ICOrating

DIMPAY Basic Review (https://www.dimpay.io)

ICO dates (07.12.2017 — 18.12.2017)

Web: icorating.com

Email: info@icorating.com

Twitter: @IcoRating

Project Details

Name: DIMPAY

Ticker symbol: DIMCOIN

Project type: Platform

Extended company description: DIMPAY is a part of the DIM ecosystem, a global

payment system based on the NEM blockchain

Company: DIMPAY Foundation (in the process of registration)

Website

White paper

ICO details

Public ICO start date: Dec 07 2017

Public ICO end date: Dec 18 [White Paper]

Token sale duration (weeks): 1.6

Token emission: N/A [White Paper]

Tokens available (Pre-Sale + Public ICO): N/A

Investment distribution:

Price of 1 DIMCOIN: $0.04

Accepted payment: BTC, ETH, NEM, XEM

Bounty: Program start date: December 1, 2017 until the end of the ICO.

Token role: functional

Team

Team (number of people) 17

Advisors and partners (number of people) 3

GitHub

Social media

Twitter: Postings: 15, Subscribers: 227

Telegram: Subscribers: 276

Facebook: Subscribers: 18 751

Youtube: Subscribers: 20

Project description

DIMPAY is a part of the DIM Ecosystem, a global payment system based on the

NEM blockchain. [https://www.dimcoin.io/]

The use of blockchain technology makes the platform cheaper, faster, more

transparent and reliable (there are no third-party registers.) The platform is designed

for peer-to-peer transactions between business (B2B), consumers (P2P), also

business and consumers (B2C, C2B).

DIMPAY consists of a DEPOTWALLET, a mobile DEPOTWALLET and a DIM Debit

Card.

DEPOTWALLET allows users to buy, sell, store and manage cryptocurrencies and

crypto assets. A DEPOTWALLET business account will enable sellers to create

invoices, track inventory, make payments and much more. DIMPAY will facilitate

non-cash transactions for consumers and traders.

A DIM Debit Card will allow consumers to engage in e-commerce and to shop in

retail stores.

However, the payment system is intended not only for consumers and sellers; it can

be a financial solution for 2 billion people worldwide who do not have bank accounts.

DIMPAY will provide the following services.

For consumers:

• the ability to make payments and transfers

• viewing and managing assets

• automatic fulfillment of constant payments (rent, insurance, etc.)

• direct debit procedures

• provision of guarantees

For business:

• payment of wages

• creation of invoices

• viewing financial statements (balance sheet, cash flow)

Advisors:

Roelf Barnard (LinkedIn) - Financial advisor. CFO at DIMCOIN, managing director

at Royal Insurance Brokers (Pty) Ltd, RJB Business Success and Solutions Barnard

& Gilfillan (Pty) Ltd for 13 years, owned a firm in providing accounting and auditing

services, has great experience in this branch.

Andre Heydenrych (LinkedIn) - Consultant on compliance issues. Consultant on

compliance at Complilegal (Sole Prop.) Requirements for 11 years, previously

worked in the medical field.

Katarina Moir (N/A) - Financial advisor.

Partners

Strategic partners:

• Sommerprint - international design agency based in Düsseldorf.

• First Media Advance - service for the development of new applications and

software.

• Worldwide Financial Solutions - holding company engaged in financial

services.

• all parts of the DIM Ecosystem: DIM Foundation, WISE Consulting Ltd,

HYBSE, DEPOTWALLET.

Conclusion

DIMPAY is separate from the DIM Foundation. The DIM Foundation is supporting

the project because it shares the DIM Name and is part of the DIM Ecosystem.

Earlier, the DIMPAY Team staged the ICO of the DIMCOIN project, during which the

declared hardcap was exceeded in $10 million. A total amount of $14.2 million was

collected.

Strengths of the project:

• the project’s ecosystem is already functioning successfully.

• the project already has ICO experience.

Weaknesses of the project:

• Information about the team is not disclosed: there are no links to profiles, nor

information on team experience or on the founder; the CEO’s identity is not

provided.

• QR-code reading technology is not yet popular among consumers and it is

developed only in a niche market.

