Tron

TRON is a blockchain-based decentralized protocol that aims to construct a worldwide free content entertainment system with the blockchain and distributed storage technology.

About Tron

Tronix (TRX) is the official currency of TRON, which aims to be a decentralized entertainment content sharing platform eventually leveraging blockchain and peer-to-peer (p2p) network technology. Founded by a non-profit Singapore-based foundation, the Tron Foundation seeks to tackle the global entertainment industry – currently valued at $1 trillion. Tronix’s open, decentralized platform and distributed storage technology will, in theory, allow creators of digital content to cut out middlemen and to allow content producers to be able to obtain funds directly from consumers.

However, due to lack of reliable communications, criticism over potential plagiarism and shady token distribution, would-be investors in Tronix should do their thorough research, as there are several blatant red flags to yet be addressed.

 

Use of Blockchain
2.0
Product
Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

1.0
N/A
1 - Nothing yet, just an idea.
Appeal

How appealing is the product? How good or necessary is it? Does it have a distinct edge?

3.0
N/A
3 - Interesting.
Target User Base

Is it mass market or niche?

2.0
N/A
2 - Small audience / niche market.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

2.0
N/A
2 - Quite a few / somewhat better competitors.
Innovation

How innovative or inventive is the product, either conceptually or technologically?

2.0
N/A
2 - Some, but nothing outstanding.

Product

Tron’s main key features, highlighted in the 51 pages long whitepaper (In Mandarin Chinese) are these: Data liberation, enabling a content based ecosystem where users can obtain digital assets from content spreading, personal ICO with the ability to distribute digital assets and an infrastructure to allow distributed digital assets exchange (such as video games) and market forecasting. How exactly is the team planning to achieve all this? The team has developed a stage for each purpose, listed as follows:

1. Exodus (Data liberation)
2. Odyssey (Content empowerment)
3. Apollo (Free movement of value decentralized token trading exclusively for individuals)
4. Star Trek (Traffic monetization and market forecast)
5. Eternity (Traffic conversion decentralized game)

In the whitepaper, some of the translated material can look familiar for those who scour through ICO/Coin’s whitepapers, as they are complete identical copies of existing projects (Filecoin, IPFS to name a few), and not only that, there are reports online by users who have performed their due diligence on the subject, that Tronix are also plagiarising code lines. This should be a red flag. Moreover, there is currently no working platform, or even an alpha product, and there is scarce information released. On Jan 23rd, 2018, the team has announced via a post on medium that the launch date for the Exodus platform is March 31st, 2018. In terms of innovation in the blockchain ecosystem, it is hard to gauge Tronix’s contribution. There is currently very little to nothing to show for outside of big yet vague promises.

Product Roadmap
1.0
Use of Blockchain
Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

1.0
N/A
1 - None; simple Ethereum based coin.
Disruptive Blockchain Advantage

How disruptive is the introduction of blockchain technology into the product's market space?

1.0
N/A
1 - None or indeterminate.
Need for a Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

1.0
N/A
1 - None really, just fundraising.
System Decentralization (besides token)

How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?

1.0
N/A
1 - Essentially centralized.
Contribution to Blockchain Ecosystem

How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?

1.0
N/A
1 - None really, or unknown.

Use of Blockchain

There is very little information regarding Tron’s future platform(s). The team said they are currently working on Exodus (Launch date: March 31st, 2018 as of now) which on paper should work quite similar to IPFS (a peer-to-peer hypermedia platform) and its principal objective is to provide a simple distributed file sharing facility. In this phase, Tronix cannot leverage any blockchain technology yet. However, the only way to track the team’s progress is to check their GitHub, which doesn’t have a lot of commits or contributors, and as mentioned before, may consist of stolen lines. The TRX tokens are ERC-20 tokens, and no word on a swap to new coins after the implementation of Tronix’s future platform has surfaced yet.

Use of Blockchain Compliance
1.4
Roadmap
Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

2.0
N/A
2 - Vague, noncommittal.
Feasibility

Is the development plan realistic? Is it based on reasonable goals and timelines?

