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ContentBoxBOX RatingCcc

ProjectFundamentalCcc Overview Infrastructur Contentand Category Keyword e intellectualproperty TeamBbb Token BOX TokenCategory Token

CirculatingSupply $7.75M Marketcapranking 366

CommunityandpopularityD Tradevolume(average $1.74M Tradevolumeranking 142 ofthelast30days)

CurrentpricevsATHin Currentpricevsinitial AdjustablesBb -98.74% -65% Fiat oeringpriceinFiat Background ContentBoxisablockchainprojectforthecontentbusiness,video/audiocontent especially. Since being founded by former employee Renee Wang, RiskMedium Contentboxhasreceivednumerousawardsasaglobalbroadcastingplatform. TheprojecthasreceivedinvestmentsfromJRRCryptoandShenBo,thefounder ofFenbushiCapital,whoisalsoastrategicconsultantandcornerstone-investor. TransparencyC AnonlinearticlepointedoutconcernswithfounderWangXiaoyusprofessional experience,butContentBoxquicklyreleasedproofthatReneedidinfactpreviously workatGoogle(thoughtheydidnotelaborateonwhatexactlyReneespositionat AuthenticityCc Googlewas). Shortlyafter,thefounderofBOXprojectDaMo(alsotheformerCOOofVechain) claimed the rights for using BOX as a token symbol and accused Contentbox of disrespecting custom by using an already adopted name. ContentBox did not FundraisingandComplianceBbb respondtotheaccusation.DaMobluntlyexpressedhisanger,callingthenaminga theft.BOXhadfirstcommunicatedwithContentBoxabouttheissueandcitedthat the BOX ERC20 contract was created on December 2017, five months prior to the ContentBoxcontract. Despitetokennamesbeingvaluableassets,sinceacatchynamecangreatlyhelp with investor interest, such names are not bestowed any rights. Normally, most Contactus blockchainprojectstendtoavoidusingapreexistingname,butthisisnotenforced byanylaw.

Ocialwww.DPRating.com TrendOutlook

Twittertwitter.com/DPRating The project has received investments from many institutions. The founder of Telegramt.me/DPRating FenbushiCapital,ShenBo,isaparticipantintheprojectasastrategicadvisorand Seedroundinvestor. Wechat In the content industry, creators often dont have control over their own content. Contentbox has a solution for this. They attempt to coordinate the interestsofmanypartieswithatokenincentiveecosystembywhichanycreatorcan gainvaluefromtheircreationifusersareencouragedtosharehighqualitycontent andlowerthebarrierofintellectualrightprotection. ContentBoxs management team is comprised of people from many famous enterpriseslikeGoogleand.PriortoContentBox,theteamdevelopedan alreadyverypopularaudiocontentsharingplatformcalledCastbox.Castboxisnow the no. 3 application on Google Play with 17.2 million users and over 50 million 2018.10.11 sharedaudiofiles.ThisistheuniqueadvantageofContentBox. ContentboxcantakeadvantageofCastboxssuccessfulexperienceandexistinguserbase. ItwillhaveahigherchanceofsuccessifdeeplyintegratedwithCastbox. ThetokenpricedependsonhowBOXisintegratedintoCastbox,howthemarketresponds tothenewproduct,andhowwelltheycanrealizetheproduct. IfContentBoxprovestobeanAppthatcombinesablockchainincentivesystem,itsboth a booster for true implementation and a downside for long-term development. Another productfromtheteam,Castboxmustalsoconfronttheriskoftheirusernumberdropping.For now, we have seen no other substantial advantages other than the existing user base of Castbox.Itslong-termdevelopmentspaceissmall.

