High competition in the field of scalable blockchains. MANX is relatively late in the game with quite a few projects launching their mainnets in the next few months. After the growth of the throughput of the largest cryptocurrencies (sharding, plasma and other technologies) the attention to the later-introduced scalable blockchains may fall.
Currently, the quantum computers are far from adoption so the core product of MANX might not be demanded by the market. Currently, the project is on a concept stage. The Testnet is only expected in March 2019. The public chain launch is only expected in May 2021.
A Distributed Application running on a subchain can have its own token, building a closed loop token economy. When it is necessary to convert a token into fiat currency, it can be exchanged with MANX. MANX can then be exchanged for fiat currency or BTC, ETH and other mainstream currencies through the decentralized exchange provided by MANX itself. The token value added is unclear. MANX aims to sell 30% of its tokens for $30M hard cap. Therefore, the company valuation will be equal to $100M. The valuation seems too high. At the current market conditions, the projects of a cap over $100M are in the list of 60 largest projects. Vesting policy has not been revealed yet. The use of proceeds is not given.
The core team consists of 17 people. Most of them have a technical background and previously worked at various tech companies in China. Both of the co-founders hold PhD degrees in Information Security and Media Studies respectively. Most of the team studied at MIT at different times. Overall, the team looks solid and has previous entrepreneurial experience. The team is scattered around USA, Canada, and China.