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Oicoin

Oicoin

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Category: Security token                                                                       Country: Serbia   Date: September 25, 2018

CONCEPT

Project concept description

OiCOiN are tokens based on the Ethereum-platform intended for developing and extending worldwide trade of crystallized Osmium that reward coin holders for revenue of crystallized Osmium across the world.

 

Market problem relevance and methods of its solution by the project

Osmium is a rare precious metal, which is currently almost unknown, but it deserves to be well-known as gold.

 

 

TOKENOMICS

Project metrics

Private Sale: July 09, 2018

Pre-Sale: August 26, 2018

Round One: September 09, 2018

Round Two: September 23, 2018

Round Three: October 14, 2018

End of Sale October 30, 2018

 

Token: OiCOiN

Price: 1 ETH = 1.000 OiCOiN

Bonus: during Private Sale it could be more than 60% if will be invested more than 5,000 ETH

Platform: Ethereum

Total issue: 250M OiCOiN

Accepting: ETH, BTC

Minimum investment: 0,5 ETH (Private Sale), 0,5 ETH (Pre-Sale), 0,4 ETH (Round 1), 0,3 ETH (Round 2), 0,2 ETH (Round 3)

Soft cap: no

Hard cap: 125 000 ETH

Whitelist/KYC: Whitelist

Restricted areas: US

 

NOTE:

  • Hardcap 125 000 ETH is too high (optimal is $ 6-8M for the current market).
  • Because this project is based on the working business Soft cap  doesn’t needed.

 

Token and funds breakdown

Token Allocation:

84% Investors

3% Team

3% Promotion

10% Secondary market (tokens used for repurchasing already sold crystalline Osmium from investors)

 

Use of Funds:

83% Marketing/ PR/ Sales

1% Legal

10% Raw material options (work in cooperation with platinum mining companies which allow to extract raw osmium as by-product out of their production in the refining process)

5% Funds for secondary market

1% Consulting

 

The address of wallet of smart-contract ICO (PreSale) is https://etherscan.io/address/0xAa6Bf83784570cE6E114aeC683B6B23ca30cF763.

The project doesn’t have one wallet address for collecting the funds. The team is generating a separate wallet-address for each client. This is an error and will be fixed.

 

NOTE:

  • It would be better if funds for establishment of 100 subsidiaries would be separated from the Marketing/ PR/ Sales allocation.

 

Protective measures from token depreciation

Tokens that are not sold on the token sale will be burned.  

 

Secondary Market tokens will be used to buy back crystallized osmium from metal-investors – should they wish to sell the metal to the institute. This tokens doesn’t have a lockup but according to team’s statement at the same time they can’t be misused because of strong restrictions from German laws.

 

 

PRODUCT

Project products and technologies description

The project is selling security tokens (OiCOiN) to raise funds for the worldwide osmium realization and expansion to 100 subsidiaries (Osmium Institutes) across the world, with the goal to make osmium known as a new star in the precious metal world.

 

It is illegal for private parties within Europe and the US to trade of regular osmium. Only crystallized osmium is legal.

 

ICO and OiCOiN tokens issued by Serbian company Osmium Global Consulting. All crystallized osmium will be produced in Switzerland and shipped to Germany. According to the team’s statement, the only certifier and marketer of all crystallized osmium products worldwide is the German Osmium Institute (Osmium-Institut zur Inverkehrbringung und Zertifizierung von Osmium GmbH). From Germany, the products will be shipped to the globally positioned “Osmium Institutes”. The Institute of the specific country then is in charge to supply the local markets of wholesalers, investors or jewelers. Also, these institutes oversee the evaluation and recertify crystallized osmium which is put on the market. Re-certification on this stage is needed only in case if an osmium bar or disk is fragmented for re-sale to the jewelry industry and its shape and weight has changed.

 

German Osmium Institute previously was named Commodity–Trade.

 

Total availability of Osmium over the next decade is 2 m³ - which equals 44 metric tons. After it will be mined - there will be no more minable osmium on the planet.

