The Abyss: High Quality Rate | Digital Rating Agency

The Abyss: High Quality Rate

17.01.2018

The Abyss: High Quality Rate
The DigRate has assigned Quality Rate High to The Abyss project. The Abyss is a decentralized digital distribution platform, where developers are to be able to cut marketing costs, exchange traffic, and gain access to additional services. Players can play their favorite games and earn by participating in referral and motivational programs, auctioning game items, creating game content, and other social activities. The team has created a detailed model that clearly explains the platform’s internal processes. However, the success of the project largely hinges on a well-constructed marketing campaign. The issuance of tokens is limited, as the volume directly depends on the amount of funds collected during the ICO. Information on passing the Howey Test is absent. In the opinion of DigRate, ecosystem participants have a clear motivation for owning ABYSS tokens, as discounts are provided at the expense of the platform when payments are made in tokens (in contrast to fiat payments). This makes using ABYSS tokens more profitable than using fiat currency, and creates stable demand for the tokens. As a defensive mechanism against token devaluation, the company plans to burn one third of its commissions through a smart contract, which should reduce the number of tokens in circulation. The company’s legal structure is transparent. The project’s website also presents all of the following documents: Privacy Policy, Terms & Conditions, Token Pre-Sale Agreement, Token Sale Agreement, according to which ICO participants agree to provide information for KYC procedures under the project’s AML policy. The project developers have published a smart contract code on GitHub, but has done little to develop the project source code at of the time of this publication. The project team has also presented the results of an independent audit of the smart contract. When this review was drafted, the team had not disclosed the members of the advisory board. There is also no detailed financial plan or information on VC investments. However, the project team has sufficient experience in the gaming industry and the ability to implement its business model. Pros and cons of the project, can be found in our review.