Findora Project Review

About

Intro

In another edition of our project reviews, we decided to have a look at Findora.

So what is the deal with Findora? In this review, we will dig deep into this project and give you all the answers. We took an in-depth look by examining the project, its team, tokenomics, and community.

If you wish to skip to the summary to see the matrix score and rating, click here.

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*Please note this review is scored out of 80 and not 100. Findora is not currently trading so we are unable to score the project for the Technical Analysis section. We will update this review in the future once FRA is trading.

Overview

Findora is building a global decentralized financial network for the creation and use of confidential assets and smart contracts. The Findora blockchain achieves privacy-preserving transparency, operates with the best in class security features, and uses ZK-Rollup technology. Its flexible technology can also be used to replace enterprises’ current infrastructure or be deployed in the cloud as sub-networks (side-ledgers) – all interoperable with the public Findora blockchain.

Findora enables assets of any nature on its network – fiats, cryptocurrencies, equity, debt and derivatives. Its mission is to address the challenges that exist when supporting a wide spectrum of assets and diverse financial use cases, while providing confidentiality and retaining the transparency.

Findora is deployed and operated by a decentralised network of operators similar to the Bitcoin or Ethereum network while it supports side-ledgers run by a variety of interoperable networks. For instance, the side-ledgers can be used by a traditional bank to replace the infrastructure they currently run on or deployed in the cloud.

It is a platform for issuing assets of any nature, including cryptocurrency. Findora’s mission is to address the challenges necessary to support this broad class of assets and diverse financial use cases. One of the primary challenges is providing confidentiality while retaining the transparency and public accessibility of other blockchain-based systems.

Achieving this privacy-preserving transparency is Findora’s major focus and product differentiation.

Findora is currently running its Testnet and provides developers and teams with the tools, documentation, and support to help you build applications on their protocol. The Mainnet is due for launch in Q1 of 2021, with some of the applications that can be built on the Findora protocol shown below.

Findora Enterprise offers institutions/companies and customised private-ledgers with built-in confidentiality. Seamless interoperability with other side-ledgers and the public Findora network is enabled using advanced cryptographic techniques.

About Summary
✅ POSITIVE ⛔ WEAKNESS 📝 IMPROVEMENT
Findora has huge scope for adoption Currently in Testnet N/A
Mainnet due for launch in Q1 2021 N/A N/A
Growing team N/A N/A
Developing partnerships N/A N/A

Tokenomics

Token info

FRA is the native token of the Findora platform and is required for access to its core features and functionalities, including staking, governance, payment for transactions, privacy-enhancing features, and access to advanced financial application building tools and other services.

The FRA token sale will begin on December 28, 2020 at 12:00 PM ET (UTC-5), and will run through until January 11th, 2021 at 10:00 PM ET (UTC-5). To get involved users can visit the Findora Token sale website here. * The FRA token sale is not open to US investors.

FRA’s Genesis Total Supply is set at 21 billion FRAs. There will be up to 835.8 million FRA tokens (3.98% of the Genesis Total Supply) in circulation at Genesis.

SYMBOL FRA
GENESIS BLOCK N/A
CIRCULATING SUPPLY 835,800,000 FRA
TOTAL TOKEN SUPPLY 21,000,000,000 FRA
% MAX SUPPLY MINTED 3.98%

 

Token distribution

Token Summary
✅ POSITIVE ⛔ WEAKNESS 📝 IMPROVEMENT
Low token supply at launch High total supply at 21 billion FRA N/A
Token sale active N/A N/A
Long vesting period for token stakeholders N/A N/A

Team

Experience
  • Team information is clearly listed on the website and there is a LinkedIn profile for the project. Temujin Labs Inc is the service company to Findora Foundation.
  • One of the areas that really stood out to us during the review was the number of new team members Findora are looking for. They are currently recruiting for over 40 new members of staff, covering software development, marketing, business, research, and product development.

Advisors and Partnerships

  • There are some impressive backers of the Findora project which include:

Team Summary
✅ POSITIVE ⛔ WEAKNESS 📝 IMPROVEMENT
Public team and company N/A Add company info to website
Consistent development N/A N/A
Registered company N/A N/A
Strong partnerships N/A N/A

Code

Audit

The Findora team advise us that the Github will be made public at the launch of the Mainnet in Q1 2021, as such there are currently no public code audits.

Community

Engagement

The majority of the Findora community involvement and engagement takes place on Telegram. There is a Discord channel but it is not currently utilised.

The website is multilingual and allows Findora to increase its global community of followers, developers and investors.

Community Summary
✅ POSITIVE ⛔ WEAKNESS 📝 IMPROVEMENT
Large follower base N/A N/A
Active engagement with community N/A N/A
Youtube channel N/A N/A
Multilingual website N/A N/A
Regular communication N/A N/A

Technical analysis

Chart Analysis

At the time of review, Findora (FRA) is not currently trading so we are unable to analyse the price action. We will revisit this in the future once FRA presale is complete.

Summary

Conclusion

In summary, the Findora project scored an outstanding 60/80 based on our scoring matrix, and we rate the project at an A rating.

ABOUT USE CASE
✅✅✅
COMPETITION
✅✅✅
ADOPTION
✅✅✅
FEATURES
✅✅✅
ROADMAP
✅✅✅
TOKENOMICS DISTRIBUTION
✅✅✅
EXPLORER
✅✅✅
EMISSIONS
✅✅✅
UTILITY
✅✅✅
ENTRY
✅✅✅
TEAM PUBLIC
✅✅✅
EXPERIENCE
✅✅✅
DEVELOPMENT
✅✅✅
PARTNERSHIPS
✅✅✅
FINANCES
✅✅✅
COMMUNITY COMMUNICATION
✅✅✅
FOLLOWERS
✅✅✅
GOVERNANCE
✅✅✅
ENGAGEMENT
✅✅✅
WEBSITE
✅✅✅

 

Breakdown

Disclaimer
  • This is a sponsored review on behalf of the Findora project.
  • This review is intended for educational purposes only and SHOULD NOT be considered by you as financial advice. 
  • Before investing in any project, we recommend you do your research + consult a registered financial adviser.
  • All information listed is accurate at the time of publishing in January 2021.
Methodology
  • We used a combined rating score out of 80 for this review, covering all the listed metrics for project reviews.
  • Each section is rated out of 20 and comprises of 5 metrics we analyse
  • Each metric is rated out of 4, including a potential bonus point in every metric. 
  • Our rating and grading framework is available here.