Based on the characteristics of the Ideal Money published by mathematical genius John Nash, Fragments was designed for the purpose of creating a fair and stable currency for the world.

1.The idea of technology

Today, Bitcoin is considered a good reserve currency but is not used as a trading currency for a variety of reasons, such as confidentiality, transparency, legitimacy, volatility,etc. Volatility depends on price and market sentiment is one of the main causes. While cash types such as USD are suitable for trading, they are easy to lose value when inflation occurs.

Thus, the Fragments team that has found the idea about ideal money which is created by mathematical genius John Nash who has set the goal of creating a fair and stable currency for the world to solve the problem above. With the Fragments protocol, currencies not only conserve short and long term values, they also guarantee both spending and storage. The first target that team is aiming is USD, creating a token called USD Fragments.

Firstly, Fragments acts as a means of exchange just like today's stable coins, such as the current USDT. The short-term value of this currency is in the sense of being able to spend, meaning a $ 1 Fragments is worth approximately $1. USD Fragments is price-targeted to the USD.

The highlights of Fragments, when it is compared to other cryptocurrencies, lie in the long-term value of this currency, reflect its storageability and monetary supply policies. When there are market fluctuations, the Fragments protocol will increase or decrease the supply of the token to balance the market as following:

When the protocol needs to increase the supply, Fragments will allocate the reserve and then perform the decomposition step, and divide the token into the wallets to ensure that the token amount is equivalent to the token value, maintaining one token worth approximately 1 USD.

It is possible to see the illustrated examples given by Team for better understanding.

Suppose that Alice initially holds a token corresponding to $ 1. However, after the doubling of the bid, Alice's token value has increased to $ 2, which means that Alice owns $ 2. So the task of Fragments is to divide a token into Alice's wallet to ensure that each token is always worth $ 1.

When it is necessary to decrease the supply, Fragments will re-purchase tokens available on the market through bonds. This bond has no currency value, which each bond will correspond to a certain amount of USD Fragments. USD Fragments Bonds are a secondary asset used to maintain the stability of USD Fragments. Bonds aren’t price-targeted. They’re primarily used by the Fragments reserve to facilitate contraction. Each bond allows the holder to receive a USD Fragments in the future in exchange for removing tokens from the current supply today.

USD Fragments is type ERC20 and runs on Ethereum blockchain. They’ll have an auditable reserve and an auditable supply policy.

Fragments emphasizes all of the following benefits:

Spendable near-term storage, as $1 USD Fragments is always worth approximately $1 USD.

Holdable long-term storage, as holders are rewarded with increased reserves over time; the value of each token stays roughly the same, but you have a growing number of tokens.

A splitting currency where inflation and deflation do not cause gains or losses for investors, but investors can experience increased or decreased purchasing power.

Uncorrelated with major coins; in today’s cryptocurrency markets, coins tend to rise and fall simultaneously, but Fragments will be unrelated because traders retreat into stable currencies when cryptocurrency prices dip, adding diversity to the ecosystem and allowing traders to hedge.

2.Development team

Technical team

Evan Kuo - Engineer / Product: co-fouder Fragments, Evan is an entrepreneur and math lover. He was previously the CEO of Pythagoras Pizza, and has extensive experience developing predictive auction products and working with venture capital. Evan holds a BS from UC Berkeley, where he studied a mix of ME & CS with research focused in Robotics. Kuo first revealed he was working on the Fragments project back in September 2017, although they were originally envisioned as tokens for the gig economy. Now, the company has pivoted to offer a stablecoin.

Brandon Iles - Engineer / Architecture: Brandon spent over 5 years in Google's Search Ranking and Machine Intelligence groups and later worked in Uber's Ranking and Relevance team. He loves the intersection of Systems, Data, and Intelligence. He holds a BS and MS in Computer Science from Rice University.

Ahmed Naguib Aly - Engineer / Backend: Previously at Google, Ahmed spent over five years as a Software Engineer in the Search Indexing and Search Ranking groups. His passion for coding and algorithms began with competitive programming in high school and he holds a Bronze Medal in the International Olympiad in Informatics. Ahmed has a BS in Computer Engineering from AAST in Alexandria, Egypt.

Aditya Sarawgi - Engineer / Backend: Previously at Uber, Aditya began developing the end-to-end surge pricing system and later started the place search project with autocomplete, destination prediction, and current location prediction. Eventually he moved into advanced technology research to generalize Uber's multi-modal robotic perception networks. Aditya has an MS in CS from Stony Brook and a BE in Eletronics and Telecom from the University of Mumbai.

