Red Pulse (RPX) – ICO

Red Pulse (RPX) – ICO

Author: Nikolay Dimitrov
Date: 2nd of October 2017

Do not make investment decisions based on this article – read the disclaimer before you proceed and leave the website if you disagree with it.

It is the 2nd of October 2017 today. This review takes into consideration investing in Red Pulse (RPX) – ICO at a price of 1000 RPX per NEO Token.

We do not endorse the ICO’s we are writing reports on – we just have a big pile of ICO’s that people have mentioned to us could be worth taking a look at and we are going through them one by one. All shared personal statements are a personal point of view.

Project/token summary

Red Pulse (RPX) is cryptocurrency which will be used for different activities on their social platform like paying for articles, incentivizing such and receiving payment in RPX for the same. The payments will depend on the quality of the articles, clicks, volume, and a lot of other criteria.

How do I rate an investment in this project at the current price? (TL: DR)

I had my reservations about this project for quite some time and I could not understand the hype around it. Then I posted a voting competition regarding interesting ICO’s and Red Pulse, to my amazement, got the most votes. Now I see the potential in the project, but why are they restricting it to primarily Asain-Market news, ok they will support English translations and that’s it. There are plans for expanding in the future, but there are no plans for a globally encompassing platform. How about having a section Asia, then one Europe, Americas( they will have one for the US-stock market) etc. I am not hating on them, they seem really professional, but also they are having a very conservative approach. The whitelist for the ICO is already closed. The ICO is set to be on Sunday, October 8th at 0900 EDT / 1300 GMT / 2100 HKT. They had a pre-sale with a 40% bonus( 1 NEO – 1400 RPX), but it was only limited to 100 people, chosen by a lottery, where they could only participate with 10,000$, no more and no less. Now they have a hard cap of 15,000,000$ and the tokens issued for this amount will be the tokens in supply. This is not known now as the price of NEO could be very different from the price it is now. Their slack channel is closed for new participants as well. Like I said very conservatively, but maybe they just do not want any problems they cannot handle as this is going to be the first ICO on NEO and there might be issues. Here are some links to very informative articles you can also read:

https://steemit.com/redpulse/@roosterred/red-pulse-ico-rpx-analysis-both-complicated-and-interesting

https://crushcrypto.com/analysis-of-red-pulse/

The team is really serious about their platform and you will be able to see their manner of conducting the ICO represent itself in their product, which will be released in Q1 2018 and the Beta will be released in Q2 in the same year. They are outlining a lot of guidelines, the new article writers will have to adhere to.

Authors will be paid with RPX when they get upvoted or if they provide research on a prompt started by a party looking for information. But what you get is determined by a lot of factors – credibility score, upvotes, who is upvoting you( financial institutions will have up to a 10 times greater upvote power that a regular user when both possessing the same amount of tokens), how much RPX do they hold, how long is the article and a lot of other guidelines.

It is also really important where you keep your tokens as. There will be a 10% inflation rate per year. Half will be used for paid authors and the other half will be distributed to token holders, but to only those who have their tokens on the platform.

If you are an article writer definitely read the whitepaper, in fact, everyone should read it to see the amount of planning they’ve gone through and how to structure a sound plan when you are entering new lands (I know that I was talking about them being braver but, there are 2 sides of the coin and I am not the one risking my reputation with a new product).

Branding/Positioning

There is a need for a secure place which you can call a fair information bastion where you get what you give. Unfortunately for the near future, Red Pulse will be focusing primarily on the Asian market, but as stated in the white paper things can change. Let us hope they develop a good product and can make it globally applicable.

Token utility

  • Firstly there will be a lot of micropayments for article writers and for articles. If these were to be made in fiat, the fees would have been enormous. There will also be the opportunity to store your funds and withdraw them when they accumulate to save on some fees.
  • Receiving annual bonuses for holding the token.
  • Giving a greater up voting power.
  • Initiating research prompts.

Upcoming bullish events

For now the events on the roadmap.

Red flags

I really cannot find anything alarming other than the postponement of the ICO. Well, this is quite understandable given the situation in China at the pre-set time of the launch.

Website: https://coin.red-pulse.com/

General

  • What is their progress according to the roadmap – ICO stage
  • What new does this cryptocurrency bring to the worldwhat problem does it solve, what does it stand for – honestly it is not so different from steemit, but it will be on another market, run on a new blockchain and there are some interesting features like the annual bonuses and research prompts.
  • How does the cryptocurrency name sound (does it sound legit and like a good brand name) Definitely an instant attention grabber as our hearts and blood are kind of important. When I get deeper in the meaning of the name it is like they want to be the driving informational mechanism of Asia.
  • How does the logo look It is a heartbeat, alarming and in the same time giving comfort.
  • Is it a PoW, PoS or PoW/PoS coin, what is the mining difficulty or APR, does it suffer from inflation – you get bonuses for holding, but it is not a POS coin.
  • Who is behind the cryptocurrency – are they shady figures, or have they placed their names and pictures on the website; what is their track record and reputation; do a quick google/github research on them – the founders have a tremendous amount of experience in the financial services field. They have links to their linked ins in the website, also pictures.
  • What is the limit on supply of coins in circulation – this is yet to be determined.
  • How many developers participate in the coding – could not find this info, but there are a lot of people in their office working on the project.
  • What the project survival relies on – they being known and people writing and other reading the articles.
  • Will this project survive a cryptocurrency bubble burst and does/will it have enough of a following that needs it every day – the potential is there but and they do not really need the cryptocurrency in order to be on the financial market. It just makes it easier for them. So they will not have a problem continuing to be a working product even after a meltdown of the crypto world.
  • Competition – Steemit and InvestFeed.

Social

 

  • Is there a Bitcointalk forum Announcement thread – yes –https://bitcointalk.org/index.php?topic=2169745.80 but it is not on the website.
  • How many pages is it –11
  • History of the coin according to the forum and general public impression of the coin throughout– read the first 10, last 5 and several random pages –people are generally asking questions about the product, nobody complaining, only about the weir pre-ico terms. Nothing negative, not too much positive.
  • Do they have a blog, anything interesting on it? – no, but they do have a FAQhttps://coin.red-pulse.com/#faq
  • Is there a slack channel – yes, but it is closed to new subscribers.
  • Is there a Twitter profile for the cryptocurrency and does it post regular updates, how many followers – yeshttps://twitter.com/red_pulse_china 7000+ followers. They are very active here.
  • Is there a Facebook page for the cryptocurrency and does it post regular updates, how many likes – https://www.facebook.com/redpulsechina/, here they have only 400 likes and are not active at all.

Popularity and perception

 

  • What does a quick google search tell us about the project –mainly information about the website and links to their different online exposure. Did not see anything alarming.
  • Are there youtube videos about the coin  yes, they are manly informative and quite positive.
  • What is the general sentiment in the comment section below the videos (constructive, fud/hype, calling out scam etc) – like in the bitcointalk, it seems like people are really not reading the information on the web,  just like bits and peaces they catch while surfing are forming their uneducated perception. Only the most hyped coins have a community where people have a good idea about the project.
  • Is the coin associated with illegal/criminal activity or the dark web – no.

 

Thank you for your time spent reading this article. The internet is huge and I might have missed some information or read something that is not true. Feel free to criticize and point out any mistakes.  In fact, please do criticize, this is the best growing mechanism. All good luck to all crypto-enthusiasts. Let us make some money.

 

 


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