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  "timestamp": "2018-05-12T02:00:15",
  "op": [
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    {
      "parent_author": "",
      "parent_permlink": "ico",
      "author": "crypto.advocate",
      "permlink": "midas-protocol-ico-analysis-an-all-in-one-cryptocurrency-platform",
      "title": "Midas Protocol ICO Analysis: An All-In-One Cryptocurrency Platform",
      "body": "https://static.wixstatic.com/media/03bd03_57d8c5542daa425eae6fe764135bd376~mv2.png/v1/fill/w_305,h_305,al_c,lg_1/03bd03_57d8c5542daa425eae6fe764135bd376~mv2.png\n\n## What is Midas Protocol?\n\nMidas Protocol is a new ICO (initial coin offering), backed by Regulus Investment and Capital Holdings, which aims \"to be the smartest universal wallet for all essential crypto needs from safekeeping, intelligent trading, portfolio management, easy conversion to fiat and spending of cryptocurrencies.\"<3> For new cryptocurrency investors it can be a bit overwhelming and they must either rely on centralized exchanges to hold funds or figure out how to set up several wallets of their own. The first option relinquishes control of their cryptocurrencies and puts full trust in entities which have proven to be vulnerable, while the second approach requires some basic technical knowledge and juggling multiple wallet clients. Midas Protocol offers an all-in-one solution where users can store, exchange, monitor and transact with cryptocurrencies, in a multi-platform client suitable for all levels of experience.\n\nThe host of features offered by Midas is extensive, but some of the highlights include:\n\n* An encrypted, multi-currency wallet;\n* Advanced cryptocurrency portfolio integrated with the wallet;\n* Trading with linked exchanges directly from the platform without exposing private keys;\n* The ability to spend crypto on any website supporting cryptocurrency payments via the wallet;\n* News and market alerts tailored to the cryptocurrencies in your portfolio;\n* Trading leaderboards with the ability to follow top traders and copy their trades;\n* Order types beyond what is available on existing exchanges; and\n* Multi-platform coverage including iOS, Android, Windows, Mac and Web.\n\n## Midas Protocol Highlights <1>\n\nStarted: Q1 2018\nMarket cap: $14,060,160 <2>\nPrice per coin: $0.03 <2>\nReddit subscribers: N/A\nTwitter followers: 282\nFacebook likes: 217\nTelegram members: 2,200\nCirculating supply: n/a\nTotal supply: 500,000,000\nConsensus method: ERC20\n\n[Telegram](t.me/midasprotocolglobal)\n[midasprotocol.io](https://midasprotocol.io/?a=rkKXte) (referral link)\n[Whitepaper](https://drive.google.com/file/d/11RqiWjuKxH_hxsfDmffEztZqk3RZL9JP/view)\n\n## The Midas Protocol platform\n\n https://static.wixstatic.com/media/03bd03_36b43dd2b2824d549c475700c43b68e3~mv2.png/v1/fill/w_1281,h_810,al_c,usm_0.66_1.00_0.01/03bd03_36b43dd2b2824d549c475700c43b68e3~mv2.png\n*Midas Protocol Platform <4>*\n\nMidas Protocol connects a number of services, described further below, to the Midas Wallet. These connections are mostly handled via API's which come in four levels of access: <5>\n\n* Level 1 (Informative): allows apps to push information to the wallet and show content;\n* Level 2 (Portfolio sharing): enables access to the user's trading history which then informs trading tips, coin analysis and predictions;\n* Level 3 (Make orders): allows apps to carry out trades, though users can set limits such as max daily volume, max bid, etc.\n* Level 4 (Deposit/withdraw): enables apps to deposit and withdraw from exchanges when needed.\n\n## Exchange services\n\nThe Midas platform will be connected to a number of centralized and decentralized exchanges. Kyber Network will be the first exchange to be integrated and will likely be followed by Airswap, Bancor and NeonExchange before proceeding to centralized exchanges. <6>\n\nHaving several exchanges linked directly to the wallet offers a number of benefits. For starters, the ability to transact across several cryptocurrencies without the need to move funds from a wallet to the exchange which has a particular coin. Furthermore, the Midas platform will monitor prices across linked exchanges to determine which exchange has the best rate for specific pairings. Users can configure a setting called \"slippage\" for the percent deviation they are willing to accept and the system will then determine which exchange to transact on based on liquidity and least slippage. The ability to execute orders on multiple exchanges concurrently will be added at a later phase. <6>\n\nOne concern with linked exchanges that I've raised before (see my [Blockport](https://www.cryptoadvocate.net/single-post/blockport-a-new-era-cryptocurrency-exchange) review) is around network lag brought about by the complexities in communicating with external exchanges and in executing trading strategies on them (more on this later). However, as Minh Chu, CEO of Midas Protocol, explains:\n\n*With DEX's such as Kyber Network, the trade/exchange can be executed directly from [the] wallet with small latency. The trade logics are processed at the backend of [the] Midas platform, [which] sends actionable event[s] to [the] user-wallet or smart-contract to execute [the] trade. We also have [a] plan to build a separate backend trading engine to support trade[s] with top CEX's over API. For those users [who] already [have] their fund[s] scattered over many exchanges, they can use advanced supportive trading functions on Midas platform to trade and manage their fund on CEX's. <7>*\n\nCryptocurrencies are a quick moving market and I still have my doubts until I see the platform in action but the fact the team have thought about a separate trading engine and have experience from advisors such as Victor Tran gives me confidence that they can overcome this issue.\n\n## Wallet services\n\nhttps://static.wixstatic.com/media/03bd03_db8b74ea5ebf4d0bae2c1ab2854050ef~mv2.png/v1/fill/w_608,h_515,al_c,usm_0.66_1.00_0.01/03bd03_db8b74ea5ebf4d0bae2c1ab2854050ef~mv2.png\n\nThe Midas Wallet has a simple, intuitive design (pictured above <8>) but on the backend it will store the full blockchain node in your wallet including history, offline transaction signing and encrypted private keys. However, the wallet does not actually download the full blockchain, rather it requests that information via the Midas Wallet service which enables the storage of several tokens with minimal resources. The wallet can also be used to pay for e-commerce transactions through Simple Payment Verification (SPV), provided the site supports crypto payments.\n\nMidas offers several approaches to storing wallet and trading data. As far as free options, it can be stored locally in the wallet with the ability to import or export data or it can be stored on the Midas cloud, thus allowing users to run multiple clients across multiple platforms in sync. Midas also offers the option of saving data on the Midas Storage Blockchain, which will store encrypted data on the blockchain for a small transaction fee. In terms of security of the wallet itself, all private keys are encrypted and the platform comes with additional security in the form of 2FA on app and on web. The team are are also considering integrating Civic, uPort and U2F on the desktop app and web wallet. <9>\n\nInitially the wallet will support Bitcoin, Ethereum and all ERC-20 tokens and plan to add support for NAV, DASH, Monero and other coins in the future. Originally the team planned to support staking for POS cryptocurrencies such as NAV Coin but unfortunately this feature has been removed from scope (the site should be updated to reflect this soon). <10> I was a huge fan of this feature but understand the technical complications behind implementing staking and in all likelihood it would have require users to keep a copy of their wallet online at all times, hindering the goal of making the wallet easy to use for everyone.\n\nAlthough the details are confidential at this time, Midas is also working with banks and payment gateways to enable fiat funding directly to the wallet. Initially the team are focusing on the ASEAN market so those currencies will likely be the first to be supported. It will be dependent on jurisdiction but the ability to make fiat-to-crypto and fiat-to-crypto transactions with the exchange-connected wallet would be huge for consumer adoption and simplifying the process of investing into cryptocurrencies. <11>\n\nThe ease of use, features and multi-currency support offered by the Midas Wallet should reduce the need to maintain multiple wallets and encourage users to move away from exchanges where they don't truly own their funds. Making crypto ownership simpler and controllable via a single platform is a major step towards mass adoption and Midas Protocol is playing a role.\n\n## Portfolio services\n\nThe Midas Protocol platform will include portfolio monitoring and performance statistics which can be displayed in BTC, ETH, USD or other fiat currencies, similiar to apps like Delta or Blockfolio. However, that's where the similiarities to existing products ends.\n\n https://static.wixstatic.com/media/03bd03_8f6223c564a04723950bfd10662b9d1a~mv2.png/v1/fill/w_608,h_526,al_c,usm_0.66_1.00_0.01/03bd03_8f6223c564a04723950bfd10662b9d1a~mv2.png\n*Midas Protocol Portfolio <12>*\n\nThe Midas Portfolio will not only provide an overview of performance but it will benchmark portfolios against the market average (across the top 20-200 cryptocurrencies, dependent on portfolio size). Furthermore, since it is directly linked to the Midas Wallet, which stores blockchain history and trades, there's no need to manually enter transactions. In the future, the AI will actually be able to analyze your portfolio and suggest trading styles and top traders best suited to you.\n\nHowever, arguably the biggest feature is automatic portfolio rebalancing. As far as I'm aware there's no portfolio solution out there right now that does this - if there is, let me know, I'd love to check it out. My one concern with automatic rebalanced revolves around capital gains tax (CGT). Several countries charge CGT on crypto transactions and given the volatility of cryptocurrencies it's likely that portfolio allocation would shift frequently and at times dramatically. In order to rebalance to a specified allocation, the platform would have to execute cryptocurrency trades which would then trigger CGT. Luckily, the Midas Protocol team have thought this through and will give users full control over the frequency and triggers for rebalancing, as well as portfolio allocation. <13>\n\n## Trading services and leaderboard\n\n https://static.wixstatic.com/media/03bd03_a16fb496155d46869633becba146ef45~mv2.png/v1/fill/w_384,h_530,al_c,usm_0.66_1.00_0.01/03bd03_a16fb496155d46869633becba146ef45~mv2.png\n\nMost exchanges, whether a DEX like IDEX or a CEX like Binance, are pretty straightforward in terms of trading offerings. There's some information on order book depth, trade history, charts covering price action and users have the ability to set buy and sell orders. Some exchanges are restricted to only limit and market orders while others take it one step further and offer stop limits as well. With Midas, they add on to these offerings with the addition of advanced order types including: <14>\n\n* Trailing stop-loss, which reflects price movement and increases as a cryptocurrency's price rises, thus protecting profits;\n* Conditional trailing stop-loss (example above <15>), which is the same as above but the user can specify a certain point where the trailing stop-loss kicks in;\n* Multiple standby order, which allows users to set orders using a specified amount of funds for all of them rather than splitting those funds across coins. As an example, Bob has 1 bitcoin that he wants to use to purchase alt coins and is looking at ARK, POWR, BAT and XLM. Bob can either split his funds into 0.25 BTC orders for each, or watch to see which currencies hit his target buy zone and then log in to make his purchase. With multiple standby orders, Bob can instead set a 0.5 BTC order for ARK, a 0.25 BTC order for POWR, a 1 BTC order for BAT and a 0.5 BTC order for XLM even though the total of the orders exceeds 1 BTC. These orders will then trigger as the buy prices are reached, to a maximum of Bob's specified order, until the 1 BTC is used up across the transactions.\n\nThese order types will give users full control over their trades and should appeal to advanced traders, particularly those familiar with Forex markets where these order types are more common.\n\nIn addition to advanced order types, Midas will also introduce trading strategies. Users can create programmable trade strategies either via a custom script or created through a simple drag and drop interface within the platform. <16> Furthermore, the Midas platform will make use of data from users' open and closed trades, real-time market orders and movements, as well as blockchain data in combination with AI/ML to provide valuable trading advice based on user preferences and trading strategies. This trading advice will include automated technical analysis (TA) to determine and execute exits and entries. Initially the platform will analyze technical indicators such as MACD, OBV and RSI, but in later phases will attempt to determine breakout and consolidation patterns such as bull flags, as well as identifying support and resistance points. <17>\n\nThere is some competition in this space, as other platforms such as Taylor allow users to specify trading strategies and automatically carry them out when indicators reach set levels. However, support/resistance identification and technical patterns are not offered by any competitors that I'm aware of so it will be interesting to see if the team can be the first to implement that and how accurate it will prove to be.