ValPromise

ValPromise

Created using Figma
Created using Figma
"Value Promise" - "ValPromise", aims to create a platform with a distributed platform with distributed promises based on chains, which takes into account the problems of managing different types of risks and cross-regions on a global scale and can be widely applied in insurance.
  • Market
    Pair
    Price
    Volume 24H
    24H (price)
    24H (volume)
  • FCoin
    VPP/USDT 2 months ago
    $ 0.0001
    -
    -
    -
  • FCoin
    VPP/ETH 2 months ago
    $ 0.00002683
    -
    -
    -
Jul, 2018
Jul, 2018
100% completed
Raised funds - no Data
50.3 K
Goal 4 300 000.00 USD
Cap 8 600 000.00 USD
past
Token Details
Ticker
VPP
Accepted Currencies
ETH, BTC, LTC, BCH
Company Details
Registered Country
Singapore
Additional Details
Platform
Ethereum
Whitelist
Yes ,
KYC
Yes
Categories
Platform

About ValPromise

Value Promise - The Deal Project ("ValPromise"), is committed to building a blockchain-based, distributed promise contract release-trading platform that addresses multi-variety and cross-region risk management across a global spectrum (insurance, futures, options contract issuance and trading, forecasting services) issues.

ValPromise determines if promises are honored, basing on the public monitoring data via Internet. It allows any individual or organizations that satisfy the rules of the system have access to release their own promises (contracts), while any individual may accept promises(contracts) issued by counterparties with their trust on the fairness and enforceability of the contract itself, which solves problems ofcollaboration regardless of geographical differences and regulatory differences. Specifically, the ValPromise project will focus on the risk management area which scales up to over $1 trillion annually and deliver with a decentralized promise
mechanism involving in releasing and trading. They aim to build a fully trusted, more efficient and cost-effective collaboration system of global risk management.

The exponential weather insurance will be the ValPromise’s first mature application. So far, with the leading unattended system in pricing automatically and risk control in China, they have made a great deal of cases successfully and have issued over 200,000 guarantee contracts on weather risk in the past 6 months. Over 20, 0000 customers from tourism and agriculture industries are served and they reached a cooperation relationship with Ink Weather, Tujia, Sunshine Insurance Company, major travel agencies and so on.

The ValPromise system will empower regular individuals and organizations to easily find hedge contracts and services tailored to their individual needs, which helps build a more efficient ecosystem of risk management across the globe. The ValPromise risk management system will develop a wide range of applications in the future such as index insurance, commodity futures, foreign exchange futures, entertainment and others.

ValPromise Roadmap

  • December 2018

  • Continue to operate the ValPromise blockchain system and strive to achieve steady growth in the market value of the ValPromise token system.
  • Early April 2018

  • Value Promise Protocol is completed, and the mobile ValPromise business system is online.
  • Mid-May 2018

  • The first weather insurance scenario application is online, ValPromise holders can start participating in ValPromise financial contract transactions
  • Late May 2018

  • Complete the private placement of the ValPromise project
  • Read More
  • End of June 2018

  • Determine ValPromise's online trading hours in the first batch of digital cryptocurrency trading systems
  • July-August 2018

  • ValPromise first exchange public trading
  • August 2018

  • Complete the ValPromise mainstream futures, options, index insurance contract template online, the mainstream index index set online
  • November 2018

  • The ValPromise blockchain integrated business system was initially completed. Everyone can post a promise, everyone can believe the promise, the purchased contract can be re-transferred

Activity

Activity:
1
VERY LOW
Posts:
2
VERY LOW
Views:
69
VERY LOW
Posts:
23
VERY LOW
Followers:
318
VERY LOW
Likes:
281
VERY LOW
Rating:
5
VERY HIGH
Followers:
235
VERY LOW
Tweets:
56
LOW
30 Days Growth:
-1
Members:
9 717
HIGH
30 Days Growth:
-1505
Year commits:
0
Watchers:
7
Stars:
1
Forks:
3
Open issues:
3

ValPromise Team

Verified 100%

Xiang Tao
Data Scientist
verified
Zhen Jiao
Computer Science
verified
Eddie
Full stack development engineer
verified
Wang Hui
Full-stack development engineer
verified

