Whattup shitcoiners - happy Monday.
In light of a green day in crypto, we will review an ICO that actually completed a product.
WHAT?!?!?!? Yep, an ICO that didn’t dump their ETH :D
Today’s review is of SIRIN LABS token (yes, they seem to type it in caps like that…)
Let’s dig in…
SIRIN LABS token (ticker: SRN)
Wtf is this shit?
This review will be very light - hardly any technicals. SIRIN LABS token (SRN) is the token issued in the ICO by Sirin Labs. Founded in 2014 Sirin Labs gained some recognition after launching the “most-secure phone” - the Solarin...but priced at around $14,000 (lmao wtf). Unsurprisingly, they laid off lots of their company a year later and went with a different business model...but according to reports the phone itself was a success...we’re skeptical.
Anyways, the good thing to take away here is that they are a company, with experience, and have released a product. Late 2017 was when they held their ICO (on Ethereum) to crowdfund their now ready-to-order phone, Finney, a blockchain-based phone...they use the SIrinOS, which is a fork of Android that has added capabilities allowing users to more easily interact with the decentralized world. They raised ~$157,000,000 to fund their efforts.
The phone has a built-in cold storage wallet, dCETNER (a dApp marketplace), education incentive apps, token exchange services, and more. It is priced at $1,000. They even partnered with Foxconn (the same manufacturer Apple uses for their iPhones) to prepare for any demand.
NOW….we think this is the right step towards mainstream adoption. A user-friendly phone that hopefully gets rid of most of the headaches for users (not downloading a new wallet for each crypto asset, easy access to search and launch dApps, built-in cold storage, peer to peer sharing)...BUT, we are not a fan of the SRN token itself.
Let’s see the use-case for SRN - you use SRN to buy dApps on the phone, use their services..and OH, even to buy the phone you need SRN. A bit forced? We think so.
All in all, there you go, SRN is the token to be used in the Sirin Labs ecosystem, right now their latest prized product is the Finney blockchain phone.
Who tf is behind this shit?
Well..the Sirin Labs team is behind it :) We mentioned their making of the Solarin, and now Finney phone. Moshe Hogeg is the founder and Co-CEO - he is a venture capitalist and is experienced in the blockchain space.
All-in-all, mid-tier shitcoin...the token itself is meh, we generally don’t like forced ‘utility’ where you can only use a token in their market, BUT what they made is pretty cool and do deserve props.
Hope you learned some shit and be sure to follow us on Twitter!
- Mike and Aaron