ZILLIQA

We note the following general strengths of Zilliqa project:

• Ambitious and perspective idea
• Healthy vesting conditions
• Strong team
• Good competitive position

Key project risks at this stage include:

Competition - The project has strong competitors based on their progress and market position, however, we note that Zilliqa has several competitive advantages in terms of performance and security as compared to its rivals. We also note that competitors do not have actual roadmaps publicly available, so it remains unclear when they are planning to add additional features in the future.

Development risks - The​ project’s roadmap and the actual performance of the team during the first five months of 2018 show that the planned development pipeline is justified and achievable. However, key release dates are still in the future and the risk that unexpected problems with security/performance may occur by then remains.

Roadmap is not comprehensive - We​ note that current project’s roadmap does not have business development milestones and does not cover the period after dApps release in Q4 2018, whereas vesting for the team will continue for 2 more years (2019 and 2020). It is currently unclear what the team targets are in the forthcoming years.