Beaxy

The All-in-One Cryptocurrency Exchange

About Beaxy

Beaxy aims to be a one-stop shop for all cryptocurrency trading needs, with an intuitive user interface that allows for trading in both crypto and fiat currencies. Beaxy aims to create a convenient, secure, all-in-one platform with a sleek and elegant user experience, and to provide tools, articles, tutorials, and financial services to assist all users in making informed decisions.
Competitors: Kucoin, Binance, Bittrex, GDAX, Gemini, Kraken, Poloniex, Bitfinex, OKEx, CoinMetro, Quifas, Robinhood, Appollo DAE
Uniqueness/Advantages to competition: Little to none.

Token Sale Use of Blockchain

Product

1.8
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?

2.0
N/A
2 - Meh, okay.
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?

1.0
N/A
1 - Many / much better competitors.
Innovation

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

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

Product

Beaxy is meant to be an easy-to-use cryptocurrency exchange platform. There is currently no publicly accessible github repository for the project. The mobile apps, beta dev/testing of the blockchain, and full platform launch are planned for after the ICO (see Roadmap). There is some appeal to the platform as there has been an ever increasing demand for cryptocurrency exchanges. The target user base is very large in-terms of the crypto community, but it is a service that caters only to the crypto community, which is about 5% or less of the current global population. So the target audience is a general one with room to expand as cryptocurrency adoption increases. There is a large amount of competition in this space, with competitors that are very well known and have been very successful. More exchanges are launching almost every month..
Competitors: Kucoin, Binance, Bittrex, GDAX, Gemini, Kraken, Poloniex, Bitfinex, OKEx, CoinMetro, Quifas, Robinhood, Appollo DAE

Product Whitepaper

Use of Blockchain

2.0
Use of Blockchain
Blockchain Development

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

2.0
N/A
2 - Some smart contract functionality.
Disruptive Blockchain Advantage

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

2.0
N/A
2 - Some, but not much.
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?

2.0
N/A
2 - Meh, okay.

Use of Blockchain

The BXY token is ERC-20 standard and is the main utility for transactions, staking rewards, and reduced rates in the Beaxy exchange.
Beaxy’s contribution to blockchain development is in the utilization of the Ethereum blockchain for the creation of a decentralized and transparent cryptocurrency exchange.
The project’s primary disruptive advantage is based on its emphasis on user experience.
The need for a custom token to incentivize platform use and allow users to gain access to the platform and participate in the Beaxy exchange.
The contribution to the blockchain ecosystem is in developing a new decentralized cryptocurrency exchange.

Use of Blockchain Roadmap

Whitepaper

3.2
Whitepaper
Comprehensiveness

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

3.0
N/A
3 - Covers most key issues; a few holes.
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.?

2.0
N/A
2 - Ambiguous non-disclosure.
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?

3.0
N/A
3 - More information required.

Whitepaper

The whitepaper is professional, informative, and provides a balanced mixture of media and textual explanation. The whitepaper is 25 pages long and is overall readable and understandable. The whitepaper includes the following sections: Introduction, Market and Beaxy, Crowdsale Details, Legal Statment and Disclaimers, and the Beaxy Team. The business plan behind Beaxy is detailed and concisely explained including detailed textual and graphical explanations. The technology presentation warrants a more detailed explanation of how the exchange will be capable of scaling when the crypto market expands and the platform becomes more popular. References are provided in foot-note form.

Whitepaper Compliance

Roadmap

2.8
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?

2.0
N/A
2 - Critical obstacles ahead.

Roadmap

A vague project roadmap is given with milestones presented on a quarterly basis. Obstacles lie ahead as development/deployment of the mobile app and final platform will occur after the ICO. The roadmap provides major milestones and no descriptions of the intermediate steps required to complete each milestone.

