6 ways ScaleSCORE brings fairness to the crypto IDO ecosystem
The crypto market is brimming with cryptocurrency projects that claim to solve the problems of Identity over Blockchain, but it’s a mess. The non-transparent process to add a new project is riddled with issues, and the only way to get in on the fun is to buy into one of the projects early, or trade your money for one of their tokens. Not everyone can afford to trade, so if you’re looking to get on the crypto train you’ll need a way to get tokens for free.
Blockchain IDO marketplaces are rife with scams and fraud, and those that most loudly protest unfairness claim to be the most fair. ScaleSCORE is a new Blockchain-based reputation scoring system that we hope will bring fairness to this space.
There are many reasons to use a personal identification number as a part of your daily life. It enables you to keep track of your personal information, and to feel more secure in a variety of ways. However, the number of methods available to you to protect it can sometimes be confusing. A number of personal identification numbers currently exist, and each has its pros and cons. In this article, we are going to provide an overview of the most popular methods, and how they can be useful to you.. Read more about what is ido in crypto and let us know what you think.
The fundamental concept of cryptocurrency aims to provide more equitable financial services to all consumers, regardless of their age, ethnicity, gender, or industry affiliations. It’s easier said than done, however, with certain crypto-related actions matching those of the ‘conventional’ financial sector these days.
Take, for example, Initial Coin Offerings (ICOs) and their younger cousins, Initial DEX Offerings (IDOs). The idea is that investors pay up front for a token allocation for a new project, then get the tokens days or weeks later to trade on the open market. While the idea may seem innocent at first, insiders and individuals with big resources often buy up allocations and force the ordinary investor out of the round.
The inevitability of the IDO season adds to the craziness. Nearly every hour, new initiatives are launched or offered to investors, making it impossible for one individual to keep pace of all developments. And those that investors do manage to keep an eye on may wind up in the hands of a select few (instead of the broader community).
ScaleSCORE comes into play here. ScaleSCORE is a unique loyalty scoring system based on six factors developed by the Polygon-powered fair IDO launchpad to guarantee fairer, transparent, and non-exploitative community involvement in IDOs.
In a recent blog post, the team stated, “We have a big plan to change the IDO landscape to a more sustainable construct, where transparency, authentic quality and substance, decentralized governance, and, most importantly, fair treatment and remuneration of loyal community members are the highest priorities.”
6 ways the ScaleSCORE contributes to a more equitable IDO
ScaleSCORE pays committed community members based on their dedication and loyalty, using six dimensions to evaluate user behavior, with just one of the six aspects being budget-dependent.
This ensures pool participation as well as the unlocking of additional features (such as ScaleSwap’s autopilot function, which will be available in the ‘V2′ version). “In the Scaleswap ecosystem, you can’t purchase power directly – you have to earn your position and privileges over time via your dedication and loyalty,” the company says.
The table below depicts all six dimensions that, when added together, form the individual ScaleSCORE. The conditions specify the minimal requirements for earning points and the level at which you may earn the most points.
Image courtesy of ScaleSwap.
As you can see from the third column and the graphs/ formulae that follow, the score is determined not in a linear manner, but rather using an individually customized formula for each dimension to enhance the appeal and therefore the personal ScaleSCORE ranking.
Apart from SCA token ownership, it is critical to purchase and retain the tokens for as long as feasible (i.e. acquiring the tokens as soon as possible and not selling them).
Providing liquidity for SCA at Uniswap or Quickswap is another highly effective way to improve your ScaleSCORE (min. 100 USD in value at the time of ScaleSCORE determination).
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Imagine the following scenario: you have spent weeks or months developing your applications, all the while running on a single crypto IDO platform. Suddenly, a competitor decides to fork your platform, and begin offering the same services at a lower cost or better yet, offering free services in the hopes of destroying your business. Sound far-fetched? The reality is far from it. It is happening right now, and this is exactly why we have created ScaleSCORE, a blockchain-based network that allows crypto IDOs to compete on a level playing field.. Read more about what is an ido and let us know what you think.
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