In this review we have look at Avinoc and its token. We show you things that you should know before you invest and buy this cryptocurrency.
What is Avinoc
AVINOC is presented as a company that focusses on digitalization, aviation and blockchain. It says that it is working on improving and modernizing the business aviation industry.
The first product should be a digital marketplace in the business aviation industry based on blockchain technology, it is called VOO. The software is supposed to allow people to search, book, manage and pay for private jets directly.
The project uses a cryptocurrency that is also called AVINOC. It is a token in the Ethereum network. You can buy it on decentralized and centralized exchanges.
But should you, is Avinoc legit?
4 Avinoc problems
During our research about Avinoc we found several not so great things that every investor should know about before they reach the conclusion whether to invest and buy token or not. Here they are.
Avinoc as a blockchain project has been around since 2018. It had its initial coin offering (ICO) in July 2018. Back then it was also showing a roadmap that you can see in our picture below.
And time has shown that Avinoc completely failed in following its rodamap. In 2018 the token should have been listed on major exchanges, but it is not listed there even today.
In 2019 software development kits (SDKs) should have been available for developers, but they are not available even today.
In 2019 public real flight data should have been made available by Avinoc but they weren’t. And the question is what is “Total integration into GA”, but nothing on the current Avinoc website suggests that it happened either.
So it looks like that nothing from the original Avinoc roadmap from 2018 happened. The promised things have up to 4 years of delays.
16 years and where is the product?
According to the roadmap above, Avinoc had their first software prototype back in 2006. Which is 16 years ago. It is not clear what stage the development of the regular non-blockchain version of the software reached, but we know that today, in 2022, the blockchain version still does not exist.
Which looks like a serious problem. Avinoc claims they have been developing the non-blockchain version of their software for 12 years, between 2006 and 2018. So you would think that after 12 years of building they already had something very good and that a switch to a blockchain-based version should not be that hard. Yet we are still waiting to see the product.
NOTHING happened for 4 years since the ICO
In 2018 AVINOC sold their cryptocurrency token to the public in an ICO. Back then they promised that they will roll out their own Avinoc Blockchain, the first phase should have happened in Q4 2018. But it did not, to this date.
Even today you will find in Avinoc’s whitepaper the original roll-out date Q4 2018. The whitepaper also provides the link to the official Avinoc Github repository of code, but to this day it is completely empty!
On its official Github account Avinoc clearly states that the network will be open source, the whitepaper clearly states that any code for Blockchain (Core), DAPIs, etc. will be added to the official repository.
But the Github account clearly shows that Avinoc created it on April 12, 2018, and has not touched it since. It is completely empty, no activity whatsoever.
Avinoc was supposed to develop their own blockchain, they had 4 years to do it, but they did not produce a single line of code.
Avinoc staking with Zeniq?
In 2021 Avinoc announced their partnership with Zeniq. They also stated that they will migrate their product to the Zeniq blockchain.
So in 4 years Avinoc did nothing in terms of development of their software and now they are moving this nothing to Zeniq?
One problem is that the Zeniq blockchain is very dubious. Because Zeniq does not have a public code either. There is no public repository where people could check the code, post suggestions etc., as is normal for every blockchain project.
There is now way to check that the blockchain is even running and on what code. You can’t download any Zeniq software to run your own node and see how everything works underneath as is normal with blockchains.
The Avinoc token is just an ERC20 token in the Ethereum blockchain. The Zeniq token is publicly traded as and ERC20 token in Ethereum and as a BEP20 token in the Binance blockchain.
Now the Avinoc token will supposedly by issued as a new token in the Zeniq blockchain. However, since the code of the supposed blockchain is not public, it is not possible for the public to verify that claim.
The Zeniq blockchain is a black box they don’t want you to see inside, so nobody knows what they really do with the tokens, if there can be more tokens issued, if there are any potential backdoors for rug pulls, etc.
Also, cryptocurrency issued as secondary tokens in other blockchains can’t normally be staked because the security of the validation process is ensured with the native token.
Blockchains are all about complete transparency, the source code is always public for everybody to see what is happening and how it is happening. The proof is in the code that anybody can download and run.
Yet Avinoc and Zeniq don’t want us to see their code, if they even have one. Which really is not a good sign.
Avinoc review – Conclusion
Avinoc has been working on its software since 2006 and since 2018 on its blockchain version. Yet it has not delivered a single line of blockhain code, it has failed in almost everything it promised in its roadmap 4 years ago.
Now Avinoc is migrating to Zeniq, which is a supposed blockchain, but we can’t verify it because they refuse to show the code, which is not normal in the blockchain industry.
Therefore it is very difficult to see the future value of the Avinoc token.