\n\nLastly, Midas also offers a trader leaderboard which gives users the ability to follow top traders and copy their trades, similiar to the Blockport platform. By default, users are opted out and do not appear on the leaderboard but Midas allows traders to opt in to share their portfolio and trading data in order to verify their performance; once users opt in they are  eligible to rank on the trading leaderboard. Midas Protocol will provide a strong incentive to traders, allocating 10% of service income to be distributed amongst the top 10% performing traders. Furthermore, traders are able to set a monthly fee in Midas Tokens (MAS) which users can pay to follow their portfolio and trades. <18> In order to prevent market manipulation, traders will have a max number of followers based on the size and liquidity of their portfolio, however even with this limitation there are clear financial benefits available to traders.\n\nUsers are able to see not only the ranked traders overall, but Midas will also maintain several sub-leaderboards based on size of portfolio, liquidity and types of cryptocurrencies. The platform AI will provide trader recommendations based on the composition of user portfolio and trading style and the inclusion of sub-leaderboards will ensure a suitable match is available. Users may follow an unlimited number of traders but they must pay the fee in MAS, per month per trader, which will give them access to the trader's detailed portfolio and allow the user to be notified of future trades, or if desired, automatically follow future trades.\n\nOverall, the combination of advanced order types, AI-powered and programmable trading strategies, as well as trader leaderboards, delivers a strong product offering in itself and should attract both experienced traders and new investors.\n\n## Market services\n\n https://static.wixstatic.com/media/03bd03_66a74d9cd4bf41c484c5b4c28cff6eab~mv2.png/v1/fill/w_278,h_494,al_c,usm_0.66_1.00_0.01/03bd03_66a74d9cd4bf41c484c5b4c28cff6eab~mv2.png\n*Midas Notifications Tab <19>*\n\nMidas monitors real-time market and blockchain data and processes it through AI and ML in order to provide information on market trends, trending coins, pump and dumps and more. This information is then presented via a news feed and through custom alerts which can be tailored to only the coins in a user's portfolio; Midas can even send scheduled reports. Not only does Midas provide a central news feed for the information relevant to you, it is powered by real-time market and blockchain data.\n\n## The Midas Protocol (MAS) token and the Midas Foundation\n\n https://static.wixstatic.com/media/03bd03_de61ae48de26474baa010d665f8609d9~mv2.png/v1/fill/w_823,h_501,al_c/03bd03_de61ae48de26474baa010d665f8609d9~mv2.png\n*Usage of Midas Token (MAS) <20>*\n\nThe MAS token has a number of use cases across the platform, as seen above. Firstly, MAS is used to pay for value added services within the platform. These services are split across three tiers of membership: <21>\n\n* Free: limited functionality including storage of multiple cryptocurrencies and the ability to place buy and sell orders via connected exchanges;\n* Lite: same as above, but with some technical analysis and automated tools, as well as the ability to follow traders (but not copy trades);\n* Pro: full functionality including all of the above, all trading features, market information and alerts, and the ability to copy orders from top traders.\n\nPricing is subject to change but initial estimates are $5 USD worth of MAS per month for Lite and $9 USD worth of MAS per month for Pro. The team plans to offer advanced features in trial packages to encourage adoption. <22>\n\nSecondly, as described above, MAS is used across the trading leaderboard. Users pay a monthly fee, which is set by the trader and of which Midas takes a 5% cut, in order to gain portfolio access and copy trades. Thirdly, MAS is used to pay out top performing traders in return for sharing their high ROI trades and portfolios.\n\nLastly, MAS will be used to fund the Midas Foundation, a decentralized crypto fund which Midas Pioneers (more on this below) can submit promising projects to be reviewed by the board of trustees. If it passes board review, then Midas token holders are able to vote on whether to fund the project and 51% approval results in the project being funded. Projects funded by the Midas Foundation must provide a bonus structure to Midas token holders as follows: <23>\n\n* If the project is pursuing an ICO, the project must accept MAS as a payment method and must provide a discount and bonus to the Midas community; or\n* If the project is pursuing a traditional model, MAS holders who contribute to the funding will become a shareholder with a certificate of shares and voting rights.\n\nThe Midas Foundation will be set up in Singapore according to the Singapore Law on Trust Fund and Society Act and will focus on funding projects in the ASEAN region. Part of the allocated funds will be used to donate to charity projects and philanthropic funds in the region as well.\n\nIn summary, MAS will be used to pay for premium services, to follow top traders and their trading ideas, to pay out top performing traders and to contribute to promising ICO's and startups, all of which provides clear token value and will reduce token supply over time. If that wasn't enough, MAS holders are also able to vote on new features for the platform and Midas has plans to buy back and burns tokens periodically in order to limit supply. <24>\n\n## Midas ICO and Pioneer sale\n\nhttps://static.wixstatic.com/media/03bd03_21220373c6044f7c99e4849ce8710949~mv2.png/v1/fill/w_608,h_634,al_c,usm_0.66_1.00_0.01/03bd03_21220373c6044f7c99e4849ce8710949~mv2.png\n*Midas Token Distribution <25>*\n\nThere will be a total supply of 500M MAS with 25% kept by the core founders and team, and a further 25% used for operations, marketing and advisors. Tokens kept by the team will be vested as follows:\n\n* 10% released after 6 months;\n* 20% released after 1 year;\n* 20% released after 2 years;\n* 20% released after 3 years;\n* 20% released after 4 years; and\n* 10% released after 5 years.\n\nThe long-term distribution of these tokens should incentivize the team to continually develop and improve upon the platform.\n\nThe remaining 50% of MAS will be available via token sales in two rounds. The plan is for half of these to be available in the Midas Pioneer sale, which will officially begin on May 25th and run until June 10th, though it's looking as though a larger portion may be sold due to high demand. During the Pioneer sale, MAS will be offered at a rate of 13,500 MAS per ETH with a max cap of 10 ETH for individual pioneer contributors and a max cap of 2000 ETH from private pioneer contributors. Bonuses above the 10,000 MAS crowdsale rate will be locked until 3 months after the completion of the ICO. In addition to the bonus rate, Midas will also be offering a number of early adopter incentives to Pioneer sale participants including the ability to submit projects to the Midas Foundation. Additionally, Pioneers will also receive a Pioneer badge on their profiles which entitles them to a lifetime 20% discount on all premium features. <26> Lastly, the team has said that Pioneers will be the first users to gain access to test early versions of the platform. <27>\n\nThe crowdsale will take place from July 1st until July 15th and as mentioned above, even though 25% of MAS supply was planned to be available for this, demand for the pioneer sale may change that. For now, the team have stated that if the pioneer sale receives overwhelming demand they will reserve a minimum of 5M MAS for the public crowdsale at a rate of 10,000 MAS per ETH.\n\nThe team have put together a great early adopter incentive package so if you're interested in the platform it's definitely worth getting involved in the Pioneer sale. The standard bonus rate is 35% though using my referral link entitles you to a 50% MAS bonus, 15% above what you'd receive otherwise, plus early access to contribute.\n\n## Roadmap\n\n https://static.wixstatic.com/media/03bd03_43ea9c45013942b086f182db43e2e7f2~mv2.png/v1/fill/w_555,h_992,al_c/03bd03_43ea9c45013942b086f182db43e2e7f2~mv2.png\n*Midas protcol roadmap <28>*\n\nAbove is Midas Protocol's high level roadmap. Although there's no working product at this time, if the team can adhere to their roadmap timelines, it's not far off. Alpha launch is expected in Q3 2018 while the Beta and mainnet should roll out in Q4 2018/Q1 2019.\n\nIn terms of marketing, Midas plans to leverage their integration with Kyber Network to acquire an initial user base and will introduce in-app rewards to encourage users to sign up for the platform. These rewards will be in the form of non-transferable MAS and can be earned both by referring new users and by new users activating accounts. The team also will coordinate further marketing activities around key launch dates.\n\nEvery ICO investor always wants to know about exchange listings. There's no guarantees in the ICO market and teams are generally under strict NDA policies, however the CEO is confident about future exchange listings: <29>\n\n*Midas is backed by Regulus Investment and Capital Holdings (RICH), a private fund and ICO consultancy service provider. RICH is a founding member of GITA (Global ICO Transparency Alliance) where they work hand in hand with many exchange to help clean up the ICO scene. That relationship will help [reduce] the cost of being listed on exchanges.*\n\nThis comment from the CEO certainly gives me confidence about the likelihood of exchange listings after the ICO and those associations should open up future exchange integrations within Midas Protocol as well.\n\n## The team\n\nThe Midas Protocol team is largely based in Vietnam and Singapore and boasts extensive blockchain experience, with many of the core team members having played a leading role in existing cryptocurrency projects including TomoChain, Kyber Network, ZCoin and NEM.\n\nDr. David Nguyen Vu, chairman and CFO, has been the chairman of Regulus Investment and Capital Holdings for 5 years, is the president of the blockchain intelligence group TokenViet.io, is the president of the Vietnam Chamber of Commerce in Singapore and has acted as an advisor for several ICO's including bigbom, suchapp and kambria.\n\nMinh Chu, CEO, was the cloud chief architect at VCCORP for 9 years before leaving to co-found TomoChain, a successful blockchain project that recently completed their ICO. When asked why he decided to pursue the Midas Protocol project, his response was as follows: <30>\n\n*Midas protocol is my brain-child project that I cherish for a long time. I want to create a top-of-its-class platform for traders/investors, which in turn would help [bring] the decentralization ideals closer to reality and more mainstream. Users will keep their cryptos in their wallet, not in CEX's. To do that, they must have a much better system that allows them to trade/exchange/manage cryptos in a much [more] efficient and hassle-free way.*\n\nNgoc Nguyen, CTO, has extensive experience as a programmer and is a core developer for Zcoin. He also led the development of the 2nd most popular web browser in Vietnam, Cốc Cốc.\n\nThe remaining core team members, Phillip Phung (CMO) and Long Phan (COO) bring a wealth of professional experience to the table.\n\nLastly, the advisors on this project are great and bring experience from working cryptocurrency initiatives. Victor Tran is the lead engineer and co-founder of Kyber Network and Long Vuong is the CEO and project lead for TomoChain and former project lead for NEM. Thuc Vu is an AI and algorithms expert currently leading Kambria, a decentralized AI and robotics platform. Giang Trinh and Nguyen Pham both hold executive positions in investment firms.\n\nI really like the proven blockchain experience this team has, with most core members having played a major role in one or more established projects. This gives me confidence that the team will be able to pull this project off as well.\n\n## What I like about Midas Protocol\n\n* All in one cryptocurrency platform that promises to deliver far more within one experience than any competitor;\n* Platform design is intuitive and should appeal to new investors while advanced trading features will appeal to experienced traders;\n* Automated technical analysis inputs;\n* Access to multiple exchanges should provide liquidity and access to the best prices;\n* Social trading will appeal to experienced traders as a revenue source and will appeal to new investors who want to copy proven performers;\n* Social trading aspect is verified based on blockchain data;\n* Clear use case and demonstrable value of the MAS token within the platform;\n* Additional token value dervied from funding initiatives via the Midas Foundation;\n* Relationships with exchanges and the ICO space thanks to backing by RICH;\n* The team have strong backgrounds and have played pivotal roles in other projects;\n* Automatic portfolio rebalancing and advanced order types;\n* Some proceeds given to charity initiatitives;\n* Team tokens are vested long-term;\n* Strong early adopter package;\n* Initial marketing plans in place; and\n* Initial launch is not far off if roadmap is adhered to.