108Token ICO Review

/108Token ICO Review

108Token ICO Review 2018-08-07T20:46:49+00:00
108Token ICO Review

What is 108Token?

108Token is an ERC20 token launched in June to help track the performance of top cryptocurrencies. The startup also aims to simplify cryptocurrency trading. Investors can invest in the company’s token and the platform will invest the tokens in a pool of the top 15 crypto coins such as Bitcoin and Ethereum based on supply-adjusted market capitalization.

108Token was designed to help people get into the cryptocurrency industry easily without spending much time learning about every cryptocurrency. The token also helps traders spread their risks and increase profits since 108tokens are invested in a pool of many assets.

Instead of invest in one cryptocurrency that could lose value fast through fluctuation, 108Token aims to diversify traders’ portfolios by investing in all the major cryptocurrencies. Additionally, the platform takes the burden of researching about each digital asset from traders. Investors only need buy 108Tokens and they will earn profits when the value of the top 15 cryptos increases in value as well.

108Token will be based on the ethereum blockchain and will be powered by smart contracts once the ecosystem is complete. Investors will be required to spend at least 0.5 worth of ethereum or 0.1 of a bitcoin to access the tokens during the crowdfunding period.

In total, 108token plans to distribute 5 million 108T tokens, and 96.5% of them will be available for purchase at the ICO phase. The tokens will all be pre-mined ERC20 based. Once the project is complete, investors will be able to buy the tokens on cryptocurrency exchanges with no limits.

To ensure the token’s value remain balanced, 108token plans to reevaluate the top 15 digital assets monthly. The company only targets the coins based on their adjusted market caps. As such, if a coin’s moves above the position 15 after one month, it’s replaced with a different cryptocurrency the following month. 108token will use coins’ market supply in 2050 versus their current prices to determine the correct ranks.

108Token Main Features

  • Tokenized Portfolio – 108token will be an ERC20 that represents the performance of the top 15 coins invested together and weighed based on their supply-adjusted market capitalization. Purchasing the token will be equivalent to investing in a pool of the best performing 15 digital assets.
  • Monthly rebalancing – all listed coins will be reevaluated monthly to ensure 108token represents the true value of the top 15 digital assets each month. However, there will be a 20% weight cap on each cryptocurrency. Rebalancing the portfolio is a strategic move that will ensure the value of 108T is based on only the top 15 coins. It will also help eliminate underperforming coins from the invested pool of cryptocurrencies.
  • Diversified to spread risks and Increase Profits – by purchasing the 108token, investors will be investing in 15 different digital assets. Thus, they’ll be spreading their risks and increasing the potential for profits. 108 token believes the best way to invest in crypto is to diversify investments. And through their token, investors have a diversified and strong portfolio.
  • Easily Accessible on Exchanges – once the 108token ecosystem is complete, the ERC20 tokens will be easily available on altcoin exchanges. Anyone will be able to access the crypto tokens and hold them in their personal ERC20 wallets. The cryptocurrency tracking platform targets every investor who wants to build a portfolio around the top 15 cryptocurrencies.

Why is the 108Token sale not a typical ICO?

  • The token represents a basket of cryptocurrencies. This is why the token sale does not provide discounts, bonuses etc.
  • The tokens will be allocated by the end of the token sale in order for all tokens to represent the price of cryptocurrencies on that date.
  • The top 15 cryptocurrencies will be taken based on supply adjusted market cap (like it is available on onchainfx.com) and not the current market cap. They adjust the market cap to take into account the supply as of 2050 as this provides a more rational way of looking at market caps by factoring in future inflation.

108Token Communication Channels

ICO Team

Ramani Ramachandran

A former electrical engineer cum finance expert, Ramani is a team leader in the 108Token project. He is also the CEO of Zen Privex, a cryptocurrency startup as well. While Raman’s role is not clearly specified on 108token’s website, he is the most active team member. In the past five years, Ramani has been an active CEO or executive, establishing himself as a capable CEO for the 108Token ICO.

Eyal Hertzog

Eyal is the most prominent advisor to the 108token team. He is a product architect at the Bancor blockchain network and an experienced developer since 1998. One of his most successful creations is Metacafe Inc., a highly popular photo sharing website. Eyal left Metacafe in 2011 to pursue a career in the blockchain. He has since then co-founded Appcoin, a cryptocurrency platform.

Aditya Mishra

A Stanford University School of Business certified manager, Aditya specializes in finance and management. He is the current COO of ZenPrivex, a company he co-founded with Ramani. Aditya also owns an electrical engineering degree and has experience in analytics.

Gautam Seshadri

Gautam is a business administrator who graduated at the London School of Economics and Political Science. Before joining Ramani and Aditya at ZenPrivex in 2012, Gautam worked for a Venture Capital firm. Prior to that, the financial analyst was the co-owner of a Foods-related business and a strategist at a research Institute.

Gangadhar Sulkunte

Like most 108token team members, Gangadhar also works for Zenprivex. He is a product developer with published mobile and web apps that relate to health and clean air. He has co-founded and headed several startups since 2010. However, the developer’s educational background is mechanical engineering and marketing.

Rohit Alluri

Rohit is an associate director at ZenPrivex and holds a similar role at 108token. Before joining ZenPrivex, the Indian Institute of Technology-educated researcher worked at JP Morgan. His role at the major bank’s Indian branch was to conduct research about the company’s drivers and write reports.  Rohit also won an award together with eleven other members while working at JP Morgan.

Partnerships

While 108Token is not highly hyped, it has attracted the attention of Korean VC firm, XSQ. The Venture Capital Company sponsors cryptocurrency startups and programs meant to increase cryptocurrency adoption. Another company to have partnered with 108Token is QCP, a digital assets trading firm.

