One of the most exciting projects that launched on the NXT blockchain in 2017 was Adel.
Adel is an idea incubator that focuses mainly on blockchain projects. Submitting ideas and the execution of these projects are delegated to the Adel Members with the Adel core team supervising the end to end process.
An Adel member is a stakeholder who holds at least 64000 ADL coins (32000 if they participated in ICO). This allows the member to have access to all the community modules (eg. the collaboration module), participate to the project incubation and also submit own ideas.
The ICO was launched on May 1st and ended on the 31st of May 2017 collecting 442.5 BTC. Adel was the first KYC/AML/CTF (Know Your Customer, Anti-money Laundering, and Counter Terrorism Financing) compliant ICO in the world.
The result was below the minimum target of 900BTC so the members had to vote for keeping the project alive or if the collected BTC had to be returned to the investors. Members voted to go on with the project and Adel started its plan of developing the collaboration modules and follow their defined roadmap:
▲ Feb 2016 ▲ Adel is founded
▲ Jun 2016 ▲ Phase 1 ▲ Ecosystem Architecture
▲ Dec 6th 2016 ▲ Website is launched
▲ March 17th 2017 ▲ Adel Ecosystem Limited is registered in the Isle of Man
▲ May 1st 2017 ▲ ICO, round 1 begins
▲ Jun/Jul 2017 ▲ Adelphoi, ADL is listed on exchanges
▲ Jun 2017 ▲ Community module development begins
▲ Jun 2017 ▲ Phase 2 ▲ Legal & Investment structure development begins
▲ Jun 2017 ▲ Idea to Project Supply Chain begins
▲ Q4 2017 ▲ Ardor is released
▲ Q1 2018 ▲ Adel becomes child-chain of Ardor
▲ Q1 2018 ▲ Profit participation legal entity established
▲ Q1 2018 ▲ Adelshare, ADS profit participation token is established
▲ Q2 2018 ▲ First projects are funded & launched
▲ Q2 2018 ▲ Phase 3 ▲ Project Execution
Adel members voted on the 30 November 2017 to move ADL from NXT to Ethereum, thus the roadmap will need to be updated in case an Ardor child chain is not required anymore. A decision on whether this will happen or not will be taken in early 2018.
ADL will then move to Ethereum, in February 2018, considering that some time is needed to develop and test the new coin. In the meantime it will stay on the NXT blockchain, so it might be that the NXT price fluctuates, following the Ignis snapshot, and might affect the ADL coin as well.
As I explained in this article, I strongly believe that NXT is a solid investment even after the Ignis snapshot, but it might be that speculators will focus on the short term and sell their NXT stake.
So let’s go back one step and focus on Adel and the fundamentals of the project:
– Adel has collected 442.5 BTC which in these days is worth more than 5 Million USD, since none of those BTC have been converted. Adel can sustain for at least 18 months with the collected funds. If new funds for projects are needed, Adel has the possibility to hold 2 more ICOs.
This means that Adel has all the ingredients to become a success. It has a brilliant idea and the funds to execute it at the highest level.
The one ingredient that is still missing is the amount of members, or, to be precise, members that are making their skills available in Adel. That’s one of the most important parts of Adel’s vision and that’s where the decision to move ADL to Ethereum is aiming to reach out to more active members. Considering the reach that Ethereum has, this is most likely avenue. Anyway, if this is happening or not, one way to bring forward the projects is to outsource some tasks using the projects funding. In the end, it might be a good idea to outsource some tasks as members might have the skills but maybe don’t have the time to participate actively, so outsourcing can allow the project members to coordinate rather than execute, which might be beneficial from the project execution quality and timeline point of view. In fact, Adel has this consideration integrated into their architecture, via their Project Review Committee. This is where experts will reside and help with the idea incubation and project planning processes. These aspects will anyway be analysed, project by project, during the Project Planning phase (P2).
To wrap up, my opinion is that Adel has huge potential and that ADL coins are currently on sale on the NXT blockchain. And after the Ignis snapshot, when many might be re-allocating their NXT stake, there might be even more price shocks to the assets within NXT.
Considering also that the ETH move might boost the ADL value, buying some ADL while still on NXT might be a very smart move.