\n\n## Concerns about Midas Protocol\n\n* As with similiar multi-exchange concepts, I have my hesitations about network lag and multiple systems communicating until I'm proven otherwise;\n* Unclear how the team will handle the KYC/AML elements required by CEX's and whether this process can happen via the platform itself or whether it will have to happen externally on the exchanges;\n* No working product, though it's rare finding an ICO with one these days;\n* Indicator-based technical analysis should be straightforward to implement but I'm uncertain how effective pattern identification will prove to be;\n* Lack of staking is a disappointment though I certainly can't hold it against the team;\n* Limited following and hype at this stage, but the pioneer sale has not even started yet and their following is growing quickly; and\n* Main plan for initial adoption places a lot of hope on the Kyber Network community.\n\n## Competitors\n\nThere are a lot of competitors that offer features similiar to Midas Protocol. However, very few, if any, offer a complete package as comprehensive as Midas.\n\nBlockport is another platform which offers both social trading and cross-exchange trading and has a number of similiarities to Midas. Both are great projects and I have personally invested in each, however there are some key differences. Blockport's initial focus is in Europe while Midas is focusing on ASEAN countries. Midas offers more advanced portfolio features as well as more order types and a grander vision of AI-powered technical analysis. I would also argue that Midas has a stronger token use case. Ultimately, I like both and someday they could work together but if I had to pick one I'm backing Midas due to the differences described above and greater confidence in the team behind the platform.\n\nAbra is a multi-currency wallet and portfolio with the ability to exchange cryptocurrencies and fund via fiat currencies. However, Midas simply outdoes them in terms of features including portfolio rebalancing, advanced order types, multi-exchange integration and automated technical analysis and news. Similiarly, Bread Wallet is a strong multi-currency wallet but does not offer much functionality beyond that.\n\nEthos is another universal wallet with built-in portfolio, rich performance data and coin insights. Ethos also plans to allow users to established a ColdWallet which will be kept offline and is a strong security offering that Midas does not have, in addition to biometric unlocking and verified wallet domains. Overall, Ethos has a strong product offering particularly in regards to security, however it does not have integrated trading, social trading or portfolio rebalancing so it still needs to be complemented by other platforms.\n\nTaylor is an automated trading and trading signals platform which offers advanced trading strategies similiar to Midas. However, it's sole focus is around trading and it does not offer fund storage, portfolio monitoring, social trading or any of the other features available on Midas.\n\nUltimately, Midas Protocol offers a comprehensive platform that brings together a suite of features you'd need several different platforms to cover. It's like Blockport, Abra and Taylor all wrapped up into one user friendly platform, with some additional features to boot.\n\n## Is Midas Protocol a good investment?\n\nMidas Protocol has a hard cap of 20,000 ETH, which at the time of writing, is a little under $15M USD. To start with, let's look at the valuation of some of the above competitors. Blockport, arguably the closest comparable, is a recent ICO which has peaked at a market cap of $42M and currently hovers around $21M. Bread, which is only a wallet, has achieved a market cap as high as $192M though it currently sits around $67M. Both of these are fairly new projects so likely haven't hit their peaks and yet even these numbers show significant upside for Midas with a modest valuation of $15M. Meanwhile Ethos, another smart universal wallet with rich features that has been around for a while raised 40,000 ETH at ICO, double the hard cap of Midas, and is currently valued at $246M and has been as high as $818M and probably provides the best comparable in terms of long term valuation; even at current valuation, that's 16x higher than Midas and at peak we're talking more than 50x.\n\nLook at the team and their experience and ask yourself if you think they're going to make a mark in the decentralized cryptocurrency services space. Or better yet, ask the team what makes them think they can pull off such a comprehensive platform. That's exactly what I did and their response was as follows: <31>\n\n*Our team and advisors are very experienced in building successful mass-consumer product as well as large-scale complex system[s]. We also have close relationship with many exchanges, e-commerce platforms and relevant authorities. With that, we are confident of our ability and capability to solve the puzzles and push things forward.*\n\nI know I'll be investing in Midas Protocol and the team backing it. In terms of expectations, it's always difficult with a unique platform, however Blockport has successfully more than doubled their valuation in a short time and still has a ton of room to grow. That's the least I'd expect from Midas and platform launch late this year/early next year should provide some early price catalysts. In terms of long-term valuation, given the features offered by the platform in addition to the token model and project funding via the Midas Foundation, I'm looking at potential Ethos-level valuations.\n\nBut more importantly, read what I wrote about the platform in this article. Does Midas Protocol sound like a platform you'd want to use and wish existed right now? Then [get involved](https://midasprotocol.io/?a=rkKXte) (referral link) in the Pioneer sale and be one of the first to test it out, as well as picking up some great early adopter perks.\n\n## Conclusion\n\nFirstly, I'd like to thank the Midas Protocol team for making themselves available to answer my many questions and allowing me to quote them in this article.\n\nI believe Midas Protocol is a comprehensive all-in-one cryptocurrency platform which will appeal to new investors and experienced traders alike. The simplicity of the multi-currency, exchange-integrated platform in combination with a central, tailored newsfeed and the ability to copy trading ideas from top traders will go a long way to attracting new investors to the cryptocurrency space. Meanwhile, advanced order types, portfolio rebalancing and the ability to profit from sharing performance data will attract even hardcore cryptocurrency investors. I have plenty of concerns over how all the different services and exchanges are going to interact but the team has already delivered many successful projects, and they believe in themselves as well, which makes me believe in them as well.\n\nI really like Midas Protocol as a long term bet and even though comparables for long term upside are limited, an eventual valuation in the hundreds of millions isn't out of the question. I plan to invest in the Pioneer sale and look forward to being one of the first to test the platform out. Want to join me? The Pioneer sale starts soon and you can get a 50% bonus (as opposed to 35%) and early access to contribute by using the following referral link.\n\nhttps://midasprotocol.io/?a=rkKXte\n\nFull disclosure for all referral links in this article, I do receive a 5% commission on contributions made via these links. If you wish to contribute without using my referral link you can go directly to https://midasprotocol.io\n\nIf you have any comments, post below! If you enjoyed the article and found it informative, please consider leaving a small donation to help support the site:\n\n**ETH & ERC20: 0xEFC6eb094CA849DB9b8628B6cC9c1e601ECf21bc**\n**Bitcoin: 35ag9ZqtH51Bbybmt1PQcmC4W6tDgkB2SZ**\n**Litecoin: MQwoTEseg5dynCsJjrAtoZ4Hm4PSPdGiSt**\n\nIf you are unable to donate, consider supporting Crypto Advocate in other ways, such as sharing the site with your friends or using one of the referral links [here](https://www.cryptoadvocate.net/contribute). You can also follow me on Twitter [@crypto_advocate](https://twitter.com/crypto_advocate).\n\n \n\n## References and Notes\n\nThis post originally appeared at https://www.cryptoadvocate.net/single-post/midas-protocol-crypto-platform and was modified slightly for relevancy and for the steemit audience.\n\n<1> Price, market cap, supply and logo are taken from midasprotocol.io. All social stats taken directly from social media pages\n<2> Based on ETH price at time of writing - target goal is 20,000 ETH\n<3> Quoted from page 2 of the Midas Protocol whitepaper\n<4> Image taken from page 6 of the Midas Protocol whitepaper\n<5> Adapted from page 9 of the Midas Protocol whitepaper\n<6> Adapted from conversation with Minh Chu, CEO of Midas Protocol\n<7> Quoted from conversation with Minh Chu, CEO of Midas Protocol\n<8> Image taken from midasprotocol.io\n<9> Adapted from conversation with Minh Chu, CEO of Midas Protocol\n<10> Adapted from conversation with Minh Chu, CEO of Midas Protocol\n<11> Adapted from conversation with Minh Chu, CEO of Midas Protocol\n<12> Image taken from midasprotocol.io\n<13> Adapted from conversation with Minh Chu, CEO of Midas Protocol\n<14> Information taken from pages 9-11 of the Midas Protocol whitepaper\n<15> Image taken from page 8 of the Midas Protocol whitepaper\n<16> Adapted from conversation with Minh Chu, CEO of Midas Protocol\n<17> Adapted from conversation with Minh Chu, CEO of Midas Protocol\n<18> Adapted from conversation with Minh Chu, CEO of Midas Protocol\n<19> Image taken from midasprotocol.io\n<20> Image taken from midasprotocol.io\n<21> Information taken from pages 20-21 of the Midas Protocol whitepaper\n<22> As per conversation with Phillip Phung, CMO of Midas Protocol\n<23> Adapted from page 19 of the Midas Protocol whitepaper\n<24> As per conversation with Minh Chu, CEO of Midas Protocol\n<25> Image taken from midasprotocol.io\n<26> Information taken from page 20 of the Midas Protocol whitepaper\n<27> Adapted from conversation with Dr. David Nguyen, Chairman and CFO of Midas Protocol\n<28> Image taken from midasprotocol.io\n<29> Quoted from conversation with Minh Chu, CEO of Midas Protocol\n<30> Quoted from conversation with Minh Chu, CEO of Midas Protocol\n<31> Quoted from conversation with Minh Chu, CEO of Midas Protocol\n\nAll other information is either adapted from the whitepaper and other research or is personal opinion.\n\nCrypto Advocate is planning to invest in the Midas Protocol Pioneer Sale.",
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  "trx_id": "03c03520d83eb54e1ec636747d4a9910da2eb7bd",
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      "author": "crypto.advocate",
      "permlink": "midas-protocol-ico-analysis-an-all-in-one-cryptocurrency-platform",
      "title": "Midas Protocol ICO Analysis: An All-In-One Cryptocurrency Platform",