MarketCapOutlook

TimeSpam Trend EstimatedMarketCap Expectation

ShortTerm Followsthemarkettrend 350-380 Neutral

LongTerm Itconfrontsdicultiesinthelongterm 380-400 Negative

RatingSummaryB->Ccc

The team has already created a successful application with 17.2 million users and 50 millionpiecesofaudiocontent. Interests are aligned by using a token incentive mechanism; in this way users are encouraged to share good content and the barrier for intellectual property protection is lowered. DeepintegrationintothesuccessfulproductCastboxgivesContentboxagreaterchance forsuccess. ContentBox has attracted many institutional investors. Shen Bo, founder of Fenbushi Capital,joinedtheprojectasanadvisorandangelroundinvestor.

RiskSummary:Medium->Medium

Githubcodeisnotopensourced.Theirofficialchannelhassaidthatthecodewilllikely beopenattheendof2018orearly2019. Accordingtothetokenallocationplan,thelock-upplanispublicfor40%ofthetokens theshareforthepre-sale,team,ecosystembuilding,foundationandpartnershipbutthe other60%oftokenshaveyettobegivenalock-upplan,whichaggregatesthecirculating supplyrisk. A. ProjectFundamental

Overview

ContentBox positions itself in the content distribution industry, mostly audio/video content.ItconsistsofasafemultipartypaymentsystemBOXPayout(apublicchain),a gross platform identity system BOX Passport, and BOX Unpack, which is a suite of managementtoolsforindependentpublishersandanintegratedblockchainuserinterfacefor developers. Feature:BOXPayout+Smartcontract+BoxPasspot BOX Payout is not a blockchain that supports a general purpose Turing-complete virtual machine. The main purpose of the BOX Payout blockchain is to support fast and secure conditional transactions. In a PoNE (Proof of Network Effect ) + PoS Proof of Stake consensus,theprobabilityofbeingselectedasavalidatorwilldependontheamountofthe validatorsdeposit,aswellasthecontentcreationandconsumptionofthatparticularnode. Significant advantages of this consensus mechanism include security, reduced risk of centralization,andenergyefficiency.Transactionthroughputwillalsobeimproved. CryptoContractsareakindofsmartcontractthatcanbetranslatedintoaseriesofcrypto primitives. Developers can also consider them as off-chain smart contracts. It enables interactionwiththeblockchainwithoutusingEVM,aconceptfirstintroducedbyBlockstream scientistAndrewPoelstra. ByusingSchnorrsignatureasawitness,thebulkoftransactionscanbemovedoff-chain andleavetheblockchaintodowhatitisreallygoodat:checkamulti-signature.

1 DPRating.com BOX Passport is a decentralized interoperable identity service for users. BOX Passport establishesthisidentitybyextendingthewalletconcepttostorepersonalinformation,such as reputation, alongside a token account. This identify service is not stored in any applications centralized databases and is inherently decentralized, thus less vulnerable to hacks.Itallowsuserstomakefrictionlesstransactionsondifferentapplicationsor usingonesingledigitalidentity.

Summary

ContentBoxaimstoprovideuserswithawholesetofblockchainsupportedsharedcontent pools, shared user pools, and a unified payout system. The team has also announced that CastBox and its 17.2 million users are integrated into the ContentBox wallet, becoming the firstmajorpartnerinthedigitalaudiodomain.ContentBoxhasalsomadeinitialcooperation contact with several video platforms, photo sharing communities, and smart hardware companies.

Conclusion

The conflict between independent publishers and content creators is the ownership copyright of creation. On current mainstream platforms, the content producers have made great contributions but the economic reward is rather little. Meanwhile different platforms alsostruggleinthefiercecopyrightcompetition. ContentBoxssolutionalignsinterestsofdifferentpartieswithatoken.Thesuccessand usersofCastBoxsetagoodfoundationfortheintegrationofCastBoxandContentBox.Thisis auniqueadvantageoverothersimilarprojects.

