ICOrating

FABRICTOKEN Basic Review (https://fabrictoken.io/)

ICO dates (15.02.2018 — 01.04.2018)

Web: icorating.com

Email: info@icorating.com

Twitter: @IcoRating

Project details

Name: FABRIC TOKEN

Ticker symbol: FT

Project type: Cryptocurrency, Platform

Extended company description: The Fabric Token ecosystem is a set of programs

enabling anyone to develop, test and deploy their own applications based on

blockchain (DApps), and supplies ready-made smart contract templates.

Company: Niquid Tech OÜ

Website

Whitepaper

ICO details

Public ICO start date: 15.02.2018

Public ICO end date: ~ 01.04.2018 or upon reaching the fundraising limit

Token Sale duration (weeks): 6.4

Token type: ERC20

Token emission: 100,000,000

Tokens available (Pre-Sale + Public ICO): 80,000,000

Investment goal:

Price for 1 FT token: 0.1125 USD

Accepted payment: ETH

Bounty: The program is active until the end of the ICO.

Token role: Functional

Team

Team (number of people): 9

Advisors and partners (number of people): 6

GitHub

Project information

The Fabric Token ecosystem is a set of programs enabling anyone to develop, test

and deploy their own applications based on blockchain (DApps), and supplies ready-

made smart contract templates.

Fabric Token is designed to help individuals and businesses implement blockchain

technology and smart contracts into their business processes. TokenGen is a web

application developed for individuals to use, that enables anyone to create smart

contracts for tokens and crowdsales.

The Fabric Token ecosystem comprises:

• Fabric Token – a digital asset to be used as the sole means of payment on

the platform.

• TokenGen – a web application that enables users to create smart contracts

for their own tokens, and create crowdfunding campaigns.

• DApp Workbench – a platform that will enable enterprises to model,

implement, maintain and improve their business processes by deploying

blockchain technology and smart contracts.

• Fabric Store – a decentralized marketplace to assist third-party

programmers to develop components for smart contracts.

Advisors:

Marian Nedelchev (LinkedIn) - Business process management consultant. Senior

analyst at DXC Technology, previously senior analyst at AQX Technologies,

Business Analyst at Bul SI, Business Systems Analyst at Stemo Ltd.

Dimitr Boyanov (LinkedIn) - Corporate and legal advisor. Developer of cloud

solutions for developers at Dassault Systèmes 3DEXCITE, previously senior

software developer at Deutsche Bank AG, web developer at Ciela Norma AD.

Krstyu Georgiev (LinkedIn) - Technical consultant. Architect Microservices & SOA

at IT Consultant.

Milen Ivanov (LinkedIn) - Consultant in the field of market research and project

economics. A share trader at Alaric Securities.

Petya Vlkova (LinkedIn) - Project management consultant. Technical applications

expert at Experian, previously solution architect for Fadata, Hewlett Packard

Enterprises.

Simeon Karaivanov (LinkedIn) - Content editor. Rights Manager for Bard

Publishers.

Partners:

Wolf Crypto and SwissBorg.

Investment attracted: $787,500

Summary

The project consists of the Fabric Token ecosystem, built on blockchain technology

and smart contracts. We understand that the project aims to solve problems in

describing and automating business processes via the integration of blockchain and

smart contracts into BPM. Blockchain technology could be useful in this direction,

and the project could attract the blockchain community’s attention as a result.

Strengths of the project:

• The chosen market demonstrates high growth rates.

• The project has been assembled by an experienced team of developers and

advisors.

Weaknesses of the project:

• The MVP is not yet available; the project team will submit TokenGen 1.0 in

February 2018 and the beta version of Fabric Store in December 2018 (more

information about the MVP is disclosed in the relevant section).

Market and industry

A report by Infoholic Research LLP forecasts that the cryptocurrency and blockchain

technologies market will grow by 35.2% in the next 5 years.

In 2017, the total volume of the crypto and smart contractsmarket was about $100

billion [Market Reports Hub], $24 billion of which was based on Ethereum.

The CAGR of the smart contracts market is forecast to be 61.5% for Ethereum up to

2021.

[https://coinmarketcap.com/]

According to the team’s analysis, about 15% of banks worldwide expect to be widely

implementing blockchain technology by the end of 2017; this number will be 66% by

2020. Research by Accenture Consulting conducted in conjunction with McLagan

concluded that banks can save 70% of their potential costs for creation of financial

statements, 30-50% of potential costs of compliance, 50% in business transactions

and 50% in centralized operations. In total this will save about $8 billion.

In addition, smart contracts continue increase in use, as evidenced by a Deloitte

survey conducted at the end of 2016, where 46% of respondents said they would

“conclude contracts with another party using a smart contract based on blockchain”.

The team also provided detailed research on current problems for smart contracts.

Comments: The market for smart contracts is developing dynamically, which assures

us the project will be able to occupy its market niche.

