AmaZix Assessments – choosing the right partners for us

At AmaZix, we’ve helped thousands of projects succeed in the blockchain space throughout our 6 years in the ecosystem. We’ve assisted projects nurturing countless Telegram rooms, Discord servers, and even chat boxes on project websites. We’re delighted to have had the chance to work with renowned, successful projects. We’re also very proud of our current clients too. This is all due to our AmaZix Assessments!

Being proud of one’s client and/or partner list isn’t easy in this day and age, especially within crypto and web3. So how do we make sure we only serve the absolute best? By doing proper due diligence and analysis on the projects that ask us for services!

It’s safe to say that at this point, our team has assessed many thousands of projects accurately. These assessments rely on both our staff’s expertise, as well as some tools developed in house to assist with the process. With this article, we intend to provide an overview of our due diligence and onboarding process, focusing specifically on what has improved and changed last time we touched upon the subject on our old blog.

The Process

In this day and age, we split our process into two different phases, which summarises everything we need to check to decide on whether to take a given project as a client

The initial contact

On a first phase, we set up a call with the prospective client to get to know their team, as well as what they do, what they’re looking for and if we can do something for this project. If everything checks out, and our interests align, we request all documentation available for the project so that we can begin assessing it

The assessment

The second phase is where we actually take a deep dive into the project and ponder about it’s development status, achievements, it’s roadmap and team.

The core of our assessment tools is a sheet where we rate several different parameters, which we’ll get to during this article. These parameters have different weights, depending on their importance, and each of them will affect the final score more or less, depending on these weights. We then have AI tools, such as ChatGPT, to parse through information as well.

In our assessment sheet, we go step by step on several different parameters:

Business & Vision

Like we’ve been doing since very early on, the project’s concept is the first thing that’s challenged. This is where we figure out if the project is built off of a solid foundation composed of things such as a good vision and long term planning, and proper tokenomics

  • Here we look into how relevant the project’s goals are for the niche they’re in, as well as if they have a good idea of what will keep them afloat
  • Another thing we take into consideration is how vital is this niche they’re on and if they distinguish themselves from the competition, if any
  • Target audience is also important, and thus we conduct a research on how big the project’s market can be.
  • Finally, we look into if their technology is patented or if there’s possible conflicts of interest on what they’re developing.

We move on to evaluating the Whitepaper

  • Firstly we check if their goals and token utility are clearly described there
  • We move on to checking if the USP is clearly defined, and if there’s a roadmap, how it’s laid out, and if it has realistic timeframes
  • We look into if the Whitepaper was professionally put together

A deeper dive into the token economics follows

  • What’s the token used for, and what’s its type?
  • What’s the token distribution like, and are the vesting periods fair?
  • Will the token always have some kind of utility in the life of the project?
  • Is the sale well planned, and are the caps reachable/realistic?

A look into the core team then follows

  • We start by going through the expertise of the Team both within crypto and the niche they’re operating on
  • We try to understand if they’re team size is sufficient, or if there aren’t enough people that can take over the task or if there are too many
  • To finalise, we look intro trustworthiness which, among other things, signifies that we do an extensive background check and verify if there are any open scam accusations against team members.
  • Consistency is key, so we look into if the team’s comms are consistent with those of the project itself

Token growth expectations are what we look into to finalise

  • We try to understand if people would be interested in acquiring the token given the utility it provides
  • We check if there are plans to make it liquid and accessible to people, whether through CeX’s or DeX’s

The product itself is also important and therefore

  • We check if the features the project has solve the problems they propose to solve and if the project is just getting started or if it’s already far into development
  • We look into if the proposed feature set is feasible and if it’ll be ready within suggested timeframes
  • It’s also important to understand how early is the project in the market and if it has any sort of backing

Advisors are also an important thing we look in to

  • It’s important to understand if they are important for the project, if they align with the team and/or fill any gaps that may exist in the core team
  • We also try to understand if they have any history of PR issues
  • Also important to see if what sort of experience they have and industry connections they could harvest

Presence is another thing we look into

  • Important to understand if the project can communicate through different media, and if these channels are actively monitored
  • We check if there’s any community traction already
  • Finally, we do a check on whether all social media and documentation conveys the same messaging and ethos for the project

After all the scoring on our assessment sheet is done, a final score is produced, giving the project a provisional grade. This is a good indicator on if the project passes and we are able to provide services to it or not.

This grading process is done by at least two different people and each of the people’s scores is accounted for in equal measure.

Our assessment team then runs the materials produced and the knowledge obtained through AI for a final scan and sanity check.

With all this in our hands, the final result is now given by Team’s decision!

Conclusion

Through the years, we’ve come to the conclusion that assessing projects properly is extremely important. Making a good decision on who to do business with is of the utmost importance in all areas, but especially crypto, given it is a fairly recent environment to do business in, where ill intentioned people take advantage of the novelty factor to bring up new scamming techniques. Protecting our image is important, but it is also of the utmost importance to protect the crypto ecosystem as a whole, along with the communities we manage, and we feel that we do just that through our assessments, forcing projects to improve or to exit the ecosystem if they’re ill intentioned.

Curious about what AmaZix can do for you?

We’re always on the lookout for another exciting project to work on. If you’re working in the crypto space and planning a token sale, or just want help managing your communities, we’d love to hear from you.

READY TO TALK?

Please write us a message and we will get in touch with you as soon as possible to discuss your project.

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