Platform Roadmap:
2017 Q3 – Beaxy was born
2017 Q4 – ICO Announcement
2018 Q1 – KYC Portal Goes Live
2018 Q2 – Release of Demo ICO
2018 Q3 – Official launch of The Beaxy Platform / Live Chat 24/7 Support / Start Process of Obtaining Licenses for Fiat Currency Support
2018 Q4 – Enabling Public API / Alert Tool / Portfolio Managment / Continue Working on Fiat Integration
2019 Q1 – Advanced chart types / Chart Analysis / Volume Analysis / Drawing Tools / Continue Fiat Integration
2019 Q2 – Mobile Application
2019 Q3 – App Store
2019 Q4 – Fiat integration / Instant Deposit / Over-the-Counter

Roadmap Company and Team

Compliance

1.8
Compliance
Token Utility (value through usage)

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

2.0
N/A
2 - Minimal or contrived.
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?

1.0
N/A
1 - None; ignored.
Legal Review/Risk Assessment

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

3.0
N/A
3 - Semi-professional (e.g. Howey Test)

Compliance

The BXY token is the main utility for transactions, rewards, and reduced rates in the Beaxy exchange. The token smart-contract code is not posted for review and there is no publicly accessible github repo for the project. The whitepaper and token sale document contain a disclaimer and a discussion of risk factors. There is a registration process however there is only an expressed agreement to be in compliance with the laws of the users nation and no verification process is put in place that is KYC/AML compliant. The legal disclaimer states that the tokens are intended for use as functional utility tokens and and come with no warranties and aims 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

2.4
Company and Team
Company Stage and Foundation

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

3.0
N/A
3 - Company structure in place.
Background of Lead Team Members

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

3.0
N/A
3 - Minimally sufficient.
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?

2.0
N/A
2 - Lacking in key areas.
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

Beaxy has an established team with 18 team members.
The core team has experience in software/full-stack development/architecture and engineering, industrial engineering, dedicated servers, high-load cloud environments, web/mobile app automation, IT/customer service, business strategy, affilate marketing, law, finance, graphic design and online advertising.
The are no identified advisors to the project.
All team members have verifiable work experience credentials via LinkedIn profiles, however some profiles provide little information and some members do not even list working for Beaxy. Some members of the team appear to be dedicated to other projects outside of Beaxy.
Positives: The core team is well rounded.
Negatives: Not all members are fully dedicated to the project and no team member has previous work experience with cryptocurrency/blockchain/smart-contract projects..

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?

3.0
N/A
3 - Justifiable.
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?

3.0
N/A
3 - Sufficient company/community interest balance.
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

Beaxy Token (BXY)
Total supply: 100 million BXY
Token Price: If 1 ETH = 1,000 USD then 1 DRONE = 0.05 USD
Hard Cap: $30 million
Min Cap: $5 million

Token Allocation
60% ICO
25% Shareholders
15% Company Reserve

ICO Proceeds Distribution
35% Legal
20% Development
20% Operating Expenses
15% Customer Support
10% PR/Marketing

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

Product

Beaxy is meant to be an easy-to-use cryptocurrency exchange platform. There is currently no publicly accessible github repository for the project. The mobile apps, beta dev/testing of the blockchain, and full platform launch are planned for after the ICO (see Roadmap). There is some appeal to the platform as there has been an ever increasing demand for cryptocurrency exchanges. The target user base is very large in-terms of the crypto community, but it is a service that caters only to the crypto community, which is about 5% or less of the current global population. So the target audience is a general one with room to expand as cryptocurrency adoption increases. There is a large amount of competition in this space, with competitors that are very well known and have been very successful. More exchanges are launching almost every month..
Competitors: Kucoin, Binance, Bittrex, GDAX, Gemini, Kraken, Poloniex, Bitfinex, OKEx, CoinMetro, Quifas, Robinhood, Appollo DAE

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?

2.0
N/A
2 - Meh, okay.
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?

1.0
N/A
1 - Many / much 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:
1.8

Use of Blockchain

The BXY token is ERC-20 standard and is the main utility for transactions, staking rewards, and reduced rates in the Beaxy exchange.
Beaxy’s contribution to blockchain development is in the utilization of the Ethereum blockchain for the creation of a decentralized and transparent cryptocurrency exchange.
The project’s primary disruptive advantage is based on its emphasis on user experience.
The need for a custom token to incentivize platform use and allow users to gain access to the platform and participate in the Beaxy exchange.
The contribution to the blockchain ecosystem is in developing a new decentralized cryptocurrency exchange.