      "body": "https://static.wixstatic.com/media/03bd03_57d8c5542daa425eae6fe764135bd376~mv2.png/v1/fill/w_305,h_305,al_c,lg_1/03bd03_57d8c5542daa425eae6fe764135bd376~mv2.png\n\n## What is Midas Protocol?\n\nMidas Protocol is a new ICO (initial coin offering), backed by Regulus Investment and Capital Holdings, which aims \"to be the smartest universal wallet for all essential crypto needs from safekeeping, intelligent trading, portfolio management, easy conversion to fiat and spending of cryptocurrencies.\"<3> For new cryptocurrency investors it can be a bit overwhelming and they must either rely on centralized exchanges to hold funds or figure out how to set up several wallets of their own. The first option relinquishes control of their cryptocurrencies and puts full trust in entities which have proven to be vulnerable, while the second approach requires some basic technical knowledge and juggling multiple wallet clients. Midas Protocol offers an all-in-one solution where users can store, exchange, monitor and transact with cryptocurrencies, in a multi-platform client suitable for all levels of experience.\n\nThe host of features offered by Midas is extensive, but some of the highlights include:\n\n* An encrypted, multi-currency wallet;\n* Advanced cryptocurrency portfolio integrated with the wallet;\n* Trading with linked exchanges directly from the platform without exposing private keys;\n* The ability to spend crypto on any website supporting cryptocurrency payments via the wallet;\n* News and market alerts tailored to the cryptocurrencies in your portfolio;\n* Trading leaderboards with the ability to follow top traders and copy their trades;\n* Order types beyond what is available on existing exchanges; and\n* Multi-platform coverage including iOS, Android, Windows, Mac and Web.\n\n## Midas Protocol Highlights <1>\n\nStarted: Q1 2018\nMarket cap: $14,060,160 <2>\nPrice per coin: $0.03 <2>\nReddit subscribers: N/A\nTwitter followers: 282\nFacebook likes: 217\nTelegram members: 2,200\nCirculating supply: n/a\nTotal supply: 500,000,000\nConsensus method: ERC20\n\n[Telegram](t.me/midasprotocolglobal)\n[midasprotocol.io](https://midasprotocol.io/?a=rkKXte) (referral link)\n[Whitepaper](https://drive.google.com/file/d/11RqiWjuKxH_hxsfDmffEztZqk3RZL9JP/view)\n\n## The Midas Protocol platform\n\n https://static.wixstatic.com/media/03bd03_36b43dd2b2824d549c475700c43b68e3~mv2.png/v1/fill/w_1281,h_810,al_c,usm_0.66_1.00_0.01/03bd03_36b43dd2b2824d549c475700c43b68e3~mv2.png\n*Midas Protocol Platform <4>*\n\nMidas Protocol connects a number of services, described further below, to the Midas Wallet. These connections are mostly handled via API's which come in four levels of access: <5>\n\n* Level 1 (Informative): allows apps to push information to the wallet and show content;\n* Level 2 (Portfolio sharing): enables access to the user's trading history which then informs trading tips, coin analysis and predictions;\n* Level 3 (Make orders): allows apps to carry out trades, though users can set limits such as max daily volume, max bid, etc.\n* Level 4 (Deposit/withdraw): enables apps to deposit and withdraw from exchanges when needed.\n\n## Exchange services\n\nThe Midas platform will be connected to a number of centralized and decentralized exchanges. Kyber Network will be the first exchange to be integrated and will likely be followed by Airswap, Bancor and NeonExchange before proceeding to centralized exchanges. <6>\n\nHaving several exchanges linked directly to the wallet offers a number of benefits. For starters, the ability to transact across several cryptocurrencies without the need to move funds from a wallet to the exchange which has a particular coin. Furthermore, the Midas platform will monitor prices across linked exchanges to determine which exchange has the best rate for specific pairings. Users can configure a setting called \"slippage\" for the percent deviation they are willing to accept and the system will then determine which exchange to transact on based on liquidity and least slippage. The ability to execute orders on multiple exchanges concurrently will be added at a later phase. <6>\n\nOne concern with linked exchanges that I've raised before (see my [Blockport](https://www.cryptoadvocate.net/single-post/blockport-a-new-era-cryptocurrency-exchange) review) is around network lag brought about by the complexities in communicating with external exchanges and in executing trading strategies on them (more on this later). However, as Minh Chu, CEO of Midas Protocol, explains:\n\n*With DEX's such as Kyber Network, the trade/exchange can be executed directly from [the] wallet with small latency. The trade logics are processed at the backend of [the] Midas platform, [which] sends actionable event[s] to [the] user-wallet or smart-contract to execute [the] trade. We also have [a] plan to build a separate backend trading engine to support trade[s] with top CEX's over API. For those users [who] already [have] their fund[s] scattered over many exchanges, they can use advanced supportive trading functions on Midas platform to trade and manage their fund on CEX's. <7>*\n\nCryptocurrencies are a quick moving market and I still have my doubts until I see the platform in action but the fact the team have thought about a separate trading engine and have experience from advisors such as Victor Tran gives me confidence that they can overcome this issue.\n\n## Wallet services\n\nhttps://static.wixstatic.com/media/03bd03_db8b74ea5ebf4d0bae2c1ab2854050ef~mv2.png/v1/fill/w_608,h_515,al_c,usm_0.66_1.00_0.01/03bd03_db8b74ea5ebf4d0bae2c1ab2854050ef~mv2.png\n\nThe Midas Wallet has a simple, intuitive design (pictured above <8>) but on the backend it will store the full blockchain node in your wallet including history, offline transaction signing and encrypted private keys. However, the wallet does not actually download the full blockchain, rather it requests that information via the Midas Wallet service which enables the storage of several tokens with minimal resources. The wallet can also be used to pay for e-commerce transactions through Simple Payment Verification (SPV), provided the site supports crypto payments.\n\nMidas offers several approaches to storing wallet and trading data. As far as free options, it can be stored locally in the wallet with the ability to import or export data or it can be stored on the Midas cloud, thus allowing users to run multiple clients across multiple platforms in sync. Midas also offers the option of saving data on the Midas Storage Blockchain, which will store encrypted data on the blockchain for a small transaction fee. In terms of security of the wallet itself, all private keys are encrypted and the platform comes with additional security in the form of 2FA on app and on web. The team are are also considering integrating Civic, uPort and U2F on the desktop app and web wallet. <9>\n\nInitially the wallet will support Bitcoin, Ethereum and all ERC-20 tokens and plan to add support for NAV, DASH, Monero and other coins in the future. Originally the team planned to support staking for POS cryptocurrencies such as NAV Coin but unfortunately this feature has been removed from scope (the site should be updated to reflect this soon). <10> I was a huge fan of this feature but understand the technical complications behind implementing staking and in all likelihood it would have require users to keep a copy of their wallet online at all times, hindering the goal of making the wallet easy to use for everyone.\n\nAlthough the details are confidential at this time, Midas is also working with banks and payment gateways to enable fiat funding directly to the wallet. Initially the team are focusing on the ASEAN market so those currencies will likely be the first to be supported. It will be dependent on jurisdiction but the ability to make fiat-to-crypto and fiat-to-crypto transactions with the exchange-connected wallet would be huge for consumer adoption and simplifying the process of investing into cryptocurrencies. <11>\n\nThe ease of use, features and multi-currency support offered by the Midas Wallet should reduce the need to maintain multiple wallets and encourage users to move away from exchanges where they don't truly own their funds. Making crypto ownership simpler and controllable via a single platform is a major step towards mass adoption and Midas Protocol is playing a role.\n\n## Portfolio services\n\nThe Midas Protocol platform will include portfolio monitoring and performance statistics which can be displayed in BTC, ETH, USD or other fiat currencies, similiar to apps like Delta or Blockfolio. However, that's where the similiarities to existing products ends.\n\n https://static.wixstatic.com/media/03bd03_8f6223c564a04723950bfd10662b9d1a~mv2.png/v1/fill/w_608,h_526,al_c,usm_0.66_1.00_0.01/03bd03_8f6223c564a04723950bfd10662b9d1a~mv2.png\n*Midas Protocol Portfolio <12>*\n\nThe Midas Portfolio will not only provide an overview of performance but it will benchmark portfolios against the market average (across the top 20-200 cryptocurrencies, dependent on portfolio size). Furthermore, since it is directly linked to the Midas Wallet, which stores blockchain history and trades, there's no need to manually enter transactions. In the future, the AI will actually be able to analyze your portfolio and suggest trading styles and top traders best suited to you.\n\nHowever, arguably the biggest feature is automatic portfolio rebalancing. As far as I'm aware there's no portfolio solution out there right now that does this - if there is, let me know, I'd love to check it out. My one concern with automatic rebalanced revolves around capital gains tax (CGT). Several countries charge CGT on crypto transactions and given the volatility of cryptocurrencies it's likely that portfolio allocation would shift frequently and at times dramatically. In order to rebalance to a specified allocation, the platform would have to execute cryptocurrency trades which would then trigger CGT. Luckily, the Midas Protocol team have thought this through and will give users full control over the frequency and triggers for rebalancing, as well as portfolio allocation. <13>\n\n## Trading services and leaderboard\n\n https://static.wixstatic.com/media/03bd03_a16fb496155d46869633becba146ef45~mv2.png/v1/fill/w_384,h_530,al_c,usm_0.66_1.00_0.01/03bd03_a16fb496155d46869633becba146ef45~mv2.png\n\nMost exchanges, whether a DEX like IDEX or a CEX like Binance, are pretty straightforward in terms of trading offerings. There's some information on order book depth, trade history, charts covering price action and users have the ability to set buy and sell orders. Some exchanges are restricted to only limit and market orders while others take it one step further and offer stop limits as well. With Midas, they add on to these offerings with the addition of advanced order types including: <14>\n\n* Trailing stop-loss, which reflects price movement and increases as a cryptocurrency's price rises, thus protecting profits;\n* Conditional trailing stop-loss (example above <15>), which is the same as above but the user can specify a certain point where the trailing stop-loss kicks in;\n* Multiple standby order, which allows users to set orders using a specified amount of funds for all of them rather than splitting those funds across coins. As an example, Bob has 1 bitcoin that he wants to use to purchase alt coins and is looking at ARK, POWR, BAT and XLM. Bob can either split his funds into 0.25 BTC orders for each, or watch to see which currencies hit his target buy zone and then log in to make his purchase. With multiple standby orders, Bob can instead set a 0.5 BTC order for ARK, a 0.25 BTC order for POWR, a 1 BTC order for BAT and a 0.5 BTC order for XLM even though the total of the orders exceeds 1 BTC. These orders will then trigger as the buy prices are reached, to a maximum of Bob's specified order, until the 1 BTC is used up across the transactions.\n\nThese order types will give users full control over their trades and should appeal to advanced traders, particularly those familiar with Forex markets where these order types are more common.\n\nIn addition to advanced order types, Midas will also introduce trading strategies. Users can create programmable trade strategies either via a custom script or created through a simple drag and drop interface within the platform. <16> Furthermore, the Midas platform will make use of data from users' open and closed trades, real-time market orders and movements, as well as blockchain data in combination with AI/ML to provide valuable trading advice based on user preferences and trading strategies. This trading advice will include automated technical analysis (TA) to determine and execute exits and entries. Initially the platform will analyze technical indicators such as MACD, OBV and RSI, but in later phases will attempt to determine breakout and consolidation patterns such as bull flags, as well as identifying support and resistance points. <17>\n\nThere is some competition in this space, as other platforms such as Taylor allow users to specify trading strategies and automatically carry them out when indicators reach set levels. However, support/resistance identification and technical patterns are not offered by any competitors that I'm aware of so it will be interesting to see if the team can be the first to implement that and how accurate it will prove to be.\n\nLastly, Midas also offers a trader leaderboard which gives users the ability to follow top traders and copy their trades, similiar to the Blockport platform. By default, users are opted out and do not appear on the leaderboard but Midas allows traders to opt in to share their portfolio and trading data in order to verify their performance; once users opt in they are  eligible to rank on the trading leaderboard. Midas Protocol will provide a strong incentive to traders, allocating 10% of service income to be distributed amongst the top 10% performing traders. Furthermore, traders are able to set a monthly fee in Midas Tokens (MAS) which users can pay to follow their portfolio and trades. <18> In order to prevent market manipulation, traders will have a max number of followers based on the size and liquidity of their portfolio, however even with this limitation there are clear financial benefits available to traders.\n\nUsers are able to see not only the ranked traders overall, but Midas will also maintain several sub-leaderboards based on size of portfolio, liquidity and types of cryptocurrencies. The platform AI will provide trader recommendations based on the composition of user portfolio and trading style and the inclusion of sub-leaderboards will ensure a suitable match is available. Users may follow an unlimited number of traders but they must pay the fee in MAS, per month per trader, which will give them access to the trader's detailed portfolio and allow the user to be notified of future trades, or if desired, automatically follow future trades.