Tolar HashNET ICO Review
Tolar (tolar.io) is working on the creation of their own blockchain fueled by its own cryptocurrency – TOL. It will use the Proof-Of-Stake consensus algorithm alongside with masternodes verifying transactions. Tolar’s team recently demonstrated a prototype of their network were they achieved 130 000 TPS capacity, but do not be deceived, it’s only DEMO made under ideal network conditions.
- Token Supply: 1 000 000 000 TOL
- Tokens for sale: 35 % (350 000 000 TOL)
- Token Issue: 7-10 days after the end of ICO
- Token Lock: Only bonus tokens locked for 3 month
- Pre-Sale Token Price: 0.000167033 ETH (currently live; 10 ETH min contribution)
- Crowdsale Token Price: 0.000183736 ETH (min contribution: TBA)
- Soft Cap: 20 000 ETH (approx. 9 400 000 USD)
- Hard Cap: 57 000 ETH (approx. 26 790 000 USD)
- Bonuses: 10-50 ETH invested = 10 %; 50+ ETH invested = 20 %;
- Raised on Private Round: Unknown
- Restricted countries: USA and China
- 35% Token Sales (Private round; Pre-Sale and Crowdsale)
- 32% TOLAR Development Fund
- 8% Proof of Stake Network Start Nodes
- 20% Founders (locked for 24 months)
- 2,5% Developers
- 2,5% Advisors
Recently Tolar opened whitelist and KYC registration for Pre-Sale and Crowdsale. Exact dates of Crowdsale are still TBA but planned on Q3 2018 (late August).
The private round already finished. Min. contribution at was 50 ETH for individuals and 1000 ETH for organizations, both with a bonus of 20 %.
Whales and Funds
There is not much information available about institutional investors who are already onboard with Tolar. Team prefer to not comment on anything related to institutional investors and their participation. Our team has manually checked it and that’s what we know so far.
According to the official Tolar’s website, there are 6 VCs; 2 crypto influencers (Diddy Carter and CryptoCalibur) and 1 service company for advertising, advising and similar services (Wandarin). After a manual check, we may verify participation only of 4 institutional investors, but due to the lack of information, there may be more participants. Here is the list of proven Tolar investors:
- Blockoxfund. Invested in several crypto assets such as Merculet; OneLedger and EdenChain. Mostly active in Asian markets. According to the information, portfolio has around 30 projects, but we found out only 20 in it..
- Blockground Capital (BG Capital). Their portfolio has even fewer projects than Blockoxfund. OneLedger and EdenChain are the most notable investments of BG Capital.
- GC Capital. Their portfolio consists mostly of blockchain infrastructure projects (similar to Tolar). They have invested in 11 blockchain projects already.
- POD Capital. It has invested only into 4 blockchain start-ups and current status for 2 of them is undefined: Neurochain is not trading since ICO (~3 months passed already) and Open Platform which is periodically changing their crowdsale dates. In our opinion, mentioned investors do have an average or below-average impact on the market due to the size of their portfolio. Mostly, they have 8-10 projects each (maybe more, maybe less). This reduces the likelihood of price manipulation after Tolar will be listed on exchanges.
Tolar is mostly active in two social channels:
- Telegram – 13 376 members (on the 6th of July). When they opened whitelist registration, chat became active, but still not much. Mostly, questions are related to the KYC and token sale process. Their admins think that the best way to answer for the inconvenient question is simply delete a message. We noticed after continuous monitoring of their Telegram group. Several people told that they were banned after questions about investors and the hard cap. Therefore, admin’s work is questionable.
- Twitter – 1 844 followers (on the 6th of July). An account has been created at the end of February and since that time has 120 tweets. Mostly, it used for announcements and sometimes to retweet related content. Engagement rate is low, around 1-2% which is relatively low.
Medium account of the project has 19 articles about all important events related to the Tolar and its ICO. Youtube has videos but almost each of them has less than 100 views. Other social media channels are also present but used mostly to repeat content published in Twitter and Telegram.
There are many competitors already on the market. Some of them have already launched their MainNet and few will be launched until the end of 2018. Blockchain infrastructure is one of the most competitive industry at the moment.
The most recent projects in this field are Fantom and QuarkChain, both successfully reached the hard cap and should launch their networks in early 2019. To be successful Tolar should be able to compete with such well-known players as Zilliqa (MarketCap: $616M); ICON (MarketCap: $634M) and Ontology (MarketCap: $707M). As you may have noticed, the target market for such projects is around $500M and probably Tolar aims to reach the same valuation after the launch of the network. According to the roadmap, Tolar MainNet is scheduled for Q2 2019 (April-June 2019) until that moment, TOL tokens will be issued on Ethereum blockchain as ERC-20 tokens.
Team & Advisors
- Josip Maricevic – Co-Founder, CTO. He is an experienced iOS developer (8+ years). Also, he was working for 6 months at BlockNote start-up as a core blockchain developer. His skillset consists mostly of programming languages and related skills. It has been verified by other LinkedIn members.
- Drazen Kapusta – Co-Founder, Principal. Before Tolar, he wasn’t involved in blockchain projects but has a lot of experience as a serial entrepreneur. His LinkedIn profile has a lot of recommendations given by other members. Skillset consists mostly of business management skills and all of them verified by dozens of people.
- Zoran Dordevic – Board Member. Experienced Director with a confirmed experience in the higher education and consulting industry. He was also one of the founders of the Blockchain Academy.
Totally, the team consist of 24 members + community managers. All of them have verified LinkedIn profiles, but from my point of view, they have lack of blockchain-related experience.
Tolar will face huge competition in the market and have to be prepared in terms of marketing and incentive mechanisms. Their product is not unique and looks like they’ve missed the last train on the blockchains party. Hype level is average and their community is growing slowly.
We won’t participate in their crowdsale, but we will get in later when their MainNet will be about to launch.