ICO due diligence and review procedure

Token Record
Mar 19, 2018 · 2 min read
Due diligence

TokensRecord.com is launching ICO review platform for project reviews by crypto community. We are trying to set up an Open Transparent Framework for community to do project reviews and to identify projects with big potential.

The due diligence steps are described below:

  1. Team submits project using according form. Submission requirements will be identified by community later. Add as much info as you can.
  2. Project is added to Sandbox after brief review by TokensRecord Team. This step is necessary to filter project with incomplete information.
  3. Projects with enough information get into ICO Due Diligence page and receive an email with our questions to figure out key points of project:
  • Team: who are team members, are their social profiles available.
  • MVP: do they have an MVP available to test.
  • Company: is there a registered company already for selected project?
  • Development: how recent are development updates uploaded? is there an open github repository?
  • Vesting: what is the vesting period for team/advisors tokens?
  • SmartContract: is there a smart contract available and was it audited by experienced team?
  • Experience: is cumulative experience of team and advisors enough to complete the project?
  • Advisors: do advisors prove they support project?
  • Expenses: does expense plan correlate with road map of the project?
  • TokenDistribution: are there any risks for investors in token distribution of selected project?
  • TechDetails: are there enough technical details to understand project?
  • Investor Protection: how protected are investors money after contributing into project?

4) If we do not get answers from the team then in each cell they get red crosses that means they have to work on that area.

5) Community members will be reaching team members in chats and by email too and will add Red Flags or Green Flags to each of the project that will be used on rated stage. Team can also add facts about their project by adding Green Flags.

6) Project that will pass the due diligence process will be added to ICO Directory and reviewed by our team to be rated.

7) Best rated projects will be listed among Upcoming/Active ICOs.

Those steps is our current vision of the ICO review procedure. The procedure will be changed according to community needs and industry requirements.

This article brought to you by TokensRecord Team.

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Open Transparent Framework for community to do project reviews and to identify projects with big potential. https://tokensrecord.com