Vertex: A Blockchain-Based ICO Vetting Platform
This is my entry for the sponsored writing contest organized by @monajam. You can find the contest here
Source: Vertex Facebook
Preamble
It is apparent that the cryptocurrency and blockchain ecosystem are growing exponentially. This growth bring about a phenomenon called initial coin offering (ICO). An ICO is a fundraising mechanism in which new projects sell their underlying crypto tokens in exchange for bitcoin, ethereum etc. There are hundreds of ICO projects which gave opportunities to investors who expect profits.
There are few, if any, restrictions on who can participate in an ICO and since money is taken from global pool of investors, the money raised in ICOs can be huge. Another fundamental issue with ICOs is the fact that most of them raise money before product. This makes the investment extremely speculative and risky. Finding ICOs with real project and credible team is another problem.
It is now a difficult task for investors to decide which ICO to invest among the hundreds of ICOs. Vertex Martet is the solution.
What is Vertex Martet?
Vertex is a blockchain based platform which evaluate and validate the ICO projects. It gives investors the opportunity to invest in only real and verified projects which increase their chance getting profitable returns from the investments. Since many great tokens doesn't reach the public as they are sold during private sale vertex will provide investors with the opportunity to buy such tokens after sale under favourable conditions.
Vertex is creating the first market of its kind and a unique token that combines trading, venture capital experience, and fair-value based tokenization. Vertex will create a financial ecosystem that will ensure a high-end, profitable market for investments in cryptocurrency, through its platform. Vertex offers the first aftermarket for ICO’s, which will provide investors with strong opportunities to get returns and bring more fiat resources into cryptocurrency markets, by attracting capital through the ICO vetting mechanism Source: Vertex website
How does Vertex evaluate ICO projects?
Vertex evaluates ICOs by following a 6-steps procedure. The Vertex team will meet the ICO teams directly during this process. The 6 steps are:
- Gathering data on the ICO
- Gathering data on the ICO's team
- Analyzing the data gathered
- Checking the validity of the team’s claims
- Conducting financial check for the project in question
- Meeting with the ICO team face to face.
After the rigorous evaluation, the vetted ICOs will be published on Vertex website in a ranking order and will receive offers from Vertex.
How does Vertex work?
Investors (users) of Vertex will first sign up/create an account on the Vertex website. They will be required to pass through a KYC procedure before approval. After approval, they can then acquire/purchase Vertex (VTEX) token which will be stored in their respective ERC-20 compatible wallet. Investors can buy tokens from vetted ICOs using their VTEX tokens after their public sale. Users will also have the opportunity to buy tokens belonging to vetted ICOs at a preferential price before they are listed on an exchange.
Users will be able to buy VTEX tokens during the initial token sale using Bitcoin and Ethereum. The minimum amount to purchase VTEX tokens during the initial token sale will be $50 USD or equivalent. The Vertex platform supports utility and security tokens while gambling industries are not allowed.
What are the benefits of Vertex?
The Vertex platform is beneficial not to the investors alone but the ICOs and the crypto world at large.
Benefits to investors.
- Vertex provides an opportunity for investors to access several ICO tokens on a single interface
- It allows investors to choose which ICO to invest their money from the rank of vetted ICOs
- It reduces the risk of ICO investments by bringing only ICOs with robust plans to investors.
- Investors also have the opportunity to buy tokens at preferential prices.
- Vertex also reduces the tasks of registration/KYC process for every single ICO.
- Vertex clears the obstacle that prevent best ICOs from going public.
Benefits to ICOs
- Vertex offers free advertisement for evaluated ICOs on the platforms.
- Going through the vetting process of vertex, ICOs gain more reputation since vertex will give seal of approval.
- ICOs will be accessible to a wide pool of approved investors on the Vertex platform.
- ICOs will also receive consulting services and support from Vertex.
Benefits to the crypto world
Other features of Vertex platform
- OTC (Over-the-Counter) Platform
- Decentralized i.e. no private keys stored on server
- News and Rating, by investors only
- Latest Offering
- Historical performance on past projects we supported
Tokenomics
Vertex (VTEX) Token
Vertex tokens (VTEX) are ERC-20 tokens on Ethereum blockchain. The total supply of VTEX is 300 million and 60% of it will be available for public sale.
Conclusion
Vertex has come to improve the experience of investors in ICO projects. With Vertex investors are guaranteed profits from their investments.
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