Scam Check

All of the company’s 13 members have their LinkedIn profiles linked to the company’s website for verification. This is a good sign as it proves the team members exist and that their profiles are not faked. Like most legitimate ICOs, 108token claims to use smart contracts to lock users’ funds.

The company does not provide their bitcoin and ethereum wallet addresses. And although not easy to trace, the wallets can be linked to the team members. In general, the ICO passes the basic qualification of a legitimate ICO. And since it’s registered and enforces KYC verification, it does the basic required to earn the trust of ICO investors.

Token Sale

108token is currently holding a private ICO until 30th August 2018. During the crowdfunding campaign, investors can request KYC verification after which they may invest a minimum of 0.1BTC or 0.5ETH. Investors who want to use fiat to invest are required to contribute at least $50,000.

The company’s ICO is in phase one of the crowdfunding campaign. At this stage, one 108T will be traded for $1.05. During phase II of the campaign, one 108T will be sold for $1.10. The ICO has targeted a minimum cap of 5 million and US-based and Singapore investors are restricted from participating.

108Token Coin Supply/Purpose

108Token pre-mined 5 million tokens before holding an early token sale in the first quarter of 2018. The company aims to sell 96.5% of all the tokens during its crowdfunding campaign. Team members and advisors will collectively share 2.5% and 0.5% of the tokens respectively. The remaining 0.5% will be allocated for bug bounties.

108Token’s ICO is currently at Phase I and will end on August 30th before commencing the second and final phase. As an ERC20 token, 108T will be supported by all major ethereum wallets. Investors buying the token will, however, be required to hold the tokens for at least 90 days in a wallet before transferring them to another wallet or exchange.

What’s the coin’s purpose? 108T is a utility token that will be used to track the value of 15 of the biggest digital assets based on an adjusted-supply market cap. In addition to that, the 108T will represent a cryptocurrency portfolio that consists of major coins. Investors can buy 108tokens and the company will invest the tokens in major cryptocurrencies for 90 days.

Through the 90-days investment program, the 108token team has a chance to monetize the project by imposing a 0.5% fee charged to every investor. The fee is charged after the investment period and will be calculated using USD currency. Essentially, the 108token will profit from the project through the 2.5% locked 108tokens and the administrative fee charged to investors after the quarterly investment.

Potential/Use Cases

108Token’s main service is to provide a trading instrument for the top 15 digital assets. It aims to simplify trading, particularly to beginner traders. By promising to help people invest in all top cryptocurrencies through one token, the company is offering a service never offered before in the blockchain world.

The 108Token platform is unique and has not been implemented before by blockchain startups. While this does not automatically mean the company will succeed, it gives the team an edge when marketing their services. Investors are increasingly engaging in altcoin trading. If the company can reach out to upcoming investors, its token will succeed.

On the downside, 108Token does not explain how it’s going to convince investors to buy its token instead of simply invest in individual coins. The company’s services can also be offered without using the blockchain. Through cryptocurrency investment funds, people can invest specific amounts of money and brokers will diversify their portfolios.

Fortunately, 108Token is using the blockchain to offer its services. The blockchain has the benefit of attracting a global audience. It also offers the efficiency of trading, transparency and the kind of security crypto investors look for. If 108token can successfully market their service to investors, they have great potential to grow.

108token is not popular among ICO or general crypto investors. With a few reviews, rare 108token news online and no coverage on Reddit, the company has a long way to go before attracting the attention of most ICO investors.

However, the company’s team is relentless in marketing their project. That, together with the growing interest in crypto trading funds, is projected to help 108token gain widespread adoption in the coming months. The company’s CEO, Ramani, estimates that at least $1 billion will be spent on index funds by the end of 2018. If the trend continues and major investors finally start trading crypto, the 108T will gain tremendous value.

Business Model

108token will have a quarterly investment program where traders can buy the company’s tokens and lock them for a period of 90 days. The company will invest these tokens in a pool of the top 15 digital assets every month for the three months. On the last day of the 90-days period, 108token will charge a 0.5% administration fee to the accrued earnings of each investor.

MVP

The company’s MVP is investors and will continuously spend 0.5% of its ICO funds to attract new investors.

Market Research

108Token is offering a product many beginner investors would want: the ability to invest in the best cryptocurrencies without wasting time researching about each one of them. Every new crypto investor wants to invest in the best performing coins.

However, there are almost no platforms that have a service that enables investors to buy 15 different coins in the way 108T coin does. The company’s potential competitors are cryptocurrency hedge funds and none of them operates like 108T. If properly marketed, there is great potential for the ICO.

Capitalization Potential

The company aims to sell nearly all of their 5 million tokens and raise at least $5 million. There are almost no other ICOs that had the same business model as 108Token. And since the company is offering a service in great demand; it will most likely surpass their fundraising goal.

108Token Review Summary

108token is a pioneer crypto index fund that uses one token to represent the value of 15 large cryptocurrencies. Unlike any other index fund, investors buy one token that is then used to invest in some of the biggest cryptocurrencies.

Based on the ethereum blockchain, 108token is an ERC20 token that can be traded on cryptocurrency exchanges. It can also be supported by all ERC20 wallets. The 108token targets investors who want to build a passive income by investing in the top 15 cryptocurrencies. Instead of allowing investors to struggle to maneuver the complex world of cryptocurrencies, 108T will be the gateway coin for investing in major coins.

108token has great potential noting that the demand for cryptocurrency index firms is increasing. By leveraging the blockchain to offer transparency and security, 108T has the potential to be one of the most successful ICO projects in 2018.

Thank you for reading our 108Token review. If you liked it, check out our site for more reviews and ICO guides.

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