CardStack ICO review ($CARD) - 5 min read

in cryptocurrency •  last year

A massive, extremely ambitious and complex project. This might seem “too ambitious”, trying to do too many things. However, CardStack has a high quality white paper, some big names in the team, an oversubscribed pre-allocation, a very big Telegram group, and a clear communication. Some weak points: undisclosed advisory team, undisclosed full-time team members, and lack of media coverage.

This is not financial advice, do your due diligence before investing. And mind the scammers: they are particularly active in the field of ICOs.

Methodology used when creating this report


  • Every article published using this "5min read" format is answering a very specific list of questions.
  • The list of questions does evolve slightly from one article to another, but stays 90% the same to allow easier read and comparison between projects.
  • If the answer regarding a given question isn't available on the project's publications (website, white paper, blog, etc) and isn't answered by the team when asked on its Telegram Group Chat (i.e. the team ignores the question or avoids the question asked by answering on an unrelated topic), it is communicated in this report:
    • some answers will be written as "not disclosed/available"
    • a comment may be added in the "Overall Communication" section regarding the team's attitude

Basics


  • Official Website
  • White paper
  • Short paper
  • TGE page
  • Fields
    • Foundational layer + Marketplace + Productivity
  • Goal
    • Break down app silos by creating a decentralized software ecosystem (for DApps)
    • CardStack = Zappier/IFTTT + DApp store + Raiden + DApp framework (i.e. Azure Blockchain as a Service)
  • Market size
    • Massive considering the aims of the project, so worth billion of USD.
  • Description
    • Card is an ERC20 token
    • A “full stack” application framework to reach mainstream users
    • Coordinated via open governance of decentralized protocols
    • Users of Cardstack Hub
      • Mix and match multiple dApps and cloud app - without worrying about a mess of separate cloud subscriptions or utility tokens
      • Create amazing new workflow and app combinations
      • Get started quickly with fiat currency: no crypto expertise required
    • Marketplace or decentralized software market
      • distributes rewards fairly among the creators of the software and the open-source communities supporting them
      • a buyer of applications enters into a direct deal via smart contracts, which coordinate a diverse network of software development teams, cloud hosting providers, and app coin-backed protocols.
      • The buyer offers to cover all the material costs of running the app, as long as the cost is directly linked to the usage. The buyer will also pay a royalty that is split between those who developed the software, as a reward for initially creating and continuously supporting all the components making up that particular application.
    • Cardstack Framework
      • a comprehensive SDK for building powerful, cohesive blockchain apps.
      • At the core is Cardstack Hub: orchestrates data and value transfer across multiple blockchains and the cloud
      • Drop in ready-touse functionality like searchable indexes, realtime notifications, uniform user permissions, flexible containerized deployment, and much more.
      • Everything is extensible, and is 100% open-sourced
    • Tally protocol
      • An aggregation protocol
      • Proof-of-usage messages that are efficiently validated and aggregated off-chain before reporting the final payment splits back to the smart contract on-chain - dramatically improving the experience and reducing the demands on the Ethereum blockchain
      • Gives dApps the power to perform complex computations to organize large networks of users — such as batching payments, counting votes, and rewarding good work
    • Miners
      • Unlike Bitcoin - which forces miners to solve useless math problems - Cardstack analytic miners help calculate the reward function of who gets paid out what, while sifting out spam, making the system fair and resilient.
      • Tally miners can use GPUs already deployed in the crypto world

ICO


Token Trading and Usage


  • Token trading
    • date tokens get distributed
      • up to 30 days after the TGE
    • date tokens hit exchanges and exchanges planned to list the token
      • not disclosed yet
  • Token usage
    • a hybrid token acting as a utility token, a work token, and a reward token
    • utility token allowing end-users and businesses to use applications that interact with multiple blockchains, decentralized protocols, app-coin-backed dApps, and cloud- based services while paying a single on-chain transaction fee
    • software makers earn tokens from a reward pool

Team


Advisors


  • Advisors still have to be announced

Partners and Investors


Online Presence


Product Status and Transparency


  • Product status - MVP, testing, alpha, beta, live?
    • The core architecture and components of Cardstack have been under continuous development for 3+ years.
    • They have been deployed in production in both enterprise and open network environments.
  • Transparency
    • organization registration & jurisdiction
      • Cardstack Foundation is a non-profit foundation based in the Canton of Zug, Switzerland.
    • Other organisations that are part of CardStack
      • card.space
      • Monegraph
      • Dot Blockchain Media
      • CardStack Sundicate
      • CardStack Foundation
      • CardStack Institute
      • CardStack Studio
      • CardStack Financial
      • CardStack Live
    • open source or not
    • code audited or not
    • overall communication
      • Clear communication via the different online channels (helpful team on Telegram), however there isn’t much third party coverage yet so CardStack might want to work on that.

3rd party ICO reviews


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  • Article written by Adrien Berthou - founder of ICO Points Analysis
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The idea of the project is good . Although it is going down by the time they release their project it will boom.

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Eventually this project would boom and investors would invest on cardstack. They will be a known project and would be successful in the future.

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I don't think that they will become successful because this project has limited exchanges and I think that is a big factor because some of us investors didn't know the project because the exchanges that they're using is not popular.

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Being listed on a few exchanges is not a big deal, they work hard for that. And i think it's a great start to success. Let's just trust to their project, we don't know, one day, they will become the one of the best project.

Nice project that deserve some attention. Glad they did it.

Thank you for sharing. This is a great read. My question is Do we have plans on being listed on a higher exchange that Can promote us?