Modex

Modex is a Smart Contract Marketplace and app ecosystem that allows for easy, user friendly access to crypto-currencies and smart contracts alike.

About Modex

Modex aims to provide developers and businesses with an easy to use Smart Contract Marketplace and and app ecosystem, enabling developers to monetize their skills through offering smart contract solutions, and businesses to easily find peer-reviewed and security-audited smart contracts that meet their needs.

Token Sale Use of Blockchain

Product

2.2
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?

1.0
N/A
1 - None or indeterminate.

Product

Modex offers a Smart Contract Marketplace which has four main components: Plug-and-Play Smart Contracts (ready-made, peer reviewed and pen tested), Custom Smart Contracts (marketplace for contracting developers), a Simple Smart Contract Customization Tool (allowing non-programmers to build basic smart contracts with some customization), and App Integrations (including payment apps for merchant payment gateway, M3 Payments, and a multi-currency mobile payments wallet Moneymailme).

The Modex Smart Contract Marketplace will start by focusing on Ethereum based smart contracts. Over time Modex plans to add the ability to support various other protocols such as Waves, Coco, Komodo, Ark.

Currently available on the Alpha App / DApp Marketplace (notably only one app indicates a single download April 15, 2018):

Free Apps:
1.) Letter of credit
2.) Document tracking (the only app to indicate a download (1))
3.) Asset tracking
4.) WhoBetsMore Game
5.) Task management
6.) Proxy Payments
7.) Term deposit
8.) ETH salary pay
9.) TimeIn – TimeOut Employees
10.) Safe purchase and sale
11.) Open auction
12.) Blind auction

Paid Apps:
Linkedin bot – 200 MODEX
Twitter bot – 200 MODEX
Facebook bot – 200 MODEX
Instagram bot – 200 MODEX
Slack bot – 100 MODEX
APNS Push Service – 100 MODEX
Hotdog or not hotdog – 200 MODEX
Arbitrary code execution (java) – 300 MODEX
Arbitrary code execution (golang) – 300 MODEX
Arbitrary code execution (ruby) – 300 MODEX
Classification AI – pictures – 300 MODEX
Classification AI – brands – 100 MODEX
Classification AI – words – 100 MODEX

Buried in the whitepaper Modex also offers both virtual and physical cards in the currency of choice through the MODEX wallet. The Modex Card and Wallet will integrate with Moneymailme. Modex claims the cards can be used in 180 countries with 10 crypto and fiat currencies enabled and more currencies to follow. Modex also offers a micro-lending process for peer-to-peer loans, in partnership with Moneymailme.

Competition looms form existing incumbent app stores such as the IOS app store or Google and Windows app stores. These competitors enjoy somewhat or a monopoly in the fact the users are self- generative via their cellphone(s) and computer hardware(s). Modex will not enjoy the same advantage. There is also a host of other blockchain exclusive app stores such as alax, Appian, Spheris, and more.

Product Whitepaper

Use of Blockchain

2.2
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?

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.)?

3.0
N/A
3 - Hybrid; decentralized as far as circumstances allow.
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

Modex aims to provide developers and businesses an easy to use Smart Contract Marketplace with plug-and-play smart contracts, the ability to contract development of custom smart contracts, a simple smart contract customization tool, and payment app integrations.

The Modex Smart Contract Marketplace will start by focusing on Ethereum based smart contracts. Over time Modex plans to add the ability to support various other protocols such as Waves, Coco, Komodo, Ark.

