Kleos ICO now rated by CryptoRated

Kleos is a question and answer platform that allows people to ask a question and get multiple answers from experts.

Kleos is a social platform focused on allowing users to engage with each other in a question-and-answer type format. Users will be compensated with KLS tokens for generating content. Token holders will be able to influence the topics covered by the community and reward writers.

Product
The Kleos GitHub page is nonexistent and milestones which have already been accomplished (if any) are not discussed in the whitepaper, so it is reasonable to assume the Kleos has not made much progress on the product and is still at the conceptualization stage of development. The basic idea of the platform is to reward users for engagement, an idea that is feasible with blockchain technology, however, the idea is hardly innovative.

Use of Blockchain
KLS is an ERC20 compliant token. Much more thought needs to be put towards the value proposition of the token. The incentive to own KLS tokens is quite weak. As it is described in the whitepaper, there is no great need for a custom token and it is mostly a means of generating funding for the platform.

Whitepaper
Overall the whitepaper is quite short and severely lacks a technical discussion of the platform. A business plan with market research exists, but is not discussed in thorough detail. Competing solutions are assessed primarily on a qualitative basis, without numerical evaluations.

Roadmap
The roadmap provides milestones from Q1 2018 to Q4 2019. The milestones are quite vague and seemingly non-committal. Based on the roadmap, it seems as though the Kleos team does not have a clear plan for the future development of the platform. The alpha release on Testnet is planned to launch in Q3 2018.

Compliance
The Kleos whitepaper lacks disclaimers and risk assessment documentation. Considering that Kleos explicitly states that token holders have the opportunity to “gain from the growth of the platform”, yet lacks any discussion as to whether KLS is considered a security, the Kleos team is in significant risk of facing regulatory obstacles.

Company and Team
The relatively small team of 6 individuals is presented in the whitepaper with job titles and short descriptions of their professional experience and skills. On their website, profile pictures and social media accounts are provided. The skill set of the team is heavily tilted towards technology as opposed to business. There is a developer on the team with experience developing blockchain applications on Ethereum.

Token Sale
The total number of KLS tokens is 300 million (50% of the tokens will be sold, 20% is for market development and 30% is reserved for Kleos founders, employees and founders). Use of funds is described in brief detail in the Kleos whitepaper. The soft cap is 3000 ETH and the hard cap is 30,000 ETH, where 1 ETH = 5000 KLS. The token sale takes place on February 26.