 

Every token holder will receive his revenue share from worldwide crystalized osmium realization. The ICO company will receive the revenue share from the German Institute and send it to the wallets of the token holders. Revenue share formula: (10% of total revenue of sales crystallized Osmium * coins held) / 250.000.000. If the revenue share is less than 0.05 ETH it will be accumulated on the token-holders account until the 0,05 ETH threshold – the limit is reached. Revenue shares will be distributed until all expected raw material of 44 metric tons will be mined and crystalized. After that, no more material for crystallization will be available, and the revenue share will be terminated. According to the team’s statement

 

According to the team’s statement, it’s legal to trade security tokens in the country of the project incorporation.

 

NOTE:

  • Token price depends on the demand of the OiCOiN token on the market (which depends on the project revenue from selling crystalized osmium on the market of precious metals)

 

Stage of development and development strategy (Road Map)

GitHub provides only one repository. Activity on it is very low. According to the team’s statement development of the code is over and no further development is planned.

The roadmap is scheduled until 2020:

2018: ICO

2019: Preparation of listings on exchanges after first revenue share to Token holders.

2019: Start of development of new regions – 4 new Osmium Institutes per quarter to be established until 100 institutes are set up.

2020: Start of aggressive sales to the jewelry market.

 

NOTE:

  • There are no milestones exploring technological development. If the development of the code is over – audit of it from third-party service is needed to be posted online (according to team’s statement they are making steps in this way).
  • Establishment of 4 new subsidiaries of the company each quarter for the next 6 years looks unbelievably without detailed worldwide business development plan, thus it can push away investors.

 

Blockchain importance in the project

Use of smart contracts on the blockchain can eliminate need for a middleman and organize fast, fair, and trustless transactions between participants. Use of OiCOiN token can make transaction fees low and can help overall international revenue sharing process to happen.

 

NOTE:

  • At the same time for the revenue sharing blockchain technology is not necessary.

 

 

TEAM AND ADVISORS

Team experience and achievements

Ljuba Jakic, Managing Director -  Managing Director & Owner of Insignitus Gold (5 yrs) / Managing Director at AmRest (6 yrs 1 mth) / Marketing Direktor at Energoprojekt Energodata (10 yrs 4 mths).

Filip Ribarovic, Social Media Strategist – Sales Coordinator at GOLDprofessionell doo Beograd.

Damir Srpčič, Blockchain Developer – Software Engineer at GEM Interactive (4 yrs 5 mths) / Software Engineer at Marand d.o.o. (2 yrs 1 mth). His participation in the project is not confirmed. His experience as a blockchain developer is not confirmed.

 

Osmium Institute

Ingo Wolf, Founder of German Osmium Institute – Independent Entrepreneur at Science-TV GmbH, Commodity-Trade GmbH (12 yrs) / Director of German Osmium Institute (7 yrs).

Elisabeth Gleirscher, International Partner Management - Clerical Assistant at Schwarz & Partner Patentanwalte OG (1 yr 1 mth) / International Business Development at CARBON 4 Heizsysteme GmbH (11 mths).

Scarlett Clauss, Director of Public Relations - International Business Development at CARBON 4 Heizsysteme GmbH (6 mths) / Assistant Sales Management at Commodity-Trade GmbH (7 mths).

Denise Ludwig, International Social Media – Social Media Employer Branding at KPMG Deutschland (1 yr 2 mths) / Social Media Manager at grapevine marketing gmbh (1 yr 1 mth). Her participation in the project is not confirmed.

Michael Raupenstrauch, Head of IT - As Michael has been a computer professional for many years, he is in charge of all IT issues within the company. He has no history on the previous job. His participation in the project is not confirmed.

Jörg Saxler, Director Osmium Institute Australia – Project Manager at Jacobs (6 yrs 1 mth) / Senior Project Manager at NSW Telco Autority (10 mths).

Yingying Zhang, Director and regional partner China – Chief Content Officer at Grei Holdings AUS Pty Ltd (2 yrs 4 mths) / Portfolio Manager & Assistant to MD at Ironfish Perth (2 yrs 9 mths).

Matteo Fortin, CEO Osmium Institute South Central China – Director at Botecchi ivo Srl (2 yrs 7 mths) / Director at VDP Ltd (2 yrs 8 mths). His participation in the project is not confirmed.