2.0
N/A
2 - Very ambitious.
Vision

Is there a larger, long-term vision?

1.0
N/A
1 - Founders' instant gratification.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

1.0
N/A
1 - Not-yet-available or questionable.
Current Position

Where is the project now, relative to its vision and plans?

1.0
N/A
1 - Nowhere yet.

Roadmap

The roadmap, which is on Tronix’s website, is very short and minimal, only conveying 5 main targets – the 5 stages mentioned before (Exodus, Odyssey, Apollo, Star Trek and Eternity) and their projected dates, which are very, very broad. (i.e Exodus: Aug 2017 – Dec 2018)

Roadmap Company and Team
1.4
Compliance
Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

1.0
N/A
1 - None in the near (or any) future.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

1.0
N/A
1 - Solely; a passive investment vehicle.
Token/Smart-Contract Readiness

Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?

1.0
N/A
1 - Nothing yet, just an idea.
Attention to Compliance Issues

How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?

2.0
N/A
2 - Minimal, superficial or hackneyed.
Legal Review/Risk Assessment

What kind of legal documentation (reviews or agreements) and risk assessment are provided?

2.0
N/A
2 - Insufficient or unprofessional.

Compliance

The TRX tokens are as of now, ERC-20 tokens. There are plans on converting these tokens into TRX-blockchain based tokens, but there is no reliable information on the subject. Tronix has raised the entire amount they set to raise: $70,000,000. There are 100,000,000,000 TRX tokens in total, distributed as such:

“Total amount of TRX is 100 billion and will be allocated as follows:

* Public offering: 40%
* TRON Foundation and the ecosystem: 35%
* Private offering: 15%
* Pay initial supporter – Peiwo Huanle (Beijing) Technology Co., Ltd.: 10%”

And again, as mentioned, a huge red flag is raised as Justin Sun is the CEO and founder of both Tronix and Peiwo. From what I could gather, there is no mention as to whether the token is regarded as a security or not, and it does not seem to have any inherent intrinsic value outside of serving as a medium to raise funds. The smart-contract infrastructure is no where to be ready, and through online research and the translated version of the Mandarin whitepaper, there doesn’t seem to be any mentions of legal review or attention to compliance issues outside the regular confinements of ICO-like fund-raising in regards to certain countries like the USA.

Compliance
2.6
Company and Team
Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

2.0
N/A
2 - Initial stages of formation.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

4.0
N/A
4 - Verifiable relevant experience.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

3.0
N/A
3 - Mostly assembled and committed.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

2.0
N/A
2 - Lacking or inconsistent.
Team Skill Set Balance

Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?

2.0
N/A
2 - Somewhat skewed.

Company and Team

The main face behind Tronix is Justin Sun, who founded Peiwo, an app aspiring to become China’s Snapchat that matches and connects users by analyzing 10-second voice samples as well interests. It has matched more than 4 billion chats to date. Sun became Davos Global Shaper in 2014 and was the former representative of Bitcoin settlement platform Ripple in China and has served as Chief Representative and Advisor for Ripple Labs for over 2 years. The rest of the team detailed on the company’s website and whitepaper is unknown globally, and does not have any social media links. A red flag is how the tokens are distributed: according to the whitepaper, the tokens shall be distributed like so:

“Total amount of TRX is 100 billion and will be allocated as follows:

* Public offering: 40%
* TRON Foundation and the ecosystem: 35%
* Private offering: 15%
* Pay initial supporter – Peiwo Huanle (Beijing) Technology Co., Ltd.: 10%”

Justin Sun, as mentioned, is the founder and CEO of Peiwo, so this obviously raises a huge red flag. Along with the scarce information about the team’s progress and the criticism regarding plagiarism, this raises a lot of unanswered questions.

The team skill set is ranked low (2) since there is little reliable information regarding the team, and the only unit of measurement is their progress/code lines, and both are under heavy scrutiny at the moment.

