Mobius ICO Review – MOBI Investment Analysis

https://mobius.network

ICO Details

Symbol – MOBI

WhitepaperLink

When – November 8th 2017

How to Participate – ETH, XLM, and BTC will be accepted in the sale.

Soft Cap – Unknown

Hard Cap – 39 Million USD

Total Max Market Cap At ICO – 130 Million USD (~39 Million Circulating)

Exchange Rate: Dependent on Presale:

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Total Tokens in Circulation At ICO – 888 Million MOBI (266 Million Circulating)


Overview

Mobius is a project with a large scope, one that is split up in to several unique propositions with regards to their ecosystem. Firstly, Mobius is built as a bridge between real world information and blockchain based Smart Contracts – readers of this site may already have another project in mind when this is mentioned by the name of Chainlink. Mobius is now a Chainlink competitor, offering their own method oracle data feeds and inputs into Ethereum based Smart Contracts and DApps. To keep descriptions short on why this is important, consider oracles and the services that use them as the API’s of blockchain – simple, turnkey solutions for gathering real world data to feed into Smart Contracts.

Mobius is much more than an oracle solution however – they also propose what’s known as the DApp Store, which is possibly the first time we’ve seen or heard of a concept like this. Developers will be able to place their projects and services on the DApp Store, where they will function similarly to Google Play and the Apple App Store. Mobius envisions their aggregation of these DApps as the future hub of activity for the release of DApps, and desire to be the service that helps to support these DApps by giving them a uniform platform with which to reach out to a global audience.

A final aspect of Mobius is their Smart Market Protocol – with this piece of software, users will be able to essentially sell Smart Contracts. A quick example of how this could be useful is with something like options or futures markets, where it becomes increasingly important that solutions are decentralized and robust. Users can also sell other things on the Smart Markets such as web services or computing power. With Smart Markets, Mobius enables a more decentralized economy by tackling centralized services and providing flexible solutions.

Strong developer communities along with open APIs are the key to the success of the internet and its ecosystem of enterprises. This includes the likes of Facebook, Salesforce, Amazon, and Alibaba.

Similarly, the success of the expanding the blockchain ecosystem requires both developers and robust API protocols. The open bidirectional Mobius protocol APIs turn the 18.2 million software developers in the world into blockchain developers through simple and standardized protocols.

Any developer can easily connect any application, device, or data stream to the blockchain ecosystem. Mobius is closing the gap between the internet and the blockchain world through a multifaceted solution creating easy developer tools, a consumer DApp Store, and a Smart Market to allow hyper-efficient transactions of processed real world data between autonomous agents with our Universal Proof of Stake Oracle protocol.


Team

user-41-6e7709ef1015d0ee75cd382939f3f918f3e3b07f59e3e245986151a2290de684.png

Jed McCaleb

Jed McCaleb is an American programmer known for creating the peer-to-peer technologies eDonkey and Overnet, as well as the bitcoin exchange place Mt. Gox. He founded the company Ripple in 2011, which he left, and the foundation Stellar in 2014.

 

The team for Mobius is possibly one of the weakest teams this author has seen in some time. While their whitepaper shows off their clear ability and aptitude for this undertaking, the actual experience and blockchain knowledge of the team here is dubious at best. They have a strong advisor in Jed, however the rest of the team is not particularly outstanding.

Positives

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Mobius has some amazing ideas tucked away in their whitepaper. Of note is their DApp Store concept, which is something we haven’t seen as of yet. Ethereum DApps have something that functions similarly with the site State of the DApps, however it’s clearly not meant for mainstream use. If Mobius were to deliver on the idea of a DApp Store, it would go a long way towards mainstream adoption and use – and an equally long way towards appreciation of their tokens. An MVP of their DApp Store can be found here.

One of the biggest problems hindering mass adoption of DApps and cryptocurrencies as fiat replacement is consumer discovery and adoption. Currently, there is no widely used DApp Store. Mobius is creating a universal DApp Store that will be similar to the Apple App Store and Google Play Store.

