COINDAILY ICO REVIEW

Coindaily. https://coindaily.io/
Coindaily is a blockchain-service project parented by existing company, which makes evaluation and analysis of other ICO projects and crypto market. Coindaily exists since 2016 and mainly operates on the Chinese market. The project goal is to develop an easy-to-use Primary Market Integrated Service Platform for providing one-stop information diffusion, investment decision consultancy, post-investment tracking services, and other project-specific customized services for investors and project parties.

Coindaily platform consists of 3 main parts, which includes different modules:

I. Investment Decision Making Platform. The goal is to help a potential investor in making decisions about a possible investment in a particular project.

• Project Information Platform. This is a module in which primary projects information will be being aggregated and categorized. In addition to the content, edited by the platform itself, project participants can publish their own information about the project and display it after verification
• External Indicators & Third-party Information. This module will aggregate and timely
  display external indicators such as community activities, Github activities, and other
  information from third-party ratings, to help investors make better investment decisions;
• “Rocket Schedule” (ICO Information Platform). Coindaily will play the role of a third-party platform to assist potential investors and high-quality project parties (after review and rating) to establish a direct channel of investment information exchange, aiming at establishing a OTC (Over The Counter) platform for global primary market project investments;
• Community UGC (user generated content). Users can express opinions through publishing information, making corrections, subscribing certain project messaging services, and like/dislike posts.

II. Post Investment Services. This is the part for potential investors.

• Primary market Project Information Updates: keep track of project information changes and push related updates to investors when available.
• Asset Management: The platform records the trajectories of users’ investments, and users can review their investment records, income, benefits, etc. in the asset management interface.
• PUSH transaction: Before the project is opened, investors can choose to trade tokens of the projects on the Coindaily OTC platform.

III. Project Service. Dedicated to Projects and Third-parties.

• Precise Advertising. Advertisers receive relevant traffics, and recipients can choose whether to accept advertising messages or not
• Project Information Releasing Platform. Project parties or “Rocket Drivers” could independently edit project investments news and information, which will be published after reviewed.
• Customized Service of Projects.

Roadmap
Coindaily will be implemented in the Internet versions - website and mobile app for Android and iOS. Two test versions of the website and one version of the mobile application have already been launched. According to the team, they did not meet expectations in terms of user experience and is being completely redesigned. The launch of V2.0 is planned for October.

Tokenomics
The platform has utility token based on the Ethereum ERC20 protocol - DAILY. The total amount is designed to be 20 billion, with no more to be issued afterwards. At the end of each quarter, the Coindaily platform structurally lock up a certain percentage of DAILY earned through the platform for 50 years so as to organically maintain the value of the DAILY and its virtuous circle.

38% tokens for sale. All tokens except those intended for Community Give Back Round (public sale) and for Community Rewards and Promotion are locked up for at least 1 month from the date of listing (for more information, see Whitepaper). So the Initial Circulation Supply (the quantity of tokens issued before the listing) will be 3.8% plus a portion of the tokens that will be distributed to the community. According to the team, the main part of the community tokens will be for promotion after the launch of the platform. Thus, quite small amount of DAILY will be traded on exchange during the first month. That can cause pump in case of high hype.
Hardcap - 17000 ЕТН. Private sale is ongoing. Public sale is expected in the end of October. KYC is opened on the website. To proceed you need to subscribe Telegram and Twitter. We can’t disclose information of token price and bonuses but can say that comparing to many other projects Coindaily bonuses are acceptable
The token metrics are good, the hardcap is rather small. Actually it’s much smaller than ones of many other projects. This gives Coindaily a good potential for long-term growth. In addition, small amount of tokens, which will be in circulation during the first month after listing, give the same good potential for flip

What are DAILY used for?
There are two types of platform users, according to Daily they own:
Ordinary users - reviews readers, advertisement consumers and UGC (user generated content) generators. Ordinary users will participate in airdrops and get DAILY reward based on the amount of DAILY hold. They will also be able to subscribe to push messages and new analytics for a small fee
Superusers - those who stake a certain amount of DAILY tokens on the platform. In addition to mentioned above they get priority in the review and release of content information, exclusive commercial advertisement placement and priority in Ads bidding, fee discount for “Rocket Schedule” services and other value added services.

