Analysis of Mobius – Connecting to the Blockchain Ecosystem

Summary

  • Project name: Mobius
  • Token symbol: MOBI
  • Website: https://mobius.network/
  • White paper: https://mobius.network/mobius_white_paper.pdf
  • Hard cap: US$39 million (public crowdsale ICO contributors own 30% of total token supply if hard cap is reached)
  • Conversion rate: 1 MOBI = $0.12 - $0.16 depending on contribution time
  • Maximum market cap at ICO on a fully diluted basis: US$130 million
  • Bonus structure: 5-18% bonus during pre-public sale depending on contribution amount
  • Presale or white list: Pre-public sale going on now
  • Blockchain platform: Stellar
  • Timeline: public sale from November 22, 2017 (please refer to Mobius’ website for the most up-to-date information)
  • Token distribution date: After the end of ICO, MOBI tokens will be tradable on the Stellar decentralized exchange
Video summary (video is 7:35 long):

Project Overview

What does the company/project do?

Mobius aims to integrate the blockchain ecosystem into apps. With its DApp store and public APIs, Mobius makes it easy to connect applications, devices or data streams to the blockchain ecosystem.

Mobius has 3 major product offerings:

DApp Store

  • Mobius is creating a universal DApp Store that will be similar to the Apple App Store and Google Play Store, making it easier for consumers to find DApps.
  • MOBI tokens are being used in Mobius DApp Store to facilitate in-app payments and it rewards the users and developers, circumventing higher fees of 30% that are found in the Apple and Google app stores.

Oracles

  • The primary task of an oracle is to provide information to smart contracts. Smart contracts are designed to be triggered by events, which are reported to them by oracles, performing pre-programmed tasks based on data inputs.
  • A proof-of-stake protocol is used to incentivize oracles to provide correct data and penalize oracles that provide incorrect data. The Mobius Universal Proof of Stake Oracle Protocol will require oracles to vest and stake MOBI tokens before inputting data into the blockchain ecosystem. Oracles that provide incorrect data will be penalized while oracles that provide correct data will be compensated with MOBI tokens by data consumers.

Smart Markets

  • The Mobius Blockchain Smart Markets Protocol allows auctioneers, market designers and game theorist to work with developers to design and deploy smart markets to enable the trade of commoditized data and services in a secure and transparent fashion.
  • Decentralized smart contracts or end users submit bids to buy and offers to sell data or services in a commoditized manner.
  • Smart markets are designed to reduce transaction costs significantly and eliminate externalities while allowing for competition not possible in more traditional settings.

Mobius is built on the Stellar blockchain, which can support thousands of transactions a second with a confirmation time of less than 5 seconds.

How advanced is the project?

Mobius has a beta DApp store and a beta payment protocol. Below is the future milestones of the project:

2017 Q4

  • Publish research paper
  • Release Mobius Python SDK

2018 Q1

  • Stealth project proof-of-concept phase 1
  • R&D on off-chain token scaling & accounting
  • Universal governance protocol
  • Cross chain connectivity guidelines

2018 Q2

  • Universal proof-of-stake Oracle protocol
  • Enterprise test pilots
  • Blockchain smart markets protocol
What are the tokens used for and how can token value appreciate?

MOBI tokens are used as a currency on the Mobius platform – DApp store, oracle data, and smart markets.

Oracles also need to vest and stake MOBI tokens before inputting data into the blockchain ecosystem, following a proof-of-stake system.

As MOBI tokens are needed to perform different actions within the Mobius platform, the more usage the platform has, the more valuable MOBI tokens should be.

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Team

Mobius has a team of 3. Bios of the team members are listed below:

David Gobaud, CEO – serial entrepreneur, previously co-founded Pluto Mail and Yoshi.

Cyrus Khajvandi, COO – previously founder of Incentru, and Middleware Consultant at Oracle.

Monis Rahman, Head Research Scientist – PhD student at Stanford in Computational & Mathematical Engineering, previously CTO of Next 2 Percent.

Advisors of Mobius include Jed McCaleb, co-founder of Ripple and Stellar, Jackson Palmer, creator of Dogecoin, and Daniel Cawrey, Co-Founder & CEO Pactum Capital.


Opportunities

  • By having the project to run on the Stellar blockchain, Mobius is able to have a higher transaction throughout and faster confirmation time.
  • The problems that Mobius is trying to solve have a lot of opportunities. If Mobius is successful and gains traction, it have a lot of upside potential.

Concerns

  • It seems like Mobius is trying to do everything at once. The roadmap includes off-chain token scaling solution, proof of stake Oracle protocol, dApp store, and cross chain connectivity. Each of them is a huge undertaking by itself and there are projects that deal specifically in that one area. The lack of focus is going to divert the team’s attention and we are not sure if the Mobius team can pull everything off.
  • The project runs on the Stellar blockchain, which most people are not familiar with. ICO participants will need to learn how to use Stellar wallets to store and send the MOBI tokens. This is going to create another barrier for potential participants interested in buying MOBI tokens.
  • There is a tradeoff between scalability and decentralization. In Stellar’s consensus protocol, the network validators are not rewarded for good behavior or penalized for bad behavior. Each node selects a set of publicly trusted peers, and forwards only the transactions that have been validated by a certain majority of its trusted partners. This is how Stellar is able to support thousands of transactions a second with a confirmation time less than 5 seconds.
  • Because Mobius have a very broad scope, it competes with many blockchain projects in some way – Status, Decentraland, and District0x for the DApp store; Chainlink and Oraclize on the Oracle side.

Conclusion

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

For flipping

Neutral. In this market environment, we believe this ICO probably cannot reach the hard cap. Unsold tokens will be saved for future sale/distribution to community to build it, which is less desirable than burning the tokens from an investment standpoint.

For long-term holding

Neutral. The project is very ambitious and we believe this is not a good thing. For a small team of 3 (with the Head Research Scientist on leave in the middle of his PhD program), we believe it is better for Mobius to tackle one area successfully before moving to the next problem.


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

Website: https://mobius.network/ 

Whitepaper: https://mobius.network/mobius_white_paper.pdf 

Blog: https://medium.com/mobius-network 

GitHub: https://github.com/mobius-network 

Rocket Chat: https://mobius.rocket.chat/

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