ICO Review – Enkidu

Every day dozens of new tokens are announced at the bitcointalk forums. We go through them all to find the cream of the crop – giving you the scoop on top ICOs before anyone else. 

After reviewing 19 token announcements today, we’re picking Enkidu as the ICO of the day. Aimed at small businesses to reduce paperwork, administration and legal fees, it uses smart contracts to enforce organizational rules, governance, and revenue sharing.


Enkidu aims to use smart contracts to help people create transparent teams and organizations where legal and financial issues are handled autonomously and openly on the blockchain. Rather than creating partnerships via verbal agreements, they can be enforced digitally, and tasks such as revenue sharing can be done automatically, reducing administrative burden and the need for mutual trust. There’s even a system to handle governance, with a voting system to handle resolutions.


Enkidu is created by Avalon Labs, a 30 person startup based out of India which has created profitable businesses before, including email outreach and content services. Their advisors include David Drake, a popular blockchain investor and advisor(LAToken, Quantstamp, WePower), and Jay Smith, the CMO of Factom.


Enkidu Tokens, ENK, are the native currency of the Enkidu platform, used to perform revenue sharing and pay for transactions. Half of each transaction fee goes back to Enkidu and half is burned every time a transaction occurs, diminishing the supply.

There is a hard cap of $30 million dollars for the token sale, with 52% of the tokens in the token sale. Tokens for the team will have a vesting period of 6 months. Both token distribution and fund distribution is described in the white paper.


Enkidu is a promising ICO built on a real business problem – administrative/legal overhead in small businesses, and using blockchain to solve it elegantly. The project goals of using smart contracts to automate organizations, are achievable, yet the potential benefits are profound.  We really like this project and the team seems like they have the ability to pull it off.

Our one significant concern is that hype is currently low, although that can be understandable as the project has only just been announced.

Enkidu’s presale will start on March 24th, 2018. You can join their whitelist here.

Bitcointalk | Website | Whitepaper | Twitter | Telegram

Runner Up – TrueGame

TrueGame is a gambling ICO distinguishes itself through its working product being used today and a token which distributes gambling commissions to token holders.


TrueGame is an online gambling ICO that already has a working product you can play today. Focused on simple, luck-based games, you can go on the site today and participate in lotteries or play scratchcards. While the gameplay is simple, these games are backed by transparent smart contracts published on Github, and the results are recorded on a public blockchain, allowing players to verify the legitimacy of the game.

While Truegame already has a few games online, they aim to use the ICO to expand the platform with more games, attract more players, and add features such as fiat integration.


True Game has a decent, though not stellar team. The leadership team is merely mediocre, consisting of professionals with decent careers outside of the blockchain space. The development team is stronger, with relevant experience to the project including blockchain developers, UX designers, and full stack web developers. Advisors include people involved in the gambling/gaming industry.

While we usually like to see leadership teams with more relevant experience, True Game’s team looks to us more than capable of pulling off their aims.


The TGAME token will be used internally to pay bets, accumulate the jackpot, and pay commissions to affiliate marketers and token holders. Token holders will receive a percentage(unstated) of gambling commissions.

The TGAME token has a soft cap of $2 million and hard cap of $9 million USD which feels reasonable to us. 70% of tokens will go to the token sale, while 19% will go to the team and advisors. Fund distribution is also described, with 22% going towards legal costs and development, 33% going towards funding the jackpot, and 45% going towards attracting players.

It’s hard for outsiders to audit these claims but if True Game follows through, this would be one of the better token distribution models we’ve seen.


It’s rare to find an ICO with an actual working product. While it’s not going to replace the top gambling sites out there, Truegame seems like a decent project with potential to grow, and a proven prototype.

Risks to this ICO include the fact that a commission paying token qualifies as a securities token, which disqualifies it from being listed on many major exchanges. In addition, the success of the project will depend on how successful Truegame is in attracting gamers.

Bitcointalk | Website | Whitepaper | Telegram | Twitter | LinkedIn

Disclaimer: ICOBriefing does extremely early-stage research of token offerings. As the project progresses, details may change significantly or completely. Always do your own research and do not invest more than you can afford to lose.

ICOBriefing does not claim to provide financial advice or endorse any particular token. Investing in ICOs is very high risk and you may lose most or all of your investment. We are not responsible for any of your investment losses.