Mainframe

A decentralized network for censorship-resistant message routing.

About Mainframe

Mainframe is a platform that facilitates decentralized, secure, and private communication and data sharing. It is stated that “packet encryption is an integral part of Mainframe’s transport protocols and cannot be circumvented”. MFT tokens are used to incentivize network operators and as a medium of exchange for goods and services sold on the Mainframe platform.

Token Sale Use of Blockchain

Product

2.8
Product
Readiness

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

3.0
N/A
3 - Prototype / MVP / alpha.
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?

3.0
N/A
3 - Some normal competition.
Innovation

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

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

Product

The level of competition that Mainframe faces as it aims to become widely adopted as a communications platform is quite high. An alpha release of Onyx, the first application built on the Mainframe platform, is available for download on the website. While the project’s concept is not particularly innovative, Mainframe is one of the few organizations that already have a working product.

Product Whitepaper

Use of Blockchain

3.2
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.)?

5.0
N/A
5 - Fully decentralized.
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

MFT is an ERC20 compliant token. Network operators are rewarded with MFT tokens, which are also used as a means of exchange in marketplaces on the platform. It is stated that the Mainframe network allows for interoperability and will eventually be capable of being implemented with any application, network, or blockchain. However, more content should be included in the documentation discussing the value proposition of the token. As it is, the entirety of the content regarding token utility is given in 5 bullet points (only one of which – medium of exchange – is a use case that does not involve operational incentivization).

Use of Blockchain Roadmap

Whitepaper

3.0
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?

3.0
N/A
3 - Readable, takes some time.
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?

2.0
N/A
2 - Missing critical information.
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 moderate in length at 35 pages. The technical discussion is fairly comprehensive and has a good balance between readability and inclusion of specific technical details of the platform. In comparison, the business plan presentation is not as thorough. Market research consists of a qualitative assessment of the current landscape of communications technology and lacks quantitative comparisons with existing solutions that utilize blockchain technology. Details of the token sale are omitted from the document and are discussed on the organization’s blog. Overall, the whitepaper is fairly thorough from a technological perspective and visually appealing, but lacks business-related specifics.

Whitepaper Compliance

Roadmap

2.8
Roadmap
Concreteness

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

2.0
N/A
2 - Vague, noncommittal.
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?

3.0
N/A
3 - A trend with potential.
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?

3.0
N/A
3 - Getting there.

Roadmap

The roadmap presented in the whitepaper does not provide expected timelines and only discusses three milestones: Apollo (building the infrastructure), Hawthorne (incentivization with incentivized packet routing, including node service discovery, functional swap contracts and invoicing), and Gettysburg (full incentivization of all protocol layers and continuing to develop a fully-decentralized communications platform). Each milestone is accompanied by a discussion giving more details.

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?

3.0
N/A
3 - Prototype / MVP / alpha.
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

The whitepaper does not contain a disclaimer section and there is a lack of discussion regarding legal and compliance considerations. The organization’s blog states that the MFT are utility tokens (there is a lack of professionalism in this regard).

Compliance Token Sale

Company and Team

3.2
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?

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

The 12 team members are listed on the Mainframe website, along with their profile pictures, short descriptions and links to social media profiles. Nearly all individuals with a technical background include a link to their GitHub profiles. There is an appropriate balance between individuals with a technical and business background. There seems to be a lack of individuals on the team that have had experience with blockchain related projects.

Company and Team Product

Token Sale

1.8
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?

1.0
N/A
1 - None or nonsensical.
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?

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

Information regarding the token sale can be found through the Mainframe blog: https://blog.mainframe.com/mainframe-token-generation-event-ad775f509871. The total number of MFT tokens is 10 billion (50% are for sale, 25% are for the company, and 25% are allocated to fostering growth and adoption). Vesting periods are clearly outlined. The allocation of funds is not discussed. The soft cap is unspecified and the hard cap is 30,000 ETH.

Product

The level of competition that Mainframe faces as it aims to become widely adopted as a communications platform is quite high. An alpha release of Onyx, the first application built on the Mainframe platform, is available for download on the website. While the project’s concept is not particularly innovative, Mainframe is one of the few organizations that already have a working product.

Category Breakdown
Readiness

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

3.0
N/A
3 - Prototype / MVP / alpha.
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?

3.0
N/A
3 - Some normal competition.
Innovation

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

2.0
N/A
2 - Some, but nothing outstanding.
Product Score:
2.8

Use of Blockchain

MFT is an ERC20 compliant token. Network operators are rewarded with MFT tokens, which are also used as a means of exchange in marketplaces on the platform. It is stated that the Mainframe network allows for interoperability and will eventually be capable of being implemented with any application, network, or blockchain. However, more content should be included in the documentation discussing the value proposition of the token. As it is, the entirety of the content regarding token utility is given in 5 bullet points (only one of which – medium of exchange – is a use case that does not involve operational incentivization).

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.)?

5.0
N/A
5 - Fully decentralized.
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:
3.2

Whitepaper

The whitepaper is moderate in length at 35 pages. The technical discussion is fairly comprehensive and has a good balance between readability and inclusion of specific technical details of the platform. In comparison, the business plan presentation is not as thorough. Market research consists of a qualitative assessment of the current landscape of communications technology and lacks quantitative comparisons with existing solutions that utilize blockchain technology. Details of the token sale are omitted from the document and are discussed on the organization’s blog. Overall, the whitepaper is fairly thorough from a technological perspective and visually appealing, but lacks business-related specifics.

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?

3.0
N/A
3 - Readable, takes some time.
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?

2.0
N/A
2 - Missing critical information.
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:
3.0

Roadmap

The roadmap presented in the whitepaper does not provide expected timelines and only discusses three milestones: Apollo (building the infrastructure), Hawthorne (incentivization with incentivized packet routing, including node service discovery, functional swap contracts and invoicing), and Gettysburg (full incentivization of all protocol layers and continuing to develop a fully-decentralized communications platform). Each milestone is accompanied by a discussion giving more details.

Category Breakdown
Concreteness

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

2.0
N/A
2 - Vague, noncommittal.
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?

3.0
N/A
3 - A trend with potential.
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?

3.0
N/A
3 - Getting there.
Roadmap Score:
2.8

Compliance

The whitepaper does not contain a disclaimer section and there is a lack of discussion regarding legal and compliance considerations. The organization’s blog states that the MFT are utility tokens (there is a lack of professionalism in this regard).

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?

3.0
N/A
3 - Prototype / MVP / alpha.
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:
1.8

Company and Team

The 12 team members are listed on the Mainframe website, along with their profile pictures, short descriptions and links to social media profiles. Nearly all individuals with a technical background include a link to their GitHub profiles. There is an appropriate balance between individuals with a technical and business background. There seems to be a lack of individuals on the team that have had experience with blockchain related 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?

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:
3.2

Token Sale

Information regarding the token sale can be found through the Mainframe blog: https://blog.mainframe.com/mainframe-token-generation-event-ad775f509871. The total number of MFT tokens is 10 billion (50% are for sale, 25% are for the company, and 25% are allocated to fostering growth and adoption). Vesting periods are clearly outlined. The allocation of funds is not discussed. The soft cap is unspecified and the hard cap is 30,000 ETH.

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?

1.0
N/A
1 - None or nonsensical.
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?

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:
1.8

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