DADI ICO Review and Token Analysis
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DADI ICO Overview
The internet as we know it is at a crossroads. On the one hand, the recent ruling against net neutrality in the U.S. is centralizing even more power in the hands of powerful corporations like Facebook, Google and Amazon. On the other, blockchain technology has put the theoretical possibility of decentralized internet services right within our reach. As the the fight continues for a truly democratic, open internet, some developers have turned to blockchain based technology as a means to offer decentralized alternatives to Web 2.0 products. The DADI ICO is offering one such alternative.
DADI ICO Value Proposition
DADI stands for Decentralized Architecture for a Democratic Internet. It is an enterprise-grade web services stack, build on an architecture comprised of numerous “micro-services”. With DADI, there is no single authority that regulates computing resource distribution. The platform uses cost-efficient cloud computing organized by a Decentralized Autonomous Organization (DAO), as opposed to a centralized structure, which rids of the need to pay in advance for Web 2.0 cloud computing platforms such as Amazon Web Services (AWS), Microsoft Azure and Google Cloud.
DADI uses its own ERC20 token (DADI). The two primary actors in the DADI ecosystem are Consumers and Miners. Consumers will be charged fees for their usage of DADI web services while Miners are rewarded for provision of CPU to the network. There are three types of Miners within the DADI Network: Stargates, Gateways and Hosts. Stargates and Gateways are network node owners who contribute bandwidth. They are the entry point to the network, acting as an aggregate point for Host node capacity and providing the domain name system that makes Host resources addressable. Hosts are network node owners who contribute computational power. DADI web services run in a container service within Host environments. DADI tokens are the currency of the DADI Network. Most of the fees within the network go to Hosts, while a percentage of every Host’s income will be paid to the Gateways that they are attached to. A smaller percentage will be retained and dedicated to supporting the underlying connectivity of the network. In addition, a small portion of DADI tokens will be continually burnt according to usage of the network itself. The number of tokens burnt can be used to control inflation and ensure supply over time. Below is a diagram of the ecosystem:
DADI ICO Team
DADI has assembled an 18 member, full-time engineering, strategic and design team with over 300 years of collective experience. As the team is so extensive, we have included information on three key players below. More information on the rest of the team can be found here.
Joseph Denne is the Founder and CEO of DADI. He is the visionary behind DADI’s decentralized architecture and web services. Joseph is an expert in multi-agent and blockchain technologies as well as big data and machine learning. He has 20+ years of experience in developing data and content platforms.
Chris Mair is a Co-founder of DADI and key architect behind the decentralized business strategy. Prior to joining DADI, he was a partner at Airlock, where he headed the strategy division. Before joining Airlock, Chris was the Global Head of Digital Technology for fashion brand Diesel where he was responsible for the development and implementation of the brand’s digital strategy across 33 markets worldwide.
James Lambie is a Technical Director at DADI and an expert software/data architect. He has extensive experience in blockchain technologies and is responsible for the development of DADI’s decentralized cloud and web services layer. James was previously the Lead Developer for BBC Worldwide and a Lead Developer for Barclays Bank.
On the advisory side, Wirehive CEO, Robert Belgrave, is providing guidance to the DADI team. Robert brings solid experience in cloud services to the project, having been part of the founding team at Wirehive and instrumental in its success in the five years since.
DADI ICO Strengths and Opportunities
The offchain web services stack aspect of DADI is already utilized by several enterprises. Virgin Limited Edition, a luxury holiday retreat site part of Virgin Group, runs the DADI customer relationship management service. A typical utility of this service is to track activity, enrich user profiles and support targeted messaging (email or push notifications, for example). Another DADI web service, content manipulation and distribution, facilitates access to image, audio and video assets of digital products across a range of devices. Online global affairs and lifestyle publication, Monocle, uses DADI for managing their content assets on the site. DADI has already demonstrated the versatility and diverse use applications of its web services through such partnerships. As existing enterprise clients adopt the blockchain integrated DADI web services, DADI will have a fair shot at gaining an initial foothold in the web services market they aim to disrupt.
DADI ICO Weaknesses and Threats
The most palpable weakness of the project is the existing competition within the target market DADI is after. Competing for users against the likes of Amazon Web Services, Microsoft Azure and Google Cloud is no easy feat. The main selling point put forward by the team are the highly reduced costs of running DADI over centralized cloud setups. The whitepaper cites the example of online automotive magazine, What Car?– deployment saved 65% on the month-to-month web service infrastructure costs. The team optimistically predicts typical cost savings will be 90% of what AWS charges once the full DADI network comes online. While the cost saving incentive exists, the prospect whether this alone is enough to draw in a significant chunk of the market is questionable. Switching over vital infrastructure from well-established and assuredly reliable tech services poses a lot of risk for enterprises no matter what their scale. Until we see large enterprise partnerships test DADI’s onchain services and demonstrate comparative reliability to their Web 2.0 counterparts, the road to gaining significant traction will be long and difficult.
