GoNetwork ICO Analysis

ICO Token: GOT
ICO Token price: TBA
Hard cap: TBA
Token sold in ICO: 50% i.e. (50 million)
Total supply: 100,000,000

PROJECT OVERVIEW:

GoNetwork is issuing an ERC-20 token that will be used to create and finalise contracts on the exchange, a process it calls state channels. Conceivably, the token will be used to power GoExchange, which is the first use case provided by the company. A state channel essentially allows two parties to transact with one another off-chain for as long as necessary until they are ready to settle.

They have launched Pocket as a open source software and will integrate it into GoNetwork.

A major use of Pocket is for parents to create smart contract controlled pocket change for kids. Parents can create debit card contract for kids where they incentivise wise usage of the funds by the kids. The fund can be controlled by multiple parent and access to funds can be fully controlled and monitored by them.
The app also has a merchant view — that merchants can use to charge people for various products and services. People can also transfer funds between each other using this feature. Again, the nature of the transaction can be controlled by the issuer of the debit card.

To make the app fun to use, they have created a tap to pay functionality, where, users can pay each other by simply creating a checkout and bringing the phone close to each other to make transactions. To add a level of security they are also using finger print scanner technology.

TOKEN UTILITY:

One of the goals of the digital utility token GoToken (herein “GoToken” or “GOT”) is to incentivize long lived state channels. As such, when a state channel is opened, the participants must stake GOT.

The longer a channel remains open, the higher the return is to the participants in the state channel. The collected channel longevity fee is sent to the parent contract and its owner which maintains a map of all open payment channels and addresses initiated from itself.

TEAM, ADVISORS AND VC: (Weak)
Team and advisors

Rashid Khan (CEO GoNetwork): Software engineer and also CEO Infinidy
Xun Cai (COO GoNetwork): CTO Infinidy

The team built Zombies vs Aliens
- Top 10 app in 8 countries
- Top 100 app in 37 countries
- 1.5M+ installs: https://goo.gl/dJNem3 -

Amit Shah (CTO GoNetwork):VP Software and R&D at bluerover

ADVISORS:
Jeff Morris Jr: Director of Product, Revenue at Tinder
Laurent Bernardin: Chief Operating Officer at Maplesoft 18 years

VC: No Information

TOKENOMICS:

*No Infomation on Vesting

USE OF PROCEEDS:
Proceeds from the GoToken distribution will be revenue of the Token Generator and will be utilized by the Token Generator in its sole discretion. The Token Generator intends to use certain of the proceeds for general working capital and administration purposes, to pay for operating expenses, as well as to hire the Company to develop the GoNetwork platform, help enterprises re-imagine or build their businesses on the blockchain, develop more open source software that may be helpful to the community and build decentralized applications using GoNetwork software.

ROADMAP:
Not Available

GITHUB:
Weak git profile (https://github.com/gonetwork-project)

MARKETING:
Twitter followers: 45k
Telegram: 68k
Medium: 1.8k
Youtube: 1.4k

The only Hype is created as the team was winner of EthWaterloo (https://medium.com/@gonetwork/we-won-ethwaterloo-hackathon-the-worlds-largest-ethereum-hackathon-2322670a7646)

PROS/CONS:

PROS:
The team was winner of EthWaterloo (World’s Largest Ethereum Hackathon)
Token supply : 100mn
Team founder of Infinidy (Zombies vs Aliens)

CONCERNS:
No Roadmap
Scam Alerts on Reddit
Weak Github
No Strong Blockchain experienced team and advisors

CONCLUSION:
Team is working on off chain state channels like raiden which is competitive space, and with multiple red flags on the project. GoNetwork is not coming as a strong ICO for investment.

We would rate this ICO 3/10.

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