It’s been a crazy couple of weeks for the finance.vote team. We’ve been inundated with queries, and are building a strong strategic alignment with some big players in the space that give us the reach we want in territories across the world.
We’ve also been busy building. We get more excited about where this goes every day. Our tests are passing nicely and it won’t be long before we want some of you to start playing with us.
We will announce when our launch is going to be very soon. We want Day One Utility. That means we want you to be able to use $FVT the minute you buy it from the public distribution event, but we’re talking weeks not months.
$FVT is a governance token with broad-spectrum utility and one that will give you a meaningful voice in the system. It’s designed for incentive alignment and will be distributed by the system to those who are correct in our voting markets and many other things down the line.
It’s very important to me that everyone has ample opportunity to understand this system before they start playing. So I’ll be releasing a series of blog posts that not only explain the game mechanics but also the broader philosophy of what we’re aiming for. This post is one. Enjoy.
$FVT is Power
Governance tokens are all the rage at the moment and for good reason. They are the key to decentralisation.
Bitcoin is money, there’s no denying that now. Satoshi Nakamoto released a technological system that will, and is, changing the world.
The ability to reach consensus on a shared reality of transaction histories, without the help of centralised institutions, can’t be understated as an important part of technology and potentially even human history.
In Bitcoin, this is all done by automated software. Node operators validate the transactions automatically and miners attest this agreement to a chain of cryptographic proofs that are exceptionally costly to change. The goal is to remove humans from the picture as much as possible.
Bitcoin will always be the granddaddy of the cryptospace. An impenetrable digital fortress designed to keep your money safe. It’s slow, it’s clunky, but you can trust it to do its job.
Ethereum was the next evolution in the space, allowing people to create their own money and direct money flows programmatically using smart contracts.
It’s taken some time for people to find some good uses for that. And even longer to build user interfaces that a wider group of non-computer scientists can use, but they have, and there’s a revolution coming.
The DeFi movement has shown that we can not only make digital money, but manage it too. All without the men in suits that typically do that for us.
Out in the cryptospace, we’re not only doing things like borrowing and lending, which would normally require some trusted third parties, but we’re generating radically new ways of using our new digital money.
As we get more complex in this game, we’re going to need to start to replace those suits with technology. As much as we want decentralisation, it is very difficult to achieve.
What makes this possible is governance.
Governance is the process of making decisions and getting stuff done. It is the way that the direction of a group of people is steered and a mutual benefit is realised for participants in a collaboration.
Normally, this happens in organisations and institutions. Who gets what say, is a question of power.
Power is the ability to get things done.
Up till recently, the power in decentralised tech has been held by developers and miners, but things are changing. The emergence of PoS networks, with stake based governance such as the likes of Polkadot and Tezos have broadened the power base to the token holders.
Even more recently, a new wave of governance systems has emerged in DeFi, where tokens are both financial assets and give users a say in how the system works.
The key to all of this is voting.
At finance.vote we’ve been developing the next generation in voting technology. We aim to give people more say, more power, in the financial systems of the future. At the moment, most of the power resides with a few people with all the tokens, and we need to watch out that we don’t fall into ‘the rich run everything’ phenomenon, that’s so common out there in the real world.
In our vote markets, you’ll be rewarded for your research. You’ll vote on which tokens you think are the best (or worst) and if the market proves you right, you will be rewarded.
In our second layer governance systems, we intend to take DAOs to the next level, integrating our voting technology into our own DAO the DMF (Decentralised Monetary Fund) and our miniDAOs, where you’ll be able to share research and build influence for potentially every token in the space.
In our social trading system, you’ll be able to manage your money with your friends. In fact, because it’s a trustless system, with your enemies. Thanks to our recent partnership with Kira, this won’t just be on the Ethereum DEX space, it will be on every token in the cryptospace.
finance.vote is the consensus layer for DeFi and the $FVT token is power in our system.
We aim to give you more power than any other network out there. You won’t just build influence in our system, but your power will extend to others too.