Serenity: High Quality Rate | Digital Rating Agency

Serenity: High Quality Rate

16.01.2018

Serenity: High Quality Rate
The DigRate has assigned Quality Rate High to Serenity project. The Serenity Financial platform is a marketplace for traders and brokers, implemented on a blockchain. Using the platform, cryptocurrency traders get the opportunity to invest in classical assets, keep a deposit and make profits in cryptocurrencies. The project founders say the use of their platform will significantly reduce: ⎼ commission fees for transactions, ⎼ fraud risk on the Forex market, ⎼ complexity of exchanges and other transactions. The project team has identified real problems in the modern foreign exchange market and presented a clear business model. The project developers have published the smart contract code for the ICO on GitHub, but an independent audit of the smart contract has not yet been conducted. The Verify My Trade system and the SERENITY crypto exchange are available as product prototypes, and can be tested on the project’s website. The project has a limited issuance of SERENITY tokens. The Howey Test has not been conducted. Tokens used to pay for the company's services will be withdrawn from circulation and destroyed. There are no tools (for example, the use of escrow) that would guarantee the return of investments, if the stated usage of funds is not followed. The whitepaper lists the project’s main legal documents: SAFT, Terms & Conditions, and Privacy Policy. Information about the legal structure of the company is absent. The team members are competent in their fields, the project founders have previously implemented a successful business in financial markets, and the project is supported by well-known consultants. Information on project support from VC investors has not been revealed in public sources. At the time of drafting this review, the level of the marketing activity (with the exception of Facebook and Bitcoin Forum) was below average. Despite the above-mentioned shortcomings, DigRate experts assume that the intentions of the project team are serious, and their abilities are sufficient to achieve the stated goals. Pros and cons of the project, can be found in our review.