Orchid Protocol Rating & Review

updated 14 October 2018

Enabling Decentralized Network Formation and Probabilistic Micro-Payments

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Status: upcoming
Public sale: TBA-TBA
Cap: No info
Goal: No info
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Orchid Protocol Rating

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Our ICO rating evaluates the overall quality and viability of the product, team, and technical implementation behind. It is calculated with a weight-adjusted formula with five factors and a separate industry expert score. Each factor evaluates an aspect of the project and its weight is related to its importance, which was determined by blockchain and finance professionals. Our rating methodology.

Orchid Protocol review

Orchid Protocol is a surveillance-free layer on top of the internet that enables secure and anonymous communication. This protocol is being developed as an open-source project by Orchid Labs.
There will be no public sale, only private sale. According to SEC, this funding round that already raised US$ 36.7 MM is expected to reach the total amount of US$ 125 MM in private sale. Max token supply - 1B OCT, with 200M OCT are being sold on private sale (20%). Token price is between 0.5 and 0.7 US$, depending on a lock up period from 12 to 18 months.

Advantages

  • Good Project with Strong Team and advisors profile. Project includes well proven VC’s in Blockchain world such as: MetaStable Capital (Kadena, Basis), Blockchain Capital (BitFury, Coinbase, Ripple, LedgerX), DFJ Growth (Twitter IPO, Tesla IPO, Anaplan), Fabric Ventures (Raiden Network, Status), Polychain Capital (Basis, Republic Protocol, DFINITY), Andreessen Horowitz (Airbnb, Basecoin, DFINITY), Sequoia Capital (Instagram, Kiwi, Reddit), Pantera Capital (Enigma, Ethereum, Icon).
  • Fast growing market (US$ 18 Billions in 2017, CAGR 2017–2022 = 15%)
  • Market needs the product (China, Russia, Ukraine, Turkey, Iran and etc.) since there are strict restrictions in some countries (firewalls and etc.). According to Freedom on the Net 2017 almost 50% of internet users in the world faces problems of unfree internet.
  • Cheaper than VPN

Disadvantages

  • Not much effort invested on Marketing. Since Orchid doesn’t conduct an ICO, but only private sale, they don’t have a FB or Telegram groups, since they contact with their investors in private or via email.
  • No roadmap details
  • Token distribution and usage of funds is not well presented and informed to investors
  • Blockchain rivals has already launched Beta or a testnet
  • Unclear if the project needs its token at all. In their whitepaper was written, that they could build their platform on ETH and use it for transaction, but if Orchid locked up ETH investor would be interested in growth of ETH rather than development of Orchid.

Conclusion
This project is very interesting and useful but there is a lot of closed information, since they do not commit an ICO but a private sale. However with such a great project, team and VC’s Orchid Protocol has high return potential.

Team
The team seems to be very professional, with experience in Venture Capital in China, investment in Crypto projects, open-source projects and developing one of the biggest Blockchain Platforms, Ethereum.

Investors
The project is supported by such fund as: Sequoia Capital, Andreessen Horowitz, Polychain Capital, Pantera Capital and etc.

Rivals
Current alternatives to internet access are: unprotected access, Tor and VPN. But all of them are not really secure and anonymous, VPN is also expensive. Moreover,
Orchid can take a portion of the huge VPN Market (US$ 18 Billions in 2017). It is a market that has good perspectives of growth (CAGR 2017–2022 = 15%) due to growing concerns about privacy and censorship. Using a decentralized network and relayers, Orchid could provide safer access to the internet than VPNs.
There are several blockchain projects that are creating alike project, however they are much more transparent. Some of them has already launched Beta or Testnet.

Tokenomics
The Token will be used as a mean of payment in Orchid Market. Since users need to pay whenever they use the internet, the token usage is expected to be frequent.

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