Sifchain ICO analysis
Sifchain is an omni-chain solution for DEXes - Sifchain promises to build cross-chain transactions for 20-25 of the top blockchains such as Bitcoin, BinanceChain, Polkadot, and EOS. It also expects to simplify the process of blockchain integration, lowering the barrier of cost and development for the open-source community.
At the moment most of the declared features and resources are not available and the Betanet is supposed to be launched on the first day of the public token sale.
The team personalities are not available on the website which is not a good sign. We asked the team about that and they explained that they "try to keep it focused on the team as opposed to individual members", but that doesn't really explain an unorthodox decision to keep the team anonymous during the fundraising stage.
Sifchain lists TRG Capital, Bitscale capital, AU21 capital, and NGC Ventures in its Partners and Investors section. We contacted most of these funds and they confirmed their investment in the project.
Tokensale:
The token sale registration starts on January 11 and lasts until January 24 - the team anticipates that the KYC process can take a few days (non-US participants only and other restrictions). The token sale goes from January 25 until February 2.
The token sale will be executed through a fork of balancer smart contract that will ensure a maximum supply of 70 mln Rowan tokens (7% of total supply). The public token sale participants will receive wrapped eRowan tokens on the Ethereum network that will be 1:1 convertible for native Rowan tokens which will be used for staking on the Sifchain network for validating transactions and receiving validators reward. Rowans will also be used for staking in liquidity pools in exchange for the fees for liquidity provision.
The final token supply is set at 1 bin tokens which are distributed between private and seed investors (32%), reserved for the ecosystem (26.5%) and the team (34%).
Hype rating: low
Risk rating: medium
Total: medium
Conclusion: Sifchain is a project with a promising idea and a strong set of investors but an anonymous team and confusing sales terms.
ICORating does not endorse or recommend any of the projects that are rated or listed on icorating.com. This site cannot substitute for professional advice and independent factual verification. ICORating does not provide investment, financial, or legal advice.
Sifchain is an omni-chain solution for DEXes - Sifchain promises to build cross-chain transactions for 20-25 of the top blockchains such as Bitcoin, BinanceChain, Polkadot, and EOS. It also expects to simplify the process of blockchain integration, lowering the barrier of cost and development for the open-source community.
At the moment most of the declared features and resources are not available and the Betanet is supposed to be launched on the first day of the public token sale.
The team personalities are not available on the website which is not a good sign. We asked the team about that and they explained that they "try to keep it focused on the team as opposed to individual members", but that doesn't really explain an unorthodox decision to keep the team anonymous during the fundraising stage.
Sifchain lists TRG Capital, Bitscale capital, AU21 capital, and NGC Ventures in its Partners and Investors section. We contacted most of these funds and they confirmed their investment in the project.
Tokensale:
The token sale registration starts on January 11 and lasts until January 24 - the team anticipates that the KYC process can take a few days (non-US participants only and other restrictions). The token sale goes from January 25 until February 2.
The token sale will be executed through a fork of balancer smart contract that will ensure a maximum supply of 70 mln Rowan tokens (7% of total supply). The public token sale participants will receive wrapped eRowan tokens on the Ethereum network that will be 1:1 convertible for native Rowan tokens which will be used for staking on the Sifchain network for validating transactions and receiving validators reward. Rowans will also be used for staking in liquidity pools in exchange for the fees for liquidity provision.
The final token supply is set at 1 bin tokens which are distributed between private and seed investors (32%), reserved for the ecosystem (26.5%) and the team (34%).
Hype rating: low
Risk rating: medium
Total: medium
Conclusion: Sifchain is a project with a promising idea and a strong set of investors but an anonymous team and confusing sales terms.
ICORating does not endorse or recommend any of the projects that are rated or listed on icorating.com. This site cannot substitute for professional advice and independent factual verification. ICORating does not provide investment, financial, or legal advice.