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Project Overview: GaxCoin - P2P Ecosystem

27 august 2018, 22:19 by Tim Jackson

Please remember to make your own research before investing in any project.

Project Overview: GaxCoin - P2P Ecosystem

General Idea

The GaxCoin project wants to focus on few things at once. The main aim is to provide the sole ecosystem for the other features and services to be built upon. The GaxClub will be the master marketplace for everyone to exchange their services there, but also simply connect with each other, talk, learn or even play games and bet in casinos.

The GaxClub

The GaxClub network is a peer-to-peer system hosted in Amazon Web Services parallel Datacenters. It provides the connection between GaxCoin main components and offered services. It's worth noting, that the team states that the base of the platform, as well as the first applications have already been developed and there are demo versions available. However, it wasn't possible to find any links to the said apps.

Project Overview: GaxCoin - P2P Ecosystem

Educational Platform

GaxClub's Formation Platform will be focusing on educational and Human Resoures Recruitment projects. It is aimed at teachers or students and enables to hire workers or find the job. The usage of blockchain technology grants the transparency and reliability of the exchanged information.

Project Overview: GaxCoin - P2P Ecosystem

Holiday Platform

Its main aim is to let users offer or find accommodation. They claim that their users will be able to enjoy an average discount of between 30% and 60%. However, there doesn't seem to be any facts or explanations how they are going to achieve this.

Project Overview: GaxCoin - P2P Ecosystem

Marketplace

Crypto Marketplace offered by GaxClub is designed to allow people from all over the world to connect in one big marketplace to buy and sell any type of goods or services. Blockchain is used in that case to provide transparent feedback and ensure that the exchange happened. GaxCoin will be used as the main currency to power the market.

Gambling

If the project didn't offer much already, they want to also create a Bet And Gambling platform, which would allow to bet and play with cryptocurrencies, while the games could be provable-fair thanks to the blockchain transparency.

Plastic Card

To connect the platform with mainstream world, GaxCoin aims to introduce their own plastic card and integrate it with CryptoPay to enable users to pay for various goods and services with the card. Platform's account will be directly connected with the card and it will be possible to check the balance in the user's personal profile, using mobile app.

Token Sale

Project Overview: GaxCoin - P2P Ecosystem

They plan to create 400,000,000 tokens with 240,000,000 being devoted for the sale. The founders of the project will get as much as 40,000,000 GaxCoins, while the developers will have the half of it. They plan to raise 2.5 Million dollars as this amount is set for the soft cap. The ideal goal would be 5 Million dollars.

It is quite unusual that 25% of the budget is devoted to Marketing and PR, while only 10% to develop networks.

The first public presale is scheduled to run from 9th of September to the 8th of October. There will be 50% bonus for the early buyers. The next stages will offer respectively 30%, 20% and 10%. Each running for a month, until the 6th of January. 

The Team

Project Overview: GaxCoin - P2P Ecosystem

The team is rather wide with many members responsible for different parts of the project, from server management to designing the platform, then of course to develop the sole smart contract and to advertise the project in order to gather the needed funds for the development. As a potential disadvantage may act the fact that there seem to be only two developers on board at the current stage, however maybe it will change after a successful token sale. It seems that a strong emphasis is put on platform's marketing with PR and ICO marketing companies being listed as project's advisors. That may be worrisome for potential investors as there it seems the project is more focused on raising funds than delivering the sole technology. There is also a presence of legal company.

ToToWinBet is the official sponsor of the project and they will also be responsible for the betting and casino features of the Gaxcoin ecosystem.

Final Thoughts

There is little to no detailed information about the project or its features, as most of the descriptions are very brief and seem more like ideas than solid well-thought aspects of the project. The whitepapers are designed quite well, however they act more like a marketing leaflet, rather than proper technical documentation. While the members seem to be rather traceable with LinkedIn profiles provided on the site, there is no information about the founders or CEO. One can't check his previous experience, skills or education. The project gives an impression of not being prepared very well and seems to try to offer too many different features, combining gambling with holiday booking and educational platform, while each of this field can be covered with more details by the competition. If GaxCoin manages to be developed and the platform will be delivered to the users it will have to compete with enormous amount of businesses both blockchain-based but also mainstream ones, as they cover so many fields and different markets. Also the sole fact that they want to deliver three or more components with only two official developers doesn't seem like it will be easy to do.

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