AXenS

AXenS is the most forward thinking B2B platform for Distributed Supply Chain Finance (DSCF) and Distributed Trade Services (DTS).

About AXenS

AXenS aims at providing the international trade finance eco-system with more FX stability and non-aggressive volatility in multiple-currency transactions, and to become the common medium for peer-to-peer exchanges and trade services. AXenS aims to fix the cost-efficiency issue and to increase the overall velocity of exchanges via blockchain operation, with AXS as a store of value that can be securely controlled by self-executable smart-contract business logic that runs transparently, systematically and consensually on blockchain without human intervention. Each member of the AXS community of owners will be granted a right to vote in critical aspects of AXS regulation.

Competitors: OpenText, BlockEx, Provenance, Chained Finance, Deloitte, We.Trade
Uniqueness/Advantages to competition: Blockchain will be built upon the Stellar blockchain protocol.

Token Sale Use of Blockchain

Product

2.4
Product
Readiness

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

2.0
N/A
2 - Proof of concept or test platform.
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?

3.0
N/A
3 - Has growth potential.
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

AXenS is meant to be a tokenized credit platform for global trade. There is currently no alpha/beta platform available for testing. There is no publicly accessible github repo, and the web-based UI/UX is planned to be launched after the ICO (see Roadmap). There is appeal to the platform as there is increasing demand for trade credit services globally and it is a very large market. The target user base is the global trading credit marketplace which is very large and will expand as cryptocurrency adoption increases. There is a large amount of legacy competition in this space, with well known competitors that have been very successful.
Competitors: OpenText, BlockEx, Provenance, Chained Finance, Deloitte, We.Trade

Product Whitepaper

Use of Blockchain

2.6
Use of Blockchain
Blockchain Development

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

3.0
N/A
3 - Automation; making something easier to do.
Disruptive Blockchain Advantage

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

3.0
N/A
3 - Potentially disruptive.
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?

2.0
N/A
2 - Some, mainly network effect.
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.)?

2.0
N/A
2 - Centralized with some plans to decentralize.
Contribution to Blockchain Ecosystem

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

3.0
N/A
3 - Interesting.

Use of Blockchain

AXenS’s contribution to blockchain development is in creating a new decentralized global trade credit marketplace using the Stellar blockchain. The project’s primary disruptive advantage is in providing a liquid credit pool in a trustless and transparent marketplace for supply chain/global trade credit. The need for a custom token is in allowing users to gain access to the platform as well exchange value and provide credit within the ecosystem. The contribution to the blockchain ecosystem is in developing a new blockchain based, global marketplace for trade credit.

Use of Blockchain Roadmap

Whitepaper

3.8
Whitepaper
Comprehensiveness

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

4.0
N/A
4 - Satisfactory coverage, well written.
Readability

Is it easy enough to understand?

4.0
N/A
4 - Easy to read and understand.
Transparency

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

3.0
N/A
3 - Basic honesty with some hype.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

4.0
N/A
4 - Clear, well thought out, realistic.
Technology Presentation

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

4.0
N/A
4 - Clear, well thought out, realistic.

Whitepaper

The whitepaper is professional and informative and provides a balanced mixture of media and textual explanation. The whitepaper is 49 pages in length and is easy to read and understand given the amount of media presented. The whitepaper provides high level information discussing the opportunity, ecosystem, underlying Xnotes blockchain technology, the AXS token, an overview of the AXenS platform and Mesocredit Portal, KYC/AML services, ICO structuring, and the leadership team and business partners. The business and technology plans behind AXenS are detailed and concisely explained including detailed textual and graphical explanations.

Whitepaper Compliance

Roadmap

3.0
Roadmap
Concreteness

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

3.0
N/A
3 - An overall plan, major milestones stated.
Feasibility

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

3.0
N/A
3 - Optimistic.
Vision

Is there a larger, long-term vision?

2.0
N/A
2 - Riding the current wave.
Dependencies (services or capabilities)

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

4.0
N/A
4 - Available and trusted.
Current Position

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

3.0
N/A
3 - Getting there.

Roadmap

A detailed post-ICO roadmap is given however no deadline time frames are attached to each milestone. Obstacles lie ahead as deployment of web-based UI/UX and permissioned blockchain will occur after the ICO. The roadmap provides major milestones and no descriptions of the intermediate steps required to complete each milestone.

