Finecoin

FineCoin (FINE) the first and safest European Lending platform which aims to offer a digital solution to the everlasting problem of money transactions. FineCoin offer Lending opportunities.

About Finecoin

FineCoin is a cryptocurrency designed to provide passive income, with the goal of becoming the link between all crypto and fiat currencies. The platform will provide users with asset management, exchange, staking coins for monthly interest, and lending. There is very little information on the project’s website and whitepaper, and it appears as though this is planned simply as a coin, wallet, and exchange. Although there is a registration entry on the website, there does not seem to be any functional platform yet. There is no information about the company or team.

Token Sale Use of Blockchain

Product

1.2
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?

1.0
N/A
1 - Tiny or indeterminate.
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?

1.0
N/A
1 - None or indeterminate.

Product

Product is ostensibly a wallet (desktop, web, mobile), an exchange, and a lending platform (website describes four lending tiers). “Our Staking program offers up to 10% monthly returns, for the first 6 months. Our lending program offers up to 48% returns per month. 4 lending tiers different daily interest amounts.” No discernible added value. Not a functional platform yet.

Product Whitepaper

Use of Blockchain

1.0
Use of Blockchain
Blockchain Development

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

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

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

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

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

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

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

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

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

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

Use of Blockchain

No discernible value beyond issuing a coin. Whitepaper advises that exchanging the tokens early on after the ICO is “a good strategy for large investors that participated in the pre-sale to earn quick profits”.

Use of Blockchain Roadmap

Whitepaper

1.6
Whitepaper
Comprehensiveness

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

1.0
N/A
1 - It's a brochure.
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.?

1.0
N/A
1 - Deliberate obfuscation.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

1.0
N/A
1 - Severely lacking.
Technology Presentation

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

1.0
N/A
1 - Severely lacking.

Whitepaper

The whitepaper is actually an 18-slide pitch-deck, with large fonts, lots of pictures, and bullet points. Some details are given regarding the token sale, but none with regard to a long-term business model, platform functionality, or implementation. (Also, they wrote ‘anonimity’, along with low fees, instant transactions, and no single point of failure as benefits).

Whitepaper Compliance

Roadmap

2.2
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.
Feasiblity

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

2.0
N/A
2 - Very ambitious.
Vision

Is there a larger, long-term vision?

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

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

3.0
N/A
3 - Imperfect but available, or using substitutes.
Current Position

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

2.0
N/A
2 - Critical obstacles ahead.

Roadmap

January, 2017 – FineCoin gathers the team and starts planning the projectFebruary, 2017 – First line of code was written
June, 2017 – Funding to ensure FineCoin can reach the ambitious goals
November, 2017 – Beta version was finished and testing started
December, 2017 – All bugs were fixed and pre-ICO date was set
January, 2018 – Launch of FineCoin pre-ICO followed by ICO
February, 2018 – Internal exchange opens (Target price $15), lending program starts (Target price $25), launch of Android and Windows wallet
March, 2018 – Linux, Mac, IOS wallets, and listing on external exchange.
April, 2018 – Listing on CoinMarketcap (Target price $70)
Future Plans: Becoming an intermediary currency; adopting a growing number of currencies to sustain the growth of the lending program.

Roadmap Company and Team

Compliance

1.0
Compliance
Token Utility (value through usage)

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

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

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

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

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

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

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

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

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

1.0
N/A
1 - None available.

Compliance

FineCoin is designed to provide passive income via trade in other crypto and fiat currencies as well as interest from staking and lending. Token does not appear to have any intrinsic utility. Roadmap states launch of exchange and first wallets in Feb 2018, but this is unverifiable and there doesn’t seem to be anything as of yet. No attention to legal and regulatory compliance issues.

Compliance Token Sale

Company and Team

1.0
Company and Team
Company Stage and Foundation

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

1.0
N/A
1 - No registered company yet.
Background of Lead Team Members

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

1.0
N/A
1 - Unverifiable (e.g., no online profiles).
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?

1.0
N/A
1 - Haphazard or uncommitted.
Team Skill Set Relevance

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

1.0
N/A
1 - Unrelated or irrelevant, if any.
Team Skill Set Balance

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

1.0
N/A
1 - Severely skewed.

Company and Team

No team information available. From the FAQ: “We will publicly introduce our team members as well as other information about the company, its headquarters and details of the project in the short-term future. This is because certain members of our team work only for a short timeframe and it would be wise to present to you only the team members that form the core of the team. At this moment your trust and willingness of participation is what will reward you in the best possible way.” Also, “Our whole team is entirely from Europe, and more specifically from: Germany, Italy, Romania, Latvia, Estonia and Bulgaria. We have all come together under one roof to develop the fastest, safest and most user-friendly solution for financial transactions and lending opportunities.”

Company and Team Product

Token Sale

1.4
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?

1.0
N/A
1 - Not clear how funds will be used.
Token Allocation

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

1.0
N/A
1 - Obfuscated, or giving company control of market value.
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?

