Terrible Token Tuesday — If you got the money, these 11 ICOs got your disease. Welcome to the Jungle

5 min readNov 20, 2018

The Concourse Open Community continues digging deep in the ICO space + posting awesome research on ConcourseQ. As always, it’s our absolute honor to share the most terrible ICOs with the community on Terrible Token Tuesday!

We’re also #buidling several interesting (non-terrible, we hope) projects in the space. Check out our Discord for more on our very active community.

The most terrible projects for this TTT are:

PlayChip — https://concourseq.io/Q/PlayChip

This is PlayChip’s third time trying to hold an ICO, but we doubt it’ll be a charm. The only things this project seems able to deliver are questionable marketing claims and unverifiable celebrity affiliations. We wouldn’t even wager any PlayChip tokens on this project becoming a success.

EndChain — https://concourseq.io/Q/EndChain

EndChain is a permissioned blockchain. Or maybe it’s on Ethereum? You’d think that’d be clear, but it’s not. But “blockchain” appears 50 times in the whitepaper; that must count for something, right? Of course not. This looks like just another project w/ an unnecessary token, an unverifiable team, and a questionable approach to US securities-law compliance.

TonerCoin — https://concourseq.io/Q/TonerCoin

TonerCoin’s CEO — according to corporate info linked on the homepage — isn’t among the project’s team members. And the CMO’s LinkedIn page says he’s an advisor. We get why no one wants anything to do with this project — its website is flagged as not-secure, and who would buy a token representing ambiguous ownership in an unknown toner company that won’t start selling toner until 2020?

Comedycoin — https://concourseq.io/Q/Comedycoin

Another non-secure website, but no need to take any risks — it has poor design + almost no info. With Comedycoin’s lack of development + niche use case, we don’t expect it to overtake the likes of YouTube and Netflix. If there were any chance of that, wouldn’t the project’s chief architect at least mention his role on LinkedIn? Still, we can’t disagree that with this project, “you can laugh all day everyday 24/7, anytime.”

One Solution — https://concourseq.io/Q/One_Solution

This project — far from a solution to any problem — is raising funds by selling OSF tokens (no use on the platform), which later can be swapped for Solvo coins (dividend-producing governance tokens). It’s not clear why things need to be so complicated; maybe the project’s trying to downplay the fact that “[m]ost of [the platform’s] activities will be taking place in OSF’s own private blockchain, which will be a modified fork of Ethereum.” That does seem like a problem.

Mobu — https://concourseq.io/Q/Mobu

Mobu (a wanna-be security-token platform) makes a lot of ambitious claims, e.g., (1) signed letters of intent from (mineral) mining companies wishing to be listed on the platform in 2019, (2) innovative + unique escrow services, and (3) a long list of partnerships, including w/ international mining moguls. The only thing these claims have in common is the zero evidence provided for any of them. Security tokens might be a thing soon, but we can’t say the same about Mobu.

Announcement: 🦖 Settle’s functionality keeps growing 🦖 A couple new features —

📈 BitMEX data can now be imported into Settle Portfolio, letting you see your composite position, including digital assets and derivatives. https://settle.finance/app/portfolio

📈 RiskChecker, an app for viewing up-to-date risk metrics of your portfolio. RiskChecker uses a historical simulation to estimate your risk for tomorrow and the next 12 months. https://settle.finance/app/riskchecker

Check out Settle at https://settle.finance/os and let us know what you think!

And now some previously featured terrible projects that’re still gearing up towards their ICOs:

ADAB Solutions — https://concourseq.io/q/ADAB_Solutions

Adab seeks to build an Islamic, Sharia-compliant exchange. Problem is, most Islamic scholars would tell you that speculative-asset trading is inconsistent with the teaching of the Sharia. And we doubt that Adab’s awful, non-working “MVP” and empty GitHub repos will do much to convince those scholars otherwise.

Aeternum — https://concourseq.io/Q/Aeternum

Aeternum is trying to do too much. We’re not sure how the same team could be tackling an exchange, a finance app, a fund, and, to top it all off — a smart city(!). Given the team’s iffy competence + lack of full-time commitment, we’d be shocked if they succeeded at any one of these endeavors. Also, they’re calling their token “BitLats.”

Cyber Capital Invest https://concourseq.io/Q/Cyber_Capital_Invest

Cyber Capital Invest strikes us as a bunch of amateurs trying to convince *even* less-experienced investors of their crypto-trading prowess. Everything about this project reeks of amateurism — the website, the available documents, and especially the executive team, which, judging from its experience, would be lucky to break even at a swap meet!

Smart League — https://concourseq.io/Q/Smart_League

Smart League’s token price nearly doubles from presale to ICO. Still a great buy if the token’s projected 20x increase happens. But come on — this is a team with no real blockchain talent, no MVP, and no public code development. And their reliance on Google translate to get the whitepaper from Portuguese to English doesn’t inspire confidence. Não, obrigado!

Desico — https://concourseq.io/Q/DESICO

Desico is trying to raise funds before securing the licence that (even Desico admits) is required to conduct ICO financing in the EU. It’s not clear what the team’s plan is should they fail to get that. Add to that risk a seemingly inexperienced, part-time team, and it’s easy to conclude that this project is a no-go.

Thanks!

The ConcourseQ team would like to thank everybody that helped on these DDs and all the others! If you want to join our community, meet us on our Discord: https://discord.gg/22E3YvP