ICO Analysis: AIRBLOC
Published on June 14, 2018
By VlaSemInflationActually, I was bothered by the inflation concept, so I dug into inflation and AIR issuance.
inflation will work in two ways:
1) ABL mined by nodes through a POS which requires ABL and is set at 2.5% per annum with 10.9% decrease in yield.
2) Though conversion of AIR, which is also given to user as per their contribution and amount of AIR they have.
To get ABL tokens, you must:
Buy at the exchange
Receive reward from node
Convert from AIR
In this sense, the procedure of AIR issuance is rather important. And for this AIRBLOC introduces a concept of AIR pool.
AIR pool will be a dynamic account, from which rewards will be given as per process described above. What is important is to understand how it is filled in the first place:
10% of total supply of ABL goes to AIR pool to ensure liquidity.
It is filled with trading fees, data usage rights fees paid by refineries and penalties for misbehavior.
Thus we see that issue of AIR is an ongoing process. But in order to hinder potential price dumps by AIR holders, conversion of AIR to ABL per hour is limited to 0.1% of AIR generated by the network.
TeamRoi Nam is the CEO and co-founder. He also served as CEO of ab180 (parent company) for two years. He was engaged in web development for 1.5 years, as well as CSO for 1 year.
Wonkyung Lyu is the Dev Team Lead and co-founder. He is also co-founder in ab180.
Hunjae Jung serves as the project’s Back-end Part Lead and co-founder and was also part of the founding team at ab180. Naeun Kim, Design Team Leader, rounds out the founding team at AIRBLOC.
The broader team is filled with developers and business professionals that are associated with ab180.
The advisory team includes JH Kim, who is also part of the ICON Foundation. He has almost 20 years of experience in the field of security, has experience in developing patented applications, such as the FCI protocol, has the CISA qualification, and is currently the director of Theloop.
Jason Han, who serves General Director of Kakao Blockchain, is also on the advisory team. He has served co-chairman and technical director of FuturePlay Tech VC.
Serial entrepreneur Sungjae Hwang is also an adviser to the project. He is a partner of Futureplay, the initial high-speed accelerator in South Korea and the CEO of FoundationX. Prior to these companies, he founded several start-ups. He worked as the chief product officer in Fluenty Inc. and AI chatbot startup, which was acquired by Samsung Electronics in 2017.
Louis Jinhwa Kim, who previously served as Director of the Tide Institute Institute of Finance and Delegate of the Republic of Korea to the United Nations Conference on Environment and Development (2012), is also on the team.
Partners include: GS SHOP, a leading online retail platform in Korea.
Allbit, a new type of crypto exchange gateway. .
FoundationX, one of the growing funds and accelerators of venture capital in Korea.
VEAT, which is one of the leading law firms in Korea specializing in startup advisory services.
ORANGEFARM, which is focused on incubating promising startups in Korea. ab180, the parent company AIRBLOC, was incubated in ORANGEFARM as early as 2017.
SENTIENCE, one of the leading Korean research companies,.
Deblock, an accelerator in Korea which is jointly invested by ICON Foundation & Ad4th Insight, a specialized block-chain company.
Battle Entertainment, a leading comic platform in Korea, serving more than a million customers.
Humanscape, a the leading medical platform for customer relationship management in Korea, which helps hospitals monitor the condition of patients after surgery and provide follow-up services to patients.
Rainist, a leading Korean software company which provides recommendations for financial products based on lifestyle patterns.
Fysical, the world’s first full-fledged, fully functional, decentralized market for location data.
Indorse, a decentralized social network for professionals.
VerdictA large team with extensive experience in the sector looks solid. The guys were able to attract consultants in areas where there are obvious gaps, as well as partners represented by ICON.
Risks Based on token sale ROI statistic, marketplaces and advertising related projects do not have a good performance in the short term. -1
Customer attraction could face challenges. However, to offset this, the platform has developed a proprietary AirBloc Protocol SDK (software development kit) that has already been stress tested by 60 million devices in Korea. The SDK Protocol functions like a layer that can be easily implemented on top of apps, allowing acquisition of customers. -0.5
Platform implementation and scaling could face difficulties, as Ethereum is not suitable for this. Therefore, AIRBLOC uses the hybrid-chain architecture that uses Ethereum and ICON. Data validation and the process will be done through Aero Network, which will use ICON. Such a combination seems promising; however, without a working MVP (planned to be in Q3 2018) it is hard to judge on its performance. -1
There are ptential regulatory barriers in relation to private data protection laws, although the team looks prepared to handle it. -0.5
I do not like the fact that private sale participants get 45%, even though 30% of 45% will be locked for 3 months as their overall part in the token distribution is rather high. -2
The project involves a complex inflation model, which involves two tokens. -1
Growth Potential Mother company ab108 is already successful in advertising market analysis in Korea. +2
Whitepaper and documentation are pretty good. +1
The team is above average with many strong developers. +2
A lot of strong partnerships like ICON and GS shop, Coinplug as well as several VCs. +2
Token metrics and distribution are in a good range with a hard cap of 20,000 ETH (around $12 million). +2
Strong token use case. +1
A good growth strategy for user attraction. +1
Hype is there (Telegram has 10,000+ members and lots of people are on the whitelist). +2
DispositionThis is definitely a project to look for. The team has all the necessary experience and knowledge for a successful execution. They leverage on their mother company ab108 and numerous partnerships. They have some obstacles in their way, but they have a clear plan how to overcome them. AIRBLOC receives
7 of 10.Proof: https://hacked.com/ico-analysis-airbloc/This is very nice result (7.0/10)!