Speaking of the product itself, DADI has yet to release to the public an onchain version of the web services. When we contacted Senior Engineer Eduardo Bouças, he informed us that one enterprise client is currently running a live product on the testnet, though he did not divulge what company that client is. The team has already demonstrated their ability to develop a full-stack web services product, and the fact that half of the equation is there already gains points. Still, the DADI ICO is about an onchain web services platform and without even a prototype demonstration before the crowdsale, the risks remain high.
The Verdict on DADI ICO
After taking all factors into consideration, we’ll be placing a small bet on the DADI ICO. The team have already demonstrated a very high degree of competency and formed an impressive group of partnerships. Still, the lack of verifiable onchain product development and huge degree of competition leave us cautious.
Learn more about the DADI ICO from our Telegram Community by clicking here.
Today’s Date: 1/5/17
Project Name: DADI
Token Symbol: DADI
Crowdsale Hard Cap: $29 million
Total Supply: 100,000,000
Token Distribution: 60% to crowdsale, 20% to founding team, 10% to partners, 5% for referral program, 2.5% for Ecosystem Fund, 2.5% operations
Price per Token: Presale $0.40 USD = 1 DADI / Crowdsale $0.50 USD = 1 DADI
Maximum Market Cap (at crowdsale price): $48 million
Bonus Structure: N/A
Presale Terms: 20% discount on the Public Sale price
Whitelist: Presale whitelist closed. Crowdsale register here https://dadi.cloud/en/register
Important Dates: Presale January 22 / Crowdsale January 29
Expected Token Release: TBA
ICO Review Disclaimer
The team at Crypto Briefing analyzes an initial coin offering (ICO) against ten criteria, as shown above. These criteria are not, however, weighted evenly – our proprietary rating system attributes different degrees of importance to each of the criteria, based on our experience of how directly they can lead to the success of the ICO in question, and its investors.
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This category accounts for the leaders, developers, and advisors.
Poor quality, weak, or inexperienced leadership can doom a project from the outset. Advisors who serve only to pad their own resumes and who have ill-defined roles can be concerning. But great leadership, with relevant industry experience and contacts, can make the difference between a successful and profitable ICO, and a flub.
If you don’t have a team willing and able to build the thing, it won’t matter who is at the helm. Good talent is hard to find. Developer profiles should be scrutinized to ensure that they have a proven history of working in a field where they should be able to succeed.
What is the technology behind this ICO, what product are they creating, and is it new, innovative, different – and needed?
The IOTA project is a spectacular example of engineers run amok. The technology described or in use must be maintainable, achievable, and realistic, otherwise the risk of it never coming into existence is incredibly high.
Tokens which have no actual use case are probably the worst off, although speculation can still make them have some form of value.
The best tokens we review are the ones that have a forced use case – you must have this token to play in some game that you will probably desire to play in. The very best utility tokens are the ones which put the token holder in the position of supplying tokens to businesses who would be able to effectively make use of the platforms in question.
There doesn’t have to be a market in order for an ICO to score well in this category – but if it intends to create one, the argument has to be extremely compelling.
If there is an existing market, questions here involve whether it is ripe for disruption, whether the technology enables something better, cheaper, or faster (for example) than existing solutions, and whether the market is historically amenable to new ideas.
Most ideas have several implementations. If there are others in the same field, the analyst needs to ensure that the others don’t have obvious advantages over the company in question.
Moreover, this is the place where the analyst should identify any potential weaknesses in the company’s position moving forward. For instance, a fundamental weakness in the STORJ system is that the token is not required for purchasing storage.
With many ICO ideas, the timing may be too late or too early. It’s important for the analyst to consider how much demand there is for the product in question. While the IPO boom funded a lot of great ideas that eventually did come to fruition, a good analyst would recognize when an idea is too early, too late, or just right.
Progress To Date
Some of the least compelling ICO propositions are those that claim their founders will achieve some far-off goal, sometime in the future, just so long as they have your cash with which to do it.
More interesting (usually) is the ICO that seeks to further some progress along the path to success, and which has a clearly-identified roadmap with achievable and reasonable milestones along the way. Founders who are already partially-invested in their products are generally more invested in their futures.
Community Support & Hype
Having a strong community is one of the fundamental building blocks of any strong blockchain project. It is important that the project demonstrates early on that it is able to generate and build a strong and empowered support base.
The ICO marketplace is becoming more crowded and more competitive. While in the past it was enough to merely announce an offering, today’s successful ICO’s work hard to build awareness and excitement around their offering.
Price & Token Distribution
One of the biggest factors weighing any analysis is price. The lower the price the more there is to gain. But too low of a price may result in an under capitalized project. It is therefore important to evaluate price relative to the individual project, its maturity and the market it is going after.
The total supply of tokens should also be justified by the needs of the project. Issuing a billion tokens for no reason will do nobody any good.
Communication is key. The success of a project is strongly tied to the project leaders’ ability to communicate their goals and achievements.
Things don’t always go as planned but addressing issues and keeping the community and investors in the loop can make or break a project.