CoinFi ICO Review – Decentralized Market Intelligence - Crush Crypto

CoinFi ICO Review – Decentralized Market Intelligence

Summary

  • Project name: CoinFi
  • Token symbol: COFI
  • Website: https://sale.coinfi.com/
  • White paper: https://docs.google.com/document/d/1p6xaFl4nPv1CuJv6F2fkZ6qBq2lBS6ePyFna8QZt1KM/edit
  • Hard cap: $15 million for 50% of total token supply
  • Conversion rate: 1 ETH = 7,500 COFI
  • Maximum market cap at ICO on a fully diluted basis: $30 million
  • Bonus structure: 3 Rounds (20%, 15%, 10%) in presale, 5% in first hour of crowdsale
  • Presale or white list: Presale begins on January 15, 2018, second and third round begin on January 22 and 29, 2018. KYC required for ICO and whitelist will be required. Register here: https://sale.coinfi.com/register?locale=en
  • ERC-20 Token: Yes
  • Countries excluded: US, Canada, China, Hong Kong, Cayman Islands
  • Timeline: Crowdsale begins February 8 and ends on February 22, 2018 (please refer to CoinFi's website for the most up-to-date information)
  • Token distribution date: February 28, 2018
Video summary (video is 8:26 long):

Project Overview

What does the company/project do?

CoinFi is attempting to create an all in-one platform for cryptocurrency investors with analysis, catalysts, and tools/signals to be offered all on the same place.

CoinFi’s platform will aid users with a collection of tools for choosing strong investments as well as offering a chance for users to build a reputation for their analysis on their platform.

CoinFi will offer a crowdsourced and curated real-time news database, as well as a number of ways for users to identify abnormal market conditions, or the best place to purchase coins without having to do so manually.

It also offers a platform that combines a decentralized social platform, with automated trading signals, and the option to sell your own trading tools.

This diagram explains the CoinFi platform in a nutshell:

Coinfi platform

These are core components of the CoinFi platform:

  • Media: CoinFi’s in-house contributors will also be posting their own analysis and news on the coins that they cover. Users will also have a platform to contribute their own analysis and potentially price-affecting news. Users will be incentivized to fact-check these contributions, and will be rewarded with an increase in their account’s reputation. Content quality will be based off of social signals (page views, upvotes), the “virality” or speed at which the content spreads, the trust score of the contributor as well as potentially a manual review from in-house contributors.
  • Signals: CoinFi will also offer a variety of signals, algorithms and bots created by the CoinFi team, as well as those created by other users. CoinFi will have an auction system as well for third party products built and sold on their platform.
  • Community: CoinFi offers a decentralized way of dealing with reputation. Users will be able to upvote and downvote content contributed by other members of the community, and said users will be able to offer subscription-based content based off the success of their analysis on the platform.
How advanced is the project?

The platform is currently developing the closed beta and the public released is scheduled for late Q1 2018. Their whitepaper includes several examples of some of the signals they plan to offer, with examples of when the signal would trigger.

Here is a summary of their roadmap:

Q1 2018

  • Create basic platform
  • News and content aggregation on price charts overlaid on each cryptocurrency
  • Social functionality (including upvotes and downvotes)
  • Develop editorial procedures and begin in-house compilation of news for existing cryptocurrencies
  • Prototypes of machine learning algorithms for content classification, quality assurance and fraud detection

Q2 2018

  • Offer advanced functionality for staked tokens
  • Custom cryptocurrency portfolio dashboard, newsfeed/watchlist, and email subscriptions
  • Users will be able to follow other users’ portfolio

Q3 2018

  • Launch premium subscription for content
  • Offer sentiment analysis for real-time news data
  • Begin accepting community content contributions

Q4 2018

  • Launch premium trading signals
  • Begin accepting community contributed trading signals

2019

  • Launch trading algorithms
  • Begin accepting community contributed trading algorithms
  • Create framework for auction system
  • Create platform architecture for combining and customizing signals
What are the tokens used for and how can token value appreciate?

In order to access advanced features of the CoinFi platform, users need to lock and stake COFI tokens. The real-time aggregation of news portion of the platform is free, but advanced features, such as trading signals and in-depth research will require staking or payment of various level of COFI tokens.

Power-users on the platform are able to offer subscriptions to their content, as well as the ability to auction their trading signals and bots. CoinFi will receive a percentage of the proceeds to these subscriptions.

The value of COFI token should appreciate as the platform offers more and more value to its users. Users will want to purchase COFI tokens for access to the in-house CoinFi content as well as the content published by other CoinFi contributors.

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Team

The CoinFi team consists of 12 members. The bios of key team members are listed below:

Timothy Tam, Co-Founder – 15+ years in equities trading and hedge funds. Ex-Goldman Sachs Asia trader as well as with two Asian hedge funds. Co-Founded an Asia Long/Short Hedge Fund that specialized in event trading.

Han Chang, Co-Founder – M.S. in Computer Science from Boston University. 8+ years of experience developing webapps serving 10M+ users and has written black box equity trading algorithms. Founded a Chinese bitcoin exchange.

Nate Tsang, Co-Founder – J.D. from UAlberta Law. 7+ years of experience growth-hacking media startups. Cofounded a keyword intelligence platform for digital marketing that was acquired in 2016.

CoinFi’s advisors include: Roger Lim, Partner of a VC Firm in China, Advisor for Bluezelle and SelfKey, Edmund Lowell, CEO of SelfKey and founder of KYC-Chain, Tom Howard, Founder of Block Republic, Lester Lim, Marketing Strategy Advisor for SelfKey, and more.


Opportunities

  • Cryptocurrency investment is gaining recognition rapidly. Demand for financial analytics in the crypto space is surging – especially when institutional money start coming in.
  • The team has a strong background in finance and investment which helps the project to open doors to institutional investors. This helps driving demand for premium content and services.
  • CoinFi is bringing an all-in-one solution to cryptocurrency investing and trading. Their scope is more ambitious than other similar projects.
  • The tokens have a clear utility in that higher access level would be unlocked when a user holds more tokens. This prevents too many users having access to the same signals which will dilute the value of such information.

Concerns

  • There are many similar projects that compete with CoinFi to some extent, for example, Cindicator, Santiment, Enigma, CoinDash, and Coinigy. These projects generally have a more advanced development progress since they started earlier.
  • The ICO is essentially a white paper project with the public beta scheduled to be released late Q1 2018 – it is one thing to have ambitious roadmap but it is another to be actually able to deliver.

Conclusion

Overall, we like both the flipping and long-term potential for this ICO. Our thoughts on buying the tokens for flipping and investing for the long term are as follows:

For flipping

Good. All the projects that compete with CoinFi have a market cap of well over $100 million. With the high market awareness that CoinFi has, there should be plenty of unmet demand for the tokens once they are listed on exchanges.

For long-term holding

Good. Cryptocurrency investing is the Wild West right now and we believe there are significant inefficiencies and information asymmetry that traders can take advantage of. If investors have better information, they can outperform the market.

With the team’s background, we believe CoinFi is well positioned to attract usage from institutional investors.


For more information about the ICO, please visit the following links:

* The information contained in this article is for education purpose only and not financial advice. Do your own research before making any investment decisions.

This article is contributed by Victor Lai with the help of our intern Richard Wang.

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