KOMODO DIGITAL ASSET REPORT:KMD Review and Investment Grade

Crypto Briefing Research Department

August 9, 2019

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Project Profile ........................................................................................ 3

Fundamental Factors ............................................................................. 4

Grade ................................................................................................... 5

Introduction ........................................................................................... 6

Market Opportunity ................................................................................ 7

Underlying Technology ........................................................................ 11

Ecosystem Development ..................................................................... 15

Token Economics ................................................................................ 18

Core Team .......................................................................................... 21

Roadmap Progress .............................................................................. 23

Token Performance ............................................................................. 24

Conclusion .......................................................................................... 31

How to purchase KMD ........................................................................ 32

Disclamer ............................................................................................ 34

Contents

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KOMODO KMD

Key Metrics ICO Information

Current Price

Buy Up To Price

Market Capitalization

Top 10 Addresses Combined

ATH Price

30-Day Average Price

24H Volume

30-Day Average 24H Volume

Sharpe Ratio

$0.87

N/A

$99,544,275

37%

$15.41 (Dec 21, 2017)

$1.15

$2,812,150

$4,559,863

-0.38

Oct - Nov, 2016

$0.0896

$1,983,781

N/A

115,387,989 KMD

200,000,000 KMD

ICO Dates

ICO Price

Public Allocation

Private Allocation

Circulating Supply

Total Supply

komodoplatform.com

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Fundamental Factors

Market Opportunity

Core Team

Ecosystem Development

Token Performance

Underlying Technology

Roadmap Progress

Token Economics

7.0

7.1

6.0

6.0

8.0

7.3

5.5

Combined Score: 6.7

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C+

GradeProject exhibits moderate indications of progress but still faces above

average level of risk; token price is highly volatile, prospects for adoption

are uncertain due to factors such as poor marketing, lack of developers or

dApp projects, irrelevancy of tech, or critical governance issues.

Methodology

For a full description of our methodology, please click on:https://simetri.cryptobriefing.com/methodology/

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Despite developing and successfully deploying a number of features and technologies, such as the delayed Proof of Work algorithm, smart chains, and the AtomicDEX, Komodo has not been able to establish a clear brand image in the space. Over the years it has been misconceived as a privacy coin project, due to it originally being a fork of Zcash, and has generally struggled with public awareness.

The team has remained committed to the project and focused on the big picture. The low use case token economy has been designed with bootstrapping in mind and expected evolution over the years. However, given that Komodo is a platform play, its bright future is dependent on it being able to attract and sustain a critical number of partners and users in order to drive network effects.

At the beginning of Q3 of 2019 Komodo relaunched the project

via a full rebrand that included new developer tools, technical documentation, and a website redesign. This is expected to help Komodo transform from an R&D project into a commercially viable platform. If the project is able to communicate its competitive advantages to other protocols and developer teams it may finally start to realize the potential of its technology.

Komodo has made a number of invaluable contributions to the blockchain space, including Atomic Swaps and plug & play blockchains. However, the low emphasis on the native token, and currently poor brand awareness make its future prospects questionable. The team needs the rebrand to significantly change the perception of the project in the near term in order for the long-term future to remain viable.

Introduction

Komodo is one of the oldest and most misunderstood projects focused on the interoperability question in the crypto space. Since 2014, the team has been working towards a future where all blockchains can work together to mutually increase utility through cooperation but have found it tough to deliver the message to its target audience.

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Komodo is a customizable blockchain provider, or simply a platform of platforms. Teams can either set up a new blockchain using the Antara framework or connect their existing project into an interoperable ecosystem.

This places Komodo in the middle of the growing dApp market expected to rise significantly in value over the coming decade. No one can accurately predict what its valuation will be but we can turn to the mobile app market for an idea of the potential scale of the industry. Various researchers predict that mobile app economy will

touch $935B worldwide by the year 2023.

Moreover, it pits Komodo against other interoperability projects such as Cosmos, Polkadot, Ontology and the like. While many subscribe to the many-chains vision of the blockchain future, the need for a large number of interoperability solutions is questionable. So, while Komodo may be competing against (at the moment) smaller blockchain projects, than the layer one leaders, the competition could end up being stiffer.

