Lightstreams

Overall, we have an undetermined view about the flipping potential of the ICO and are neutral about its long-term potential. Our thoughts on buying the tokens for flipping and investing for the long term are as follows:

For flipping

Depends. The project has a relatively low hard cap for a blockchain protocol project and has generated high market awareness. However, the team is undecided as to whether they will issue a placeholder ERC-20 token which can be exchanged for mainnet tokens or distribute tokens directly once mainnet is launched (currently scheduled in early Q4 2018).

If the team chooses the first option (issuing a placeholder token), then the turnaround time would be much quicker. We would be positive about the flipping potential in this case.

If they go for the latter option (distributing mainnet tokens directly when the network launches), then there would be a few month lag between the date of contribution and the date of receiving mainnet tokens. In addition, this does not take into account the time it takes for the mainnet PHT tokens to be integrated and listed on exchanges. We have a neutral view for flipping if this is the option that the team chooses.

For long-term holding

Neutral. The idea of the project was conceived and developed more than one year ago during last year’s Consensus Hackathon. However, the team suspended the development and waited until one year later to conduct an ICO to continue the project. This does not speak well to the team’s enthusiasm for the project and for this reason, we are neutral about the chance that the project will be a success.