Over 100 new cryptocurrency coins enter the market every day according to a recent blog post from Hayden Adam (creator of Uniswap) - some go to the moon, most don't.
While overall the adoption of cryptocurrency is growing, and many are making their fortunes; more are being taken advantage of through an asymmetry in information - quite simply, they don't have the right information to choose where to put their crypto.
Many stick their toe in the water and buy Ethereum, Bitcoin, and the 'major' coins, but this isn't where the largest portfolio growth is found.
At finance.vote we saw this play out far too many times, new crypto users buying new coins, which are in low quality forks or just exit scams (or, “rug pulls”) waiting to happen. The information presented to users is either non-existent or just so technical the average user can’t understand it. At least the 2017 ICOs had whitepapers.
Elsewhere, “calls” and information are scattered via word of mouth through telegram groups, WhatsApp groups, or even worse, unsolicited DM's on Facebook Messenger.
What this leads to is some people having the “right” information; some people who think they do (fake news is big in crypto too), or looking at smart contracts they have no way of deciphering it all.
In other markets there are solutions; even in Forex you can 'copy trades' from traders that know what they’re doing, and the stock market has similar solutions, as well as other financial instruments to mitigate risk. With the pace that crypto moves at you need something truly innovative (yet surprisingly simple), which is the key to fixing the knowledge gap between crypto traders.
At finance.vote we've developed a decentralised platform that democratises information in the crypto space. We keep it simple - our users vote on whether they think new coins are going to perform well or not. They do this with the information they gather from the scattered information sources mentioned earlier or their own techniques, and they are rewarded for correctly predicting coin movements.
This is where it gets interesting; over time, higher-performing users are given more 'weight' on their vote; as we realize their reputation. Our algorithm then consolidates these votes into simplified predictions and gives our users an accurate picture of the future potential of a coin by aggregating our users knowledge.
TLDR: finance.vote is a platform where users vote on the potential of a coin, and are rewarded for correct predictions (users are earning up to 8X their gas costs currently). Over time, high performing users' votes get more weight in our algorithm; and it allows us to provide our users with information that you can’t get anywhere else in crypto.
There's more to it - we’re building a whole suite of consensus apps for DeFi.
Jump into our Telegram group to have first access to our exclusive rewards programs. t.me/financedotvote