How the projects are selected for Waves Lab participation?

Waves Lab Project analyst Evgeny Zaykov describes.

Waves Lab’s goal is to deteсt the potential of the project at the early stage and to provide it with maximum support, to provide the possibility of using Waves’ contacts, connections and influence in the crypto-sphere. On the other hand, we have a great responsibility to Waves community, because many participants support the residents of Waves Lab, so a careful approach is needed when analyzing incoming applications for participation in the accelerator program. To do this, we use a specially developed internal scoring system.

So, what do we pay attention to? Let's go step by step.

First, it is a general overview of the project.

Traction parameters of the product: traffic, active users, registrations, clients, partners. We assess the potential market and business model, scalability and network effect, the sustainability of the project economy, whether the team members have the experience in managing the financial flows of this level.

At what stage of the development is the product, what is the current or projected for the near future cash flow.

If the project doesn’t have a ready prototype or MVP, that can be tested, we check, whether there are at least updatable codes on Github. What is the necessity of using blockchain technology. We also can make a technical analysis.

We look at the team: its completeness, track record, cases. How possible the realization of the tasks presented in the road map by the team is.

We pay attention to the terms of ICO: token model, soft and hard cap usage description, stages and conditions of participation in the tokensale, the order of the token issuing and distribution, whether the escrow is planned, what are the actions of the team in relation to the collected funds in case of failure to reach the target cap. We look, whether the project has got any investments before, does it have commits in the upcoming tokensale.

We make a due diligence, identify strengths and weaknesses regarding legal side, check the legal documents project has, the jurisdiction of the project and where it is based, the economic and legal sides of the token, the business reputation of the founders (goodwill).

Also, we analyze the marketing strategy. How the promotion of the project and its token will be realized? How good the project presents itself and how effectively it uses an arsenal of tools to attract traffic and to work with the community. We review marketing activities, whether there are mentions of the project in media. The most important thing here – whether there is at least any formed community around the project.

P.S. We are always opened for new applications for residence, happy to answer all the questions in our Telegram.