Market Opportunity

Summary

• Strong competition in the space, from projects with greater brand awareness, capital, and clout

• Although the project has some potential, in general, it is currently lagging behind

• Potentially a multi-billion dollar addressable market, that is likely to increase exponentially over the coming decade

VARIOUS RESEARCHERS PREDICT THAT MOBILE APP ECONOMY WILL TOUCH $935B WORLDWIDE BY THE YEAR 2023

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Some of the rival projects have considerably more brand awareness, capital, and clout. Ontology, for example, is a CoinMarketCap top-25 project with history and powerful connections. It has the ability to attract big-brand players to its Trust Network, such as to create a snowball effect. It also helps that its blockchain has over 50 dApps on the network.

Cosmos and Polkadot have often been compared as interoperability solutions and have generated a tremendous amount of hype. It should be discouraging for Komodo that given how long Polkadot has been in development without deploying a mainnet, it has managed to generate more buzz. Cosmos, on the other hand, has already risen to top-20 status after its launch.

Project name Launch Date Ticker Key features Market cap

Komodo

Cosmos

Polkadot

Ontology

$99.5M

$600.0 M

N/A

$459.5M

Started in 2014Launched in 2016

Started in 2016Launched in 2019

Started in 2017Launch scheduled for Q3 2019

Started in 2017Launched in 2018

KMD

ATOM

DOT

ONT

* Interoperability solution* Delayed Proof of Work consensus* AtomicDEX* Smart Chains

* Interoperability solution* Tendermint PBFT* Cosmos SDK in Golang* Solidity smart contracts on Ethermint

* Interoperability solution* GRANDPA hybrid consensus* Rust-based Substrate with Wasm interpreter* dApps on Parachains

* Ontology Multichain solution* VBFT consensus algorithm* Multi-VM smart contract platform* Ontology Oracle and Python smart contract compiler

Competition in the Blockchain Space

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The Komodo team may choose to shrug off hype and token performance, but without brand awareness, it will not be able to secure the high caliber partnerships it needs to catalyze its ecosystem.

In addition, unlike many blockchain projects, Komodo is facing a more tangible threat from centralized players. Solutions like IBMs HyperLedger and Amazons Blockchain Template services have

been working with enterprise clients for some time now, and have capital and brand recognition that start-up projects simply don’t.

Komodo will be trying to lure prospecting enterprises with lower costs, simplicity, additional functionality and public chain availability. However, this will not be easy. Some of these incumbents have a significant head start in terms of user acquisition, existing customer pipelines, as well as more experience in the enterprise segment.

Competition in the Traditional Space

Project name Competing Product Key features Market cap

IBM

R3

Amazon

$124.1B

N/A

$90.6B

Hyperledger

Corda

Amazon Web Services

* Robust set of frameworks and tools* All-round support* Blockchain Finance* Blockchain Health Care* Blockchain Supply Chain

* Enterprise Blockchain dApps* Support & Training* Blockchain Finance* Blockchain Health Care* Blockchain Supply Chain

* Serverless Application Development* Blockchain Templates* Database Services* Networking & Content Delivery* Security, Identity & Compliance

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Nevertheless, Komodo does have an ace up its sleeve in the form of its AtomicDEX. With DeFi and interoperability solidifying as important industry trends, DEX has once again started edging towards the spotlight. An inbuilt DEX makes cross-chain asset exchange incredibly more efficient thereby raising the overall utility of the ecosystem.

Despite the DEX field already becoming crowded, Komodo can be considered an early mover among interoperability players in this regard. This could potentially become a key differentiating factor for the ecosystem.

Overall, Komodo is looking at a promising, growing market. However, the project is facing a lot of competition to become the platform of platforms. It is unclear how many interoperability solutions the market has room for, so in this space early advantages are important, and right now Komodo is lagging behind. The team hopes the rebrand can change the narrative for the project, but given the history of marketing and awareness misalignment, at the moment, Komodo’s prospects look questionable.

Competing DEX’s

DEX Name Protocol 24hr Volume

Kyber

TronTrade

Newdex

OpenLedgerDEX

IDEX

WavesDEX

StellarDEX

121 BTC

6.5 BTC

25 BTC

1 BTC

100 BTC

25 BTC

3 BTC

Ethereum

Tron

EOS

BitShares

Ethereum

Waves

Stellar

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Komodo’s explicit goal is to drive forward an interoperable multi-chain ecosystem, to do that the project had to pioneer multiple different technologies at the same time. Namely its delayed Proof of Work (dPoW) consensus mechanism, Antara Framework and Atomic Swap technologies.