Product

Tron’s main key features, highlighted in the 51 pages long whitepaper (In Mandarin Chinese) are these: Data liberation, enabling a content based ecosystem where users can obtain digital assets from content spreading, personal ICO with the ability to distribute digital assets and an infrastructure to allow distributed digital assets exchange (such as video games) and market forecasting. How exactly is the team planning to achieve all this? The team has developed a stage for each purpose, listed as follows:

1. Exodus (Data liberation)
2. Odyssey (Content empowerment)
3. Apollo (Free movement of value decentralized token trading exclusively for individuals)
4. Star Trek (Traffic monetization and market forecast)
5. Eternity (Traffic conversion decentralized game)

In the whitepaper, some of the translated material can look familiar for those who scour through ICO/Coin’s whitepapers, as they are complete identical copies of existing projects (Filecoin, IPFS to name a few), and not only that, there are reports online by users who have performed their due diligence on the subject, that Tronix are also plagiarising code lines. This should be a red flag. Moreover, there is currently no working platform, or even an alpha product, and there is scarce information released. On Jan 23rd, 2018, the team has announced via a post on medium that the launch date for the Exodus platform is March 31st, 2018. In terms of innovation in the blockchain ecosystem, it is hard to gauge Tronix’s contribution. There is currently very little to nothing to show for outside of big yet vague promises.

Category Breakdown
Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

1.0
N/A
1 - Nothing yet, just an idea.
Appeal

How appealing is the product? How good or necessary is it? Does it have a distinct edge?

3.0
N/A
3 - Interesting.
Target User Base

Is it mass market or niche?

2.0
N/A
2 - Small audience / niche market.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

2.0
N/A
2 - Quite a few / somewhat better competitors.
Innovation

How innovative or inventive is the product, either conceptually or technologically?

2.0
N/A
2 - Some, but nothing outstanding.
Product Score:
2.0

Use of Blockchain

There is very little information regarding Tron’s future platform(s). The team said they are currently working on Exodus (Launch date: March 31st, 2018 as of now) which on paper should work quite similar to IPFS (a peer-to-peer hypermedia platform) and its principal objective is to provide a simple distributed file sharing facility. In this phase, Tronix cannot leverage any blockchain technology yet. However, the only way to track the team’s progress is to check their GitHub, which doesn’t have a lot of commits or contributors, and as mentioned before, may consist of stolen lines. The TRX tokens are ERC-20 tokens, and no word on a swap to new coins after the implementation of Tronix’s future platform has surfaced yet.

Category Breakdown
Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

1.0
N/A
1 - None; simple Ethereum based coin.
Disruptive Blockchain Advantage

How disruptive is the introduction of blockchain technology into the product's market space?

1.0
N/A
1 - None or indeterminate.
Need for a Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

1.0
N/A
1 - None really, just fundraising.
System Decentralization (besides token)

How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?

1.0
N/A
1 - Essentially centralized.
Contribution to Blockchain Ecosystem

How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?

1.0
N/A
1 - None really, or unknown.
Use of Blockchain Score:
1.0

Whitepaper

Category Breakdown
Comprehensiveness

Does it cover the full scope of the problem and solution?

N.0
N/A
N/A
Readability

Is it easy enough to understand?

N.0
N/A
N/A
Transparency

Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?

N.0
N/A
N/A
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

N.0
N/A
N/A
Technology Presentation

Does it present a well thought out technological architecture? Does it address implementational challenges?

N.0
N/A
N/A
Whitepaper Score:
0.0

Roadmap

The roadmap, which is on Tronix’s website, is very short and minimal, only conveying 5 main targets – the 5 stages mentioned before (Exodus, Odyssey, Apollo, Star Trek and Eternity) and their projected dates, which are very, very broad. (i.e Exodus: Aug 2017 – Dec 2018)

Category Breakdown
Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

2.0
N/A
2 - Vague, noncommittal.
Feasibility

Is the development plan realistic? Is it based on reasonable goals and timelines?

2.0
N/A
2 - Very ambitious.
Vision

Is there a larger, long-term vision?

