Efir

Main exchange of P2P “AdWords” for native advertising with opinion leaders.

About Efir

Efir is a native blogger advertising platform. The platform offers a search engine and marketplace focused on bloggers. Advertising quality is intended to increase with the platform’s “decentralized production” service, which utilizes QZ tokens for advertising. Other services that will be sold on the platform include tools which enable automatic agency business processes and data analytics services, all of which is payed using QZ tokens.

Token Economics Product

Documentation

2.0
Documentation
Comprehensiveness

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

2.0
N/A
2 - Very limited information.
Readability

How easy is it to read and understand the documentation, comprehend the project's goals and trajectory.

3.0
N/A
3 - May take some time to get through, or be somewhat long or complicated, but gets the point across.
Transparency

Level of disclosure of pertinent information regarding the company and the project, including current stages of development, issues that have been identified and how to address them, potential problems, access to resources and repositories (github repository, patent applications). Honesty with regard to what the project can (vs. wishes to) achieve.

2.0
N/A
2 - Ambiguous non-disclosure. Glossing over important issues.
Presentation of Business Plan and Token Model

What stages are to be achieved, how are they to be carried out and according to what timeline, what is the long-term plan. How well thought-out is the token model and how well does it fit into the company's overall business model.

2.0
N/A
2 - Missing critical information; discussion is brief or very basic, or based on unfounded claims or promises.
Presentation of Platform Technology and Use of Blockchain

What are the platform's core and additional features, how are they to be implemented and according to what timeline, what is the long-term plan. How well thought-out is the use of blockchain technology and how integral is it to the platform.

2.0
N/A
2 - Missing critical information; discussion is brief or very basic, does not address the underlying issues.
Legal Review and Risk Assessment

How professional are the disclaimers, risk assessments, terms and conditions, etc. Is the company working with respectable law/accounting firms? What about due diligence and smart contract auditing? Is a SAFT structure being used (and is the SAFT accessible)?

1.0
N/A
1 - None available.

Documentation

Comprehensiveness: There are a number of documents included through the company website which outlines the token sale and efir.io platform, as well as other aspects such as the bounty program. The problem statement and market assessment includes some figures and statistics, with reference to the source of the information. The technical discussion is lacking and the business development plan lacks detail. The majority of the document discusses the market landscape and the features of the platform as opposed to development plans. Information regarding the team is somewhat limited. The company GitHub page is not publicly available.

Readability: The market overview section of the whitepaper is not enjoyable to read as it is simply a compilation of statistics and figures taken from external resources with little effort with regards to sentence flow and structure. A similar writing approach is presented with the technological discussion of the whitepaper, which mentions technical terms without much further elaboration or explanation. However, the remainder of the document reads more easily and the information presented does not seem to be obfuscated.

Transparency: The organization has a Board of Trustees, which has individuals that are said to be elected, but the “Regulation of elections will be determined after the Main Token Exchange”. A discussion as to why the governance structure is not made transparent before the completion of the token sale is not discussed.

Presentation of Business Plan and Token Model: The business development plan of the organization is fairly vague. Most of the whitepaper focuses on discussing the market landscape as opposed to discussing specific strategies with regards to business development. However, there is a document provided on the website that briefly discusses the organization’s bounty program. Further discussion regarding the organization’s marketing plans are limited. Fee structure is not outlined.

Presentation of Platform Technology and Use of Blockchain: The technical aspects of the platform are discussed fairly poorly. There are vague statements throughout the technical discussion. For example, it is stated that “the project can be rapidly scaled thanks to modern technical and methodology solutions, architecture approaches and operative implementation of additional servers”.

Legal Review and Risk Assessment: Legal content is minimal on all documents and the company website, which is might be handled internally considering that there is a team member with a legal role. As far to the public’s knowledge, there is no clear review of the project’s legal stance. 

Documentation Market

Product

2.7
Product
Differentiation

What are the product's unique features / attributes / advantages? How is it different from other, similar products or projects? What makes it stand out or gives it an edge?

3.0
N/A
3 - Some; has a certain edge or angle.
Readiness

Readiness of the full platform, including blockchain/smart-contract/token infrastructure; based on what's publicly available (not just claims).

3.0
N/A
3 - Prototype / MVP / alpha of full product; Traditional platform exists, blockchain integration still in conceptualization.
Concreteness of Development Plans

How detailed is the roadmap? How well defined is the timeframe? How concrete and detailed are the milestones and how well are they correlated with the business and technology development plans, as well as with funding goals (i.e., fundraising dependent)?

4.0
N/A
4 - Down to earth. Milestones sufficiently detailed and correlated with business and technology development plans.
Current Position within Roadmap

How far along is the project as a whole relative to the plans and roadmap (including growth, not just platform development)?

2.0
N/A
2 - Critical obstacles ahead.
Feasiblity

Are the project's development plans reasonable? Does the long term vision align with core objectives and current development efforts? Does the timeframe make sense?

3.0
N/A
3 - Optimistic.
Blockchain Innovation

What is the level of innovation and development particularly with regard to blockchain technology and its utilization? Do the project's blockchain-related developments have value beyond the company's particular platform or network?

