ICO Analysis: OneLedger | Hacked.com

April 28, 2018
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OneLedger is an universal blockchain protocol, which provides inter-network exchange for successful business integration. They support several blockchain in their ecosystem.

The goal of OneLedger is to connect different blockchains and get the opportunity to take advantage of each of them.

OneLedger will support cross-exchanges and use a system of sharding as well as a sidechain, so that network performance and transaction speed will be extremely high. One option is to build a decentralized exchange with fast transactions. For example, user wants to trade Litecoin pair to Dogecoin (Within the OneLedger network). This will create a sidechain for processing operations and will not affect on the performance of the main chain.

The system of sharding is planned to be used by Zilliqa, Telegram and Ethereum.

Other cases of using OneLedger:

  • Ability to use and transfer DApp applications
  • Providing cross-chain and consensus on the OneLedger protocol
  • The ability to communicate DApps over the OneLedger protocol
  • Processes transparency and traceability through the marking of business flows
  • Assistance to enterprises and individuals with AI support and stream optimization

There are several competitors in the space. Main competitors are Cosmos, Aion, and OverLedger. Those blockchains are all competing to bind together existing chains into a massive single entity.

Cosmos is a generalized solution, while OneLedger is a specialized solution that is meant to bridge the centralized world with the decentralized one. Basically Cosmos will let tokens flow from one chain to another, OneLedger will focus on ensuring that actions performed on different chains will be synchronized

Aion connects public and private blockchains but explicitly requires that they integrate its protocol.

On the other hand , OneLedger has channel consensus that will enable private chains as well as side chains that correspond to other blockchains.

If one can compare Oneldger to Overledger, than on OverLedger the development of dApps must be decentralized while on OneLedger it does not have to be.

Thus on the bottom line Overledger offers a gateway solution for blockchains.

Project can take its own niche. Market potential for such project is promising. Every other projects in this field have market capitalization higher than 200 million usd.

Token

Project has following token metrics:

  • Token supply: 100 million OLT
  • Softcap: 4 million USD
  • Hardcap: 15 million USD
  • Seed round: 1 million USD, vesting period of 6 months with monthly cliffs for the bonus, implemented in smart contracts
  • Private presale I: 6 million USD (bonus 25%)
  • Private presale II: 3 million USD (bonus 20%)
  • Public sale: 5 million USD

One can see that project has a reasonable soft cap and hard cap. As per existing data, project has already collected 10 million USD during its seed and pre-sale rounds.

Token distribution is the following:

  • Community reserve: locked for a minimum of 6 months in smart contracts, and followed by 1 to 2+ years vesting schedule for the long-term benefit of the community.
  • Team reserve: vesting period of 24 months with quarterly cliffs implemented in smart contracts
  • Advisors reserve: vesting period of 12 months with monthly cliffs implemented in smart contracts
  • Company reserve: locked for the first 6 months and followed by a vesting period of 18 months with monthly cliffs implemented in smart contracts.
  • Marketing and long-term partners: vesting period of 3 to 6 months with monthly cliffs for marketing reserve. A minimum of 6 months lock-up period followed with a 1 to 2+ years vesting period target for long-term partners. All vesting and lock-up periods implemented in smart contracts.

OneLedger allocates 35% of the total token supply for the token sale. It also has implemented various vesting periods and lock-ups in order to avoid risks of token price dump after listing on the exchanges.

From tokeneconomics perspective there is a strong case as well.

Each OLT token will initially be mapped to one corresponding ERC20 token so early adopters of OLT can use them on Ethereum ecosystem as the OneLedger ecosystem is being developed.

As the OneLedger ecosystem matures, there are three major participants in the OneLedger token economics: users, network supporters (nodes), and developers.

OneLedger will also build a marketplace, which is a decentralized application on OneLedger platform.

Users : Users, including businesses, need to pay a network fee to nodes to use any services on the OneLedger platform. They can either acquire OLT tokens from other token holders, or they can run a node themselves to start acquiring tokens to reuse for business use cases. Users might need to pay OLT tokens to access services sold in the marketplace based on the distribution smart contract set by the developers. Network Supporters (Nodes) Network supporters (nodes) will receive OLT tokens as network fees. In the early phase, OneLedger’s software will allow everyone to run a node. After a period of time, a staking amount may be established to ensure commitment and quality of the network.

