In this piece, I do a quick and dirty review of the Yggdrash ICO.

Please note that I am not a financial advisor and this is not a financial advice. This is just my opinion and the project discussed here could perform better or worse than my expectations. ICOs are risky business and if you do plan on investing in any ICO; I strongly suggest consulting your financial advisor.

I am not paid or sponsored to carry-out this analysis.

Analysis explained:

In my analysis I look at 6 things;

1) Concept/including the whitepaper

2) Whether the company has a Minimum Viable Product (MVP)?

3) What is the sentiment like on social mentions, this is not the hype, but I analyze the strength of comments if any; across all their social media platforms, positive sentiments, negative sentiments. Passion of the comments and the reach of social mentions.

4) The team.

5) The road map; and

6) Token economics.

The maximum score that any ICO could receive is 10; whilst the lowest is zero.

The score for concept ranges from a maximum of 3 for an excellent concept to a score of zero for a poor concept.

On MVP a score of 1 for the ICO having an MVP and zero for no MVP.

For social mentions a maximum of 1 point with lowest of zero.

On the team, an excellent team gets a score of 3, a good team gets a score of 1, and poor team gets a score of zero.

An excellent and achievable road map gets a score of 1; a good road map gets a score of 0.5; and a poor road map gets a score of zero.

Finally, the score of token economics ranges from 1 for an excellent; to zero for a poor token economics.

Please note that I am not an expert (in the ICO space by any means) and the scoring matrix is just my opinion. Kindly do your own research before contributing to any ICO.

In my opinion a project that scores 7 and above is worth analysing a bit more; if we feel we are interested in contributing to it. A score between 4 and 6 would require a lot more convincing; for me to invest; and a score below 4 is an easy pass.

The name Yggdrash sound tad bit difficult, nonetheless exotic. Depending on how people respond to it, the team might look into changing this name down the line. From Yggdrash’s one-pager I understand that it’s a play on words. Yggdrasil which is a huge mythical tree; that connects wells of the world and locations from the underground, to the heaven; and the hash for block-chain transaction and network. Making Yggdrash.

1) Concept:

Yggdrash describes itself as a trust-based multidimensional block-chain ecosystem, where each branch is governed by reputation to ensure integrity. It’s a third-generation block-chain platform offering support for dApps, decentralized exchange, remittances, and Decentralized autonomous organizations.

So quickly, Bitcoin is the first-generation block-chain. Ethereum and the likes which have smart-contracts is a second-generation block-chain, whilst Cardano and similar projects, which offers more than smart-contracts are a third-generation block-chain.

What Yggdrash want to achieve is improved data capacity, speed, and expandability. They aim to have zero network fee, and instead there will be a scoring system based on reputation. They also aim to reduces efforts preparing node; and shorten delay form several days to less than an hour; which is days for Bitcoin and Ethereum currently. Yggdrash plans to achieve this by minimizing the block data. This sounds like a challenge, but if achieved that will put Yggdrash in a much better place.

Yggdrash is also working on business cases in Decentralized Exchange Platform and Remittance. The Yddrash founders who have experience on Coinone and Bithumb should be able to help the team on this.

Yggdrash is designed to provide economic incentives to all participants in blockchain ecosystem. It aims to create a transparent, fair, and reasonable blockchain ecosystem for all network participants, rather than to create monopoly environment by someone with wealth and power.

I believe ICON will be their main competitor however ICON has a head-start. Having said that, Yggdrash seems to be different from ICON and other competitors by way of reputation scoring and the delegated proof of authority consensus system that they plan to use.

Based on this analysis, I believe Yggdrash to have a solid concept and give them a score of 3.

2) MVP:

I don’t believe there to be a minimum viable product, and therefore they get a score of zero.

3) Social Mentions:

On social mentions, for which I use google algorithm, Yggdrash gets a score of 0.5, which in my opinion is a good score; considering the time when I carried out the search.

4) Team:

The Yggdrash team in my opinion is a fantastic team, which the right experience and a great fit. Although there is a FUD around it, and negative press by ICON but any sort of marketing is good marketing and will hopefully benefit Yggdrash. The CTO and Co-Founder of Yggdrash, Peter Ryu, previously developed LoopChain, which is the blockchain engine utilized by ICON. A few of the other members have worked previously with Bithumb and Coinone. For that reason the team gets a score of 3.

5) Road map:

In my opinion the road-map isn’t fantastic. Tokens will be distributed in May 2018 if the ICO happens at the end of March 2018. Test-net is planned to be released in Q3 of 2018 while the main-net is expected to be released in Q2 of 2019. Not sure if they will be in the right position to catch-up to ICON by that time. For that reason, I give them a score of zero.

6) Token Economics:

The purpose of the token is to connect all blockchains using a Trust-based Multi-dimensional blockchain. Yggdrash hopes to redesign all services on the Internet into a blockchain platform. Their plan is to use what they call Branch Chains; similar to the side chains that 0-chain plan to use. Each dApp uses its own branch chain in the system. Yeed, the currency of Yggdrash ecosystem, is one of the tools used to maintain its network while it works as a means of transaction; however, the biggest reason of existence is to connect and maintain a large number of blockchain networks connected to the Yggdrash network; In addition, for other users to connect their branch chain to the main chain.

I think the token-economics are fairly ok and therefore they get a score of 0.5.

On searching for ICO hits for MLM, Scams and cons, I came across a due diligence inquiry by a web-user where they have taken-up the issue of Yggdrash being registered in Singapore; however, no record of Yggdrash being listed there. In my opinion this could still be in the works or perhaps registered under a slightly different name, as we are still a month ahead of the ICO, I do not believe this to be a major concern. However, you are requested to kindly do your own research.

Conclusion:

Overall the Yggdrash ICO gets a total score of 7, which is an excellent score and I believe the project should be analyzed in a bit more detail by yourself if you wanted to invest in it. I wish the ICO team and its supporters a very best of luck. Even though they have a lot of FUD around the project team and the road-map, I believe it has a great potential, provided the team achieves what they claim to.

Happy investing!

PS: Ignore the picture at the top, it’s got nothing to do with the project!