MAGOS - Oracle based on Artificial Intelligence (MAG)

coin2017 (25)in #cryptocurrency • 7 years ago

MAGOS will be generating profits by applying forecasting to various domains on multiple platforms. All the profits will be transferred into the Ethereum smart contract with the following distribution:

85% to the token holders
10% re-invested back into the MAGOS fund
5% used for the operating expenses

The new token functionality in the MAGOS:Initiate release will allow token holders to vote on profit distribution changes.At the beginning stages, the MAGOS will operate on sportsbooks and conventional prediction markets.In early 2018, MAGOS will expand to Decentralized Ethereum-based prediction markets, like Gnosis, Augur, and Stox.Going into the second half of 2018, and the release of a Melonport, a new decentralized version of MAGOS fund will be deployed on the Ethereum blockchain. By using Melon protocol, we will be able to setup a fully auditable and transparent fund, with the open performance tracking. This type of a fund would allow to translate the accuracy of MAGOS forecasts into the reputation growth of the fund in the prediction market and asset management space.Our main focus in 2019 will be the release of Oraculum portal. It will allow everyone to purchase limited usage rights to MAGOS, and apply it’s forecasting power to the events of their choice. All payments will go into the profit smart contract and distributed accordingly.