1.0
N/A
1 - Founders' instant gratification.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

1.0
N/A
1 - Not-yet-available or questionable.
Current Position

Where is the project now, relative to its vision and plans?

1.0
N/A
1 - Nowhere yet.
Roadmap Score:
1.4

Compliance

The TRX tokens are as of now, ERC-20 tokens. There are plans on converting these tokens into TRX-blockchain based tokens, but there is no reliable information on the subject. Tronix has raised the entire amount they set to raise: $70,000,000. There are 100,000,000,000 TRX tokens in total, distributed as such:

“Total amount of TRX is 100 billion and will be allocated as follows:

* Public offering: 40%
* TRON Foundation and the ecosystem: 35%
* Private offering: 15%
* Pay initial supporter – Peiwo Huanle (Beijing) Technology Co., Ltd.: 10%”

And again, as mentioned, a huge red flag is raised as Justin Sun is the CEO and founder of both Tronix and Peiwo. From what I could gather, there is no mention as to whether the token is regarded as a security or not, and it does not seem to have any inherent intrinsic value outside of serving as a medium to raise funds. The smart-contract infrastructure is no where to be ready, and through online research and the translated version of the Mandarin whitepaper, there doesn’t seem to be any mentions of legal review or attention to compliance issues outside the regular confinements of ICO-like fund-raising in regards to certain countries like the USA.

Category Breakdown
Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

1.0
N/A
1 - None in the near (or any) future.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

1.0
N/A
1 - Solely; a passive investment vehicle.
Token/Smart-Contract Readiness

Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?

1.0
N/A
1 - Nothing yet, just an idea.
Attention to Compliance Issues

How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?

2.0
N/A
2 - Minimal, superficial or hackneyed.
Legal Review/Risk Assessment

What kind of legal documentation (reviews or agreements) and risk assessment are provided?

2.0
N/A
2 - Insufficient or unprofessional.
Compliance Score:
1.4

Company and Team

The main face behind Tronix is Justin Sun, who founded Peiwo, an app aspiring to become China’s Snapchat that matches and connects users by analyzing 10-second voice samples as well interests. It has matched more than 4 billion chats to date. Sun became Davos Global Shaper in 2014 and was the former representative of Bitcoin settlement platform Ripple in China and has served as Chief Representative and Advisor for Ripple Labs for over 2 years. The rest of the team detailed on the company’s website and whitepaper is unknown globally, and does not have any social media links. A red flag is how the tokens are distributed: according to the whitepaper, the tokens shall be distributed like so:

“Total amount of TRX is 100 billion and will be allocated as follows:

* Public offering: 40%
* TRON Foundation and the ecosystem: 35%
* Private offering: 15%
* Pay initial supporter – Peiwo Huanle (Beijing) Technology Co., Ltd.: 10%”

Justin Sun, as mentioned, is the founder and CEO of Peiwo, so this obviously raises a huge red flag. Along with the scarce information about the team’s progress and the criticism regarding plagiarism, this raises a lot of unanswered questions.

The team skill set is ranked low (2) since there is little reliable information regarding the team, and the only unit of measurement is their progress/code lines, and both are under heavy scrutiny at the moment.

Category Breakdown
Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

2.0
N/A
2 - Initial stages of formation.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

4.0
N/A
4 - Verifiable relevant experience.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

3.0
N/A
3 - Mostly assembled and committed.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

2.0
N/A
2 - Lacking or inconsistent.
Team Skill Set Balance

Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?

2.0
N/A
2 - Somewhat skewed.
Company and Team Score:
2.6

Token Sale

Category Breakdown
Raise Amount Max

Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?

N.0
N/A
N/A
Raise Amount Min

Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?

N.0
N/A
N/A
Fund Allocation

Is fund distribution and allocation reasonable and justified?

N.0
N/A
N/A
Token Allocation

Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?

N.0
N/A
N/A
Media Presence and Following

Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?

N.0
N/A
N/A
Token Sale Score:
0.0
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