1.0
N/A
1 - None; simple, basic Ethereum based token (ERC20 with minimal smart contract functionality).

Product

Differentiation: Compared to other blockchain-based advertising platforms, efir.io is specifically targeted towards bloggers. The platform offers a free blogger search engine and marketplace. Furthermore, the platform also focuses on peer-to-peer advertising. It is stated in the whitepaper that Famebit (a social media influencer marketplace owned by Google) is not a competitor to efir.io since Famebit is not actively being developed. This is a fairly weak justification as to why the platform is not a competitor. An comparison of features between the two platforms is not sufficiently described.

Readiness: The platform (open database) is operations and can be found through the company website and it is stated that the platform has been operation since 2016. Blockchain integration is yet to be implemented.

Concreteness of Development Plans: The roadmap is presented as follows:

efir.io: Main platform
– Adding YouTube 170 000 bloggers with public data: (March 2018)
– Scaling to other Social Networks. First Chinese social net: (December 2018)
– Gutenberg first search algorithm: (April 2018)
– Next generation search algorithm: (August 2018)
– Smart contract condition fixation: (July 2018)
– First oracles: 80% complete – (July 2018).
– Integration of exchange services: (September 2018)
– Functionality for advertisers: (May 2017)
– Open Api Beta: (August 2018)
– Open Api Release: (November 2018)
– Bloggers and Media-Specialists registration: beta testing in Russia at production.efir.io
– Bloggers assessment: (September 2018)
– Functionality for producers: (September 2018)
– Opening of a crowd investing campaign: (December 2018)
– Assessment of the results of bloggers’ development: (December 2018)
– Internal communication on the platform between bloggers and media specialists: (December 2018)

Agencies.efir.io​: Agency services (Beta)
– Agency integration: released
– Generation of automatic offers: released
– Smart briefing: (December 2018)
– Automatic reports: (December 2018)
– Professional search tools: (February 2019)
– Automatic requests to bloggers: (February 2019)

Analytics.efir.io​ (Alpha)
– Prototype of technology in Russian — (April, 2018)
– Scaling to other (non hieroglyphical languages) languages: (September 2018)
– Scaling to other (hieroglyphical languages) languages: (February 2019)
– Basic functionality: (December 2018)
– First preorders for statistics: (May 2018)

Prquality.efir.io​ – PR Assessment (Research)
– Prototype for recognition of emotional influence of voice: (October 2018)
– Prototype for recognition of Emotional influence of music: (December 2018)
– Prototype for recognition of Emotional influence of picture: (February 2018)
– Basic Oracle for technology: (March 2019)

The funding-dependent project development plan is also presented in the whitepaper and is presented as follows:

250 ETH (collected in the frame of Private Exchange. Work completed)
– Development office has been open in Moscow. (Efir Development LLC)
– Product has become available in 12 languages (Spanish, Italian, Portuguese, German, French, Turkish, Russian, Ukrainian, English, Chinese, Korean, Japanese) and in 22 countries.
– Product rebranding and redesign has been performed (from qaazqaaz.com to efir.io).
– Twitch has been switched on. First bloggers have registered.

1000+ ETH (collected in the frame of Pre Exchange. Work is in progress):
– Managing office has been open.
– 170K channels are accessible via beta search engine.
– 35K channels with contact details.
– Product is available in 17 languages and in all the countries in the world.
– International and regional professional communities have been created. (bloggers, producers…).
– First deals in cryptocurrency have been held.
– Basic functionality for professional producers communities has been created.
– New content-oriented social networks have been switched on.
– Functionality for agencies, advertisers and bloggers has been completed
– Basic API for external services has been created.

Rj ETH+
– The Board of Trustees will be organized.
– The number of bloggers will be growing through involvement in decentralized production.
– Regional agents’ networks will be created.
– Branch analytics will be held and reports will be published.
– All transactions on efir.io will be conducted on the basis of QZ cryptocurrency.
– New content-oriented social nets will be switched on.
– Complete functionality for the decentralized production community and bloggers tutoring will be developed
– There will be complete API for external services
– QZ volatility control instruments will be developed.

Funding based milestones are presented and the level of detail presented for most milestones is sufficient. Specific quantitative goals are outlined in the roadmap.

Current Position within Roadmap: The organization has achieved the development of the beta version of the blogger search engine, which is stated to have over 170K YouTube channels (with over 20K subscribers). Major developments of the platform (emotional recognition, blockchain integration, etc) are still to be developed.

Feasibility: The feasibility of the project appears favorable and does not require the use of bleeding-edge technology for the platform to function. Blockchain technology is primarily used to create tokens as a means of exchange. With the exception of the “recognition of emotional influence”, the goals that the organization sets out to achieve seem relatively simple from a technological standpoint.

Blockchain Innovation: The platform is simply using blockchain technology to create tokens which will be used as a funding technique and as a means of exchange in the efir.io ecosystem. The platform provides little innovation with respect to blockchain technology.

Product Company and Team

Market

2.8
Market
Target User Base

How big is the project's target user base, how large is its potential market?