Developers  : Developers will range from individual contributors, to enterprise teams, to consulting firms. Developers need OLT tokens to deploy their modules to OneLedger platform. They can submit modules and code to OneLedger Marketplace with a smart contract that defines the terms of sale. For instance, these services can be free, users need to pay developers a one-time fee to unlock the service, or developers can even implement the smart contract as a subscription business model so users will need to pay OLT tokens monthly to keep accessing the services. Additionally, OneLedger will give a development grant to the best developers and most qualified projects by leveraging the 25% of tokens reserved for the community.

Team

The team behind Oneledger brings relevant experience in the blockchain protocol and consensus algorithm development, high-performance computing, information security, cloud computing and business intelligence.

David Cao – CEO of one ledger, chairman of the Canadian-China-Professional Blockchain Association, has over 13 years of cumulative experience in blockchain technology and enterprise architecture. Has a 19 years of experience in IT, notably IBM (developer – 2.5 years) and Xerox (the leading commercial consultant – 5 years).

Alex Todd – CTA of Oneledger is a Founder and CEO of Trust 2 Pay  and former Chief Technology Officer (CTO) of  PRESTO.

Stephen LiLead Engineer of OneLedger, The developer of blockchain and smart contracts with 15 years of experience as a developer, including well-known companies – NEC (3 years), Microsoft (1 year), IBM (3.5 years), Morgan Stanley (1 year).

One ledger has also a strong advisory board, with notable names such as :

Matthew Niemerg IBM Center of Excellence Post-doctoral Fellow in High Performance Computing, 

Trevor KoverkoCEO at Polymath,

Jor LawCo-founder of VerifyInvestor.com and founding shareholder of Homeier Law PC.

Verdict

OneLedger is a universal solution – a platform for DApp applications; Universal identification system and its management; The ability to connect any blockchains and interact between them within the OneLedger by cross-chain; Scalability using sharding; Possibility of using sidechains; Service for programming; Multiplatform. A serious team, strong advisers and partners. The closest competitors have some disadvantages compared to OneLedger, and also a much higher capitalization. Considering all it can be concluded that the project is a good option for investment. Main concern should lie with absence of MVP, which team promised to deploy in Q2 2018 as per their Road map. Depending on successful execution, grading could higher or lower.

Risks

  • Competitors in the space (-1)
  • MVP is not yet available (-2)
  • Development will take quite a bit of time as Alpha version of the platform planned for Q3-Q4 2018. (-2)

Growth Opportunity

  • Market for the product is substantial and in high demand for such solution as OneLedger. (+2)
  • Projects defines competitors and has competitive advantages over them. (+2)
  • Small cap and good token metrics (+3)
  • Strong team and advisory board with high level experience and competence that has all chances to execute such project(+3)
  • There is quite a high hype level. Project has already collected 10 million of its 15 million usd hard cap. (+2)

Disposition

A serious team, strong advisers and partners. The closest competitors have some disadvantages compared to OneLedger, but nevertheless have high market capitalization . Considering all it can be concluded that the project is a good option for investment.  OneLedger receives a total score of +7 out of 10.

Investment Details

  • Type: Utility
  • Symbol: OLT
  • Platform: Ethereum/Own platform
  • Crowdsale: May
  • Minimum Investment:
  • Price: 1 OLT = $ 0.52
  • Hard Cap: 15 million
  • Restrictions Barred from Participating: USA, Canada, South Korea, China and other FATF countries.

General details:

Telegram: https://t.me/oneledger

GitHub: https://github.com/Oneledger/

Twitter: https://twitter.com/OneLedgerTech

Email: hello@oneledger.io

Medium: https://medium.com/@OneLedger

Reddit: https://www.reddit.com/r/OneLedger/

Linkedin: https://www.linkedin.com/company/27226077/

Featured image courtesy of Shutterstock. 





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