Advisors

Verified 100%

Wang Lijie
Advisor
verified
Wang Gang
Advisor
verified
Wu Xiaoguang
Advisor
verified
Lao WeiXin
Advisor
verified
Raymond Yang
Advisor
verified
Melody He
Advisor
verified
Ivan Zhang
Advisor
verified

ValPromise Last News

$ 0.00001733
Coin Stats
Daily, %:
Weekly, %:
Monthly, %:
Market Info
Market Cap:
$ 9.644 K
Volume 24h:
Circ. Supply:
556.343 M VPP
Ticker:
VPP

ValPromise Reviews

Samson Owiti
Cryptotrader, Crypto investor, Blockchain business expert

VALPROMISE is a universal protocol that resolves the decentralization of financial contracts for free trading and ultra low-cost deployment application that apply to all public chains that support intelligent contracts.

PROS:

  • The platform opens up different  markets enabling the start-ups of businesses by the users enabling them to meet the higher demands and supply  caused by geographical differences
  • The platform  has a well generated mobile application which helps to reduce the application cost of blockchain  and enabling the users to easily access the platform across the globe with adequate front-end experience
  • The platform use makes clear specific transaction elements to the users including delivery time  and price, buying and selling directions .This helps reduce the unnecessary cost incurred by the users in making transactions
  • The platform securely stores data  and no one can tamper with the data once they are stored in different blocks due to self-certification mechanism
  • The platforms VPP tokens meet the ERC20 standards  making it be easily used as a unified trading medium hence breaking the limitations of the type of currency and betters access to global markets
  • The  platform has a good team with adequate skills and experiences  relevant to the project implementation as most of the members  have promoted the startup of different projects

CONS:

  • The loss or damage of the private key necessary to obtain the VPP tokens is irreversible
  • The value of the VPP tokens is greatly affected by the fluctuations of the market  prices of different cryptographic tokens
  • The platform technical team members involved are fewer

SUGGESTIONS:

  • The platform  should involve more team members with relevant experience to help in the easy project implementation
  • The  platform should set an insurance  institution to enable the protection of the funds raised from the sales of the VPP tokens and providing warranties to any loss from the token use
Read More
icorating.com
ICO review website

 Project’s whitepaper is outdated, however all information needed for informed decision making is available.

Despite project proposes improvements that has all chances to significantly contribute weather risk hedging market, it lack some important features that will define project’s success. Also, it is not defined how easy it will be to create a contract. If no assistance is provided, users will have to hire professional Solidity developers who are scares and cost a lot. It this will be the case, total costs of using a platform will be high and may decrease the demand in the beginning, when contracts are developed.  Another issue is project’s adoption rate. Financial institutions are reluctant to innovations, therefore project will have to spend a lot on marketing to bootstrap adoption. Until these issues are clarified, project’s success is questionable.

Technical side of the project looks well thought-of and clear, however further clarification of consensus mechanism. Also, Ethereum blockchain at the moment quite low tps that is not suitable for high volume networks dealing with IOT. This problem is not covered in the whitepaper. Also, technical description of how contracts are created is superficial.

By now, team managed to stick to the deadlines. Since project is actively working on development chances are high that they will deliver updates on time. However, we note that roadmap is short-term. Also, roadmap does not cover BD aspects.

Team provides contradicting information about team composition. If website information is correct, we note that initial team lacks blockchain experience. Nevertheless, team has strong advisory board that can significantly contribute to the project.

Financial market cases prove that weather derivatives instruments are really applicable in the real life. In addition, there is no other company that provides a blockchain solution for weather derivatives. This creates a prosperous environment for ValPromise. However, since project targets only China, that may be an unnecessary limitation bounding potential profits.

Since only 15% of the tokens will go public, adaption may be limited since potential users will have to buy VPP on the secondary market from either delegators and other platform members or from those who received tokens randomly. We also note that since only 15% are distributed, there can be a lack of liquidity. In addition, there is no information on use of proceeds.

Despite token economics is promising, incentives to hold token are not clear.

Since information about Chinese part of the internet is unavailable on BE1 platform, marketing efficiency can hardly be judged, since China is the primary market. However, we note that project has poor representation in social media.

Read More
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