Coindaily is devoted to the primary market of blockchain projects, and is determined to provide one-stop information diffusion, investment decision consultancy, post-investment tracking services, and other project-specific customized services for investors and project parties. Our goal is to provide users with a friendly, open, and interactive primary market integrated service platform, thus making our own contributions to the prosperity and development of the blockchain industry.
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Attention. There is a risk that unverified members are not actually members of the team
CoinDaily is not a conventional ICO, and is neither a protocol nor a DApp. It is a centralized business that links the company’s performance to a token. The platform is still in the early stages of development, so it will be interesting to see whether it can attract users once it is completely functional. The large community base and its good reputation in Asia should help the project grow. The hardcap is fairly small, so we believe the team should not have any issues reaching it. As the majority of the tokens would be locked upon the initial release, it is an ideal candidate for a quick flip. Investments from huge VCs and partnerships with Binance and OKex also makes this project lucrative for investors. However, it must be noted that CoinDaily has not yet produced an MVP, and their main audience is based in China, where regulations on cryptocurrencies are being tightened. This may result in a loss of potential users of the platform.
Strength and Opportunities:
Coindaily is already active in the business of providing information about ICO projects. The platform was able to attract significant amounts of users to its channels and we can assume that this will be the case for the future. As the market recovers and a new bull market emerges more people will become interested in this space again and seek high quality information.
Weaknesses and Threats:
Today it is not yet clear whether this kind of platform which Coindaily is running is suited for performing an ICO. It remains to be seen whether this ICO approach can work out for traditional companies as well. Coindaily seems to be an early pioneer in this field and we will learn soon whether these experiments will be successful in the market.
Verdict:
Coindaily is not a conventional ICO. It is neither a protocol nor a decentralized app. It is more a traditional business that is active in the blockchain space in a similar way as Binance and KuCoin are. Just as Binance and KuCoin, Coindaily has decided to link the company performance to a token. So far this has worked out pretty well for Binance, which by many measures is considered the world’s largest cryptocurrency exchange. Investors need to take this different nature of the platform into account when making their investment decisions.
