Velix.ID ICO Review
In the present mechanically propelled world, confirmation of character is to a great degree basic. Nonetheless, the way we recognize has likewise experienced developmental change including our names, telephone no, place of residence, ledger no, charge card no, usernames, passwords and considerably more. Governments around the globe have been making genuine strides toward this path viz. UN's ID 2020, Indian Government's AADHAAR Card and Sweden's BankID. This is the place Velix.ID comes in to give a stage to smooth personality confirmation.
The idea may not be something new but rather is positively eye-snatching. Be that as it may, is it extremely the following enormous thing? Today, we have taken up to complete a Velix.ID ICO Review to try out its potential and if it's justified regardless of your cash!
Essential dates
Token Sale Start: April 17, 2018
Token Sale End: May 15, 2018
Max supply: 100,000,000 VXD
Hard Cap: $23,800,000 USD
Delicate Cap: $2,500,000 USD
Value: 1 VXD = $1.00 USD
Acknowledges: ETH, BTC, XRP, LTC
Every single unsold token will be scorched.
Velix.ID: A proposed worldwide stage for frictionless personality check
With a plan to focus on this $200 billion market, Velix advances the possibility of a blockchain-based stage that empowers frictionless character confirmation around the world. The present techniques utilized for character confirmation includes huge monetary misfortunes for the two people and organizations while having extensive preparing time and in some cases even compromisation of individual data.
By utilizing the savvy contracts, Stellar accord convention (SCP), and zero-information proofs, Velix.ID intends to decentralize the procedure keeping in mind the end goal to manufacture a biological system that is decentralized, general and straightforward while being time and cost proficient.
Presently, the assessment time!!!
White paper-Why such huge numbers of specialized languages?
Velix.ID gives a significant nitty gritty whitepaper strolling a person through the situation, the issue, their answer and how precisely they need to accomplish this. Having said that, the whitepaper contains specialized language to a furthest point which is hard to build up the comprehension.
Discussing the reserve distribution, 45 percent from the deals will go to item improvement, 25 percent will be put aside for organization and showcasing, 20 percent will take care of the task expense, research will be assigned 5 percent while the rest of the 5 percent will go towards legitimate piece of the undertaking.
One of the point that undertaking needs in is the non-accessibility of the model. The model should be propelled by March 2018.
In spite of the fact that the organization is as of now taking a shot at its model and have the codes accessible on the GitHub, the Velix.ID ICO needs it prepared already to offer a substantive answer for its financial specialists. As per the site of the organization, it will come soon to the iOS App Store.
The Team-A decent one for ICO yet not so for the item a work in progress
A group of 11 individuals, it gloats of years of experience from various ventures that make them very unique.
Manav Singhal – CEO and Co-Founder, Having over 13 years of involvement in enterprise and initiative in different fields, Singhal harbors the aptitude, a senior official needs to have. He is additionally on the board at Blockchain Foundation of India that demonstrates his inclusion in the blockchain part.
Balwant Singh – CTO and Co-Founder, He has more than 10 years of involvement in versatile improvement, cloud stages, serverless engineering applications, building shrewd contracts, and composing DApps. Singh isn't new to blockchain world as while as of now at the National Australia Bank, he has been dealing with Ripple.
Guangling Yang – Blockchain Developer, He has an ordeal of 3+ years in its fields arrangement improvement, item outline and endeavor design. Yang is a full-stack designer and has practical experience in Digital Security arrangement plan.
The other colleagues have a place with activities, organizations, computerized advertising, advertising, speculation and back, outreach, KYC/AML and financial specialist relations.
All the colleagues of the undertaking have their LinkedIn joins appended that gives all the required data.
Accomplices: Velix.ID has a couple of accomplices to its names too viz. Blockchain Foundation India, Coinsecure, Bitxoxo, Bazista and WandX.
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Plan of action: An utility token
The VXD token of Velix.ID is an utility token that will give its clients the chance to benefit the item or administration of the organization later on. For this situation, the clients will have the capacity to utilize the VXD tokens to confirm and share the checked characters on an environment. Since the supply of VXD tokens is topped at 100 million, much the same as some other utility token, it is tradeable available which will develop with the stage.
Sponsorship innovation
The Velix.ID depends on the ethereum blockchain and consequently, at first, the clients will be allocated ERC20 standard VXD tokens. Once the stage is propelled, the holders will get the comparable number of VXD tokens that will be in the proportion of 1 VXD = 100,000 VELs, where VEL is the littler unit of VXD. All the unsold token from the crowdsale will be singed.
