Auctus ICO Analysis
ICO Token: Auctus (AUC)
ICO Token price: 1 ETH = 2000AUC
ICO Date: March 27, 2018 to March 31,2018
Soft cap: $3mn
Hard cap: $20mn
Pre sale: Raised 958ETH in October Pre sale (1ETH = 2500AUC)
Token sold in ICO: 51% (unsold token will be burnt)
Total supply: 106,000,000
There is private sale available with maximum discount of 15%.
PROJECT OVERVIEW: (Idea not Strong)
Administration in Switzerland, Developed in Brazil, incorporated in the British virgin island.
Auctus is a leading smart contract-powered retirement planning platform, which allows users to create diversified portfolios, consisting of traditional asset classes and cryptocurrencies.
The Auctus Platform brings retirement savers from around the world together, providing a trustless marketplace where users can create and exchange tailored retirement apps and services. The platform furthermore provides information and fee transparency, as well as access to analytic tools and robo advisory, allowing the user to take well informed decisions.
Provides apps and service market place: Retirement apps developed by community (robo advisory apps), Users can purchase apps with AUC token and developers can generate income stream.
Human advisory: Users can purchase additional advisory from from experts.
Smart Contract Powered Fee Structure Smart contracts make it possible to create a result-oriented, transparent and low fee structure. AUC Tokens stay in a trustless escrow and fees are paid only for periods that robo-advisor predictions are right. This system also brings fee transparency, allowing each user to know exactly what they are paying.
Alpha Released in Q1’18
In an initial phase (alpha version), all holdings will simply be uploaded virtually. Once all retirement savings have been uploaded to the platform, the user will be able to run analytics and robo advisory on the entirety of the retirement savings. At a later stage, it will also be possible to trade cryptocurrencies and tokenized assets straight from the Auctus Platform, enabling further features such as automated rebalancing between cryptocurrency and traditional holdings. In addition, the Auctus Platform has a marketplace for retirement apps, which allows you to customize your user experience.
Trading:
By using the Ethereum network it is possible to create a global contribution gateway in which users are able to contribute to their voluntary retirement savings using ETH or any other tokenized currency. The contributions will need to be converted into the assets that compose each user’s portfolios.
The Auctus platform will ultimately have a seamless exchange mechanism using the 0x open protocol (https://0xproject.com/), or a similar mechanism, to trade between any kind of token on the Ethereum network.
A hybrid approach can be used in the initial phase, connecting to centralized exchange APIs until the decentralized approach achieves good liquidity.
TOKEN UTILITY:
All transactions on the marketplace will have to be made in AUC token: Payments for apps and Payments for services.
Incentives for good behaviour ensured by smart contracts: Payments of apps can be linked to results and No payment for bad advice!
Robo-advisors and human advisors have a result-oriented fee structure to incentivize good advice. Users won’t have to pay for mediocre advice.
All fees charged by the funds, using Auctus’ platform, will be automatically processed by smart contracts and a percentage of these fees will be collected by the platform. Auctus will charge approximately 20% (or negotiable) of the fees the funds charge to the participants.
TEAM, ADVISORS AND VC’S:
Team:
Project does not have an all star team but they are working on this project since Q3’17 and have made sure to prove themselves by coming up with alpha before the main sale.
Advisors: (Strong)
Mitja Pirc : Partner at Cofound.it, responsible for advising startups and giving insight in new business models, blockchain, data and analytics.
Martijn van Eck : Head of Pension at Holland Fintech with previously mentor at fintech accelerator programme in YES Bank.
Philippe Castonguay: Former relationship manager for developers at 0x.
Steven clark: Managing director at Horizon investments and professor at University of North Carolina
VC: No information Provided
TOKENOMICS: (Strong)
Total supply of AUC token is 106,000,000 tokens, hard cap is USD 20m.
The price of 2000 AUC = 1 ETH and Ether currently being very volatile.
Unsold tokens will be burnt.
ICO: 51%
Auctus Core Team (20%)
Vesting: 2 year vesting with 6 month cliff. This means tokens will not be immediately transferable.
Reserve for Future Stakeholders (18%)
This stakeholder reserve will be locked via smart contract for 12 months.
It can be used for strategic partnerships, to encourage the adoption of the Auctus Platform and the provision of capital in case of excessive devaluation of ETH. If deemed unnecessary, these tokens will be burned.
Partnerships and Advisory (9%)
Vesting: 80% of tokens with 6 month vesting and 3 month cliff. 20% of tokens will be immediately transferable after the close of token sale.
Bounties (2%)
ROADMAP:
They have made changes in roadmap with earlier roadmap aiming at ICO and then releasing Alpha in Dec 2017.
However the updated roadmap was changed with Alpha coming in Q1’18 and after that the team decided to go for main sale.
Q2’18 will focus at partnership with exchanges and development of Beta Platform and releasing beta in Q3’18.
GITHUB: https://github.com/AuctusProject
Proven work on Alpha version.
MARKETING:
They have mention on bloomberg, investopedia, cnbc, coin telegraph, venture beat.
And with followers on social media:
Twitter: 5,000
Telegram: 5,000
Reddit: 110 readers and Various Video logs on youtube.
PARTNERSHIPS:
Integration with Bancor to provide continous liquidity
https://blog.auctus.org/auctus-integrating-bancor-protocol-to-provide-continuous-liquidity-for-auc-token-holders-99b2473826b9
PROS/CONS:
During our call with Founder Raphael and CTO Daniel several questions were answered confidently and were already working on beta version. Claiming to launch it ahead of timeline.
Funds will be refunded if not reached its softcap. They have clear views on where they want to proceed and focusing on developement.
They also had planned expenses and were very transparent during conversation.
CONCLUSION:
In our view the project lacks novelty factor and Utility of the coin is not unique as they could have used ETH token. Overall need for AUC is not convincing enough.
Our rating for Auctus would be 6.5/10.
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