ICO review of Neonexchange (NEX): valuation, analysis, token cost | Digital Rating Agency
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High level of investment attractiveness
Medium-to-high probability of long-term investment return, the level of project development potential is above average.
A2
04/17/2018
High
Quality Rate
No detailed scores
ICO
now
Start: 15/04/2018
End: 15/05/2018

Neonexchange

About
Sale details
Tokens

Neon Exchange (NEX) aims to combine the performance of centralized exchanges with the trust and security properties of decentralized exchanges. The system consists of three main components: an off-chain trade matching engine, a smart contract where trades are executed, and a payment service where global assets such as NEO and GAS can be converted to tokens that can be transferred directly by smart contracts, making them compatible with the exchange. In the following sections, we describe each component in more depth.

Project plans to sell 25 million tokens to the public, of a total pool of 50 million. As payment methods project accepts NEO and GAS only.

Token distribution:

E.S.O.P – 1%;

Company fund – 4%;

Partnerships – 10%;

NEO Council – 15%;

Founders – 20%;

Public ICO – 50%.

Rate history

The first professional digital rating agency DigRate has assigned A2 investment attractiveness score to NeoNexchange  – medium-to-high probability of long-term investment return, the level of project development potential is above average. NeoNexchange is a decentralized trading platform for currency exchange. First of all, this platform is an exchange, the main distinguishing feature of which will be the Off-Chain Matching Engine (search and closing of the purchase / sale operations into the finished transaction). That is, the search for orders to close the transaction will be made outside of the blockchain, that will significantly speed up the throughput (NeoNexchange is potentially able to process and execute more than 100,000 trades per second). Thus, the product created by NeoNexchange will combine the high productivity of centralized exchanges and the security of decentralized exchanges. The project developers have already submitted an alpha version of the NEX Google Chrome extension, which will be used to conduct the crowdsale. The project team includes founders of the open blockchain developers community – NEO - City Of Zion. The founders of the project are also developers of the project with a high level of competence in the blockchain field, and NEO blockchain in particular. The team is represented mainly by specialists from the tech field and balanced by experienced financial advisers. However, the project should attract more marketing, management, finance and legal specialists on a permanent basis, according to DigRate analysts. Some aspects raise questions: for example, it is not clear at what stage of implementation the legal part of the project is to date. There is not a single legal document providing certain rights or disclosing risks to potential investors in open sources. There are also no legal documents of the legal entity and any information about the company as a whole. The greatest concern is the positioning of the NEX project token as a security token by team members. The NEX token will not be a means of payment within the platform and will be used to distribute part of the platform profit between NEX holders. Despite the fact that this token feature will attach value to NEX as the platform develops, the project team will face bureaucratic difficulties associated with the legalization of NEX as a security. In the light of constantly changing rules regarding cryptocurrencies, registration of a token as a security will be impossible in many countries and remains in question in a number of other countries. Positioning NEX as a security token will also make it difficult to list token on other exchanges. In general, the project is one of the most anticipated in the crypto industry as decentralized exchange that supports NEP5 tokens is necessary for the further development of the market. If the project team succeeds in timely settling all legal issues and NEX will be recognized as a security legally, then plans of the team can be successfully implemented, and NeoNexchange will present a completely new standard of exchanges and the first of its kind decentralized exchange with a performance comparable to modern centralized exchanges. Pros and cons of the project, as well as our recommendations, can be found in our report.
Token
Neonexchange
Price
1 NEX = 1.00 USD
Soft cap
-
Hard cap
25,000,000 USD
Bonuses at Pre-Sale
-
Platform
Ethereum
Token type
ERC20
Accepted
NEO, GAS

Downloads and links

Website
Report
Whitepaper
Rating scores express an opinion of Digital Rating Agency and do not have any fact-finding mission or recommendations to buy, own, sell any of the assets or take any investment decisions. Digital Rating Agency does not undertake any responsibility for any consequences, interpretations, judgements, recommendations and other actions directly or indirectly related to the rating score, the rating assessments from Digital Rating Agency, any summary and conclusions contained in the rating report and rating releases, or the absence of abovementioned. The only source, depicting the real state of the rating score, is the official site www.digrate.com
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Лицензия Creative Commons
Rating scores express an opinion of Digital Rating Agency and do not have any fact-finding mission or recommendations to buy, own, sell any assets and take any investment decisions. Digital Rating Agency does not undertake any responsibility for any consequences, interpretations, judgements, recommendations and other actions directly or indirectly related to the rating score, the rating operations conducted by Digital Rating Agency, any summary and conclusions contained in the rating report and rating releases, or the absence of abovementioned. The only source, depicting the real state of the rating score, is official site www.digrate.com