DS PLUS (PlusCoin) Reputation or How “experts” of the Blockchain world prepare analytics
Project or company’s reputation is an important component.
Not so long ago, an attempt was made to damaging the image of DS PLUS (PlusCoin) by the quite well-known analytical research project ICO Rating. The DS PLUS team requested this organization to take a decision in a disputable situation, but never received a satisfactory reply. In this regard, we cannot remain silent and ignore the incident without informing the crypto community.
Beginning:
It all started when one of the PlusCoin tockenholders sent the team the picture below, which had been taken during the NSP presentation. Being a man aware, he immediately noted some inconsistencies and elementary errors in analyses.
Let’s explain what exactly was displayed in the table provided:
1. PlusCoin and the DS PLUS mobile application were displayed as two separate projects that were positioned as separate ICOs.
2. The cost of a package of 3300 PLC at the stage of crowdfunding was incorrect. During the ICO, the cost of these packages ranged from 5 USD to 14.5 USD.
3. Market value was presented in relation to 1 coin, but not a package of 3300 PLC. Calculating the package value of the coin at the time of presentation, it was 2.4486 USD (48% decrease in comparison with the minimum cost of the PLC package during the ICO).
4. ROI was calculated incorrectly.
Analytical data had not been verified and confirmed. NSP obtained the information on the basis of the ICO Rating’s wrong analysis.
ICO Rating present themselves as an organization to be taken seriously, which is responded for information and advice concerning Blockchain projects. The attitude to the information reliability is shown on the presented slides of the presentation — and this should already be an indicator of this organization’s competence.
Actions to address the situation:
We wrote the following message to the speaker (representative of the company Saveliev & Partners, Nektorov):
“Hello!
One of your leaders spoke at the event: https://aronicle.timepad.ru/event/654565/, our friends and partners present at this event were struck by your incompetence and careless attitude to the current information. We recieved the following data:
In the presentation on the slide, “The worst results for the return on ICO investment in 2017” (photo in the attachments), you twice used our project in a exaggerated negative perspective. Firstly, DS PLUS (PlusCoin) and PLUSCOIN are both names of our company; such conclusion could be made not only on the basis of names, but also the same exchange rate. Secondly, and this is the major deficiency: ROI value is absolutely incorrect.
I’ll explain:
During the ICO packages of 3300 PLC were sold!
In your presentation in one of column used the cost of 3300 PLCs ($ 10 and $ 13 respectively), and in the other — the cost of 1 PLC (0.000742), when comparing it should have indicated the cost of 3300 PLC ($ 2.44) in the second one, which is an extremely insulting mistake, moreover, confidently declared at a public event. Either you used the data without understanding the information or you deliberately distorted the facts. We do not deny that at the moment the project has negative ROI, but the team is working hard to improve the current situation, and you publicly show the results by several orders worse.
We kindly ask you not to use incorrect information about our project, and as confirmation to send an answer to this letter explaining the situation. Otherwise, we will have to take retaliatory informational, marketing and legal countermeasures regarding this event. “
The DS PLUS (PlusCoin) team received an answer that it was not his fault, he took the report data from an open source that was prepared by ICO Raiting — https://icorating.com/ICORating_annual_report_2017.pdf?utm_source=ICOrating&utm_campaign=794501eece-Email_Friday12_01_2017&utm_medium=email&utm_term=0_a24973db7e-794501eece-37466755
The file is still accessible by reference, but we saved it just in case.
NSP replied:
“Hello Leonid,
Thank you for your letter and feedback to my speech.
Concerning the information we used:
1. We used the information provided by ICO Rating.
2. A link to this information is provided on the slide that you photographed (see the lower right corner).
3. During the speech (if you were present), it was mentioned several times that in multiple resources this analytics differs, unfortunately.
Nevertheless, we have noted your information and will think about what can be done here.
We also recommend you to contact ICO Rating for correcting their report — its distribution is much wider.
See original report: slide № 12: https://icorating.com/ICORating_annual_report_2017.pdf?utm_source=ICOrating&utm_campaign=794501eece-Email_Friday12_01_2017&utm_medium=email&utm_term=0_a24973db7e-794501eece-37466755
We will be happy to be of service to you.
