Chia Network - Due diligence

[goktugyil]

Chia Network
https://chia.net/

[icochecker]

Chia Network

Discussion

Install Keybase, and run the following to join the Chia public channel:

keybase team request-access chia_network.public

Docs

White paper

• Beyond Hellman’s Time-Memory Trade-Offs with Applications to Proofs of Space
• Simple Proofs of Sequential Work

Other

• Chia Network bitcoin data structures
• Chia-Script.pdf

Team

Bram Cohen

Chia Network (Founder & CEO) - Aug 2017 - Present | Linkedin profile | Github | Twitter | Keybase

• BitTorrent | Owner - Feb 2001 - Present

Media reports that Tron acquired BitTorrent

Source: Engadget | TechCrunch

Acquisiton confirmed by BitTorrent Inc. on Twitter

Acquisiton confirmed by Tron Foundation on Twitter

Torrentfreak.com reached out to Bram Cohen:

Cohen hasn’t said anything in public about the TRON deal, and isn’t very talkative, but when we reached out using an alternative email the response was clear.

“I have no involvement with Tron,” Cohen noted.

We followed up by asking whether this means that he no longer has an official role at BitTorrent Inc. The response was again short but clear.

“That is correct,” he said.

Source: TorrentFreak

Ryan Singer

Chia Network (Co-founder) - Jul 2017 - Present | Linkedin profile | Github | AngelList | Twitter | Keybase

• Neighborly | Managing Director - Mar 2017 - Jan 2018

Source | Archive

• Blockchain Health Co - Web Archive | CEO - Feb 2016 - May 2017
• Blockchain Clearing Corporation | CEO - Jun 2015 - Mar 2017
• CryptoCorp | Co-Founder - Jan 2014 - Jul 2014
• Tradehill, Inc. | President & COO - Jul 2012 - Dec 2013

Alexandra (Ali) Shadle

Chia Network (Director Of Operations & Corporate Secretary) - Dec 2017 - Present | Linkedin profile | Keybase

• Honey | Product Manager - Mar 2014 - Present

Mariano Sorgente

Chia Network (Software Engineer) - Apr 2018 - Present | Linkedin profile | Keybase

• Token, Inc | Engineering Lead - Jan 2018 - Apr 2018
• Token, Inc | Software Engineer - Jan 2015 - Jan 2018

Lipa Long

Chia Network (Mathematician) - Mar 2018 - Present | Linkedin profile | Keybase | Github

• Self-employed | Private Tutor Mathematics - Jun 2015 - Jul 2016
• Meditations in Mathematics | Owner/Writer - Jan 2015 - Sep 2015

Advisors

• Gene Hoffman | Linkedin profile | Github | Keybase

Investor

• DCM Ventures - Kyle Lui | Linkedin profile
• Danhua Capital - Dovey Wan | Linkedin profile | Twitter
• Naval Ravikant | AngelList | Twitter
• a16z

OFAC Check ✅

Funding Rounds

Equity | Reg D 506(b) | $3,375,000 USD | April 18, 2018

Minimum investment accepted from any outside investor: 1 USD

Offering and Sales Amounts:

• Total Offering Amount $3,375,000 USD
• Total Amount Sold $3,375,000 USD
• Total Remaining to be Sold $0 USD

Total number of investors who already have invested in the offering: 32

• Source Reg D 506(b)

Equity | Reg D 506(b) | $800,000 USD | April 6, 2018

Minimum investment accepted from any outside investor: 1 USD

Offering and Sales Amounts:

• Total Offering Amount $100,000,000 US
• Total Amount Sold $800,000 USD
• Total Remaining to be Sold $99,200,000 USD

Total number of investors who already have invested in the offering: 1

• Source Reg D 506(b)

Company

CHIA NETWORK INC.

File Number: 6498438
Incorporation Date / Formation Date: 1st August 2017
Entity Kind: Corporation
Entity Type: General
Residency: Domestic
State: Delaware

New Office Address:
44 Montgomery Street 3 Rd Floor
San Francisco
CA 94104
USA

Old Office Address:
650 California St, 7th floor
San Francisco
CA 94108
USA

Registered Agent Information:
THE COMPANY CORPORATION
251 LITTLE FALLS DRIVE
WILMINGTON
New Castle County
Delaware 19808
USA

Directors

• Bram Cohen | Director, Executive
• Ryan Singer | Director, Executive

Source: Delaware entity search

Source

Smart contract

• N/A

Github

• Chia-Network

2 public repositories

bls-signatures (BLS signatures in C++, using the relic toolkit) | Issues

• 2 contributors Mariano Sorgente | eyalron33
• 1 Branch | Master
• Initial commit 1st August 2018
• 17 Commits - As of 21 Aug 2018

website (Corporate web site)

• 5 Branch
• 31 contributors

Product

• Mainnet planned to launch by the end of 2018.
  Source: Chia FAQ

Vesting

• N/A

Additional info

Token distribution

• N/A

Token allocation

• N/A

Chia FAQ

Chia Network Flags

Real Team: ✅
GitHub: ✅ 2 public repositories. Corporate website and BLS Signature Library with initial commit on 1st Aug 2018, 17 Commits as of 21st Aug 2018 and 2 contributors.
Smart Contract: - N/A
Working Product: ❌ Chia FAQ states that Mainnet is planned to launch by the end of 2018.
+2 yr Vesting for team: - No information regarding the vesting schedule / codified vesting.
Have a company: ✅ Co-founder Bram Cohen & Ryan Singer are director of CHIA NETWORK INC.
Transparent: -

IcoCheck.io

• Added to icocheck.io
• Discuss this project and others on ICO Check Telegram Group chat https://t.me/checkico
• Follow us on Twitter

