The DeFi industry has become a focal point in the cryptocurrency space, and ever since last summer, it’s hard to ignore it anymore.
The value locked in various protocols continues to increase as more and more people realize the merits within a trustless, decentralized financial infrastructure.
Yet, it’s undeniable that DeFi is still at a very early and rather nascent stage, meaning that there’s plenty of room, even more so – plenty of necessity, for infrastructure projects and community builders, if it is to grow.
This is where Coreto comes into the picture.
What is Coreto?
Coreto is a community-governed ecosystem, intending to bridge the interaction between various projects, pools, investors, traders, and so forth. All of it is based on a comprehensive trust system that benefits everyone involved.
The platform is the lovechild of Iustina and Vlad Faraon – tech-savvy entrepreneurs with eyes on the future.
Coreto represents a reputation-based, tokenized platform that’s intended to disrupt the way projects, as well as influencers, are looked at. It aims to generate and further aggregate knowledge about various blockchain-related projects in a platform that’s well organized and easy to use.
The goal is to educate, as well as to provide means of further exposure. It will contain verified information that users will be able to rely on when it comes to determining the trustworthiness of all content creators and influencers,
In doing so, the platform tackles a few important and pressing issues that are riddling the space as of yet. These include, but are not limited to:
- Lack of reliable sources to follow
- Fear of losing on your investment
- Low level of financial literacy.
- Lack of experience and education in the market.
Expanding on the above, Iustina Faraon told CryptoPotato that:
… the features that will be the ingredients of [the platform] are: SOOP (staking of opinion pool), rumours stack which aims to end coordinated FUDs, direct access to experts, one on one mentoring, and my favorite: Gamification. Of course, that’s not all. We will continue to optimize and innovate our platform because just like technology, we seek to constantly evolve.
So What Does Coreto Bring to the Table?
Here are a few of the core components of the platform that add to its value proposition.
Secure and DeFi Powered
It takes advantage of powerful data encryption, as well as blockchain-based data accuracy and privacy.
At the same time, it integrates various DeFi features such as staking, for instance, but it also enables direct trustable pool raises.
Coreto intends to provide the proper incentives to stimulate and to further encourage high-quality content creation. Given that competition amongst analysts and traders is at high levels, this offers the opportunity to challenge peers to competitive confrontations.
Machine Learning and AI
Through complex ML and AI algorithms, the platform will be able to provide insights into the interest of investors, market trends, segmented statistics on relevant metrics, as well as crowd sentiment. The end result aims to be a native prediction system that will be free to use for each and every user of the platform.
Unrivaled Access to Experts
Platform users will be able to take advantage of private consultations with the people they follow for additional insights and means of appreciation.
This is especially important in the nascent cryptocurrency industry, where the bridge between those in the knows and newcomers is tremendous.
In any case, education is becoming increasingly important, especially in the growing DeFi field. One of the main challenges of innovative solutions such as Uniswap’s automated market maker and DEX is to onboard users with no experience due to complicated and rather unfriendly user experience and interface compared to traditional tools.
With this in mind, platforms such as Coreto, aiming to bridge the gap and provide more easily and readily accessible information to the user, are a step in the right direction.
Going forward, Coreto has already launched its Alpha release whitelisting. Speaking on the matter was the co-founder and CEO, Iustina Faraon, who said:
In this first release, we’re focusing on testing and improving our SOOP (Staking of opinion pool) algorithms, also giving our early adopters a head-start with getting familiarized with the concept.
The Alpha version will open its gates only for 500 users that have already started to reserve their spot on our website. These 500 users will be the early adopters and the ones who will help us reach the next milestone with Coreto.
What users will be seeing and testing right now is not even 10% from what we plan with Coreto.