ICOrating

SKRAPS Basic Review (http://ico.skraps.io)

ICO dates (15.01.2018 — 15.02.2018)

Web: icorating.com

Email: info@icorating.com

Twitter: @IcoRating

Project details

Name: SKRAPS

Ticker symbol: SKRP

Project type: Investment, Banking, Cryptocurrency, Platform

Extended company description: Skraps is a blockchain-based platform for micro

investing.

Company: Skraps Inc.

Website

Whitepaper

ICO details

Public ICO Start: 15.01.2018

Public ICO End: 15.02.2018

Token Sale Duration (weeks): 4.4

Token type: ERC20

Total number of tokens issued: 110,000,000

Tokens Available on Sale (Pre-Sale + public ICO): 66,000,000

Investment goals:

50% — platform development

30% — marketing

3% — payment for legal services

2% — exchange charges

10% — team

5% — other

Price of 1 SKRP:

1st week - $0.30

2nd week - $0.35

3rd week - $0.40

4th week - $0.45.

Accepted payments: ETH, BTC, LTC, BCH, DASH, XRP

Bounty: The program starts on December 8, 2017 and runs until February 15, 2018.

Token role: Functional

Team

Team (number of people): 10

Advisors and partners (number of people): 5

GitHub: N/A (available soon)

Social media

Twitter: Posts: 104, followers: 420

Telegram: Subscribers: 2000+

Medium: Posts: 2, Subscribers: 4

LinkedIn: Subscribers: 7

Facebook: Subscribers: 150+

Project information

Skraps is a blockchain-based micro-investing platform where users can invest and

round off their transactions in cryptocurrency.

Customers can get started in 3 simple steps: Connecting a debit/credit card or wallet

with cryptocurrencies, spend money as usual and invest the change resulting from

rounding up the purchase sum.

Skraps works similarly to Acorns, but it can be used for purchases with

cryptocurrency as well as fiat. Users can invest and manage their funds through the

Skraps platform and be rewarded for consistent investment.

To invest cryptocurrency a user needs to connect their wallets to the platform. After

that, whenever a purchase or transaction is made, the difference received from

rounding up will be invested in the Skraps portfolio. A user can select a portfolio type

based on risk level.

The platform will also have a Leaderboard function so that users can publish their

high yield portfolios for others so that they can copy them.

Project advisors:

Aayush Jindal (Linkedin) — Director and founder of InfoTrics Solutions, founder of

EduTrics, writer and analyst at NEWSBTC, currency analyst at Titan FX.

Greg Sigalov (Linkedin) — Founder and CTO at Arrow Science and Technology,

co-founder and R&D research fellow of at Arenarts Inc., formerly: research fellow at

the University of Illinois at Urbana-Champaign.

Nikhil Mohan (Linkedin) — Director of research and development at Lightrains

Technolabs PVT Ltd, co-founder of Blockchain Interest Group.

Diego Emilio Cruces (Linkedin) — IT manager at Upwork, formerly: IT Manager

and head of the LATAM division at Globallogic Inc.

Volodymyr Lytvyniuk (ICObench) — Advisor for First Crypto ETF and Nametoken;

success rate of staged ICOs is 8.1/10.

Project partners:

Oraclize — providing oracles for projects.

ICObox — partner in the field of ICO.

Coinfirm — technology partner.

Reality Keys — a platform that tracks cryptocurrency rates and transactions.

KYC-chain — technology partner in the field of identification.

Coinpromote — partner in the field of marketing.

Attracted investments: n/a

Summary

The project is based on cryptocurrency and an investment platform. Attention to the

project from the blockchain community is currently low.

Strengths of the project:

based on the analytical data, we note that the project team has chosen

a steadily growing market where we believe it is possible to occupy a

prominent share.

the platform will be built on proven and widely used technologies.

Weaknesses of the project:

there are no specialists in the field of trading and creation of investment

portfolios.

competitive advantages are insignificant (however, a project

representative stated that the team is in contact with several reputable

crypto portfolio managers/funds).

no market entry strategy or methods of attracting users to the platform

(the team will be working with a digital marketing group and with

several notable crypto influencers/traders who will be promoting their

Skraps portfolios to their social media followers).

Market and Industry

Capitalization of the cryptocurrency market is US$589.7 bln as of 18.11.2017

according to data from CryptoCurrency Marketing Capitalizations. According to

Infoholic Research LLP report, the Cryptocurrency and Blockchain technology

market will grow by 35.2% in the next five years.