Market and industry

Juniper Research states that the volume for daily cryptocurrency transactions is

more than $2 billion. Since DIMPAY will function in the mobile payment market

(Mobile Proximity Payment) of P2P using QR codes, PWC estimates that total

volume of transactions will exceed $300 billion with an annual growth rate (CAGR) of

85.9% by 2020. The volume of transactions made with QR codes will be $9.3 billion

with CAGR of 17.9%. [https://www.pwc.com/it/it/publications/assets/docs/mobile-

proximity.pdf]; [http://www.astrid-

online.it/static/upload/worl/world_payments_report_wpr_2016.pdf]

According to the listed statistics, we have calculated the volume of QR crypto

transactions, which will be about $0.96 billion with an annual growth rate of 16% by

2020.

The team claims that global mobile traffic grew by 63% to 7.2 billion gigabytes per

month in 2016. It is expected that global mobile traffic will be 49 billion gigabytes by

2021. [White Paper]

Summary: The market analyzed by the project team is not congruent with the

declared business model. At the same time, the team has also failed to provide a

development strategy for market entry.

Competitors

DIMPAY singles out the following competitors in the white paper:

• Mycelium - a system that allows making payments and transfers in

cryptocurrency.

• Bitpay - a payment system that allows payments and transfers.

• Paypal - a system that makes payments and money transfers from a bank

account or card connected to it.

Competitors also include:

DITCOIN (http://ditcoin.io/) - a payment system for transactions between consumers,

business, consumers and business. [White Paper]

Summary: The main differences between DIMPAY and its identified competitors are

the existence of its own cryptocurrency and connection with a trading platform for

securities (HYBSE).

Engineering features of the platform

DIMPAY is part of the DIM ecosystem, which includes WISE Consulting Ltd (a

platform for exchanging fiat currencies for DIM Currencies), HYBSE (online

exchange which offers small and medium-sized enterprises a platform for searching

and access to international capital), and the DEPOTWALLET (wallet).

DIMPAY functions as follows:

• Users and business people install a DEPOTWALLET and create accounts

(users create private accounts, businessmen create business accounts.)

• When the businessman creates an invoice in his account, a QR code will be

automatically generated.

• The user reads the seller's QR code and makes a payment.

• In order for traders to withdraw DIM Currencies received for goods, they will

need to register with WISE Consulting Ltd.

The DIM debit card will be connected to a DEPOTWALLET account in the web

application and mobile versions. Debit card holders will be able to convert DIMCOIN

and other cryptocurrencies to selected DIM currencies such as DIM GBP and DIM

EURO. [White Paper]; [https://www.wiseconsulting.io/home.html];

[https://hybse.com/company/view/type/otc/]; [https://depotwallet.com/#!/]

Technical description

The platform is based on NEM blockchain technology. Payments within the platform

will be implemented by reading QR codes. [White Paper]

Comments: In the event of conflicts between sellers and buyers, there is a possibility

of getting into dispute. In this event a DIMPAY employee will be brought to the

dispute to arbitrate, or the dispute will be sent to the DIMPAY Foundation.

To protect the wallet, in 2018-2019 new security measures will be introduced: a

fingerprint, face recognition, and a two-stage authenticator. [White Paper]

Technical roadmap

In the future, with the development of technology and data capacity it is planned to

implement the following:

• Q2 2018 - testing of beta version of DIMPAY

• Q3 2018 - official launch of DIMPAY

• 2018/2019 - constant updating of mobile DEPOTWALLET

• 2019 - installation of DIM ATMs with DIM currency withdrawal. [White Paper]

Comments: The roadmap presents a step-by-step improvement of the platform, but

the white paper does not disclose the technical component, the implemented

functions or the platform itself.

The team does not have an open repository. The question of whether the repository

will be created remained unanswered.

However, a project representative stated that the project repository is exactly the

same as the NEM repository (because the project is based on NEM’s technology).

Thus the project decided not to create its own public repository for the code.

https://github.com/NemProject

Documentation

We have analyzed the website and documentation for sufficiency and consistency

for making an investment decision.

The documentation contains the white paper, white paper summary, information

memorandum and presentation. All documents are presented in English. In the

submitted documentation, DIMPAY is described in sufficient detail. The main

emphasis is on the concept, forecasts for cryptocurrency development and legal

positioning of the token but the technical component of the platform and its services

is not fully disclosed. [White Paper]

The website also provides information about the project, staging a public ICO,

frequently asked questions, advisors and the team. The website is presented in

English. An additional advantage of the website is a link to the wallet download.

[https://www.dimcoin.io/]

Summary: The documentation allows forming a mostly comprehensive view of the

project. The relationship between DIMCOIN and DIMTOKEN is not described

transparently in the documentation however, and requires additional communication

with the team. Discussion of this issue can be found on Telegram.

