ENDO Protocol ICO Review and Analysis

ENDO Protocol ICO Review and Analysis

Overview

Documents, certificates, agreements, orders, contracts, and other kinds of papers are deeply involved in our lives that contain important personal as well as business information. However, a paper is a fragile material that is subject to wear and tears along with getting tempered. ENDO Protocol ICO is entering the market with the aim to target the personal information and identification sector. Given the enormity of the importance of these documents and the frauds they are subject to, ENDO protocol comes equipped with automatic data reading, document integration, and blockchain technology to protect individuals, institutions and companies from fraud.

ENDO Protocol: Certified data verification protocol

“Open-source platform with business and user applications, powered by Blockchain”

ENDO Protocol is basically a protocol that aims to solve a multitude of problems inherent in certified information tracking and encrypted data storage. The issues ENDO is tackling are centralization, verification, modification of information, the inconvenience of storage, ecology, manufacturing, and protection.

As defined by the team in layman terms,

“ENDO Protocol is a Protocol that solves the problem of certified information tracking and encrypted data storage. The ENDO Protocol ecosystem allows organisations and users to participate in information and service exchange through the EToken.”

A set of rules, algorithms and business process logic, ENDO protocol regulates the interaction between network units, allow them to communicate and transfer data among themselves in a secure manner.

  • Explanatory whitepaper & prototype

The team has created a clear and precise whitepaper, defining the importance of ENDO platform. With different use cases in various industries, it further gives us an insight into what to expect from this project. However, it doesn’t provide information on the budgeting of the funds.

As for the prototype, the project has its repository of “MVP for Blockchain platform that implements ENDO Protocol. Forked from Graphene, now is being updated to EOS” on GitHub. Having a working prototype is a big point in favor of this project.

Endo ICO

  • Team profile

ENDO Protocol has a big team comprising of 72 people from different fields including community, investment, HR, system architect, legal support, UX/UI designer, business development, business analyst, backend developer, digital advertising, speaker, cameraman, project management, and investor relations.

Yan Palmachinskiy – Founder and CEO, Yan is an IT technology entrepreneur and founder of an international IT company along with SAAS services that use AI.

Vladislav Utushkin – CMO, With over 10 years of experience in marketing, consulting and analytics, Vladislav has successfully closed the $12.000.000 token sale for MARK.SPACE.

Mikhail Plyaskin – COO, From an economics and management background, Mikhail is the founder of a company that unifies organizations in the communications sector.

As for the partnerships, apparently, the company is in talks with big institutions that it will be revealing soon.

  • The business model, ET: Utility token

EToken (ET) is an internal platform token of ENDO Protocol which is a utility token. This is the only means of exchange that can be used to pay for checking and exchanging the data. Furthermore, these tokens will be used for verification of data, to vote for the development of a protocol, and to stimulate the developers.

The team also took the high-level volatility inherent in the token value into consideration. To tackle this issue, the price of service will be tied to the dollar. As put by the company,

“When you change the price of the token, which is determined by independent sources, the number of services rendered per one unit of the token will change. Thus, regardless of the cost of the token, this will not adversely affect the demand, and its strength on the platform will grow.”

  • Backing technology: Ethereum-based blockchain

The project is based on the popular platform to conduct the ICOs i.e. Ethereum blockchain. In the future, ENDO Protocol will also be integrating the EOS blockchain that means “smart EOS contracts will exist as applications on the ENDO platform.”

As for the advisors, though the team hasn’t posted any names yet, according to their website, the 6 advisors will be announced soon. It further follows KYC procedures to ensure security and regulatory compliance.

  • Crypto-sale resiliency

ENDO Protocol belongs to the Singapore jurisdiction which is a crypto and ICO favorable country and has introduced measures and regulations to drive the growth of this sector.

Token distribution

The total token supply is 100 million at the price of $0.375 per token that will be later sold in retail with $1 price value.

A big chunk of the token i.e. 40% will be used in the token sale. Incentivization +C-pool is allotted 15 percent while another 15 percent goes to the liquidity fund. The team and advisors will be getting 14 and 12 percent respectively. The remaining 4 percent is divided, 2 percent each, between bounty and referral.     

  • Community acceptance

When it comes to the market presence, ENDO Protocol is following a wide approach as evident from its availability on multiple platforms. Facebook, Telegram, Youtube, Twitter, Reddit, Medium, Instagram, LinkedIn, and GitHub are the social media channels used by Endo Protocol. With over 11k members on Telegram, ENDO Protocol has garnered a lot of attention which is expected given the fact that its CMO is a marketing expert.

  • Roadmap

Stage of Project:

As per its roadmap, the project is on its stage 4 where it has completed its marketing campaign and is all set to enter the token sale and platform interface MVP part of it. With a clear roadmap, the significant milestones coming up in this year are the public testnet launch of its platform and mainnet launch along with the launch of its many other features. In 2019, they will have the EOS integration while in 2020 they will approach the government.

Endo ICO

A note to investors

Identification and verification are an integral part of both an individual and business’ life. This sector posses huge risks but lacks a working and effective solution. By targeting the pain points of this segment, ENDO Protocol has created a good idea. But there is no information on the budgeting of funds raised that should also have been the priority of the team.

The idea coupled with a prototype, an experienced and diversified team along with an ambitious roadmap gives us a progressive and potential picture. However, what remains to be seen is how effectively the Endo Protocol team implement their plans into action.

Methodology

To rate an ICO, we follow a list of parameters that are basically the KPIs (Key Performance Indicators) of a project viz:

  • Whitepaper – Availability of code or prototype, the breakdown of funds, wallet for crowdsale
  • Team profile – Team’s strength and reputation
  • Business model – Problem solved, purpose & utility of the token and the economic model
  • Backing technology – Blockchain infrastructure, clarity of terms & conditions and token software
  • Crypto-sale resilience – Incorporation, token distribution, legal risks and security aspect
  • Community acceptance – Clarity & frequency of communication and social media presence

By asking the right questions, we maintain the integrity and viability of our ICO review while following a rating method that is based on the criticality of a particular factor. For instance, elements like token utility and funds breakdown have been given the highest importance while the team members’ reputation and plan to attract a user base are of medium criticality.

We have a team of robust professionals who rate the ICO projects in a completely unbiased manner.

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Sagar Saxena 161 Articles

Passionate about Blockchain and has been researching and writing about the Blockchain technology for over a year now. Also holds expertise in digital marketing. Reach out to him at [email protected]

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