DAICO of WINBIX Sales System
Тhe WINBIX marketplace aims to create a new channel for sales, allowing participants to sell goods at the demand prices at any time.
The system uses the reversed auction model. The price of the goods decreases until one of the participants stops the auction. The first buyer who stops the auction wins.
The target Project audience shall include:
– Sellers – small and medium intermediaries/manufacturers who cannot afford to bear the costs of organizing and maintaining online sales. Further, the marketplace will be useful for companies wishing to occupy a niche among customers with a limited income level (the target audience of bulletin boards, joint purchases);
– Buyers – people with average and below average income having to combine an acceptable consumption level and limited financial resources. The audience ready for time-consuming costs in exchange for the option of obtaining a satisfactory price offer.
The WINBIX System (hereinafter – the System) is designed to create a new sales channel that would make it possible for the Seller to sell the products with maximum efficiency and for the Buyer to buy for a reasonable price.
The System operation is based on the Dutch Auction principle, i. e. constant reduction in the product price until the products are sold or until the stop price level is achieved.
The System features include (please note that some reverse auction features constitute intellectual property of the Project):
Minimum price per each lot is determined randomly subject to the minimum price corridor established by the Seller, i. e. the minimum price per each lot is different and the value thereof remains unknown to the Buyer.
Price reduction increment is determined randomly, in the range of previous price and stop price; thus, each subsequent price value remains unknown to the Buyer.
Stock balance is unavailable to the Buyer, each lot (item) may be the last one.
Buyer can set any price value at which the System should notify the Buyer. This information is available to the Seller and provides an opportunity to forecast demand at different price levels.
Time interval for the price reduction is set by the Seller for every item
There is an established direct correlation between the Seller’s sale costs and the quality of provided services.
Opportunity to create quotations for Sellers and, if approved, to purchase products at the desired price.
Settlement of disputes by arbitration involving Sellers, Buyers and the System.
DAICO performance enabling the investor’s maximum protection.
Buyback and destruction of tokens at fixed prices through the BUYBACK smart contract.
Issue of personal WBX tokens (ERC-20).
Creating and financing the SECURITY smart contract (Ethereum security unit).
Missing whitepaper? Let us know.
This project is interesting, I love the DAICO system, it has a lot of potential and empower to the investors with a transparent structure and vote rights.
The team has not enough blockchain and fundraising background, they really need to hire some good advisors to their crew.
Winbix has a working mvp, a very important point for any ICO.
Good luck team, you have all the tools to get your goals and objectives.
A project with tremendous potential, especially because Benchy evaluated it at 5, which is hard to do. They have vision, they have MVP and dedication. The only thing they do not have is the numbers of their team. I highly recommend you to expand your team.
Initially, on the surface I was not sure about this project. After taking a good look at the whitepaper, website and team, I had a few questions.
The CMO was more than willing to answer all my questions in detail and he also shed some light on what the strategy is going forward. I’m highly impressed with the attention to detail and the amount of time that will be spent in developing a live, working platform before they begin their main token sale.
They also have plans to expand the team once the preico is complete. This will allow them to add a bit of diversity to the current team.
The product/platform itself is a reverse auction offering that uses an algorithm to make it near impossible to predict the final price or to manipulate the auction.
→ Blockchain Advantage – ✅❤️
→ White Paper – ✅
→ Team Composition – ⛔️
→ Token Economics – ⛔️
→ Business Model – ✅ ❤️
→ Social Media Presence – ✅
→ Collaborations & partnerships – ✅
→ Fund Allocation – ⛔️
→ Legal Loopholes – ✅
→ MVP/ DApp/ Working Product – ✅ ❤️
Advantage – They already have a working product and a very strong business model; a considerable amount of thought and work has gone in the project. Having token sale via DAICO and its various methods of benefiting investors are pretty well documented.
Disadvantage – The team is too lean. The project itself doesn’t have an inherent use of tokens beyond the fundraising needs as most of the people would want to use the top 5 – 10 – 20 coins for buying and selling goods. The requirements of smart contracts for resolution of conflicts is important though. No mention of KYC + AML partners or other partnerships like exchanges, shipping agency, etc is a cause of concern as well. Instead of burning tokens to increase liquidity, unsold tokens can be kept for increasing partnerships.
You can find my ratings methodology here- https://ift.tt/3a8lwM0
A very interesting product which seems to have a lot of potential of expansion and success. The DAICO performance will ensure protection and it is definitely a plus on the trust the investors are going to put into the project. The team has passed the KYC which is very important, though being a relatively small team. The whitepaper is detailed and offers extensive guidance, leaving nobody with questions. Their vision appears to be very realistic concerning both the soft cap and the hard cap. Nothing that cannot be achieved.
Incredible small team of 8 individuals, they have passed the KYC though. Their Soft Cap and Hard Cap are ridiculous, you don’t need at least 6 million dollars to make such a project. This is a serious red flag for me and it seems more of a profit scheme than actual commitment to the project.
Their vision is not quite original either, as I’ve seen many projects just like this.
