Ignite Ratings is a decentralized platform to rate crypto assets and ICOs. Ignite has an trading index worth 2200 ETH and will invest in the highest rated assets by the community. People who contribute in rating process of these assets will be rewarded with 50% of any gains Index will make along the way. Current market cap is around 1M USD and beta of the rating platform launches this month.
This is the most important information that you should now but lets dive in into some details. Cryptocurrency sphere is full of scams, fake news, fake partnerships, hype and FOMO. All of these can lead potential investors to lose their money. Ignite Ratings aims to solve this problem by creating a decentralized platform for rating crypto assets.
But why should it be decentralized and not centralized like all the rating agencies in the traditional investment markets? The answer is quite simple. Centralized ratings are often influenced by wealthy individuals who have their own agenda and goals. Decentralized ratings remove such a possibility and incentivize knowledgeable individuals to share their knowledge and research with others and thus increasing overall awareness of market participants. Imagine a world when it’s a common knowledge that Bitconnect, Tron and Verge are not worthy of our money. Imagine a world where hundreds or thousands of people are researching every ICO and are sharing their findings with the community because there are paid for doing it. That’s what Ignite Ratings plans to achieve.
But how? That’s an interesting topic and Ignite solved it in a really smart way. During ICO stage which ended in February, Ignite funded the main index worth of 2200 ETH. Ignite is going to invest funds allocated in the index in the highest rated assets by the community. Any gains realized by the index will be shared within the ecosystem: 20% goes to company behind the Ignite, 30% is reinvested to the index to ensure its growth over time, and 50% is shared among the community which contributed in rating assets on the platform. Rewards are distributed based on your personal reputation on the platform as well as number of IGNT tokens you own.
Ignite platform. The main aspect of the project is the Ignite platform which is currently in development by the team. This software is the key of the project to succeed and the beta version will be released before end of April. On the Ignite Platform you will be able to review and rate all the crypto assets, keep track of prices and news and even place your own trades in future through exchange APIs. To access the platform you will need to hold IGNT tokens. IGNT tokens serve as proof of membership and act as an multiplier for your rewards for participation in the rating process. The important thing to remember is that IGNT is only meant to be used on the platform and therefore is locked – you can’t move it across wallets and you can’t trade it on exchanges. To avoid being categorized as a security, Ignite uses to dual token system. As you already know, IGNT is used on the Ignite platform but you can exchange it via smart contract for IGNX tokens in 1:100 ratio. IGNX token then can be freely transferred and traded on exchanges (currently available on IDEX but more exchanges are coming soon).
This is my biased opinion and not an investment advice, but I think it’s the best moment to get into Ignite. It has a great potential to change our industry for the better through sharing knowledge about various aspects of the crypto assets but it’s also a great investment opportunity. With constantly growing index the value of tokens will naturally follow. The index will consist of the highest rated crypto assets which has a potential to become a major player in the crypto space. Moreover, IGNT/IGNX tokens are available to purchase on great discount: 0.00105 ETH per IGNT vs 0.00667 ETH during ICO.
Resources:
Website:
https://igniteratings.com/Telegram:
https://web.telegram.org/#/im?p=@igniteratingsICOIgnite YouTube show „Breakfast with Ignite”:
EP1:
https://www.youtube.com/watch?v=_jZnyAV_iRw&tEP2:
https://www.youtube.com/watch?v=ZiicPkyxqGk&tEP3 P1:
https://www.youtube.com/watch?v=CgGZpaPC8mA&tEP3 P2:
https://www.youtube.com/watch?v=ZzRDcU5w8rA&tSee you on the Ignite Platform!
