Affinity Mining – ICOindex Due Diligence

 


Disclaimer

This is not an investment recommendation! ICOindex has done a verification that covers several key aspects that our team personally considers to be very important to determine whether the ICO project is legit or a possible fraud. These aspects do not reflect the investment potential or risk. Investing into initial coin offering (ICO) or any other cryptocurrency presented on this website can result in partial or complete loss of your money. Do not invest into things you do not understand and do not invest more than you are willing to lose. ICOindex cannot be held responsible for any issues relating to projects listed on ICOindex.com website.

Project Description

Affinity Mining Ecosystem is an opportunity to purchase a profit share of an industrial scale, renewable crypto-mining company. 70% of all funds raised are immediately used on the most profitable ASIC miners to create positive cash flows for the business to ensure payouts to the token holders after the first quarter the miners are active. Additional profits will be reinvested into the business to further fund expansion, additional product launches and R&D. The project shall be profitable from Milestone 1. This will ensure maximum profitability for the miners and in turn compounding into additional units. All our units are powered by 100% renewable energy in a state of the art facility. This entire process will be submitted to the blockchain in a transparent and safe manner allowing any member of the public to verify the mining returns. Each token will entitle its holder to their pro-rata share of 30% of the company’s profits every quarter for as long as the token is held. 70% is further reinvested to compound into additional mining equipment, product launches and R&D.

The company consists of 4 additional income streams to mining. The most notable on Milestone 1 is the Everywhere Mining Solution. Everywhere Mining is a GUI miner that is downloaded and installed allowing the software control over the GPU in the system when not being used.
Using proprietary tech it will be ensured to mine the most profitable cryptocurrency and direct the entire hashrate of the Everywhere Mining platform to mine that particular cryptocurrency. This will ensure that GPU mining is as profitable as ever. The payouts will be done every quarter in ETH to token holders.

As the Milestones progress additional income streams may become active resulting in greater profitability due to product launches and economies of scale.

ICOindex Due Diligence

The Whitepaper is clearly outlining the problem and its solution as well as the technology enabling the venture. The information in the whitepaper is describing this in detail and highly transparent. A roadmap and detailed business model description can be found here.

The identity and the experience of the team members can be verified through their social media accounts and cross-references. While the Twitter account of Affinity Mining has at the time of writing only around 70 followers, the Facebook page features over 7.000 likes and the social media presence itself is free of fake like or bought followers.

The Escrow service used by Affinity Mining can be verified by a document obtained exclusively by ICOindex, proving the 3rd party authenticity of the escrow service provider Geneva Trust.
The current project status is a concept as a working prototype or MVP of the technology has yet to be seen. However, infrastructure that is already in use can be viewed here.

Conclusion

Given the high level of transparency and experience of the founding team and advisors, it can be said that Affinity Mining is a legit project with a live product and given all the reasons above it can be ruled out that the mentioned ICO above is in any kind a fraudulent scheme or a scam. The overall rating of the due diligence evaluation by ICOindex is therefore “verified”.

Due diligence was done by Patrick Alexander Fuchs, Cryptocurrency Investment Analyst at ICOindex