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idap.io intents to provide users complete access to cryptocurrency derivatives i.e. Futures, Swaps, and Options. The platform will incorporate its own trading platform and marketplace. along with margin lending, crypto indices derivatives, and perpetual swaps. IDAP tokens are utility tokens used to pay transaction fees in the idap ecosystem.



The whitepaper is comprehensive and discuss features of the platform. The problem statement is briefly discussed. Though I am of opinion that it lacks at technical aspects. The business model and token economics are explained succinctly. Github page is mentioned which contains repositories for token smart contracts and the whitelist. Legal content is available, through in brief. Whitepaper is well written and thorough.



The current stage of development of the platform is not clear. And there are only video demonstrations of the product available on website. The company GitHub page doesn’t reflect any development on side of product and it only contains token smart contracts and the whitelist.



The revenue stream of business model, as per whitepaper, primarily consists of receiving commission as income from trading and as management fees. Token economics are outlined specifically. Though business model falls short when it comes to listing key elements.



It is also stated that 20% of all tokens received from platform fees will be burned until the total token supply is halved from 1 billion to 500 million IDAP. Token allocation is presented with moderate levels of detail.

Why Blockchain? There is a lack of technical discussion. No concrete para can be found on technical aspects of the platform and use of blockchain. For example, it is stated that the “exchange platform will be hosted on high availability IT infrastructure, thus, enabling fault-tolerant architecture with guaranteed 99.995 percent uptime”. The exchange platform architecture is not discussed in depth. The exchange itself does not seem to utilize blockchain technology. The platform does not provide innovation from a blockchain technology perspective.



Legally, they have provided sufficient information and have uploaded licenses obtained for crypto-fiat and crypto wallet from appropriate authority, Government of Estonia.



The roadmap is presented on the company website is in tandem with the present time. There is a sufficient amount of business and technology focused milestones which align with the written content (regarding the development plan) that is in the whitepaper. I have found it simple, clear and sufficient.

The platform is targeted towards traders and investors, as customer base, that would like to enter cryptocurrency markets specifically for derivatives. Which is a USP of business and a potential market segment. Though the whitepaper lacks competitive analysis with existing players and market assessment. It doesn’t mention sufficiently about market stats. A SWOT analysis may have helped. Also the whitepaper is silent about business being specific to any targeted market, jurisdiction wise, which per se needs clarity.



There are several blockchain-focused projects which are direct competitors like VariabL, BBOD, Fortuna, WandX, Leverj, Close Cross, EverMarkets, Digitex, Globitex, Betex, Lucid Exchange, QUEDEX and more.



According to the company LinkedIn profile, the organization is founded lately in 2018 and is a privately held company located at Tallinn, Harju County. It is stated in the whitepaper that IDAP will begin operations in the European Union. Nothing has been stated about funding, if in case, in the whitepaper and website.



The main team consists of professionals is mentioned over website along with good list of advisors. The team is technologically very sound and hail from premiere institutes of country. I have found team sufficiently experienced and capable of execution. Prior experience of team members and experts is aligned to nature of project. Though I have founded few blockchain developers and team is skewed towards finance and business management.



Notable partnerships with investing.com, Stigasoft, GetSmart,3Apples, are visible on company website.



Conclusion



Idap.io has significant presence in Indian market as team hail from India. Though they may not take significant advantages of same due to regulatory barrier and framework in country. Cryptocurrency market, especially derivatives, has great business potential and team seems to be pulling it right till date. Team has adequate experience and expertise to execute as planned. Whitepaper is comprehensive, clear but lacks on technological side. Also I have found nothing about financial projections on business side, in whitepaper. In my opinion, every business should present, separately, a financial paper that helps investors understand how much and when they should expect ROI and not be dependent upon exchange listing solely. Use of blockchain in whole business model is dim but crypto trading businesses, in my opinion, cannot be compared explicitly to tech businesses. All the best to team.



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