An expert review of the ICO project that is critical, informative, direct and useful for investors, users and blockchain enthusiasts.
This week we are presenting the Vertex project, a platform for ICOs and investors, where investors trade various tokens before entering a cryptocurrency exchange.
How does it work and who needs it?
The whitepaper of Vertex project presents itself as the secondary market that allows OTC (over the counter) peer-to-peer trades equally between institutional investors and the community. Any kind of tokenized digital assets can be bought and sold there.
The project idea came from the Vertex Capital partners, which are presented as experienced investors, venture capitalists, and businessmen.
The Vertex model is intended for investors, ICOs, STOs and cryptocurrencies as a whole. The team will evaluate each token before it is proposed on the Vertex.Market - a place where digital assets will be presented and an investment expert will conduct due diligence.
Unlike ordinary cryptocurrency exchanges, the platform will not use an orderly book, sales orders will be made in bulk at a fixed price without leading to price manipulation. The offering will be closed right after the selling of supply.
At the moment the project aims to attract about one million users to the platform.
The whitepaper of Vertex project presents itself as the secondary market that allows OTC (over the counter) peer-to-peer trades equally between institutional investors and the community. Any kind of tokenized digital assets can be bought and sold there.
The project idea came from the Vertex Capital partners, which are presented as experienced investors, venture capitalists, and businessmen.
The Vertex model is intended for investors, ICOs, STOs and cryptocurrencies as a whole. The team will evaluate each token before it is proposed on the Vertex.Market - a place where digital assets will be presented and an investment expert will conduct due diligence.
Unlike ordinary cryptocurrency exchanges, the platform will not use an orderly book, sales orders will be made in bulk at a fixed price without leading to price manipulation. The offering will be closed right after the selling of supply.
At the moment the project aims to attract about one million users to the platform.
The project leaves a lot of questions, too. For example, it is completely incomprehensible what the project wants, why an audience of one million users will be sufficient for the project to work, and, the most important, if the project creators are venture capitalists, why do they conduct ICO?
And where is the technology?
The team claims that Vertex is a hybrid solution, meaning that it uses centralized elements and decentralized ones (when it comes to managing user funds). Vertex.Market doesn’t store any user funds on the platform, and the VTEX token can remain in any user’s wallet.
And here comes the most important phrase of all the whitepaper, removing any question:
And here is what shows the respected source Github:
It wouldn’t be excessive to say that according to the roadmap, developers planned to launch the alpha version of the platform on October 29 of this year, but now it's November, and we still see no release or any news.
All about token and crowdfunding
VTEX token is Ethereum’s ERC-20 token. According to the team after an ICO all tokens will be transferred to another platform (which is not defined), such as Rchain and EOS. The total amount of tokens is 300,000,000.
Sixty percent of all tokens will be sold during the token sale, the team and investors will have 15%, 12% is a strategic reserve and won't be burned and won’t be put into circulation at the moment. Five percent goes to the bounty campaign.
The public sale will be open for five months, starting October 1 and ending in the second quarter of 2019 until all will be sold. The minimum payment for participants is $50.
Social activity
This is where the project can be praised. The project focuses on its Twitter account, where it is quite active and has more than 20 thousand subscribers (of course, there is no guarantee that these are real subscribers), Bitcointalk and articles in online sources.
To be true, not all articles are available, possibly due to the statute of limitations.
The project is also listed in various rating agencies like ICOBench, Trackico, ICOMarks where it has rather positive ratings.
But is an attractive cover more important when there is nothing behind it? It’s up to the investors and users to believe or not in the project and it seems like they do, because the soft cap has already been overcome.
Click here to visit Vertex page in the list of our ongoing ICOs.