The foundation of all of these technologies is Komodo’s delayed Proof of Work (dPoW) consensus mechanism which secures all of its integrated blockchains with the full security of Bitcoin. Whereas Komodo’s flagship product the Antara Framework facilitates the creation of plug and play independent blockchains called Smart Chains. Also, Komodo has pioneered Atomic Swap technologies allowing for token trades and message sending between multiple blockchains with no intermediary whatsoever.

The combination of all of these technologies will play a crucial role in the adoption and creation of Komodo’s interoperable multi-chain ecosystem.

The Antara framework is used to build Smart Chains, which are independent, yet interoperable purpose-built blockchains which can be launched in minutes on AWS. The concept of Komodo’s Antara framework is very promising but it will be difficult to gain the necessary level of adoption required for its full functionality to come to fruition.

Smart Chains launched with the Antara framework never depend on the KMD chain, network or platform. Each Antara Smart Chain has its own independent blockchain networks, consensus mechanisms, and cryptocurrencies. Moreover, these Smart Chains are modular in their design, with up to 18 customizable parameters. Included in these modules are oracles, stablecoins, micropayment channels, and an automated Faucet.

Underlying Technology

Summary

• There is healthy GitHub activity with a number of recent releases• There is work to be done on the integration and support of the

current technology

• The project is technologically strong featuring Smart Chainsand dPoW consensus algorithm

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Komodo’s Smart Chains attain their interoperability through inbuilt features such as:

• Cross-chain communication, whereby all Smart Chains cansend and receive information about transactions, blocks, andon-chain data, such as state changes, through an open API.

• Single login functionality, where users need only one private keyor passphrase and one address to send and receive coins andtokens from any Smart Chain in the Komodo ecosystem.

• Seamless swaps, where Smart Chains can exchange coins,value, and data seamlessly with Komodo’s atomic swaptechnology.

These blockchains still run their own layer one consensus mechanism but use dPoW for the second layer of security. dPoW is compatible with both Proof of Work (PoW) and Proof of Stake (PoS) blockchains.

There are 2 ways a third party project can use dPoW

1. A project copies the open-source dPoW code so they can setup ‘notary nodes’ that notarize block hashes to KMD (or anyother) blockchain.

2. A project integrates with Komodo’s security service, whereby agroup of 64 notary nodes that use dPoW technology to secureKMD to BTC and other smart chains to KMD.

THE FOUNDATION OF KOMODO’S TECHNOLOGIES IS PROOF OF WORK (DPOW) CONSENSUS MECHANISM

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Komodo’s security service essentially works as follows, all integrated chains take snapshots of their own ledger at a predetermined time interval. Then this snapshot is written into the KMD blockchain. Following this, every 10 minutes the Komodo blockchain takes a snapshot of its own ledger, this snapshot is written into a block on the Bitcoin blockchain. Finally, confirmation of the most recent Bitcoin block containing the snapshot is sent back to the Komodo blockchain and broadcast to all involved parties. Since notarizations occur every 10 minutes, a 51% attack is both unfeasible and unprofitable.

Komodo’s Notary Node network facilitates these cross-chain notarizations. Notary Nodes are dedicated servers that perform

notarizations for the Komodo blockchain as well as third party blockchains who use Komodo’s security service.

To further drive interoperability between different blockchains the Komodo team have invested a great deal of time and energy on their atomic swap technologies.

Using atomic swap technology, the Komodo platform’s AtomicDEX allows users to exchange tokens directly without intermediaries. Each trade is executed directly on the blockchain, making the process completely trustless and eliminating the need for a centralized custodian. Users always have control of private keys and no sensitive information ever leaves the users wallets.

USING ATOMIC SWAP TECHNOLOGY, ALLOWS TO EXCHANGE TOKENS DIRECTLY WITHOUT INTERMEDIARIES

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Being a technology-first project, Komodo was able to focus on development, even during the tough bear market. With healthy GitHub activity leading up to the recent releases, the team looks to have been busy working to deliver on the target milestones.