Marion Langenscheidt, CEO Osmium Institute Spain – Branch Sale Director at Deutsche Bank (17 yrs 8 mths) / Manager at Mar Villas Inmobiliaria (2 yrs 11 mths).

Stanislav Marinov, CEO Osmium Institute Bulgaria - His participation in the project is not confirmed.

 

Project advisors

Michael Karl Gasser, Head of ICO Management Group – Michael has been working self-employed as a consultant in the financial industry for 20 years. He is a well-known crypto expert in German-speaking countries. He lectures crypto issues in the Chamber of Commerce of Austria as well as in miscellaneous other educational institutions. He runs a precious metal online shop for European customers Insignitus. Started one of the first crowdfunding platforms for regional projects Evercrowd.

Karl M. Walder, Project Developer - Karl has been working self-employed as an international business consultant for more than 35 years. Together with Michael Karl Gasser run Insignitus and Evercrowd.

Ulrich Zwirchmaier, Head of Marketing - Regional Sales Manager at KRONE Commercial Vehicle Group (3 yrs) / Area Sales Manager at Kögel Trailer GmbH & Co. KG. (1 yr)

Barbara Pauer, Head of Communications – Portfolio Development Manager at LIFESTYLEHOTELS (9 mths) / Division Sales Manager at Victrablitz (1 yr 6 mths).

 

Also, there are 2 senior advisors , who are prefer to be not named as they are currently working in a second ICO project as well.

 

 

PARTNERS AND INVESTORS

Strategic partners

German Institute has a strategic partnership with Switzerland osmium producer Swiss and German (only producer of crystalized osmium in the world). According to it all produced osmium must firstly go to the German Institute for a certification, and only then it can be sold to any point in the world.

 

The project has plans to establish 100 subsidiaries across the world in 6 years. According to the whitepaper, already established 6 Osmium Institutes around the world.

 

NOTE:

  • The project has not claimed signed partnerships with any exchanges.
  • Confirmation of opened subsidiaries in 6 countries around the world wasn’t found online (the team is aiming to provide online information that could confirm this as soon as it is possible).
  • Information about a Switzerland producer (Swiss and German) of the crystalized osmium wasn’t found on the project’s site and whitepaper.

 

Large investors and investment funds

Information about current investments in the project was not disclosed, as it’s under the NDA.

 

 

MARKET

Market competitive environment

Osmium is much rarer than all the other precious metals. The global extractable amount of osmium is about 9 m³. A maximum of 2 m3 of this will be degradable in the next decade. At a density of 22.61 g/cm³, this corresponds to a mass of about 44,000 kg. The annual processing for the investment market is only 120 kg. The production for various applications is up to 360 kg per year but is stretched as much as possible and depends on platinum and nickel production.

 

Osmium can be compared to rhodium, iridium, ruthenium, palladium and platinum.

 

Rarer the precious metal is, the more extreme the market reactions are. One of these rare metals, with an annual production of about 25

tons, is rhodium. As markets tightened with rhodium, price jumps up to 1,000 percent in a few years. The rhodium market is only $ 1 billion and is extremely flexible, while the platinum market is well over $ 10 billion, and the gold market is worth as much as $ 200 billion. About ten years ago, on June 19, 2008, at an all-time high of $ 10,100/ ozt, rhodium became the most valuable precious metal ever traded in the world. The deflation in the same year dropped the price to a tenth. It recovered to $3,000 by 2010, only to fall back to $890 in December 2013. Now price of the rhodium is $ 2300/ ozt. Price of the iridium raised from $ 62 per ozt in 1911 to 1430 per ozt in 2018. Price of the ruthenium in 13 years raised from $80 to $ 255 per ozt. Price of the palladium raised from $ 110 per ozt in 1986 to $ 948 per ozt in 2018. Price of the platinum raised from $ 420 per ozt in 1986 to $ 809 per ozt in 2018. Prices of these metals are not in linear growth - they have significant raises and drops.  

 

According to the team’s statement, the only certifier and marketer of all crystallized osmium products worldwide is the German Osmium Institute (Osmium-Institut zur Inverkehrbringung und Zertifizierung von Osmium GmbH). So project by selling securities is offering to share a revenue of a monopolistic segment of the market.

