ICO Analysis: Feast Coin
Feast Coin is a decentralized currency and app you can use to order from your favorite take-out and/or delivery restaurant. With Feast Coin you can pay using your cryptocurrency without having to first turn it into fiat or using a crypto credit card. Feast Coin is built on the Waves platform.
Feast Coin features a loyalty program where you will be rewarded a Feast Coin bonus every time you order through the app. You can use this loyalty bonus to accumulate other cryptocurrencies such as Bitcoin from an exchange.
In addition to your loyalty bonus you will also receive a discount on the regular price of your order when using Feast Coin for payment.
Vendors will also recieve benefits for partnering with the app and processing these orders. KFC, Pizza Hut and Dominoe's Pizza have already agreed to be listed on the app.
Feast Coin will have a total supply of 120,000,000 FSC tokens with 60,000,000 slotted for the ICO.
The review from Hacked.com gave this Canadian startup a bad score:
Published 8 hours ago on January 21, 2018
By Alex Moskov
The Verdict
There doesn’t seem to be a point to this ICO. The whitepaper includes no technical specifications and the use-case for the Feast Coin token is a stretch, to put it nicely.Shrouding the team in mystery only furthers my suspicions. The lack of any real plan in their whitepaper and limited information on their website should be major red flags.
Disposition
Feast Coin earns a -7 out of 10. If it hasn’t been clear by now given the information provided by the website and the whitepaper, you should probably avoid contributing to this ICO. As always, though, do your own research and make an informed decision yourself.
I personally have a much more optimistic opinion of this project but I do see the concerns they have. I do not recommend getting involved at ICO stage but using the app and maybe even accumulating the coin as it hits the exchanges sounds like a great idea.