Competitors

• Etherparty - contract designer eliminating complexity in creating, managing

and executing smart contracts on any blockchain system.

• Agrello - a platform that develops smart contracts for business.

• Blockcat - a visual designer for smart contracts enabling anyone to create

and deploy smart contracts on the Ethereum blockchain without coding skills.

Summary: Fabric Token has a more balanced ecosystem than its competitors,

predominantly oriented to a specifically enterprise market segment.

Engineering features of the project

The ecosystem is built around blockchain and smart contracts. Solidity technologies

will be used to ensure security.

DApp Workbench acts as a go-to product for the integration of blockchain and smart

contracts into traditional business process management. The application will be

equipped with a drag-and-drop interface built using the BPMN 2.0 standard, which

will enable the import and use of workflows created with other BPMN-compatible

tools.

BPMN is a notation system for modeling business processes developed by Business

Process Management Initiative and supported by Object Management Group after

the merger of both organizations in 2005.

Technical description

The ecosystem consists of 4 components:

• Fabric Token.

• TokenGen.

• DApp Workbench.

• Fabric Store.

1. Fabric Token – a digital asset that will be used solely as a payment instrument for

the products and services provided by the ecosystem.

2. TokenGen – a web application that enables users to create smart contracts for

their token and organize crowdfunding without special programming skills.

TokenGen functions as follows:

1. A user requests a smart contract for a personal token and crowdsale.

2. A ticker symbol for the token, its name and other information about the staging of

the future ICO is provided.

3. Generation and testing of the smart contract occurs.

4. Payment for the service, receipt of the smart contract.

3. DApp Workbench – an application that enables businesses to use decentralized

technologies within their company’s operations.

4. Fabric Store – a decentralized marketplace that enables third-party developers to

create smart contract components for the Fabric Token ecosystem, thereby scaling

the system.

MVP

The first main component of the ecosystem is TokenGen. Users are able to create

new tokens and hold a company crowdsale using TokenGen.

The main functions of TokenGen are as follows:

• Token smart-contract templates.

• Crowdsale functionality.

• For payments (in Fabric Tokens).

TokenGen is straightforward to operate. Detailed documentation will be available on

the Documentation page of the website after the crowdsale.

[https://fabrictoken.io/tokengen-showcase-smart-contract-generator-token-economy/]

Comments: The project system is wide-reaching, but all components use proven

smart contract technology.

Technical roadmap

With the development of technology and data capacity it is planned to implement the

following:

• February 2018: TokenGen 1.0 released - includes a fully functioning web

application for creating smart contracts.

• April 2018: TokenGen 2.0 is released - additional templates of smart

contracts added.

• July 2018: A public beta version of the DApp Workbench is released -

includes fully functional DApp Workbench desktop application, as well as

cloud version with a limited set of smart contract components.

• September 2018: DApp Workbench 1.0 is released – with extended

components of smart contracts added.

• October 2018: Fabric Store development commences.

• December 2018: Public beta version of Fabric Store available. Partially

functional interface connected to Fabric Store smart contracts is available for

testing purposes.

• February 2019: Official version of Fabric Store 1.0 launched.

• After February 2019: Further improvement of the token ecosystem.

Comments: The project team has provided a detailed plan for platform development

but there is only one developer in the team; there are therefore risks that the project

will not be completed to schedule.

The following active modules are available in the open repository:

GitHub

Repository

• Commits: 9

• marinivanov: 100.00%

Repository

• Commits: 4

• marinivanov: 100.00%

Comments: The repository contains two open modules:

• fundraiser-contracts - a smart contract for the ICO.

• status - status of the Fabric token.

The repository is owned by Fabric Token. A team representative stated that most

developed components are on the BitBucket repository.

Documentation

We have analyzed the Fabric Token website and documentation for sufficiency and

consistency for making an investment decision.

Information about the project is contained in the White Paper, Privacy Policy and

Terms & Conditions. The documentation is presented in English. In the White Paper,

the project is described in sufficient detail. The main emphasis is on platform

components and market analysis.

The website also provides information about the project, the ICO, platform

components, the roadmap, frequently asked questions with answers, consultants

and the team. The website is presented in English, Russian, Chinese and Bulgarian.

The website features a detailed description of the platform’s services and step-by-

step instructions for buying tokens.

Summary: The documentation enables a comprehensive view of the project.

Platform components are described in sufficient detail.

ICO

Tokens for sale, %: 71.25

Public ICO start date: February 15, 2018 10:00:00 UTC

Token type: ERC20

Accepted payment: ETH

1 FT price: 0.1125 USD

Crowdsale duration: 6 weeks, until 01 April 2018 10:00:00 UTC

Fabric Tokens are intended to be used only as a means of payment for products and

services within the FT ecosystem.

