Main positives:
The project has a very reasonable hard-cap, a well written white paper, and an all-star team and advisory board.
The team has set aside 25% of their tokens for community building. The tokens for the team, advisors, partners and company are all vested in different time intervals. For specifics, check out their website which is linked in the description (https://oneledger.io/#distribution).
OneLedger offers both permissioned and permissionless side-chains and smart identity management across multiple distributed networks. The project also has a well thought-out architecture presented on their Whitepaper. Both factors are necessary for future growth and scalability of the ecosystem.

Main negatives:
There are a few existing projects with similar value propositions. It is also unclear how OneLedger is going to generate revenue after the initial funding from their ICO.
The white paper is relatively technical and difficult to understand for those who do not have a technical background.
Minimum Viable Product has not been released yet. Its release is scheduled for June 2018, while the main platform will only be available some time in 2019.

One Ledger is a good project, but no MVP until end of Q2 so no plans to participate. I'll circle back post-ICO.
13-July. OneLedger is under ICO price. I never touched OneLedger. Link

PRIVATE AND PRESALE ARE SUPER OVERSUBSCRIBED. Project looks good and has polymath ceo as advisor and a partner. Decent cap as well which is refreshing to see

5-Apr. OneLedger is rated as a TOP by “spreadsheeters”, but personally I rated it as Medium interest. A lot of hype is surrounding the project, however there is no value – that is why this hype is made-up. We didn`t like the fact that everybody started to shill OneLedger and we skipped the project.
23-May. Sergey: I think it is a medium project. Link
30-May. Sergey: It is Medium, but it is because I have not reevaluated it yet. It might be high.

OneLedger wants to create an agnostic protocol that allows businesses to use an API to connect and interact with the OneLedger blockchain. Finally if successfully developed OneLedger will actually accelerate blockchain adoption by giving businesses a uniform set of tools and services that other chains like Ark, EOS, Icon or else don’t currently have.
But there are two caveats to be aware of with One Ledger.
I noticed is that CTO and head of business development all occupying additional roles in other
companies.
The CTO has a wealth of managerial experience and the head of business development is an expert in technology and blockchain architecture in my opinion both members would be better suited if they actually swapped roles.
I gave it for the team 7.5 out of 10.This is probably quite a good project to get into and for token economics, I was very bullish maybe not as bullish as on BlockCollider, but I gave them 7.5 out of 10. Hype : 7.5 out of 10.

With little product development to show and the absence of any significant indicators on the business front, OneLedger remains a highly speculative project at the moment. Still, the OneLedger team and concept merit attention and we will continue to monitor the progress of this ICO.

We have deducted some points because of the absence of prototype, lack of publicity , and the high level of industry saturation.

23-March. It's not something that I'm looking for as a long-term position, but it is something that I can definitely recognize to be to be undervalued at this valuation. (15M)

2-May. No MVP is a concern and project may loose hype soon. Advisiors and polymath partnership looks convincing. Will buy on exchange later if I find project convincing.

Advantages.
1. It is anticipated that product will be in great demand to help companies easily build block chains and perform cross-chain functions.
2. Even for businesses that have a very large plan for identity verification, plug-in installation and market formation.
3. It is great idea to create an ecosystem by building protocols beyond simple solution programs.
A complementary point
1. The roadmap is slow and the code is not available on GitHub. MVP does not exist either.
2. A supplementary explanation of how the existing company's erp system and OneLedger's API will be compatible is needed. The competition will be intense when the existing IT companies will show similar solutions.
3. There is a possibility that the price increase momentum will not happen in 2018, so it is OK to buy in the future.

Overall, we like the flipping potential of the ICO but are neutral about its long-term potential. Our thoughts on buying the tokens for flipping and investing for the long term are as follows:
For flipping
Good. The idea, token metrics, and market awareness are above average. $15 million for a solid infrastructure project is considered fairly low in the current market condition.
For long-term holding
Neutral. Since this project is highly technical, without a functioning MVP that is available to the public, it is difficult to gauge the progress and quality of the development. Thus, it is hard to see whether OneLedger will be able to achieve their goals and succeed among the increasingly fierce competition.

( No MVP / Tester )https://oneledger.io 
-Strong Team -
DAVID CAO
FOUNDER & CEO https://www.linkedin.com/in/david-cao-ab217014/
David is the Founder and CEO of OneLedger. With over 3 years of blockchain experience and over 10 years of enterprise architect experience, David worked on a magnitude of technical projects for several Fortune 500 enterprises. 
ALEX TODD
CTA https://www.linkedin.com/in/alextodd/
Alex is a pioneer in the fintech and entrepreneurial space. He is the Founder and CEO of Trust 2 Pay, and former CTO of PRESTO where he led the creation of innovative industry engagement programs in support of the 10-year business model roadmap contributing to an estimated value of $200M+ over five years
STEPHEN LI
LEAD ENGINEER
https://www.linkedin.com/in/stephenliy/
Stephen is a senior software developer and a subject-matter expert in distributed application innovation. He is a former senior consultant for Morgan Stanley and Deutsche Bank. He also worked in IBM and Microsoft. 
- Use case - An industry leading inter operable blockchain platform is the natural succession to having leading payment (bitcoin), smart contracts (ethereum) blockchains. Furthermore to ensure the integration of the multitude of current blockchain projects/protocols
-Reasonable Hardcap and Attractive token metrics - $15m hardcap with c. 35% for public sale, other token allocations are subject to lockups and vesting periods more details on Token Allocation section.
-Detailed whitepaper and planning - displaying both description of technical architecture, project use cases(some of these such as "transparency and traceability of process through tagging of business flows" and " asset identification and transparent flow such as asset registration, donation process" are relevant to all blockchain protocols).

