UChain — quick thoughts
On to my second QT. If you want to know who I am and what I do check out my first “quick thoughts” where I give a little insight about me personally. https://medium.com/@CryptoFame/carry-protocol-quick-thoughts-b142cf304f11
Ok on to UChain.
- Type: Blockchain ( A )
- Blockchain with sharing economy dapps play ( A )
- UChain = U-bicycle pretty much (no wiki) ( C )
- Good VCs / Draper — Ledger Capital ( A )
- Hardcap 42k ETH / 27mil. USD for 40% ( B- )
- Pool-Love: NO ( A )
- World-Ban: Typical China/USA ( A )
- 20k airdropped telegram aka “giveaway” ( D )
- Team ( B )
- Advisors: ( A )
- Hype: mid-level but growing ( B )
- Gut feeling: 1x
- No testnet or demo yet but will provide before sale ( C )
UChain is a public blockchain infrastructure designed for the global sharing economy. Think cars and bikes and such. Well in this case specifically cars as the parent company is U-Bycycle. I have no idea why they call it an “exclusive partnership” when clearly UChain is part of the company. Just call it by what it is. UChain seems to be an extension of an already existing company. Which is totally fine. So here I would definitely like to see some more partners as currently they realistically have 0.
UChain aims to be the underlying technology for alot of the sharing ecosystem and encourages dapps to be built on top of its underlying blockchain. So they have actually found a good niche to make a blockchain play. Yes we have seen a lot of mobility / sharing dapps… but an underlying plattform you can build dapps on? Not so much yet and this makes the whole idea and play an ( A ) in my book. Well obviously especially since it’s a blockchain and they get all the hype nowadays. (Which might soon be a problem but more to that in a future post)
Team seems pretty decent and the Advisors are good. Easy A for the advisor part and I’d say a solid B for the Team. The Team itself seems mid-succesful with their U-Bicycle company but there are still alot of challenges like bikes getting stolen or just simply people calling the police cause they think the bikes are abondened.
They got good solid VC backing and the sale can’t be participated by USA/China. That coupled with a rather strict policy on pools seems like it will have a bit of buy pressure but ultimately will depend on the exchange listing itself as hype is not enough to make this a “self sustained runner” in my opinion.
The fact they airdropped their telegram… I hate it. I wrote the same in my carry protocol QT.. except carry at least didn’t try to hide it. UChain is calling it a giveaway and say they don’t airdrop…. comeon. It’s the same thing. :D
I don’t see this dumping if the stance on pools doesn’t change.. but I don’t see this pumping either despite being decent overall. Decent just doesn’t cut it anymore in this kind of market with thousand of different ICOs wanting your money nowadays. I might have invested a few months ago but I will not invest into UChain in the current market.
B overall.
Quick price verdict for the impatient:
At a 27mil USD at 40% sale (which is too high imo) with the given facts I don’t see this doing alot on listing. If nothing out of the ordinary gets announced or a binance listing happens.. this will stay roughly at the ICO price after launch in my opinion. Maybe it will even settle slightly below it due to the market situation and the high cap.
Disclaimer:
Like always this all is just my opinion and you have to DYOR. I do tend to have a good gut feeling but this super bear market is making it hard even for me. I could have sworn Sentinal Protocol would at least go 1.5x and here we are at a 25% loss. RIP my ETH.
