Using the blockchain and own cryptocurrency, we give holders of our tokens a unique opportunity to gain access to this high technology. Each holder of CCA tokens will be able to convert them into shares of local composite cylinders production complexes which will be located all over the world near the main markets.
In addition, it will be possible to exchange our tokens for the composite cylinders themselves or to present them for buy-back in accordance with the terms of the smart contract.
Thus, our offer is open and irrevocable for all ICO participants which is impossible within the framework of standard capital instruments in the corporate finance market. So without any further ado, let’s delve into a detailed review of Cylinders’ ICO.
The major competitive advantage of our project is radical 2- or 3-fold reduction of composite cylinders cost compared to those of competitors. Besides, composite cylinders are 3 to 4 times lighter than metal ones and are safe to use as they have a nonshattering destruction pattern.
Every month, 30% of the revenue will be directed through a smart contract to buy-back of distributed ICO tokens. While doing so, tokens will be eliminated. As a result, such a policy will lead to a reduction of the number of coins in circulation, thus ensuring a permanent rise in their value.
To date, there are over 100 million cylinders for CNG and 900 million cylinders for LPG that are in circulation around the world. Annually, up to 10 million CNG and 70 million LPG cylinders are produced, of which about 0.1 million (1%) and 1.5 million (2%) are CNG and LPG type 4 composite cylinders, respectively.
CCA expects to produce about 10 thousand CNG and 50 thousand LPG cylinders per year, which is 10% and 3% of the market for CNG and LPG composite cylinders. Thus, CCA has a huge potential for both the replacement of cylinders of types 1-3 and for raising the market share of type 4 cylinders.
Distribution of tokens
Allocation of Funds
They did not disclose specifically how they will allocate the funds besides
5 team members:
Timur Akhiharov, CEO
Nikolay Leontiev, Director of Operations
Aleksandr Leontiev, Production Manager
Viktor Goryachev, Design Manager
Aynur Motigullin, Engineer
This feels like they are doing an ICO to raise money without giving away equity in their business. This is the kind of unregistered security that the SEC is trying to protect people from. The token serves no inherent purpose besides as a vehicle to transfer ETH to CCA to USD/EUR.
They have images of BBC, Bloomberg, CNBC, The Huffington Post and Forbes but do not have links to the site which is odd. They have a very small following on telegram with 89 members, which shows lack of public interest in the project.
They also do not have a marketing specialist on their team which suggests they are not aware of the benefits of an active community around the project. Overall, this is a poorly executed ICO for a project which has gathered no interest from investors, and I would recommend staying away from this project.
That sums up my Cylinders ICO review. Do you think it’s worth investing in? Let me know what you think in the comments below!