Fantom is not the first platform based on DAG. IOTA, Byteball, Nano and Hedera Hashgraph already started developing projects with the same technology. Hedera Hashgraph aims to raise 18M USD, which is twice smaller than Fantom wants to attract. There is no link to GIthub or other source to track the product development As of May 15th 2018, Beta is not available.
The chain is being designed so that FANTOM and low-level transaction tokens provide users not only access to the network but also Smart Credit functions. A Smart credit is an automated contract credit which uses Smart Contract technology stipulated in an internalized contract to force parties involved in the contract credit to fulfil their contractual obligations). As consumers grow and technologies evolve, Application hosts will require more FANTOM tokens to drive their business. A Smart credit contract guarantees user protection upon failure of the Application host (i.e. bankruptcy). Users can immediately regain their assets by redeeming them with FANTOM tokens that have been previously provided as surety, and connect them with other Application hosts. The company valuation - 100M USD - seems comparably high. The team does not clarify what "Market Development" reserved tokens will be spent for. The team gives a split of expenses only for 3 broad categories: Development, Operations, Marketing. This seems as a sketchy distribution.
There are 16 members working on the platform development + 11 foundation members, including CEO. Most of the core competencies are covered in the team. The CEO of Fantom has previous entrepreneurship experience. He sold one of his previous businesses(Point-I), and currently is the founder of Siksin Ltd (2M+ downloads from App store). The technical specialists have previous experience in Oracle. Most of the team members are located in Korea, while some key employees are in Australia. One of the senior developers does not have any other experience stated on Linkedin. Not all of the team members have Linkedin profiles.
3-May. Alexey: Fantom is interesting, the cap is rather big, however, it is Blockchain so its OK. We are watching it, right now we don't have a full opinion on this project.
23-May. Ivan: Lucas from PolicyPal is helping them. Technology is OK. There were red flags, but it has appeared to be FUD. Pre-sale is closed for now.
Sergey: Big team, looks like ICON. The whitelist will probably be oversubscribed. (28th May).
Andrey: We don`t have allocations. Link
30-May. Sergey: They raise a lot on pre-sale. I have been given small allocation, I have seen their wallet, funds are being raised actively. The project looks like ICON: big team, good advisory board. I think it is better not to miss this whitelist. Link
Fantom is one of several contenders that have chosen to combine DAG scalability with smart contracts for use utility. If the Fantom project is able to deliver on the promise of high TPS and leverage their industry domain toward enterprise adoption, we see the possibility for a path to actual use.
That said, at this point in the evolution of blockchain, when actual enterprise adoption of such technology will take place remains an open question. Regardless, we think the Fantom ICO has a team with the right mixture of blockchain expertise and industry domain for a fair shot.
Our thoughts on buying the tokens for flipping and investing for the long term are as follows:
For flipping: A
The market awareness for the project is very high. While the hard cap is higher than we would like, we believe there would still be plenty of unmet demand after the crowdsale.
For long-term holding: B
There is a lot of competition for next-generation blockchains. Fantom’s team is promising and the idea is good, but we are still uncertain whether they can deliver on what they have stated in their white paper because the project is still in an early stage of development. If the team can deliver on their promises, the potential could be substantial.
Current DAG platforms like IOTA, NANO, ByteBall lack the Smart Contract dApp infrastructure to challenge Ethereum, Fantom is going to be a real challenger to Ethereum as it will support smart contracts. You will also see more projects like this i.e. DAG+Smart Contract platform in near future. Fantom has first mover advantage but they won't be live until Q3 2019. I believe by the time they'll launch their mainnet we will already have some other DAG+Smart Contract platform running which may negate its first-mover advantage which is very important as shown by Bitcoin and Ethereum. They should speed up their progress to keep the investor's interest in this project high otherwise hype may fade away soon.