Now it looks like the key technology tasks will be improvements, integration, and support. It should also be noted that with the rebrand

underway, the team has been updating the documentation in an effort to be more clear and user-friendly for the community. Komodo has a solid technological base and now needs to communicate its strength to the industry in order to achieve success. Whether or not it is able to gain and sustain real traction will determine its long-term future.

GitHub Activity | Source: Komodo’s GitHub

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For all of the effort that Komodo has given to the technological development of the platform, it appears to have neglected the development of the project’s ecosystem. With a centralized node structure, weak growth incentives and a lack of partnerships Komodo has a lot of room for improvement in one of the key areas responsible for the success or failure of the project.

Security in the system is supported by 64 Notary Nodes, and 4 of them are maintained by the development team.

To become a notary node, a candidate must publish a proposal on the notary node GitHub page, as well as demonstrate sufficient hardware/bandwidth. Users elect candidates by sending VOTE tokens, which are provided on a 1:1 ratio to any wallet holding KMD, to an address assigned to a given candidate.

Each notary node earns about 50 KMD per day, adding up to 1500 KMD per month, which amounts to almost $1500 per month. This

does not appear to be much making this a poor incentive to run a node.

The token distribution is also quite centralized, top-10 accounts hold around 37% of all of the tokens in circulation, suggesting that the project could be influenced by several top-holders.

On top of that, Komodo has not been able to attract any big-name projects to its platform. While the team has stated confidently, that with its rebrand its only a matter of time before top projects decide to join in, so far no project in the CoinMarketCap top-200 has chosen to do so. While Komodo has seen 50+ smart chains and 30 projects, it is hardly enough to catalyze its ecosystem.

If top names join Komodo’s competitors and shun its platform, no matter how good the technology may be, the project will, unfortunately, become irrelevant.

Ecosystem Development

Summary

• There is a centralized node structure and also centralizedtoken distribution

• There is a solid social following• There is only one major partnership, with Amazon Web Services

• There are currently no big name projects utilizing Komodo’splatform

• The project needs a coherent-go-to market strategy

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Komodo Rich List | Source: dexstats.info

Rank Balance Address

1

3

7

5

9

2

4

8

6

10

RLVzC4tr9cNKvuw2z4m8KuMfZURwCehx55

RLvRzAFMgyGXuUwgHLfT8c5PyJqVZFhuUi

RRwRh1hejPYwcywaHnnJXi2CdZv6yCY8Wb

RMWCXALQ8JAQCk6pbV3cd6QEEYx5rG2FiY

RHmnjh4jB5qkxjdoeYgV1Vd1rsXHj19W8t

RUCE2y4kcY2drXSsnHahee1DDEruD3wj7o

RNtM4pewCiJa2DFLr1EQSqMqtX7GahEzrN

RKJ2Ew6gRpaLx9C93qkYXDVXiB5Efg8QuJ

RCyANUW2H5985zk8p6NHJfPyNBXnTVzGDh

RDM156cn6xFQN3mMoV1MfXQuU2KSoGXnCb

10942984.5

5833640.7

2405299.9

3091669.7

1562371.1

8245973.6

4126695.7

2000000.1

2734412.8

1511060.5

SuperNET

MCSHARK

The team has also struggled to generate much enterprise buzz. So far it has only been able to secure one partnership with Amazon Web Services (AWS). The team has stated that a number of Fortune 500 companies are working to launch on Komodo, however, due

to NDA constraints, those companies could not be named. If those developments end up materializing they could serve as major catalysts for the ecosystem, both in terms of on-chain activity and brand awareness.

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It should also be noted that Komodo has been able to convert its long-standing presence in the industry into a solid social following. It remains to be seen how much the retail community can help an enterprise-oriented project, but it is encouraging to see a lively social media presence.

Komodo struggles from typical issues for technology-focused

startups. While its technology may be praise-worthy, it has struggled to generate interest for it. The team is putting a lot of hope on the ongoing rebrand, however, there needs to be a coherent go-to-market strategy put in place for those hopes to come to fruition. Komodo has been rather secretive, citing a classic corporate approach to information dissemination, so it remains to be seen if the rebrand will have the desired effect.

Community Comparison

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Token Economics

Komodo (KMD) is the native currency of the Komodo blockchain. KMD has several applications within the ecosystem but is primarily used as a base coin on the Komodo’s AtomicDEX and or payment for some of Komodo’s core technologies. That said, the primary value driver for KMD up to this point has been speculation.

