ValPromise

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

 Project’s whitepaper is outdated, however all information needed for informed decision making is available.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