 

As of now the market cap of crystalized osmium is $ 100k, but the lab was not adjusted to do a real volume, and there was only a few first customers like Hublot (mainly because by now product is unknown in the masses, and goal of this crowdfunding campaign to change that). With the current business development speed the team is confident to stick to numbers that are posted in the whitepaper.

 

There are no direct competitors in the blockchain space that are aiming to work with osmium.

 

Blockchain projects with security tokens:

  • Corl - raised unknown amount, capitalization - not available, ROI USD – not available.
  • Cryptopay - raised unknown amount, capitalization – $ 1,1M, ROI USD – 0,09x.
  • Binex - raised $ 18M, capitalization - not available, ROI USD – not available.

 

Revenue share model via security tokens is risky and not attractive for retail investors, because the regulatory of them in different countries is not transparent and uncertain. For institutional investors, who are aiming to make investments in a working business, revenue share via traditional securities is more attractive.

 

Project advantages

The project has next advantages:

  • Monopolistic status on the market of the crystalized osmium.
  • All senior team members have fundamental knowledge in precious metals - and are even teaching this sort of know how internationally.
  • Subsidiaries in some countries are already established (at least representatives in those countries are confirmed).
  • Secondary Market tokens will be used to buy back crystallized osmium from metal-investors – should they wish to sell the metal to the institute

 

 

SOCIAL ACTIVITY

Project’s popularity in social networks and at topic forums

As of 13 September 2018, the user base in the social networks of the project counts over 53,7k users and the audience’s activity is low.


Twitter – 21,2k followers, average number of likes per post from 64, and from 34 reposts per 1 post on average, with 0 to 30 comments. The audience’s activity is low and looks not natural.

E:\Users\Reklamapsy\Desktop\в Интернете\криптокопирайтинг\ICO Pools\Oicoin twitter.jpg

Telegram – 30,8k members. The audience’s activity is medium but looks not natural.

 

Reddit: 17 followers, audience activity is low.

 

Youtube: 519 subscribers, number of views on most videos is 1,4k without any discussion – it looks artificial. User activity is low.

 

Instagram: 1115 followers, the average number of likes per post is 33, the average number of comments per post is 6 (but they are not valuable), audience activity is low.

 

Profile in BitcoinTalk – the level of Hero. The topic was read 527 times, audience’s activity is low.

 

According to the SimilarWeb, a number of monthly visits of Oicoin.io site is 88 210 (total number of visits is 216 573, and it’s +66,22% from the last month)

 

 

RISK ASSESSMENT

Strengths:

  1. Monopolistic status on the market of the crystalized osmium.
  2. Some of the team members have already worked on the market of precious metals.
  3. Subsidiaries in some countries are already established (at least representatives in those countries are confirmed).
  4. Tokens that are not sold on the token sale will be burned.  
  5. The osmium institute will buy back osmium from investors - should they wish to sell again - against OiCOiN tokens (which are reserved for it) until they are used up.

 

Weaknesses:

  1. Importance of the blockchain in the project is very low.
  2. Projects with security tokens previously was not successful on the market;
  3. Hardcap 125 000 ETH is too high (optimal is $ 6-8M for the current market).
  4. Bonuses for the Private Sale investors are too high.
  5. It’s not clear were 6 claimed Osmium Institutes in different countries already established or not.
  6. Current progress on the business development around the world is not clear.  
  7. The project doesn’t have one wallet address for collecting the funds. The team is generating a separate wallet-address for each client. This is an error and will be fixed.
  8. Project is generating a separate wallet-address for each client.
  9. Funds for establishment of 100 Osmium Institutes are in the allocation Marketing/ PR/ Sales and exact percentage for establishment is not specified. They should be separated from to the standalone allocation.
  10. Result of the code audit by a third-party is not provided.
  11. The roadmap doesn’t disclose details on the business development (establishment of local Osmium Institutes in different countries). According to the team’s statement, a speed of this work depends on various aspects, one of which is a number of collected funds.

 

 

Fraud risk - low. Community interest - low.

DISCLAIMER: This is not financial advice! None of the members of ICOPools.io are licensed financial advisors, hence you are urged to do your own due diligence and take your own decisions. (read more)