2.0
N/A
2 - Small audience / niche market.
Market Penetration Potential

How easy or difficult will it be to penetrate this market sector on the scale proposed by the project? How dominant is the hold of current market leaders, and are they maintaining a competitive edge? For reviewers (not for tooltip): This should be generally with regard to both traditional and emerging blockchain solutions (assuming that in most sectors, there are no leading blockchain solutions as of yet, but there may start to be). Also, token regulatory issues that apply equally to all should not be stressed here, unless the project has an extra regulatory issue, or (in the other direction) if the regulatory measures taken help it considerably with market penetration...

3.0
N/A
3 - Moderate, a good strategy is essential.
Direct Competition

How many direct competitors does the project have (that are already known or can be easily found with a simple search), and how much further along are they? This should focus on blockchain-related competition but can include established or notable traditional (non-blockchain) competitors with a strong hold.

3.0
N/A
3 - Some normal competition (e.g., 5-7, similarly positioned). Blockchain solutions already evidently present in the sector.
Solution Advantage

How strong is the project's unique selling proposition (i.e., its stated advantage over similar or comparable ones)?

3.0
N/A
3 - Moderate.
Blockchain Disruption

How strong is the potential for disruption of the market sector due to the introduction of blockchain technology, as it is utilized by the solution?

3.0
N/A
3 - Moderate.
Long-Term Vision

What are the long term goals and plans of the project? (In terms of concrete plans, not just hype or vague assertions.)

3.0
N/A
3 - Gain hold over a particular market segment, expand global outreach, possibly expand into other segments or sectors.

Market

Target User Base: The target user base for efir.io are primarily bloggers, IT startups, and advertising agencies. As such the demographic for the platform is somewhat limited compared to projects with a broader scope.

Market Penetration Potential: The potential to capitalize on blogger-focused advertising is considerable due to the relatively new development of the space, although a good strategy will be necessary as the platform faces potential competition from established companies such as Famebit.

Direct Competition: There are numerous blockchain-based digital advertising platforms. However efir.io is specifically targeting bloggers and has an existing search tool to find bloggers. There is a vague statement included in the whitepaper that the organization does not consider Famebit “a competitor, as it doesn’t develop”. More details as to why Famebit is not a competitor is limited.

Competitors include (but are not limited to):
– socialmedia.market
– Verasity
– Mavin

Solution Advantage: Compared to other advertising platforms, efir.io has existing tools and services and is focused on using bloggers for advertising. Additionally, the platform will have other tools and services which will allow users to automate business processes and analyze data (PR quality, API access, blogger development programs).

Blockchain Disruption: As described by the solution, it is not evident that blockchain technology will revolutionize the target market sector. Instead, it seems as through the organization is leveraging the ability to implement an ICO as a funding technique as opposed to developing a revolutionary product/service.

Long-Term Vision: The platform aims to provide bloggers (and advertisers) the means to utilize a new advertising channel. As a result, the organization has potential to gain hold over the particular market segment. Based on the roadmap, there are clear plans to expand the platform and legitimize bloggers as a viable marketing strategy.

Market Token Economics

Company and Team

2.2
Company and Team
Company Stage and Foundation

When was the company founded, how mature is it? Has it raised significant funds? Where relevant, this should address the parent company. For reviewers (not for tooltip): Check company LinkedIn and Crunchbase profiles. Impression summary should list basic information such as founding date, location/s, previous fundraising rounds (via crunchbase), maybe number of employees (via linkedin).

4.0
N/A
4 - Established with some fundraising history (at least one notable previous investment round).
Team Assembly and Commitment

What is the structure of the team (core members, advisers, contributors)? Are all necessary positions filled or is the company still looking for key team participants? Are the team members fully committed to the project (or involved with other projects simultaneously)?

2.0
N/A
2 - Lacking in key areas.
Background of Lead/Core Team Members

Are LinkedIn (or Github, or other professional) profile links provided, and do they show involvement in the project and relevant previous experience? For reviewers (not for tooltip): If the team is quite large, C-level and certain key team members (such as lead tech/blockchain developers) should be looked at, while other than that, a sample is fine (but this should be mentioned or reflected in the language ["It appears as though..."]).

2.0
N/A
2 - Fragmented or inconclusive.
Relevance of Team's Previous Experience and Skill Set

How relevant are the team members' backgrounds and experience to the project and its requirements? Do they come from related industries and have in-depth knowledge of their respective fields?

2.0
N/A
2 - Lacking or inconsistent.
Team Skill Set Balance (biz / tech / blockchain)

Do the team members' backgrounds and experience appear to collectively cover the project requirements? This includes but is not limited to blockchain expertise.

2.0
N/A
2 - Somewhat skewed.
Strategic Partnerships

What kind of launch partners and early adopters does the project have?

1.0
N/A
1 - None really.

Company and Team

Company Stage and Foundation: Further information regarding the company is not easily accessible. According to the company’s LinkedIn page, the company was founded in 2016 and is privately held in Moscow. The company has recieved 1250 ETH in pre-sales and private sales.