1.0
N/A
1 - Non-existent, or leaving a bad impression.

Token Sale

Total Supply : 12 million
Pre-ICO will be launched Jan 20 2018, ICO will be launched on Jan 25 2018.
Coin price increases from $0.45 to $1.2 in 5 stages, each with 5 ICO rounds.
Three level referral system: Direct referrals (5% bonus), Second tier referrals (3% bonus), third tier referrals (2% bonus).

Product

Product is ostensibly a wallet (desktop, web, mobile), an exchange, and a lending platform (website describes four lending tiers). “Our Staking program offers up to 10% monthly returns, for the first 6 months. Our lending program offers up to 48% returns per month. 4 lending tiers different daily interest amounts.” No discernible added value. Not a functional platform yet.

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?

1.0
N/A
1 - Tiny or indeterminate.
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?

1.0
N/A
1 - None or indeterminate.
Product Score:
1.2

Use of Blockchain

No discernible value beyond issuing a coin. Whitepaper advises that exchanging the tokens early on after the ICO is “a good strategy for large investors that participated in the pre-sale to earn quick profits”.

Category Breakdown
Blockchain Development

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

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

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

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

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

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

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

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

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

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

Whitepaper

The whitepaper is actually an 18-slide pitch-deck, with large fonts, lots of pictures, and bullet points. Some details are given regarding the token sale, but none with regard to a long-term business model, platform functionality, or implementation. (Also, they wrote ‘anonimity’, along with low fees, instant transactions, and no single point of failure as benefits).

Category Breakdown
Comprehensiveness

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

1.0
N/A
1 - It's a brochure.
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.?

1.0
N/A
1 - Deliberate obfuscation.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

1.0
N/A
1 - Severely lacking.
Technology Presentation

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

1.0
N/A
1 - Severely lacking.
Whitepaper Score:
1.6

Roadmap

January, 2017 – FineCoin gathers the team and starts planning the projectFebruary, 2017 – First line of code was written
June, 2017 – Funding to ensure FineCoin can reach the ambitious goals
November, 2017 – Beta version was finished and testing started
December, 2017 – All bugs were fixed and pre-ICO date was set
January, 2018 – Launch of FineCoin pre-ICO followed by ICO
February, 2018 – Internal exchange opens (Target price $15), lending program starts (Target price $25), launch of Android and Windows wallet
March, 2018 – Linux, Mac, IOS wallets, and listing on external exchange.
April, 2018 – Listing on CoinMarketcap (Target price $70)
Future Plans: Becoming an intermediary currency; adopting a growing number of currencies to sustain the growth of the lending program.

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.
Feasiblity

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

2.0
N/A
2 - Very ambitious.
Vision

Is there a larger, long-term vision?

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

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

3.0
N/A
3 - Imperfect but available, or using substitutes.
Current Position

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

2.0
N/A
2 - Critical obstacles ahead.
Roadmap Score:
2.2

Compliance

FineCoin is designed to provide passive income via trade in other crypto and fiat currencies as well as interest from staking and lending. Token does not appear to have any intrinsic utility. Roadmap states launch of exchange and first wallets in Feb 2018, but this is unverifiable and there doesn’t seem to be anything as of yet. No attention to legal and regulatory compliance issues.

Category Breakdown
Token Utility (value through usage)

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

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

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

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

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

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

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

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

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

1.0
N/A
1 - None available.
Compliance Score:
1.0

Company and Team

No team information available. From the FAQ: “We will publicly introduce our team members as well as other information about the company, its headquarters and details of the project in the short-term future. This is because certain members of our team work only for a short timeframe and it would be wise to present to you only the team members that form the core of the team. At this moment your trust and willingness of participation is what will reward you in the best possible way.” Also, “Our whole team is entirely from Europe, and more specifically from: Germany, Italy, Romania, Latvia, Estonia and Bulgaria. We have all come together under one roof to develop the fastest, safest and most user-friendly solution for financial transactions and lending opportunities.”

Category Breakdown
Company Stage and Foundation

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

1.0
N/A
1 - No registered company yet.
Background of Lead Team Members

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

1.0
N/A
1 - Unverifiable (e.g., no online profiles).
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?

1.0
N/A
1 - Haphazard or uncommitted.
Team Skill Set Relevance

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

1.0
N/A
1 - Unrelated or irrelevant, if any.
Team Skill Set Balance

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

1.0
N/A
1 - Severely skewed.
Company and Team Score:
1.0

Token Sale

Total Supply : 12 million
Pre-ICO will be launched Jan 20 2018, ICO will be launched on Jan 25 2018.
Coin price increases from $0.45 to $1.2 in 5 stages, each with 5 ICO rounds.
Three level referral system: Direct referrals (5% bonus), Second tier referrals (3% bonus), third tier referrals (2% bonus).

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?

1.0
N/A
1 - Not clear how funds will be used.
Token Allocation

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

1.0
N/A
1 - Obfuscated, or giving company control of market value.
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?

1.0
N/A
1 - Non-existent, or leaving a bad impression.
Token Sale Score:
1.4

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