A project representative stated that the team is not selling TOKENs at the DIMCOIN

ICO.

ICO

Tokens for sale, %: N/A

Public ICO start date: December 07, 2017

Token type: NEM

Accepted payment: BTC, ETH, & NEM

1 DIMCOIN price: $0,04

Crowdsale duration: 1 week, until December 18, 2017

DIMCOIN is a cryptocurrency and a means of payment in the DIM ecosystem which

enables buying goods and services as well as using DIMPAY’s own services.

Holders of DIM TOKEN can make proposals for the project’s development and vote

on the future direction of DIMPAY.

Owners of +50 DIM TOKEN will receive a 30% share of net commissions received

via DIMPAY in accordance with the share of DIM TOKEN they hold.

Distribution scheme is presented below:

Net Fee Distribution (DIMPAY)

Fee Earnings

[White Paper]

Token limitation: N/A

Benefits to token holders: Functional tokens which enable using the services of the

platform; they can also be sold.

Max goal: 1,500 BTC

Min goal: N/A

Bonus:

The token sale is being implemented in several stages:

Bounty program

Link to the bounty program

Distribution scheme %% according to the program (by direction):

• Twitter

• Facebook

• Media (Video, Article, Creative Campaign)

• Translations

Summary: The project has an extensive bounty program. All the conditions of the

program are detailed at the link above. Remuneration will be paid weekly.

Token and capital distribution

Tokens do not affect the distribution of shares in the company. The incentive system

is set up such way that it is more profitable to buy tokens earlier.

Development plans

[https://www.dimpay.io/docs/dimpay-presentation.pdf]

• Q2 2018 - registration of payment license in Latin America.

• Q4 2018 - renewal of license for payment in Latin America. [White Paper]

Summary: The team has not provided a strategy for scaling or a marketing

campaign. In addition, obtaining a payment license could be delayed considerably.

Team

The team consists of 17 people and 3 advisors. Information about the main team

members based on LinkedIn is given below:

Anastasia Guseva Plewka (LinkedIn) - Assistant manager. Assistant manager at

Wiseconsulting.io, previously - assistant manager at analytical firm specializing in oil

and gas;

Lourens Swanepoel (N/A) - IT engineer

Moshimane Kholane (N/A) - Listing expert

Allen Mutangudura (N/A) - Trader

Kimesha Naidoo (N/A) - Customer manager

The team has 12 people in addition to this.

Comments: Almost none of the team members could be found on LinkedIn.

Conclusion: Unfortunately, not all team members have profiles on LinkedIn. The

available information on professional skills and experience is not enough to form an

unambiguous opinion about the team. Personnel are mostly from South Africa. There

are the following specialists: economist, employees working on social media,

administrator, developers and support specialists. There are no experts present in

the field of blockchain technologies (the technical team does not specify the

experience of creating blockchain projects on Linkedin) in addition to the founder and

CEO. The team did not provide a response to this question.

Marketing

Information about the project is available on Twitter, Facebook and YouTube. There

is a bounty program.

The project is active on social media. Twitter and Facebook regularly update news.

The format of articles about the project shows that they are written mainly to the

project’s order.

Commentary: Interest in the project is growing. The basic marketing campaign is set

on Twitter and Facebook.

Analysis of website traffic based on Similarweb.com data showed the following:

[https://www.similarweb.com/website/dimpay.io]

Comments: 78.65% traffic - direct link 10.55% - referrals, 9.49% - social media

Search traffic: 0.00%

Referral links: 10.55%

An analysis of website traffic based on Alexa.com data showed that the number of

website views is 22,980 per month and the number of visitors is 5,747. The website

is most popular in the USA. [https://a.pr-cy.ru/www.dimpay.io/]

Summary: Based on the available data, it can be concluded that users are still not

sufficiently interested in the project. The team is conducting an advertising campaign

on social media (Facebook, Twitter).

Contacts

The developers may be contacted using the links below:

Website

Twitter

Telegram

Bitcointalk

Youtube

Useful links

1. Website

2. White Paper

3. Presentation Deck

4. Crowdsale terms and conditions

5. About Bounty

6. Similarweb

The information contained in the document is for informational purposes only. The views expressed in this document are solely personal stance of the ICOrating Team, based on data from open access and information that developers provided to the team through Skype, email or other means of communication. Our goal is to increase the transparency and reliability of the young ICO market and to minimize the risk of fraud. We appreciate feedback with constructive comments, suggestions and ideas on how to make the analysis more comprehensive and informative.