IQeon

Decentralized gaming PvP platform, allowing players to earn money on their achievements.

About IQeon

IQeon is a gaming platform enabling the generation of player-vs-player (PvP) content, where players can earn IQN tokens, which they can then exchange for fiat or continue to use as an internal currency in games built on the platform.

Token Sale Use of Blockchain

Product

2.0
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?

2.0
N/A
2 - Meh, okay.
Target User Base

Is it mass market or niche?

4.0
N/A
4 - Large audience / wide market.
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

The market for blockchain-related projects targeting the gaming industry is quite saturated. It is stated that the “use of IQeon tokens is consistent with the App Store Review Guidelines and the Google Play Developer Policy”. However, there is no explanation as to how the applications will interact with the blockchain on a technical level. A working demo of a game is available for iOS and Android, and primarily acts as a proof-of-concept for the type of application that can participate in the IQeon ecosystem. The GitHub page is not included on the whitepaper but can be found on the IQeon website and contains close to no activity.

Product Whitepaper

Use of Blockchain

1.6
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 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?

2.0
N/A
2 - Meh, okay.

Use of Blockchain

The IQN token follows the ERC20 protocol. A repository for the smart contracts is available on the GitHub page, but activity is nearly nonexistent. There is no significant need to create a custom token for this platform (other than to generate funds for IQeon). It is stated that by purchasing IQN tokens “you receive an asset [where] the value and liquidity of which will increase with the platform”. The token is primarily a means of exchange within the IQeon ecosystem. The value proposition for the IQN token is quite weak.

Use of Blockchain Roadmap

Whitepaper

2.0
Whitepaper
Comprehensiveness

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

2.0
N/A
2 - Insufficient coverage.
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?

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 looks professional and it is evident that considerable effort has been made to make the document visually appealing. However, upon closer investigation, there are various spelling errors and some sentences that do not make sense. At 34 pages, the document does not provide a significant amount of information, especially considering the number of large figures that are spread throughout. Overall the whitepaper is well organized. The market assessment and platform advantages are discussed in moderate detail, but the business and technology plan presentations are severely lacking.

Whitepaper Compliance

Roadmap

2.2
Roadmap
Concreteness

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

2.0
N/A
2 - Vague, noncommittal.
Feasiblity

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?

2.0
N/A
2 - Not fully available or trustworthy.
Current Position

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

2.0
N/A
2 - Critical obstacles ahead.

Roadmap

The roadmap spans from Q3 2016 to Q4 2019. Many of the milestones reached so far have been related to the construction of the platform’s legal model in various jurisdictions, collecting funds from investors, gathering advisors and partnerships, and developing the proof-of-concept. Further developments include integration of the IQeon platform with the Ethereum blockchain and development of the ecosystem. Overall, the roadmap is quite vague, and is focused on business-related milestones.

Roadmap Company and Team

Compliance

1.6
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?

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

There is a brief section in the whitepaper discussing the ‘legal aspects’ of the platform. However, the language does not seem professional, which is surprising considering that there is a member of the IQeon team with a background in legal support. It is stated that “experienced legal advisors helped IQeon project to create its own concept of mobile games, applications and services that do not meet the criteria of activities subject to regulation and licensing”. A discussion of these particular regulations and licensing and their relation to IQeon is not provided in detail in the whitepaper. Also, there is no disclaimer stating whether IQN tokens should be considered a security.

Compliance Token Sale

Company and Team

3.0
Company and Team
Company Stage and Foundation

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

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

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

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?

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?

4.0
N/A
4 - Good, sufficient for each aspect.

Company and Team

The list of 15 team members are included in the whitepaper along with profile pictures and a short description of proficiencies and professional background. Links to LinkedIn profiles can be found on the IQeon website. The team’s overall skill set is fairly balanced between business and technology. Additionally, the team has individuals with a background in financial consulting, legal support, and smart contract development.

Company and Team Product

Token Sale

3.2
Token Sale
Raise Amount Max

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

4.0
N/A
4 - Well suited to needs and plans.
Raise Amount Min

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

4.0
N/A
4 - Reasonable, sensible.
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

The total number of IQN tokens is 10 million (57% for the public token sale, 13% for the pre-sale 12% for the team, 10% for the bonus fund, 5% for partners and advisors, and 2% for bounties). The soft cap is 2000 ETH and the hard cap is 19000 ETH, where 1 ETH = 325 IQN. The allocation of funds is described in brief detail. The token sale takes place on January 30, 2018 to March 13, 2018.