A team with little background in retail or crypto have a good idea but the presentation is purely about the tokenomics. Does the company need tokens in operation of the business? Looks more like they want to raise money from an ICO and then learn how to implement their vision
1. Unfortunately, the ICO bench interface did not allow us to place more than one video so you could not get acquainted with the video about the problem that the project solves https://www.youtube.com/watch?v=zwQENDSsmXE and video describing the algorithm of the site https://www.youtube.com/watch?v=n46BvBh2RRQ
2. We would like to pay your attention that we are already developing the site, the results can be found here: https://ift.tt/3abQD9t
3. What is about cryptocurrency, yes, we recognize that we use the emission of tokens as a tool for attracting funds, but we draw your attention to the fact that we conduct the DA ICO procedure through the smart contracts that ensure the fulfilment of the following conditions:
– WBX tokens are allocated from the contract only in exchange for Ethereum,
– upon completion of PreDAICO, 10% of the tokens sold are allocated for the reward of Airdrop/Bounty participants
– untapped and unallocated tokens are destroyed
– the funds are not allocated to the project team
– the funds are managed by the Ethereum smart contract and allocated to the team in parts – 1 time in 30 days
– after 45 days, the investor has an unconditional and sole right to return the tokens to the project and receive his share of the balance in Ethereum
In our opinion, the use of DA ICO WINBIX smart contracts allows achieving two main goals:
– investor risks are reduced to the level of 2% – the size of the initial TAP, after which, if the team allows inappropriate spending, any investor could simply return WBX tokens to the PreDAICO smart contract to get his money,
– high motivation of the team to achieve a result at each stage of the allocation and expenditure of funds (please see the paragraph above).
The code of our smart contracts is open, it can be found on GitHub via the link https://ift.tt/39fZRQR, and on https://etherscan.io at the addresses of smart contracts. All our smart contracts are verified, the code is available for viewing directly on https://etherscan.io.
We would like to express our gratitude for the evaluation of the project, and we hope that our arguments will seem convincing to you.
Best regards, the team of WINBIX
An ingenious idea and an interesting product. A website that is easy to use and clear for a novice.
A small team, however, which may very quickly need advisors to carry out the project.
Marketing will have to be adapted because whatever the product, the project, as always it is the marketing part that will be decisive on the final results.
The core team needs to increase to cover the range of complexity for the project. Also there are no Advisors listed.
There are many marketplaces available for B2B and B2C that makes it challenging. How will the project grab the attention of
the core audience of buyers and sellers with enough volume and diversity of products? No mention of competition or unique proposition. There is no track record or MVP to indicate market interest.
There does not appear to be a strong community. The Facebook link not working and 2471 Twitter followers.
The 22-page whitepaper is helpful but could be more clearly written with better visuals. Those not familiar with the reverse auction and DAICO may be left confused.
They should be able to answer a simple question: Why do you need to reach the soft cap? What will you produce with that amount of money?
The video must demonstrate what is the product they have or plan to build and where they plan to go by obtaining soft cap and hard cap.
Thank you for your interest in our project.
Allow me to answer your questions using the material from our website winbix.io.
1. The funds which are raised at PreDAICO are used for the following purposes (section on spending funds):
– finalization of the trading platform demo.winbix.com
– launch of a trading platform in Russia (marketing for product promotion, administration, legal support)
– marketing expenses for conducting DAICO (12 months after the end of PREDAICO)
– compensation for loss of funding in case of withdrawal of the participants from the project (formed from TAP). If at the time of completion of the financing from the PreDAICO smart contract there remains an untapped balance under this item, it is used in the direction of “marketing costs for promotion of DAICO”
What is the problem that WINBIX solves: https://www.youtube.com/watch?v=zwQENDSsmXE
How does Winbix solve it: https://www.youtube.com/watch?v=n46BvBh2RRQ
Team: clearly a great bunch except I’m surprised you have no talents from outside the Russian soil. If you want to conquer markets outside Russia you have to at least have some talents from those sides and having not a single Advisor to this project is another issue in my ratings. However the founder has been very approachable and happy to answer my questions.
Vision: realistic soft and hard cap. Very much achievable with the right team.
Product: An interesting product with huge potentials as I said in my team review I think one of your weakness is your team otherwise this could be a serious contender in the field.
Good luck ahead, I am very happy to re-review again if you improve those highlighting issues in my ratings.
Experts are independently and voluntarily contributing to the community. If no expert has rated the ICO, only ICO analyzer’s results are used. Always research before investing as these ratings should not be taken as an investing guide of any kind.
Ratings and ICO analyzer results are being updated (re-calculated) every few hours.
Idea of holding the auction.
Working over the auction algorithm.
Team building, budget planning.
Development and testing of the System site, trading platform, payment System and other WINBIX System components.
Marketing research and selection of suppliers.
Getting prepared to PreDAICO activities.
Trading platform follow-up, selection of Sellers.
Marketplace launch in Russia.
Marketplace launch in Southeast Asian countries.
Commencement of activities in the US and EU.
ICOs that might interest you
Tapping into banking with a unique cashback system and a coin designed to rise in value…
HiveNet is a distributed cloud computing network, which enables computer owners to rent…
GRAYLL is a start & stop system containing algorithms & AI models to automatically gene…
SaTT tokens is a Dapp designed to rule advertising transactions between advertisers an…