Team Assembly and Commitment: The whitepaper presents the core team of 17 team members. The team structure is presented as follows:

Denis Shayahmetov | CEO
Askar Abildayev | efir.io PM
Dr Sanjaya Kanthan | Regional Consultant (APAC)
Vicky He | Regional consultant (Asia)
Vladimir Koveshnikov | Marketing & Product Development
Michael Belyakov | English speaking segment supervisor
Anna Kozlovskaya | Legal
Nikolay Yakovlev | Data Scientist
Inna Rudaya | PR Manager
Anton Elovikov | Product Designer
Elizabeth Kornaukhova | Regional consultant (Asia)
Ilya Holnov | Agencies.efir.io PM
Zotova Anastasia | Production.efir.io PM
Dmitry Vinokurov | CTO
Danil Vishnyakov | Back-end Developer
Kirill Dolmatov | Front-end Developer
Alexander Gerasimov | System Administrator

LinkedIn most profiles can be found through manual search (not provided in the whitepaper or the website). The CTO (along with the Marketing & Product Development team member) does not disclose their involvement with the project and is concurrently involved with other projects.

Background of Lead/Core Team Members: The level of information presented for each team member in the whitepaper is quite low: the bio description is approximately 1-3 sentences. Bio descriptions are not included on the company website and links to social media profiles are not present in either the whitepaper or the website. There is minimal information presented on the CEO’s LinkedIn page. Information regarding the software developer is also lacking.

Relevance of Team’s Previous Experience and Skill Set: Most team members do not provide enough information regarding their prior experience to assess its relevance with the project. It is not evident that the team possesses team members that have had extensive experience with blockchain development.

Team Skill Set Balance: The team seems skewed towards business development. The platform does not seem particularly complex from a blockchain technology perspective, but the number of individuals with expertise in the sector is lacking.

Strategic Partnerships: It is not evident that the organization has notable partnerships with sizable user bases.

Company and Team Documentation

Token Economics

2.5
Token Economics
Value Proposition of Token

How much of a need is there for the token? What is the token's utility value, and what is its value as a security?

4.0
N/A
4 - Token entitles holder to valuable or useful rights (such as access to services), and is essential to platform.
Token Economy

How well defined and sustainable is the token economy? This should include circulation, fees, earn/spend mechanisms, inflation/deflation mechanisms, etc.

3.0
N/A
3 - Some aspects stll undetermined, or potentially but not necessarily problematic.
System Decentralization (besides token)

How decentralized is the solution other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)? The purpose here is not to penalize use of centralized components per se, but to assess how decentralization is incorporated.

1.0
N/A
1 - Essentially centralized without due consideration of the broader issue.
Fundraising Goals (Min/Max Raise Amounts)

How sensible are the project's min/max raise amounts or soft/hard caps? (Related to Use of Proceeds but broader).

2.0
N/A
2 - Somewhat greedy or unrelated to plans.
Use of Proceeds (Fund Allocation)

How well-defined and sensible is the planned use of proceeds / fund allocation?

3.0
N/A
3 - Rough estimates, but looks okay.
Token Allocation

How well-defined and reasonable is the token allocation (including vesting, what's done with unsold tokens, etc.)?

2.0
N/A
2 - Unclear or suspicious.

Token Economics

Value Proposition of Token: QZ tokens provide access to a number of services:
– registration on the platform
– data analytics
– PR assessment
– Business agency automation tools

It stated in the whitepaper that QZ tokens should be bought now since “The QZ exchange rate growth is anticipated by the limited volume of QZ, fixed exchange rate between PrivateQZ, PreQZ, real and constantly developing product, impressive subprojects, and our decentralized community”.

Token Economy: Total supply: 100,000,000 QZ

Further details regarding the token economy is somewhat lacking. The fee structure of the different services in the efir.io ecosystem is not outlined. Furthermore, earn/spend mechanisms are only discussed briefly, without specific details or quantitative examples. Participating roles are only discussed briefly.

System Decentralization (besides token): The platform will utilize a “two-leveled control system”. The low level consists of strategy, product development via the management office (which will be registered as a legal body). At the high level is the Board of Trustees. which consists of key personnel, partners, representatives of bloggers and advertising agencies. It is stated that “all members of Board of Trustees should be elected”, however the details of the regulation process will be revealed after the token sale. It is unclear why the organization chose to not disclose this information to readers before the completion of the token sale. As such, the organization does not seem to value decentralization as a vital component of the platform.

Fundraising Goals (Min/Max Raise Amounts): Soft cap: N/A
Hard cap: 15,000 ETH

The hard cap is not adequately justified based on the use of proceeds and seem unrelated to development plans.

Use of Proceeds (Fund Allocation): The use of proceeds is presented in the whitepaper and the company website as follows:

45% – organization of communities in countries of presence
40% – Development
15% – Legal

Further discussion as to how fund will be used is not presented.

Token Allocation: The token allocation presented in both the whitepaper and the company website is presented as follows:

60% – Token exchange
20% – Team bonus
17% – Reserve (lower volatility fund)
3% – Bounty

There is a lack of clarity regarding tokens allocated for the token sale, as it is stated 60% of the tokens will be allocated for the public crowd sale, yet the organization has already received 250 ETH and 1000 ETH from the private sale and pre-sale, respectively. This is not clearly reflected in the presentation of the token allocation.

