Coinend has announced the launch of its cryptocurrency gamified platform. GPC DIGITAL S.A operates this cryptocurrency-based gamified prediction portal, a corporation incorporated in Panama. It allows users to predict the closing price based on hourly, daily and weekly prices of various cryptocurrencies, with a reward for all participants.
In a statement by the CEO, Godspower Egbetamah, “the company is now set to explore the gamified niche of the cryptocurrency industry and focus on sharing reward for all participants. The pool prize per event is shared by both the winners and the runners-up in each event pool based on a 30% (winners) to 70%(runners-up) sharing system powered by blockchain for transparency”.
In the new announcement, the company is set to provide a platform for users to predict and place bets on future values of cryptocurrency. With this, crypto enthusiasts can come together and predict the value of BTC/USD AND ETH/USD for the closing price of a cryptocurrency with an equal amount of bitcoin token per participant in an event pool. The predicted value in USD of a given cryptocurrency for each event goes into a live event pool, where every participant in the pool gets to see how close their predicted price value is to the current price value until the end of the event pool.
Apart from this, the company is also set to explore the Decentralized Finance (DeFi) aspect of cryptocurrency by providing a platform where users can have access to a loan in a peer-to-peer manner. Decentralized Finance is one of the most quickly growing innovations in financial services which aim for a broader approach of generally decentralizing the traditional financial industry. The core of the initiative is to open traditional financial services to everyone, by providing a permission-less and peer to peer financial service ecosystem based on blockchain infrastructure.
As such, Decentralized Finance (DeFi) is the movement that leverages decentralized networks to transform old financial products into trustless and transparent protocols that run without intermediaries. The core traditional financial service use cases that are currently being revolutionized by DeFi include trading, lending, investment, wealth management, payment and insurance. This is being made possible by blockchain technology, and it is the core of the existence of the company as mentioned by its COO, Victory Onojohwo.
In the case of Coinend, the company will be focusing on the lending aspect of DeFi so that platform users can lend themselves up to 1 BTC and earn a profit (interest) without even participating in a pool event. Worthy to note is that 91.024294 BTC has been distributed between platform users since inception.
With this launch, Coinend is committed to create a transparent community that shares reward among members and drive cryptocurrency inclusion for many. During the announcement, Coinend management board also announced a new website design that highlights how the gamified platform and its reward system is set to work and a new mobile application with a flawless user interface. This will allow participants to easily place bets and see the prize pool on the platform for the currency for which the events are running.
As it is known that a good whitepaper is considered to be the single most important form of business collateral because it drives client acquisition via leads generation, mindshare building, opening doors to new sales opportunities and having 76% of investors used them as part of their decision making efforts. The team also announced a new whitepaper that is professionally rewritten to augment its marketing efforts. This is available for download on the website.
The company understands that having strong management and a proven technical strategy in place is fundamental to its success. As such, its portfolio construct is primarily driven by its focus on the cryptocurrency/blockchain industry as a whole, and this is why only the best brains in the industry have come together to achieve this landmark feat.
The team consists of impressive experts in the cryptocurrency/blockchain niche, professionals in the digital marketing solution niche, and thought leaders in tech that maintain the performance of the company’s reward sharing system so that it can run in a highly scalable environment without issues.
In the coming days, Coinend will start rolling out more information about its activities and reward system to consolidate its position in the cryptocurrency gaming niche and strengthen its portfolio.