Modex-Ltd is an ERC20 compliant token intended for interaction within the marketplace and to serve the following functions:
● Pay platform fees
● Pay platform service fees
● Pay product fees
● Make smart contract purchases
● Gain access to a complete suite of API’s for decentralized transactions.
● Oracle services and validation of smart contracts

Use of Blockchain Roadmap

Whitepaper

2.8
Whitepaper
Comprehensiveness

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

2.0
N/A
2 - Insufficient coverage.
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?

3.0
N/A
3 - More information required.
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 white paper is readable but takes some time (60 pages) and is not fully comprehensive. The document does not relate the end-user feel and usability, which is critical to an app / DApp marketplace. The whitepaper lacks links to demos and/or screenshots of the actual marketplace.
The business plan is as follows: Buyers will pay MODEX tokens for access to the platform, smart contracts, developers, and reviewers. Stakeholders will be rewarded with MODEX tokens for developing contracts or for auditing other people’s work. Modex will also charge platform usage fees in a combined model of pay-per-usage and subscriptions. With regard to the fees Modex states “The total fee will be at most 30% but might be lower based on how often the contract is used, how many contributions the developer has made in the past, etc.”
The technology presentation is limited.

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?

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?

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

Modex is currently in the public Alpha and fundraising stages of development. – “Platform required investment as well as coverage of operational expenses would be first to be funded from the ICO, potential client’s solutions, Marketing and other activities will depend directly on the success of the ICO starting in April.”

Currently available on the Alpha App / DApp Marketplace (notably only one app indicates a single download April 15, 2018):

Free Apps:
1.) Letter of credit
2.) Document tracking (the only app to indicate a download (1))
3.) Asset tracking
4.) WhoBetsMore Game
5.) Task management
6.) Proxy Payments
7.) Term deposit
8.) ETH salary pay
9.) TimeIn – TimeOut Employees
10.) Safe purchase and sale
11.) Open auction
12.) Blind auction

Paid Apps:
Linkedin bot – 200 MODEX
Twitter bot – 200 MODEX
Facebook bot – 200 MODEX
Instagram bot – 200 MODEX
Slack bot – 100 MODEX
APNS Push Service – 100 MODEX
Hotdog or not hotdog – 200 MODEX
Arbitrary code execution (java) – 300 MODEX
Arbitrary code execution (golang) – 300 MODEX
Arbitrary code execution (ruby) – 300 MODEX
Classification AI – pictures – 300 MODEX
Classification AI – brands – 100 MODEX
Classification AI – words – 100 MODEX

Roadmap:
Q1 2018: Private Alpha, Launch Developer Module, Launch Customer Module, Apla testing
Q2 2018: Launch Public Alpha, Developer and Customer Modules V.1
Q3 2018: Scale up Alpha, API platform V.0, Blockchain Knowledge Module, Community Module, Enhance Blockchain Tools V.1
Q4 2018: Launch Public Beta, API Platform V.1, Bounties Module V.0, DApps Module V.0
2019: Launch the first full version, Developer Module V.2, Customer Module V.2, Enhanced Blockchain tools V.2, DApps Module V.1, Blockchain Knowledge Module V.1, Community Module V.1, Bounties Module V.1, Add 3 Blockchain protocols, Startups Module V.0 and V.1, Projects Module V.0, Enterprise Module V.0
2020:Launch the upgraded version, Startups Module V.2, Bounties Module V.2, Projects Module V.1, DApps Module V.2, Enterprise Module V.1, Blockchain Knowledge Module V.2, Community Module V.2, Add 5 Blockchain protocols

Roadmap Company and Team

Compliance

2.2
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?

3.0
N/A
3 - Partly; compliance not fully assured.
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?

2.0
N/A
2 - Minimal, superficial or hackneyed.
Legal Review/Risk Assessment

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

2.0
N/A
2 - Insufficient or unprofessional.

Compliance

Token utility: The Modex token is intended to serve the following functions:
● Pay platform fees
● Pay platform service fees
● Pay product fees
● Make smart contract purchases
● Gain access to a complete suite of API’s for decentralized transactions.
● Oracle services and validation of smart contracts

