Analysis of ICO Ziggurat Token
The Ecex.Exchange Platform is an online blockchain technology-based assignments exchange platform, which will provide users with:
- Opportunities to sell and buy assignments, claims, receivables, and mediate insurance contracts
- Various support services related to selling and buying through the exchange, and give users exercise right to realize their own requirements regarding claims
- Opportunities to ensure the secure of assignments.
It is interesting that debtors will be able to issue something like promissory, through which they will be able to receive funding. Ecex.Exchange ecosystems will look like a stock trading platform.
The platform will simplify and automate non-performed loans trade. Open information about the portfolio of NPLs, direct interaction of assignors, assignees and traders will contribute to objective pricing.
The product is interesting and it is quite possible that it has potential, but the concept is poorly developed.
Planet Ziggurat is aimed at 1 million trades per day by the end of the third year. The platform plans to profit from the following sources: trading fees, issuer background check systems, digital signing, exchange member fees etc. The cash flow will be similar to stock exchange business. The end goal is to expand globally, open trading platform for claim market in Shenzhen/Hong Kong area, in London and in New York. But not a word about how they are going to achieve these goals.
The token will be used for transactions within the platform.
The first version of the product will appear in April 2018. Further development of the product is planned until the end of 2019.
The maximum fundraising target is $ 53 million. It is utterly unclear why so much.
There is no information about the distribution of funds.
The business plan looks crude and lacks details.
The bounty program is planned to spend 4% of tokens. Under the bounty program, the tokens will be distributed in the following way (%X out of the bounty pool):
- Facebook Campaign - 18%
- Twitter Campaign - 18%
- Bitcointalk Signatures Campaign - 20%
- Bitcointalk Support Campaign - 20%
- Publishing Campaign - 12%
- Project Creative Support - 12%.
Social networks of the project look quite alive: more than 1500 followers on Facebook, more than 3000 readers on Twitter, from several tens to several hundred likes.
But in general there is no marketing strategy, there are only some elements.
The team includes only two people, without a detailed description of their experience and professional skills, without reference to profiles in social networks. Percival Software Limited participates as a partner in the project. It is completely unclear who will carry out the project and how.
The Vision of the Market
PlanetZiggurat gives data on the size of international factoring market - 6 billion dollars. There is no detailed analysis of the market and competitive environment.
Understanding of the Target Audience
The White Paper refers to two categories of participants in the platform. These are debtors and creditors. Creditors are interested to sell debts at any time, and debtors will be able to enter into favorable agreements regarding their debts. But this is not the description of the target audience segments; it is the description of the platform participants ' roles. We can say that the founders of the project don't have a clear understanding of the target audience.
The main advantage of the product is that creditors and debtors can buy and sell contracts in a very similar way. But there is no information about how the project differs from existing similar solutions and whether there is competition in this area.
As the strengths of the project Ziggurat Token we can mark interesting idea about the automation of factoring market.
But further its' shortcomings begin:
- ill-defined concept of the product
- vague business plan, overstated fundraising goal
- lack of market analysis and marketing strategy
- lack of reliable information about the project team.
The project contains a lot of details about tokens, but very little specifics about the product itself.