ICO Review: Etherparty (FUEL)

Transcription

1 ICO Review: Etherparty (FUEL) User-Friendly Smart Contract Compiler September 21, 2017

2 PROJECT OVERVIEW What is Etherparty? Etherparty makes smart contracts accessible to everyone without requiring programming knowledge. Etherparty is a contract wizard where users simply utilize templates that suit their own purpose. No expertise in programming is necessary. Core use cases: Peer-to-peer escrow contracts Supply chain management Real estate contracts Token creation Sports wagering Contractor agreements 2

3 PROJECT OVERVIEW Key features of Etherparty No other tools (e.g. Geth, etc.) required DESKTOP AND MOBILE PLATFORM Smart contract templates available No sync required to execute contracts User-created contracts to suit own needs Legally binding contracts Enterprise solutions without the need to change their existing infrastructure Access to mediator or arbitrators for contract disputes where necessary 3

4 PROJECT OVERVIEW Demo creating a crowdfunding contract 4

5 PROJECT OVERVIEW Development roadmap Milestones Release 1 End of Q Release 2 End of Q Release 3 End of Q : Vanbex Group is established. 2015: Etherparty is established. Develop backend / frontend systems. Authentication and authorization (e.g. 2FA). Network organization. Cloud integration. Mobile app for Android and ios. Notifications for desktop, SMS, etc. Expand contract templates and library. Oracle system. Drag-and-drop contract building capabilities. Add team members and team features. Advanced features for enterprise solution. 5

6 PROJECT OVERVIEW FUEL token sale summary ICO SUMMARY TOKEN ALLOCATION Project name: Etherparty Token symbol: FUEL Website: Hard cap: 86,666 ETH (at first week conversion rate) Total supply: 1 billion tokens Conversion rate: 1 ETH = 1,275 FUEL Max market cap at ICO: US$62M if hard cap is reached assuming current Ether price of $280 and pre-sale contribution of $25M Bonus structure: Yes ERC20 token: Yes Timeline: October 1 to 31, 2017 Token distribution date: By October 31 the latest depending on contribution progress 10% 5% 5% 40% 40% Pre-crowdsale purchasers Crowdsale purchasers Incentivize community, beta testers, strategic partners Sold directly on the platform at min. US$1 Etherparty team (6 month lockup period) 6

7 PROJECT OVERVIEW Use of FUEL tokens Access to the platform s functions, which includes access to the smart contract library, security monitoring tools, and a network monitoring dashboard. Contracts will require FUEL tokens. Because the price of FUEL may fluctuate, Etherparty will peg contracts to a fixed amount of USD, and adjust the amount of FUEL required to execute the smart contract based on this fixed price. Access for smart contracts on multiple blockchains, integrating these disparate blockchains into one unified view within the Etherparty platform. 7

8 THE TEAM Who are the people behind Etherparty? Lisa Cheng Founder & Head of R&D Kevin Hobbs CEO Steven Lee CFO Derek Spratt Executive Chair PARTNERS 8

9 OUR THOUGHTS The opportunities The project is run by a solid team at Vanbex, a blockchain consultancy company since 2013 with a number of well-known clients in its portfolio. 9

10 OUR THOUGHTS The opportunities With the development of dapps and blockchains aimed at solving the scalability issue, it is expected that smart contract usage will experience exponential growth in the coming years. Etherparty s long term goal is to be blockchain agnostic they can benefit regardless of which blockchain becomes dominant. Contract templates and library will continue to expand and cater to various clients and needs. Voting and ballot box contracts Notary services Crowdfunding Multi-signature escrow contracts Family trusts Money manager Supply chain management Timesharing Real estate sales 10

11 OUR THOUGHTS Our concerns Etherparty is not the only project working on making smart contracts easier for nontechnical users. They face competition from other projects such as Blockcat and Agrello. If the scalability issue for blockchain cannot be solved, there may be limited usage of smart contracts. The team needs to test the templates extensively to make sure there is no bugs. If there are any security flaws in their templates, many users could be affected and it would damage Etherparty s reputation. 11

12 OUR THOUGHTS Etherparty vs. Blockcat and Agrello Etherparty Blockcat Agrello Website Tagline A smart contract creation tool that allows users to create smart contracts on the blockchain. Lets anyone create, manage, and deploy smart contracts on the Ethereum blockchain with just a few clicks. No programming required. Create and manage smartcontract-based legal agreements by engaging your own AI counselor. No coding or legal skills required. Focus Enterprise contracts, securely audited and update, multichain publishing Small independent contracts, individual use cases. Multi-party legal agreements such as rent agreements. Circulating market cap* $48M $5M $28M Fully diluted market cap* $62M $7M $43M * Based on ETH price of $280 for Etherparty, and market caps for Blockcat (CAT) and Agrello (DLT) from Coinmarketcap.com on September 21,

13 OUR THOUGHTS What do we recommend? For flipping: Neutral. People could pool their funds together to participate in the presale which could potentially cannibalize demand for the public crowdsale. Uncertain if the hard cap can be reached. For long-term holding: Positive. Good long-term potential and clear market need. If they are successful, they could help accelerate the blockchain adoption rate for individuals and companies and at the same time, drive increased usage of FUEL tokens. 13

14