Diagon (DGN) ICO Rating and Review! (Last update: Failed)
Business
Diagon (DGN) ICO is Dead and There is no hope for Diagon.io. Let’s see why?
| Etymology | Analysis |
|---|---|
| The name Diagon is a neat wordplay on Diagonally. The word diagonal itself comes from the Latin Diagonalis, which in turn is from Greek diagōnios, meaning 'from angle to angle', a compound of dia meaning through and gōnia meaning angle. | Diagon is a good name. A 6-letter word with easy pronunciation. It does not have many written modes and is easy to remember due to its resemblance to Diagon Alley (referring to the Harry Potter story). The only problem with this name is the existence of similar businesses (such as DiagonLTD and Diagon Ventures). |
Score: 8.5/10
| Strengths | Weaknesses | . | ||
|---|---|---|---|---|
| -Good vision -Profitable business -The eSports market is growing -A fascinating and exciting idea -Youth is the target market -High ROI (Return on investment) if entering the market -Three sub-businesses (DiaArena, DiaBet, DiaExchange) | -Unrealistic and out of reach -No complete framework for PR and marketing detail -No MVP (Minimum viable product) or Demo -No need for digital currency (we do not understand why there is a dedicated token) -It's hard to keep it always on top of the market and reliable. -This project can be launched as a startup (without the need for Blockchain or digital currency). -No need for the Smart Contract | |||
| Trustworthy | Profitable | Sustainable | Stereotyped | . |
| No | Yes | No | No | |
Score: 8.5/10
| White Paper (Here) | ||
|---|---|---|
| Strengths | Weaknesses | Multi-Languages |
| -Complete explanations -It is understandable -Quite and clear -Good graphics and layout -Attention to all corners of the business -Complete description of token distribution | -Lack of the team introduce -Lack of tables and graphs -Lack of introduction of social media -little information about the fund allocation -No mention to the details of the Roadmap -No background or resume of previous projects -No MVP (Minimum viable product) or Demo | Yes |
Score: 7/10
| Name | Official Business | Type of Company | Criminal Record |
|---|---|---|---|
| DES DIAGONS ESPORTS LTD | Verified | Limited Company | No |
| Registration Number | Registration Date | Country | Contradiction in Info |
| ΗΕ 404243 | 19/11/2019 | Cyprus | Yes |
| Description | |||
| Directors used fake names on websites and listing media. Two managers and founders have left the project. Currently, team members are not at the registered location and it is not clear where the physical office of the project is. We did not find any phone numbers from this company. |
|||
Score: 8.5/10
| Office Type | Multi-Branch | Address | Google Map |
|---|---|---|---|
| Physical | No | "Arch. Makarios III, 59, ANTONIS MOUYIAS TOWER, Floor 1, 6017, Larnaca, Cyprus" | Not Registered |
Score: 7/10
IT Structure
| Domain | Creation Date | IP | Owner |
|---|---|---|---|
| Diagon.io | 01/07/2019 | Coordinated | Protected |
| Whois | UI/UX Score | Web Hosting | Responsive |
| Checked | Good (3/5) | NameCheap, Inc | Yes |
| DNS Records | SSL/TLS Certificate | Connection Status | Speed Grade |
| No Error | Approved (Cloudflare) | Secured | 59% |
| Multi-Languages | Server Location | Abuse & Scam | |
| No | Texas , USA | No Report | |
| In the Media | |||
| Yahoo Finance | Daily Herald | NAVER | ProBit Support |
Score: 8.5/10
| ID | Start Date | Members | Content Quality |
|---|---|---|---|
| Group | 12/29/2019 | 5.2K | Normal (3/5) |
| Engagement | Fake Members | Scam Report | |
| Medium (3/5) | 20% - 25% | Very Low | |
| Short Description | |||
| Achieved an acceptable number of members and high interaction in a short period of time. Diagon currently has three official telegram groups in English, Japanese and Pakistani. The project activity in Telegram is good. But the quality and quantity of content production must increase. In the last two months, the group has had 20% ineffectiveness and we couldn't find any official Channel. | |||
Score: 7/10
| ID | Start Date | Followers | Content Quality | |
|---|---|---|---|---|
| Page | 08/23/2019 | 4.8K | bad (2/5) | |
| Engagement | Average Likes | Fake Members | Scam Report | |
| Medium (8.70%) | 340 | 25% - 30% | Low (4/5) | |
| Description | ||||
| Activity on Instagram is low and of poor quality. About 30% of the members and interactions are fake and the content is of low quality. Diagon has never officially introduced its Instagram page on other social media. We think they have no plans for that. | ||||
Score: 5/10
| ID | Start Date | Followers | Content Quality |
|---|---|---|---|
| Channel | 05/25/2019 | 9.4K | Good (4/5) |
| Engagement | Average Likes | Scam Report | |
| High (4/5) | 178 | Very Low (5/5) | |
| Short Description | |||
| Diagon has started a good activity on LinkedIn. The quality and quantity of exclusive content and user interaction over 11 months is admirable. The only problem we found with this channel is that they have to reduce the abstract content a bit and increase the educational content and introduction of the project. | |||
Score: 10/10
| ID | Start Date | Followers | Content Quality | |
|---|---|---|---|---|
| Channel | 08/23/2019 | 4K | Normal (3/5) | |
| Engagement | Average Claps | Fake Claps | Scam Report | |
| Medium (3/5) | 2.5K | 20%-25% | Low (4/5) | |
| Short Description | ||||
| We see the same rhythm on Medium as other social media in Diagon. Introduced in 2019, very fast progress and maximum members attraction in a short time and also the use of fake members (about 20%) and entering the period of blackout and decline of content from the summer of 2020. | ||||
Score: 9.5/10
| ID | Start Date | Subscribers | Content Quality | |
|---|---|---|---|---|
| Channel | 07/28/2019 | 8.1K | Normal (3/5) | |
| Engagement | Average Views | Fake Views | Scam Report | |
| Low (2/5) | 3.4K | 25% - 30% | Low (4/5) | |