Fabric Token can be used to purchase products and services offered by the FT

ecosystem. This includes token contracts and crowfdunding campaigns generated

by TokenGen, buying a subscription to DApp Workbench, etc. Fabric Tokens will

also be used as a digital asset that third-party developers and users may exchange

in the Fabric Store. The Store will also enable third-party developers to earn tokens

and create a reputation for themselves by complementing TokenGen and DApp

Workbench with proprietary software elements.

These tokens are not intended to be used as a digital currency, securities or other

financial instruments, but as a digital asset analogous to downloaded software.

Token limitation: 100,000,000

Advantages for token holders: Tokens are functional, enabling users either to sell

them or to use them for accessing platform services.

Dividends: No

Additional Token Issue: No

Escrow: N/A

Max goal: $9,000,000 in ETH

Min goal: None.

Bonus: No

Comments: Participants will immediately receive the correct amount of FT by

sending ETH to the company's fundraising smart contract. After this, tokens may be

transferred according to their intended use once the ICO is finalized. Any ERC20-

compatible wallet is suitable for the storage and transfer of Fabric Token.

Bounty

Bounty program

The project allocates 1% of all tokens to the bounty program, which is open in the

following areas:

• 50% (500,000 FT) for the Signature Campaign.

• 25% (250,000 FT) for the Translation Campaign.

• 10% (100,000 FT) for the Blog/Media Campaign.

• 10% (100,000 FT) for the Airdrop Campaign.

• 5% (50,000 FT) for the Twitter Campaign.

Summary: The project has an extensive bounty program. All conditions for the

program are indicated at the link above.

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 advisors' tokens will be frozen for 180 days; tokens allocated to the core team

will be frozen for a year.

Development plans

The Roadmap:

Summary: In the project’s documentation, the team elaborates a roadmap with

stages for release of the ecosystem’s components. Market development plans will be

published after the launch of TokenGen 1.0. TokenGen will be accessible

immediately after the ICO ends at tokengen.io. Information about the MVP’s

functionality is available in the technical section.

Team

The key team consists of 9 people and 6 advisors. Information about the main team

members based on LinkedIn is given below:

Nikolay Nikov (LinkedIn) - CEO and Head of Strategy and Business Development.

Founder of Niquid Tech, senior software developer at Luxoft, previously a software

engineer for Experian.

Marin Ivanov (LinkedIn) - Technical Director. Software developer at Patchman B.V.,

previously technical manager for Casino Technology, senior web developer at Stenik

Group Ltd.

Doncho Karaivanov (LinkedIn) - Operational Director. Co-founder of Niquid Tech,

CEO and co-founder of Inet Solutions, previously Java developer for Bul SI Ltd.

Summary: The CEO and COO have indicated their ownership of the project’s parent

company.

The team is mainly from Bulgaria. The team also includes professional developers, a

business analysis professional, and a professional reader with more than 5 years of

experience.

Marketing

Information about the project is available through various popular services: Twitter,

Telegram, Reddit, Medium, Slack, LinkedIn, Facebook, GitHub and BitcoinTalk. The

project has a bounty program.

The team is active on social media; news is regularly updated onTwitter and

Facebook; there is a blog on Medium, but the main blog is on the official website.

The format of articles about the project shows that they were written mainly at the

project's request.

Comments: Interest in the project is gradually growing. Marketing is primarily

focused on ICO listing sites such as CoinSchedule and ICOBench, as well as news

coverage on the largest crypto news sites: CoinTelegraph, BitcoinMagazine, etc. For

social media, the most active channel is Telegram.

Traffic analysis of the FABRIC TOKEN website based on Similarweb.com data

showed the following:

Traffic source: [Similarweb]

Comments: direct link: 28.48%, referrals: 49.25%, search: 10.29%, social media:

3.77%, mail: 8.20%

Total visits: approximately 95,000

Search traffic: 10.29%, 100% of which is “organic”.

Referral links: 25.29%

Top referring sites:

• hackernoon.com - 56.60%.

• coinschedule.com - 13.84%.

• bitcointalk.org - 10.19%.

• tokenmarket.net - 3.91%.

• icobench.com - 3.68%.

Traffic analysis of the FABRIC TOKEN website based on analysis data showed the

following:

Traffic sources

Website rate: 0.80 (80%)

Activity:

• visitors: 14,518,

• views: 58,080

Social activity:

• score: 94,

• source:

o VK: 0,

o Facebook reposts: 94,

o Google+: 0

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

gradually growing. The team is leading an advertising campaign primarily via ICO

listing sites (CoinSchedule, ICOBench, etc.), the most popular crypto news sites

(CoinTelegraph, BitcoinMagazine, etc.) and communicates via Telegram. The

number of visits to the project’s ICO site has increased almost 20 times (from 5,000

in December 2017 to 95,000 in January 2018).

Contacts

The developers may be contacted using the links below:

Website

Twitter

Telegram

Medium

Slack

Reddit

LinkedIn

Facebook

GitHub

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.