Utility Drivers for KMD

– Komodo Platform Services

• KMD provides security, scaling, and interoperability services tothe entire Smart Chain ecosystem.

• Projects that opt-in to these services always make paymentsin KMD, as KMD is required to notarize into the Komodoblockchain. The cost is a total of 365 KMD per year per SmartChain.

• On top of that, the Komodo security service is a paid servicewhere the chains also pay an annual subscription fee. However,the security service subscription fee hasn’t been made public.

– Gateway to Trustless Trading

• Any traders who use KMD for their trades on AtomicDEX willreceive a 10% on trading fees, this is expected to drive demandand utility of the token.

• Additionally, every Smart Chain built using Komodo’stechnology can have its token added to AtomicDEX, thereforethe more Smart Chains in existence the more trading pairs forKMD.

Given that Komodo does not mandate the use of KMD on the platform and accepts other token such BTC and native tokens issued on smart chains, the value of the KMD token is questionable. While using KMD does provide some financial benefits the platform would need to see the significant volume to ensure that is a significant consideration for users ad a demand driver for the token.

Summary

• Komodo does not mandate the use of KMD on its platform,undermining its token economy

• Speculation is the primary use-case for the token

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Komodo has a total fixed supply of 200 million coins. 100 million of these were pre-mined and distributed during the $2M ICO in 2016.

Out of this 100 million coins, 90 million were distributed to investors, whilst 10 million were kept aside for future development and marketing of the Komodo platform. The remaining 100 million are distributed via Mining and Active User Rewards.

Miners are mining approximately 1.58M KMD per year, where 25% is mined by normal miners and 75% is mined by notaries.

Also, KMD holders with a balance of more than 10 KMD, can claim Active User Reward by sending a transaction whose output

is greater than its input. The amount that can be claimed keeps increasing as the age of the utxo increases and caps at the age of 1 month. The total value of the rewards that can be claimed by a person that is claiming at least once per month compounded is approximately ~5.1%.

This mechanism incentivizes to hold the token and could potentially generate additional ~5.7M tokens per year, however, as reported by the projects many exchanges and cold storage wallets don’t regularly claim their rewards.

It is expected that the distribution of all 200 million coins will be reached in approximately 14 years.

Project Name Ticker Current Supply Annual Inflation Total Supply

Komodo

Polkadot

Cosmos

Ontology

200M

not fixed

237.9M

1B

115M ~5%

10M TBA

190.6M 7% - 20%

533M no inflation

KMD

DOT

ATOM

ONT

Supply Comparison

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While Komodo does not have a high inflation rate, the lack of strong demand for the token in the near future means that any additional tokens will create downward pressure on the underlying asset’s price.

The lax token rules have supposedly been put in place as a way to lower the barrier of entry for other projects. The team has discussed expanding the assortment of use cases for the token as well as increasing fees for various services, as the ecosystem matures. However, given that the project sees its timeline in terms

of years, it is unlikely that any such initiatives would be realized in the near future.

Thus, at the moment, KMD appears to be more of an artificial add-on rather than a utility coin. Given the questionable incentive models implemented in the ecosystem, the weak token economics further underscores the risks associated with the long-term future of the ecosystem. At some point, Komodo will need to address it suspect token economy if it wants to continue to grow in a healthy manner.

THE LACK OF DEMAND FOR THE TOKEN IN THE NEAR FUTURE MEANS THAT ANY ADDITIONAL TOKENS WILL CREATE DOWNWARD PRESSURE ON THE UNDERLYING ASSET’S PRICE

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Core Team

Komodo’s team is comprised of 37 staff located all across the world and with a variety of expertise. The C-Suite members have relatively good expertise for their respective positions but lack blockchain and start-up experience. The group also appears to lack a senior marketing person. The team has mitigated this by hiring Ideas By Nature, a blockchain agency that has worked on marketing and branding strategies for projects like Coindesk and Dash. The agency is helping with the rebrand of the Komodo platform, but it would help to see the team bring on some marketing and growth hacking specialists.

Overall this is a small team given the project’s ambitions. While the group could stand to be a bit more well rounded, it has consistently delivered results when it comes to its technology. It remains to be seen if the team can do the same in regards to adoption.

