1-2: Whitepaper of the project looks like a brochure with the low level of readiness and transparency. Business plan and technology aren’t describer or described shortly. A product is just an idea without any tangible form. Target market has many different competitors. Blockchain implementation can be replaced with ETH itself. Contribution to the industry is vague or undetermined. The roadmap doesn’t’ look realistic and not clear about stages of development. Lack of team members or bad balance in terms of Biz/Tech/Blockchain expertise Token mechanics is absent or not clear. Type of the token is undetermined without attention to the compliance issues. The legal part of the project is not discovered. Critical points missed.
2-3: Whitepaper has insufficient coverage and missing critical information related to the project. Business plan and technology aren’t described in a simple way for average users. A product is at the stage of Proof-Of-Concept or Testnet without real-world implementation. A target market is small and already has different well-established competitors. Blockchain Implementation has some smart contract functionality with basic methods in it. No deeper understanding of the problem. A solution is decentralized a little bit with a lot of centralization. No real the value detected – just a marketplace or infrastructure with no visible need for it.
3-4: Whitepaper is readable and transparent partly with some sort of hype in it. Technology and business plan are described but covers only general points without the deep look of it. Still hard to understand by an average user. A target market is big enough to enter alongside with existing competitors. Has some potential to become if not a market leader, but a company with the Name. Minimum Viable Product (MVP) or Prototype released and available for users. Blockchain implementation is good enough to provide automation to certain functionality of the product. Decentralization is higher but centralized points exist. RoadMap looks like an overall plan with some milestones. The company itself has been already established and has structure.
4-5: Project has a long-term vision and solving one or more currently existing problems. A whitepaper is big enough to cover all details of the project and presentation of business plan and technology is very clear and detailed. An average user will understand everything after reading it. A product is at alpha or beta stage (even fully operational) with tested features and strong community. Token mechanics is clear and has distinctive use cases for the platform. Attention to the compliance issues is professional and looks like top-level. A roadmap is detailed with information regarding each milestone and plans are long-term (up to 5 years). The company is well-established (could have some fundraising). A team is highly skilled and balanced in terms of Tech/Biz /Blockchain. A target market is huge with the big customer base.