Chronobank ICO. Do We Have a New Leader?

After the successful ICONOMI ICO I was looking forward for a new long-term investment opportunity. At last, it’s here. The project name is Chronobank ( As you probably noticed, I’m interested in projects that are ready to share their profits with the token holders. Despite the ‘ICO boom’ with the huge number of different ICO’s there are no many big ones with the profit-share-type (PST) tokens.

The information on the project itself is a bit limited since the detailed whitepaper hasn’t been published yet (it should be available on the 25th of November). However, we can analyze the team ICO approach and their marketing strategy. I won’t research the project details in this post but the very essence of it should be outlined here.

In a nutshell, Chronobank is going to create a stable crypto currency that will be backed up by the human labor hours. This is a revolutionary solution for the crypto market. The absence of a stable crypto currency with a high liquidity is one of the main factors slowing down the wide adoption of the blockchain based currencies in the traditional business activity and a traditional economy as a whole.

I will analyze the ICO details that make me believe the project can be really promising.

The Project Idea

The idea is innovative for the crypto world. The product is highly demanded by the market. The successful implementation of LH tokens will create a revolution in both crypto and a traditional economy.


The team is big and professional. They have good experts from all the spheres that are crucially important for the project, including management, HR and related fields, IT, marketing and science. The core of the team is formed and is complete to start and support the successful project.

It’s a rare occasion when the whole group of companies (Edway Group) is a co-founder of the project.

ICO Marketing

Good banner and other ads coverage at the crypto related resources. Tens of blog posts and news in the leading industry media. Bitcointalk thread is very popular. High social media activity. Active own blog.

Communication with the Public

Almost all possible means of communication are active. As I can judge from the Bitcointalk thread the team is highly responsive, open and transparent.

ICO Site

The Chronobank team demonstrates its highly professional approach. The ICO site with a working member area was ready and functioning a month (!) before the ICO start date (December 15, 2016). The site has a nice design and is informative enough to get familiar with the project basics.


The full list of escrow agents is not available yet but the partial list is enough to understand there will be reputable and trusted people in the list.

Bounty Programs

The bounty programs are well-thought and attractive. The rewards seem fair enough and are not overpriced. It’s evident the team worked well on the bounty programs and doesn’t wish to give the reward tokens for low-quality jobs. It’s worth mentioning there are no bounties at all for the social media activities. As for me, it’s a good decision.

The translation bounties are given to those who have better translation skills, not to the one who ‘reserve’ the translation first. Another example of a professional approach.


There are two whitepapers available now — Business Outline and Development Plan. Both are written well and describe the project in general, without the deep technical and economical part. The Business Outline size is 25 pages. It’s big enough to have a general picture of the project. There are some small inaccuracies but they are not substantial much. For example, the whitepaper tells us the LH tokens issuance fee is 1–5% while the home page promises 1–3% numbers.

After the ‘main’ whitepaper is ready I will be able to perform a more detailed analysis.

Keeping Promises and Executing Tasks on Time

It’s a bit early to make any conclusions. The bounty programs details were announced on time.

Working examples, MVA or prototypes

There are no any prototypes or working examples now. However, the majority of current ICO’s don’t have any working examples too.

Terms and Conditions, Risks Disclosure

There are no any legal documents now. I expect they will appear later.

Final Conclusions

First of all I would like to stress I’ve analyzed the ICO process mostly, not the project itself and its business model. My analysis is about how the project team manages its ICO.

On the whole, the team actions during the ICO preparation are professional and competent. The project team researched the previous ICO’s and makes efforts to avoid typical mistakes. All the important components of the competitive and high quality ICO are present. A great amount work has been done, the team demonstrates its responsibility and passion.

A good marketing, management and support before and during the ICO are important and necessary for the ICO to succeed. For me as a long-term investor the project success is important too. A detailed and thorough examination of the project potential market, its business model and risks involved should be made to estimate the project attractiveness. I hope to perform my own research after the ‘main’ whitepaper is published.

Definitely, the project is worth investors attention.