Documentation

Comprehensiveness: There are a number of documents included through the company website which outlines the token sale and efir.io platform, as well as other aspects such as the bounty program. The problem statement and market assessment includes some figures and statistics, with reference to the source of the information. The technical discussion is lacking and the business development plan lacks detail. The majority of the document discusses the market landscape and the features of the platform as opposed to development plans. Information regarding the team is somewhat limited. The company GitHub page is not publicly available.

Readability: The market overview section of the whitepaper is not enjoyable to read as it is simply a compilation of statistics and figures taken from external resources with little effort with regards to sentence flow and structure. A similar writing approach is presented with the technological discussion of the whitepaper, which mentions technical terms without much further elaboration or explanation. However, the remainder of the document reads more easily and the information presented does not seem to be obfuscated.

Transparency: The organization has a Board of Trustees, which has individuals that are said to be elected, but the “Regulation of elections will be determined after the Main Token Exchange”. A discussion as to why the governance structure is not made transparent before the completion of the token sale is not discussed.

Presentation of Business Plan and Token Model: The business development plan of the organization is fairly vague. Most of the whitepaper focuses on discussing the market landscape as opposed to discussing specific strategies with regards to business development. However, there is a document provided on the website that briefly discusses the organization’s bounty program. Further discussion regarding the organization’s marketing plans are limited. Fee structure is not outlined.

Presentation of Platform Technology and Use of Blockchain: The technical aspects of the platform are discussed fairly poorly. There are vague statements throughout the technical discussion. For example, it is stated that “the project can be rapidly scaled thanks to modern technical and methodology solutions, architecture approaches and operative implementation of additional servers”.

Legal Review and Risk Assessment: Legal content is minimal on all documents and the company website, which is might be handled internally considering that there is a team member with a legal role. As far to the public’s knowledge, there is no clear review of the project’s legal stance. 

Category Breakdown
Comprehensiveness

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

2.0
N/A
2 - Very limited information.
Readability

How easy is it to read and understand the documentation, comprehend the project's goals and trajectory.

3.0
N/A
3 - May take some time to get through, or be somewhat long or complicated, but gets the point across.
Transparency

Level of disclosure of pertinent information regarding the company and the project, including current stages of development, issues that have been identified and how to address them, potential problems, access to resources and repositories (github repository, patent applications). Honesty with regard to what the project can (vs. wishes to) achieve.

2.0
N/A
2 - Ambiguous non-disclosure. Glossing over important issues.
Presentation of Business Plan and Token Model

What stages are to be achieved, how are they to be carried out and according to what timeline, what is the long-term plan. How well thought-out is the token model and how well does it fit into the company's overall business model.

2.0
N/A
2 - Missing critical information; discussion is brief or very basic, or based on unfounded claims or promises.
Presentation of Platform Technology and Use of Blockchain

What are the platform's core and additional features, how are they to be implemented and according to what timeline, what is the long-term plan. How well thought-out is the use of blockchain technology and how integral is it to the platform.

2.0
N/A
2 - Missing critical information; discussion is brief or very basic, does not address the underlying issues.
Legal Review and Risk Assessment

How professional are the disclaimers, risk assessments, terms and conditions, etc. Is the company working with respectable law/accounting firms? What about due diligence and smart contract auditing? Is a SAFT structure being used (and is the SAFT accessible)?

1.0
N/A
1 - None available.
Documentation Score:
2.0

Product

Differentiation: Compared to other blockchain-based advertising platforms, efir.io is specifically targeted towards bloggers. The platform offers a free blogger search engine and marketplace. Furthermore, the platform also focuses on peer-to-peer advertising. It is stated in the whitepaper that Famebit (a social media influencer marketplace owned by Google) is not a competitor to efir.io since Famebit is not actively being developed. This is a fairly weak justification as to why the platform is not a competitor. An comparison of features between the two platforms is not sufficiently described.

Readiness: The platform (open database) is operations and can be found through the company website and it is stated that the platform has been operation since 2016. Blockchain integration is yet to be implemented.

Concreteness of Development Plans: The roadmap is presented as follows:

efir.io: Main platform
– Adding YouTube 170 000 bloggers with public data: (March 2018)
– Scaling to other Social Networks. First Chinese social net: (December 2018)
– Gutenberg first search algorithm: (April 2018)
– Next generation search algorithm: (August 2018)
– Smart contract condition fixation: (July 2018)
– First oracles: 80% complete – (July 2018).
– Integration of exchange services: (September 2018)
– Functionality for advertisers: (May 2017)
– Open Api Beta: (August 2018)
– Open Api Release: (November 2018)
– Bloggers and Media-Specialists registration: beta testing in Russia at production.efir.io
– Bloggers assessment: (September 2018)
– Functionality for producers: (September 2018)
– Opening of a crowd investing campaign: (December 2018)
– Assessment of the results of bloggers’ development: (December 2018)
– Internal communication on the platform between bloggers and media specialists: (December 2018)

