Review and Rating
SVET Analysis of GHOSTY
System (Technology) (B+):
GHOSTY aims to revolutionize the anonymization of cryptocurrency transactions through the innovative use of MTT (Monero Tunnel and Transfer). The technology relies on Monero's privacy features, specifically the MTT, to enhance transaction anonymity. However, a significant concern arises from the unavailability of the code for open audit, potentially exposing users to fraud risks from anonymous founders.
Vision (Market) (A):
The addressed market size (TAM) is substantial, with potentially hundreds of billions in transfers in countries persecuting crypto self-custody. The market is expected to grow as more centralized states confront cryptocurrency, positioning GHOSTY strategically. Competitors, such as Tornado Cash, highlight the relevance of the anonymization niche within the crypto space.
Execution (Business) (B-):
The business model revolves around an anonymization payment service financed by transaction fees. The roadmap outlines five major stages, ranging from listing on centralized exchanges to introducing utility VNFTs. However, the anonymous status, the centralized governance model and decision-making authority pose trust challenges.
Trust (Financial Proposition) (C+):
Financially, GHOSTY's fully diluted valuation is $18,165,495, based on 33 million GHSY tokens. The token price fluctuates, with a recorded all-time high at $2.15, currently trading at -74.40% lower. The burn rate, runway, and breakeven remain undisclosed, making it challenging to assess the project's financial stability.
GHSY is traded on UniSat, where the most active trading pair GHSY/BTC has a trading volume of about $70K in day, which makes the GHSY market very vulnerable for manipulations.
Conclusion:
GHOSTY presents a comprehensive vision for enhancing transaction privacy in the cryptocurrency space. However, the lack of transparency in technology auditing pose significant trust challenges. The financial proposition, while indicating potential, lacks key details for a comprehensive evaluation. The success of GHOSTY hinges on effective execution of its roadmap. Also, GHSY is highly speculative precluding investments exceeding 2-3K for an "average" trader.