The Concourse Open Community keeps scouring the ICO space and publishing its findings at ConcourseQ. As always, we’re here to share the most terrible ICOs with the community on Terrible Token Tuesday! And don’t forget — anybody can contribute research!

We’re also #buidling several interesting (non-terrible, we hope) projects in the space. Check out our Discord for more on our very active community.

The most terrible projects for this installment of TTT are:

Clarity — https://concourseq.io/Q/Clarity

Clarity is our featured ICO for this Terrible Token Tuesday. Clarity boasts that it was runner up in the “ICO World Cup pitch competition,” which tells us more about that competition than it does about Clarity. If you want to know more about these almost-world-champions-of-nonsense, just click on!

Bitcademy Football — https://concourseq.io/Q/Bitcademy_Football

Some Bitcointalk users have accused Bitcademy of stealing their money. We can’t confirm those comments, but we found plenty of reasons to steer clear even if the project isn’t a straight scam. Despite talk and promises, there’s no real substance yet. And we can’t really even tell who’s behind Bitcademy, not to mention whether they can carry out their plans.

Menapay — https://concourseq.io/Q/Menapay

Menapay wants to convince us (and probably regulators) that it’s issuing a utility token, but the token’s profit-sharing mechanism seems sure to raise regulatory eyebrows. Even so, we might’ve given the project a pass if it had an MVP or some other sign of development. But we checked, and the project’s Github remains totally empty..

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SharkGate — SharkGate — https://concourseq.io/Q/SharkGate

SharkGate relies heavy on fear-mongering to push its useless cyber-security blockchain. Even if the end really is near (it probably isn’t), we don’t how tokenizing the fight against cybercrime makes sense, even if SharkGate throws in a pinch of AI and several heavyweight “clients” and “partnerships.”

Mycro — https://concourseq.io/Q/Mycro

Mycro is a latecomer to the sharing economy. And based on the project’s inability to execute an ICO on time, we doubt it’ll manage to catch up with its stiff competition. But timely shipping is just the start of the issues — Mycro has no engineering talent capable of driving the project forward or even starting to fill up its Github with useful code.

Announcement: 🐿 DEX.AG 🐿

DEX.AG lets you instantly compare prices across decentralized exchanges. It might take some time for DEXes to flip the script on centralized exchanges, but DEX.AG wants to help speed things up by letting all DEXes fight as one.

The Concourse Open Community is building a lot of cool stuff. Join us on Discord — https://discord.gg/22E3YvP — to find out about our projects and how you can get involved!

And now some previously featured really terrible projects:

If you think Paragon and its recent SEC trouble was bad, think again! Aside from concerns about the token (ridiculous use case — backed by cannabis extracts), production partner (obscure company says its a verified supplier in Colombia, where drug-related corruption is unheard of 🙄), and regulatory approach, we’ve no clue how its founder can drive the startup to success while juggling 8 jobs on 3 continents. The project’s best decision was the recent postponement of its ICO. Congratulations on that!

Stackr’s team is filled with part-timers — some work on multiple projects, others have unverifiable work experience. Also, this project looks a lot like a needless blockchainized version of the founder’s other project, “Sanlam Global Investment Solutions,” which you’ve never heard of. But we’re most struck by the question of how a tech startup with 13 advisors can succeed without a single full-time engineer with verifiable experience. Pretty sure we know the answer.

Instantsponsor appears to’ve been around since as early as 2010 without having made meaningful traction. So who can blame them for a little blockchain rebranding? We can. The project’s value proposition and whitepaper seem positioned toward big corporations and brands, yet Instantsponsor’s holding a public ICO open to retail investors with no use for the tokens being sold. Not that anybody has a real use for these tokens — they can be bypassed by fiat on the platform.

AvailCom is offering some misleading (or maybe just false) metrics. The project claims to have raised more than $400K, but the total value received by the contract address is a lot closer to zero. That’s hardly surprising, though — the team has no experience in relevant markets, their supposed prototype is barely more than a slideshow, and the project’s GitHub is almost completely empty. At least . . . never mind.

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AIDUS is seriously contemplating a $1 Billion post-ICO valuation for a fund that offers — instead of any real substance or investment thesis — some algorithmic quant mumbo jumbo and promises of huge yields it says were certified by some obscure law firm (there’s even a “CERTIFIED” stamp!). Even if any of this were acceptable, we’d still have serious doubts about a project whose team is bloated by needless employees and advisors, including a “leadership team” whose members don’t even mention the project on LinkedIn.

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Alluma might get the prize for Worst Exchange Ever. Of course, building any exchange at all seems like a huge stretch for a team that can’t even create a price banner that updates with correct crypto prices. Still, we registered an account to try to give them a second chance. That’ll be hard to do, though — they never sent us a confirmation email!

Announcement: 🌜🏎 TRADE or DAI Preseason is live! 🏎🌛

TRADE or DAI is a free, fun, and simple social trading competition that lives on Settle. Preseason started yesterday + runs for a week; it’s kind of a public beta where we hope to get some good feedback — especially from our r/ethtrader family — to perfect the game and gear up for Season 1. There’s never real money at risk, but Season 1 will involve actual cash (i.e., Dai) prizes. TRADE or DAI’s all about friendly competition and strengthening our Ethereum community! https://www.tradeordai.com/

The Concourse Open Community is building a lot of cool stuff. Join us on Discord — https://discord.gg/22E3YvP — to find out about our projects and how you can get involved!

Thanks!

The ConcourseQ team would like to thank everybody that helped on these DDs and all the others! If you want to join our community, meet us on our Discord: https://discord.gg/22E3YvP

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