Agencies.efir.io​: Agency services (Beta)
– Agency integration: released
– Generation of automatic offers: released
– Smart briefing: (December 2018)
– Automatic reports: (December 2018)
– Professional search tools: (February 2019)
– Automatic requests to bloggers: (February 2019)

Analytics.efir.io​ (Alpha)
– Prototype of technology in Russian — (April, 2018)
– Scaling to other (non hieroglyphical languages) languages: (September 2018)
– Scaling to other (hieroglyphical languages) languages: (February 2019)
– Basic functionality: (December 2018)
– First preorders for statistics: (May 2018)

Prquality.efir.io​ – PR Assessment (Research)
– Prototype for recognition of emotional influence of voice: (October 2018)
– Prototype for recognition of Emotional influence of music: (December 2018)
– Prototype for recognition of Emotional influence of picture: (February 2018)
– Basic Oracle for technology: (March 2019)

The funding-dependent project development plan is also presented in the whitepaper and is presented as follows:

250 ETH (collected in the frame of Private Exchange. Work completed)
– Development office has been open in Moscow. (Efir Development LLC)
– Product has become available in 12 languages (Spanish, Italian, Portuguese, German, French, Turkish, Russian, Ukrainian, English, Chinese, Korean, Japanese) and in 22 countries.
– Product rebranding and redesign has been performed (from qaazqaaz.com to efir.io).
– Twitch has been switched on. First bloggers have registered.

1000+ ETH (collected in the frame of Pre Exchange. Work is in progress):
– Managing office has been open.
– 170K channels are accessible via beta search engine.
– 35K channels with contact details.
– Product is available in 17 languages and in all the countries in the world.
– International and regional professional communities have been created. (bloggers, producers…).
– First deals in cryptocurrency have been held.
– Basic functionality for professional producers communities has been created.
– New content-oriented social networks have been switched on.
– Functionality for agencies, advertisers and bloggers has been completed
– Basic API for external services has been created.

Rj ETH+
– The Board of Trustees will be organized.
– The number of bloggers will be growing through involvement in decentralized production.
– Regional agents’ networks will be created.
– Branch analytics will be held and reports will be published.
– All transactions on efir.io will be conducted on the basis of QZ cryptocurrency.
– New content-oriented social nets will be switched on.
– Complete functionality for the decentralized production community and bloggers tutoring will be developed
– There will be complete API for external services
– QZ volatility control instruments will be developed.

Funding based milestones are presented and the level of detail presented for most milestones is sufficient. Specific quantitative goals are outlined in the roadmap.

Current Position within Roadmap: The organization has achieved the development of the beta version of the blogger search engine, which is stated to have over 170K YouTube channels (with over 20K subscribers). Major developments of the platform (emotional recognition, blockchain integration, etc) are still to be developed.

Feasibility: The feasibility of the project appears favorable and does not require the use of bleeding-edge technology for the platform to function. Blockchain technology is primarily used to create tokens as a means of exchange. With the exception of the “recognition of emotional influence”, the goals that the organization sets out to achieve seem relatively simple from a technological standpoint.

Blockchain Innovation: The platform is simply using blockchain technology to create tokens which will be used as a funding technique and as a means of exchange in the efir.io ecosystem. The platform provides little innovation with respect to blockchain technology.

Category Breakdown
Differentiation

What are the product's unique features / attributes / advantages? How is it different from other, similar products or projects? What makes it stand out or gives it an edge?

3.0
N/A
3 - Some; has a certain edge or angle.
Readiness

Readiness of the full platform, including blockchain/smart-contract/token infrastructure; based on what's publicly available (not just claims).

3.0
N/A
3 - Prototype / MVP / alpha of full product; Traditional platform exists, blockchain integration still in conceptualization.
Concreteness of Development Plans

How detailed is the roadmap? How well defined is the timeframe? How concrete and detailed are the milestones and how well are they correlated with the business and technology development plans, as well as with funding goals (i.e., fundraising dependent)?

4.0
N/A
4 - Down to earth. Milestones sufficiently detailed and correlated with business and technology development plans.
Current Position within Roadmap

How far along is the project as a whole relative to the plans and roadmap (including growth, not just platform development)?

2.0
N/A
2 - Critical obstacles ahead.
Feasiblity

Are the project's development plans reasonable? Does the long term vision align with core objectives and current development efforts? Does the timeframe make sense?

3.0
N/A
3 - Optimistic.
Blockchain Innovation

What is the level of innovation and development particularly with regard to blockchain technology and its utilization? Do the project's blockchain-related developments have value beyond the company's particular platform or network?

1.0
N/A
1 - None; simple, basic Ethereum based token (ERC20 with minimal smart contract functionality).
Product Score:
2.7

Market

Target User Base: The target user base for efir.io are primarily bloggers, IT startups, and advertising agencies. As such the demographic for the platform is somewhat limited compared to projects with a broader scope.

Market Penetration Potential: The potential to capitalize on blogger-focused advertising is considerable due to the relatively new development of the space, although a good strategy will be necessary as the platform faces potential competition from established companies such as Famebit.