\n\nOverall, the combination of advanced order types, AI-powered and programmable trading strategies, as well as trader leaderboards, delivers a strong product offering in itself and should attract both experienced traders and new investors.\n\n## Market services\n\n https://static.wixstatic.com/media/03bd03_66a74d9cd4bf41c484c5b4c28cff6eab~mv2.png/v1/fill/w_278,h_494,al_c,usm_0.66_1.00_0.01/03bd03_66a74d9cd4bf41c484c5b4c28cff6eab~mv2.png\n*Midas Notifications Tab <19>*\n\nMidas monitors real-time market and blockchain data and processes it through AI and ML in order to provide information on market trends, trending coins, pump and dumps and more. This information is then presented via a news feed and through custom alerts which can be tailored to only the coins in a user's portfolio; Midas can even send scheduled reports. Not only does Midas provide a central news feed for the information relevant to you, it is powered by real-time market and blockchain data.\n\n## The Midas Protocol (MAS) token and the Midas Foundation\n\n https://static.wixstatic.com/media/03bd03_de61ae48de26474baa010d665f8609d9~mv2.png/v1/fill/w_823,h_501,al_c/03bd03_de61ae48de26474baa010d665f8609d9~mv2.png\n*Usage of Midas Token (MAS) <20>*\n\nThe MAS token has a number of use cases across the platform, as seen above. Firstly, MAS is used to pay for value added services within the platform. These services are split across three tiers of membership: <21>\n\n* Free: limited functionality including storage of multiple cryptocurrencies and the ability to place buy and sell orders via connected exchanges;\n* Lite: same as above, but with some technical analysis and automated tools, as well as the ability to follow traders (but not copy trades);\n* Pro: full functionality including all of the above, all trading features, market information and alerts, and the ability to copy orders from top traders.\n\nPricing is subject to change but initial estimates are $5 USD worth of MAS per month for Lite and $9 USD worth of MAS per month for Pro. The team plans to offer advanced features in trial packages to encourage adoption. <22>\n\nSecondly, as described above, MAS is used across the trading leaderboard. Users pay a monthly fee, which is set by the trader and of which Midas takes a 5% cut, in order to gain portfolio access and copy trades. Thirdly, MAS is used to pay out top performing traders in return for sharing their high ROI trades and portfolios.\n\nLastly, MAS will be used to fund the Midas Foundation, a decentralized crypto fund which Midas Pioneers (more on this below) can submit promising projects to be reviewed by the board of trustees. If it passes board review, then Midas token holders are able to vote on whether to fund the project and 51% approval results in the project being funded. Projects funded by the Midas Foundation must provide a bonus structure to Midas token holders as follows: <23>\n\n* If the project is pursuing an ICO, the project must accept MAS as a payment method and must provide a discount and bonus to the Midas community; or\n* If the project is pursuing a traditional model, MAS holders who contribute to the funding will become a shareholder with a certificate of shares and voting rights.\n\nThe Midas Foundation will be set up in Singapore according to the Singapore Law on Trust Fund and Society Act and will focus on funding projects in the ASEAN region. Part of the allocated funds will be used to donate to charity projects and philanthropic funds in the region as well.\n\nIn summary, MAS will be used to pay for premium services, to follow top traders and their trading ideas, to pay out top performing traders and to contribute to promising ICO's and startups, all of which provides clear token value and will reduce token supply over time. If that wasn't enough, MAS holders are also able to vote on new features for the platform and Midas has plans to buy back and burns tokens periodically in order to limit supply. <24>\n\n## Midas ICO and Pioneer sale\n\nhttps://static.wixstatic.com/media/03bd03_21220373c6044f7c99e4849ce8710949~mv2.png/v1/fill/w_608,h_634,al_c,usm_0.66_1.00_0.01/03bd03_21220373c6044f7c99e4849ce8710949~mv2.png\n*Midas Token Distribution <25>*\n\nThere will be a total supply of 500M MAS with 25% kept by the core founders and team, and a further 25% used for operations, marketing and advisors. Tokens kept by the team will be vested as follows:\n\n* 10% released after 6 months;\n* 20% released after 1 year;\n* 20% released after 2 years;\n* 20% released after 3 years;\n* 20% released after 4 years; and\n* 10% released after 5 years.\n\nThe long-term distribution of these tokens should incentivize the team to continually develop and improve upon the platform.\n\nThe remaining 50% of MAS will be available via token sales in two rounds. The plan is for half of these to be available in the Midas Pioneer sale, which will officially begin on May 25th and run until June 10th, though it's looking as though a larger portion may be sold due to high demand. During the Pioneer sale, MAS will be offered at a rate of 13,500 MAS per ETH with a max cap of 10 ETH for individual pioneer contributors and a max cap of 2000 ETH from private pioneer contributors. Bonuses above the 10,000 MAS crowdsale rate will be locked until 3 months after the completion of the ICO. In addition to the bonus rate, Midas will also be offering a number of early adopter incentives to Pioneer sale participants including the ability to submit projects to the Midas Foundation. Additionally, Pioneers will also receive a Pioneer badge on their profiles which entitles them to a lifetime 20% discount on all premium features. <26> Lastly, the team has said that Pioneers will be the first users to gain access to test early versions of the platform. <27>\n\nThe crowdsale will take place from July 1st until July 15th and as mentioned above, even though 25% of MAS supply was planned to be available for this, demand for the pioneer sale may change that. For now, the team have stated that if the pioneer sale receives overwhelming demand they will reserve a minimum of 5M MAS for the public crowdsale at a rate of 10,000 MAS per ETH.\n\nThe team have put together a great early adopter incentive package so if you're interested in the platform it's definitely worth getting involved in the Pioneer sale. The standard bonus rate is 35% though using my referral link entitles you to a 50% MAS bonus, 15% above what you'd receive otherwise, plus early access to contribute.\n\n## Roadmap\n\n https://static.wixstatic.com/media/03bd03_43ea9c45013942b086f182db43e2e7f2~mv2.png/v1/fill/w_555,h_992,al_c/03bd03_43ea9c45013942b086f182db43e2e7f2~mv2.png\n*Midas protcol roadmap <28>*\n\nAbove is Midas Protocol's high level roadmap. Although there's no working product at this time, if the team can adhere to their roadmap timelines, it's not far off. Alpha launch is expected in Q3 2018 while the Beta and mainnet should roll out in Q4 2018/Q1 2019.\n\nIn terms of marketing, Midas plans to leverage their integration with Kyber Network to acquire an initial user base and will introduce in-app rewards to encourage users to sign up for the platform. These rewards will be in the form of non-transferable MAS and can be earned both by referring new users and by new users activating accounts. The team also will coordinate further marketing activities around key launch dates.\n\nEvery ICO investor always wants to know about exchange listings. There's no guarantees in the ICO market and teams are generally under strict NDA policies, however the CEO is confident about future exchange listings: <29>\n\n*Midas is backed by Regulus Investment and Capital Holdings (RICH), a private fund and ICO consultancy service provider. RICH is a founding member of GITA (Global ICO Transparency Alliance) where they work hand in hand with many exchange to help clean up the ICO scene. That relationship will help [reduce] the cost of being listed on exchanges.*\n\nThis comment from the CEO certainly gives me confidence about the likelihood of exchange listings after the ICO and those associations should open up future exchange integrations within Midas Protocol as well.\n\n## The team\n\nThe Midas Protocol team is largely based in Vietnam and Singapore and boasts extensive blockchain experience, with many of the core team members having played a leading role in existing cryptocurrency projects including TomoChain, Kyber Network, ZCoin and NEM.\n\nDr. David Nguyen Vu, chairman and CFO, has been the chairman of Regulus Investment and Capital Holdings for 5 years, is the president of the blockchain intelligence group TokenViet.io, is the president of the Vietnam Chamber of Commerce in Singapore and has acted as an advisor for several ICO's including bigbom, suchapp and kambria.\n\nMinh Chu, CEO, was the cloud chief architect at VCCORP for 9 years before leaving to co-found TomoChain, a successful blockchain project that recently completed their ICO. When asked why he decided to pursue the Midas Protocol project, his response was as follows: <30>\n\n*Midas protocol is my brain-child project that I cherish for a long time. I want to create a top-of-its-class platform for traders/investors, which in turn would help [bring] the decentralization ideals closer to reality and more mainstream. Users will keep their cryptos in their wallet, not in CEX's. To do that, they must have a much better system that allows them to trade/exchange/manage cryptos in a much [more] efficient and hassle-free way.*\n\nNgoc Nguyen, CTO, has extensive experience as a programmer and is a core developer for Zcoin. He also led the development of the 2nd most popular web browser in Vietnam, Cốc Cốc.\n\nThe remaining core team members, Phillip Phung (CMO) and Long Phan (COO) bring a wealth of professional experience to the table.\n\nLastly, the advisors on this project are great and bring experience from working cryptocurrency initiatives. Victor Tran is the lead engineer and co-founder of Kyber Network and Long Vuong is the CEO and project lead for TomoChain and former project lead for NEM. Thuc Vu is an AI and algorithms expert currently leading Kambria, a decentralized AI and robotics platform. Giang Trinh and Nguyen Pham both hold executive positions in investment firms.\n\nI really like the proven blockchain experience this team has, with most core members having played a major role in one or more established projects. This gives me confidence that the team will be able to pull this project off as well.\n\n## What I like about Midas Protocol\n\n* All in one cryptocurrency platform that promises to deliver far more within one experience than any competitor;\n* Platform design is intuitive and should appeal to new investors while advanced trading features will appeal to experienced traders;\n* Automated technical analysis inputs;\n* Access to multiple exchanges should provide liquidity and access to the best prices;\n* Social trading will appeal to experienced traders as a revenue source and will appeal to new investors who want to copy proven performers;\n* Social trading aspect is verified based on blockchain data;\n* Clear use case and demonstrable value of the MAS token within the platform;\n* Additional token value dervied from funding initiatives via the Midas Foundation;\n* Relationships with exchanges and the ICO space thanks to backing by RICH;\n* The team have strong backgrounds and have played pivotal roles in other projects;\n* Automatic portfolio rebalancing and advanced order types;\n* Some proceeds given to charity initiatitives;\n* Team tokens are vested long-term;\n* Strong early adopter package;\n* Initial marketing plans in place; and\n* Initial launch is not far off if roadmap is adhered to.\n\n## Concerns about Midas Protocol\n\n* As with similiar multi-exchange concepts, I have my hesitations about network lag and multiple systems communicating until I'm proven otherwise;\n* Unclear how the team will handle the KYC/AML elements required by CEX's and whether this process can happen via the platform itself or whether it will have to happen externally on the exchanges;\n* No working product, though it's rare finding an ICO with one these days;\n* Indicator-based technical analysis should be straightforward to implement but I'm uncertain how effective pattern identification will prove to be;\n* Lack of staking is a disappointment though I certainly can't hold it against the team;\n* Limited following and hype at this stage, but the pioneer sale has not even started yet and their following is growing quickly; and\n* Main plan for initial adoption places a lot of hope on the Kyber Network community.\n\n## Competitors\n\nThere are a lot of competitors that offer features similiar to Midas Protocol. However, very few, if any, offer a complete package as comprehensive as Midas.\n\nBlockport is another platform which offers both social trading and cross-exchange trading and has a number of similiarities to Midas. Both are great projects and I have personally invested in each, however there are some key differences. Blockport's initial focus is in Europe while Midas is focusing on ASEAN countries. Midas offers more advanced portfolio features as well as more order types and a grander vision of AI-powered technical analysis. I would also argue that Midas has a stronger token use case. Ultimately, I like both and someday they could work together but if I had to pick one I'm backing Midas due to the differences described above and greater confidence in the team behind the platform.