| Short Description | ||||
| You can not find anything special on this channel except for a short animation. A total of 5 films, the last one is 6 months ago. The quality of the content is mediocre and we found from the similarity of the words that a large percentage of the comments in the first film are fake. (Out of 340 comments, "Good Project" has been repeated 130 times) | ||||
Score: 5/10
| ID | Start Date | Followers | Content Quality | |
|---|---|---|---|---|
| Page | 06/01/2019 | 19.2K | Good (4/5) | |
| Engagement | Average Activity | Fake Members | Scam Report | |
| Low (2/5) | 3.9 Feedback | 10% - 15% | Medium (3/5) | |
| Short Description | ||||
| Unlike other media, the Diagon Twitter is in good condition and is still alive. Exclusive content and the number of acceptable followers with a low fake rate. | ||||
Score: 7/10
| ID | Start Date | Followers | Content Quality |
|---|---|---|---|
| Page | 24/07/2019 | 20.5K | Good (4/5) |
| Engagement | Average Likes | Fake Members | Scam Report |
| High (4/5) | 7 | 5% - 10% | Low (4/5) |
| Short Description | |||
| Facebook is one of the strongest media outlets of the company and continues to operate. But we have to pay attention to the fact that the level of user interaction (likes, comments) has decreased drastically. | |||
Score: 7/10
| ID | Start Date | Members | Content Quality |
|---|---|---|---|
| User | 07/30/2019 | 3.7K | Normal (3/5) |
| Engagement | Karma | Fake Comments | Scam Report |
| Medium (3/5) | 367 | 1% - 5% | Low (4/5) |
| Short Description | |||
| The activity on Reddit is good. Although the user interaction rate is low, but the volume of content production and activity of page admin is high. | |||
Score: 8/10
| ID | Start Date | Read Times | Comments | |
|---|---|---|---|---|
| Announcement | 09/23/2019 | 1227 | 50 | |
| Content Quality | Engagement | Fake Interaction | Scam Report | |
| High (4/5) | Low (2/5) | 15% - 20% | Medium (3/5) | |
| Short Description | ||||
| Unfortunately, the situation of BitcoinTalk is not satisfactory. It has been more than 20 days since the last comment and the number of visits has not increased. The beginning of the thread was very good and comprehensive, but as it is clear, the managers do not respond to the user's comments. | ||||
Score: 7/10
| ID | ||
|---|---|---|
| Project | ||
| Short Description | ||
| Des Diagons eSports LTD doesn’t have any public projects on Github | ||
Score: 2/10
Technical Structure
| Token Allocation | Token Distribution | Total Supply | |
|---|---|---|---|
| Software Development: 50% Marketing: 35% Operational Costs: 15% | Sale: 75% Company: 15% Bounty: 5% Team: 5% | 40,000,000 DGN 8,000,000 U$D |
|
| Bounty & Airdrop | Live Price | Market Cap | Holders |
| Yes (Not Successful) | $0.0 | $0.0 | Low |
Score: 7.5/10
ICO (Initial coin offering) details
According to the Roadmap, Diagon (DGN) ICO should have started in September 2019. But it is clear from the token transactions that the team has not achieved this goal. You also have to register on the site to buy tokens, which during this process we noticed a big bug in this section – the registration process is not done and the purchase page is inaccessible- To date, Diagon has not sold well and we think its a scam ICO.
IEO (Initial exchange offering) details
Starting an IEO is a good thing. The first phase of IEO on ProBit.com started on January 20, 2020, and continued until May 23. However, no exact information is available on the number of sales, trading volume, and the number of customers who participated in this IEO.
On the other hand, with a little research on ProBit.com and a review of the past, feedbacks, and activity history, we found that this exchange does not have complex policies and a strict filtering system for listing projects. Although ProBit has a high volume of transactions, it already has a history of listing unreliable projects.
Score: 7/10
Diagon (DGN) ICO had a great start and the early phases of the project gave us hope for a great ROI. Diagon’s idea is attractive, new, creative, and profitable. The project was in good condition by early 2020.
It began to collapse in March. Many team members left the project. Some of them even deny cooperating with Diagon ICO and violated their past. Two managers left the project.
We think that some internal problems and lack of long-term planning and financial shortages led to the collapse of this IEO. Activity on social media- unlike before – has fallen sharply. Even listing on ProBit – a new and low exchange rate – could not improve the business situation.
Although Diagon ICO claims to be fixing the bug and restarting the project, for various reasons (including the abandonment of the project by the managers and lack of funding) we are unlikely to see this happen.
Diagon ICO Review is a prime example of a great idea that failed to raise capital in a short period of time and expired within a few months.
Diagon could have been a lucrative project, but it is now classified as a high-risk project. In our opinion, they did not intend to Scam. They just could not achieve their goals and abandoned the project.
We are currently suggesting no investment. Keep an eye on it. If they can get back into the cycle within the next 2 months – with a 10% chance- and come up with a realistic and attractive roadmap for the IEO, the option of multi-stage long-term investment can be considered.
Summary
Diagon eSports LTD
Positive
- Creative and new ideas.
- High potential for viral spread.
- Powerful social media.
- The initial version of MVP.
- A large number of audiences.
- Strong & clear presentation.
Negative
- Some bugs in legal info.
- Non-specialist & unverified team.
- Some team members left the project.
- Use fake members & interactions.
- Decreased activity on social media.
- Abandon the project by managers.
- Very poor PR.
- Failure in ICO.
- Low token distribution.
- Non-clear info about IEO.