Interview with CoinDaily’s CFO Nate Zhang.
Nate Zhang — Financial Director of CoinDaily answered our questions in regards to upcoming initial coin offering of the platform.
Check out our review of Coindaily platform by the link.
Q) What is the concept of Coindaily. Would you be so kind to describe the idea, target audience and revenue generation model?
A) Concept: Coindaily platform will serve the users, including investors and project teams, with all the information you need to make an investment decision or perform a fund raising event. Mainly, the platform will include project basic introduction information, ratings from the most well-known agents, third party indicators, UGC, and verified investment channels.
Target Audience: Global blockchain investors and blockchain teams.
Revenue Generation Model: Advertisement fees from project teams; User premium services such as in-depth analysis reports, asset management consultancy; PUSH transaction fees; ICO commission fees.
Q) Who are competitors of Coindaily? Is there any example of the same platform with token integration in it?
A) There are ICO info platforms such as icodrops.com, there are rating platforms like icorating.com or icobench.com, there are investment platforms such as leekico.com, but there aren’t any similar platforms like Coindaily that incorporates all these services in just one place and also applies an innovative token model, with which it will stimulate users to engage more and perform better.
Q) Coindaily Platform consists of several parts and modules. Can you shortly explain what each or main part is for, and especially the difference between Project Information Platform and Rocket Schedule (ICO Information Platform)
A) There are two types of users in the platform: investors and Projects/third parties. For services for investors, there are mainly project information, ratings, investment channels, asset managements, and PUSH transactions. For services for projects/third parties, there are precise advertising services, project fundraising event listed services (verified and pledged, also known as Rocket Schedule).
Q) Roadmap. Could you tell me some more about last two stages of your roadmap? Project Lab launch in Oct 2019 and Public chain launch in 2020. I was not able to details about this in Whitepaper.
A) Project Lab: The reason we want to build this chain is because we plan to, eventually, decentralize our platform, especially for the investment function. If by that time there aren’t any existing blockchain that can satisfy our needs, we would have to build our own chain to achieve the goal.
Q) There are several websites which aim to provide very similar services on ICO projects to crypto community for free (reviews, ratings, scores, etc). What is the main Coindaily advantages? For example I am an ordinary crypto enthusiast with 2 Ethers. How Coindaily can be useful for me? And should I pay for it? What if I am a big investor? The same question?
A) Coindaily users not only can enjoy various free services from the platform but also can earn token by performing certain procedures such as creating insightful contents or watching certain ads. But the main advantages are: 1. the platform is integrated with comprehensive services assisting users from understanding, analyzing, and to investing in the projects,etc. Most of services/rewards are open to the ordinary users, even when you hold only 2 ETHs, and while you are super user, you could enjoy more discounts on premium services, etc.
Q) Why Coindaily need its own token? Why don’t you just establish price list for Coindaily services in BTC/ETH/etc?
A) a. Raise fund to develop and maintain the platform; b. Holders of the token will also be users of the platform. c. In the long term, we are planning to build our own blockchain, DAILY token is needed.
Q) On Aug. 22, WeChat, China’s biggest messaging app that has over 1 billion active monthly users, banned the accounts of cryptocurrency investors, users and businesses. As I understand Coindaily account with more that one hundred thousands followers was banned as well. What impact it will have on Coindaily business? What will you do if crypto business will be totally banned in China?
A) Our business was not affected too much due to the preparation we have done for such events. About three months ago, we started to migrate our users from WeChat account to lots of other different accounts and other media channels. The Coindaily Platform is targeted at the global market, hence if crypto business were to be banned entirely in China, it wouldn’t change too much of our daily operations.
Q) How you choose projects for evaluation? Are there any criterias for choosing? Who provides the analysis? Do you have clients who order the evaluation/analysis? Who are those clients?
A) Coindaily rating team chooses their rating project independently. Sources of their rating projects include but not limited to: projects self-application, advisors recommendations, community popular projects, etc.
Q) When do you plan to provide public sale?
A) October 2018 for 2000ETH
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