[icochecker]

Chia Network

Discussion

Install Keybase, and run the following to join the Chia public channel:

keybase team request-access chia_network.public

Docs

White paper

• Beyond Hellman’s Time-Memory Trade-Offs with Applications to Proofs of Space
• Simple Proofs of Sequential Work

Other

• Chia Network bitcoin data structures
• Chia-Script.pdf

Team

Bram Cohen

Chia Network (Founder & CEO) - Aug 2017 - Present | Linkedin profile | Github | Twitter | Keybase

• BitTorrent | Owner - Feb 2001 - Present

Media reports that Tron acquired BitTorrent

Source: Engadget | TechCrunch

Acquisiton confirmed by BitTorrent Inc. on Twitter

Acquisiton confirmed by Tron Foundation on Twitter

Torrentfreak.com reached out to Bram Cohen:

Cohen hasn’t said anything in public about the TRON deal, and isn’t very talkative, but when we reached out using an alternative email the response was clear.

“I have no involvement with Tron,” Cohen noted.

We followed up by asking whether this means that he no longer has an official role at BitTorrent Inc. The response was again short but clear.

“That is correct,” he said.

Source: TorrentFreak

Ryan Singer

Chia Network (Co-founder) - Jul 2017 - Present | Linkedin profile | Github | AngelList | Twitter | Keybase

• Neighborly | Managing Director - Mar 2017 - Jan 2018

Source | Archive

• Blockchain Health Co - Web Archive | CEO - Feb 2016 - May 2017
• Blockchain Clearing Corporation | CEO - Jun 2015 - Mar 2017
• CryptoCorp | Co-Founder - Jan 2014 - Jul 2014
• Tradehill, Inc. | President & COO - Jul 2012 - Dec 2013

Alexandra (Ali) Shadle

Chia Network (Director Of Operations & Corporate Secretary) - Dec 2017 - Present | Linkedin profile | Keybase

• Honey | Product Manager - Mar 2014 - Present

Mariano Sorgente

Chia Network (Software Engineer) - Apr 2018 - Present | Linkedin profile | Keybase

• Token, Inc | Engineering Lead - Jan 2018 - Apr 2018
• Token, Inc | Software Engineer - Jan 2015 - Jan 2018

Lipa Long

Chia Network (Mathematician) - Mar 2018 - Present | Linkedin profile | Keybase | Github

• Self-employed | Private Tutor Mathematics - Jun 2015 - Jul 2016
• Meditations in Mathematics | Owner/Writer - Jan 2015 - Sep 2015

Advisors

• Gene Hoffman | Linkedin profile | Github | Keybase

Investor

• DCM Ventures - Kyle Lui | Linkedin profile
• Danhua Capital - Dovey Wan | Linkedin profile | Twitter
• Naval Ravikant | AngelList | Twitter
• a16z

OFAC Check ✅

Funding Rounds

Equity | Reg D 506(b) | $3,375,000 USD | April 18, 2018

Minimum investment accepted from any outside investor: 1 USD

Offering and Sales Amounts:

• Total Offering Amount $3,375,000 USD
• Total Amount Sold $3,375,000 USD
• Total Remaining to be Sold $0 USD

Total number of investors who already have invested in the offering: 32

• Source Reg D 506(b)

Equity | Reg D 506(b) | $800,000 USD | April 6, 2018

Minimum investment accepted from any outside investor: 1 USD

Offering and Sales Amounts:

• Total Offering Amount $100,000,000 US
• Total Amount Sold $800,000 USD
• Total Remaining to be Sold $99,200,000 USD

Total number of investors who already have invested in the offering: 1

• Source Reg D 506(b)

Company

CHIA NETWORK INC.

File Number: 6498438
Incorporation Date / Formation Date: 1st August 2017
Entity Kind: Corporation
Entity Type: General
Residency: Domestic
State: Delaware

New Office Address:
44 Montgomery Street 3 Rd Floor
San Francisco
CA 94104
USA

Old Office Address:
650 California St, 7th floor
San Francisco
CA 94108
USA

Registered Agent Information:
THE COMPANY CORPORATION
251 LITTLE FALLS DRIVE
WILMINGTON
New Castle County
Delaware 19808
USA

Directors

• Bram Cohen | Director, Executive
• Ryan Singer | Director, Executive

Source: Delaware entity search

Source

Smart contract

• N/A

Github

• Chia-Network

2 public repositories

bls-signatures (BLS signatures in C++, using the relic toolkit) | Issues

• 2 contributors Mariano Sorgente | eyalron33
• 1 Branch | Master
• Initial commit 1st August 2018
• 17 Commits - As of 21 Aug 2018

website (Corporate web site)

• 5 Branch
• 31 contributors

Product

• Mainnet planned to launch by the end of 2018.
  Source: Chia FAQ

Vesting

• N/A

Additional info

Token distribution

• N/A

Token allocation

• N/A

Chia FAQ

Chia Network Flags

Real Team: ✅
GitHub: ✅ 2 public repositories. Corporate website and BLS Signature Library with initial commit on 1st Aug 2018, 17 Commits as of 21st Aug 2018 and 2 contributors.
Smart Contract: - N/A
Working Product: ❌ Chia FAQ states that Mainnet is planned to launch by the end of 2018.
+2 yr Vesting for team: - No information regarding the vesting schedule / codified vesting.
Have a company: ✅ Co-founder Bram Cohen & Ryan Singer are director of CHIA NETWORK INC.
Transparent: -

IcoCheck.io

• Added to icocheck.io
• Discuss this project and others on ICO Check Telegram Group chat https://t.me/checkico
• Follow us on Twitter