The legal review (18 pages) is unprofessional, unorganized, and repetitive. There are several risk disclosures and the terms and conditions are found on a separate document, not included within the Whitepaper itself. There are excessive releases and limitations of liability, waivers of arbitrations, class actions and representative actions. There are adequate KYC disclosures and the requirements and steps to participate are clearly stated. However, there are strict regional restrictions (listed on pg.45). Further Modex states “The Company has NOT taken any other legal advice in any other jurisdiction (other than Gibraltar). As such, it is possible that the Company’s MODEX tokens described in this White Paper and which are the subject of the Token Sale (the “Tokens”) may comprise a security in your jurisdiction.” Modex offers more textual volume in regards to risk disclosers, indemnifications, and one-sided terms and conditions than they offer in regards to their actual product. (Sketchy)

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

MODEX (Gibraltar) LIMITED has a large, well assembled team with 24 members and 16 advisors. The Gibraltar SPV know as the Token Issuance Company will be the holder of the funds raised in the Modex pre sale(s) and token sale. The background and skillset of the team is relevant as the team possesses a breadth of experience. Each member has a brief description and links to LinkedIn profiles are easily accessible.

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)?

1.0
N/A
1 - Very greedy (e.g. uncapped).
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?

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?

2.0
N/A
2 - Unclear or suspicious.
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

Hard Cap: – none
Soft Cap: – none

Vesting Periods:
20% on issuance of MODEX Tokens to employees, at the same time that the pre-sale contributors receive their tokens,
– 20% after 3 months,
– 20% after 6 months,
– 20% after 9 months and
– 20% after 12 months.

Distribution:
12% of total tokens will be allotted to the Team and Advisors, 46% of the total tokens will be held by the company as a token reserve. The remaining distribution is not delineated.

Allocation:
The allocation is curiously denominated in dollars rather than percentages.
59.8M – Moved to FIAT or other Crypto to support Operational Expenses, Business Development, Marketing, etc.
47.2M – Total kept in MODEX token (not including Reserve Tokens)
26.7M – Total kept in MODEX token (not including Reserve Tokens)
17,8M – Market development & Education: Purchasing partner blockchain tokens to incentivize developers building for those protocols and sponsor hackatons, education campaigns, etc.
2.6M – Market movement incentive: if there is a shortage of available tokens for companies to buy in order to pay the platform and smart contract fees.

Product

Modex offers a Smart Contract Marketplace which has four main components: Plug-and-Play Smart Contracts (ready-made, peer reviewed and pen tested), Custom Smart Contracts (marketplace for contracting developers), a Simple Smart Contract Customization Tool (allowing non-programmers to build basic smart contracts with some customization), and App Integrations (including payment apps for merchant payment gateway, M3 Payments, and a multi-currency mobile payments wallet Moneymailme).

The Modex Smart Contract Marketplace will start by focusing on Ethereum based smart contracts. Over time Modex plans to add the ability to support various other protocols such as Waves, Coco, Komodo, Ark.

Currently available on the Alpha App / DApp Marketplace (notably only one app indicates a single download April 15, 2018):

Free Apps:
1.) Letter of credit
2.) Document tracking (the only app to indicate a download (1))
3.) Asset tracking
4.) WhoBetsMore Game
5.) Task management
6.) Proxy Payments
7.) Term deposit
8.) ETH salary pay
9.) TimeIn – TimeOut Employees
10.) Safe purchase and sale
11.) Open auction
12.) Blind auction

Paid Apps:
Linkedin bot – 200 MODEX
Twitter bot – 200 MODEX
Facebook bot – 200 MODEX
Instagram bot – 200 MODEX
Slack bot – 100 MODEX
APNS Push Service – 100 MODEX
Hotdog or not hotdog – 200 MODEX
Arbitrary code execution (java) – 300 MODEX
Arbitrary code execution (golang) – 300 MODEX
Arbitrary code execution (ruby) – 300 MODEX
Classification AI – pictures – 300 MODEX
Classification AI – brands – 100 MODEX
Classification AI – words – 100 MODEX

Buried in the whitepaper Modex also offers both virtual and physical cards in the currency of choice through the MODEX wallet. The Modex Card and Wallet will integrate with Moneymailme. Modex claims the cards can be used in 180 countries with 10 crypto and fiat currencies enabled and more currencies to follow. Modex also offers a micro-lending process for peer-to-peer loans, in partnership with Moneymailme.

