HybridBlock ICO Review – Cryptocurrency Trading Ecosystem - Crush Crypto

HybridBlock ICO Review – Cryptocurrency Trading Ecosystem

Summary

  • Project name: HybridBlock
  • Token symbol: HYB
  • Website: https://www.hybridblock.io/
  • White paper: https://s3.amazonaws.com/hybridblock--io/assets/2017/11/08121417/HybridBlockWhitepaper-V1.9.2.pdf
  • Hard cap: $53 million (ICO Participants receive 53% of total token supply)
  • Conversion rate: 1 HYB = $0.30
  • Maximum market cap at ICO on a fully diluted basis: $94.3 million
  • Bonus structure: 33% presale discount (1 HYB = $0.20), $50,000 minimum contribution
  • Presale or white list: Presale & whitelist open until February 28, 2018
  • ERC-20 Token: Yes
  • Countries excluded: USA, China, South Africa, Cayman Islands
  • Timeline: ICO starting from March 15 to 22, 2018 (please refer to Hybridblock’s website for the most up-to-date information)
  • Token distribution date: Upon token sale conclusion
Video summary (video is 9:25 long):

Project Overview

What does the company/project do?

HybridBlock is an exchange ecosystem that aims to bring cryptocurrencies to everyday retail investors. It will attempt to cater from the beginner to the expert day trader looking for sophisticated and reliable trading tools. HybridBlock focuses on the Asian market.

The HybridBlock ecosystem will contain three distinct trading products: BaseTrade, HybridExchange, and HybridTerminal.

BaseTrade will be an easy to use cryptocurrency platform, containing a wallet and an exchange for buying and selling. This is akin to the Coinbase platform. There will be fiat funding options tailored to each country that HybridBlock operates in, with this platform being designed as the simplest on-ramp to the market.

HybridExchange will be the consumer platform, providing traders access to liquidity. The platform will have a full order book in designated markets and currency pairs, and will provide traders with access to the major cryptocurrency exchanges in a single interface.

In addition to the web client, there will be HybridTerminal – a desktop trading terminal that connects to HybridBlock and their partners’ APIs.

Another aspect of HybridBlock is HybridFX, which will enable the creation of digital tokens backed by local fiat currency, essentially a stable coin that works similar to Tether. A one-to-one reserve ratio between the tokens and its associated real-world asset will be maintained.

Lastly, HybridBlock will have a mobile wallet called HybridWallet, built for storing and transacting Hybrid Block tokens and HybridFX (HFXs).

Here is an introductory video of HybridBlock (video is 2:03 long):

How advanced is the project?

The HybridBlock concept was developed after R&D in May 2017. The official whitepaper release occurred on November 15, 2017, with the HybridCentral Beta coming out on December 1, 2017.

The BaseTrade and HybridExchange Beta launch is planned for April 2018. Video demo for the products is expected to be released before the crowdsale. The HybridTrade Beta and HybridFX product launch are planned for May 2018. After May 2018, the roadmap lists no other milestones.

What are the tokens used for and how can token value appreciate?

HybridBlock has created the Hybrid Token (HYB), an ERC20 token designed to play a functional role in the HybridNetwork.

HYB token holders will receive discounted fees, exclusive access to new products and services, and opportunities to invest in future ICO/token sales that launch on the HybridBlock platform.

HYB tokens will have three primary functions:

  1. Payment of transaction fees and all services within the HybridBlock network.
  2. To power the market efficiency mechanism.
  3. A tradable cryptocurrency token available on the open market.

HYB token will be the payment unit for network transactions on HybridFX, akin to gas paid on the Ethereum network. Theoretically, as the network transaction volume of HFX tokens grows, so will the value of Hybrid Tokens being used to pay transaction fees.

Additionally, Hybrid Tokens will be used to pay for premium content such as HybridAcademy learning modules. They will also be used for services provided by the HybridExchange, and access to the HybridTerminal.

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Team

The biographies of key team members are listed below:

Apolo Ohno, Co-Founder – Apolo Ohno competed in 3 Olympics in short track speed skating and received 8 medals. He co-founded multiple businesses in health & wellness, technology, real estate, telecom, and other interests in Asia. He is the co-founder of Quantum Block Capital, which invests in ICOs, blockchain start-ups, and other promising technology.

Rod Jao, Co-Founder – Rod has experience in software development, private equity, and was the co-founder of Allysian, a plant-based nutrition company.

Jonathan Bates, CEO/Chairman – Jonathan has spent 25 years in the financial industry as Managing Director at JP Morgan and before that as senior VP at Citigroup. He also worked as a director at Barclays and focused on wealth management at Smith Barney. He is a shareholder in Blockchain Holdings, with interests in blockchain and digital currency asset management, investment banking, and ICO advisory.

Sung Cho, Technology Innovation Officer – Sung co-founded Cy Group, a stock trading firm providing transparent routing and clearing services to consumers from active traders to API clients. His trading expertise turned to cryptocurrency in 2015, and he is involved in translating Wall Street trading technology into the cryptocurrency space.

Dr. Michael Sung, Chief Strategist – Dr. Michael Sung is the managing director for CarbonBlue Innovations, a tech transfer platform and investment fund focused on artificial intelligence, autonomous vehicles, and semiconductor technologies. He is faculty at the Hong Kong University of Science and Technology, where he teaches about high-tech entrepreneurship and innovation.

Advisors for HybridBlock include Jonathan Weinberger, former Executive Secretary and Associate General Counsel in the White House and Executive Secretary of the Treasury Department, Reeve Collins, Co-Founder and CEO of Tether and BlockV, Florian A. Rais, Founder of Far Investments, Andrew Donley, Senior Software Architect at Unikrn, among others.


Opportunities

  • In Asia, there are very few good fiat gateway exchange outside of Korea/Japan, so the Coinbase/GDAX in Asia model is well positioned to capture the Asian demographic. 
  • The company aims to get the order book/trading pair of the major exchanges. If it works, then the potential is substantial as traders can enjoy combined liquidity, although we do see risks of those exchanges not allowing HybridBlock to do it. However, the risk is mitigated because those exchanges would still profit from those trading.
  • HFX is available as a stable coin in different local currencies and is audited monthly by a third party accounting firm. The market needs a stable coin outside of Tether and none of the alternatives are big enough yet. HFX can potentially accelerate the adoption of cryptocurrency because it is a stable coin that can be used as commerce, trading, etc.
  • The team has mentioned some key hires from other major exchanges so we believe they are capable of development a solid exchange with good user experience.

Concerns

  • The competition is fierce in the cryptocurrency exchange space from both centralized and decentralized players.
  • HybridBlock, being a fiat gateway exchange, is dependent on local government regulation. Government regulations can speed up or slow down the exchange’s progress depending on its stance.

Conclusion

Overall, we are neutral about the short-term potential of this ICO but like its long-term potential. Our thoughts of the tokens for short term and long term are as follows:

For short-term holding

Neutral. The idea and team is above average, but the amount raised and current market environment makes it difficult to have demand post listing. Exchange coins (BNB, KCS, and BIX) tend to appreciate after the exchange has been operational and shows significant trading volume.

For long-term holding

Good. The market likes exchange coins (BNB at $962 million, KCS at $430 million, and BIX at $90 million). HybridBlock’s scope is broad and ambitious – stable coin, combined order books from major exchanges, and fiat ramp up can each provide substantial upside for HYB tokens. We believe it has a good chance to succeed because of the strong team and advisors.


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 Kieran O'Day.

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