According to blockchain.info in the world there are 14.7 mln users of cryptocurrency

wallets, it is also expected that the increase in the number of users will be 40% per

year. [Https://blockchain.info/charts/my-wallet-n-users?timespan=all],

[Https://www.researchandmarkets.com/research/34frjf/worldwide],

[https://coinmarketcap.com/]

According to information in the white paper, 40% of millennials believe that they do

not have enough money to start investing in the stock market; moreover, most of

them believe that a large sum is needed for starting.

According to the team, returns on investments in cryptocurrency and tokens could

amount to more than 15-20% per annum. The capitalization of cryptocurrency at the

time of writing the white paper was $163 billion. White Paper

Comments: The market for cryptocurrency and its users is dynamically developing,

which speaks about a possibility for the project to occupy its niche given the correct

strategy of promotion.

Competitors

The team pinpoints the following competitors in the field of micro-investing:

Acorns — a micro-investing platform that rounds up purchase amounts to the

nearest number and invests the difference in different assets depending on the

client's risk appetite.

Stash — a micro-investing platform.

Clink — an application for investing that also forms a portfolio for the user.

Competitors in the field of investing in cryptocurrency:

Coinflash — a platform that invests the results of rounding up in Bitcoin or Ethereum.

Dust — a platform for investing a small change from daily purchases in

cryptocurrency portfolios. [White Paper]

Summary: The main difference of Skraps from its competitors is the possibility for

investing in both fiat and cryptocurrency, as well as the possibility to invest in crypto

assets.

Engineering features of the platform

The platform will function as follows:

1. A user connects their cryptocurrency wallets and debit/credit cards to the

platform.

2. Makes a purchase using them.

3. The purchase amount is automatically rounded up.

4. The difference between the rounded up sum and the purchase sum is

invested in assets that meet the risk level of a user's preferences. White

Paper

Technical description

The platform uses smart contracts and an API to perform operations. In addition, it

will use the ENS service to give smart contracts user names.

All user data is protected by 256-bit encryption.

Oracle services will be used to obtain prices for different tokens.

The Skrap wallet will be connected to three different exchanges: Kraken, Poloniex,

cex.io. White Paper

Comments: The team will use existing technologies that already function

successfully.

Technical roadmap

In the future, with the development of the technology and the amount of data it is

planned to implement the following:

April 2017 – Concept.

December 2017 - white paper - ICO smart contract audited and released.

February 2018 - mobile + desktop application development.

March 2018 - Beta desktop + mobile app version released to whitelist members.

April 2018 - Beta v1.0 desktop + mobile app versions released to general public.

May 2018 - Production ready app v2.0 released.

June 2018 - Desktop + mobile app versions released to general public.

July 2018 - Open source development governance process to community.

August 2018 - SKRAP DAO complete. White Paper

Comments: The roadmap presents a step-by-step development of the product. The

white paper has a description of the platform; on the site one can find out how the

mobile app interface will look. The repository is not yet available, but the team

promised to create it and open the code in the last week of December.

Documentation

We checked the site and documentation of SKRAPS for sufficiency and consistency

in order to make an investment decision.

The documentation includes the white paper, presentation and the terms and

conditions, all available in English (updated languages on the site). The project is

described in sufficient detail in the white paper. The main emphasis is placed on a

detailed description of the technical component of the project, the principles of

platform operation and the benefits of investing in crypto assets.

The website also provides information on the project, the staging of the public ICO,

system operation, roadmap, the partners, advisors and team. The site is available in

English. An additional feature of the site is that it provides only necessary

information, allowing a reader to form an impression about the project.

Summary: The documentation provides insight into the project. The principles of the

platform operation are described in sufficient detail.

ICO

Tokens to be issued for sale, % 0.6

Public ICO Start: 15 January 2018

Token type: ERC20

Accepted payments: ETH, BTC, LTC, BCH, DASH, XRP

Price of 1 SKRP:

1st week - $0.30.

2nd week - $0.35.

3rd week - $0.40.

4th week - $0.45.

Crowdsale duration: 4 weeks, until 15 February 2018

SKRP is the currency of the platform, used to pay for Skraps account services,

platform payment of 5%.

SKRP will also be used to pay for professional managers who will manage

investment portfolios on the platform.

Issuance of tokens limited to: 110,000,000

Advantages for token holders: Tokens are functional which enable either

payments for platform services, or sale of the tokens.

Dividends: no

Additional issue of tokens: no

Escrow: no

Max Goal: US$21,450,000

Minimum Goal: US$1,000,000

Bonuses: It is possible to purchase a token at a lower price in the first week of the

ICO.