Direct Competition: There are numerous blockchain-based digital advertising platforms. However efir.io is specifically targeting bloggers and has an existing search tool to find bloggers. There is a vague statement included in the whitepaper that the organization does not consider Famebit “a competitor, as it doesn’t develop”. More details as to why Famebit is not a competitor is limited.

Competitors include (but are not limited to):
– socialmedia.market
– Verasity
– Mavin

Solution Advantage: Compared to other advertising platforms, efir.io has existing tools and services and is focused on using bloggers for advertising. Additionally, the platform will have other tools and services which will allow users to automate business processes and analyze data (PR quality, API access, blogger development programs).

Blockchain Disruption: As described by the solution, it is not evident that blockchain technology will revolutionize the target market sector. Instead, it seems as through the organization is leveraging the ability to implement an ICO as a funding technique as opposed to developing a revolutionary product/service.

Long-Term Vision: The platform aims to provide bloggers (and advertisers) the means to utilize a new advertising channel. As a result, the organization has potential to gain hold over the particular market segment. Based on the roadmap, there are clear plans to expand the platform and legitimize bloggers as a viable marketing strategy.

Category Breakdown
Target User Base

How big is the project's target user base, how large is its potential market?

2.0
N/A
2 - Small audience / niche market.
Market Penetration Potential

How easy or difficult will it be to penetrate this market sector on the scale proposed by the project? How dominant is the hold of current market leaders, and are they maintaining a competitive edge? For reviewers (not for tooltip): This should be generally with regard to both traditional and emerging blockchain solutions (assuming that in most sectors, there are no leading blockchain solutions as of yet, but there may start to be). Also, token regulatory issues that apply equally to all should not be stressed here, unless the project has an extra regulatory issue, or (in the other direction) if the regulatory measures taken help it considerably with market penetration...

3.0
N/A
3 - Moderate, a good strategy is essential.
Direct Competition

How many direct competitors does the project have (that are already known or can be easily found with a simple search), and how much further along are they? This should focus on blockchain-related competition but can include established or notable traditional (non-blockchain) competitors with a strong hold.

3.0
N/A
3 - Some normal competition (e.g., 5-7, similarly positioned). Blockchain solutions already evidently present in the sector.
Solution Advantage

How strong is the project's unique selling proposition (i.e., its stated advantage over similar or comparable ones)?

3.0
N/A
3 - Moderate.
Blockchain Disruption

How strong is the potential for disruption of the market sector due to the introduction of blockchain technology, as it is utilized by the solution?

3.0
N/A
3 - Moderate.
Long-Term Vision

What are the long term goals and plans of the project? (In terms of concrete plans, not just hype or vague assertions.)

3.0
N/A
3 - Gain hold over a particular market segment, expand global outreach, possibly expand into other segments or sectors.
Market Score:
2.8

Company and Team

Company Stage and Foundation: Further information regarding the company is not easily accessible. According to the company’s LinkedIn page, the company was founded in 2016 and is privately held in Moscow. The company has recieved 1250 ETH in pre-sales and private sales.

Team Assembly and Commitment: The whitepaper presents the core team of 17 team members. The team structure is presented as follows:

Denis Shayahmetov | CEO
Askar Abildayev | efir.io PM
Dr Sanjaya Kanthan | Regional Consultant (APAC)
Vicky He | Regional consultant (Asia)
Vladimir Koveshnikov | Marketing & Product Development
Michael Belyakov | English speaking segment supervisor
Anna Kozlovskaya | Legal
Nikolay Yakovlev | Data Scientist
Inna Rudaya | PR Manager
Anton Elovikov | Product Designer
Elizabeth Kornaukhova | Regional consultant (Asia)
Ilya Holnov | Agencies.efir.io PM
Zotova Anastasia | Production.efir.io PM
Dmitry Vinokurov | CTO
Danil Vishnyakov | Back-end Developer
Kirill Dolmatov | Front-end Developer
Alexander Gerasimov | System Administrator

LinkedIn most profiles can be found through manual search (not provided in the whitepaper or the website). The CTO (along with the Marketing & Product Development team member) does not disclose their involvement with the project and is concurrently involved with other projects.

Background of Lead/Core Team Members: The level of information presented for each team member in the whitepaper is quite low: the bio description is approximately 1-3 sentences. Bio descriptions are not included on the company website and links to social media profiles are not present in either the whitepaper or the website. There is minimal information presented on the CEO’s LinkedIn page. Information regarding the software developer is also lacking.

Relevance of Team’s Previous Experience and Skill Set: Most team members do not provide enough information regarding their prior experience to assess its relevance with the project. It is not evident that the team possesses team members that have had extensive experience with blockchain development.

Team Skill Set Balance: The team seems skewed towards business development. The platform does not seem particularly complex from a blockchain technology perspective, but the number of individuals with expertise in the sector is lacking.

Strategic Partnerships: It is not evident that the organization has notable partnerships with sizable user bases.

