An ICO one should keep their eyes on that recently finished its tokensell is SpringRole. It wants to create a networking platform for employers and working professionals. The immutability of the blockchain will be used to remove actors that falsify information about their work experience so it is another kind of decentralized LinkedIn. It is going to have a hard cap of 21,000 Etherium and has got a 10 billion total token supply and 25 percent of circulating supply whereby 25 percent of their tokens are going to the team.
So with the positives, there are two main things that attract investors. Its reward mechanics are very well thought out and actually go one step beyond its immediate blockchain rivals. The reward mechanic behind SpringRole actually focuses on what you know and not so much who you know meaning that those join the platform that has not yet put up a network can still get endorsed on the SpringRole ecosystem. The second thing is that the endorsement system has scarcity built in mitigating against endorsement abuse. Each endorsement has a small cost attached to it. When network participants make more endorsements, the costs associated with those endorsements increase over time.
The criticisms raised relate directly to their token economics, team, and hype. For the token economics, one could give them four out of ten and the reason for that is that they are very weak, unsold tokens and are going to be locked for one year. It is going to have a 25 percent circulating supply and a 25 percent stake for the team and that is just not going to cut it under the current market. Seasoned investors are just going to look elsewhere. The second thing is the team which is just average and one can not really see how they will stand out with all the competition at the moment. That said, they do actually have a software engineer from Cisco Systems that was based at Cisco for one and a half years.
Finally, the hype is doing an airdrop which actually inflates telegram numbers. One has to be skeptical when it comes to the hype for projects that have airdrops. Holistically looking at SpringRole, it does not have enough awareness. Protects are made or broken by influences in the crypto space and they are more focused on shinning big blockchain ideas that happen to be the rhetoric of decentralization such as the mainframe.
It is advisable for one to conduct their own research regarding ICOs and their limitations or advantages as the internet is not a good financial adviser when it comes to how one should handle their money, however, a quick overview of the way an ICO works, its token economics and its white papers is a good dive into what the ICO stands for.
Keeping all that in mind, it is essentially up to one’s own self whether they choose to invest in an ICO or not. Research, analyze and approach with caution. The world of ICOs is your own playing field and whatever way you choose to venture out in it, make sure you are fully equipped and motivated before doing so.