Analysis of ICO Coin Governance System (CGS)
CGS was designed as system which allows on-chain insurance of funds raised in an ICO. It uses these scheme of work:
- Funds raised in an ICO are storing on special escrowed wallet
- ICO launcher receive funds from CGS wallet gradually (or on daily basis) according smart contract terms
- In case of any conflict between ICO launcher and investors Arbiters (holders of CGS tokens who are independent from ICO investors and launcher) will vote on interrupting smart contract. In case of continuing, smart contract will work as before, in case of interrupting – CGS will enter into ‘withdrawal mode’, and investors will receive back remaining funds. Tokens of a persons who started an arbitrage will be locked on a smart contract before the conflict will be resolved.
Testnet is available now, beta release will be performed in the beginning of Q3, full release – in start of Q1 2019.
No information about business plan or details of future token sale can be received from WP or website. Token sale details just announced, so we can wait we will receive them.
No marketing strategy presented – possibly it will be shown later.
Team looks professional and having real Linkedin profiles, and founder have a successful start-up experience. Unfortunately, there are no blockchain advisors, and no financial persons.
The Vision of the Market
No market research was presented in WP. But, according the main tendencies, number of ICO started is growing (it can be seen, for example, at Google Trends), and according some opinions, 80-90% of them potentially are scam or just underprepared. So, the product can be interesting for market.
Understanding of the Target Audience
Target audience consists from all ICO investors and launchers.
The main advantage of the product is lowering the risk of losing all funds in case of scam or fall of the project. Looks like the project has no actual competitors at this moment.
Project strong sides: interesting idea, existing testnet, strong team.
Project weak sides: lack of business plan and marketing details.
So our position is weak positive.