Analytics

July 6

The Token Fund’s Analysis of ICO Projects: Celer Network & Spatium

July 6

Our partners have prepared a review of the next two projects starting the ICO. Is it worth investing in ambitious startups?

Celer Network (USA)

The Celer Network platform works on existing and future blockchain systems and promises high performance and scalability through innovation of off-chain scaling techniques and incentive-aligned crypto economics (scaling methods and calibrated economic motivation).

ff-chain transactions occur outside the blockchain. For example, the cryptocurrency trade on exchanges may occur outside of the blockchain, but the withdrawal/input of funds from the exchange to the wallet happens inside the blockchain. This is the main idea of ​​the Celer Network project.

 

The only way to completely scale a decentralized application is to transfer most of the transactions to the off-chain area and avoid consensus on the chain as much as possible. The project seeks to eliminate the insufficient scalability and low throughput of blockchain networks. The idea itself is not new. Lightning Network is also developing a solution to this problem.

Celer Network developers named their economic model "cEconomy". It will have three components:

  • Proof of Liquidity Commitment.
  • Liquidity Backing Auction allows off-chain suppliers to attract financing with agreed (mutually coordinated) interest rates.
  • State Guardian Network is a special compact side-client that constantly stores the network status even when users are offline.

Tokenomentrics:

Besides the name of the token, which is Celer (CELR), no other information is available. The team writes that they are now fully focused on the project and all the information will be made available later. Recently, the Celer Network MVP was announced.

Mo Dong, the co-founder of the project, previously worked for Veriflow, where until March 2018 he held the position of Engineering Team Lead and Product Manager. However, in the Linkedin account, there is no mention of the Celer Network project. Another co-founder is Junda Liu, who worked in Google in various technical positions from 2011 to 2018 and has 3 forms of technical higher education.

The rest of the team are former employees of Google, Intel, and Microsoft. Of the advisers worth mentioning there is Christos Kozyrakis, a professor of electrical engineering at Stanford University and an employee of ACM and IEEE, as well as Shoucheng Zhang, a physics professor at Stanford.

The partners of the project are funds like Pantera Capital, FBG Capital, DHVC, Stable.

Summarizing, it should be noted that there are no big names in the project, but there are serious funds among partners and investors. The whitepaper is big enough, with lots of formulas and supporting arguments. The very idea is rather relevant. The Token Fund Analitycal Branch recommends that you follow the project and be cautious about investing in the ICO at the moment. The preliminary estimate is 6/10.

Spatium (Singapore)

Spatium is a new protocol for distributed processing and storage of information. A software wallet based on the protocol was developed, with which a hardware device will interact, and the future plan is to create an entire ecosystem.

The project has a working beta version both on Google Play and Windows. Also, a beta version is ready for the Apple Store; it is expected to go live in a week.

The Spatium protocol allows you to exclude a possibility of a single attack vector aimed at a wallet thanks to distributed data storage between several physical devices and implementation of an algorithm for distributed processing of this data. Here, in addition to the distributed wallet, which is also placed on at least two devices, there is the hardware wallet in the form of a bank card.

In addition to the purse itself, the plan is to launch an own DEX exchanger to store funds. This will eliminate vulnerabilities of having to use third-party exchanges. The Spatium protocol is designed to ensure the security of all transactions using cryptocurrency within the ecosystem.

The project has no direct competitors. To some extent, the competitors are already known: Ledger, Trezor, JAXX. However, the Spatium system is against the compromise methods encountered in these software wallets. The main competitive advantages of Spatium are

  • the unique method of the distributed signing of the transaction,
  • distributed storage,
  • and refusal to use a private key.

Instead of one private and public key, there are several "secrets" that are generated independently on several devices.

Spatium plans to use several blockchains and their technologies: EOS, IOTA, NEO, NEM, Etherium.

In mid-July, a platform will be announced for the ICO project, as well as DEX; on this basis, a portfolio investment platform will be created.

Mass production of hardware devices is planned for the end of 2018. New biometric authentication methods are planned for 2019.

Tokenometrics of Spatium:

HardCap: $ 12.000.000. A total of 25% of tokens are allocated for sale, which is 50 million tokens at a price of 1 SPT = 0.24 $. 30% of the tokens will be unlocked before listing on the exchanges. As far as the remaining 70% are concerned, the terms are six months at 11.6% per month. The private sale bonus is 3%. SPT tokens will be used to sell all devices (hardware devices, terminals, and NFC), to pay the commission on the platform for the ICO, and to pay the portfolio investment commission.

Among the partners of Spatium, there are very well-known names: NEM, EdenChain, Charles Bridge Global Macro Fund. Negotiations about partnerships with NEO, EOS, Zilliqa, IOTA, Tezos are also being conducted. Spatium hit the top 6 projects at the Polsky Center (Venture Challenge).

The project team is mainly from the CIS. Geray Yusifov is the founder and CEO of Spatium and is also the founder and chairman of an advertising group representing the IPG and Havas agencies in Azerbaijan and Georgia. He has an MBA degree in Business Administration from the University of Chicago Booth School of Business. There is very little information on the developers, but there is reason to believe that some of them have experience in cybersecurity. The technical personnel is mostly from Belarus.

In conclusion, we note that at the moment there is no proposal on the market that can provide a level of protection higher than Spatium suggested. In terms of partnerships and project development, it is a definitive yes from us. There is not enough information on the team, which makes evaluation difficult. The final evaluation of the project is 7/10.

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