Project name: CINDX
Token ticket: CINX
Security Token Offering Status: Public Sale is ongoing.
Public sale period: October 8 – December 26 2018. Private Sale has finished at 7th of October, but information about funds raised is not publicly available. Hard cap is $21 million, soft cap is $3,8 million. Soft cap has already achieved which has a positive impact on project’s prospects.
CINX is a security token used in CINDX platform for revenue distribution. During STO investors purchase utility tokens CINXO which are options for receiving CINX tokens. CINXO owners will have an opportunity to exchange it to CINX in 1:1 ratio after KYC process. Total CINX supply is 51,500,000 tokens, 51% from it is allocated for sale. The project differentiates an amount of bonuses for Private (20 – 25%) and Public (0 – 17%) sale stages depend on a date of investing. The company was registreted in Estonia. CINDX accepts BTC, BCH, LTC and ETH and fiat currencies.
Brief project description
CINDX team creates a crypto asset management hub which connects investors, traders and developers.
The project gives every person without specific expertise an opportunity to invest in crypto assets using the platform’s marketplace. Investor can choose a manager for their assets: an individual trader, a robot or a fond. The platform contains verified statistics of each participant trades, so it makes possible to choose the suitable by the level of risk trading strategy. Statistics include trading history, risk level and portfolio structure. When choosing a manager, the system automatically copies his actions on the exchange and replicates them in the investor’s accounts.
A trader or manager is one of the key positions in the ecosystem. He is linked with trading terminal via API, use its own dashboard and blog for sharing expert opinions. The platform provides him with an additional place for capital rising by placing offers and his trading results on the marketplace.
Developers, in turn, receive an additional market and provide, on a paid basis, analytical and trading bots, tools for social network analysis and technical analysis.
The platform architecture consists of several key parts:
- CINDX.core consists of trading replication services, activity tracking algorithms, a KYC / AML module, an API gateway for connecting to exchange services and a blockchain network.
- CINDX.trade includes a trading terminal and marketplace on which traders and developers can post financial products: applications, scripts and analytical materials.
- CINDX.market consists of the marketplace of investment products created by managers. The investor can see the profitability of the product, transaction history and the current status of connected accounts.
- CINDX.hub includes a trading strategies editor for algorithmic trading, a test environment using historical data, the ability to audit the code for placing products on the internal marketplace.
- CINDX.talk is a component that provides any user with the opportunity to publish trading ideas, signals, and also useful content.
- CINDX.dao is a system that allows the user to implement a voting system among CINX token holders based on the autonomous organization’s decentralized rules.
As it was mentioned, CINX is a security token. It is used as a payment method and allows holders to participate in revenue distribution and voting. Users who keep CINX tokens within the platform using smart contracts, could get 30% of the revenue generated by token. Token type is not mentioned in official project documentation.
The team and advisors
At first glance, the project has a fairly strong team. All participants can be contacted via social networks. However, the experience of some key individuals is difficult to verify.
Yuriy Avdeev is the CEO of the project. According to his Linkedln page, he has found several projects: CryptoActive, Method Delphi investment company, EcoViileTrade Ltd. CryptoActive provides investment decisions for cryptocurrency market, however there is no information about Yuriy Avdeev. EcoViileTrade и Method Delphi are not mentioned in the internet.
Val Jerdes is a product director. According to CINDX website, he is entrepreneur with 20 years of experience. In 1995, he founded the company Streamlogic, which specialized in analyzing data on transactions in the financial market. He is a lecturer, mentor and advisor to companies associated with venture capital investments. Currently he has 8 similar posts in universities and companies, which casts doubt on his focus on the CINDX project.
Ibraghim Haniev is a company Tech Lead. He is presented as an entrepreneur and developer at the project’s website. According to LinkedIn profile, he has obtained some experience in software development (3,5 years), which can be considered as insufficient. Besides, Haniev has a profile at freelance marketplace with 11 positive and 2 negative feedbacks.
According the Internet resources, project developers are young specialists without experience in blockchain‐based projects. Tech Lead also lacks experience, so it may increase risks for development process and quality of final product. Moreover, some team members do not affiliate themselves with the project in their LinkedIn profiles.
CINDX advisors are well‐experienced managers and venture capitalists. It is important to mention Austin Kimm, ex‐CEO of Renessaunce Insurance and advisor of several blockchain projects, and Keith Teare who is a founder of Accelerated Digital Ventures and TechCrunch founding shareholder.
Frendliness to investors
Official website is available in 11 languages. In the official Telegram chat there are more than 16300 subscribers at the moment of research, however an activity in it is quite low. CINDX news channel has reached only 49 subscribers with 160 – 250 views in each post. Facebook has reached 2700 subscribers. Administration and team answer requests quickly.
- The project has obtained the obligatory European Union licenses of the to operate as a financial institution and to exchange cryptocurrency for fiat money. Currently applied for security token registration as a financial instrument in accordance with the law of EU 809‑2004.
- The project formed a separate roadmap for legal issues. It has scheduled registration in SEC and FSA (Estonian Financial Supervision Authority)
- The actual idea ofthe service connecting investors and traders.
- Availability of publicly available
- It is impossible to verify the experience of key members of project team.
- During STO investors receive utility tokens which are options to receive security CINX.
- There is no balanced supply‐demand token economic model.
- High competition and reducing interest in crypto investments.
- Technical part of the team lack expertise and some team members don not affiliate themselves with the project in their LinkedIn profiles.
- Roadmap covers only technical side of a project, there is no information about marketing KPI and business development strategy.
- A possibility of a sharp token cost decline after listing is sufficiently high because of a large bonuses during token sale. Moreover, 6% (more than $3 million with $1 price per token) of total token supply are allocated for bounty program.
The project solves an important problem of crypto investors lack of expertise, has MVP and a proper legal registration according to the EU standards. However, the interest to invest in crypto assets has decreased significantly in comparison with last year so the project loses its potential audience without even starting a full‐fledged work.
STO conditions contain factors for token price reduction on exchanges. The official website contains unverifiable information about team members.
Our rating: 3 out of 10.