ELY Token Utility and Transparency Through the CryptoVerse Platform
The launch of the new cryptocurrency listing platform CryptoVerse will provide a new outlook on the blockchain industry. The platform focuses primarily on transparency by helping to clean up fraudulent activity, mainly with projects and advisors, by using a combination of an extremely strict due diligence process and the voice of the community to recommend certain projects or advisors that may appear to be a bit shady to undergo the due diligence process. This is the general concept of the platform. However, there are various aspects that detail specific topics, and even provide services for projects that successfully list on the platform.
Perhaps one of the most overlooked aspects of CryptoVerse will be the creation of a powerful utility for our native token, ELY. As many of you know, CryptoVerse is powered by Elysian, meaning that the Elysian team controls all aspects of CryptoVerse, despite the fact that the platform is independent from Elysian. Users will have the ability to sign up on the platform to have access to many different features, including but not limited to:
*Rating Projects
*Rating Advisors
*Using Services
*Recommending Illegitimate Activity
*Up-to-date Blockchain News
CryptoVerse members will be capable of participating in activities such as airdrop and bounty campaigns, to name a few, for projects that are listed on the platform. In order to be eligible to participate in these campaigns, users will be required to hold a specific number of ELY to facilitate the participation in such programs. This amount is not yet determined but the details for this are currently being worked on. This will actually give CryptoVerse members a brief introduction to Elysian and also incentivize them to hold a small amount of ELY in their wallets.
One of the main factors for the aforementioned decision to implement a small holding of ELY in order to participate in these campaigns is that we are very familiar with what it takes to run both a bounty and airdrop campaign, and it is not the cleanest system that you could imagine. Anytime tokens are given out for free, you will attract at least an average amount, if not more, of fraudulent activity from the public in an attempt to acquire more free tokens. This is usually done through the creation of multiple fake accounts on Telegram and filling out multiple typeforms. Elysian was well aware of this throughout the process, and in our own airdrop and bounty campaign we postponed the release of the tokens to specifically address this issue by making all duplicate accounts and typeforms ineligible for the token distribution. This was done to make a statement to the public not only that we stand for transparency at both Elysian and CryptoVerse, but that we want to spread this knowledge and this strategy to the rest of the industry to hopefully influence many other projects and persuade them into doing something similar.
We understand that improving transparency in aspects such as airdrop and bounty campaigns are just minor details in the grand scheme of things, but the objective is to address all of these small issues until almost every issue is resolved. In this case, it helps to clean up campaigns for future projects and provides a nice utility for ELY. We also have two more ideas for the use of ELY that will be very exciting for the public through CryptoVerse which will be revealed shortly!
In short, it is a long process to clean up the industry and to change the way that many outsiders feel about cryptocurrency, but the process has to begin somewhere. We aim to make an immediate impact that will have a snowball effect for the rest of the community. The ultimate goal is to eventually bring more people into the industry and generate more awareness to how amazing and revolutionary blockchain technology actually is, and how it can change the world if it is given the proper chance. After all, we wouldn’t be in this industry if we didn’t believe that, right? So we urge the readers to help become an active part of the Elysian and CryptoVerse community and promote transparency, responsible behavior, and report fraudulent activity, whether it be on any social media channel, fake news, a project, an advisor, and more. The best way to make a lasting impact is to grow the community so large that this type of information is discussed and released everywhere. Then, we will achieve exactly what we are looking for, and what the industry so desperately needs.
Join the revolution. The revolution of transparency.
We are CryptoVerse.
About Elysian:
Forum https://forum.elycoin.io
Website https://elycoin.io
Telegram https://t.me/elysian_ely
Whitepaper https://elycoin.io/whitepaper/english
Reddit https://www.reddit.com/r/Elysian_ELY/
Twitter https://twitter.com/Elysian_ELY