This is Web3! Money flows like anything here
Another one !
So much of money, so much shine, so much news, so much craze! Well, this is what the world of Cryptocurrencies looks like... and what I just showed you was barely even the bottom of this mountain!
Well, this all seems amazing on tv screens but when it comes to an average man, the story says something different !
What you see above is just one example of what are the sentiments of people about crypto space.
Well, that is a problem! A major one...
So, we began searching... A lot of google searches, twitter & discord stalkings, & what not! But what we found out was just disheartening!
What once seemed to be a hope of power of the money given back to the common people has now turned into a trap hole for most!
For 1 authentic token on an average there are around 2-3 ponzi tokens existing in the crypto market!
And bang! We found the cause of this decreasing positive sentiment among newbies. It's the fear of losing money, the exorbitant risk associated.
So, we developed a solution! A pretty good one to be honest...
Pkease let me introduce you to ProFi! - The one stop platform for all your crypto trading needs!
We give you scores, yes you read it right, Scores, and we give them out of 10!
Higher the score, more safer is the token.
Well, we use maths. Agreed it was a bad joke!
We sat down with 34 tokens ranging from utility tokens to meme tokens, we tried incorporating all of them & we crunched upon their numbers.
What numbers you ask? Well, they include financial data, social data as well as security data to calculate the score. We then assign weights of 1 or 2 to each parameter to get the final number.
We have a lot more for you to read on this
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Well, the show begins with The Graph . We deployed a subgraph of our own to fetch the financial data of different tokens & use them for analysis.
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Then we started analysing data to deduce patterns & figure out patterns affecting the prices & safeness, volatility & market sentiment.
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To make that data public for everyone, we deployed that data on Web3.storage.
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We also build our app on FVM!
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But we need to constantly update the financial data so we also deployed it on Tableland
- We faced problems in data collection. We couldn't find a subgraph for it so we had to create & deploy our own.
- We also faced problems in analysing the parameters & assigning appropriate weights to them.
- Backtesting took around 1 complete week. That took a lot of sweat!