The ICO rush is upon us, with dozens of new initiatives popping up every day. And while some ICOs will be the next big thing, some are doomed to fail from the get go – telling who’s who is no easy task. This article is a part of a series of reviews created by the Finance Magnates Intelligence Department as a public service.
The Athena project is described as a neutral network and blockchain-based technology that eliminates emotions while increasing revenue for day traders. The main purpose of the xAthena platform is to reduce losses by monitoring investors with thermal cameras, pulse meters and retinal cameras during their work. Data collected is then compared with trading results and the correlations are analyzed. The final product will help anticipate short-term future developments of their actions, according to the company statement.
- Category – Emotional analysis
- ICO Date – 12.10-29.11.2017
- Total supply – 200 million ATN tokens (96% crowdsale distribution, 4% bounties, partners and giveaways)
- Maximum raise – +10 million EUR (5% crowdsale promotion, 35% core development, 30% operational costs, 15% marketing and sales, 15% legal services)
- Available payments – ETH
- Founded – 2017
- Blockchain platform – Ethereum
- Regulation – Sending of token is provided through smart contract and is fully automated
- Website – https://www.athenacoin.io
The Athena team consists of more than a dozen individuals and external advisors, specializing in neurology, psychiatry and sales.
Michal Bezvoda (Project leader) – Founder of the Athena project, previously connected with APOGEO Group, DREPO CZ and AMI.
Jan Smetana (Developer) – Specializes in internet technology, worked for Etnetera, Adastra and Vodafone.
Martin Taranza (Developer) – Application developer on the Linux platform, focus on usability and code readability. Cooperating with Scrive, in the past cooperated with Seznam, UXVive, Klarna AB, Acision, Novell and SUSE Linux.
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Technology and features
Currently, the initial coin offering is approaching the end of the second phase (20.10.2017), but there are still five other rounds remaining, offering extra bonuses for early holders. According to the company’s roadmap, the token distribution should be finished by December 2017, and the project itself will be fully operational in Q2 2019. Funds gathered during the ICO will finance medical equipment, specialists and focus groups needed to complete the research and development process.
The primary targets of the xAthena platform are the FX, cryptocurrency and stock sectors. Secondary targets are the aviation, automotive and military industries. Using advanced data mining technology for emotional and performance analysis along with blockchain technology should bring a final, commercial product for individual traders and enterprises. There are several potential profit streams, such as licensing to use the patents, the monitoring platform, xApollo broker, dedicated platforms and selling monitoring equipment designed for xAthena.
Currently Athena has a patent application for its project with the Industrial Property Office of the Czech Republic (PB 2017-591). It is trying to obtain similar patent in the US and in other jurisdictions, but it requires more data research.
Using thermal cameras, heart rate bracelets, direct brain scanning technologies and mixing it up with blockchain technology may sound like a scenario for a good science-fiction series. But for the team behind the Athena project and ICO investors, an innovative system can become a viable one in the coming years. Despite very well prepared whitepaper, the documents lack business model details, accurate revenue projections and ATN token price forecasts.
Currently the xAthena system is only a concept, of course extremely interesting, but carrying a visible investment risk for potential token holders. The company needs to gather 0.5 million EUR to implement its current development strategy and at least 10 million EUR to conduct research on a statistically representative group of traders.
Through the Athena project, traders could be able to get their emotions under control and reduce the chances of making bad investment decisions. This concept may be interesting to many members of the crypto community, however the return on investment in ATN tokens is not certain. The only statement on the revenue distribution says that Athena shall use 35% of its net profit (for the previous quarter) to repurchase its own coins and burn such purchased ATNs (starting from Q1 2018).
- Team – 3.5/5
- Legal – 3.5/5
- Whitepaper – 3.5/5
- Partners – 4/5
- Financial model – 2/5
- Overall – 3.3