5.9
Score

Product
6.5
Market
5.6
Use of Blockchain
3.6
Whitepaper
6.4
Roadmap
7.6
Business Modell
5.9
Team
6.8
Token Sale
4.6

Final Verdict

One Pager
Whitepaper
Website
Telegram

Symbol: SVD
Hardcap: $67M
Max Token Supply: 10 Mrd.

The Savedroid AG is a company based in Frankfurt-on-Main and wants to create an AI based Ecosystem made up of crypto savers and, with entry barriers as low as possible, which smoothes the way to investments in futures and ICOs for them. Since it’s start in October 2016 Savedroid (SVD) has focused on a playful and simple way of saving and now is having a try at reducing the barrier of entry into the cryptomarket, which is pretty high for the normal user.

Problem

  • Saving is difficult for many people.
  • The trading of cryptocurrencies (buying/selling) is still to complicated and elaborate.

Lösung

  •  Savedroid facilitates an access to cryptocurrencies for it’s customers as well as the simple exchange between fiat and cryptos.
  • Savedroid is developing an AI to help users find good deals (i.e. a favorable mobile plan) and automatically put some money aside in the case of a purchase. In this way Savedroid wants to help people putting money aside in a smart way.

Status Quo

  • 200k Downloads
  • 10 Million € in Transactions
  • 25k+ Telegram
  • 3000+ Twitter
  • 8100+ Facebook
  • 3 Million € Funding

Unfortunately the teams has not provided us with statements on further KPIs like DAU/MAU (Daily Active User/Monthly Active User) after our inquiry. Edited: Savedroid explained in this case, that the key figures DAU / MAU have little relevance for the business model and therefore are not actively tracked. The basic promise that the user no longer has to worry about saving does not require active use of the app.

Token

SVD is an ERC20 token which is supposed to be used for all future payment of fees on the Savedroid platform. But these fees are calculated in fiat, so SVD is only used as an exchange medium and virtually has no real use. An integration and usage of already established cryptocurrencies would definitely have been possible and would certainly not have hurt the basic business model. Through any payment of fees with SVD a certain number of these tokens is destroyed. This very burning mechanism is supposed to run short the token supply and therefore increase the value of the still existing tokens.

Savedroid Token

Token-Sale

  • The pre-sale was finished with a sum of 3,84M € on January 12th 2018
  • Pre-Sale Bonus: 30%
  • Public Sale Bonus: 0%
  • 1 € = 100 SVD
  • The public sale will begin on February 9th 2018 and will go on until March 9th 2018
  • All unsold tokens will be destroyed and therefore reduce the maximum number of tokens
  • According to statements from the team, the issuing of tokens will begin “shortly” after the end of the ICO
  • All team- and advisor-tokens are blocked. 1/20 of the tokens are issued every quarter over a total period of 5 years through linear vesting.

The differing statements concerning tokens sold in the pre-sale is bewildering, as well.  In the whitepaper on page 39 it states a number of 5M whereas according to statements by the CTO on bitcointalk.com 500M have been sold. Changes in the token sale structure regarding this should be more visible for everyone.

Assessment on exchangelisting after reaching the hardcap:

Pre-Sale: 500.000.000 Token
Pre-Sale Bonus: 30%
Public-Sale: 5.500.000.000 Token
Max. Tokensupply: 10 Mrd
Circulating Supply: 60%
Assessment: => (500000000/100)/1.3+5500000000/100 = €55Millionen bzw. ca. $67Millionen
Fully diluted:
 $112M

The sum Savedroid is calling for here is not reasonable and much too high with $ 67M. What does a company like Savedroid need so much money for? Fully diluted it would be $ 112M. Regarding this we like to refer to the viewpoint of the CEO of Binance. The question arises how high the potential dependent on the future market capitalization really is and to what extent the team is motivated to keep working on the idea after raising this enormous sum.

Token Structure

  • Pre-Sale
  • Public Sale
  • Bounty
  • Advisors & Legal
  • Equity Investors & Team
  • Community, Business Development & Expansion

Allocation

  • Marketing
  • Technology
  • Banking & Crypto
  • Legal & Admin

Roadmap

While reading the roadmap you can’t shake the feeling that Savedroid is actively engaging in buzzword dropping. For example phrases and terms like “smart xy” and “self learning AI” are frequently used. The roadmap shows the development into an independent platform which can be used beyond saving to come to and execute investment decisions. But this step is only planned for the year 2020. With the current speed of development other platform operators with a focus on investment could already have covered large parts of the market. Nevertheless the roadmap shows ambitious and in our opinion good but also very demanding goals. Unfortunately the AI focus, which is mostly geared towards the saving concept, is to date the only point in which Savedroid really wants to differentiate it’s future product from competitors like Coinbase, for example.

