Swytch

Built on secure blockchain technology, Swytch tracks and rewards the production of clean, renewable energy in real-time.

About Swytch

Swytch plans to incentivize green energy production by rewarding clean energy producers with SET tokens. Their plan is to utilize IoT meters which will allow for what they call a “proof-of-production” consensus algorithm. SET utility tokens will be used to access the Swytch platform and “oracle” data that is collected through metering devices in the Swytch ecosystem. The value proposition for token holders is not fully developed and Swytch states that “future use cases for Swytch Tokens… are currently under consideration and will be included as [they] formalize partnerships and agreements”.

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?

1.0
N/A
1 - Many / much better competitors.
Innovation

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

3.0
N/A
3 - Partial, a novel approach or aspect.

Product

Swytch plans to target the renewable energy industry, which is rapidly developing and expected to have a significant impact in the energy sector in the near future. Swytch is currently working with partners for pilot project developments, particularly in Germany. In the realm of blockchain-backed projects that focus on renewable energy production, Swytch is one of many, with a number of competitors (e.g., WePower, Restart Energy, SunContract, Power Ledger, GridSingularity and The Energy Web Foundation, and more…)

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?

4.0
N/A
4 - Token is essential to platform.
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

SET is an ERC20 compliant token. Swytch is implementing a new consensus and validation protocol that they are calling “proof-of-production” (POP). Green energy producers will be awarded SET tokens based on the amount of clean energy that they are able to generate. The most unique aspect of the Swytch project is the POP consensus protocol, which justifies the need for a custom token.

Use of Blockchain Roadmap

Whitepaper

2.4
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?

1.0
N/A
1 - Severely lacking.

Whitepaper

The whitepaper focuses on the projected growth of the renewable energy industry and positions Swytch as a project that can generate incentivization structures for renewable energy production in order to facilitate this growth. However, much more detail and thought needs to be given to the inherent value of the token and what gives it such value.

Whitepaper Compliance

Roadmap

2.2
Roadmap
Concreteness

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

2.0
N/A
2 - Vague, noncommittal.
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?

2.0
N/A
2 - Riding the current wave.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

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

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

2.0
N/A
2 - Critical obstacles ahead.

Roadmap

Swytch is focused on increasing platform adoption. Most milestones for 2018 are focused on establishing partnerships with organizations and cities, and developing pilots such as the Energy Aggregation Pilot project in Germany. No expected launch date is provided for most technological milestones such as the mobile or web application. The roadmap contains a small amount of technological detail and focuses more on business-related objectives.

Roadmap Company and Team

Compliance

2.6
Compliance
Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

2.0
N/A
2 - Minimal or contrived.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

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?

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 documentation associated with risks and disclaimers are included in the whitepaper, where it is stated that the token “facilitates access to Swytch’s platform and services rather than as an investment or security”. The risk aversion strategies that are used in the whitepaper are typical of most ICOs.

Compliance Token Sale

Company and Team

2.2
Company and Team
Company Stage and Foundation

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

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

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

3.0
N/A
3 - Minimally sufficient.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

2.0
N/A
2 - Lacking in key areas.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

2.0
N/A
2 - Lacking or inconsistent.
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 8 team members are listed in the whitepaper and LinkedIn profiles can be found for all but one individual. The skill set and experience of the team members are tilted towards business as opposed to technology. Adding more members with blockchain development expertise should be considered to ensure that the platform’s technological development can be accomplished within a reasonable time-frame.

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

The ‘Total Distribution’ of SET is 3.65 billion, of which 10% (365 million) are for the Token Generation Event and 90% will be for Energy Production rewards. Of the 365 million distributed in the TGE, 55% is for sale, 15% for the core team, 14% for the Swytch Foundation, 10% for partnerships, 3% for future reserves, and 3% for bounties. The hardcap is $125MM USD, where 1 SET = $1 USD. The justification for the relatively large hard cap that Swytch provides is quite weak as they state that “in comparison to the multi-trillion dollar energy industry it is relatively small”. The public sale begins on February 15, 2018.

Product

Swytch plans to target the renewable energy industry, which is rapidly developing and expected to have a significant impact in the energy sector in the near future. Swytch is currently working with partners for pilot project developments, particularly in Germany. In the realm of blockchain-backed projects that focus on renewable energy production, Swytch is one of many, with a number of competitors (e.g., WePower, Restart Energy, SunContract, Power Ledger, GridSingularity and The Energy Web Foundation, 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?

1.0
N/A
1 - Many / much better competitors.
Innovation

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

3.0
N/A
3 - Partial, a novel approach or aspect.
Product Score:
2.4

Use of Blockchain

SET is an ERC20 compliant token. Swytch is implementing a new consensus and validation protocol that they are calling “proof-of-production” (POP). Green energy producers will be awarded SET tokens based on the amount of clean energy that they are able to generate. The most unique aspect of the Swytch project is the POP consensus protocol, which justifies the need for a custom token.

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?

4.0
N/A
4 - Token is essential to platform.
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:
3.2

Whitepaper

The whitepaper focuses on the projected growth of the renewable energy industry and positions Swytch as a project that can generate incentivization structures for renewable energy production in order to facilitate this growth. However, much more detail and thought needs to be given to the inherent value of the token and what gives it such value.

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?

1.0
N/A
1 - Severely lacking.
Whitepaper Score:
2.4

Roadmap

Swytch is focused on increasing platform adoption. Most milestones for 2018 are focused on establishing partnerships with organizations and cities, and developing pilots such as the Energy Aggregation Pilot project in Germany. No expected launch date is provided for most technological milestones such as the mobile or web application. The roadmap contains a small amount of technological detail and focuses more on business-related objectives.

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?

2.0
N/A
2 - Riding the current wave.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

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

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

2.0
N/A
2 - Critical obstacles ahead.
Roadmap Score:
2.2

Compliance

There is documentation associated with risks and disclaimers are included in the whitepaper, where it is stated that the token “facilitates access to Swytch’s platform and services rather than as an investment or security”. The risk aversion strategies that are used in the whitepaper are typical of most ICOs.

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?

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:
2.6

Company and Team

The 8 team members are listed in the whitepaper and LinkedIn profiles can be found for all but one individual. The skill set and experience of the team members are tilted towards business as opposed to technology. Adding more members with blockchain development expertise should be considered to ensure that the platform’s technological development can be accomplished within a reasonable time-frame.

Category Breakdown
Company Stage and Foundation

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

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

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

3.0
N/A
3 - Minimally sufficient.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

2.0
N/A
2 - Lacking in key areas.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

2.0
N/A
2 - Lacking or inconsistent.
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:
2.2

Token Sale

The ‘Total Distribution’ of SET is 3.65 billion, of which 10% (365 million) are for the Token Generation Event and 90% will be for Energy Production rewards. Of the 365 million distributed in the TGE, 55% is for sale, 15% for the core team, 14% for the Swytch Foundation, 10% for partnerships, 3% for future reserves, and 3% for bounties. The hardcap is $125MM USD, where 1 SET = $1 USD. The justification for the relatively large hard cap that Swytch provides is quite weak as they state that “in comparison to the multi-trillion dollar energy industry it is relatively small”. The public sale begins on February 15, 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)?

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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