- Information sources about Crypto market are only focusing on one aspect of the market and current news in a short time. All the things aim to create FOMO, FUD to attract readers' curiosity and navigate their emotion.
- The market lacks systematic information sources, which are regularly researched, evaluated and updated in a long time. Each crypto update or project is subjective by content creators, so readers will lack an overview of how the market is going
- The crypto market is still new to majority of investors. Most of them lack knowledge about blockchain in general and Cardano blockchain in particular. Therefore, they can not distinguish projects which are good or not good.
- Crypto's information sources are not updated continuously. It is too difficult for investors to cover content information sequentially.
- Investors only receive subjective information from content creators, but they lack of interaction between investors and content creators.
- Each individual or teams have different evaluating process . Basically, evaluating criterias are the same, but due to the subjective by each person. Moreover, It will be difficult for investors when they refer to too many evaluating sources.
Here is our detailed solution
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Solution 1:
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Realize the above essential issues. We research and create 6 main criterias:
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Tokenomic criteria
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Coreteam - founder criteria
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Roadmap criteria
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Technical criteria
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Community criteria
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Vision, mission criteria
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Evaluated projects will be set base on these criteria. Group of questions include basic/advance will be written as multiple-choice. and expert questions will be created as essay.
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1 evaluated project includes 4 subclasses as : Overview, Basic/advance/expert questions.
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Overview: The most of basic information comes from Crypto project (100% of investors can do it by themselves).
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Basic review: The <u>10-question Yes/No</u> multiple-choice provides criteria to warn how safety of a project . Through these questions, users can basically identify the risk level of the project to make a decision to research more. This review can be easily completed by an investor with little Crypto's knowledge (Example: 5/10 answears are No choice, the project will be very risky to invest).
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Advance review: These questions are only for who has good knowledge and basic skills about Crypto market. These questions will include <u>20 multiple-choice questions</u> with a rank of mark from 1 to 4 for each question. After completing these questions, the basic quality of a project will be shown by the score. These questions will also make a clear distinction in the score difference between an application layer and a platform or infrastructure layer. Total score of the advance questions are from 65-70 to 80 as a project is evaluated good.
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Expert review: These questions are for who has a deep knowledge about the project,blockchain in general and Cardano blockchain in particular. Initially, we will make a set <u>5 questions as essay</u> with a rank of mark from 1->10. A user must have very good technical, market and general knowledge to be able to accomplish the expert review.
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Scoring structure: Score of Advance questions accounts 70% of the total score. Score of Expert questions accounts 30% of the total score. Final score will be taken an average of all assessments. The final score of the project is shown to the user.
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The quality review will be viewed and accepted by vcoincheck research team members.
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We <u>commit</u> to use information from various sources and select to write content objectively.
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Based on this set of standard criteria as basic/advance/expert questions aim to classify users and create two-way interaction between content creators and users. Through this set of questions, users/investors will distinguish good blockchain projects from scams.
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Each evaluated project will always be updated with relevant information so that a project can be known if a project runs effectively and has a long-term sustainable roadmap or operate inefficiently.
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We will build a community for who loves Cardano blockchain and want to participate in evaluating projects are built on this platform.
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Solution 2:
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<u>Guarantee transparency and objectivity in evaluating projects, community's contribution will be encouraged to join our team.</u> Completing from advanced and expert questions are required good skill reviewers who come from community to participate. Although our core team members have 10 people, we are completely able to complete a large number of assessments, but this the problem we mention above solution 1 which are subjectivity, one-way interaction between content creators and project reviewers.
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Solution 3:
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Problem statement:
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Stage 1(solution 1) is a set of expert questions as essay which is dedicated to experts, have knowledge and experience about blockchain in depth.
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Our purpose spread our solution to community who loves crypto assets. Stage 2 expert questions are converted into multiple choice questions. However, each type of project needs its own set of expert questions so this will take time and need human resources for accomplishment.
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Solution statement:
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We will recruite more experts to participate. We work together to develope multiple-choice expert questions for each type of project.
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The expert group will be recruited 5-10 people and selected from the group of experts who complete expert question as essay in stage 1(solution 1).
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This group of experts must pass a blockchain knowledge test that consists 50 questions and the total score must be higher > 180 points.
Our solution is the first step to create a decentralized quality evaluated project platform as we outlined in the proposal at fund 7. The improvement of the project quality evaluation criteria set. The project will help users easily, quickly to assess a project' quality. Our plan is going to evaluate 50% of total projects which are built on Cardano ecosystem. The plan will help Cardano to reach massive of users. Users, who love Cardano, will understand projects that are developing on the Cardano ecosystem. Users, who do not know Cardano, can easily research Cardano through our website. For example, a user is interested in a project that is not part of Cardano ecosystem but that project is evaluated on vcoincheck website. Furthermore, if they join vcoincheck.io, they will find information about Cardano.
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The solution creates a group of expert reviewers in order to help community to gain more confidence in professionalism, quality and objectivity of content wil be posted on the vcoincheck website. Our core-team also comes from Cardano lovers, and we seriously research and evaluate the quality of projects. We believe that this solution will be getting stronger in long term. Our solution is matched Cardano's mission and vision that are decentralized, transparency, objectivity.
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It is not easy to recruit experts who have good analytical skill and in-depth knowledge and experience about blockchain.
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Our purpose recruits at least 5 experts to work together in order to develope expert quetion as essay
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Each of experts has aspect of view about evaluating projects so our challenge is able to unify a standard format objectively and follow the standard. In order to work together and accomplish expert questions as essay for each of field of crypto projects. For example: projects are built on Cardano that has many field as: DEXs, Lending/borrowing, NFT,etc.
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Create expert questions as multiple choice, we wil start from Defi field firstly because it is centre of a blockchain ecosystem. Expert questions as multiple choice will takes us 3 to 6 months