What does the company/project do?
Coindaily is a platform that is directed at delivering content and information about the blockchain space. Coindaily is not developing a blockchain protocol. In the first place, the company is aiming to provide investors of ICO projects with reliable and trusted information. Services that Coindaily wants to provide include information diffusion, investment decision consultancy and post-investment tracking services.
Coindaily wants to aggregate information about ICOs and to establish an open content platform. Among the information that will be aggregated are community activities, Github activity, and third-party ICO ratings. Further Coindaily plans to be active in the over-the-counter market and will establish a portfolio tracking service for their users. As ICO projects progress Coindaily users will receive project updates. On the other side Coindaily will enable ICO projects to advertise on their platform.
What are the tokens used for and how can the token value appreciate?
The name of the project token will be DAILY Token which will be implemented as an Ethereum ERC-20 token. The token supply will be initially fixed with 20 billion, not allowing for any token inflation. The platform will lock up some of the tokens that will be earned to increase the value of the token. The more tokens the platform can earn back, the lower the supply of the remaining tokens will be and the higher the price of the token will raise.
How advanced is the project?
The Coindaily project was initially started at the beginning of 2018. An official WeChat Account with more than 100,000 subscribers already exists. The team will gradually roll out new features in the course of 2019. In November the rating notification system should be rolled out and the advertizer platform should become functional. Also the release of an app is planed soon.
The founder of Coindaily is Zhao Zhifei. He holds a Master degree in Cryptography from the Xidian University. He has a very good technical understanding of blockchain technology and is a Chinese cryptocurrency pioneer.
River Zhang is the Chief Content Officer of Ciondaily and holds a Master degree from Jinan University. He is the media expert of the project.
Jiang Zhiyi is the Technical Director of Coindaily and counts with more than a decade of experience in web technologies.
Among the advisors are Shouji Zhou, an investor at FBG Capital, Kenji Sasaki, a Japanese blockchain evangelist, and Da Kong Yi, a cryptocurrency investor.
Coindaily is not building a conventional protocol or blockchain platform as most ICO projects. However, the token is designed as an ERC-20 token and the platform plans to implement a Proof of Stake mechanism. Their business is mostly to provide information and hence the platform uses Python in combination with Django and a MySQL Database.
Strength and Opportunities
Coindaily is already active in the business of providing information about ICO projects. The platform was able to attract significant amounts of users to its channels and we can assume that this will be the case for the future. As the market recovers and a new bull market emerges more people will become interested in this space again and seek high quality information.
Weaknesses and Threats
Today it is not yet clear whether this kind of platform which Coindaily is running is suited for performing an ICO. It remains to be seen whether this ICO approach can work out for traditional companies as well. Coindaily seems to be an early pioneer in this field and we will learn soon whether these experiments will be successful in the market.
Coindaily is not a conventional ICO. It is neither a protocol nor a decentralized app. It is more a traditional business that is active in the blockchain space in a similar way as Binance and KuCoin are. Just as Binance and KuCoin, Coindaily has decided to link the company performance to a token. So far this has worked out pretty well for Binance, which by many measures is considered the world’s largest cryptocurrency exchange. Investors need to take this different nature of the platform into account when making their investment decisions.
* The information contained in this article is for education purpose only and not financial advice. Do your own research before making any investment decisions.