b1924205341622. "Quantitative & Qualitative" by Crypto Bulldog https://twitter.com/CryptoBulld0g/status/95687802242195046423. "ICO Red Flags" by tokenrecord https://bitcointalk.org/index.php?topic=2916380 |
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Hi b76d6g83,
No worries! Feel free to connect with me on LinkedIn. I'm an open book.
Kind regards,
Kristen
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I am ambivalent about tradove. In my opinion, this whole thing is not a scam and I do not impute base motives to tradove. However, there are a lot of questions in my mind (beside that ones that are still unacknowledged in this thread). The project is crude and immature. It seems amateurish, what really is unusual for such a high-level team (when all the team members really are involved in this project). I suggest, tradove hired Ms. Kristen Colwell (director of marketing at Brian D. Colwell) to make some advertisement for their coin (her husband? brian is a team member of tradove’s facebook page), but she is not really into this subject matter and are not able to answer the questions by herself. But why did tradove hire such a small business for that? Other than cataropkr’s payment, mine has been accepted without any problems: https://imgur.com/a/rGtI4Nevertheless, because this project is not what I expected and the company does not act like one of their niveau, I also asked for a refund yesterday and mailed to kent.yan@tradove.com, merry.meng@tradove.net and bbcoin@tradovemail.com. Till now, I haven’t received an answer, but I will keep you up to date. Best wishes Hi, This is Kristen. Though I am no longer working on behalf of TraDove, I wanted to respond to this message because it referenced me personally. My background is in marketing and I love challenges. As an investor in TraDove, I was excited by the opportunity to help with marketing of the ICO. This opportunity popped up just over a week ago. My directive was to maintain this Bitcointalk feed and the TraDove Facebook page to connect people with information as questions arose. How deep is my knowledge of ICOs?  Well... My first foray into cryptocurrencies was with ETH and Crypto Kitties.... I'm one of THOSE people. Cryptocurrencies are fascinating and I (along with many, many others) am interested in stepping into this space. I am an honest person and any review of my prior working relationships will back this up. My efforts on this feed were meant to clear confusion, but I can only work with the information that I am given. Long story, short? I'm out! Thanks to those who came to my aid on this feed. I hope everyone recognizes that my personal intentions were good. Peace out, Kristen |
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