Devery ICO Review – EVE Investment Analysis

ICO Details

Symbol – EVE


When – Presale December 10, 2017, main sale January 21, 2018

Soft Cap – None

Hard Cap – 10 Million USD

Total Max Market Cap At ICO -16.5 Million USD

Exchange Rate: 1 USD = 6 EVE

Total Tokens in Circulation At ICO – 60 Million EVE


Devery is a new challenger in the product verification and authentication arena, with its primary goals being the resolution of some of the biggest problems in the trading of goods. I’ve spoken at length about this before in my review of WaBi here, but to reiterate: many third parties and malefactors disguise their false products and goods under the guise of popular brands and household names.

People naturally tend to gravitate towards a product of well-established brand compared to others due to the inherent security and quality of the product in question. As an example, many customers will purchase branded medical products as opposed to their generic counterparts (despite the ingredients being the same) simply due to perceived superior quality.

One of the problems with this kind of thinking, however, is that third parties can take advantage of that recognition and push their own bad items into the hands of unsuspecting customers. Devery’s approach is simplistic, and it reminds me a lot of Walton in this regard – their solution to this counterfeit problem is to digitally sign and verify items on the blockchain. They’ll do this for electronic/digital goods as well as physical goods, with the implementation of NFC and RFID technology.

Devery also aims to emphasize the ease of use of their platform, and defers gas costs to node operators, thereby removing the requirement of a customer to use Ethereum in addition to Devery EVE tokens. This is an important step, as every simplification of the process makes it that much easier and more likely to gain widespread adoption. I’ll make a small note here and say that I’m very interested and biased towards projects that have the end user in mind – should Devery focus on things like user experience (as they seem to be doing) then this will be a big plus.

The protocol is the base layer of the Devery ecosystem. It can be used to build application level verification services and can be integrated with any existing e-commerce stores, applications or services.
This fosters a competitive market of third-party verification services for specialty commercial markets, such as the clothing and apparel industry, technology, food markets, raw materials, education and other digitally sold goods and services.



Chironjit Das

Chironjit is a CPA with experience in various industries, including for one of the largest
retailers in the world, Tesco. His experience working in the industry exposed him the
challenges large companies face in securing their supply chains from fraud &
counterfeiting. He believes part of the solution to these issues is being able to tag and
track every individual item through every step of the supply chain.


Antoine Najjarin

A lawyer by profession, Antoine studied at the University of Technology, Sydney and the
University of Oxford. He was hired into a prestigious private firm upon graduation and
currently works for the government of New South Wales, Australia.



Bok Khoo

A respected member of the Ethereum community responsible for auditing a number of
high profile ICO’s including Status, Stox, Chronologic & countless more. He is also the
founder of one of the first decentralised exchanges, which has
processed over $60 million USD in ERC20 token trades.


Devery has a few great things going for it – of note to investors is their token terms. They’re looking to raise around 10 million USD for their project, and the team has stayed extremely loyal to this by keeping their cap low (despite huge demand). At a 10 million cap (which is likely to fill, considering the environment around Devery), it will have a 12.5x lower valuation than the leading competitor Waltonchain, which gives it plenty of upwards mobility. There is a trend recently in the altcoin space for RFID enabled blockchains, which adds additional desirability to these tokens.


The opensource aspect is also something that I don’t gloss over personally – many projects keep their code proprietary, meaning that there can’t be any kind of peer review or auditing of their contracts/code. This means that it’s much more possible that a project comes out having raised tens of millions of dollars and ships with a critical bug or vulnerability. The fact that Devery is open sourced makes this investor sleep at night much more easily.

Finally, Devery has their MVP in place in the form of the code that you can take a look at from their Github here. They already have the basic framework of their package in place, with a modest release date of Q3 in 2018 for their 1.0 version to be production ready.


A negative aspect of the Devery product is their team – I’ve stated this before, but as the ICO space becomes more and more competitive, it will become an increasingly necessary prerequisite to have an all-star team. While the Devery team has some great advisers who have done actual work on the Devery platform (such as the above mentioned Bok Khoo), it is a much harder comparison when looking at the field of amazing developers and business magnates that are advertising their own ICO’s.

Secondly, Devery will likely not be first to market with their product – Waltoncoin’s initial platform will release with a slated date of September 2018, which directly coincides with Devery’s Q3 2018 release timing. I expect things to get competitive between the two products, with Devery being the “little guy” in this match up. If Devery can speed up their iteration cycle and get a release in late Q2 however, that changes the story (note that this is also possible for Walton, which makes this entire rivalry extremely interesting).




Devery is a great product, with proven hype, perfect market conditions, as well as audit-able MVP’s and code. The team simply refused to give pre-sale buyers a rate beyond that 5% bonus, which makes me extra bullish on this investment. The 10 million hard cap, as well as Bok Khoo’s backing and relatively low market cap compared to competitors makes Devery a win in my book. Look to invest in these tokens, either in the sales to come or on exchanges.

Investment Grade: 85%

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