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DISCLAIMER
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INFORMATION CONTAINED HEREIN IS NOT AN OFFER OR SOLICITATION TO BUY, HOLD, OR SELL ANY SECURITY OR ANY OTHER ASSET.

TOKEN METRICS IS NOT PROVIDING FINANCIAL ADVICE AND IS NOT TAKING PERSONAL CIRCUMSTANCES INTO CONSIDERATION WHEN PUBLISHING INFORMATIONN ON DIFFERENT ICOS.

BEFORE PARTICIPATING IN ANY ICOS MAKE SURE TO CONSULT WITH YOUR LEGAL AND FINANCIAL ADVISORS.

PROVIDED INFORMATION DOES NOT GARANTEE ANY FINACIAL RETURNS OR LOSSES.

OUR SCORES AND INDEXES ARE MADE FOR THE INFORMATIONAL AND EDUCATIONAL PURPOSES ONLY.

YOU ALONE ASSUME SOLE RESPONSIBILITY FOR ANY DECISIONS YOU MAKE BASED ON THE INFORMATION AND/OR THE USE OF TOKEN METRICS SPREADSHEET

TOKEN METRICS IS NOT A BROKER-DEALER OR FINANCIAL ADVISER AND IS NOT AFFILIATED WITH AN INVESTMENT ADVISORY FIRM. YOU SHOULD NOT CONSTURE ANY INFORMATION PROVIDED IN THE SPREADSHEET AS LEGAL, TAX, INVESTEMENT, FINANCIAL OR OTHER ADVICE.

TOKENMETRICS IS NOT RESPONSIBLE FOR ANY GAINS OR LOSSES THAT RESULT FROM THE OPINIONS EXPRESSED HEREIN. TOKEN METRICS IS NOT RESPONSIBLE FOR THE COMPLETENESS, ACCURACY, OR TIMELINESS OF THE MATERIAL PROVIDED AND ALL MATERIALS ARE SUBJECT TO CHANGE WITHOUT NOTICE
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INDEX FORMULA
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All returns all calculated from the ICO price (discounts for early and large investors are not considered). All the information on funds and projects is taken from the public resources (project web-site, fund web-site, crunchbase, ico specialized resources, etc.) unless it is stated that some information was received privately. Indexes are constantly changing as all the inputs are based on real time market data from cryptofinance and coinmarketcap. We list funds that are indicated on selected ICOs web-sites and therefore we believe are really partnered with those ICOs. We considered only those projects that were listed on exchanges this year in a bear cycle. THIS IS NOT A RATING OF FUNDS AND THEIR PERFORMANCE AS WE DON'T KNOW THEIR DEALS STRUCTURE, THIS IS JUST AN INFORMATION TO CONSIDER WHEN YOU SEE FUNDS LOGOS ON A PROJECTS WEB-SITES WHEN DYOR

Formula for calculating fund index is following: fund average ETH return/average of all funds returns in ETH + fund share of projects with positive return in ETH/average for all funds + fund number of projects in our database/average number of projects for each fund in our database - fund worst project return in ETH/average for all the funds. Each variable in the equation is capped at 3 points, for example, no matter how far particular fund return exceeds the average for all the funds it will receive max 3 points for that particular variable. This was done to prevent funds with one exceptionally high variable getting too high score. Also, each variable has its weight, if a fund has more than 5 listed this year projects in the database the weights for the calculation of that fund index are following: average ETH return - 35%, number of projects - 15%, share of successful projects - 30%, worst project return - 20%. For the fund with less than 5 projects in the data base the weights are: average ETH return - 40%, number of projects - 40%, share of successful projects - 10%, worst project return - 10%. This was done to improve accuracy of an index for funds with narrow sample of projects in our database. Number of projects has the highest weight because it massively affects all other variables: the fewer there are inputs the less representative the results. We really appreciate community effort and welcome all the suggestions on which funds or projects we should add to the database, please, send your inquiries to konstantin@tokenmetrics.io
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FAQ
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Do you plan to use your grading methodology?

Yes, we will use the methodology to grade projects by each of the dimensions in the spreadsheet however all the grading will be done on the backend. You can read about our methodology here - https://medium.com/@tokenmetrics/token-metrics-ico-rating-methodology-v2-0-2f2cc20f5507. We will be issuing complete reviews on particular projects which will better clarify how we perform due diligence and our thoughts on particular projects.
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How different dimensions contribute to the final short-term and long-term scores?

Each dimension has its own weight when considering the final score. For example, token sale terms and hype dimensions have much lesser impact on the long-term final score in comparison with short-term score. You can read about our methodology to get a better feeling of how we assign weights to different dimensions - https://medium.com/@tokenmetrics/token-metrics-ico-rating-methodology-v2-0-2f2cc20f5507.
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Does the investors score perfectly correlates to the Fund index?

Projects with lower TMFI could have higher investors score comparing to projects with higher TMFI. Projects that have on-board more TOP 10 funds by the fund index could have higher score than projects that have more funds in total however less funds from TOP-10. Also, there are funds that have extraordinary track record and huge experience outside of crypto and have just entered crypto space therefore there is not enough historical data to evaluate. In such case we may consider those funds when coming up with final investors score as we believe they provide projects with long-term money, partnerships for accelerated adoption and strategic advice on a broad spectrum of subjects.
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Why some projects have token sale score while some of the core valuation metrics are not available?

If we score a project while not providing all the information in the valuation section it means we know the metrics however we cannot publish them due to the team's restriction to do so.
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What is the grading scale?

From the highest to the lowest: S, A+, A, A-, B+, B, B-, C+, C, C-. D, E.
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What does N/A mean in short-term score?

N/A means that there won’t be short-term score as tokens are planned to be issued more than 6 months away from the analysis date
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Is there any value in the fund index? What goal you try to achieve by publishing it?

You may consider Fund index when doing research of a project. More and more crypto projects list lots of logos under the investors section on their web-sites, while many of funds may look credible most of them invested in a ton of projects that tanked post-ICO. There is huge bunch of funds which we believe are “strategic” flippers who get in (with max bonuses) and out quickly and providing 0 value to the projects they invest (with the only exception – helping projects to get listed on exchanges). Those funds are usually great experts in marketing and hype blowing but are not interested in the long-term perspectives of a project. We track the performance of different projects backed by VC funds to come up with a fund index (refer to the previous section for the formula) that could give a better feeling of what those logos on the ICOs web-site worth.
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Why the upcoming section is filtered by the long-term score?

We strongly believe that time when average whitepaper projects could do 3-5x in a week after ICO passed forever. We think altcoins valuations will keep decreasing, projects will have to prove their utility, that the team is capable to deliver what promised from technical and business standpoints and show what is already done and is there any demand for it. Weak projects won’t provide good ROI no matter how much hype they blow up. We strongly encourage subscribers to focus on the tech rather than the hype and marketing sides and always remember that low valuation doesn’t mean undervaluation. Don’t fall for the next Experty or BeeToken or Insights network (all trading -85% or lower from the ICO price) who were successful in blowing the hype but has no long-term value. More recent examples are Phantasma and DXChain that are both infrastructure projects with relatively low valuation at an ICO stage that dumped hard post-ico. Having lots of VC funds on-board is also not a sign of a good project. Lots of crypto funds hunt for short-term (for the VC space) ROI. Check fund index sheet and working sheet to get a better feeling of different funds previous investments and their post-ico performance.
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Do you provide a financial advice or call to action?

Nothing written here is a financial advice or a call to action. Information presented in all TokenMetrics channels is for educational purposes only. Always do your own research and consult legal and financial advisor before participating in any ICO.
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