Provoco

Provoco will give financial incentives to create, accept, accomplish and forward various challenges for noble or game causes, while creating a lot of engaging activities and viral content for everybody.

About Provoco

PROVOCO aims to become a social media platform with a “more fair, transparent business model” compared to popular social media platforms today. There are two types of users on the platform: players and watchers. Players are encouraged (or provoked) to take on challenges and share them with other watchers while getting rewarded with VOCO tokens. The platform will use a cryptocurrency-based rewards system. VOCO tokens will be to reward players and also to access marketing tools and services.

Token Sale Use of Blockchain

Product

2.4
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?

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

Product

PROVOCO aims to become the most popular social media platform, focused on challenges and achievements and empowered by blockchain technology. PROVOCO faces considerable competition as a social media platform, both from traditional platforms and those that are aiming to use blockchain technology. A proof-of-concept can be found through the PROVOCO website. The GitHub page is also provided, and shows moderate levels of content and activity.

Product Whitepaper

Use of Blockchain

3.0
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.)?

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?

3.0
N/A
3 - Interesting.

Use of Blockchain

VOCO is an ERC223 compliant token and is used as a reward for completing challenges and attracting watchers, as well as to access marketing services. There is a specific section in the document that outlines the need to create a custom token. The justification for creating a custom token is not particularly convincing, as the reasons also apply to Ether. It is stated that content on the platform will be regulated and governed by the users via a voting mechanism, which is discussed fairly thoroughly in the whitepaper.

Use of Blockchain Roadmap

Whitepaper

3.6
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?

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.?

4.0
N/A
4 - Informative disclosure.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

4.0
N/A
4 - Clear, well thought out, realistic.
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 whitepaper is 38 pages in length. The technology plan is presented with moderate levels of detail. The technical overview is somewhat generic but the governance structure and voting mechanism is discussed with high levels of detail. The business plan is quite comprehensive. The market evaluation consists of an overall assessment of the current state of social media as well as a comparison between PROVOCO and its blockchain-focused competitors. There is a specific section that outlines the token economy. There is also extensive discussion of the use-cases of the token. More detail could be provided for some aspects of the platform, such as the premium services, which are purchased with VOCO tokens. Overall, the whitepaper is easy to read and fairly comprehensive.

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?

4.0
N/A
4 - Realistic.
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?

2.0
N/A
2 - Critical obstacles ahead.

Roadmap

The roadmap on the PROVOCO website spans from Q2 2017 to Q1 2021. There are 15 milestones presented, 6 of which have already been achieved, including the development of the application wireframe and the launch of the proof-of-concept. It is stated that voting functionality will be implemented in Q3 2018 and that the application is set to be released to the public in Q1 2019. The open-source launch of the platform is planned for Q1 2021.

Roadmap Company and Team

Compliance

2.4
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?

3.0
N/A
3 - Limited to blanket standard.
Legal Review/Risk Assessment

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

3.0
N/A
3 - Semi-professional (e.g. Howey Test)

Compliance

There is a section towards the end of the document that spans approximately 6 pages and contains discussion regarding the legal considerations of the platform and token sale. It is stated that “VOCO are cryptographic tokens created for access of PROVOCO’s products and services. However, there are no guarantees of their future use or value which can be zero”. There is also discussion regarding the parties with whom PROVOCO may share user information (e.g., cookies, log files, device identifiers, location and usage data) – this includes business partners and affiliates, third-party organizations and advertisers, and anonymized data with other parties. Residents from the Unites States of America, People’s Republic of China (excluding Hong Kong and Taiwan), and/or South Korea are not permitted to participate in the token sale.

Compliance Token Sale

Company and Team

2.8
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?

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?

2.0
N/A
2 - Somewhat skewed.

Company and Team

The core team of 23 individuals is listed on the PROVOCO website, along with their profile pictures, short descriptions and links to LinkedIn profiles. The skill set of the core team is comprised mainly of backgrounds in business and design. There are approximately 6 team members with a technical role. Investigating the LinkedIn profiles of the C-level executives show that all the lead team members are concurrently involved with other organizations. Thus, the level of commitment to the project is uncertain.

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)?

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?

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 VOCO tokens is 100 million (51% is for sale, 16% is for the VOCO fund, 15% is for operations, 12% is for the team and advisors, and 6% is for the community). The allocation of funds is described with moderate detail. An infographic is used to display the budget allocation and shows the allocation of funds at different funding levels. The two primary categories for budget allocation are development and marketing. The soft cap is 5 million VOCO and the hard cap is 51 million VOCO, where 1 ETH = 1330 VOCO. Unsold tokens will be burned. The token sale will use the DAICO fundraising model, increasing transparency compared to typical ICOs.