Product

The market for blockchain-related projects targeting the gaming industry is quite saturated. It is stated that the “use of IQeon tokens is consistent with the App Store Review Guidelines and the Google Play Developer Policy”. However, there is no explanation as to how the applications will interact with the blockchain on a technical level. A working demo of a game is available for iOS and Android, and primarily acts as a proof-of-concept for the type of application that can participate in the IQeon ecosystem. The GitHub page is not included on the whitepaper but can be found on the IQeon website and contains close to no activity.

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?

2.0
N/A
2 - Meh, okay.
Target User Base

Is it mass market or niche?

4.0
N/A
4 - Large audience / wide market.
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:
2.0

Use of Blockchain

The IQN token follows the ERC20 protocol. A repository for the smart contracts is available on the GitHub page, but activity is nearly nonexistent. There is no significant need to create a custom token for this platform (other than to generate funds for IQeon). It is stated that by purchasing IQN tokens “you receive an asset [where] the value and liquidity of which will increase with the platform”. The token is primarily a means of exchange within the IQeon ecosystem. The value proposition for the IQN token is quite weak.

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 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?

2.0
N/A
2 - Meh, okay.
Use of Blockchain Score:
1.6

Whitepaper

The whitepaper looks professional and it is evident that considerable effort has been made to make the document visually appealing. However, upon closer investigation, there are various spelling errors and some sentences that do not make sense. At 34 pages, the document does not provide a significant amount of information, especially considering the number of large figures that are spread throughout. Overall the whitepaper is well organized. The market assessment and platform advantages are discussed in moderate detail, but the business and technology plan presentations are severely lacking.

Category Breakdown
Comprehensiveness

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

2.0
N/A
2 - Insufficient coverage.
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?

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:
2.0

Roadmap

The roadmap spans from Q3 2016 to Q4 2019. Many of the milestones reached so far have been related to the construction of the platform’s legal model in various jurisdictions, collecting funds from investors, gathering advisors and partnerships, and developing the proof-of-concept. Further developments include integration of the IQeon platform with the Ethereum blockchain and development of the ecosystem. Overall, the roadmap is quite vague, and is focused on business-related milestones.

Category Breakdown
Concreteness

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

2.0
N/A
2 - Vague, noncommittal.
Feasiblity

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?

2.0
N/A
2 - Not fully available or trustworthy.
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

There is a brief section in the whitepaper discussing the ‘legal aspects’ of the platform. However, the language does not seem professional, which is surprising considering that there is a member of the IQeon team with a background in legal support. It is stated that “experienced legal advisors helped IQeon project to create its own concept of mobile games, applications and services that do not meet the criteria of activities subject to regulation and licensing”. A discussion of these particular regulations and licensing and their relation to IQeon is not provided in detail in the whitepaper. Also, there is no disclaimer stating whether IQN tokens should be considered a security.

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?

2.0
N/A
2 - Proof of concept or test platform.
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:
1.6

Company and Team

The list of 15 team members are included in the whitepaper along with profile pictures and a short description of proficiencies and professional background. Links to LinkedIn profiles can be found on the IQeon website. The team’s overall skill set is fairly balanced between business and technology. Additionally, the team has individuals with a background in financial consulting, legal support, and smart contract development.

Category Breakdown
Company Stage and Foundation

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

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

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

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?

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?

4.0
N/A
4 - Good, sufficient for each aspect.
Company and Team Score:
3.0

Token Sale

The total number of IQN tokens is 10 million (57% for the public token sale, 13% for the pre-sale 12% for the team, 10% for the bonus fund, 5% for partners and advisors, and 2% for bounties). The soft cap is 2000 ETH and the hard cap is 19000 ETH, where 1 ETH = 325 IQN. The allocation of funds is described in brief detail. The token sale takes place on January 30, 2018 to March 13, 2018.

Category Breakdown
Raise Amount Max

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

4.0
N/A
4 - Well suited to needs and plans.
Raise Amount Min

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

4.0
N/A
4 - Reasonable, sensible.
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:
3.2

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