Background checks and due diligence for ICOs

* Smart contract must be deployed before ICO start ** As of 22/04/18 Working product must be on mainnet before ICO start *** +2 years vesting with a 6 month cliff
* Smart contract must be deployed before ICO start
** As of 22/04/18 Working product must be on mainnet before ICO start
*** +2 years vesting with a 6 month cliff
Company name

Real team
GitHub
Smart Contract*
Product**
Vesting***
Have a company
Transparent
Location
Comments
  • The founders never replied to investors' questions, showing total disregard to their concerns.
  • Disturbing screenshot of Co-founder Xun Cai.
Full review
Date
Company name

Real team
GitHub
Smart Contract*
Product**
Vesting***
Have a company
Transparent
Location
Comments
  • Cannot verify that all team members work for QuarkChain.
  • Code in Private repo. The Quarkchain team said that they will be open sourcing their code in Q2 2018.
  • Team and advisors tokens vest over 2 years. To check in the deployed smart contract.
  • Use of proceeds not available.
  • Private sale hard cap $16M. Public sale hard cap $4M. Total supply 10B QKC.
  • The Quarkchain team never provided the company registration number, list of directors, details of registered office address and use of proceeds.
  • The Quarkchain team never replied to investors' questions, showing total disregard to their concerns.
Full review
Date
Company name

Real team
GitHub
Smart Contract*
Product**
Vesting***
Have a company
Transparent
Location
Comments
  • Bankorus confirmed that Stephen Kade is their CTO. Update 10 May 2018 - Stephen Kade has confirmed that he is not the CTO of Bankorus.
  • Trust Token asks for personal data when potential investors fill out the pre-sale application but does not have a privacy policy.
  • Potential investors must complete the pre-sale application and accreditation process to have access to the white paper.
  • Private and public pre-sales done with SAFTs through the Sec. 506(c) exemption of Reg D, every single purchaser needs to go through the KYC/AML + Accreditation check on CoinList.
  • Team tokens vest over 4 years. Check if codified.
Full review
Date
Company name

Real team
GitHub
Smart Contract*
Product**
Vesting***
Have a company
Transparent
Location
Comments
  • Token economy and terms not yet published.
  • Stephen Kade (Co-founder of TrustToken) has confirmed that he is not the CTO of Bankorus and is focused full-time on building TrustToken.
  • Cannot verify that all team members work for Bankorus.
  • Public repo will be available after the conclusion of the token sale.
  • Team tokens vest over 4 years. To check in the deployed smart contract.
Full review
Date
Company name

Real team
GitHub
Smart Contract*
Product**
Vesting***
Have a company
Transparent
Location
Comments Full review
Date
Company name

Real team
GitHub
Smart Contract*
Product**
Vesting***
Have a company
Transparent
Location
Comments
  • TBD
  • Token economy and terms not yet published.
  • New Blockchain written in Rust with PoS for consensus.
  • Public beta in September 2018. Mainnet Q4 2018.
Full review
Date
Company name

Real team
GitHub
Smart Contract*
Product**
Vesting***
Have a company
Transparent
Location
Comments
  • Github has one repo for the token sale smart contract. Project Source code not yet released to the public.
  • Smart contract not yet deployed.
  • Q3 Mandala platform beta release. Q4 Mandala platform full release.
  • Team tokens vest over 1 year. 50% released after 6 months of crowdsale. Advisors tokens vest over 3 months. 50% released after the crowdsale.
  • Mandala is considering changing the vesting schedule for team tokens to 2 years. 25% released every 6 month. They are also exploring on extending the vesting schedule for advisors tokens. Pending check for Codified vesting in the smart contract.
  • US investors cannot participate in the tokensale. Mandala filed a Reg-S for their token sale and are filing a Reg A+ for the exchange.
  • Private sale and Pre-sale ongoing.
Full review
Date 21 Apr 2018 - 31 Jul 2018
Company name

Real team
GitHub
Smart Contract*
Product**
Vesting***
Have a company
Transparent
Location
Comments
  • TBD.
  • Token economy and terms not yet published.
  • Github is private.
  • Carbon-12 Labs, Inc. has so far raised $1.42 M out of $2.03 M in a seed round. 24 investors participated. The amount is being raised through equity.
Full review
Date
Company name

Real team
GitHub
Smart Contract*
Product**
Vesting***
Have a company
Transparent
Location
Comments Full review
Date
Company name

Real team
GitHub
Smart Contract*
Product**
Vesting***
Have a company
Transparent
Location
Comments Full review
Date
Company name

Real team
GitHub
Smart Contract*
Product**
Vesting***
Have a company
Transparent
Location
Comments
  • TBD
  • AKASHA International GmbH and AKASHA Stiftung (Foundation) registered in Switzerland.
  • Beta available.
Full review
Date
Company name