Zukunftsmodell von savedroid

savedroid cryptosaving

Roadmap

AI platform : AI algorithm which analyzes the personal finances of users and optimizes spending
200K + App-Downloads, 10M € in transactions
B2B-Partner: Deutsche Börse, Wirecard

Saving in cryptocurrencies like bitcoin, ethereum etc. possible

AI algorithm enables the easy saving and paying of/with cryptocurrencies

Investments in cryptocurrencies, derivatives and ICOs should become possible via the platform

Competition

Savedroid, like other, already established, companies, wants to simplify the buying of cryptocurrencies. The AI usage helps a little with saving but in the end we see the main interest in the easy possibility of buying cryptocurrencies. Here Savedroid has to take strong competitors into account, like CoinbaseCoinflash and Mybitcoinsaver, which all ease the purchase of cryptocurrencies. With the current structure of charges Savedroid has the by far highest costs. Below we compare Savedroid in regard to base costs, transaction charges and the benefits compared to already established companies. The mentioned numbers of savedroid should be considered as sample calculation / assumptions. Numbers carved in stone do not exist yet:

  • Savedroid: €2/month, 7.5% transaction charge – AI helps with saving, already existing customer base
  • Coinbase: no base costs, 3.99% transaction charge – Huge and trustworthy brand
  • Coinflash: $1/month, 3.99% (via Coinbase), rounds up payments and stores the difference as cryptos
  • Mybitcoinsaver: no base costs, 4.5% transaction charge – Proprietary possession of coins

In comparison the position of Savedroid is weak. That’s why the AI aspect should be strongly emphasized so that an outstanding unique selling point can be created.

Team & Partnerships

  • Yassin Hankir – Founder & CEO: McKinsey, Master in Economics, Ph.D. in Finance at the Goethe-University Frankfurt/Germany.
  • Marco Trautmann – Founder & COO: McKinsey, consultant.
  • Tobias Zander – Founder & CTO: CTO of Sitewards, e-commerce specialist in Frankfurt-on-Main
  • Michael “Mike” Fehse – Chief Data Officer: CEO of Arago Automation and CTO Accretive Tech, VP at Telco, Pharma & Banking at T-Systems, Fresenius
  • Jan Gabriel Pleser – Chief Marketing Officer: Publicis and Freelancer

15 further team members. (Whitepaper, pg 18).

  • Wirecard Bank holds the deposits of Savedroid and provides the Savedroid credit card
  • Check24:
  • Drillisch: No mentions of Savedroid on the Drillisch website
  • Freenet Group: ?
  • Friendsurance: ?

Cooperations of Check24 & Drillisch probably serve as information providers for deals offered to the customer.

Whitepaper

The whitepaper offers little in terms of technical depth. A lot of buzzwords are used but it lacks a technical explanation of the implementation as to how the AI optimizes buying decisions and therefore the saving experience. It describes the histroy of Savedroid and their mission to encourage saving through AI and behavioural rewards (for example by saving $5 whenever you visit the gym). The basic idea is described and explained well but it lacks an exact list about what the funding is supposed to be used for. A more in-depth explanation is missing there.

Conclusion

There aren’t many details on the financial/technical alignment and implementation Savedroid. It can be assumed that cryptocurrencies are simply bought in the user’s name from exchanges and kept in integrated wallets. The company reveals weaknesses in the whitepaper and the integration of the SVD token. The SVD token is not integrated into the business model in a useful way, besides the ICO crowdsale. Savedroid requires every user to use SVD as currency for their services but using the tokens in this manner does not afford Savedroid any increase in efficiency.

Savedroid is an already established company with existing users and partnerships. In the past the team was already able to collect money from institutional investors in the form of equity.

But the market Savedroid is entering is already highly competitive. In the future, this will rather increase than decrease. In the long run it will therefore be difficult to gain a foothold and establish themselves.

Unfortunately the innovative power of the product in regards to the Blockchain world is only to be seen as minor because in essence this is just an automated system for transactions which puts aside money according to certain rules and finds bargains. The real Blockchain use is only discernible to a limited extent.

Savedroid destroys 15% of SVD with every transaction. Besides this mechanism to reduce the tokens there is no integrated feature to increase the price of SVD. The incentive to keep the token for the long term is therefore very low with the current model. The token structure does not seem harmonious and it’s capacity would have been feasible with another crypto asset. The assessment of $67M Savedroid is calling for after reaching the hardcap we also estimate as much too high for a project like this. A token is not urgently necessary for a project such as this. Like with several ICOs lately CryptoGo remains with the questions: „Why is Savedroid conducting an ICO at all?“.

Should you have further questions, find mistakes within the review or just want to discuss the newest developments in the cryptoworld with the CryptoGo-Team, visit us in the CryptoGo  Telegram-Channel  or subscribe to our newsletter.

CryptoGo has the aspiration to transparently and independently evaluate new ICOs. In doing so we create the articles to the best of our knowledge and belief. But in no way do we want to issue investment advice. Every investor should extensively investigate the presented ICOs  and analyze and asses them to their own standards.

Twitter

And we are back at it again with another product video!

This time our very talented and one of the minds behind the app, Patrick shows you how you can add a credit card on the app, and the whole process around it!

Enjoy!

https://t.co/qay4cAAfRD

“Modern technology needs modern choices” by Diyan Chanev https://t.co/H4MU53ja4D #blockchain #Tesla #modern #technology #news #ArtificialIntelligence #savedroid #CryptocurrenciesForEveryone #bitcoin #crypto #cryptocurrencynews #innovation #application $SVD

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