Mandala Exchange ICO Review

Mandala Exchange ICO Review
ICO date: 21.04.2018 - 22.06.2018
Industry: Cryptocurrency exchange
Description:

Mandala is a cryptocurrency trading platform that also has elements of marketplace for trading services and a social platform. It’s aim is to transform the industry.

How it works:

Mandala is a trading platform that not only gives tools and resources to users, but educates them and increases their profit potential. It provides tutorials on trading to keep novices on the forefront of strategy, making them proactive traders.

The platform improves user experience with enhanced customisation features that make it possible to tailor it to one’s needs and likes and places a big emphasis on the quality of customer support. Fees lower that other exchanges have will also attract new customers. Traders can make them even lower, using MDX tokens.

Another big selling point of Mandala exchange is security. The platform supports 2FA and 3FA, has an anti-DDoS attack solution and anti-phishing alerts, checked by third party security professionals. Withdrawal is confirmed via email. Wallet and IP address are whitelisted. The wallet has multi-signature structure and purchasing a hardware wallet solution is possible. This is a big relief, knowing that even MyEtherWallet can be hacked.

The hardware wallet Mandala introduces is an electronic device that acts as an offline cold storage for your private keys. Basically it’s a “HODL” (Hold on for dear life) solution.

The platform will feature free tools like a risk strategy system, signalling system, an automated trade assistant, order books and portfolio view. But the real schtick is tools that are accessible only via MDX tokens.  Users will be able to use an autonomous trade bot, trade and portfolio analysis tool and trade signals tools, that lets you know the best buying and selling zones.

These are probably not the only tools that will be present on the platform because the company makes constant development one of their main goals.

What truly distinguished Mandala from its competitors is a P2P marketplace for buying and selling services like trading advice, technical analytics, bot algorithms and education. The platform also has a social side. Users can make posts and articles on news, trading strategies, etc. to share their knowledge and earn MDX tokens for contribution to the platform.

Innovation:

Mandala’s vision is to take cryptocurrency trading from the “Wild West” phase. However, other startups like Tokpie, Paymon and Midex all have either better tools or more functionality. Mandala does get some points for introducing a hardware storage, a marketplace and a social platform.

Innovation score: High

Token value:

MDX tokens derive their value from being used on the Mandala platform. They are used to pay for premium tools, services on the P2P marketplace and to lower trading fees up to 75%.

As the user base grows and more people make MDX transactions, its value will grow, allowing ICO participants to cash in on their investment.

Token value score: Medium

White paper:

The white paper Mandala presents offers a brief marketing potential analysis and talks about problems of the market and company’s solutions. It mentions some of the technical aspects of the platform’s operation and business model and covers key functions and tools the company has.

White paper score: High

Roadmap:

Mandala is a young company, they have only formed the legal entity and recruited the team in the first quarter of 2018, even though the founders started making market analysis in the last months of 2017.

Trade engine will be developed in the second quarter of 2018 after the pre-sale. In the third quarter the company will release a beta version of the platform, hold a third party security audit and start stress testing it. It should be done in the last quarter of 2018, when the platform is going to be released, together with the iOS app and MDX social.

In 2019 the company will start manufacturing and testing the hardware wallet, release MDX marketplace and Android app.

Roadmap score: Medium

Business model:

Mandala taps into a very profitable industry. It charges trading and withdrawal fees, but lower than other exchanges do, so it’s going to attract new users. Another revenue stream is payments for advanced trading tools.

MDX social platform will be a good factor in the company’s marketing efforts.

Business model score: High

Team:

Mandala has a big team, and a big advisory board. No members presented on the site have bios, but all of them have LinkedIn profiles attached.

The company’s CEO has been in leadership positions since 2012. The CSO is serial entrepreneur, he has been founding and running companies since 2009. The CMO has held positions of COO and Director of operation in different companies since 2004. The CTO has over 11 years of experience, according to his profile, and has worked with the CEO on the same project previously.

The advisory board features 10 people. It has a professor of finance, a founder of a full cycle ICO consulting company, a man with 30 years of experience in Global Securities, a former VP at Goldman Sachs and one

of America’s most respected and recognized stock experts. This is a mix of people very beneficial for the company.

Team score: High

Competitors:

On the plus side, cryptocurrency exchange industry is very profitable. On the down side, it has a lot of competition. Startups like Tokpie, Paymon and Midex offer identical or better services than Mandala exchange.

The company does get a few points for minor innovations they introduce and the strong team they have, but it seems that Mandala will have hard times competing against its few competitors.

Competitors score: Medium

Overall thoughts:

Mandala has a very strong team and a decent business plan. But the functionality of the exchange they are developing is far from being unrivalled. It is not a must-do investment, but since the team is experienced in what they do, this project may show a good ROI.

Website: mandalaex.com
Whitepaper: Whitepaper

Overall Score

Medium

3.8 / 5

Risk score

Medium

Crowdsale


ICO

ICO start date: 21.04.2018
ICO end date: 22.06.2018
Soft cap: 3,000,000 USD
Hard cap: 18,000,000 USD

TOKEN DETAILS

Ticker: MDX
Token price in USD: 0.07
Bonus Program:

25% 21/04/2018 – 10/05/2018

10% 11/05/2018 – 17/05/2018

5%   18/05/2018 – 24/05/2018

Legal


ICO Platform: No
Registration Country: Cayman Islands