\n\nAbra is a multi-currency wallet and portfolio with the ability to exchange cryptocurrencies and fund via fiat currencies. However, Midas simply outdoes them in terms of features including portfolio rebalancing, advanced order types, multi-exchange integration and automated technical analysis and news. Similiarly, Bread Wallet is a strong multi-currency wallet but does not offer much functionality beyond that.\n\nEthos is another universal wallet with built-in portfolio, rich performance data and coin insights. Ethos also plans to allow users to established a ColdWallet which will be kept offline and is a strong security offering that Midas does not have, in addition to biometric unlocking and verified wallet domains. Overall, Ethos has a strong product offering particularly in regards to security, however it does not have integrated trading, social trading or portfolio rebalancing so it still needs to be complemented by other platforms.\n\nTaylor is an automated trading and trading signals platform which offers advanced trading strategies similiar to Midas. However, it's sole focus is around trading and it does not offer fund storage, portfolio monitoring, social trading or any of the other features available on Midas.\n\nUltimately, Midas Protocol offers a comprehensive platform that brings together a suite of features you'd need several different platforms to cover. It's like Blockport, Abra and Taylor all wrapped up into one user friendly platform, with some additional features to boot.\n\n## Is Midas Protocol a good investment?\n\nMidas Protocol has a hard cap of 20,000 ETH, which at the time of writing, is a little under $15M USD. To start with, let's look at the valuation of some of the above competitors. Blockport, arguably the closest comparable, is a recent ICO which has peaked at a market cap of $42M and currently hovers around $21M. Bread, which is only a wallet, has achieved a market cap as high as $192M though it currently sits around $67M. Both of these are fairly new projects so likely haven't hit their peaks and yet even these numbers show significant upside for Midas with a modest valuation of $15M. Meanwhile Ethos, another smart universal wallet with rich features that has been around for a while raised 40,000 ETH at ICO, double the hard cap of Midas, and is currently valued at $246M and has been as high as $818M and probably provides the best comparable in terms of long term valuation; even at current valuation, that's 16x higher than Midas and at peak we're talking more than 50x.\n\nLook at the team and their experience and ask yourself if you think they're going to make a mark in the decentralized cryptocurrency services space. Or better yet, ask the team what makes them think they can pull off such a comprehensive platform. That's exactly what I did and their response was as follows: <31>\n\n*Our team and advisors are very experienced in building successful mass-consumer product as well as large-scale complex system[s]. We also have close relationship with many exchanges, e-commerce platforms and relevant authorities. With that, we are confident of our ability and capability to solve the puzzles and push things forward.*\n\nI know I'll be investing in Midas Protocol and the team backing it. In terms of expectations, it's always difficult with a unique platform, however Blockport has successfully more than doubled their valuation in a short time and still has a ton of room to grow. That's the least I'd expect from Midas and platform launch late this year/early next year should provide some early price catalysts. In terms of long-term valuation, given the features offered by the platform in addition to the token model and project funding via the Midas Foundation, I'm looking at potential Ethos-level valuations.\n\nBut more importantly, read what I wrote about the platform in this article. Does Midas Protocol sound like a platform you'd want to use and wish existed right now? Then [get involved](https://midasprotocol.io/?a=rkKXte) (referral link) in the Pioneer sale and be one of the first to test it out, as well as picking up some great early adopter perks.\n\n## Conclusion\n\nFirstly, I'd like to thank the Midas Protocol team for making themselves available to answer my many questions and allowing me to quote them in this article.\n\nI believe Midas Protocol is a comprehensive all-in-one cryptocurrency platform which will appeal to new investors and experienced traders alike. The simplicity of the multi-currency, exchange-integrated platform in combination with a central, tailored newsfeed and the ability to copy trading ideas from top traders will go a long way to attracting new investors to the cryptocurrency space. Meanwhile, advanced order types, portfolio rebalancing and the ability to profit from sharing performance data will attract even hardcore cryptocurrency investors. I have plenty of concerns over how all the different services and exchanges are going to interact but the team has already delivered many successful projects, and they believe in themselves as well, which makes me believe in them as well.\n\nI really like Midas Protocol as a long term bet and even though comparables for long term upside are limited, an eventual valuation in the hundreds of millions isn't out of the question. I plan to invest in the Pioneer sale and look forward to being one of the first to test the platform out. Want to join me? The Pioneer sale starts soon and you can get a 50% bonus (as opposed to 35%) and early access to contribute by using the following referral link.\n\nhttps://midasprotocol.io/?a=rkKXte\n\nFull disclosure for all referral links in this article, I do receive a 5% commission on contributions made via these links. If you wish to contribute without using my referral link you can go directly to https://midasprotocol.io\n\nIf you have any comments, post below! If you enjoyed the article and found it informative, please consider leaving a small donation to help support the site:\n\n**ETH & ERC20: 0xEFC6eb094CA849DB9b8628B6cC9c1e601ECf21bc**\n**Bitcoin: 35ag9ZqtH51Bbybmt1PQcmC4W6tDgkB2SZ**\n**Litecoin: MQwoTEseg5dynCsJjrAtoZ4Hm4PSPdGiSt**\n\nIf you are unable to donate, consider supporting Crypto Advocate in other ways, such as sharing the site with your friends or using one of the referral links [here](https://www.cryptoadvocate.net/contribute). You can also follow me on Twitter [@crypto_advocate](https://twitter.com/crypto_advocate).\n\n \n\n## References and Notes\n\nThis post originally appeared at https://www.cryptoadvocate.net/single-post/midas-protocol-crypto-platform and was modified slightly for relevancy and for the steemit audience.\n\n<1> Price, market cap, supply and logo are taken from midasprotocol.io. All social stats taken directly from social media pages\n<2> Based on ETH price at time of writing - target goal is 20,000 ETH\n<3> Quoted from page 2 of the Midas Protocol whitepaper\n<4> Image taken from page 6 of the Midas Protocol whitepaper\n<5> Adapted from page 9 of the Midas Protocol whitepaper\n<6> Adapted from conversation with Minh Chu, CEO of Midas Protocol\n<7> Quoted from conversation with Minh Chu, CEO of Midas Protocol\n<8> Image taken from midasprotocol.io\n<9> Adapted from conversation with Minh Chu, CEO of Midas Protocol\n<10> Adapted from conversation with Minh Chu, CEO of Midas Protocol\n<11> Adapted from conversation with Minh Chu, CEO of Midas Protocol\n<12> Image taken from midasprotocol.io\n<13> Adapted from conversation with Minh Chu, CEO of Midas Protocol\n<14> Information taken from pages 9-11 of the Midas Protocol whitepaper\n<15> Image taken from page 8 of the Midas Protocol whitepaper\n<16> Adapted from conversation with Minh Chu, CEO of Midas Protocol\n<17> Adapted from conversation with Minh Chu, CEO of Midas Protocol\n<18> Adapted from conversation with Minh Chu, CEO of Midas Protocol\n<19> Image taken from midasprotocol.io\n<20> Image taken from midasprotocol.io\n<21> Information taken from pages 20-21 of the Midas Protocol whitepaper\n<22> As per conversation with Phillip Phung, CMO of Midas Protocol\n<23> Adapted from page 19 of the Midas Protocol whitepaper\n<24> As per conversation with Minh Chu, CEO of Midas Protocol\n<25> Image taken from midasprotocol.io\n<26> Information taken from page 20 of the Midas Protocol whitepaper\n<27> Adapted from conversation with Dr. David Nguyen, Chairman and CFO of Midas Protocol\n<28> Image taken from midasprotocol.io\n<29> Quoted from conversation with Minh Chu, CEO of Midas Protocol\n<30> Quoted from conversation with Minh Chu, CEO of Midas Protocol\n<31> Quoted from conversation with Minh Chu, CEO of Midas Protocol\n\nAll other information is either adapted from the whitepaper and other research or is personal opinion.\n\nCrypto Advocate is planning to invest in the Midas Protocol Pioneer Sale.",
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      "title": "NAV Coin Technical Analysis 9/04/18: Poised for short-term breakout, bigger picture",
      "body": "# NAV Coin Technical Analysis (9/04/18): Short term breakout incoming, long term outlook.\n\n\nNAV Coin is currently moving withing a massive long term wedge and squeezing tight within a shorter time frame uptrend and downtrend. When NAV moves, it moves big, and the potential is there both short and long term. The fundementals behind this project are fantastic as well, I suggest you have a read of my review on [Steem](https://steemit.com/cryptocurrency/@crypto.advocate/nav-coin-the-everyday-privacy-coin) or on [my website](https://www.cryptoadvocate.net/single-post/2017/11/06/nav-coin-the-everyday-privacy-coin).\n\n## Short Term Outlook\n\n![NAV: Short Term](https://www.tradingview.com/x/iqjJxNsT/)\n\nFirstly, we can see that price action is moving in a very tight band between the uptrend and downtrend lines in black. 12k sat's is proving to be strong support (marked W-1) and RSI is in a clear uptrend. Volume needs to pick up but NAV will break out of this pattern very soon. \n\nUltimate break out target is the top of the larger wedge (red line) approximately around 29k sats. Keep an eye on the various fib levels on the way up, particularly where there's a convergence of resistance and fib at the W+1 level (~19-20k sats). If it does break to the downside, there's strong support from both the major uptrend line (green) and the W-2 support at 10k sats.\n\nAlso keep in mind there's a lot of uncertainty around BTC right now and major shifts in BTCUSD will likely impact alts, including NAV.\n\n## Long Term Outlook\n\n![NAV:Big Picture](https://www.tradingview.com/x/VjR7z4BJ/)\n\nAs mentioned, NAV is bouncing in between a massive wedge indicated by the green and red trendlines. RSI has broken out of the long term downtrend and I'm expecting price action to follow suit shortly with a upward move within the wedge.\n\nI expect NAV to channel within this wedge for the next several months but when it breaks out it should be huge, with a lower end fib target of 60k sats and an upper end fib target of 100k sats. Note that these are long term targets. If the wedge ultimately breaks down, NAV should find support at W-1, W-2 or W-3 before rebounding.\n\n## Summary\n\nI believe there is a great opportunity both short and long term for a coin with great fundamentals. Note that this is not financial advice and is only my own thoughts on the price action of NAV. I do not recommend making any moves based solely on my outlook, especially not without understanding the fundamentals behind the coin.\n\nIf you do decide to purchase some NAV, please consider making use of my [Binance referral link](https://www.binance.com/m-register.html?ref=10875979)\n\nIf you found this insightful or helpful, please upvote. You can also follow me here, on Twitter [@crypto_advocate](https://twitter.com/crypto_advocate) or keep up to date on my site https://cryptoadvocate.net\n\n### Tip Jar\n\n**NAV**: Ni6xz2BSifCsAAKuLsL7BFWs6WY1cfBZe7\n**ETH**: 0xEFC6eb094CA849DB9b8628B6cC9c1e601ECf21bc",
      "json_metadata": "{\"tags\":[\"cryptocurrency\",\"crypto\",\"navcoin\",\"breakout\",\"altcoin\"],\"image\":[\"https://www.tradingview.com/x/iqjJxNsT/\",\"https://www.tradingview.com/x/VjR7z4BJ/\"],\"links\":[\"https://steemit.com/cryptocurrency/@crypto.advocate/nav-coin-the-everyday-privacy-coin\",\"https://www.cryptoadvocate.net/single-post/2017/11/06/nav-coin-the-everyday-privacy-coin\",\"https://www.binance.com/m-register.html?ref=10875979\",\"https://twitter.com/crypto_advocate\",\"https://cryptoadvocate.net\"],\"app\":\"steemit/0.1\",\"format\":\"markdown\"}"
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    {
      "parent_author": "crypto.advocate",
      "parent_permlink": "nav-coin-the-everyday-privacy-coin",
      "author": "luisramalho",
      "permlink": "re-cryptoadvocate-nav-coin-the-everyday-privacy-coin-20180315t103951416z",
      "title": "",
      "body": "Great stuff about NAV, curious to know what are your thoughts on Wanchain and Bitcoin Private?",
