Agate

Agate
ICO date: 15.10.2018 - 15.11.2018
Industry: E-commerce
Description:

Agate a complex multi-component blockchain platform for instant payments and more.

How it works:

Agate provides a set of tools for crypto economy. It offers two apps, their own version of blockchain, a fiat payment system, API, plugins and some hardware like a POS terminal.

The blockchain Agate creates improves on speed characteristics, allowing for faster transactions. Multi confirmation is not necessary as the blockchain runs within iFiat ecosystem. However, it can be implemented, if a developer of an app that works with this blockchain decides to.

This improved blockchain allows for a miniscule transaction fee of 0.01 AGT. Transactions are conducted via custom smart contracts that the team is working on right now.

Mining becomes simple with Agate blockchain, as it uses a Proof of Stake method that is also more environmentally friendly than PoW. Miners can run a public mining pool and lease it to other users.

Users can also generate their own tokens with the token generator.

iFiat Ecosystem uses this generator to create fiat-pegged cryptocurrencies like iUSD or iEUR. Each token is tied to fiat currency in one-to-one proportion. This ecosystem is used to conduct fast fiat payments with the medium of crypto.

iFiat currencies can be loaded on a debit card or withdrawn to a bank account with a minimal fee. Transaction within the system have a very low fee too, so your money can be spent in the form of iFiat currency at one of the merchant’s who participate in the system.

Agate supports two mobile apps, for users and for merchants. The app for users allows them to store crypto and make payments. The app for merchants allows them to receive payments and monitor their income sources from online and POS purchases. The company developed a Shopify plugin that lets merchants accept payments in its crypto by simply installing a free app.

Innovation:

This project integrates cryptocurrency into regular economy. The best thing about it is that it is done to make transferring money safer and faster. Agate can become a great buffer for cryptocurrencies.

Innovation score: High

Token value:

AGT is a utility token of the platform. Even though payments can be done via iFiat, all transaction and withdrawal fees are paid in AGT, as well as purchases of the company’s hardware. This means that with the rise of transaction volume the token will start rising in price. With a systems that requires a lot of small AGT transactions, the rise will be significant, once the user base reaches a critical mass.

Token value score: High

White paper:

The project’s white paper talks at length about the concept of the platform and explains in detail how the technology behind it works. It also presents information on AGT’s value proposition and the company’s business model.

White paper score: High

Roadmap:

The idea for the app was conceived in 2017, in the same year the company gathered half of million USD in the first investment round to fund the research. Agate blockchain is being tested since January 2018. Beta version of the app was released in March.

Blockchain Main-Net is going to be launched in the first quarter of 2019, the release of smart contracts and plugins is planned on the second quarter. In the end of the year Agate is going to receive a banking license.

Roadmap score: High

Business model:

The company is going to charge small fees which is beneficial for growing a large audience. The system charges 1% withdrawal fees and charges 1 AGT for exchanging crypto. The company also sells their own merchandise, POS terminals.

Business model score: High

Team:

The company’s CEO has been working in management since 2001. He allegedly co-founded many companies, MyServo and DroneOnline Australia among them. However, we were unable to find any information whatsoever on these companies in the Internet, or any employees of these companies on LinkedIn except the said man.

The support informed us that DroneOnline Australia  was sold, and provided a link to MyServo website. After acquiring sufficient information from CEO, we don’t have suspicions about his experience anymore.

The company’s CMO is one of the world’s most famous tech influencers. Magazines like Entrepreneur and The Huffington Post seek his opinion, and Forbes put him in the list of top 20 growth hackers in 2016. The AI lead used to be a Leader of UTS consultancy team at IBM. CTO co-founded his first project in 2005 and has been in positions of technical solutions architect and CTO since.

The most notable members of the advisory board are a man who was in senior leadership roles in Siebel and Dell/Quest, an award-winning tech expert who did data science for Google and Philips and a banking industry worker with over 20 years of experience, having worked at the Commonwealth Bank of Australia.

Team score: High

Competitors:

Agate faces competition from other startups that try to incorporate cryptocurrencies into economy, like Zeex (/zeex) and Paymon (/paymon) and crypto marketplaces. However, Agate’s solution is more comprehensive and offers users more options. It has good chances of getting big in this industry.

Competitors score: High

Overall thoughts:

Agate’s idea is well rounded and suitable for multiple purposes. Its business model has a good balance of profitability and attractiveness to users. All things considered AGT can be a good investment.

Website: agatechain.org
Whitepaper: Whitepaper

Overall Score

High

4.6 / 5

Risk score

Low

Crowdsale


Pre-ICO

Pre-ICO start date: 21.08.2018
Pre-ICO end date: 14.10.2018

ICO

ICO start date: 15.10.2018
ICO end date: 15.11.2018
Soft cap: 2,000,000 USD
Hard cap: 24,206,000 USD

TOKEN DETAILS

Ticker: AGT
Additional Token Emission: 318,500,000
Token price in USD: 0.076
Bonus Program:

25% 21/08/2018 – 31/08/2018

20% 1/09/2018 – 11/09/2018

15% 12/09/2018 – 22/09/2018

10% 23/09/2018 – 3/10/2018

5% 4/10/2018 – 14/10/2018

Legal


ICO Platform: No
Country Limitations: USA
Registration Country: Australia