Major Future Milestones:
Web-based UI/UX
Lender-side Portal + Borrower-side Portal
Loan Syndication
Secondary Market
Permissioned Data / Document repository Setup (trusted distributed storage + proof-of-existence over Xnotes
blockchain)
Identity Management + KYC
Progressive implementation of the required Supply Chain Digitization processes
Loan Self-Executable Agreement / Smart Contract development (Xnotes-based)
Configuration of SAP Global Trade Services to support AXenS Trade Service
Development of market-making capabilities (for opportunity portal, loan syndication and secondary market)
Developer API to allow third-party apps to interact with AXenS network
SAP-certified backend configuration to comply with financial and logistic regulations
Ongoing listing of AXS tokens in the largest exchanges
Ongoing onboarding of lenders, borrowers and other services providers
Onboarding of the different service providers continues
Rollout of the new functions (e.g. crowd funding) and trade services
Building of custodial and other banking relationships with financial institutions
Move into areas other than SMEs – this would already have been done opportunistically
Securitization of Loans to be sold to third parties freeing up liquidity
Over time, parley AXS into the main medium to tokenize global trade credit, and have it accepted by all parties.

Roadmap Company and Team

Compliance

3.2
Compliance
Token Utility (value through usage)

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

3.0
N/A
3 - Limited or uncertain use cases.
Token as Security (tradable instrument)

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

2.0
N/A
2 - Primarily, with few additional rights.
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?

5.0
N/A
5 - Professional, audited.
Legal Review/Risk Assessment

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

5.0
N/A
5 - Professional and top-tier.

Compliance

The AXS-token’s main utility is as a financial instrument, as it is used for trading, lending, credit, and payment within network, however it also allows access to the platform and community resources. The token smart-contract code is not posted for review and there is no publicly accessible github repo. The whitepaper contains a disclaimer and a discussion of risk factors, and KYC is is enforced with a two-tier whitelisting process that includes ID document upload.
The legal disclaimer states that the tokens are intended for use as functional utility tokens and and come with no warranties. The terms and conditions of the sale aim to absolve the company of any liability regarding the ICO and any problems that may occur, and provide a general statment that the tokens are not to be deemed a security and will comply with all laws in areas which the platform is offered.

Compliance Token Sale

Company and Team

3.4
Company and Team
Company Stage and Foundation

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

4.0
N/A
4 - Established with some fundraising history.
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?

3.0
N/A
3 - Correlated to project requirements.
Team Skill Set Balance

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

3.0
N/A
3 - Somewhat uncertain, probably okay.

Company and Team

AXenS has an established team with 6 lead team members, 2 advisors, and 6 business partners.
The core team has experience in capital management, commodity trading and trading operation management, supply chain systems, fintech, engineering and IT, QR code based mobile apps, and cryptocurrency projects. Two co-founders (Chairman of the Board and COO) are also co-founders of XNotes.
The advisors have experience with marketing and business, finance and capital management, social entrepreneurship, and technical consulting.
All core team members have verifiable work experience credentials via LinkedIn profiles, however some profiles provide little information. Some members of the team appear to be dedicated to other projects outside of AXenS. (The CTO is also CEO of a SAP delivery center company in Slovakia, Technical Project Manager).
Positives: The core team is well rounded and some core members have experience in cryptocurrency/blockchain/smart-contract projects.
Negatives: Not all members are fully dedicated to the project and there is no lead blockchain developer listed. (Technical Project Manager is a managing partner at DSM Consulting in Ethiopia).

Company and Team Product

Token Sale

2.6
Token Sale
Raise Amount Max

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

2.0
N/A
2 - Somewhat greedy or unrelated to plans.
Raise Amount Min

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

2.0
N/A
2 - Only loosely related to plans.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

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

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

4.0
N/A
4 - Most tokens sold, vesting periods on kept tokens.
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?

2.0
N/A
2 - Minor exposure and interest, or ambivalent reception.

Token Sale

AXenS Token (AXS)
Total supply: 100 million AXS
Token Price: 1 AXS = 0.50 USD
Soft Cap: 10 million USD
Hard Cap: 50 million USD

Token Allocation
65% Token Sale
25% Team Founders (18 month vesting period and 6 month cliff.)
07% Early AXenS Users Allocatiion
03% Bounty Program

ICO Proceeds Distribution
60% Loan Capacity
15% Tech
10% Operational Costs
05% Legal & Compliance
05% Marketing
05% Incentives

Social Media Presence & Following
There is little community engagment and reception.

