Icoindex Becomes Baserank
After 2 years from our public launch, the crypto space has evolved tremendously. Icoindex is now evolving to the next stage as well. We are introducing a better and more scalable solution.
Long story short
Our mission has always been to warn investors about scam ICOs and help people find the next crypto unicorns. Along the way, we managed to debunk a lot of ICO scams like Bitconnect, Beth, Monkey Capital and many others. We also helped our fellow investors discover amazing projects which generated interesting returns. (Sorry for bragging 🤐)
When we started icoindex, the crypto space was much smaller. The space grew from several token sales throughout the ICO bubble of 2017 into a whole blockchain/crypto movement. In our first stage of icoindex, as the name suggests, we focused on Initial Coin Offerings (ICOs). As the whole crypto ecosystem grew much larger, our focus has became wider as well. It is no longer only about ICOs.
Cryptocurrencies, platform tokens, utility tokens, security tokens, stablecoins, natural asset tokens — we call them all in general “Crypto Assets”. Each crypto asset has a unique set of features. Many blockchain related projects and businesses have created their own crypto assets as a way to incentivize more people to join/participate/invest/mine/contribute.
Quite frankly, we think that more than 95% of crypto assets will not exist in 2 years. However, those crypto assets that will survive, might have an enormous impact on our lives in one way or another.
Crypto assets — anything of value that can be transferred between two parties without a central authority. The ownership of crypto asset can be proved exclusively cryptographically. All crypto assets must have verifiable creation of additional units and all related transactions must be recorded immutably on a public blockchain.
The whole crypto asset ecosystem is growing beyond most people’s expectations. Thanks to tokenization of assets the ecosystem will become an alternative to the traditional financial markets. Businesses will be able to issue tokens that represent the stocks or bonds and sell them directly to investors. Investors will buy tokenized stocks, tokenized bonds, tokenized ETFs, and other tokenized financial products. We predict that more people will own crypto assets than traditional financial instruments.
If you share our vision for crypto assets, please click and hold the clap button 👏 50 times.
Giving investors unlimited access to so many investment opportunities is a good thing for financial freedom. However, as we all know from the past, uninformed investors are more prone to being victims of fraud. Therefore, investors need access to a simple and reliable source of investment information. All people should know beforehand the real risks and quality of crypto assets they are purchasing.
Everyone wants to know which crypto assets are going to survive and thrive.
Today we are announcing the release of a new platform. We are building a crowdsourced — based platform where experts can express their opinion about the quality of crypto assets. We will collect the knowledge from all reputable people from the crypto space. Whether you think you found the next crypto unicorn people should know about or you would like to express your opinion about a useless ERC-20 token — send us an email to firstname.lastname@example.org. We might include you in the next batch of analysts.
Sign up here to get early access to the Crypto Assets Reviews Platform
Baserank aims to address these 3 concerns:
- Most investors cannot quickly and thoroughly evaluate potential investment opportunities. The investment industry is full of fraud and bad investment offers. Investors need to do extensive research prior to any investment. It is very difficult and time consuming to do a deep dive analysis for every single project.
- In traditional financial markets, analysts and rating agencies who should be providing a reliable evaluation of the quality of bonds and stocks. However, the incentives of analysts and rating agencies are often not aligned with investors. Therefore, the ratings are often outdated, not accurate and in some cases totally misleading. Their ratings do not cover all investment opportunities. Despite all these problems, credit rating agencies — S&P, Moody’s and Fitch have a 95% market share forming an abusive oligopoly that harms the whole investment industry.
- Businesses raising money, require some form of third-party evaluation in order to earn credibility and attract investors. The problem is that if they pay an analyst or rating agency directly, the incentive is to give a positive rating regardless of the actual situation. Savvy investors are aware of this problem and already stopped paying attention to most ratings. Businesses end up paying enormous fees to credit rating agencies, investment bankers, and brokers to help them sell the assets the business is issuing. (Assets = stocks, bonds, tokens). Most free “investment information” comes from the “sell side”. Relevant “buy side” investment information is locked in investment funds and is hard to sell to other investors.
In short, the market of credit ratings and investment information is rigged. We are here to fix it using Baserank.
- Investors have access to reliable investment reviews about investment assets without having to do extensive research on their own. All reviews are based on extensive research done by independent analysts that contribute their knowledge to the crowdsourced investment reviews platform.
- The key value proposition of Baserank is that it aligns the incentives of analysts with the interests of investors. Analysts have the goal to evaluate positively good investable assets and evaluate negatively the bad and potentially fraudulent assets. Doing this right will increase analyst’s reputation and the analyst will be able to monetize his or her extensive research.
- The system serves as well as a platform for asset issuers that want to be evaluated by reputable analysts. Businesses will learn what they should improve in order to attract more investors. They will gain exposure to investors. Fair game for businesses raising money that prefer long term investors over short term speculators.
How does it work?
Crowdsourcing investment knowledge is a way how to get the most reliable information directly and instantly from analysts to investors. Companies issuing new crypto assets can have their issued assets continuously evaluated by independent analysts and attract potential investors. This creates an ecosystem where all three parties have aligned interests and we create a win-win-win situation. Investors, asset issuers and analysts all gain what they need.
The platform works like this: Analysts post reviews and ratings of crypto assets. Asset issuers get their issued assets evaluated by independent analysts. Investors access reviews and ratings and choose which analysts to follow and trust. Analysts are continuously scored based on their reputation, reviews quality, rating accuracy, attention and commitment to the platform. Analysts receive ranks and badges which indicates their trustworthiness.
Analysts can choose whether they will publish their reviews for free or as premium content. Investors pay a subscription fee to unlock premium reviews. Majority of the fee is then distributed to analysts based on the attention each analyst receives from investors.
Asset issuers can incentivize analysts to evaluate their asset by paying a fee for securing reviews from analysts. This fee is proportional to the amount of funds the company is raising or its current market capitalization. Again, most of this fee will be distributed to analysts that have contributed a review to the specific asset. The fee is distributed to analysts based on the attention the review has received from investors.
What comes next?
Once we are certain that the model works, we are planning on getting necessary licenses for a fully regulated investment rating agency. Our goal is to create a decentralised autonomous rating organization. The role of this organization will be to crowdsource the knowledge about all potential investments and monitor the space for any potential scams.
If you are a project founder and you would like your project to be reviewed by independent analysts send us an email to email@example.com
If you are an experienced analyst who would like to publish reviews, send us an email to firstname.lastname@example.org
If you are an investor interested in what we are building, send us an email to email@example.com
PS: If you love what we are building, please click the clap button 👏 50 times, share this post with your friends and write your thoughts in the comment section below😉. If you have any suggestions for improvements, send us feedback to firstname.lastname@example.org.