      "json_metadata": "{\"tags\":[\"cryptocurrency\"],\"app\":\"steemit/0.1\"}"
    }
  ]
}

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  "timestamp": "2018-03-10T04:34:18",
  "op": [
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    {
      "delegator": "steem",
      "delegatee": "crypto.advocate",
      "vesting_shares": "29533.799782 VESTS"
    }
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  "op": [
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    {
      "parent_author": "crypto.advocate",
      "parent_permlink": "particl-the-privacy-centric-marketplace-altcoin-review",
      "author": "d0ublei",
      "permlink": "re-cryptoadvocate-particl-the-privacy-centric-marketplace-altcoin-review-20180307t182709975z",
      "title": "",
      "body": "Fantastic review! I am going to see Paul speak about the platform. Their website and whitepaper isn't very clear, however this post was very helpful. I will share it with some of the others attending. Thanks for this!!",
      "json_metadata": "{\"tags\":[\"cryptocurrency\"],\"app\":\"steemit/0.1\"}"
    }
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{
  "trx_id": "b041b53ff79073444fdd40fab23149054bcaf5b8",
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  "trx_in_block": 14,
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  "timestamp": "2018-02-23T03:39:57",
  "op": [
    "comment",
    {
      "parent_author": "cavey65",
      "parent_permlink": "re-cryptoadvocate-blockport-bpt-ico-review-a-new-era-cryptocurrency-exchange-20180218t120223525z",
      "author": "crypto.advocate",
      "permlink": "re-cavey65-re-cryptoadvocate-blockport-bpt-ico-review-a-new-era-cryptocurrency-exchange-20180223t033955771z",
      "title": "",
      "body": "As far as I'm aware they haven't hinted at any possibilities yet.",
      "json_metadata": "{\"tags\":[\"blockport\"],\"app\":\"steemit/0.1\"}"
    }
  ]
}

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  "timestamp": "2018-02-23T03:38:03",
  "op": [
    "comment",
    {
      "parent_author": "cryptopassion",
      "parent_permlink": "btc-let-see-if-the-correction-pauses",
      "author": "crypto.advocate",
      "permlink": "re-cryptopassion-btc-let-see-if-the-correction-pauses-20180223t033802570z",
      "title": "",
      "body": "Dropping to 9k (or possibly below) is far more likely than retesting that resistance now.",
      "json_metadata": "{\"tags\":[\"bitcoin\"],\"app\":\"steemit/0.1\"}"
    }
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}

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  "op": [
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    {
      "parent_author": "philakonecrypto",
      "parent_permlink": "bitcoin-btc-feb-22-technical-analysis-afternoon-update-support-zones",
      "author": "crypto.advocate",
      "permlink": "re-philakonecrypto-bitcoin-btc-feb-22-technical-analysis-afternoon-update-support-zones-20180222t224346374z",
      "title": "",
      "body": "Continually great commentary on BTC price action. Thanks!",
      "json_metadata": "{\"tags\":[\"bitcoin\"],\"app\":\"steemit/0.1\"}"
    }
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  "timestamp": "2018-02-21T03:16:42",
  "op": [
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    {
      "voter": "crypto.advocate",
      "author": "esmeraldatormez",
      "permlink": "re-cryptoadvocate-dragonchain-drgn-review-the-business-ready-blockchain-platform-20180217t084346739z",
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      "parent_author": "esmeraldatormez",
      "parent_permlink": "re-cryptoadvocate-dragonchain-drgn-review-the-business-ready-blockchain-platform-20180217t084346739z",
      "author": "crypto.advocate",
      "permlink": "re-esmeraldatormez-re-cryptoadvocate-dragonchain-drgn-review-the-business-ready-blockchain-platform-20180221t031635525z",
      "title": "",
      "body": "Thank you for the kind words",
      "json_metadata": "{\"tags\":[\"cryptocurrency\"],\"app\":\"steemit/0.1\"}"
    }
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}

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    {
      "parent_author": "crypto.advocate",
      "parent_permlink": "blockport-bpt-ico-review-a-new-era-cryptocurrency-exchange",
      "author": "cavey65",
      "permlink": "re-cryptoadvocate-blockport-bpt-ico-review-a-new-era-cryptocurrency-exchange-20180218t120223525z",
      "title": "",
      "body": "Blockport 1.0 will be the initial public exchange and will be launched in beta in February with a full release in Q2 2018. This release will connect with one external exchange and will support BTC, ETH and some ERC20 tokens.\nAny idea which exchange that will be?\nWould be great if it will be Coss",
      "json_metadata": "{\"tags\":[\"blockport\"],\"app\":\"steemit/0.1\"}"
    }
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  "op": [
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      "voter": "clemdane",
      "author": "crypto.advocate",
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    {
      "parent_author": "crypto.advocate",
      "parent_permlink": "dragonchain-drgn-review-the-business-ready-blockchain-platform",
      "author": "esmeraldatormez",
      "permlink": "re-cryptoadvocate-dragonchain-drgn-review-the-business-ready-blockchain-platform-20180217t084346739z",
      "title": "",
      "body": "Discovered your fantastic review too late, otherwise upvoted (<7 days).\nContinue with your work!!! \nThese are the best ever reviews I’ve read about crypto!!!",
      "json_metadata": "{\"tags\":[\"cryptocurrency\"],\"app\":\"steemit/0.1\"}"
    }
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  "timestamp": "2018-02-17T08:33:42",
  "op": [
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    {
      "parent_author": "crypto.advocate",
      "parent_permlink": "a-new-digital-advertising-model-a-review-of-bat-behavioral-attention-token",
      "author": "esmeraldatormez",
      "permlink": "re-cryptoadvocate-a-new-digital-advertising-model-a-review-of-bat-behavioral-attention-token-20180217t083341457z",
      "title": "",
      "body": "Very well.",
      "json_metadata": "{\"tags\":[\"cryptocurrency\"],\"app\":\"steemit/0.1\"}"
    }
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}

{
  "trx_id": "1d3acd2607ef5945413094e1ff7c58330dd8c52c",
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      "voter": "esmeraldatormez",
      "author": "crypto.advocate",
      "permlink": "a-new-digital-advertising-model-a-review-of-bat-behavioral-attention-token",
      "weight": 0
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      "voter": "esmeraldatormez",
      "author": "crypto.advocate",
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  "op": [
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    {
      "parent_author": "crypto.advocate",
      "parent_permlink": "particl-the-privacy-centric-marketplace-altcoin-review",
      "author": "esmeraldatormez",
      "permlink": "re-cryptoadvocate-particl-the-privacy-centric-marketplace-altcoin-review-20180217t082933172z",
      "title": "",
      "body": "Amazing review. Thank you.",
      "json_metadata": "{\"tags\":[\"cryptocurrency\"],\"app\":\"steemit/0.1\"}"
    }
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      "voter": "sensation",
      "author": "crypto.advocate",
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  "op": [
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      "author": "crypto.advocate",
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  "timestamp": "2018-02-05T06:33:54",
  "op": [
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    {
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      "author": "crypto.advocate",
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  "timestamp": "2018-02-05T06:23:54",
  "op": [
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    {
      "voter": "diegomzb",
      "author": "crypto.advocate",
      "permlink": "dragonchain-drgn-review-the-business-ready-blockchain-platform",
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{
  "trx_id": "19cdb47e2450ae8326b4fdf092c1d5b71a72f0f6",
  "block": 19596223,
  "trx_in_block": 14,
  "op_in_trx": 0,
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  "timestamp": "2018-02-05T06:23:36",
  "op": [
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    {
      "parent_author": "",
      "parent_permlink": "cryptocurrency",
      "author": "crypto.advocate",
      "permlink": "dragonchain-drgn-review-the-business-ready-blockchain-platform",
      "title": "Dragonchain (DRGN) Review: The Business Ready Blockchain Platform",
      "body": "# What is Dragonchain?\n\n![](https://steemitimages.com/DQmXASoqjZpiqxK7n7nWfTjFMv5T9eteHqaybh9pdnFG8wG/image.png)\n\nDragonchain was originally developed back in 2015, though at that time it was known as the Disney Private Blockchain Platform. In October 2016, it was released as open source software in October and in January 2017 the Dragonchain foundation was established to maintain the open source code. More recently the team decided to launch a commercial entity and raised over $13M during their ICO in October 2017.\n\n Dragonchain markets itself as \"the most secure, flexible, and business ready blockchain platform and ecosystem\" *<2>* which consists of a crowd scaled incubator and smart contract marketplace.\n\n![](https://steemitimages.com/DQmcncx2Pck4aCprfbKWVF2rUJzd5LsHBwsWB5RpYJQnzN8/image.png)\n*Dragonchain model <3>*\n\n## Dragonchain Highlights *<1>*\n\nStarted in 2015, ICO was October 2, 2017\nMarket cap: $549,121,491\nPrice per token: $2.30\nReddit subscribers: 3,672\nTwitter followers: 52,300\nFacebook likes: 3,281\nCirculating supply: 238,421,940\nTotal supply: 433,494,437\nConsensus method: ERC-20, Context-based\nWhere to buy: [Kucoin](https://www.kucoin.com/#/?r=E4abuO)\n[Website](https://dragonchain.com/)\n[Whitepaper](https://dragonchain.com/assets/Dragonchain_Business_Summary.pdf)\n\n## The Dragonchain Blockchain Platform\n\nMost blockchain applications are complex, lack scalability and may require the use of specific coding languages such as solidity. Dragonchain, on the other hand, is a hybrid commercial platform which doesn't fully embrace the decentralized nature of most blockchain platforms. In most cases this is a negative in my books, but in terms of targeting enterprise solutions that deal with sensitive data and are skeptical about blockchain technology, it actually works in Dragonchain's favour. This hybrid platform allows companies to integrate blockchain technology into their business quickly and easily through a number of features including: *<4>*\n\n* Serverless system which enables scalability via Amazon AWS, with planned support for Google App Engine and Apache OpenWhisk;\n* Smart contract functionality and libraries that can be developed in all Amazon AWS-supported languages including Java, Python, Node, C# and Go;\n* 5 levels of network consensus to provide security and protect business data; and\n* Currency agnosticism.\n\nThe serverless system and development languages is one of the biggest advantages Dragonchain has over other platforms as it solves one of blockchain's biggest issues; scaling. Furthermore, because of this businesses can leverage existing skills and technologies in order to build and maintain their applications, saving development costs and allowing them to deploy quickly and efficiently. Another area Dragonchain's hybrid platform offers an advantage is in terms of data security. This is one of the major hurdles preventing business from adopting blockchain technology, particularly for industries such as banking and health due to the public nature of blockchains and smart contracts. Dragonchain addresses these problems through context based verification, increasing security by enabling business nodes to to approve transactions based on local business logic through 5 levels of consensus: *<5>*\n\n ![](https://steemitimages.com/DQmYdaJw5ecekke2gxDqsYjQ8avddWtPtLTS39AjZPWvMz3/image.png)\n*Dragonchain levels of consensus <6>*\n\n1. Business verification (approval): at the first level, business verification controls the approval of transactions based on localized business rules (trust basis). Since the data makes use of localized business rules, it is considered trusted by the owner and can integrate existing system capabilities, reducing the learning curve of blockchain applications.\n2. Enterprise verification (validation): this level performs real-time governance, which is defined at enterprise level, in order to check the validity of blocks and transactions regardless of local business data.\n3. Network diversity verification: this level provides control and measurement, as well as distributed security from attacks, by ensuring validations from level 2 are coming from a diverse set of sources.\n4. External partner (notary): level 4 nodes are hosted by a trusted external partner which acts as a notary to cryptographically sign any level 3 verifications.\n5. Public bridge: the final level bridges the enterprise blockchain with one or more public blockchains such as Bitcoin.\n\nThrough this process of context based verification, business can interact with public blockchains through their own blockchain application, while integrating local business logic and keeping sensitive data away from the public chain.