Category Breakdown
Company Stage and Foundation

When was the company founded, how mature is it? Has it raised significant funds? Where relevant, this should address the parent company. For reviewers (not for tooltip): Check company LinkedIn and Crunchbase profiles. Impression summary should list basic information such as founding date, location/s, previous fundraising rounds (via crunchbase), maybe number of employees (via linkedin).

4.0
N/A
4 - Established with some fundraising history (at least one notable previous investment round).
Team Assembly and Commitment

What is the structure of the team (core members, advisers, contributors)? Are all necessary positions filled or is the company still looking for key team participants? Are the team members fully committed to the project (or involved with other projects simultaneously)?

2.0
N/A
2 - Lacking in key areas.
Background of Lead/Core Team Members

Are LinkedIn (or Github, or other professional) profile links provided, and do they show involvement in the project and relevant previous experience? For reviewers (not for tooltip): If the team is quite large, C-level and certain key team members (such as lead tech/blockchain developers) should be looked at, while other than that, a sample is fine (but this should be mentioned or reflected in the language ["It appears as though..."]).

2.0
N/A
2 - Fragmented or inconclusive.
Relevance of Team's Previous Experience and Skill Set

How relevant are the team members' backgrounds and experience to the project and its requirements? Do they come from related industries and have in-depth knowledge of their respective fields?

2.0
N/A
2 - Lacking or inconsistent.
Team Skill Set Balance (biz / tech / blockchain)

Do the team members' backgrounds and experience appear to collectively cover the project requirements? This includes but is not limited to blockchain expertise.

2.0
N/A
2 - Somewhat skewed.
Strategic Partnerships

What kind of launch partners and early adopters does the project have?

1.0
N/A
1 - None really.
Company and Team Score:
2.2

Token Economics

Value Proposition of Token: QZ tokens provide access to a number of services:
– registration on the platform
– data analytics
– PR assessment
– Business agency automation tools

It stated in the whitepaper that QZ tokens should be bought now since “The QZ exchange rate growth is anticipated by the limited volume of QZ, fixed exchange rate between PrivateQZ, PreQZ, real and constantly developing product, impressive subprojects, and our decentralized community”.

Token Economy: Total supply: 100,000,000 QZ

Further details regarding the token economy is somewhat lacking. The fee structure of the different services in the efir.io ecosystem is not outlined. Furthermore, earn/spend mechanisms are only discussed briefly, without specific details or quantitative examples. Participating roles are only discussed briefly.

System Decentralization (besides token): The platform will utilize a “two-leveled control system”. The low level consists of strategy, product development via the management office (which will be registered as a legal body). At the high level is the Board of Trustees. which consists of key personnel, partners, representatives of bloggers and advertising agencies. It is stated that “all members of Board of Trustees should be elected”, however the details of the regulation process will be revealed after the token sale. It is unclear why the organization chose to not disclose this information to readers before the completion of the token sale. As such, the organization does not seem to value decentralization as a vital component of the platform.

Fundraising Goals (Min/Max Raise Amounts): Soft cap: N/A
Hard cap: 15,000 ETH

The hard cap is not adequately justified based on the use of proceeds and seem unrelated to development plans.

Use of Proceeds (Fund Allocation): The use of proceeds is presented in the whitepaper and the company website as follows:

45% – organization of communities in countries of presence
40% – Development
15% – Legal

Further discussion as to how fund will be used is not presented.

Token Allocation: The token allocation presented in both the whitepaper and the company website is presented as follows:

60% – Token exchange
20% – Team bonus
17% – Reserve (lower volatility fund)
3% – Bounty

There is a lack of clarity regarding tokens allocated for the token sale, as it is stated 60% of the tokens will be allocated for the public crowd sale, yet the organization has already received 250 ETH and 1000 ETH from the private sale and pre-sale, respectively. This is not clearly reflected in the presentation of the token allocation.

Category Breakdown
Value Proposition of Token

How much of a need is there for the token? What is the token's utility value, and what is its value as a security?

4.0
N/A
4 - Token entitles holder to valuable or useful rights (such as access to services), and is essential to platform.
Token Economy

How well defined and sustainable is the token economy? This should include circulation, fees, earn/spend mechanisms, inflation/deflation mechanisms, etc.

3.0
N/A
3 - Some aspects stll undetermined, or potentially but not necessarily problematic.
System Decentralization (besides token)

How decentralized is the solution other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)? The purpose here is not to penalize use of centralized components per se, but to assess how decentralization is incorporated.

1.0
N/A
1 - Essentially centralized without due consideration of the broader issue.
Fundraising Goals (Min/Max Raise Amounts)

How sensible are the project's min/max raise amounts or soft/hard caps? (Related to Use of Proceeds but broader).

2.0
N/A
2 - Somewhat greedy or unrelated to plans.
Use of Proceeds (Fund Allocation)

How well-defined and sensible is the planned use of proceeds / fund allocation?

3.0
N/A
3 - Rough estimates, but looks okay.
Token Allocation

How well-defined and reasonable is the token allocation (including vesting, what's done with unsold tokens, etc.)?

2.0
N/A
2 - Unclear or suspicious.
Token Economics Score:
2.5

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