ICO Project SKYBIT (SKYBIT)
Tokensale Start: 21/11/2019
Tokensale Finish: 31/12/2019
SKYBIT is a platform on which users will be able to provide their goods and services around the world, as well as trade and exchange crypto assets. Also, users and charitable organizations will be able to conduct international fundraising campaigns using the platform. In addition, users will be able to use the SKYBIT website as a platform to advertise their products and services to people around the world.
Business Model Overview SKYBIT (SKYBIT)
1. The validity of income
The project will receive income from the fee charged for transactions on the platform. The commission fee will be 0.25% per trade for each participant in the transaction. Users will be able to use SKYBIT tokens to receive reduced transaction fees on the platform. The discount on regular fees will be 50%. Also, 10% of all tokens that were used by clients to receive a reduced transaction fee will be burned at the end of each month. The project team predicts revenue at $ 8 065 613 by 2024.
2. Number of currencies accepted
The number of accepted currencies includes 4 liquid currencies: USDT, BTC, ETH, XRP.
3. Token emission
The project has a limited number of tokens. A total of 1 000 000 000 SKYBIT tokens will be issued (p. 36 White Paper).
4. Discount on the purchase of tokens
The discount on the purchase of tokens is 50% (p. 36 White Paper).
The project has a developed flow chart, which indicates its goals until 2023 (p. 34 White Paper). After the completion of the token sale, the authors of the project will distribute the funds as follows: 30% - “Product Development”, 30% - “Marketing”, 25% - “Operational expenses”, 10% - “Reserve”, 5% - “Legal expenses” (p. 37 White Paper).
6. SOFT CAP / HARD CAP Ratio
The project has a poor SOFT CAP / HARD CAP ratio, which negatively affects its investment attractiveness. The values of SOFT CAP and HARD CAP are $ 100,000 and $ 5,000,000, respectively.
7. MVP availability
The project has been developed by MVP, which is available at https://tradingplatform0.herokuapp.com/trade.
8. Risk assessment and insurance
At the same time, however, there are no risk assessments by international standards, as well as any risk insurance methods, for example, Escrow, which increases the risk of loss of capital of potential token holders.
Criteria of accordance to the international standards of business-planning of UNIDO and EBRD