Pool of Stake logo

Pool of Stake

ICO details

Token namePool of Stake Token
TickerPSK
Token total supply70,000,000
Accepted currenciesBTC, ETH, USD, EUR, CHF
StatusAwaiting ICO
Funding Goal€ 2,000,000
Funding Cap€ 8,000,000
ICO startsJul 20, 2018
ICO endsAug 19, 2018
Token namePool of Stake Token
KYC/AMLNot Required

About

Pool of Stake solves the problem for small proof-of-stake investors by allowing a participation in pools for proof-of-stake. The user contributes accep... Read more

Visit Website Read the whitepaper

Our Review of Pool of Stake

Rating
44

Pool of Stake aim to create a fully decentralised pool for Proof of Stake coins. PoS pools are valid business opportunities, however, seeking funding via an ICO is atypical for a project of this nature. There is also no compelling argument for the use of a native token as PSK is only used for reduced fees, which in this case are far higher than many of Pool of Stake’s competitors. In addition, the project could be executed via smart contract. The team have already raised €750,000 from seed funding, which would be sufficient to create a website and compete with similar projects.

  • Concept

    Concept Rating
    11 /30

    Pool of Stake (PSK) is a fully decentralised, self-regulated and completely trustless pool for Proof of Stake coins. The business model is well established and makes a lot of sense - much like joining a lottery pool, PoS coin holders staking together results in rewards being received more regularly, providing smaller but more consistent returns for holders. Though, arguably, there is little benefit over the long-term. It also mitigates the need for individuals to own specific hardware or use up electricity to stake their coins. However, what is unusual about this project is they are performing an ICO to set up such a system, when numerous other websites already exist and use smart contracts to perform the same trustless services. There’s an element of additional decentralisation in PSK’s proposal that may, in part, justify the project’s hefty fundraising ask, however, ICO-less competitor Simple POS Pool claim to be the world's first automated managed pool - suggesting they have achieved full decentralisation, without a native token. Curiously, Pool of Stake do not mention plans to integrating Masternodes onto their platform. PoS coins can usually be staked with no minimum, thus providing very few barriers to entry for holders, whereas Masternode rewards are much harder to come by as they require large investments and increased investor risk. Offering masternode pools, with their higher returns and higher barriers to entry, seems the far more lucrative angle to aim for.
    Pool of Stake ran a seed funding round during which early adopters invested €750,000. The team has already produced an MVP on the Qtum Testnet, and have scheduled their first platform release for Q3 of 2018 - this is behind their existing competitors who will be reaping the benefits of first mover advantage. DPoS staking is scheduled for Q4, which does have higher barriers to entry due to the limited number of selected nodes - this is encouraging though with so long to wait, PSK could well fall behind. In addition, an area of concern is Pool of Stake’s quoted fees of 5-15% of investors total rewards. Many existing competitors only charge 3% fees on PoS staking, suggesting PSK aren’t even achieving cost efficiencies with their fully decentralised plans.

  • Team

    Team Rating
    16 /25

    Nine team members are listed alongside two advisors and an ad company. The three co-founders, and C-Level executives, have many years of experience working in supply chain, IT and blockchain. However, the ICO is clearly not a focus for all involved as some of the project’s founders are employed full-time elsewhere. The remaining team members largely specialise in marketing, though others cover governance, full stack engineering and programming. The two advisors specialise in fintech and blockchain ICO consultancy, however, the latter is a name for hire. Overall, the team is adequate but certainly not remarkable. The group has a common link to the Noku.io project and have strong ties to the Italian blockchain world. Given the relatively simple nature of the project, the team should be able to build the platform. Marketing post-ICO will be important so it is sensible to have four employees in this field. No partnerships are noted.

  • Competition

    Competition Rating
    8 /20

    PoS is already popular, many make a good profit with PoS coins, but it is starting to become more centralised as people attempt to “game” the system by creating projects such as this. As it’s smart contract-based, there is no risk of losing coins, however, the actual returns are lower than an individual would receive if they just staked on their own.
    There are numerous other staking pools already in existence that offer the exact same services as PSK, without going through the process of running an ICO. Stake United claim to be the world's first automated managed pool, PSK differentiates themselves by attempting to offer a fully decentralised platform. StakingLab and Simple POS Pool are also in the mix, however, these platforms only charge 3% of rewards to PoS pools, and 5% to masternode pools - PSK will charge 5-15%, and do not have plans to provide masternode staking. If PSK do have a competitive advantage that requires ICO funding, their argument has not clearly been put forward.

  • Economics

    Economics Rating
    5 /15

    Very few details are provided on the token sale at present. Reportedly, the PSK token will be ERC-20 compliant and 70 million tokens will be pre-minted, with 76% distributed during the ICO. The hard cap is €8 million and the soft cap is €2 million. The cap is low for an ICO but given the simplicity of the project, it’s high for the work that needs to be done. PSK is a utility token which will entitle users to discounts on withdrawal fees. A second coin is used to allocate partial ownership within their pools, therefore eliminating the need for the PSK token to be purchased to participate in a pool, further reducing its utility. The PSK team will use a portion of their collected rewards to buy back and burn PSK tokens thereby reducing their circulating supply.

  • Presence

    Presence Rating
    4 /10

    The whitepaper and website look professional and well presented. However, the whitepaper has a number of glaring omissions, such as token allocation and team members, suggesting a lack of due care and attention. Telegram has 1,800 members, Facebook has 250 likes and 800 followers, all of which are rather underwhelming. The project is listed on the usual ICO ratings sites and can be found via Google quite easily. Overall, Pool of Stake’s presence is quite average.

Team

  • Team member placeholder image
    Andrea Balzini
    CTO, Fo-founder
  • Team member placeholder image
    Delia Hallberg
    Governance
  • Team member placeholder image
    Marco Querini
    Full Stack Engineer
  • Team member placeholder image
    Davide Luigi Borella
    CEO, Fo-founder
  • Team member placeholder image
    Bartosz Navarra
    Marketing & Community
  • Team member placeholder image
    Marco Guarducci
    Senior Programmer
  • Team member placeholder image
    Dario Calderoni
    Head of Operations, Co-founder
  • Team member placeholder image
    Kuba Mackowski
    Marketing Manager
  • Team member placeholder image
    Rafael Suarez
    Community Manager
  • Ian Scarffe photo
    Ian Scarffe
    Advisor

Real Time Updates for Pool of Stake

Roadmap

  1. Feb 2, 2017
    1st whitepaper & business plan
  2. Mar 2018
    Company creation
  3. Mar 22, 2018
    Media announcement
  4. May 2, 2018
    ICO start
  5. Jun 3, 2018
    ICO end
  6. Q3 2018
    1st platform release
  7. Q4 2018
    2nd platform release (dPOS)

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