Condominium is a PoS coin projected to tie in with the travel industry. The team behind CDM wants to use their decentralized network as the basis for planning your travels and holidays.
The project didn’t do an ICO, which means they can circumvent a lot of legal issues with KYC and AML. Investors can buy CDM coins, build a masternode and help to build the network. These same CDM coins will also be used to book traveling packages.
The Condominium network is currently one of the biggest masternode network on the planet. With 3982 nodes it’s the number five in the world, behind Dash and some other projects. Their network uses sliding collateral, which means that the amount of coins needed to keep a masternode running increases as the blockcount increases.
The team has been listing potential partners for weeks, including Expedia and other major travel agencies. It’s now early October and no working product has been shown yet. In Q4 2018 the team – that’s still anonymous – is planning to launch a web wallet, mobile wallet, reveal the team, and add an exchange. The team allocated 16 BTC for listing on exchanges, and so far it’s listed on Cryptopia, Graviex, CryptoBridge and Stex. So I expect a bigger exchange soon. In Q1 2019 they will update the roadmap and launch a working travel website.
So far Condomimium has been nothing but empty promises. There’s no product (yet), they’ve been paying some YouTubers to make videos about them without showing any product. Condominium are also mentioning upcoming partnerships with TravelTek (travel management software), CoinPayments and PayBear (payment systems) and the CPN Network (for crypto based debit cards). These promises sound nice and fit the product very well, but should be taken with a grain of salt until the team actually starts delivering.
Facts & Numbers
Masternodes (MN) & Proof of Stake (PoS) – 90% goes to MN and 10% to PoS.
Travel platform – Condominium is building a travel platform. Once it’s integrated with TravelTek that platform will be 70% complete (according to CDM on their Discord)
73.27% locked – Almost three quarters of the total coin supply is locked in the 3984 masternodes that are currently online keeping the network alive.
- Launched June 2018
- 60 second block time
- 90.000 CDM pre-mined
- Rewards every 65 hours
Reward & collateral table
Block number = reward / collateral
30.500 = 2 / 30.000 CDM
35.000 = 2000 / 30.000 CDM
50.000 = 3000 / 40.000 CDM
75.000 = 4000 / 50.000 CDM
150.000 = 5000 / 100.000 CDM
300.000 = 6000 / 250.000 CDM
500.000 = 500 / 300.000 CDM
1.000.000 = 250 / 400.000 CDM
2.000.000 = 100 / 500.000 CDM
5.000.000 = 50 / 750.000 CDM
10.000.000 = 1 / 1.000.000 CDM
Strong points
- The network is running and there’s a lot of demand for CDM. Even though that demand is – right now – mostly based on the ROI value.
- Potential. Let’s just say that they have the right ideas.
Weak points
- Team is anonymous. We have absolutely no idea who they are and what their background is.
- Quality of their communication. On their Discord they talk about meetings and they setup giveaways. Mostly this is done in quite poor English. While their Twitter feed is filled with memes and Shutterstock photos.
- The lack of product is worrisome. Without an actual product CDM will fall flat before the summer of 2019. They need to have something working before March.
- Their product is not unique, there are multiple projects in the crypto space that try to tackle the travel business: LockTrip, Winding Tree, and TravelByBit are just a few that an easy Google search shows.
Conclusion
Invest in Condominium with extreme caution. Currently they have nothing to show for and the only thing that’s keeping the project alive is the interesting ROI on the masternodes. However, this project could also turn out to give a high reward. Q4 2018 will be crucial for Condominium, after which this review can be reviewed and the score can be altered.
★★☆☆☆ (2/5)