Any app that accepts the Mobius Token will be listed in the DApp Store. The DApp Store will also integrate the Mobius Token for a universal decentralized credit system that has significantly lower fees than the Apple App Store or Google Play Store.

The DApp Store fee will only be 8.8%. The 8.8% fee is only charged if
tokens are used through the DApp Store credit system – if the developer uses the API to receive tokens there is only a 1% fee. These numbers are subject to change overtime and the goal is to gradually decrease fees even more as network adoption continues to expand.

Mobius also takes a realistic approach towards seeding their community and fostering user growth – namely speaking, they will use MOBI tokens to incentivize users and developers to use the DApp Store. This is a common tactic that is used by many projects, such as PayPal cited in the excerpt below. However, I’m still curious why blockchain projects have yet to realize that the best way to onboard new users is to incentivize them with Bitcoin and Ethereum payouts as opposed to their own tokens. It might initially slow adoption of their MOBI tokens, but they could then transition over time to their own tokens after gathering a large enough user base. It certainly won’t be a problem of not having the BTC/ETH necessary for payouts as they are running an ICO.

Our thesis is that blockchain “content” in the form of apps will only come to
fruition if the best developers are given an economic incentive in advance of mass market adoption by end users. Such an option is only accessible by major enterprises with significant funding.

A notable example is PayPal’s Referral program, which resulted in 7-10% daily growth in the early 2000’s. The program had an initial CAC of $20.00, which triggered network effects since it offered free money to new users and their referrals.

In a winner-takes-all marketplace, the DApp Store requires a similar strategy to seed content and increase adoption; more DApps stimulates adoption, increasing the economic incentive to create and deploy new DApp content and closing the feedback loop.


Negatives

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Of all their weaknesses, Mobius has their biggest problem with their team members. Blockchain technology is such a specific software sector that you simply can’t find and hire blockchain engineers that will be willing to work with your project and also be competent enough – you need to have them on your team from the outset. The scope of Mobius also means that this project is likely one of the tougher applications of blockchain, and it puts even more stress on the team to deliver a top notch product.

Secondly, the scope of Mobius feels like it’s far too big. Are they primarily focusing on their DApp Store, their oracles, or their Smart Markets? In a world of specificity and niche solutions to complicated problems, Mobius attempts to be a generalized solution that tries to solve everything at once. This has historically not been possible, or has taken an extremely long time to get any groundwork done – as examples, you can take a look at projects such as ARK and MAIDSafe. Their roadmap also feels like it has unrealistic expectations – they intend to release almost all parts of their project goals within the first 6 months of 2018. For a team of this makeup, it almost feels impossible that they will reach their goal.

Finally, the token sale economics aren’t ones that I am very impressed with. They are raising 40 million dollars which is already more than Chainlink has raised with their own project while lacking many of the advantages that Chainlink enjoys. Comparisons between these two projects will be clearly made, and Chainlink simply wins out on almost all of these.


Conclusion

For all the great concepts and ideas that Mobius has, it ultimately feels less like a real blockchain project and more like a whitepaper ICO. The weakness of their team is really something that troubles me, and I simply can’t advise anyone on that basis to invest in this ICO. The token sale terms aren’t impressive, and it also feels like Mobius is trying to bite off much more than they can chew with all of the offerings they’ve put forth. Mobius then, is ultimately a pass.

Investment Grade: 65%

 

One thought on “Mobius ICO Review – MOBI Investment Analysis

  1. wow thanks for the review tired of losing money on the block chain projects that never get off the ground I don’t have that much to invest, and a lot less than I did have but been learning a lot in the last year and I see a incredibly strong block chain future if the bad ones don’t bleed us all dry and we run out of money before it all takes off… I’ll look for your EOS review I expect that that and ADA will make us a million for every thousand we put into them by 2020

    Like

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