There are 6 VC funds invested in Coindaily including FBG, LinkVC and Kenetic. And long list of partnerships with multiple blockchain institutions and media companies

Team
Zhao Zhifei, Founder. LinkedIn
Master degree in cryptography from Xidian University. He specializes in cryptography, mathematics and finance, has a great entrepreneurial experience. He also has great technical experience in blockchain and a good vision in the future development of cryptocurrencies
Xu Da, Co-Founder and Director of Coindaily Platform. LinkedIn
Former Renior software architect at the Shenzhen Stock Exchange. He has 10 years of experience in IT technology development, operations, financial derivatives designing and distribution fields. Red Hat Certified Architect
Nate Zhang. Chief Financial Officer. LinkedIn
Nate has American Institute of Certified Public Accountant (AICPA) certification, and a master degree in accountancy from the University of Texas at Dallas. He worked as an auditor at New York Ernst & Young from 2014 to 2017
Zhiyi Jiang, Chief Technology Officer. LinkedIn
Zhiyi is also the community ecosystem chief designer and builder of the Coindaily platform. He is a Co-Founder of EOSBIDU (EOS block-producer) with 10+ years of experience in Internet Operations and Management with Huawei Tech and Tencent.

According to information we got, the team consists of 50 employees. Half is developing the platform and the other half are for rating, media, and investment capital. We evaluated the team members by LinkedIn profiles on the site. The team is young. The profiles seem being created recently and contain from 1 to 50 contacts, which is surely not enough to state rich previous work experience. Should be noted that LinkedIn is not popular in China and it can explain such profiles. Information about the team in the english speaking internet is extremely small, and the one that is presented on the site is clearly not enough.

Advisors
Shuoji Zhou. LinkedIn
Founding Partner of FBG Capital. 7+ years of working experience in IBM and Oracle
Kenji Sasaki. LinkedIn
Co-Founder of Cardano (marketcap $2,7млрд, 9th rank in CMC). One of the early preachers for blockchain and crypto investors in Japan. CEO of Next Chymia Consulting, and the executive director of Cardano Eco Accelerator - Emurgo HK, responsible for marketing, promotion and blockchain consultancy in Asia.
Da Kong Yi. LinkedIn
Consultant and investor in Coindaily and many other projects such as THETA, ZILLIQA, ITC, AELF, SCRY, IOTA, NXT, NEM, etc. He has over 6 years of experience in Blockchain investment.
FBG founding partner and Cardano co-founder will definitely add Coindaily team an experience of blockchain projects development and promotion

Hype
English Telegram and Tweeter channels are quite small - 2,3K and 1,6K followers accordingly. In addition Coindaily has WeChat channel with 100K+ followers and WeiBo channel - 13K followers. On August 22 WeChat banned a lot of crypto accounts and main Coindaily account was banned as well. However Coindaily has created several separate groups in WeChat recently which are still functioning

Project strengths:

• Comparing to other websites-aggregators that provide users with analytical information on blockchain projects, Coindaily has many innovative features, eg investment channels with collateral mechanism, own wallet, etc.
• Coindaily has large community and good reputation in Asia, especially in China, Hong Kong and Taiwan.
• Small hardcap, acceptable bonus and lockup of most of the tokens minimum for one month
• Venture Capital investments

Project weaknesses:

• Ban of the main Coindaily WeChat channel may lead to the loss of some potential users of the platform.
• Several previous releases were unsuccessful therefore Coindaily still doesn’t have an MVP

Verdict: Coindaily is still on early stage of product development though has rich experience of blockchain projects analysis. Coindaily is going to provide a wide range of services to other projects, as well as to potential crypto investors. The demand for these services will depend on their cost, the quality of the analytics and the convenience of the platform. Capitalization has growth potential though it will also depend on the community interest to the project.
Our rating - 80%