Dimension Rating TotalPoints Points

Positioning Publicchainforspecicusecase 15 13

Competitive Accumulatedadvantagesbutnottooinnovative 5 2 Advantages

Necessity Strongdemand,Tokenmechanismisstandard. 15 8

B. Team

Overview

TheteamhaschangedsincethereleaseofthelastreportfromContentBox.EdDillerisno longerincludedontheofficialwebsite.NAScoredeveloperYangLijoinedtheteam.Thetotal numberofmembersremainsthesame.

Members Ocialintroduction Comment

FoundedCastBoxin2016.Reneehasleditsrapidgrowthinthelasttwoyears.Duringwhichshe CastBoxfounderand foundedaglobalteamconsistingof50internationaltalentsandfundraisedover20million CEO.xGoogler,pioneer ReneeWang,founder& dollars.ReneewasalsoamemberofAdmobteamofGoogleBeijingGoogleDublinandGoogle Androiddeveloperand CEO Japan.Shewasthe7themployeeofUmeng(acquiredbyAlibaba)asanAndroidengineer. globalmobileapp ReneeholdsaB.S.inPsychologyatPekinguniversity. monetizationexpert. Gangisaserialentrepreneur,systemarchitectandfull-stackengineer.Hehasmorethana decadesexperienceinbuildingwebandmobileapplications.In2002hegraduatedfrom Former5milespartner GangHuCTO PechingUniversitywithaM.S.inComputerScience.HealsoholdsanMBAdegreefromDuke.He andCTO.Rich usedtobepartnerandCTOof5miles,aleadinge-businessmobileappinUSAwithmillionsof projectexperience dailyactiveusers. AlaxworkedforMotorola,andfrom2003to2015.HefocusedonLinux/Java/ WokedforXiaomiand AlaxHeCastBoxCo- Androidmobileapplication.Since2008hehasbeenfocusedonAndroidmobiletechnologyand Borqsforlessthana founder&CTO developmentwhichwaspioneeringatthetime.HejoinedFounderelectronicsaftergraduation year,ledsoftware asamediarelatedsoftwareresearch.Graduatedin1999. research. AformerengineeratFacebook,Xiaohuidesignednextgenerationwirelessnetworkand Formerengineerat implementeddistributedprotocols.Hehas10yearsresearchexperienceinthedomainof Facebook,rich XiaohuiLiuBlockchain distributedprotocols.Hehaspublishedninepapersontoptierconferencesandholdsone distributednetwork scientist patent.HehasalsomanagedtwoFacebookopensourceprojects.B.SWuhanUniversityand development PhDWayneStateUniversity experience. 2 DPRating.com YiqiangwasthefounderandCTOofKaitongFinancewhichwasstartedin2015.KaitongFinance hasservedhundredsofplatformsandnancialinstitutionswithaccumulatedtrading YiqiangWangKaitong volumeexceeding10millionrmb.BeforejoiningKaitong,Yiqiangwasthefoundingmemberand N/A FinanceFounderandCTO coredeveloperofUmeng.HehasalsoconducteddataanalysisforChinesemobileapplication platforms.YiqianghasaM.S.ComputerScienceandB.S.ComputerSciencefromSudan University.

AdvisorsandInvestors On the advisor side, they have famous venture capitalist Bo Shen and Yusen Dai, Prof. HongweiZhang(expertofDependableNetworkingandComputing),andTianfangLi,founder atHydro. YusenDai,partneratZhenFund,andJiaTian,chiefscientistofCortex,nolongerserveas advisors.AnewadvisorisDongInKim,founderofKoreaCoin.

beforeafter

More than 58 institutional investors have invested in ContentBox, including renowned institutionssuchasLiaodeCapital,FenbushiCapital,LinkVCandBlockVC. ZhenFund,JiaTian(individual)andYusenDaiwereremovedfromtheadvisorslist. StandardKeplerandUnivaluesAssociatesarenewlyaddedinstitutionssincethelastreport waswritten.

