Midex

Midex
ICO date: 15.01.2018 - 14.04.2018
Description:

Midex is a working cryptocurrency exchange that aims to become the first cryptocurrency bank in the nearest future. It gives the cryptocurrency ecosystem stability, transparency and easy access.

How it works:

The main concept of Midex is a decentralized ecosystem of services that users can access from the same platform. Apart from offering cryptocurrency exchange and escrow services, Midex aims to introduce investment and credit marketplace, a payment system, payment cards, and a network of crypto ATMs.

Midex API can be used to create internet stores, statistic services, trading robots, outdoor terminals and many other solutions. The company’s goal is to become a bridge that allows quick interaction between cryptocurrencies and classical economic environment.

The main thing that differs Midex from other financial platforms is the absence of intermediaries due to using smart contracts. This makes transactions faster and less costly, as no manual evaluation is needed.

Midex Payment system is a way for businesses to easily accept cryptocurrencies as a payment method. Users can pay with anything they prefer, a bank card, e-money or cryptocurrency that will be converted into the fiat of the online shop the purchase is made in.

Midex Exchange is a working cryptocurrency exchange that accepts more than 48 currencies. It allows for exchange on the platform and individual transactions with other users. Trading via analytics tools is also possible. The exchange operates on a web-socket technology so active traders are aware of the changes in the situation at any time.

The platform will also introduce a p2p credit platform and investment platform. The investment platform will allow master traders to publish their statistics and define terms under which investors can give them funds for trust management. The use of smart contracts ensures safety of all parties.

Another important feature that Midex wants to introduce is the ICO Center. It will bring ICO creators and investors together in a safe environment. Project owners will have access to tools and investors will have more certainty in the project they trust their money with.

Innovation:

The system works partly on Ethereum, partly on the company’s own blockchain, developed for banking purposes. Apart from that, its main concept of an ecosystem of financial services intertwined with classical economic services is rather innovative too.

Innovation score: High

Token value:

MDX tokens offer a lot of benefits. MDX holders will get special functionality on the platform and increase cash withdrawal or transaction limit. Token holders also get the benefit of exchanging their tokens into company shares in the future. There is a possibility of distribution of up to 20% of commission revenue among the token holders.

Token value score: High

White paper:

The white paper of Midex explains the concepts of the products and services it provides in great details. It also comments on technical details and their implementation and provides legal information. It’s a shame the paper doesn’t show an exact business plan or competition analysis.

White paper score: Medium

Roadmap:

Midex’s roadmap has milestones for different funding scenarios. The exchange service is already working and legally licensed. The team has also implemented escrow services, web-platforms and quotes aggregator.

The ICO has already met the soft cap of $5 mio and this means in the second quarter of 2018 Midex will introduce credit marketplace, trading API, mobile applications and will participate in SWIFT.

If $15 mio are gathered, in the fourth quarter of 2018 Midex will acquire bank license and start issuing plastic cards and expanding their network of ATMS.

The plans for 2019 include introducing MidexSecure system and social trade network, given $25 mio milestone is met, as well as insurance and ICO marketplace if the ICO raises $40 mio.

Roadmap score: High

Business model:

Midex taps in a multibillion dollar industry, and with some great ideas too. Usings blockchain cuts down costs for offices and employees as the company doesn’t need as much of them. The revenue stream for the exchange platform is taking commissions for transactions, but since the white paper does not give any precise information on the revenue model, it can’t be awarded with the highest mark.

Business model score: Medium

Team:

The president is an owner and co-investor of a couple of companies in finance and real estate. The CEO is an expert at  cointelegraph.com and icobench.com, The CMO is an expert at icobench.com as well. The project’s CTO has over 10 years of experience in banking IT and 5 years of working with blockchain. The person in charge of tax and legal department is a consultant of the Estonian Tax Service.

One of the members of the advisory board has more than 15 years of experience in strategy consulting for companies like Barclays, Lloyds and The Royal Bank of Scotland. The other one has been a financial expert for 30 years.

Team score: High

Competitors:

Midex goes up against traditional banking sector and other cryptocurrency exchanges. With their great team and a bunch of innovative ideas, they can make their enemies partners in the new ecosystem they’re building. But it is not going to be easy.

Competitors score: High

Overall thoughts:

Midex has a great vision of their future as a company and brings innovative and useful ideas into the industry. Their team consists of professionals, but the competition is extremely tough.

Given the value their token proves for the holders and the relatively high chances for success, investing in MDX can be a wise risk to take.

Website: Site
Whitepaper: Whitepaper

Overall Score

High

4 / 5

Risk score

NA

Crowdsale


ICO

ICO start date: 15.01.2018
ICO end date: 14.04.2018
Soft cap: 5,000,000 USD
Hard cap: 50,000,000 USD

TOKEN DETAILS

Ticker: MDX
Token price in ETH: 0,0019

Legal


ICO Platform: No
Registration Country: Estonia