Matt Spoke CEO of AION Network at AIONEX Toronto
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The current state of blockchain and its adoption can be compared to the early days of internet. The early internet analogy of blockchain can be useful while looking at the potential of blockchain and cryptocurrencies. Before its mass adoption in the 1990s, the internet was dispersed in many local networks called intranets. The real breakthrough only came when different intranet networks realized that they could use a unifying Internetwork protocol to communicate among each other, thereby extending reach by compatibility even more. The invention of
made it possible for any intranet to connect to the internet, leading to its mass adoption and present form.
Since Bitcoin introduced the concept of blockchain in 2009, there are hundreds of public and private blockchains in existence today. There is no connectivity between these blockchains and each of them serves a different purpose. It is widely believed that in the future, mainstream blockchain adoption will be achieved by the development of a network which will integrate and connect all the blockchains to each other, similar to what TCP/IP did to the internet.
Aion provides the middleware for blockchains to communicate with each other, and the ability to pass messages between them.
The Aion blockchain network is like a computer network that makes it possible for dissimilar systems to communicate.
The Aion network will pass logic and value among participating blockchains as freely as liquid assets, where every transaction occurs without centralized intermediaries.
The Aion network will be centered on a public, purpose-built third-generation blockchain called Aion-1. Designed to connect other blockchains and manage its own robust applications, Aion-1 also provides the crypto-economic system that incentivizes interoperability in the ecosystem.
The transactions and communication between different public and private blockchains is done through Connecting Networks. They act as intermediaries and provide an interface for developers and users to route messages between blockchains. The participating networks communicate with each other using a bridge, which is a communication protocol that facilitates communication. There are 3rd party validators on the bridges which approve the transactions upon consensus based on
based algorithm. The bridge validators are rewarded from the interchain transaction fees.
Aion is creating a new type of verification algorithm based on concepts used in modern neural networks called
Sounds good, right? But have a look at the competition
Aion is entering an already crowded space with many competitors in the market. Ark, Cosmos, Wanchain are some of the other projects working on similar ideas.
is the oldest of the lot and is based on Delegated proof of stake consensus mechanism.
We have already covered Cosmos, you can check it out
have delayed their 15th September ICO over the Chinese regulatory concerns. Aion differentiates itself in the sense that it is more focused towards enterprise level of implementation. The blockchains on the Aion network will be enterprise level Fortune 500 companies which will be blockchenized and connected to the Ethereum network.
The core premise of “Connecting different blockchains and enabling widespread adoption” is similar across all these projects.
Aion has got a strong 20 member team, which includes engineers, business developers, marketing people etc. Before conceptualizing Aion, the same team has worked on
since 2016. Nuco is a blockchain enabler wherein it helps businesses build applications on top of blockchains. Nuco is already into its Beta with a working Testnet version. This gives a high credibility to the team. Along with Aion, Nuco is working on The Enterprise Ethereum Alliance which connects Fortune 500 enterprises, startups, academics, and technology vendors with Ethereum subject matter experts. CEO Mathew Spoke has been working with blockchain based technologies since 2012. One thing that we noticed about him is that he seems like someone who truly believes in the disruptive potential of blockchain and wants to see its mainstream adoption. Although there are no advisors listed for Aion, the team has worked closely with a strong advisory team with NUCO which includes
. Aion’s experienced and competent team gives it some advantage over other similar projects.
The AION token will power the Aion network. The network powered blockchains will pay the validators in terms of AION tokens to initiate any inter blockchain transactions.
AION tokens are the fuel used to create new blockchains, monetize inter-chain bridges, and secure the overall network.
The crowdraise is a tad complex and is planned in 3 phases of private sale, public presale, and public sale. The public presale phase will launch on 3rd October and will be done in 5 tranches of different pricing levels for an estimated 40,000,000 AION token. 1 AION token is priced at 0.75 USD in the first tranche.
The soft cap is as high as 15MM USD and the presale will go on 4 hours after the soft cap is reached with no hard cap!
To give you a perspective, similar project Cosmos had a cap of 17 MM USD in its entire crowdraise, while AION is aiming to raise 15 million USD in the presale itself.
We wonder why Aion needs as many funds as it intends to raise.
The author believes that the widespread adoption of blockchain will come across 2 fronts. It would either happen through a platform like
which hides all the aspects of the underneath blockchain, providing a seamless experience without the users even realizing that they are using blockchain or connecting platforms like Aion. Although there is a huge potential in the technology, there are too many platforms working on the same thing without any clear differentiation.
