• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Company News

Finance.vote Holds FVT Airdrop as DeFi Prediction Market Takes Off

Thomas Delahunty by Thomas Delahunty
1 month ago
in Company News
Reading Time: 3min read
finance.vote
Advertisement
Listen to Article

Finance.vote, the governance layer for DeFi communities, is conducting a series of airdrops of its FVT token to onboard a new wave of users. Participants who claim their free tokens and use them to mint a voting identity can engage with the platform’s prediction markets, earning reputation and voting power for correct calls.

The finance.vote platform uses a quadratic voting system, which has famously gained significant attention from Vitalik Buterin, to support decentralized governance. This ensures that token-holders can cast meaningful votes, whatever the size of their stake. In the finance.vote system, participants who make correct DeFi market predictions will earn a share of the weekly reward pool.

Reimagining Prediction Markets

Prediction markets differ in several key ways from betting markets. Aside from the former’s decentralized architecture, as popularized by platforms such as Augur and Gnosis, the emphasis with prediction markets is on sourcing the wisdom of the crowd. Moreover, prediction markets incentivize participants for extrinsic reasons and not just financial gain.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

While finance.vote supports DeFi prediction markets, based on the performance of various ERC20 assets, the platform has broader aspirations. By sourcing the wisdom of the crowd, finance.vote aims to become a portal for filling the knowledge gap for new tokens and projects. This will enable DeFi users to separate signal from noise, identify potential scams, uncover fledgling communities that align with their interests, and make smarter trading decisions.

Finance.vote Community Claims Its Free Identity

On December 10, finance.vote collected the ETH addresses of airdrop participants in its Telegram channel before issuing them 100 FVT tokens apiece, with a view to completing several more random airdrops in their Telegram group. After minting an identity using a web3 wallet such as MetaMask, token-holders are able to start voting on prediction markets. The dashboard displays the user’s $V power, which determines their voting power, based on the quadratic voting formula, and displays the time left in which to vote in the current window. They can also view the size of the reward pool, denominated in FVT.

Because the decentralized finance industry is still small, in relative terms, and scattered, information blackholes are inevitable. Few cryptocurrency holders have the time or inclination to scrutinize hundreds of emerging projects each week and to stay in the loop for existing projects. Information asymmetry is endemic, with more knowledgeable traders able to profit at the expense of outsiders.

Finance.vote is creating a more democratic system, in which knowledge providers are rewarded for their insights, while knowledge seekers are given the informational edge they’re seeking. The platform’s prediction market is how finance.vote has gamified knowledge sharing, giving participants who act on their alpha, by placing predictions, the opportunity to earn rewards.

DAO as a Service

A secondary application for the finance.vote ecosystem is to support the creation of ‘miniDAOs.’ Tied to specific tokens and projects, they allow nascent DeFi projects to be guided by their community from an early stage, resulting in greater engagement, loyalty, and more egalitarian decision-making. finance.vote also enables private groups to be established as de facto DAOs, complete with the formation of micro-liquidity pools for trustless trading of tokens. For example, a group of well-connected and influential traders could assemble to share insights, while being directly rewarded for their input.

Be it for the bragging rights or the monetary rewards, in-the-know DeFi users now have a way to put their wisdom to work. Those who are just getting started in DeFi, meanwhile, can view the predictions of more experienced heads who have skin in the game. Join the finance.vote announcement channel to discover details of their future airdrops.

 

TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Thomas Delahunty

Thomas Delahunty

I’m Thomas J. Delahunty, born in Lancashire, England, but raised and currently residing in Columbus, Ohio where I attended The Ohio State University studying English and History. After writing in the Fintech and Forex spaces, I began to focus on blockchain and cryptocurrencies — Bitcoin in particular — in 2016. Aside from being part of NewsBTC’s journalism team, I am a writer and analyst for Ohio State’s Risk Institute at the Fisher College of Business, and run operations for two local, independent online businesses.

Related Posts

Finlaw Associates to Submit Draft Cryptocurrency Regulation to Indian Govt as Community Demands for Clarity, Mr. Mishra Explains

Finlaw Associates to Submit Draft Cryptocurrency Regulation to Indian Govt as Community Demands for Clarity, Mr. Mishra Explains

13 hours ago
btcu

The Brilliant Minds Behind the BTC Ultimatum Project, and Their New CEO, Eric Ma

2 days ago
Can Blockchain Help Enterprises Navigate GDPR Headaches?

Can Blockchain Help Enterprises Navigate GDPR Headaches?

2 days ago
etoro

eToro Nudges Investors Towards Crypto Trading as They Consider Portfolio Diversification

4 days ago
5 Projects Bringing Institutional-Grade Products to Crypto

5 Projects Bringing Institutional-Grade Products to Crypto

5 days ago
RAMP DeFi Leads The Liquid Staking Race, Opening Ethereum-Based DeFi to Staked Liquidity From Other Blockchains

RAMP DeFi Leads The Liquid Staking Race, Opening Ethereum-Based DeFi to Staked Liquidity From Other Blockchains

6 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Cryptowisser Releases Report on Exchanges With Lowest Fees

January 22, 2021

LABS Group Announced Strategic Partnership with Centifuge to Provide DeFi Collateralized Property Backed Lending

January 22, 2021

Jump-starting Crypto Adoption: Aurix IEO Scheduled for January 21st on ExMarkets!

January 22, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.