We provided interview with Nate Zhang, CFO during the research. Below are some questions and answers we discussed:
Q) What is the concept of Coindaily. Would you be so kind to describe the idea, target audience and revenue generation model?
A) Concept: Coindaily platform will serve the users, including investors and project teams, with all the information you need to make an investment decision or perform a fund raising event. Mainly, the platform will include project basic introduction information, ratings from the most well-known agents, third party indicators, UGC, and verified investment channels.
Target Audience: Global blockchain investors and blockchain teams.
Revenue Generation Model: Advertisement fees from project teams; User premium services such as in-depth analysis reports, asset management consultancy; PUSH transaction fees; ICO commission fees.

Q) Who are competitors of Coindaily? Is there any example of the same platform with token integration in it?
A) There are ICO info platforms such as icodrops.com, there are rating platforms like icorating.com or icobench.com, there are investment platforms such as leekico.com, but there aren’t any similar platforms like Coindaily that incorporates all these services in just one place and also applies an innovative token model, with which it will stimulate users to engage more and perform better.

Q) Coindaily Platform consists of several parts and modules. Can you shortly explain what each or main part is for, and especially the difference between Project Information Platform and “Rocket Schedule” (ICO Information Platform)
A) There are two types of users in the platform: investors and Projects/third parties. For services for investors, there are mainly project information, ratings, investment channels, asset managements, and PUSH transactions. For services for projects/third parties, there are precise advertising services, project fundraising event listed services (verified and pledged, also known as “Rocket Schedule”).

Q) Roadmap. Could you tell me some more about last two stages of your roadmap? Project Lab launch in Oct 2019 and Public chain launch in 2020. I was not able to details about this in Whitepaper.
A) Project Lab: The reason we want to build this chain is because we plan to, eventually, decentralize our platform, especially for the investment function. If by that time there aren’t any existing blockchain that can satisfy our needs, we would have to build our own chain to achieve the goal.

Q) There are several websites which aim to provide very similar services on ICO projects to crypto community for free (reviews, ratings, scores, etc) . What is the main Coindaily advantages? For example I’m an ordinary crypto enthusiast with 2 Ethers. How Coindaily can be useful for me? And should I pay for it? What if I’m a big investor? The same question?
A) Coindaily users not only can enjoy various free services from the platform but also can earn token by performing certain procedures such as creating insightful contents or watching certain ads. But the main advantages are: 1. the platform is integrated with comprehensive services assisting users from understanding, analyzing, and to investing in the projects,etc. Most of services/rewards are open to the ordinary users, even when you hold only 2 ETHs, and while you are super user, you could enjoy more discounts on premium services, etc.

Q) Why Coindaily need its own token? Why don’t you just establish price list for Coindaily services in BTC/ETH/etc?
A) a. Raise fund to develop and maintain the platform; b. Holders of the token will also be users of the platform. c. In the long term, we’re planning to build our own blockchain, DAILY token is needed.

Q) On Aug. 22, WeChat, China’s biggest messaging app that has over 1 billion active monthly users, banned the accounts of cryptocurrency investors, users and businesses. As I understand Coindayly account with more that one hundred thousands followers was banned as well. What impact it will have on Coindaily business? What will you do if crypto business will be totally banned in China?
A) Our business was not affected too much due to the preparation we have done for such events. About three months ago, we started to migrate our users from WeChat account to lots of other different accounts and other media channels. The Coindaily Platform is targeted at the global market, hence if crypto business were to be banned entirely in China, it wouldn’t change too much of our daily operations.

Q) How you choose projects for evaluation? Are there any criterias for choosing? Who provides the analysis? Do you have clients who order the evaluation/analysis? Who are those clients?
A) Coindaily rating team chooses their rating project independently. Sources of their rating projects include but not limited to: projects self-application, advisors recommendations, community popular projects, etc.

Q) When do you plan to provide public sale?
A) October 2018 for 2000ETH

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