Thank you!”
After this our correspondence with ICO Raiting followed:
The DS PLUS (PlusCoin) team message:
“Hello!
My name is Leonid, I am a representative of the DS PLUS (PlusCoin) project. I want to note the extremely careless calculations that you gave in your report on our project:
On the 12th page in the table “WORST ROI RESULTS AS OF 31.12.2017” in your opinion we are heading the list. However, you did not take into account the fact that during ICO our token was sold at the price for a package of 3300 PLC, and later at the exchangers it was trades for 1 PLC. Because of your incompetent calculation, we certainly look terrible, but the cost during the ICO should be compared with the value of 3300 PLC ($ 0.000742 * 3300) for calculating ROI correctly. We do not deny that at the moment the project has negative ROI, but the team is working hard to improve the current situation, and you publicly show the results by several orders worse.
In view of the above, we ask you either to change the information in the reports or make a public statement concerning this mistake. Otherwise, we will have to take retaliatory informational, marketing and legal countermeasures regarding this event. “
February 16, 2018 23:38 “
ICO Rating’s reply:
“Hello! Our calculations are based on the information that analysts can take from open sources. Your package scheme of trading does not apply to it. Please provide confirmation of your claims, the more detailed, the better, we will check them and, possibly, make changes to our publications with the necessary public statements.
February 16, 2018 14:12 “
Explanation from the DS PLUS (PlusCoin) team:
“Hello!
Firstly, this information is posted in our WP: https://pluscoin.io/whitepaper/WP%20PlusCoin%20-%20(ENG).pdf
In Section “3. DS PLUS Token and ICO” it is stated: 1 First PlusCoin Token is a package of 3300 PlusCoin (final tokens), and then a definition for a package is introduced — First PlusCoin Token, which was sold during the ICO (and only during the ICO!)
In addition to WP, this information was provided on our site during the ICO, which you can see for example in this review: https://www.youtube.com/watch?v=4RwLNOhBW7o, or in others:
https://www.youtube.com/watch?v=hDHHAYtQwY8 (specified even in the description);
well, and in any other review made for youtube.
Also, this information was posted in all media where we were published:
https://mining-cryptocurrency.ru/pluscoin-ico/ ;
https://golos.io/pluscoin/@wind33/prodolzhaetsya-ico-proekta-ds-plus-pluscoin ;
https://bitcointalk.org/index.php?topic=2067375.0 ;
And so on. Also, I would like to note that in your rating of the worst ICOs, you gave us both the first and the second positions (which is evident from the same exchange rate). It’s being assumed that you have confused information about us and the Korean project several times. If you need more information, of course I will write you, but for now, whatever resource I opene — everywhere our packet scheme is provided.
pluscoin.io
February 20, 2018 2:24 “
ICO Rating’s reply:
“Hello, thank you for the details. We passed the information to the analytical department this morning, we’ll keep you informed.
Thank you, we will wait for the further information!
February 27, 2018 13:38 “
The DS PLUS (PlusCoin) team:
“Hello, is there any information concerning our issue?”
February 27, 2018 15:10 “
ICO Rating’s reply:
“Hello. I’ll obtain the information.
Thu 18:55 “
The last request of the DS PLUS (PlusCoin) team:
“Hello, I’m requesting once again to clarify our question.”
Result:
We were not able to reach the ICO Rating project, and they in turn did nothing to correct the incorrect and incompetent analytical reports of the “experts” in the Blockchain world. At the moment the report is placed at the same link and is available in the same form.
Considering that there is a clear mistake in calculations in the first line of one of the key reports of the ICO Rating, can we trust the remaining data? Perhaps it makes sense to review all the data collected by analysts?
There are many companies in the industry, such as Nektorov & Partners, who trust the ICO Rating’s opinion. Thanks to them erroneous data are distributed at various events and through their own information resources. This causes additional damage to reputation, presented in the company’s report in a wrong way.
We call upon members of the crypto community to be vigilant and not to use the ICO Rating’s data as an expert opinion on Blockchain projects.