\n\n## DragonFund Incubator\n\nThe DragonFund Incubator is the pillar of the project which will work with companies to demonstrate how blockchain technology and smart contracts would be beneficial and help those companies develop token ecosystems. In the current crypto environment, this positions Dragonchain to compete with other ICO platforms. However, unlike other ICO platforms, the DragonFund uses a model more like YCombinator where they actively work with the teams over an extended period of time, guiding them through the process. Organizations are able to access a number of benefits via the DragonFund Incubator including: *<7>*\n\n* Standard processes for the incubation of blockchain startups and integrations;\n* A marketplace dashboard for community engagement and to monitor and compare projects;\n* Direct access to legal, technical, marketing and economic subject matter experts;\n* The Dragonchain team will help model digital economics within the token model including business design, user acquisition and retention, lifetime value, create of network effects, monetization models, data strategy and KPI's; and\n* Expedited launch cycles.\n\nFor companies looking to build out and adopt blockchain technologies but lack the know-how and resources, this will certainly be an attractive offering. Although the details haven't been formalized, the Dragonchain team will receive licensing fees and token ownership in return for incubation; this approach will not only bring revenue to Dragonchain, but token ownership is a strong incentive to work on promising projects.\n\nThere are already several projects under incubation including: *<8>*\n\n* Look Lateral, a blockchain-based provenance and marketplace for arts;\n* LifeID, an open identity platform which allows users to manage their digital identity; and\n* Seed2You, a smart contract application for the cannabis sector.\n\n## Marketplace\n\nThe Dragonchain marketplace is where users and businesses can access and purchase pre-built smart contracts and connect with qualified vendors. This is one pillar of Dragonchain that is still in it's infancy so details are limited though I'd expect the smart contract library should be appealing to new ventures as it would save both development work and planning.\n\n## Dragonchain Tokens\n\nDragonchain tokens (Dragons or DRGN) are required to interact with the Dragonchain platform, incubator and marketplace and as such are integral to the Dragonchain ecosystem. There are three main use cases that create value for DRGN:\n\n1. Interacting with the Dragonchain platform to launch nodes, create smart contracts and more;\n2. Dragons are given to developers who contribute to maintaining and improving functionality of the Dragonchain foundation's open source code; and\n3. Dragon holders will be granted presale access to DragonFund incubator projects.\n\nDragon holders are further incentivized to hold DRGN through an initiative called the Dragon Slumber Score. The higher your slumber score, the greater your discount, the earlier you get access and the higher allocation you receive. The Dragonchain team have produced the following infographic which details how the slumber score is calculated and the role it plays:\n\n![](https://steemitimages.com/DQmPH9TAGqFvHAsAUPKXQzWKzPfk4acgLbkZbqUz43KQsFD/image.png)\n*Dragon Slumber Score <9>*\n\n## Roadmap\n\nhttps://static.wixstatic.com/media/03bd03_3e690c4ab40c49599618e9aa0b8f2291~mv2.jpg/v1/fill/w_850,h_1200,al_c,q_85/03bd03_3e690c4ab40c49599618e9aa0b8f2291~mv2.jpg\n*Dragonchain roadmap <10>*\n\n2018 should be a big year for Dragonchain, with a number of milestones on the roadmap. March will mark the launch of the AWS serverless platform which will enable the Dragonchain platform to scale and will be followed up by Google Cloud in August and Azure in October. In June the commercialized dashboard and marketplace will launch and  will be followed by the full roll out of the incubator program in September.\n\n## The team\n\nMost of the core team started on the project back at Disney and bring a wealth of experience to the table. Joe Roets, the CEO, was the senior software architect and principal blockchain architect at Disney and has blockchain experience going back to 2014 in addition to over 25 years experience in software development design and architecture. Eileen Quenin, VP of strategic partnerships and president of the Dragonchain Foundation, was a core team member of the initial project at Disney and has extensive UX experience across major companies such as Amazon Payments, Disney and GE. Paul Sonier, CTO, was also involved in the early days and has nearly 20 years experience in software engineering while George Sarhanis, CBO, has nearly 20 years experience in business management, strategy, finance and partnerships.\n\nThe advisory team definitely isn't to be overlooked and includes Maria Smith, the VP of partnerships and payments for Starbucks and former VP of finance for Disney, as well as Ed Fries, the former VP of Microsoft, co-founder of Xbox and board member for several gaming, VR and technology startups.\n\n## What I like about Dragonchain\n\n* Platform projects have been amongst the most successful applications of blockchain technology (Ethereum, NEO, etc.);\n* The platform has been developed and iterated upon over several years;\n* The hybrid structure which integrates local business rules is more likely to be trusted by organizations and can be quickly and affordably implemented;\n* The 5 step context based verification should address data privacy concerns for many companies;\n* Support for all Amazon AWS languages removes a significant barrier of adoption and enables organizations to make use of existing skills;\n* Serverless platforms will address scalability issues other blockchain projects have;\n* The incubator program is an attractive option for organizations looking to get started with blockchain technology and offers a positive spin on the ICO space;\n* There is a clear use case of the DRGN token and incentive to hold via slumber score;\n* There are a number of existing incubator projects which shows some early adoption;\n* The team is U.S.-based which should help with adoption in a major market;\n* A strong team with extensive experience and familiarity working with one another;\n* All-star advisors; and\n* Currency agnosticism and ability to interact with other public blockchains.\n\n## Concerns about Dragonchain\n\n* Platform projects are a competitive space with existing market leaders like NEO and Ethereum and a growing number of enterprise-focused platforms like ARK and Neblio;\n* Large organizations have begun developing their own private blockchain platforms which may threaten Dragonchain;\n* Although they have a few existing incubator projects, I've yet to see any solid evidence of any major partnerships or commercial entities that are considering making use of the Dragonchain platform;\n* Vision for the marketplace seems lacking at this point in time and seems to be a bit of an afterthought when compared to the other two pillars of Dragonchain;\n* The economic model has not really been defined as they are focusing on the platform, however the amount of revenue generated through commercial platforms and incubator projects will likely influence the price of DRGN; and\n* Given the total supply at the peak price, the valuation of Dragonchain was well over $2.5B which is a high figure for something with minimal adoption.\n\n## Competitors\n\nAs mentioned above, there are several competitors in the platform and enterprise platform space, some of which I'm a big fan of. However, Dragonchain's hybrid structure differentiates it from these other platforms and offers significant advantages in terms of speed to market, cost and support.\n\nThe biggest competition for Dragonchain, in my opinion, doesn't actually come from existing blockchain platforms. Many large corporations including tech firms, banks and more have already started actively developing their own private blockchain platforms. My first concern is that this potentially eliminates a huge market for Dragonchain and my other concern is that once these private blockchains are developed, they could then be offered to other organizations, like selling software. If that's the case though, there's likely still a niche for Dragonchain with mid-sized organizations who are interested in developing their own blockchain platform but don't have the resources and skills. The incubator program as well should remain a fairly unique offering that could become the primary pillar if Dragonchain struggled in the commercial platform space.\n\n## Is Dragonchain a good investment?\n\nDragonchain currently sits 49th on coinmarketcap.com, just ahead of a competitor in ARK, at $549M with a price per token of $2.30. Both of these marks are a fair drop from early January when Dragonchain reached a market cap of $1.2B at over $5 per token, though the whole market has taken a slide since then.\n\nThere's definitely upside with Dragonchain; after all it was recently valued more than double what it currently sits at. Beyond that, there's no shortage of platform projects like Stratis, QTUM and NEO that are currently 2x-20x higher than Dragonchain's current market cap. Dragonchain also currently has a number of advantages over these other platforms including speed to market, scalability, integration of business rules and the incubator program. While I don't expect DRGN to crack the top 10 anytime soon, if ever, I do like it's potential in the midterm and would expect it to make some solid gains throughout 2018.\n\nShort term, I think Dragonchain is a good buy as the price appears to be floored and when the market turns around, DRGN could see a quick return to previous highs. Long term I have concerns about Dragonchain, mainly due to the reasons outlined in the competitors section. Don't get me wrong, I really like the project and think that even if the platform aspect failed there would be a niche for the incubator program, but solely as an investment I don't think it will perform as well as some other blockchain projects.\n\nIn summary, I like Dragonchain in the short and medium term but it likely won't be a long term (2-3 years) hold for me.\n\n## Conclusion\n\nDragonchain is an enterprise blockchain platform and ecosystem that makes use of a serverless platform and AWS-supported languages to get businesses up and running with scalable and secure blockchain technology. The ecosystem also consists of a YCombinator-style incubator and smart contract/vendor marketplace, all of which integrate the Dragon token.\n\nThe Dragonchain platform overcomes many issues facing current blockchain technology including security, scalability, technical ability, and speed to market while the incubator provides a new, more comprehensive twist on current ICO's. The team and advisors are strong and have extensive experience, the project has been in the works for years and there's a clear value proposition for the services offered and the Dragon token, all of which make me a fan of the project. I think it's a great investment in the short-to-mid term, especially with more incubator projects in the works.\n\nConsidering getting some DRGN for yourself? Make use of my [Kucoin](https://www.kucoin.com/#/?r=E4abuO) referral link! If you have any comments, post below! If you enjoyed the article and found it informative, please consider leaving me some DRGN or any other small donation to help support the site:\n\n**DRGN, ETH & ERC20: 0xEFC6eb094CA849DB9b8628B6cC9c1e601ECf21bc**\n**Bitcoin: 35ag9ZqtH51Bbybmt1PQcmC4W6tDgkB2SZ**\n**Litecoin: LWBN5P3vj8F6zrCB2pbFS8ynU5194hbA7W**\n\n\nIf you are unable to donate, consider supporting Crypto Advocate in other ways, such as sharing the site with your friends or using one of the referral links [here](https://www.cryptoadvocate.net/contribute). You can also follow me here or [@crypto_advocate](https://twitter.com/crypto_advocate).\n\n## References and Notes\n\nThis post originally appeared at https://www.cryptoadvocate.net/single-post/dragonchain-the-business-ready-blockchain-platform and was modified slightly for relevancy and for the steemit audience.\n\n<1> Price, market cap, supply and logo are taken from coinmarketcap.com. All social stats taken directly from social media pages\n<2> Quoted from https://dragonchain.com/\n<3> Image taken from page 11 of the Dragonchain whitepaper\n<4> Adapted from page 2 of the Dragonchain whitepaper\n<5> Details adapted from pages 6-7 of the Dragonchain whitepaper\n<6> Image taken from page 6 of the Dragonchain whitepaper\n<7> Taken from page 2 of the Dragonchain whitepaper\n<8> Projects taken from pages 12-13 of the Dragonchain whitepaper\n<9> Image taken from https://dragonchain.zendesk.com/hc/en-us/articles/115003711091-What-is-a-Dragon-Slumber-Score-INFOGRAPHIC\n<10> Image taken from https://dragonchain.com/roadmap\n\nAll other information is either adapted from the whitepaper and other research or is personal opinion.\n\nCrypto Advocate has holdings in Dragonchain.",
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      "body": "Thanks! Did you go through with it?",
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