3 DPRating.com Summary

ContentBoxandCastBoxarecloselyrelated.CoremembersofContentBoxaremostlyfrom CastBox.TheContentBoxteamcomesfromprestigiouscompaniessuchasGoogle,Facebook, and Xiaomi. Most of the members have good software developing experience. The team has alreadydevelopedasuccessfulproduct.Theblockchainexperienceisratherweak.Amongthe coremembers,onlyXiaohuiLiuhasdistributednetworkdevelopmentexperience.

Conclusion

Given the privilege of the existing user base from the CastBox App, ContentBox is very resourceful in the industry. The advisors and investors can also help the project move forward.ContentBoxscoredhighlyinthisdimension.SofarwecannotfindwhyJiaTianand ZhenFundwereremovedfromthewebsite.

Member Ocialintroduction Comment

BoShen FounderatFenbushiCapital InvestorofContentBox

HongweiZhang ProfessoratIowaStateUniversity DependableNetworkingandComputingspecialist

JohnZagula FounderatIgnitionCapital N/A

A. CommunityandPopularity

Overview

AccordingtoGoogleTrends,ContentBox'ssearchindexreachedabove100onJune24and June30,2018.ItshighestsearchpopularitywasintheUnitedStatesandSpain. ContentBoxcannotbefoundontheWeChatIndex.

ContentBoxhas9,739followersonTwitterand82,561membersinitsTelegramgroup,but theinteractivityislow. Inthelastreport,wementionedthatPRactivitiesareregularlyheld.Howeverinthelast month,ContentBoxdidnotholdanyPRevents.

Summary

ComparingthetworeportssuggeststhatthenumberoffollowersonTwitterandTelegram hasrisenbuttheinteractivitylevelhasundergoneamajordropsincethereleaseofourlast report.

Conclusion

The initial listing on Huobi was indeed eye-catching, but the price and popularity were partlydraggeddownbytheoverallmarketsentiment.PReventsalsodecreasedcomparedto thepre-listingphase.

4 DPRating.com Dimension Rating Totalpoints Points

SocialMedia Mediuminsocialmediaandsearchpopularity.Interactivitylevelislow 5 2.5

Community Highinsocialmediaandsearchpopularity.Interactivitylevelislow 10 4

PREvents Medium 5 1

D. Adjustables

Radmapdisclosedonthewebsite:

Plam Milestines Status

2016.01 FoundingofCastBoxteam

2016.02 LaunchedCastBoxforAndroid

2017.01 LaunchedCastBoxforIOS

2017.10 Launchedindepthaudiosearchingfunction

2018.03 Tokensale Previousstatus

2018.09 TokenintegratedtoCastBoxapplication Currentstatus

2018.12 LaunchthealphaversionofBOXPassport

2019.03 LaunchtestateofBOXPayout

2019Q4 LaunchBOXPayoutMaine

ContentBoxisnowinitstestnetphase,inaccordancetotheoriginalroadmap.Sofar,there isnodelayindevelopment.

Summary

Accordingtotheirweeklyupdates,theteamisnowfocusingonthetechnicalresearchfor BOXPassport.Brandbuildingandcommunityactivitiesareongoingaswell.

Conclusion

In September, the BOX token will be integrated into the CastBox applicationa key milestonethatshouldbecloselyfollowed.

5 DPRating.com RatingMetrics TotalPoints Overall Firstdimension Seconddimension Thirddimension Details Rating inPercentage Rating Position15% 13

Competitiveadvantages Firstmover2% No,buthasuniqueadvantages 1 Project 5% Innovative3% Little 1 65.71 Ccc

IsitPainpoint5% Strongdemand 4 Necessity15% Tokenincentive10% Hastokenincentivemechanism 4 teamproleand Team ExecutiveTeam30% Matchlevelisrelativelyhigh 8 projectmatch10% Software development Ledasoftwareproject 8 experience10% Operation Veryexperienced,hasledateambefore 5 experience5% Otherindustry 80.00 Bbb Resourceful 4 resources5%