OneLedger has a highly demanded idea, a solid market waiting for the projects like this, a strong team and partners. Even weaker projects in this sphere have already got their market share and grown up significantly. From this point of view the project is very promising. We only want you to pay attention to the absence of MVP which is planned to Q2 2018. Its release may change the project disposition to any side.
An excellent project with a demanded idea and led by a solid team. It’s not a unique one, but stronger than its competitors, therefore it has everything for success.

We believe that without an existing MVP, and with increased business, commercial and other risks, participation in this ICO is risky for investors and only those whose risk appetite is high may wish to participate in the OneLedger public sale.

OneLedger has an ambitious, complex concept not currently existing in the market. Several competitors are developing comparable solutions, but there are differences between them regarding use cases, features and other functions. OneLedger’s platform is mainly aimed at businesses.

High growth rates for the ERP, SaaS and blockchain markets contribute to increasing demand for cross-blockchain / blockchain-to-regular network solutions.

We would like to highlight the relatively strong team working on OneLedger’s development. Most team members have experience in the development of enterprise solutions. The advisory board is satisfactory, featuring several experienced professionals including Trevor Koverko, CEO of Polymath.

However, we draw attention to the following significant risks associated with this ICO:

Absence of an MVP. At the time of this analysis (April 2018) the team has not yet released an MVP; it is expected to be released in Q1-Q2 2018 according to the project’s roadmap. Absence of an MVP clearly restricts the ability to assess team competences, product capabilities, the degree of product development and other crucial factors that investors in an ICO must consider before making any decision to invest. Once the MVP/alpha is released and the team’s progress can be assessed, this will be less of a risk.

ICO details, terms and conditions lack clarity. The smart contract code on GitHub is insufficient. The team is not transparent on its website or in the project’s whitepaper regarding some important ICO terms, e.g. start and end dates are not specified and token price is not mentioned anywhere. The terms for two presale stages were not specified (the team disclosed them in its Telegram group however). The smart contract code published on GitHub is not sufficient and does not cover significant terms for the ICO. We assess this risk as currently high, although if the team discloses the respective contract code and updates its website before the start of the public sale, the risk may be decreased at that point.

Revenue sources and project monetization are unclear. The team does not disclose the manner in which the project will be monetized, either on the project’s website or in the whitepaper. The team informs us that the project will be monetized via fees from users of the platform. However, these fees are not yet specified, and the need to support the platform and related working capital requires stable sources of revenue.

Competition and market risk. Competition is very high, and the fact that the majority of competitors mentioned have made considerable progress in the development of their products compared to OneLedger increases business and commercial risks for the OneLedger team. The team does not disclose in sufficient detail to what degree their product is compatible with existing ERP systems (given that the product is strongly aimed at enterprises); this is critical for an understanding of OneLedger’s competitive position.

The whitepaper is not comprehensive enough. Lack of specific technical details regarding crucial components and stumbling stones for the whole protocol and unclear/absent coverage of several important topics. Given that there is no MVP as yet, these factors significantly increase risks for investors.

Team composition. The team has ambitious plans in terms of product complexity and deadlines – they plan to release an MVP in Q2 2018, an alpha version and relevant API by Q3-Q4 2018 and the final platform release some time in 2019. 4 developers may not be sufficient to deliver a complex platform like this in a given timeframe.

Development risks. The team is supposed to release a final version of the platform sometime in 2019. As of April 2018, they do not yet have an MVP. Application, adoption and beta-testing/performance improvement of a product for enterprise use will definitely require significant time and effort from the team. In addition to this, several problems regarding compatibility and performance are to be solved prior to release.

Token price decrease.     Discounts during the presale and seeding, a significant portion of funding obtained during the presale and significant reserves for marketing/platform growth activities may lead to significant pressure on the token price before the platform reaches maturity.

Lack of communication from the team. Our analysts raised several questions in the official OneLedger Telegram group when performing this analysis, and 2 out 3 remained unanswered. In particular, the team did not answer questions about monetization and the purposes of the company reserve in the token distribution.

Based on the analysis performed, and taking into consideration all the risks associated with OneLedger project as of April 2018, we assign the OneLedger project a “Stable” rating. We draw attention to the fact that when MVP/alpha/beta versions of the product are released, this rating needs to be reassessed.