The biggest concern as mentioned a couple of times above is the number of platforms working on the similar idea. -3
The raise structure is complicated and looks somewhat greedy. 15 MM USD softcap for the presale itself! There is also no clarity on the funds usage. -2
Aion is planning to connect its affiliate blockchains to only Ethereum and not other significant blockchains like Bitcoin. Competitors have promised to provide a connection between all major blockchains. -2
After successfully working on Nuco and its associated projects we believe the management is capable enough to implement a project of this scale. +3
Aion is designed for enterprise level blockchains to get connected to each other. Nuco has created Enterprise Ethereum Alliance, which had advisors like Vitalik Buterin and Alex Tapscott . Aion is like an extension of Enterprise Ethereum Alliance . +7
Aion is creating its own consensus algorithm for verification which is a combination of proof of stake and proof of intelligence, which removes some inefficiencies from the existing platforms. +2
We arrive at a score of 5 for Aion which is a tad higher than Cosmos. Some small amount can be kept aside for moonshots like these considering the potential if they scale.
The presale starts on 3rd October 2017. You can contribute funds
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Aakash Kawale is a financial analyst based out of Mumbai, India. He is the lead analyst at a Singapore based organization and has extensive experience of analyzing US and Indian equities. Aakash is a strong advocate of the Blockchain technology and has been analyzing cryptocurrencies since 2015.
Cryptocurrency Market in Recovery Mode as Bitcoin, ERC-20 Tokens Lead
AION could backfire for pre-sale investors because the public sale is a Dutch Auction and the volume they are trying to raise is massive.I explain this in my review (
).Essentially, they are raising upto $150M in the public sale; it’s a Dutch Auction so if supply > demand, the price keeps dropping and dropping.Bad for pre-sale buyers but may be good if you catch the tail end of the public sale.
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Game Protocol is a decentralized gaming ecosystem for blockchain video games, based on Ethereum. Its primary purpose will be to allow game fans to fund developers and benefit from their success. Brought to us by the same team that’s behind
app that has been downloaded over 1 million times, GamyTech has decided to open up their platform to the public so that everyone can produce and release their own games without dealing with publishers or any other middlemen.
When a development team has an idea for a new blockchain game, the Game Protocol Ecosystem will be its incubator and help it scale in every way possible.
Game Starter – A smart contract based, fully automated crowdfunding system. Developers can create and sell their own crypto-based in-game currency based on Game Protocol Token. This is done via smart contracts that allow the easy creation of tokens. With the use of the Bancor liquidity pool, players can easily exchange between in-game currencies
Game Store – A decentralized platform where fans can play games that have been funded and developed.
Community – The GamyTech website has an “existing premium user base (users who actually spent money in the game) of about 700,000 members.
Developers Tools – The developer’s tool contains a set of utilities that developers can leverage to quickly build a new real money game. These tools will simplify a developer’s work and provide API access to the following:
A Provably fair random number generator found on page 15 of the
There will be two types of tokens in this ecosystem. The native Game Protocol Tokens (GPT), and Game-Specific Chips (GSC).
When investors contribute to the Game Protocol ICO they will receive GPT to be used for services and resources provided by others via smart contracts. GPT will be traded on different exchanges.
When investors see a game they want to fund, they will exchange GPTs for the new game projects own original token (GSCs). The utility of a new GSC is completely at the game producer’s discretion; they can, for example, exchange it for in-game special features or provide full access to the new game.
Holders of GPT and GSC will be able to quickly exchange back and forth through use of the Bancor Protocol.
Game Protocol’s team is 21 people deep. Most all of them currently work for partner company
Aion Crypto Roadmap
Michael Halimi – Chairman Executive Manager. He is also the CEO of Makor Capital, a global brokerage with offices in Paris, Geneva, New York, and London. 10 years as Managing director for Cantor Fizgerald.
Avi Bouhadana – President Executive Manager. He was also a founding partner at Makor and a managing director at Cantor Fitzgerald.
Paul Huang – Technology Executive Manager. He too is a senior managing director at Makor. Spent 10 years as a Research Staff Member for IBM Math and Science Dept.
Moshe Elbaz – CTO. He is CTO of GameyTech since 2014. Spent 1.5 years as Head of a game dev team for Bio-gaming.
Sandra Elbase – CMO. She spent three years as Senior Marketing Mobile Manager for Pokerstars (the #1 online poker site ever).
Efraim (Evan) Wolpert – CFO. He was also CFO for Makor Capital since 2010.
They have 11 advisors with different areas of expertise, some of them will be helpful to the project. The strongest advisor on paper is Michael (ByungSoo) Kim, who worked for EA Sporsts, Microsoft, Blizzard, and Wargaming.
