Name: DeCoin
Token Symbol: DTEP
Web: https://www.decoin.io/
GitHub: https://github.com/DECOINio
Documentation: White Paper (available in multiple languages)
ICO status : processing, stage 2 of 3
- private sale: 1 July‐31 August 2018 (completed)
- pre‐sale 1: 1 — 14 September, 2018 (stage 1 completed)
- pre‐sale 2: 13 — 30 September 2018 (bonus 20%)
- public sale:1 — 26 October (it divided into 3 stages, the bonus is reduced from 15% to 6%)
About 100 million tokens were issued, 70 million of them were put up for sale. When hardcap was 30 million$ softcap in$ 4 million, according to the comments of team, already assembled.
In the public sale, after passing the KYC, investors from all countries, except the United States, will be able to participate. The minimum investment amount is $ 500.
Project Summary
The project team is going to create a multi‐currency exchange DTEP to exchange cryptocurrencies with the capabilities of the investment Fund. Each token holder is promised a reward of 10 – 20% of the exchange’s income (they promise 20%, but without firm guarantees). Fees will be reduced
for holders of DTEP tokens on the exchange (the transaction fee will be 0.15%, for the remaining 0.25%). The safety of the site will be ensured by withdrawing 97% of funds from cold wallets and insurance of the remaining 3%. The exchange plans immediately to list Bitcoin, Bitcoin Cash, Ether, Ripple, Litecoin, Neo, Cardano, Stellar.
Additionally, the team offers:
Credit cards (in fact debit, without a credit limit) with the ability to quickly transfer cryptocurrency to Fiat and withdraw the Deposit to the DeCoin card. About 5 types of cards will be issued. The minimum investment to obtain a Basic card is $ 2000. Cardholders will receive discounts and benefits when they make shopping in some stores and with other partners. The list of partners is still unknown.
Decoin (DCI) crypto index. The platform can operate as an exchange traded investment Fund (ETF). Decoin analysts promise to regularly search for promising investment opportunities for users and select up to several crypto companies. Companies selected to participate in the index will exchange their coins for Decoin coins in the amount of $ 1 million or more. This encourages companies to issue their tokens on the Decoin exchange and participate more actively in the D‐TEP exchange on other exchanges. There is the first company Pecunio in crypto index.
The ability to earn through mining with the consensus algorithm Proof of Stake (PoS). Wallets serve as nodes in the network and are rewarded for confirming ownership. Guaranteed remuneration is 6.2% per annum.
The team promises a high level of service with a multilingual 24‐hour call center.
The idea of creating your own exchange token is not new: Binance, Huobi and other exchanges have already created their coins. However, these exchanges are not started with ICO and issue tokens, and issued its own tokens to an already running site. The main issue is competitiveness of site. There are many crypto exchanges, and a leading positions in terms of trading are busy by leaders Binance, Bittrex, Okex. The demand of the exchange will depend on the number of tokens, the convenience of the site, security and competent marketing, and the prospects of the site as an investment Fund — on how effectively it will be managed.
The team promises high speed of transaction confirmation and smooth operation of the exchange. Now the speed of the blockchain is 32 ТВС (it is twice height than the speed of Ethereum, but in comparison with competitors it is not the fastest blockchain).
Where Does Blockchain Come in?
Why this project needs a blockchain, in addition to the issue of tokens on it, is not obvious. According for the descriptions, the blockchain should provide with the transparency of work of the platform and the distribution of income between all owners of the token. It was not possible to get a direct response from the team.
Project Team and Advisors
The company is registered in Bulgaria. The site has links to the profiles of team members in LinkedIn.
Shay Perry (Shay Perry) — CEO. He is a specialist in Forex trading, as well as CEO and founder of Take it Izi (the company’s website does not work, there is no mention of it in the network), and TrustMed, which also could not be found. The name of Shay Perry in the network is mentioned only in conjunction with DeCoin.
Nadav Moshe (Nadav Moshe) — founder. In LinkedIn presented as current partner of 3 companies — IP Ninja, Nitro Ads, Alnaddy.com. The company is not connected with each other neither geographically nor in the field of activity. There is no mention of Nadav Moshe on the websites of these companies or on the Internet at all, except for the founder of DeCoin.
RAM Avissar (Ram Avissar) — adviser. He has worked in the crypto sphere since 2013, in 2017 he founded Bitsme — a consulting company in the field of blockchain technologies. He collaborated with large blockchain startups Matchpool (as community Manager), CoinDash (Community marketing Manager) and Lendoit. There is no mention of his ties to DeCoin.
There are differences between White Paper and the official website: in WP he is not presented as an adviser. There are also differences in other advisors.
http://joxi.ru/Rmz4DXxc0OQY8A Web
http://joxi.ru/p27Qj89uo5vWJr WP
The team explained this by the fact that they recently launched a new site, so some of the information there is not transferred or may be transferred incorrectly.
Friendliness to the Investors
Documentation is available in several languages. There are 10 000 people in the chat, the team promptly responds to questions, but to some of them are quite evasive.
Positive Indicators
- The viable idea, although it is not new
- According to the team comments, soft cap has assembled
- Multilingual and friendly to investors from different countries
- There is own blockchain and GitHub
- There is not a long road map:
Q3 2018 — launch of the wallet, the token listing on the stock exchanges.
Q4 2018‐ launch of the trading and exchange platform.
Negative Indicators
- Meager whitepaper (14 pages). Answers to other questions can be obtained only in personal communication with the team.
- There is no yellow paper (it usually tells about the technologies, which are used in the project).
- There is no legal examination of the ICO, although the Decoin team began the regulation procedure according to the RMO rules in Singapore, after which the resource will be able to legally act as a global platform for exchange. Also, the legal side promised full compatibility with the General regulations on the protection of personal data (GDPR)
- The experience of the team is in doubt. It is not clear what the founder and CEO were doing before this project.
- It is not clear why there is a blockchain.
- Big hardcore and long collection, which indicates the absence of large investors.
Summing Up
The idea of creating another exchange is far from unique, and with the current competition, the prospects for the development of the site are very vague. The strong team could bring this project a good level in theory, but there is rather dubious team and their background is questionable. It is also difficult to assess the prospects of the investment Fund in the long term. Because of the team and evasiveness in answering to our questions we put 5 out of 10.
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