Nithin Krishna - Engineer / Backend: Previously at USC, Nithin was a research engineer at the IRDS/IMSC labs where he worked on applying machine learning to big data problems like traffic prediction, recommender systems, content analysis and text mining. His Master's thesis focused on developing novel algorithms to protect user friendships from location data. Nithin holds an MS Research degree in Computer Science, from USC.

Jessica Yen - Branding / Operations: Jessica formerly co-founded Pythagoras Pizza and loves working at the intersection of technology and the humanities. She holds an MFA in creative writing and a BA from UCLA.

The Fragments team consists of six members, including five engineers with experience in the field of engineering, computer science, and so on. They have worked with well-known companies such as Google, Uber, etc. But overall they are not. He is experienced in blockchain or pre-coding. This will give investors some hesitation in the quality of the group. However, this is still very much dependent on the test results that the Group promised to publish soon.

Advisory team

Joey Krug: Co-Investment Director of Pantera Capital and co-founder of Augur.

Noah Jessop: venture capitalist of Founder Collective.

Michael Karnjanaprakorn: Founder of Turing Capital and Skillshare.

Paul Veradittakit: Investor of Pantera Capital.

Sam Lessin: co-founder of Fin, deputy director of Product Management.

3.Communication channels

Telegram (2200+ members): https://t.me/Fragmentsprotocol

Twitter (230+ followers): https://twitter.com/Fragmentsorg

Medium (100+ followers): https://medium.com/Fragments-protocol-blog

Facebook (100+ likes): https://www.facebook.com/FragmentsProtocol/

The Fragments project has been launched since March 2018. It can be seen that up to this point level hype of the project is not really high. Although interactive level in the telegram channel of the project is quite good, but overall, it has not attracted much attention.

4.Investment fund

Up to now, the project Fragments has received investment of up to 3 million from 5 major investors. For example, Pantera Capital has invested in many large cryptocurrency projects such as Ripple, Basis.

5.Road map

At present, project Fragments is focusing on developing Testnet at the auction stage. The team also promises to announce the results soon. Roadmap in the project is still very general. Detailed information on specific work or specific time of each stage has not been presented. This will make investors feel uncertain about the progress or direction of the group.

In addition, the Fragments team offers a long-term development roadmap with foresight. In the first step, the goal of the team is to create a token of dollars that can be spent and stored for pre-coded traders. After that, the Team promises to provide a stable Fragments platform service for developers in developing future utility tokens. And the biggest goal that the Fragments team is aiming for is creating a super-stable basket for customers to keep their tokens free of cash.

6.Evaluation

Strengths and opportunities

Operating on a volatile currency market, Fragments' idea is good in stablecoins, Fragments is confident that USD Fragments can completely replace the USDT, because it has its remarkable strength and its own self-replicating reserves with price stabilization mechanism. While the value of the dollar is still dependent on the real value of the dollar, the goal of the group is to create low-volatility tokens. $ 1 Fragments is always worth about $ 1, and the volatility is no longer in the token value that is transferred to the token hold. Fragments will control the price by expanding or contracting the supply of tokens.

Long-term vision of the team is also appreciated when they want to create cryptocurrency market which is completely independent of the cash market. Perhaps this is the bright spot when it attracts everyone's attention. At present, Fragments is only at the first step of phase I, but it is clear that Fragments set goals unceasingly for further development in the future. This is probably a plus for unrestricted Fragments. It’s a unique and well thought-out system that could change the way we approach stablecoins.

Weaknesses and challenges

The Fragments project is still in its early stages and is just under construction Testnet. Although the idea of team is good and potential, there is still too much information to evaluate and let investors consider their intentions to move forward.

In addition, the stablecoins market is also quite diverse, with big guys like Tether USDT or TrueCoin. Fragments' protocol can be completely replaced, or if the big guys integrate new features, the path of the team may be difficult.

Not only that, Fragments's idea of a non-collateral currency is similar to Basis's or Carbon Money's policy of extending or shrinking capital to control value. The difference lies in the composition of the mortgage mechanism.

In short, creating a truly stable cryptocurrency is a necessity to reduce volatility and exploit the undiscovered features. If Fragments successfully achieve the goal of the team is to create an ideal cryptocurrency and solve the problem of the money market, that will really be a big step forward. However, it still takes a long time to see how Fragments will actually work.

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Source: Icogens.com