Crypto-deal flexibility
The organization hasn't shared the insights about its fuse, confined regions and the terms and conditions expressly. However, purportedly it is Singapore joined and limited in Singapore too.
The venture has around 8 specialists remaining as their consultants having skill in their particular fields viz. Tony Simonovsky (showcasing guide, CEO and Founder of Insight.to), Michael Fourgeaud ( venture counselor, CEO and Founder at PrimaBlock), Mohit Kalra (key consultant, CEO of Coinsecure), Prof Simon Choi (lawful consultant, establishing accomplice of Acme Ardent), Julian Smith (blockchain counselor, CEO of Blockfreight).
Token Distribution
The site of the organization gives a reasonable conveyance of the tokens. From the aggregate supply of 100 million tokens, 35 percent i.e. 35 million will be sold at private deal, presale, and crowdsale.
The group will be apportioned 16 percent of these tokens i.e. 16 million VXD. Out of these 16 million, 25 percent will go to originators that will be opened following a half year.
The group will get the 50 percent that will be opened like clockwork and the rest of the 25 percent goes to the guides that too will be opened following 3 months. A central issue check here is such a short opening time of assets for the originators, group, and counselors of the organization which ought to have been no less than a year.
The 4 percent of the tokens will go towards the group. 15 percent will be dispensed towards fates swarm deal which doesn't make a big deal about a sense while the rest of the 30 percent will be put into hold for future business accomplices. Altogether, 45 percent token will be secured which is one odd thing, without a doubt.
With respect to the security, the group will create an example of open/private keys that will be effectively moved down yet won't simple to figure. They additionally present the idea of the parent expanded key, a file and a kid broadened key for safety efforts.
Group acknowledgment
The organization is accessible on an assortment of channels viz. Twitter, Facebook, LinkedIn, YouTube, GitHub, Reddit, bitcoin talk, medium and furthermore through the mail. On Telegram, the organization has a decent 18,000+ individuals in its group. The group is entirely dynamic in advising its gathering of people and financial specialists about the most recent advancement in news and declarations about the undertaking. Velix.ID group has likewise been taking an interest in different occasions that work to support them and discusses their energy on the blockchain.
Guide
Phase of Project
The organization has a significant expanded rendition of its guide and is right now at it token deal stage set for April 2018. Notwithstanding, the MVP that must be propelled by January 2018 is around 3 months late. The organization is as of now taking a shot at it and has everything about on the GitHub, yet they truly need to pull their socks up and get on track.
Warning
The item as portrayed in the whitepaper isn't upheld by the pace of the improvement up until now. The site still says coming soon for its principle portable applications, which makes it clear that ICO would have appeared well and good after people in general arrival of the item.
A note to financial specialists
The organization has attempted a decent idea i.e. personality check to address. The decentralized stage is meant to be easy to use, straightforward and adaptable. Be that as it may,
While its site is a quality one that is profoundly useful, its whitepaper is loaded with specialized languages. A major dynamic group with a gathering of counselors, the venture holds potential.
Having said that, the undertaking is inadequate with regards to a model and that keeps from giving the task the approval it needs. A couple of more hiccups as far as a major piece i.e. 45 percent tokens secured up hold and future crowdsale and unclarity on the lawfulness points of interest, additionally influence the venture.
Our ICO Review Methodology
To rate an ICO, we take after a rundown of parameters that are essentially the KPIs (Key Performance Indicators) of an undertaking viz:
Whitepaper – Availability of code or model, the breakdown of assets, wallet for crowdsale
Group Profile – Team's quality and notoriety
Plan of action – Problem fathomed, reason and utility of the token and the financial model
Support Technology – Blockchain foundation, lucidity of terms and conditions and token programming
Crypto-deal Resilience – Incorporation, token dispersion, legitimate dangers and security viewpoint
Group Acceptance – Clarity and recurrence of correspondence and web-based social networking nearness
By asking the correct inquiries, we keep up the respectability and feasibility of our ICO audit while following a rating strategy that depends on the criticality of a specific factor. For example, components like token utility and assets breakdown have been given the most elevated significance while the group m
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FACEBOOK- https://www.facebook.com/VXDID/
GITHUB- https://github.com/velix-id
REDDIT- https://www.reddit.com/r/VelixID/
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