“GamyTech has developed over seven successful mobile games with millions of downloads in both Apple’s App Store and Google play store. With a focus on real-money skill-based games, this experience has given the GamyTech staff a unique perspective on the video game industry and its issues. Using their knowledge and massive community, In the past 3 years, we raised over 3 million dollars and released 8 new games. Our games have been downloaded more than 4 million times.” (whitepaper)
It’s very important we note how hard it is to verify this quote. For sure their Backgammon game is a hit. But, there are zero other playable games that we could find. The only game that is available to play that we know of is
If they aren’t being completely honest about creating several successful games, that’s a giant red flag.
Although they probably really need it to compete with the big dogs, the $30 million hard cap is high and will prevent early token price gains.
Lots of competition, including Indigogo and Kickstarter.
The founders of Game Protocol also founded GamyTech, and also founded and managed Makor Capital.
Ten percent of the GPTs issued will be retained in a special Game Support Fund. This fund will allow the company to support promising game projects that will be listed on GameStarter.
They do have an MVP, if you want to call it that. It’s their
With the low supply of 150 million tokens, If just one project that’s created on with Game Protocol becomes popular it would create a huge token price increase.
They spoke at Consensus 2018 as well as several other conferences.
It’s a fascinating project with a lot going for it long team. However, the ICO seems too risky. Maybe keep an eye on it, and wait for the probable post-exchange price drop.
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Joshua Larson is also known as the "Bullshit Man" for his ability to spot it a mile away. Avid ICO researcher and contributor. Former professional poker player/backer. Spent 10 years analyzing hand history, stats, and player data.
Discovered blockchain in late 2016, and never looked back. He now uses his analysis skills to investigate ICOs full time. What a perfect match, because in today's crazy world of ICOs, information, passion, and diligence = dollar bills!
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You are the head of a company and want to learn what people think of your products. Normally you would hire a market research firm which charges you high fees for their services. They would ask people to fill out surveys express their opinions about your company or some of your products. This takes a long time, costs you a good amount and is not always fully representative of public opinion.
comes in. They cut the middleman, decreasing fees and allows companies to reach their customers directly, removing the possibility of data manipulation. Also the data is obtained in real-time, meaning that the whole process of getting reviews and feedback is much faster now. Everyone is incentivized to act honestly by a staking and rewarding mechanism. There are three main actors in the system and their roles are as follows:
Reviewers: Reviewers are actors that provide feedback, fill out surveys, etc. They are asked to stake some REW tokens prior to doing work and if their work is not genuine and, they lose those staked tokens. If a reviewer is honest and provides genuine feedback, he or she is rewarded.
Validators: Validators are actors that basically check data provided by reviewers. They shall conduct a validity check according to some pre-determined guidelines. The same staking mechanism applies to validators as well. In some sense validators’ role in the system is quite similar to proof of work miners. Honest and genuine validations will be rewarded as well.
Companies: Companies are actors that demand market research and then pay REW tokens for them. They will be asked to stake tokens since they might be reluctant to pay rewards to reviewers once the research is conducted. Validated data shall be available to companies in real-time.
But it is a mistake to think that Review Network is a mere human-based automated review system based on blockchain technology. The project’s appealing to machine learning and data analytics provides great utility as well. For instance, an algorithm to determine fake reviews shall be implemented, thus fake reviews will be removed instantly once they are determined to be fake.
The use of blockchain is a great fit for this project’s purposes also. Transparency and immutability of reviews is a necessity for honest and genuine reviews and the automated reward payment system removes any concern that reviewers and validators might have regarding their rewards. Furthermore, responses with higher quality completed in a shorter time shall yield more rewards.
REW tokens will be used for interactions between reviewers, validators and companies within the system as explained before.
The initial total supply of REW is 5 billion tokens with the following token distribution:
The token sale will be conducted in six stages. Although it is not disclosed what bonuses stage one investors got, a bonus of 50% for stage 2 investors is made public, which is quite concerning for later stage investors. These bonus tokens will be locked for two to three months, creating an immediate selling pressure. Stage 3 and later stage investors’ tokens do not have any lock-up period.
Team and advisor tokens are locked for 3 and 2 months, vested over 12 months respectively.
The team is planning to use the token sale proceeds as follows.
CFO & Partner Reinhard Fellman: Fellman was an analyst at Commerzbank AG and an associate at Morgan Stanley before he started to work towards a PhD degree at London School of Economics.
Data Analyst Olivera Sazos: Sazos is the current manager of data analytics at nbn
Australia, a telecommunications company. Previously she has worked as a data analyst at Optus, another telecommunications company, and BT Financial Group.
Ivan Bjelajac: Bjelajac was an advisor at Lemon.mail, the world’s first encrypted and decentralized e-mail service.
Robert Golladay: Golladay has worked as the head of IBM Europe’s digital business automation business. He is the managing director at CognitiveScale, a blockchain and artificial intelligence company.
