ICO scam protection
We are developing a social network for crypto investors, asset managers and ICO-projects. Our main idea is to collect all ICO-market participants in one space and obtain a scale effect. Based on this effect, we are going to create services that allow users to trust each other and to provide protection from scam-projects.
The social network’s main audience is crypto-investors, and we offer the following advantages for them:
- Service of scoring and scam protection
- Successful asset managers and the opportunity to transfer assets into trust management
- A large number of useful materials and familiar and convenient interface
How it works - scam protection
There are some general methods of scam protection that are used in financial world. Basically, it is a Due Diligence method that consists of a complex investigation of the project and its founders. In the case of ICO, this method is not applied because of its cost. In other words, it is unprofitable to pay $ 30-50K for Due Diligence and to invest $ 5-10K in the project.
That’s why we are creating a platform that unites many crypto-currency investors. Thereby, there is a large turnover of investment funds appearing on our platform. And just 0.5-1% of this turnover allows to fully maintain the infrastructure that filters out ICO scams.
As a result, everyone wins. Investors feel safe knowing that their funds are reliably protected. Honest projects get quick access to money, increased confidence among investors and the minimum cost of ICO conducting. The platform gets a commission for the services provided.
How it works – transfer of money into trust management
To succeed in investing, actually, checking the honesty of the projects is not enough. That’s why prospects of the projects need to be evaluated. However, an individual evaluation takes a lot of time and requires non-trivial skills. And that is not the option for everyone. The solution is to transfer money into trust management professionals and receive the passive income.
In this case, the crypto-investors should be confident in the manager's skills. And the best proof of professionalism of a manager is a reliable history of past results.
Our project allows you to create such a story. Managers link the wallet to the profile and verify each transaction. We monitor the dynamics of assets and reflect it on the chart. We do not allow managers to demonstrate non-existent profitable transactions or to hide the information about unsuccessful investments. This creates a reliable story that gives investors an objective information and allows them to choose the most effective manager. Furthermore, we create special smart contracts that ensure honesty and transparency of cooperation.
How it works - content and social network
The consolidation of all participants of the ICO-market takes place on the base of a social network that has a standard structure - profiles, private messages, news feed, etc. And standard functions - writing posts, searching by various criteria, a following system, etc.
Thereby, users of the social network can communicate and interact in a familiar space. Moreover, escrow-services built in the platform and some other offline-services allow participants to trust each other.
In fact, it is easier to show the interface of the platform than to describe. And we will do it in the nearest future.
Release date
A beta-version of the social network will appear within a month and a half or two months. Scam-scoring of the projects will appear after reaching a critical mass of users and attracting initial investments.
Contacts
You can follow the progress of the project on GitHub. Social media channels have not yet been conducted, as all the forces concentrated on the development of MVP.
For all questions, please, contact us in Telegram @iyufedotov. We will be grateful for any feedback including constructive criticism.
That’s all. Thank you for your attention!