Investorsandadvisors Levelofinuence3% Veryinuential 2 5% Relativity2% Relativetotheproject 1 Institutioninvestors Onetoptierinstitutionalinvestoror Institutioninvestors5% 4 5% severalregularinstitutionalinvestors Popularity1% Medium 0.5

SocialMediaandSearch Interactivity2% Low 0 Trends5% Searchpopularity Communityand High 2 2% 37.50 D popularity Popularity3% High 3 Community10% Interactivity7% Low 1

PREvents5% PREvents5% FewPRevents 1 Fulllmenttracking Fulllmenttracking2% Onschedule 1 2% Adjustable GithubAudit3% 75.00 Bb (-10%~10%) GithubAudit3% N/A N/A Progress5% Progress5% Hasmainnetandnodes 3

Total 68.21

Rating Ccc

Rating Points Comment

Overallratingisveryhigh.Investibilityratingisveryhigh.Uncertaintysurroundingtheprojecthaslittleimpactonits Aaa [95~105] investmentvalue.Theprojecthaslong-terminvestmentvalue. Overallratingishigh.Investibilityratingisconsiderablyhigh.Uncertaintysurroundingtheprojecthaslittleimpacton Aa [90~95) itsinvestmentvalue.Theprojecthaslong-terminvestmentvalue. Overallratingisrelativelyhigh.Investibilityratingishigh.Uncertaintysurroundingtheprojectisaectingits A [85~90) investmentvalue,Theprojecthasmidorlong-terminvestmentvalue. Overallratingisrelativelyhigh.Investibilityratingishigh.Uncertaintysurroundingtheprojectisaectingits Bbb [80~85) investmentvalue,Theprojecthasmid-terminvestmentvalue. Overallratingisrelativelyhigh.Investibilityratingisrelativelyhigh.Uncertaintysurroundingtheprojectisaectingthe Bb [75~80) investmentvalue,Investorsneedtocloselyfollowtheprogressandtheoverallmarketandadjustpositionsaccordingly.

Overallratingisrelativelyhigh.Investibilityratingisrelativelyhigh.Uncertaintysurroundingtheprojectisaectingthe B [70~75) investmentvalue,Investorsneedtocloselyfollowthedevelopprogress,theoverallmarketanditsrivalstoadjust positionsaccordingly. Overallratingismedium.Investibilityratingismedium.Thetokenpriceisdependentonthemarketconditionand Ccc [65~70) positivenews.UncertaintysurroundingtheprojectisseverelyaectingitsinvestmentvalueInvestcautiously.

Cc [60~65) Overallratingismedium.Investibilityratingislow.Ithaslittleinvestmentvalue.

C [50~60) OverallratingisrelativelySpeculative.Ithasnoinvestmentvalue.

D <50 Overallratingislow.Highlyspeculative.Ithasnoinvestmentvalue.

6 DPRating.com RiskMetrics

First Total Seconddimension Thirddimension Details Points Grade dimension points(%)

Whitepaper Haswhitepaper 1

Basicinformation Socialmediaand Hastelegramandtwitterascommunication 1 communicationchannels channels Github Privaterepository 1 Veriableandverydetailed(throughLInkedin, Teamsrecords 1 Transparency ITJUZIorotherchannels) 52.63 C Full-timeorpart-time Someemployeesarepart-time -1

Coreteam Operationtime 3-6months 1

Hasanphysicalentity? Yes 1

Changeofteam NochangesHasexpandedtheteam 1 Teammembers Teammembers Informationisauthentic 1 experience experience Industryresources Industryresources Industryresourceisauthentic 1 Authenticity 63.16 Cc Popularity Popularity Authenticpopularity 1

MarketingandPR MarketingandPR NoexaggerationinMarketingandPR 0 Ratioofpriceineach Ratioisreasonable 1 Fundraising round Ratioofthetotalfunding rounds Ratioisreasonable 1 ineachround Lock-upperiodisreasonableconsideringthe Teamlock-up road-map 1 Lock-up