Summary

• The team is comprised of 37 people located across the world• C-Suite members lack blockchain and start-up experience

• Marketing and rebranding is done by an outside agency, IdeasBy Nature

PROJECT AMBITIONS

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Ben Fairbank

General Manager - Presently Ben is the General Manager of Komodo and CEO at RedFOX Labs. RedFOX Labs as stated on their LinkedIn - “is a blockchain-based tech company that identifies and builds proven unicorn business models for the emerging markets of Southeast Asia.” Regarding education, Ben attended Temple College, Adelaide in Commerce and Management (dates are unknown).

Steve Lee

Chief Strategy Officer - Prior to his position at Komodo Steve had the title of Executive Content and Messaging Strategist at Hewlett Packard Enterprise (August 2015 to February 2018). He also attended the University of California, Davis in Psychology and Communications (2004 to 2007).

Kadan Stadelmann

Chief Technology Officer - A this time Kadan is the Chief Technology Officer at Komodo as well as RedFOX Labs. Previously he was an IT Project Leader and Software Developer for the Australian Government (March 2014 to September 2016). Moreover, Kadan’s greatest educational feat to date is his Technical Informatics and Scientific Computing accreditation from Technische Universitat Wien (2011 to 2013).

James Lee

Core Developer, Founder - is the cornerstone of the Komodo project. Prior to his founding of Komodo, he was a core developer in NXT, a previous top 10 cryptocurrency. He departed NXT after internal disagreements with other team members.

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Roadmap Progress

The Komodo team kept up with all of their milestones and timelines from the original roadmap in 2018, but have not yet issued a new one for 2019 and beyond. With most of the technological milestones reached, the team must now focus on adoption-related targets. A lack of a concrete published plan makes it difficult for the community to gauge Komodos progress and to hold the team accountable.

Evidently, Komodo has achieved a lot of technological feats throughout its history and specifically in Q3 of 2019. Now, however, the project must successfully launch its AtomicDEX and community portal to both drive the utility of KMD and bolster community enthusiasm. Failure to do so will keep Komodo locked in place as an R&D project and put it at risk of irrelevance.

Summary

• Most of the technological milestones have been reached • The main focus remains on adoption-related targets

Roadmap | Source: komodoplatform.com

Pre 2019Complete

Q1 2019Complete

Q3 2019Complete

Q3 2020In Progress

UnknownUpcoming

World’s First Fully Independent Blockchain Generator

Developed dPoW

Launched BarterDEX, the World’s First DEX powered by Atomic Swaps

Launched world’s First dICO System

Released Agama Multi-Coin Wallet

Fully Customizable Suite of Blockchain Solutions

Sapling upgrade

Full launch of AtomicDEX

Launch of a community portal

First release of educational content & tutorials

2.0 Full Rebrand

Antra framework launch

Beta launch of AtomicDEX

Komodos third annual Notary Node elections

Komodo and Coinbene Announce Strategic Technology Partnership

Trustless Oracles For Market Feeds

Custom block explorer launch

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As reported by CoinMarketCap.com Komodo’s (KMD) market cap is currently $99,544,275 which makes it #68 in market rank. KMD’s current price is $0.87 per token which is 94.35% lower than its all-time high of $15.41. Despite KMD’s considerable fall from its all-time high in December of 2017, original ICO investors have seen an astonishing 651% return in a little over 2 years.

However, as it was mentioned before, the project did not see significant ecosystem expansion during the last year and its token has been following the direction of the overall market.

Token Performance

Summary

• The token has been following the direction of the overall market • Trading volume numbers could be inflated

DESPITE KMD’S FALL FROM ITS ALL-TIME HIGH, ORIGINAL ICO INVESTORS HAVE SEEN AN ASTONISHING 651% RETURN IN A LITTLE OVER 2 YEARS

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Price Comparison with Blockchain Competitors | Source: coinmarketcap.com

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KMD experienced a considerable and sharp rise in value relative to BTC at the end of 2017, however, this trend reversed in early 2018 and KMD’s value has continued to fall relative to BTC.

Price Comparison KMD/BTC | Source: coinmarketcap.com

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The market cap of Komodo and the rest of the altcoins are largely correlated. The only exception from this trend is where KMD had a

rapid market cap fall in early 2017, meanwhile the rest of the altcoin market cap remained unaffected.