Competition looms form existing incumbent app stores such as the IOS app store or Google and Windows app stores. These competitors enjoy somewhat or a monopoly in the fact the users are self- generative via their cellphone(s) and computer hardware(s). Modex will not enjoy the same advantage. There is also a host of other blockchain exclusive app stores such as alax, Appian, Spheris, and more.

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?

1.0
N/A
1 - None or indeterminate.
Product Score:
2.2

Use of Blockchain

Modex aims to provide developers and businesses an easy to use Smart Contract Marketplace with plug-and-play smart contracts, the ability to contract development of custom smart contracts, a simple smart contract customization tool, and payment app integrations.

The Modex Smart Contract Marketplace will start by focusing on Ethereum based smart contracts. Over time Modex plans to add the ability to support various other protocols such as Waves, Coco, Komodo, Ark.

Modex-Ltd is an ERC20 compliant token intended for interaction within the marketplace and to serve the following functions:
● Pay platform fees
● Pay platform service fees
● Pay product fees
● Make smart contract purchases
● Gain access to a complete suite of API’s for decentralized transactions.
● Oracle services and validation of smart contracts

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?

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.)?

3.0
N/A
3 - Hybrid; decentralized as far as circumstances allow.
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:
2.2

Whitepaper

The white paper is readable but takes some time (60 pages) and is not fully comprehensive. The document does not relate the end-user feel and usability, which is critical to an app / DApp marketplace. The whitepaper lacks links to demos and/or screenshots of the actual marketplace.
The business plan is as follows: Buyers will pay MODEX tokens for access to the platform, smart contracts, developers, and reviewers. Stakeholders will be rewarded with MODEX tokens for developing contracts or for auditing other people’s work. Modex will also charge platform usage fees in a combined model of pay-per-usage and subscriptions. With regard to the fees Modex states “The total fee will be at most 30% but might be lower based on how often the contract is used, how many contributions the developer has made in the past, etc.”
The technology presentation is limited.

Category Breakdown
Comprehensiveness

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

2.0
N/A
2 - Insufficient coverage.
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?

3.0
N/A
3 - More information required.
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:
2.8

Roadmap

Modex is currently in the public Alpha and fundraising stages of development. – “Platform required investment as well as coverage of operational expenses would be first to be funded from the ICO, potential client’s solutions, Marketing and other activities will depend directly on the success of the ICO starting in April.”

Currently available on the Alpha App / DApp Marketplace (notably only one app indicates a single download April 15, 2018):

Free Apps:
1.) Letter of credit
2.) Document tracking (the only app to indicate a download (1))
3.) Asset tracking
4.) WhoBetsMore Game
5.) Task management
6.) Proxy Payments
7.) Term deposit
8.) ETH salary pay
9.) TimeIn – TimeOut Employees
10.) Safe purchase and sale
11.) Open auction
12.) Blind auction

Paid Apps:
Linkedin bot – 200 MODEX
Twitter bot – 200 MODEX
Facebook bot – 200 MODEX
Instagram bot – 200 MODEX
Slack bot – 100 MODEX
APNS Push Service – 100 MODEX
Hotdog or not hotdog – 200 MODEX
Arbitrary code execution (java) – 300 MODEX
Arbitrary code execution (golang) – 300 MODEX
Arbitrary code execution (ruby) – 300 MODEX
Classification AI – pictures – 300 MODEX
Classification AI – brands – 100 MODEX
Classification AI – words – 100 MODEX