Real team
GitHub
Smart Contract*
Product**
Vesting***
Have a company
Transparent
Location
Comments
  • Crowdsale cancelled.
  • DFINITY will be airdropping up to 25M Swiss Francs worth of DFN to community members. KYC and AML will be required. US individuals will not be able to participate
  • DFINITY will be raising approximately 90M Swiss Francs in a private presale.
  • Public testnet will be released in the coming month.
  • Token will be generated and distributed after mainnet (Q4 2018).
Full review
Date
Company name

Real team
GitHub
Smart Contract*
Product**
Vesting***
Have a company
Transparent
Location
Comments Full review
Date
Company name

Real team
GitHub
Smart Contract*
Product**
Vesting***
Have a company
Transparent
Location
Comments
  • Token economy and terms not published yet.
  • Origin will be an ERC20 token.
  • Demo DApp on the Ethereum Rinkeby test network.
  • Public beta delayed to Q2 2018
Full review
Date
Company name

Real team
GitHub
Smart Contract*
Product**
Vesting***
Have a company
Transparent
Location
Comments
  • Token economy and terms not yet published.
  • Crowdsale after mainnet (Product will be functional on the Main network)
  • Smart contract not yet deployed.
  • Team and advisors tokens vest over 2 years. To verify once smart contract is deployed.
Full review
Date
Company name

Real team
GitHub
Smart Contract*
Product**
Vesting***
Have a company
Transparent
Location
Comments Full review
Date
Company name

Real team
GitHub
Smart Contract*
Product**
Vesting***
Have a company
Transparent
Location
Comments
  • Founder & Shareholders tokens vest over 1 year. Not codified.
  • Advisors & Team tokens vest over 1 year. Not codified.
  • TGE in May.
Full review
Date
Company name

Real team
GitHub
Smart Contract*
Product**
Vesting***
Have a company
Transparent
Location
Comments
  • Public beta in june.
  • Team and advisors tokens vest over 2 years but not coded in the smart contract.
  • Smart contract was not audited by an independent cybersecurity company.
Full review
Date 11 May 2018 - 24 May 2018
Company name

Real team
GitHub
Smart Contract*
Product**
Vesting***
Have a company
Transparent
Location
Comments
  • CEO Ihor Torshyn is not connected to MITRIDAT GROUP LP, gets tokens but takes no liabilities.
  • Core Team members are not Partners/Director of MITRIDAT GROUP LP, Brennan Development Inc. and NIS GLOBAL CORP.
  • Danny O'Donoghue director of Brennan Development Inc. and James Dickins Director of NIS GLOBAL CORP. are nowhere to be seen on the website or white paper. No liabilities for Core team members.
  • Team tokens vest over 1 year. No vesting schedule for advisors tokens.
  • Demo on IOS and Android.
Full review
Date 24 Apr 2018 - 18 Jul 2018
Company name

Real team
GitHub
Smart Contract*
Product**
Vesting***
Have a company
Transparent
Location
Comments
  • Testnet not available. Beta Ethereum plug-in N/A.
  • Cannot audit codified vesting in the deployed smart contract. Contract source code not published on etherscan.
Full review
Date
Company name

Real team
GitHub
Smart Contract*
Product**
Vesting***
Have a company
Transparent
Location
Comments
  • Smart Contract not yet deployed.
  • Product demo available.
  • Founders tokens vest over 1 year. To check in smart contract.
  • Presale ongoing, ends 6th June 2018.
Full review
Date 10 Apr 2018 - 06 Jun 2018
Company name