Category Breakdown
Blockchain Development

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

2.0
N/A
2 - Some smart contract functionality.
Disruptive Blockchain Advantage

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

2.0
N/A
2 - Some, but not much.
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?

2.0
N/A
2 - Meh, okay.
Use of Blockchain Score:
2.0

Whitepaper

The whitepaper is professional, informative, and provides a balanced mixture of media and textual explanation. The whitepaper is 25 pages long and is overall readable and understandable. The whitepaper includes the following sections: Introduction, Market and Beaxy, Crowdsale Details, Legal Statment and Disclaimers, and the Beaxy Team. The business plan behind Beaxy is detailed and concisely explained including detailed textual and graphical explanations. The technology presentation warrants a more detailed explanation of how the exchange will be capable of scaling when the crypto market expands and the platform becomes more popular. References are provided in foot-note form.

Category Breakdown
Comprehensiveness

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

3.0
N/A
3 - Covers most key issues; a few holes.
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.?

2.0
N/A
2 - Ambiguous non-disclosure.
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?

3.0
N/A
3 - More information required.
Whitepaper Score:
3.2

Roadmap

A vague project roadmap is given with milestones presented on a quarterly basis. Obstacles lie ahead as development/deployment of the mobile app and final platform will occur after the ICO. The roadmap provides major milestones and no descriptions of the intermediate steps required to complete each milestone.

Platform Roadmap:
2017 Q3 – Beaxy was born
2017 Q4 – ICO Announcement
2018 Q1 – KYC Portal Goes Live
2018 Q2 – Release of Demo ICO
2018 Q3 – Official launch of The Beaxy Platform / Live Chat 24/7 Support / Start Process of Obtaining Licenses for Fiat Currency Support
2018 Q4 – Enabling Public API / Alert Tool / Portfolio Managment / Continue Working on Fiat Integration
2019 Q1 – Advanced chart types / Chart Analysis / Volume Analysis / Drawing Tools / Continue Fiat Integration
2019 Q2 – Mobile Application
2019 Q3 – App Store
2019 Q4 – Fiat integration / Instant Deposit / Over-the-Counter

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?

2.0
N/A
2 - Critical obstacles ahead.
Roadmap Score:
2.8

Compliance

The BXY token is the main utility for transactions, rewards, and reduced rates in the Beaxy exchange. The token smart-contract code is not posted for review and there is no publicly accessible github repo for the project. The whitepaper and token sale document contain a disclaimer and a discussion of risk factors. There is a registration process however there is only an expressed agreement to be in compliance with the laws of the users nation and no verification process is put in place that is KYC/AML compliant. The legal disclaimer states that the tokens are intended for use as functional utility tokens and and come with no warranties and aims 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)?

2.0
N/A
2 - Minimal or contrived.
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?

1.0
N/A
1 - None; ignored.
Legal Review/Risk Assessment

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

3.0
N/A
3 - Semi-professional (e.g. Howey Test)
Compliance Score:
1.8

Company and Team

Beaxy has an established team with 18 team members.
The core team has experience in software/full-stack development/architecture and engineering, industrial engineering, dedicated servers, high-load cloud environments, web/mobile app automation, IT/customer service, business strategy, affilate marketing, law, finance, graphic design and online advertising.
The are no identified advisors to the project.
All team members have verifiable work experience credentials via LinkedIn profiles, however some profiles provide little information and some members do not even list working for Beaxy. Some members of the team appear to be dedicated to other projects outside of Beaxy.
Positives: The core team is well rounded.
Negatives: Not all members are fully dedicated to the project and no team member has previous work experience with cryptocurrency/blockchain/smart-contract projects..

Category Breakdown
Company Stage and Foundation

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

3.0
N/A
3 - Company structure in place.
Background of Lead Team Members

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

3.0
N/A
3 - Minimally sufficient.
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?

2.0
N/A
2 - Lacking in key areas.
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:
2.4

Token Sale

Beaxy Token (BXY)
Total supply: 100 million BXY
Token Price: If 1 ETH = 1,000 USD then 1 DRONE = 0.05 USD
Hard Cap: $30 million
Min Cap: $5 million

Token Allocation
60% ICO
25% Shareholders
15% Company Reserve

ICO Proceeds Distribution
35% Legal
20% Development
20% Operating Expenses
15% Customer Support
10% PR/Marketing

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?

3.0
N/A
3 - Justifiable.
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?

3.0
N/A
3 - Sufficient company/community interest balance.
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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