Roadmap:
Q1 2018: Private Alpha, Launch Developer Module, Launch Customer Module, Apla testing
Q2 2018: Launch Public Alpha, Developer and Customer Modules V.1
Q3 2018: Scale up Alpha, API platform V.0, Blockchain Knowledge Module, Community Module, Enhance Blockchain Tools V.1
Q4 2018: Launch Public Beta, API Platform V.1, Bounties Module V.0, DApps Module V.0
2019: Launch the first full version, Developer Module V.2, Customer Module V.2, Enhanced Blockchain tools V.2, DApps Module V.1, Blockchain Knowledge Module V.1, Community Module V.1, Bounties Module V.1, Add 3 Blockchain protocols, Startups Module V.0 and V.1, Projects Module V.0, Enterprise Module V.0
2020:Launch the upgraded version, Startups Module V.2, Bounties Module V.2, Projects Module V.1, DApps Module V.2, Enterprise Module V.1, Blockchain Knowledge Module V.2, Community Module V.2, Add 5 Blockchain protocols

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?

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?

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:
3.0

Compliance

Token utility: The Modex token is intended to serve the following functions:
● Pay platform fees
● Pay platform service fees
● Pay product fees
● Make smart contract purchases
● Gain access to a complete suite of API’s for decentralized transactions.
● Oracle services and validation of smart contracts

The legal review (18 pages) is unprofessional, unorganized, and repetitive. There are several risk disclosures and the terms and conditions are found on a separate document, not included within the Whitepaper itself. There are excessive releases and limitations of liability, waivers of arbitrations, class actions and representative actions. There are adequate KYC disclosures and the requirements and steps to participate are clearly stated. However, there are strict regional restrictions (listed on pg.45). Further Modex states “The Company has NOT taken any other legal advice in any other jurisdiction (other than Gibraltar). As such, it is possible that the Company’s MODEX tokens described in this White Paper and which are the subject of the Token Sale (the “Tokens”) may comprise a security in your jurisdiction.” Modex offers more textual volume in regards to risk disclosers, indemnifications, and one-sided terms and conditions than they offer in regards to their actual product. (Sketchy)

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?

3.0
N/A
3 - Partly; compliance not fully assured.
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?

2.0
N/A
2 - Minimal, superficial or hackneyed.
Legal Review/Risk Assessment

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

2.0
N/A
2 - Insufficient or unprofessional.
Compliance Score:
2.2

Company and Team

MODEX (Gibraltar) LIMITED has a large, well assembled team with 24 members and 16 advisors. The Gibraltar SPV know as the Token Issuance Company will be the holder of the funds raised in the Modex pre sale(s) and token sale. The background and skillset of the team is relevant as the team possesses a breadth of experience. Each member has a brief description and links to LinkedIn profiles are easily accessible.

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

Hard Cap: – none
Soft Cap: – none

Vesting Periods:
20% on issuance of MODEX Tokens to employees, at the same time that the pre-sale contributors receive their tokens,
– 20% after 3 months,
– 20% after 6 months,
– 20% after 9 months and
– 20% after 12 months.

Distribution:
12% of total tokens will be allotted to the Team and Advisors, 46% of the total tokens will be held by the company as a token reserve. The remaining distribution is not delineated.

Allocation:
The allocation is curiously denominated in dollars rather than percentages.
59.8M – Moved to FIAT or other Crypto to support Operational Expenses, Business Development, Marketing, etc.
47.2M – Total kept in MODEX token (not including Reserve Tokens)
26.7M – Total kept in MODEX token (not including Reserve Tokens)
17,8M – Market development & Education: Purchasing partner blockchain tokens to incentivize developers building for those protocols and sponsor hackatons, education campaigns, etc.
2.6M – Market movement incentive: if there is a shortage of available tokens for companies to buy in order to pay the platform and smart contract fees.

Category Breakdown
Raise Amount Max

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

1.0
N/A
1 - Very greedy (e.g. uncapped).
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?

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?

2.0
N/A
2 - Unclear or suspicious.
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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