1st week - $0.30.

2nd week - $0.35.

3rd week - $0.40.

4th week - $0.45.

Bounty program

Link to Bounty

Scheme of the program % distribution 5.5 mln SKRP is allocated to the Bounty

program. The program is open in the following directions:

Telegram - 275,000 SKRP

Subscriptions - 825,000 SKRP

Facebook / twitter - 1,100,000 SKRP

YouTube - 550,000 SKRP

Blogs / articles - 550,000 SKRP

Translation - 275,000 SKRP

Referral programs - 1,100,000 SKRP

Reddit - 275,000 SKRP

Special programs - 550,000 SKRP.

Summary: The project has an extensive bounty program. All the terms of the

program are specified under the link.

Token and capital distribution

Tokens and capital are distributed according to the following scheme:

Summary: Tokens do not affect the distribution of shares in the company. The

reward system is set up so that it is more advantageous to buy tokens earlier.

Development plans

Roadmap of the project:

April 2017 – Concept.

December 2017 - white paper - ICO smart contract audited and released.

February 2018 - mobile + desktop application development.

March 2018 - Beta desktop + mobile app version released to whitelist members.

April 2018 - Beta v1.0 desktop + mobile app versions released to general public.

May 2018 - Production ready app v2.0 released.

June 2018 - Desktop + mobile app versions released to general public.

July 2018 - Open source development governance process to community.

August 2018 - SKRAP DAO complete. White Paper

Summary: The roadmap presents a description of the development of the technical

aspect of the project, but there is no description of any marketing campaign nor any

strategy for scaling.

The project team is staging the ICO on the basis of Skraps Inc., however, in the

future SKRAPS DAO will be convened.

Team

The team consists of 9 people, as well as 5 advisors. Information on the core

members of the team (LinkedIn) is as follows:

Kal Mokhtar (Linkedin) Co-founder and CEO. Co-founder of Organicade, Inc.,

founder of KTM Trade, LLC, formerly manager of International Business

Development at UNCL.

Mohamed Sherif Effat (Linkedin) Co-founder. Formerly a financial analyst at

Nobelis Egypt.

Bogdan Fiedur (Linkedin) Blockchain Expert. Co-founder of Bitjob, consultant on

Blockchain and ICO at PayPie, Auditchain, Requitix.io.

Vinshu Gupta (Linkedin) Blockchain Expert. Blockchain Consultant at Emirates

NBD, formerly software developer at Sopra Steria.

There are 5 other people in the team.

Summary: 5 out of 9 employees indicated their affiliation with Skraps. However, we

note that almost all members of the team position themselves as advisors, although

the website names them as members of the team.

The team also has the following specialists and experts: developers, marketer and

manager.

Marketing

Information about the project is available on a variety of popular services such as

Twitter, Telegram, Medium, Bitcointalk, Linkedin, and Facebook. The project has a

bounty program open.

The project is active on social media; there are regular news updates on Twitter and

Facebook. The team communicates with users on Telegram.

The format of articles on the project suggests that they were primarily ordered by the

project.

Comments: The level of interest in the project is low for the time being. The

marketing campaign is mainly being developed on Twitter and Facebook.

Analysis of SKRAPS website traffic based on Similarweb.com data showed the

following:

Traffic sources: Similarweb

Comments: direct: 86.84%, referrals: 12.34%, search: 0.82%.

Search traffic: 0.82%, of which 100% is "organic" traffic

Referral Links: 0.1234

Traffic sources: https://a.pr-cy.ru/skraps.io [https://a.pr-cy.ru/skraps.io]

Site evaluation: 0.68

Traffic: visitors: 2 329, views: 9 330

Social activity: score: Facebook - 31

Summary: Based on available data on the project, it can be concluded that there is

growing interest in the project (the team has won voting campaigns on ICOBox’s

platform with over 4000 votes and have also been upvoted on several listing and

rating sites like https://cryptorated.com/ico-request-pipeline/). The team is conducting

an advertising campaign on social media, and communicating with users via

Telegram.

Contacts

You can contact the developers through the following links:

Website

Twitter

Telegram

Slack

LinkedIn

Facebook

Bitcointalk

The information contained in the document is for informational purposes only. The views expressed in this document are solely personal stance of the ICOrating Team, based on data from open access and information that developers provided to the team through Skype, email or other means of communication. Our goal is to increase the transparency and reliability of the young ICO market and to minimize the risk of fraud. We appreciate feedback with constructive comments, suggestions and ideas on how to make the analysis more comprehensive and informative.