Catena Investor Newsletter #1 - 2021.03.17
PURE STARTUP - LEADING THE StaaS MODEL - EYES ON THE FUTURE
CATENA (cah-teen-ah) - A connected series or chain.
At Catena, our core values are transparency, excellence, and work ethic unmatched by most. We’ve seen the future, and the future is connected, shared, and interoperable. We have amazing goals and an operating system to build, and we’ve already begun. We thank all of our investors for believing in us and sharing our vision for a connected and global future. What we are building has never been built before. We’re excited you’re here. Let’s go.
We strive to preserve and perpetuate monetary expansion and awareness for both the ICON Network and our investors. Since our inception roughly two months ago, we have successfully launched:
At Catena, we will continue to expand the word of ICON through community outreach, consistent networking and acquiring VC funding to enable future growth surrounding both the monetary value of the ICX coin and in return, our investors' monetary prospects.
It is important to reference that our multimedia artist and developer Matt, has been working tirelessly on a project that embodies transparency, trust and education within the ICON Network. He has successfully designed the Catena website and the Catena Community Forum that encompasses an ICON P-REP Repository, daily cryptocurrency news, altcoin and Bitcoin discussions and so much more. Our community will continue to grow as we expand into other cryptocurrency projects!
ROADMAP - 2021
“P-REPrs” (rATING sYSTEM)
Our first entry into the Icon ecosystem is a fully programmatic and weighted ranking and rating system. Our Founder is a data scientist and has built algorithmic ranking and weighting systems for the Centers for Disease Control & Prevention (CDC), Texas University (specifically for behavior analytics tools), and various other data projects and startups. The ranking system includes a full accounting of social media presence, building activity, engagement in community, funding, movement of funds, and team dynamics.
PURPOSE
It is simply not possible to make an informed decision of which P-REP to stake your ICX with. Institutions and retail investors need better transparency into whom they are investing with and what they are getting with their investment. While cryptocurrency will always have bad actors, we believe that helping safeguard investors' money is absolutely essential. And it begins with understanding the full breadth of the team behind the node and what they are really doing with your money.
Currently, there is no data-centric ranking system for the P-REP community. With the launch of P-REPrs system, now ICX stakers can make informed decisions around which team to support.
By definition, a P-REP is a public representative of Icon, ICX, dApps, and community. The function of a P-REP is to build applications, socialize Icon to new markets, and grow the entire Icon ecosystem. Those that do these things well are generally ranked higher in our system. They are fulfilling their assumed duties! However, a few P-REPs are failing at these basic mandates. Part of our theory and logic reveals these disparities clearly.
RANKING SYSTEM SPECS - HIGH LEVEL
- There are 5 ratings: S, A, B, C, D.
- There are 13 categories with 45 data points within the categories.
- Each data point has 3 sliding rules of a 0-30 (low), 31-60 (medium), 61-90 (high) score.
- To define each weight, we begin with the outliers of each category data point. For example: To appropriately weigh the value of Twitter followers, we need to understand the lowest and highest of all P-REPs. @Binance has the outlier at 2.1M and there are some P-REPs with no (0) Twitter. We can then choose to remove statistical outliers to find the average and weigh all others against the data set. To accurately compare and create baselines (control), we must compare within the same context. This is a subtle but important note to make. *We do take license to remove statistical outliers if we deem that it invalidates balanced weighting.
- Extra weight has been added if there is zero presence or activity in a category where there should be activity. For example: P-REPs are public representatives of Icon. For P-REPs that have no Twitter, they are weighted lower for the entire category.
*Example of our initial categories, data points, and algorithmic weighting.
We cannot wait to share our creation. We truly believe it will help inform investors around this new business model: Staking as a Service. Our Founders are leading the charge in this new type of business and transparency is what Bitcoin is all about.
"StaaS" - Staking as a Service - The new model of venture funding led by Catena!
CATENA OS*
NEW PRODUCT INCOMING!
After the launch and several iterations improving our P-REPrs product, we shall begin active development on our Operating System. This is what we will call it before we reveal the real name!
Our goal is to create a true interoperability dApp that allows any other cryptocurrency community or user to connect with the Icon community. This basic foundation allows for many things to happen: trade, transfer, and exchanges in all formats, social and monetary.
We must bring people to the Icon network, and quickly following that, liquidity and monetary exchange. We can do this through marketplaces and social infrastructure that allows for ease of connection, access to tools, and secure transactions.
We will announce and give developer updates soon!
FUNDING
Since the inception of Catena, our goal has been to acquire VC funding. We’ve had numerous discussions with various VCs and banking networks interested in Catena and the monetary prospects within ICON. We have discussed numerous multi-million dollar prospects surrounding investment into Catena, which will enable us to build multiple different projects on the ICON Network and beyond. Such ideas include, but are not limited to, the first ever debit card on the ICON Network, and interoperable OS system solidifying para-chain compatibility while successfully creating the “interoperability of communities.” Since our inception as a P-Rep within the ICON Ecosystem a little over two months ago, we’re proud to document that, as of today, we have garnered over six million dollars in ICX surrounding our node. We will continue to expand our reach as more funding comes into our network and provide substantial monetary opportunities for our investors and clients.
We look forward to a killer 2021. We’d love your help if you’re willing to stake with us or willing to share our project to your network! Every ICX helps! 🙂
All the best,
Peter, Matt, Corey @ #TeamCatena