Market Cap Comparison With Altcoins | Source: coinmarketcap.com

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Volume Comparison | Source: coinmarketcap.com

The team has struggled to get public awareness, which is signified by the Volume Comparison chart. KMD’s trading volume is significantly

lower in comparison to its rivals, which shows that investors have been less interested in the project during the past year.

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Nearly 70% of KMD’s volume is conducted with BTC pairings. Following this is KMD’s KRW pairing which facilitates over 20% of the trading volume.

CoinBene hosts nearly 50% of KMD’s trading volume. However, this exchange has been suspected of questionable volume statistics, which suggests that KMD’s volume could be exaggerated.

Volume Distribution | Source: cryptocompare.com

KMD - BTC Volume by ExchangeKMD Volume by Currency

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The volatility numbers for the past several months have been similar to the competitors. The project did not have any significant announcements recently and did not generate any volatility spikes.

Komodo’s token performance is in line with its inconsistent adoption

efforts, where the market remains the primary driving force of the KMD price. In order for this to change, the team needs to significantly improve the utility of the KMD token, otherwise, it will continue to slip down the charts.

Volatility Comparison | Source: coinmarketcap.com

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Komodo has made a number of valuable contributions to the blockchain industry. Since 2014, it has successfully developed and deployed Smart Chains, an atomic swap powered decentralized exchange and a multi-coin wallet. These releases have provided a solid infrastructure base for the development of Komodo interoperability vision.

However, despite the research and development feats of the project, Komodo has struggled with gaining widespread adoption. While the team blames this on poor marketing and a general lack of awareness about the project, questionable token economics and a lack of prominent partners suggests there are more fundamental issues.

The team has shown the willingness to address its ecosystem

shortcomings, undertaking a relaunch of the project in Q3. It is commendable to see the project to improve its communication with the market. However, given that Komodo is not a young project relative to its rivals, its questionable whether the current effort will be enough to make a difference. If the relaunch does not have the desired effect for Komodo, the project will face the prospect of becoming irrelevant.

Due to the risks associated with the project at this time, Komodo receives a C+.

The author(s) of this report is/are invested in the following coins: Bitcoin.

Conclusion

DUE TO THE RISKSASSOCIATED WITH THE PROJECT AT THIS TIME, KOMODO RECEIVES A C+

© 2019 SIMETRI and Decentral Media Inc. – simetri.cryptobriefing.com 32

Step. 0 Choose your preferred exchange.

KMD can be purchased from several cryptocurrency exchanges, the full list of exchanges can be seen here .

Step 1. Head over to your preferred exchange.

If you don’t want to purchase KMD with fiat currency, it is a good idea to purchase KMD from Binance . Not only is it one of the biggest liquidity providers for KMD but the exchange is also among the most reputable on the market.

If you prefer to purchase KMD with fiat we recommend Upbit for KRW.

Step 2. Create an account on the exchange of your choice if you don’t already have one.

Step 3. Top-up your exchange balance with some of your BTC or ETH.

On Binance, KMD can be purchased with either Bitcoin and Ether so make sure to first send over some of the tokens to your exchange wallet. (Don’t forget to double check that the address you are sending your coins to is correct!)

*Optional : If you don’t own BTC or ETH, the easiest way to buy themis through Coinbase .

Step 4. Choose your trading pair.

Head over to the exchange and choose the currency (BTC, or ETH) you prefer to purchase KMD with.

How to purchase KMD

© 2019 SIMETRI and Decentral Media Inc. – simetri.cryptobriefing.com 33

Step 5. Purchase KMD with a market or a limit order. If you want to buy just a small amount instantly, it is easiest to use a Market Order. Input the amount of KMD you want to purchase and press Buy.

If you need to purchase a large amount of KMD, it is best to use a Limit Order to get the best possible price.

Input the amount of KMD you would like to purchase, and the price at which the order should be filled at and press Buy. (It might take some time for the whole order to be filled if you are purchasing a large amount).

Step 6. Store your KMD on one of the supported wallets for increased security. To store KMD, you can use a KMD wallet , or you can use Ledger or Trezor for improved security.

© 2019 SIMETRI and Decentral Media Inc. – simetri.cryptobriefing.com 34

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