Real team
GitHub
Smart Contract*
Product**
Vesting***
Have a company
Transparent
Location
Comments
  • Crowdsale cancelled and replaced by Airdrop.
  • Team and Advisors get access to half of their tokens once the ICO start. The other half vests over 12 month.
  • Vesting schedule for Team and Advisors won't be coded in the smart contract.
  • Product not connected to blockchain, the tile platform.
  • Presale ongoing
Full review
Date
Company name
Real team
GitHub
Smart Contract*
Product**
Vesting***
Have a company
Transparent
Location
Comments
Date
  • The founders never replied to investors' questions, showing total disregard to their concerns.
  • Disturbing screenshot of Co-founder Xun Cai.
Full review
  • Cannot verify that all team members work for QuarkChain.
  • Code in Private repo. The Quarkchain team said that they will be open sourcing their code in Q2 2018.
  • Team and advisors tokens vest over 2 years. To check in the deployed smart contract.
  • Use of proceeds not available.
  • Private sale hard cap $16M. Public sale hard cap $4M. Total supply 10B QKC.
  • The Quarkchain team never provided the company registration number, list of directors, details of registered office address and use of proceeds.
  • The Quarkchain team never replied to investors' questions, showing total disregard to their concerns.
Full review
  • Bankorus confirmed that Stephen Kade is their CTO. Update 10 May 2018 - Stephen Kade has confirmed that he is not the CTO of Bankorus.
  • Trust Token asks for personal data when potential investors fill out the pre-sale application but does not have a privacy policy.
  • Potential investors must complete the pre-sale application and accreditation process to have access to the white paper.
  • Private and public pre-sales done with SAFTs through the Sec. 506(c) exemption of Reg D, every single purchaser needs to go through the KYC/AML + Accreditation check on CoinList.
  • Team tokens vest over 4 years. Check if codified.
Full review
  • Token economy and terms not yet published.
  • Stephen Kade (Co-founder of TrustToken) has confirmed that he is not the CTO of Bankorus and is focused full-time on building TrustToken.
  • Cannot verify that all team members work for Bankorus.
  • Public repo will be available after the conclusion of the token sale.
  • Team tokens vest over 4 years. To check in the deployed smart contract.
Full review
Full review
  • TBD
  • Token economy and terms not yet published.
  • New Blockchain written in Rust with PoS for consensus.
  • Public beta in September 2018. Mainnet Q4 2018.
Full review
  • Github has one repo for the token sale smart contract. Project Source code not yet released to the public.
  • Smart contract not yet deployed.
  • Q3 Mandala platform beta release. Q4 Mandala platform full release.
  • Team tokens vest over 1 year. 50% released after 6 months of crowdsale. Advisors tokens vest over 3 months. 50% released after the crowdsale.
  • Mandala is considering changing the vesting schedule for team tokens to 2 years. 25% released every 6 month. They are also exploring on extending the vesting schedule for advisors tokens. Pending check for Codified vesting in the smart contract.
  • US investors cannot participate in the tokensale. Mandala filed a Reg-S for their token sale and are filing a Reg A+ for the exchange.
  • Private sale and Pre-sale ongoing.
Full review
21 Apr 2018 - 31 Jul 2018
  • TBD.
  • Token economy and terms not yet published.
  • Github is private.
  • Carbon-12 Labs, Inc. has so far raised $1.42 M out of $2.03 M in a seed round. 24 investors participated. The amount is being raised through equity.
Full review
Full review
  • TBD
  • AKASHA International GmbH and AKASHA Stiftung (Foundation) registered in Switzerland.
  • Beta available.
Full review
  • Crowdsale cancelled.
  • DFINITY will be airdropping up to 25M Swiss Francs worth of DFN to community members. KYC and AML will be required. US individuals will not be able to participate
  • DFINITY will be raising approximately 90M Swiss Francs in a private presale.
  • Public testnet will be released in the coming month.
  • Token will be generated and distributed after mainnet (Q4 2018).
Full review
Full review
  • Token economy and terms not published yet.
  • Origin will be an ERC20 token.
  • Demo DApp on the Ethereum Rinkeby test network.
  • Public beta delayed to Q2 2018
Full review
  • Token economy and terms not yet published.
  • Crowdsale after mainnet (Product will be functional on the Main network)
  • Smart contract not yet deployed.
  • Team and advisors tokens vest over 2 years. To verify once smart contract is deployed.
Full review
Full review
  • Founder & Shareholders tokens vest over 1 year. Not codified.
  • Advisors & Team tokens vest over 1 year. Not codified.
  • TGE in May.
Full review
  • Public beta in june.
  • Team and advisors tokens vest over 2 years but not coded in the smart contract.
  • Smart contract was not audited by an independent cybersecurity company.
Full review
11 May 2018 - 24 May 2018
  • CEO Ihor Torshyn is not connected to MITRIDAT GROUP LP, gets tokens but takes no liabilities.
  • Core Team members are not Partners/Director of MITRIDAT GROUP LP, Brennan Development Inc. and NIS GLOBAL CORP.
  • Danny O'Donoghue director of Brennan Development Inc. and James Dickins Director of NIS GLOBAL CORP. are nowhere to be seen on the website or white paper. No liabilities for Core team members.
  • Team tokens vest over 1 year. No vesting schedule for advisors tokens.
  • Demo on IOS and Android.
Full review
24 Apr 2018 - 18 Jul 2018
  • Testnet not available. Beta Ethereum plug-in N/A.
  • Cannot audit codified vesting in the deployed smart contract. Contract source code not published on etherscan.
Full review
  • Smart Contract not yet deployed.
  • Product demo available.
  • Founders tokens vest over 1 year. To check in smart contract.
  • Presale ongoing, ends 6th June 2018.
Full review
10 Apr 2018 - 06 Jun 2018
  • Crowdsale cancelled and replaced by Airdrop.
  • Team and Advisors get access to half of their tokens once the ICO start. The other half vests over 12 month.
  • Vesting schedule for Team and Advisors won't be coded in the smart contract.
  • Product not connected to blockchain, the tile platform.
  • Presale ongoing
Full review