16-July. Fantom is a bunch of hype right. It's all hype, main net that is not launching till q3 2019. So I mean after that ICO, what's gonna keep it up but I mean I think I've been told to be having good people working behind them and I think the team behind them is gonna be good. I think I heard those through different channels, they'll know the good market maker, something like that. Link
FANTOM is entering a very competitive space. Most competitors have already been in development for longer a amount of time than FANTOM has. With that said, none of the current Platforms available have managed to scale enough in order to accommodate real-world usage for different scenarios. FANTOM claims they have a solution for this problem and that the team has the capabilities required to achieve the set milestones. We believe FANTOM will have no problem achieving their hard cap and creating a large follower-base due to the fact that its proposition is – the current “hot” solution of tackling Blockchain scalability. However, we believe that FANTOM’s team needs to urgently deliver once the crowdsale ends in order to build some type of trust and stature within the cryptocurrency community. This will only be done by delivering a more superior platform compared to what is available today.
Fantom will have its own virtual machine called FANTOM Virtual Machine (FVM) to execute the smart contracts. The FANTOM architecture is divided into three layers, bottom layer is called as the OPERA Core layer, the middle layer is called the OPERA Ware layer, the top layer is called the OPERA Application Layer. Application layer provides APIs for interactions, and the OPERA ware layer provides the functionality for payments, issuing rewards, incentives, Story data, and the Core layer maintains the consensus across all nodes using the Lachesis Protocol. Fantom sounds good to read on a paper now but time has to tell how they can deliver what they claim in their paper.
Fantom is not the only project, which uses DAG. The projects IOTA, Hashgraph and Nano are also developed based on DAG.
Projects, which launched protocols based on DAG, were attractive for investors in the past and demonstrated high effectiveness of investments after entering the exchange:
IOTA – in the course of ICO 1,337 BTC was raised, capitalization - $4,5 billion, ROI USD - >160x
Nano - ICO - not available, capitalization - $548M, ROI USD after entering the exchange - 431x
Byteball - ICO wasn’t held, capitalization - $109M, ROI USD after entering the exchange - 7,8x
Quark Chain - raised - $20M, capitalization – not available, ROI USD - 8,54x
Hedera Hashgraph – at the stage of Private sale $18M was raised, capitalization is unknown.
However, Fantom has advantages over its competitors, since the platform features infrastructure for smart-contracts and decentralized apps. Existing platforms IOTA and Nano have no such functions. But Fantom may face the competition of the projects under development, for example, Quarkchain and Hedera Hashgraph, which also adopt the technology of smart-contracts.
The crypto community’s interest in the project is high. The Telegram group has 46,2K followers, although a week ago this indicator was half the number. Activity in social networks is medium. But Fantom began to promote Icodrops in its community. There are no links to publications in mass media and visited theme conferences. Fantom was highly appreciated by many analysts of ICODrops, Lendex0, WolfCrypto, Sergio, Ben Godenzi, MoNoico, Bulk, which resulted in high community’s interest in the project.
Today the topic of solving the problem of scalability, transaction speed and fee level is the most relevant at the ICO market. High achievements of other projects with the use of DAG technology add confidence in the Fantom success.
Fantom has only few competitors, such as Nano and IOTA that are also based on DAGs, but the project leaves them behind by creating a much better infrastructure. By providing dApps Fantom is going to influence a number of real-world industries, including banking, food technology, telecommunications, etc. The team is large and strong, the partnerships list is really long, MVP is almost ready, the hype is also here. The main disadvantage is the final release date which is scheduled to Q3 2019. Anyway the project is trusted by both ordinary investors and serious investing companies.
A very promising project that uses several new technologies to resolve such issues of the blockchain technology as slow transactions and scalability. Being led by a large professional team and supported by a number of partners and investors, the project goes its way of success.
The project has the following strengths:
A significant and promising market niche (DAG-based infrastructure platforms).
Large team and notable advisors/partners.
Reasonable forecast of the distribution of funds.
Detailed description of the technical features of the project in the Whitepaper.
Based on the current market capitalization of the project’s competitors, the FANTOM project may be significantly undervalued.
However, there are still some risks linked with this ICO:
Given that there is no actual MVP yet, all of the factors above significantly increase the level of risk for the investors.
Team & Advisors – 8/10
Roadmap – 8/10
Token Metrics – 8/10
Positive - for short term flip
Neutral - for long term hold