Payxpert: A payment provider company based in Cambridge, Great Britain.
Bancor: An exchange project, allowing direct trading between supported coins.
Below is a breakdown of the risks and growth potential of Review Network.
High bonuses for early-stage investors are definitely concerning. (-2)
No announcement with any company to adopt Review Network so far. (-1)
Partnership with Payxpert and Bancor should provide high liquidity both in early and later stages. (+3)
Their use of blockchain for an industry in which transparency and honesty are of utmost importance. (+3)
Review Network aims to solve problems in the market research industry by introducing a solution based on blockchain technology, machine learning and artificial intelligence. They seem to have made great progress so far and the project definitely has the potential to be adopted by big companies. Token metrics could be much better as they do not seem to be fair for small investors. Review Network receives a
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is a blockchain music economy, combining the best of crowdfunding platforms such as Kickstarter, music streaming services such as Spotify, social networks such as Facebook and multimedia sharing platforms such as YouTube. Aiming to create a better platform for the 21
-century music economy, Imusify uses blockchain ledgers and smart contracts to ensure a fairer distribution of assets within the industry.
In the current music industry, the middleman gets the highest cut while the actual work is done by artists. In many cases, artists do not have the ownership of their works and this results in a lower income distributed in a quite non-transparent way. Artists using the Imusify platform will have complete control over their artworks and royalties, solving one of the biggest problems in the industry. They will be automatically rewarded on a per stream basis, meaning that not only the fairness of distribution is ensured, but also that no payment will be delayed ever.
Some important components of the platform are as follows:
Crowdfunding engine: Any artist can run crowdfunding campaigns for her albums, videos or tours.
Transparent and fair payments: Thanks to the blockchain ledger and smart contracts, artists are automatically paid in a transparent and fair way.
Reward system: Imusify users who create posts, playlists and comments will be rewarded in return for their contributions.
Co-evolutionary copyright management: Content owners will be provided tools to manage copyrights.
Any interaction or transaction between users of the platform will be covered by Imusify’s IMU token pool or it will cost tokens for the exchange of digital assets and services. Some of IMU’s primary use-cases are as follows:
The initial total supply of IMU is 1,000,000,000 tokens with the following token distribution:
The team expects the actual circulation for the first few years to be around 650 million tokens. According to their estimations, only after five years, 1 billion tokens will be in the market. Tokens allocated for the team and advisors are locked for one year and then each month 4% of these tokens will be released.
In the ongoing private sale round, a bonus of 50% is offered to investors, which is quite concerning. During the pre-sale investors will have a 30% bonus and the main-sale contributors will be able to buy their tokens with a bonus between 12% and 0%. Unsold tokens will be allocated to “Ecosystem” and will be vested.
If no strict entry barrier for pre-sale is implemented so that anyone meeting the requirements for the main-sale can buy in the pre-sale stage, it is quite likely that most of the tokens allocated for the main sale will not be sold. Furthermore, no vesting periods for tokens sold in presale and for only some sold in private sale makes a dump just after the token hits the market quite possible.
The team is planning to use the token sale proceeds as follows:
CEO David Walters: Walters has worked as a portfolio manager at Generali, a German insurance company, and is a former artist, songwriter and performer.
Chris Hager: Hager is a developer at City of Zion, a group of developers supporting the NEO ecosystem.
Nikolaj Kuntner: Kuntner is an open source developer at City of Zion and a software engineer at DAQRI, a computer hardware company.
Marcus Brown: Brown has worked as a senior art director for several reputable marketing and advertising companies such as TBWA\Media Arts Lab, 180LA and Crispin Porter + Bogusky.
Dennis Chin: Chin is a former corporate development officer at EMI Music, one of the world’s leading music companies.
City of Zion: City of Zion is a group of developers supporting the NEO ecosystem.
O3 Labs: A leading light wallet application on the NEO blockchain.
Below is a breakdown of the risks and growth potential of Imusify.
High bonuses offered for private sale and presale make the public sale practically obsolete. It is quite unlikely that all tokens allocated for the public sale will be sold. (-2)
MVP will be launched in January 2019 and the platform in November 2019. One can expect a high selling pressure in the absence of any near milestone. (-1.5)
Backed by NEO and world-class developers of City of Zion should accelerate its adoption. (+1)
Blockchain ledgers and smart contracts have a high chance of solving crucial problems in the music industry. (+2)
Unless all public sale tokens are sold, the circulating supply will be smaller than initially expected and the value per token will be higher. (+1)
Imusify is a blockchain music platform, aiming to solve some of the most crucial problems in the industry. Although the lack of competition and the fact that they are backed by the NEO ecosystem might accelerate their adoption, that there is no milestone before the next year and questionable token metrics raise an eyebrow. Imusify receives a
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