Product

AXenS is meant to be a tokenized credit platform for global trade. There is currently no alpha/beta platform available for testing. There is no publicly accessible github repo, and the web-based UI/UX is planned to be launched after the ICO (see Roadmap). There is appeal to the platform as there is increasing demand for trade credit services globally and it is a very large market. The target user base is the global trading credit marketplace which is very large and will expand as cryptocurrency adoption increases. There is a large amount of legacy competition in this space, with well known competitors that have been very successful.
Competitors: OpenText, BlockEx, Provenance, Chained Finance, Deloitte, We.Trade

Category Breakdown
Readiness

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

2.0
N/A
2 - Proof of concept or test platform.
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?

3.0
N/A
3 - Has growth potential.
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:
2.4

Use of Blockchain

AXenS’s contribution to blockchain development is in creating a new decentralized global trade credit marketplace using the Stellar blockchain. The project’s primary disruptive advantage is in providing a liquid credit pool in a trustless and transparent marketplace for supply chain/global trade credit. The need for a custom token is in allowing users to gain access to the platform as well exchange value and provide credit within the ecosystem. The contribution to the blockchain ecosystem is in developing a new blockchain based, global marketplace for trade credit.

Category Breakdown
Blockchain Development

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

3.0
N/A
3 - Automation; making something easier to do.
Disruptive Blockchain Advantage

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

3.0
N/A
3 - Potentially disruptive.
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?

2.0
N/A
2 - Some, mainly network effect.
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.)?

2.0
N/A
2 - Centralized with some plans to decentralize.
Contribution to Blockchain Ecosystem

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

3.0
N/A
3 - Interesting.
Use of Blockchain Score:
2.6

Whitepaper

The whitepaper is professional and informative and provides a balanced mixture of media and textual explanation. The whitepaper is 49 pages in length and is easy to read and understand given the amount of media presented. The whitepaper provides high level information discussing the opportunity, ecosystem, underlying Xnotes blockchain technology, the AXS token, an overview of the AXenS platform and Mesocredit Portal, KYC/AML services, ICO structuring, and the leadership team and business partners. The business and technology plans behind AXenS are detailed and concisely explained including detailed textual and graphical explanations.

Category Breakdown
Comprehensiveness

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

4.0
N/A
4 - Satisfactory coverage, well written.
Readability

Is it easy enough to understand?

4.0
N/A
4 - Easy to read and understand.
Transparency

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

3.0
N/A
3 - Basic honesty with some hype.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

4.0
N/A
4 - Clear, well thought out, realistic.
Technology Presentation

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

4.0
N/A
4 - Clear, well thought out, realistic.
Whitepaper Score:
3.8

Roadmap

A detailed post-ICO roadmap is given however no deadline time frames are attached to each milestone. Obstacles lie ahead as deployment of web-based UI/UX and permissioned blockchain will occur after the ICO. The roadmap provides major milestones and no descriptions of the intermediate steps required to complete each milestone.

Major Future Milestones:
Web-based UI/UX
Lender-side Portal + Borrower-side Portal
Loan Syndication
Secondary Market
Permissioned Data / Document repository Setup (trusted distributed storage + proof-of-existence over Xnotes
blockchain)
Identity Management + KYC
Progressive implementation of the required Supply Chain Digitization processes
Loan Self-Executable Agreement / Smart Contract development (Xnotes-based)
Configuration of SAP Global Trade Services to support AXenS Trade Service
Development of market-making capabilities (for opportunity portal, loan syndication and secondary market)
Developer API to allow third-party apps to interact with AXenS network
SAP-certified backend configuration to comply with financial and logistic regulations
Ongoing listing of AXS tokens in the largest exchanges
Ongoing onboarding of lenders, borrowers and other services providers
Onboarding of the different service providers continues
Rollout of the new functions (e.g. crowd funding) and trade services
Building of custodial and other banking relationships with financial institutions
Move into areas other than SMEs – this would already have been done opportunistically
Securitization of Loans to be sold to third parties freeing up liquidity
Over time, parley AXS into the main medium to tokenize global trade credit, and have it accepted by all parties.