Product

PROVOCO aims to become the most popular social media platform, focused on challenges and achievements and empowered by blockchain technology. PROVOCO faces considerable competition as a social media platform, both from traditional platforms and those that are aiming to use blockchain technology. A proof-of-concept can be found through the PROVOCO website. The GitHub page is also provided, and shows moderate levels of content and 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?

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?

2.0
N/A
2 - Some, but nothing outstanding.
Product Score:
2.4

Use of Blockchain

VOCO is an ERC223 compliant token and is used as a reward for completing challenges and attracting watchers, as well as to access marketing services. There is a specific section in the document that outlines the need to create a custom token. The justification for creating a custom token is not particularly convincing, as the reasons also apply to Ether. It is stated that content on the platform will be regulated and governed by the users via a voting mechanism, which is discussed fairly thoroughly in the whitepaper.

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.)?

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?

3.0
N/A
3 - Interesting.
Use of Blockchain Score:
3.0

Whitepaper

The whitepaper is 38 pages in length. The technology plan is presented with moderate levels of detail. The technical overview is somewhat generic but the governance structure and voting mechanism is discussed with high levels of detail. The business plan is quite comprehensive. The market evaluation consists of an overall assessment of the current state of social media as well as a comparison between PROVOCO and its blockchain-focused competitors. There is a specific section that outlines the token economy. There is also extensive discussion of the use-cases of the token. More detail could be provided for some aspects of the platform, such as the premium services, which are purchased with VOCO tokens. Overall, the whitepaper is easy to read and fairly comprehensive.

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?

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.?

4.0
N/A
4 - Informative disclosure.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

4.0
N/A
4 - Clear, well thought out, realistic.
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:
3.6

Roadmap

The roadmap on the PROVOCO website spans from Q2 2017 to Q1 2021. There are 15 milestones presented, 6 of which have already been achieved, including the development of the application wireframe and the launch of the proof-of-concept. It is stated that voting functionality will be implemented in Q3 2018 and that the application is set to be released to the public in Q1 2019. The open-source launch of the platform is planned for Q1 2021.

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?

4.0
N/A
4 - Realistic.
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?

2.0
N/A
2 - Critical obstacles ahead.
Roadmap Score:
3.0

Compliance

There is a section towards the end of the document that spans approximately 6 pages and contains discussion regarding the legal considerations of the platform and token sale. It is stated that “VOCO are cryptographic tokens created for access of PROVOCO’s products and services. However, there are no guarantees of their future use or value which can be zero”. There is also discussion regarding the parties with whom PROVOCO may share user information (e.g., cookies, log files, device identifiers, location and usage data) – this includes business partners and affiliates, third-party organizations and advertisers, and anonymized data with other parties. Residents from the Unites States of America, People’s Republic of China (excluding Hong Kong and Taiwan), and/or South Korea are not permitted to participate in the token sale.

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?

3.0
N/A
3 - Limited to blanket standard.
Legal Review/Risk Assessment

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

3.0
N/A
3 - Semi-professional (e.g. Howey Test)
Compliance Score:
2.4

Company and Team

The core team of 23 individuals is listed on the PROVOCO website, along with their profile pictures, short descriptions and links to LinkedIn profiles. The skill set of the core team is comprised mainly of backgrounds in business and design. There are approximately 6 team members with a technical role. Investigating the LinkedIn profiles of the C-level executives show that all the lead team members are concurrently involved with other organizations. Thus, the level of commitment to the project is uncertain.

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?

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?

2.0
N/A
2 - Somewhat skewed.
Company and Team Score:
2.8

Token Sale

The total number of VOCO tokens is 100 million (51% is for sale, 16% is for the VOCO fund, 15% is for operations, 12% is for the team and advisors, and 6% is for the community). The allocation of funds is described with moderate detail. An infographic is used to display the budget allocation and shows the allocation of funds at different funding levels. The two primary categories for budget allocation are development and marketing. The soft cap is 5 million VOCO and the hard cap is 51 million VOCO, where 1 ETH = 1330 VOCO. Unsold tokens will be burned. The token sale will use the DAICO fundraising model, increasing transparency compared to typical ICOs.

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?

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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