Plentix

Plentix is a decentralized blockchain-based referral platform and application aiming to connect and reward all participants in an online referral program.

About Plentix

Plentix is a decentralized referral ecosystem. It allows users to participate in a wide variety of referral programs from a single platform. Developers that use the Plentix API will also be able to receive compensation for building software modules while increasing platform adoption.

Token Sale Use of Blockchain

Product

3.0
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?

3.0
N/A
3 - Interesting.
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 market for blockchain-related projects that aim to facilitate a decentralized and tokenized referral program is quite competitive. The Plentix whitepaper addresses a few competitors in the document, with particular attention given to ReferralCoins and Reachbird. It is stated that “Plentix’s core value proposition is centered on the development of a stable, scalable, reliable and distributed platform for the referral economy”. However, there is a lack of discussion regarding the value proposition of the token itself. The majority of the discussion focuses on how users will be able to earn tokens, but more information should be provided regarding the value of the token. There is an MVP available through the Plentix website, which is also available on the Plentix GitHub page.

Product Whitepaper

Use of Blockchain

2.4
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?

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?

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.)?

4.0
N/A
4 - Mostly decentralized.
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

PTN is an ERC20 compliant token. The blockchain technology is not particularly innovative, as it is simply using existing blockchain infrastructure to create/exchange tokens. What the PTN tokens will be used for is not discussed in great detail in the whitepaper. The fundamental concept of the platform, as with nearly all referral-based projects, does not require the creation of a custom token.

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?

5.0
N/A
5 - Crystal clear. Enjoyable.
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?

2.0
N/A
2 - Missing critical information.

Whitepaper

The whitepaper is fairly short at 19 pages. The technology plan is presented with low levels of detail. Specific technical information regarding the Plentix API and other aspects of the platform are absent from the whitepaper. The business plan is presented in moderate detail. Minor market research is provided with some discussion regarding the competitive landscape. There is a considerable amount of content that discusses the theoretical use cases of the platform. However, more information should be provided regarding the token model of the platform (token usage, for example). Overall, the whitepaper is visually pleasing but fairly brief.

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?

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 spans from March 2017 to May 2019 and contains moderately low levels of detail. There are 7 milestones (phases) presented. It is stated that the milestones reached thus far include smart contract development, creation of a proof of concept and a minimum viable product. It is stated that the beta version of the platform is set to launch in July 2018 followed by the final release in November 2018.

Roadmap Company and Team

Compliance

1.4
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?

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 or significant discussion regarding compliance and legal considerations of the platform/token sale. It is not explicitly stated whether PTN token should be considered security tokens. It is unknown whether KYC will be used for the token sale and whether particular demographics are prohibited from participating.

Compliance Token Sale

Company and Team

3.4
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?

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?

4.0
N/A
4 - Well suited 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

Plentix is based in Melbourne, Australia and was founded in 2017. The team of 8 individuals are listed in the whitepaper, along with their profile pictures, short descriptions and links to LinkedIn profiles. The majority of the team members have backgrounds in technology, as opposed to business/finance. Investigating the LinkedIn profiles of the C-level executives shows that their stated professional experience aligns with the descriptions given on the Plentix website. Two individuals have experience with blockchain from a research perspective.

Company and Team Product

Token Sale

2.4
Token Sale
Raise Amount Max

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

3.0
N/A
3 - Justifiable.
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?

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 PTN tokens is 1 billion (50% is for the token sale, 20% is for advisors and early adopters, 15% is for the company reserve, 10% is for community development, and 5% is for early investors and strategic partners). Vesting periods are not clearly indicated. The allocation of funds is described in moderate detail (30% is for product development and maintenance, 25% is for business growth and development, 15% is for marketing and customer development, 10% is for the reserve fund, 15% for operational expenses, and 5% for legal fees). The allocation of funds does not change with respect to funding level. The soft cap is unspecified and the hard cap is $10MM USD, where 1 PTN = $0.02 USD. The pre-sale will begin on July 11th, 2018 and the crowd sale will begin on July 25th, 2018.

Product

The market for blockchain-related projects that aim to facilitate a decentralized and tokenized referral program is quite competitive. The Plentix whitepaper addresses a few competitors in the document, with particular attention given to ReferralCoins and Reachbird. It is stated that “Plentix’s core value proposition is centered on the development of a stable, scalable, reliable and distributed platform for the referral economy”. However, there is a lack of discussion regarding the value proposition of the token itself. The majority of the discussion focuses on how users will be able to earn tokens, but more information should be provided regarding the value of the token. There is an MVP available through the Plentix website, which is also available on the Plentix GitHub page.

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?

3.0
N/A
3 - Interesting.
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:
3.0

Use of Blockchain

PTN is an ERC20 compliant token. The blockchain technology is not particularly innovative, as it is simply using existing blockchain infrastructure to create/exchange tokens. What the PTN tokens will be used for is not discussed in great detail in the whitepaper. The fundamental concept of the platform, as with nearly all referral-based projects, does not require the creation of a custom token.

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?

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?

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.)?

4.0
N/A
4 - Mostly decentralized.
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:
2.4

Whitepaper

The whitepaper is fairly short at 19 pages. The technology plan is presented with low levels of detail. Specific technical information regarding the Plentix API and other aspects of the platform are absent from the whitepaper. The business plan is presented in moderate detail. Minor market research is provided with some discussion regarding the competitive landscape. There is a considerable amount of content that discusses the theoretical use cases of the platform. However, more information should be provided regarding the token model of the platform (token usage, for example). Overall, the whitepaper is visually pleasing but fairly brief.

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?

5.0
N/A
5 - Crystal clear. Enjoyable.
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?

2.0
N/A
2 - Missing critical information.
Whitepaper Score:
3.2

Roadmap

The roadmap presented in the whitepaper spans from March 2017 to May 2019 and contains moderately low levels of detail. There are 7 milestones (phases) presented. It is stated that the milestones reached thus far include smart contract development, creation of a proof of concept and a minimum viable product. It is stated that the beta version of the platform is set to launch in July 2018 followed by the final release in November 2018.

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?

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:
3.0

Compliance

The whitepaper does not contain a disclaimer section or significant discussion regarding compliance and legal considerations of the platform/token sale. It is not explicitly stated whether PTN token should be considered security tokens. It is unknown whether KYC will be used for the token sale and whether particular demographics are prohibited from participating.

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?

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:
1.4

Company and Team

Plentix is based in Melbourne, Australia and was founded in 2017. The team of 8 individuals are listed in the whitepaper, along with their profile pictures, short descriptions and links to LinkedIn profiles. The majority of the team members have backgrounds in technology, as opposed to business/finance. Investigating the LinkedIn profiles of the C-level executives shows that their stated professional experience aligns with the descriptions given on the Plentix website. Two individuals have experience with blockchain from a research perspective.

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?

4.0
N/A
4 - Well suited 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:
3.4

Token Sale

The total number of PTN tokens is 1 billion (50% is for the token sale, 20% is for advisors and early adopters, 15% is for the company reserve, 10% is for community development, and 5% is for early investors and strategic partners). Vesting periods are not clearly indicated. The allocation of funds is described in moderate detail (30% is for product development and maintenance, 25% is for business growth and development, 15% is for marketing and customer development, 10% is for the reserve fund, 15% for operational expenses, and 5% for legal fees). The allocation of funds does not change with respect to funding level. The soft cap is unspecified and the hard cap is $10MM USD, where 1 PTN = $0.02 USD. The pre-sale will begin on July 11th, 2018 and the crowd sale will begin on July 25th, 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)?

3.0
N/A
3 - Justifiable.
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?

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:
2.4

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