Fundraising Investorlock-up Lock-upperiodisreasonable(3to6months) 1 and 84.21 Bbb compliance Budgetdisclosure Budgetdisclosure Budgetisdisclosedbutambiguous 0 Additional Additionalissuance Additionalissuanceareasonablerange 1 issuance Fundsupervision Fundsupervision Fundsupervisionbythirdparty 3

Regulation Unlikelytoberegulated 1 Compliance KYC ReasonableKYC 1 Estimatedmarket Adjustable EstimatedMarketcap Adequate 0 cap Total 18

Rating Medium

Rating Risklevel Description

Excellentperformanceineveryindicator. A Verylowrisk Projectiswellillustrated,Teammembersexperiencesareauthentic,Completionlevelishigh. [25-30] Progressconformstheroadmap,overallriskislow.

B Goodperformanceineveryindicator, Lowrisk [20-25] Riskisrelativelylow.

C Averageperformanceineveryindicator,noapparentshortage. Mediumrisk [10-20] Riskismedium.

Lowperformanceincertainindicators. D Apparentshortageinsomeindicators,Uncertaintysurroundingtheprojectisseverelyaectingitsinvestment Highrisk [5-9] value. Risklevelishigh. Verylowperformanceincertainindicators. E Theprojectshasnumerouspotentialrisks,e.g.negativepastrecords,exaggerationorfraud. Veryhighrisk [<5] Theprojectsprospectisveryuncertain. Likelytofailorbeascam.

7 DPRating.com E. LegalNotices

Limitations and Disclaimers This report is a cryptocurrency research analysis report produced by the DPRating team. The information opinions in this report are for the reader's reference only and do not constitute investment advices to the readers, especially individuals or institutions prohibited by local laws and regulations, to buy and sell the cryptocurrency. The information in this report is based on published information that we believe to be reliable, and the DPRating team does not guarantee the accuracy or completeness of the gathered information. Such information and opinions do not take into account the specific investment objectives, financial situation and specific needs of the persons who obtained this report, and do not constitute financial advices to any person at any time. Report readers should independently evaluate the information and opinions in this report and should consider their investment objectives, financial situation and specific needs. The DPRating team does not provide tax, accounting or legal advice to clients. The DPRating team and/or its affiliates are not responsible for any consequences arising out of or in connection with the use of this report. The opinions, assessments and forecasts contained in this report are only the opinions and judgments issued on this report. These opinions, assessments and forecasts can be changed at any time without notice. At different times, DPRating may issue research reports that are inconsistent with the opinions, assessments and forecasts contained in this report. Authors of the report may participate in this report to discuss and discuss catalysts or events that may have a short-term impact on the price of digital assets covered by this report. This short-term impact may be contrary to the analyst's published target price expectations for digital assets, and the results of the relevant research discussions are different and do not affect the analyst's fundamental rating of the cryptocurrency under his or her research. DPRating analysts may verbally, or in writing, share opinions and recommendations different from this report based on different assumptions and criteria or use different analytical methods. The DPRating team does not have the obligation to update all comments and suggestions to all recipients. The data quoted in this report represents past performance unless otherwise stated. Past performance should not be used as a predictor of future returns. We do not promise or guarantee that any foreseeable analysis will be achieved. The return forecasts made in the analysis may be based on corresponding assumptions. Any hypothetical changes may significantly affect the predicted return. This report is provided to a recipient who capable of independently assessing the investment risk and exercising an independent judgment on the investment decision. Any investment decision should be made independently by the investor based on the opportunity, risk, market factors and other investment considerations of the potential investment. The relevant professional analysis report issued by the DPRating team does not recommend any buying or selling activity to the investor. Investors should contact DPRating team [email protected] directly if they have any questions about the DPRating team research report. The copyright of this report is only owned by the DPRating team. The source and individual are forwarded and quoted. Any organization or individual may not publish or change the content without permission from DPRating.

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