Update: Davorcoin have screwed everyone over and turned out to be one big scam
Below is My original Review
Today’s review looks at the latest ICO for a lending platform in the cryptocurrency space and this one is called DavorCoin. I have been getting alot of questions on it so I went out to do some research and throughout this DavorCoin Review I will give you all the info I got along with my own personal opinion and then you can decide if DavorCoin is a scam or the next big thing in the cryptocurrency lending space.
Official Site: Davor.io
CEO: Julian something – Interview with him further down
Whitepaper: Yes on the website
Results From My DavorCoin Review
Basically Davor Coin looks like another cryptocurrency lending platform with their unique selling point been that they have an arbitrage platfrom which I can’t find anything else about and their coin is also a hybrid coin that allows POW and POS. I will touch on that point further down and talk about how it looks like a fork of Peercoin rather than an ERC20 token like alot of other lending platforms lately. If it really is a fork of Peercoin then POW and POS is possible.
It has appeared out of nowhere in the last week or 2 so we don’t really have all that much information on them. Their road map suggest they started work on the idea back in December 2016 with their blockchain and arbitrage platform already been officially launched in October 2017. Support has been quick to reply to my early questions so the last ones I asked was about this and when I get answers I will add them here. They said they were open to an interview with one of the founders so I’m also waiting to get a reply about a date and time for that as that would be very interesting.
What Products Does DavorCoin Offer
The biggest offering is the Lending program where you can earn a monthly interest rare of up to 48% by lending your coins back to the company. Their are diffrent options for this which are shown in the chart below
The also have an option I haven’t seen below called an optional capital lock boost which gives you a bigger daily interest bonus if you lock your loan in for 30 -120 days longer.
The next option is Staking your coins for profit. This is based on the proof of stake part of the coin and basically you lock up a certain amount of your coins in a wallet that you wont touch and for that you get more new coins. For the first year you get 10%, second year you get 8% and the third year you get 5%.
People who follow me might have heard me talk about this with NEO in the past where you can earn GAS by holding your NEO coins in a NEO wallet.
For people interested in referring new members to the ICO or the lending platform when it launches then you can also earn affiliate commissions which look reasonable and achievable for the company to pay out. We have seen crazy comp plans in the past of companies paying out 20% and 30% commissions which just isn’t going to work long term so I’m happy to see smaller percentages on the DavorCoin affiliate program.
Who is the DavorCoin Founders
The trend with all of these ICOs at the minute is that we can never verify who the owners actually are and noone comes out and puts their face on the products. Davor Coin is kind of like that in that we don’t really know who the owners are but I was able to find an interview on YouTube between Antonio Francesco and one of the owners going by the name of Julian. I also emailed support to ask some questions and got quick replies as well which was a good sign. Below is the DavorCoin CEO Julian’s interview which gives a bit more info on the business and their plans for the future.
The Youtuber that done the video has shutdown his channel since my review and so the video is gone.
Some interesting information in this video and good to see a representative from the company stepping forward and answering some questions.
Is The DavorCoin Real?
DavorCoin claims to be a PoW/PoS Hybrid Blockchain using the Scrypt POW Algorithm. To my surprise I was able to find a GitHub account for Davorcoin with some files in it. I didn’t try and download and install them it was only set up on the 31st October and there is no official release yet but it was very good to a GitHub repository. For anyone not familiar with GitHub it is a hosting service that is very popular with software devopers for sharing their code and allowing collaboration.
DavorCoin GitHub -> https://github.com/davorcc/davorcoin
From looking at the files and setup it looks like DavorCoin is a fork of Peercoin which is a peer-to-peer cryptocurrency utilizing both proof-of-stake and proof-of-work systems which lines up with the claims that DAV uses a hybrid approach. This is getting interesting..
Will DavorCoin be on an Exchange
They tell us on the site that they are planning to be on Yobit.net, Coinexchange.io and Mercatox.com in December 2017 but until we see it with our own eyes all we can do is wait. If they really do hit exchanges then and you got coins in the ICO then you will be very happy.
Is DavorCoin a Scam?
99% of these lending programs that we see everywhere now are scams. Is Davor Coin just another one of these scams I don’t honestly know. Will it become the next Bitconnect of the cryptocurrency lending world, it has potential and signs that it could but only time will tell. The fact that they actually give us proper information about the coin and I found the GitHub repository is all good signs.
DavorCoin ICO Schedule
They are starting on November 6th and they are selling 6m coins in the ICO. This 6m will be split into 1.2m every 3 days an the price of the coin will go up every time new coins are released.
Conclusion From DavorCoin Review
I seen this first about a week ago and passed it off as another lending platform ad added it to a long list of them that I need to review but after hearing more on it and doing my research it has peaked my interest. The fact that I seen an interview with the founder and also that he has been replying to me in emails has given me some hope for this. I’m going to try and get some in the ICO as I have seen enough to see that this is far better than alot of the other lending platforms at the minute. Does that guarantee it will be a huge success, no but in my honest opinion it has alot better chance that alot of the crap we are seeing out there.
Final Thought: For the reasons above I’m going to try and get some when goes live in the ICO