Category Breakdown
Concreteness

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

3.0
N/A
3 - An overall plan, major milestones stated.
Feasibility

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

3.0
N/A
3 - Optimistic.
Vision

Is there a larger, long-term vision?

2.0
N/A
2 - Riding the current wave.
Dependencies (services or capabilities)

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

4.0
N/A
4 - Available and trusted.
Current Position

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

3.0
N/A
3 - Getting there.
Roadmap Score:
3.0

Compliance

The AXS-token’s main utility is as a financial instrument, as it is used for trading, lending, credit, and payment within network, however it also allows access to the platform and community resources. The token smart-contract code is not posted for review and there is no publicly accessible github repo. The whitepaper contains a disclaimer and a discussion of risk factors, and KYC is is enforced with a two-tier whitelisting process that includes ID document upload.
The legal disclaimer states that the tokens are intended for use as functional utility tokens and and come with no warranties. The terms and conditions of the sale aim to absolve the company of any liability regarding the ICO and any problems that may occur, and provide a general statment that the tokens are not to be deemed a security and will comply with all laws in areas which the platform is offered.

Category Breakdown
Token Utility (value through usage)

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

3.0
N/A
3 - Limited or uncertain use cases.
Token as Security (tradable instrument)

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

2.0
N/A
2 - Primarily, with few additional rights.
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?

5.0
N/A
5 - Professional, audited.
Legal Review/Risk Assessment

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

5.0
N/A
5 - Professional and top-tier.
Compliance Score:
3.2

Company and Team

AXenS has an established team with 6 lead team members, 2 advisors, and 6 business partners.
The core team has experience in capital management, commodity trading and trading operation management, supply chain systems, fintech, engineering and IT, QR code based mobile apps, and cryptocurrency projects. Two co-founders (Chairman of the Board and COO) are also co-founders of XNotes.
The advisors have experience with marketing and business, finance and capital management, social entrepreneurship, and technical consulting.
All core team members have verifiable work experience credentials via LinkedIn profiles, however some profiles provide little information. Some members of the team appear to be dedicated to other projects outside of AXenS. (The CTO is also CEO of a SAP delivery center company in Slovakia, Technical Project Manager).
Positives: The core team is well rounded and some core members have experience in cryptocurrency/blockchain/smart-contract projects.
Negatives: Not all members are fully dedicated to the project and there is no lead blockchain developer listed. (Technical Project Manager is a managing partner at DSM Consulting in Ethiopia).

Category Breakdown
Company Stage and Foundation

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

4.0
N/A
4 - Established with some fundraising history.
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?

3.0
N/A
3 - Correlated to project requirements.
Team Skill Set Balance

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

3.0
N/A
3 - Somewhat uncertain, probably okay.
Company and Team Score:
3.4

Token Sale

AXenS Token (AXS)
Total supply: 100 million AXS
Token Price: 1 AXS = 0.50 USD
Soft Cap: 10 million USD
Hard Cap: 50 million USD

Token Allocation
65% Token Sale
25% Team Founders (18 month vesting period and 6 month cliff.)
07% Early AXenS Users Allocatiion
03% Bounty Program

ICO Proceeds Distribution
60% Loan Capacity
15% Tech
10% Operational Costs
05% Legal & Compliance
05% Marketing
05% Incentives

Social Media Presence & Following
There is little community engagment and reception.

Category Breakdown
Raise Amount Max

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

2.0
N/A
2 - Somewhat greedy or unrelated to plans.
Raise Amount Min

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

2.0
N/A
2 - Only loosely related to plans.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

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

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

4.0
N/A
4 - Most tokens sold, vesting periods on kept tokens.
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?

2.0
N/A
2 - Minor exposure and interest, or ambivalent reception.
Token Sale Score:
2.6

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