Note: Hello, I am V. Before you read on I just want to say that I understand the magnitude of my ambition and am not afraid to reach higher. I may not know everything, but that won’t stop me. All feedback is accepted. The more there is to fix, the better the final product will be. MANA - A Community Directed Decentralized Price Prediction Market Abstract The concept of cryptocurrency has been in existence for around 40 years and has now become a significant asset for investors to consider. Cryptocurrencies enable tradable exchange without the involvement of a third party, leading many individuals to pursue cryptocurrency trading as a career. With tradable cryptocurrencies like Bitcoin, Ethereum, Solana, and more, it's increasingly possible for people with limited experience in cryptocurrency and investing to quickly acquire knowledge and skills in this field. This often leads to a deep interest in the financial markets. MANA is positioned as a platform for profitable trading and a community-driven marketplace. While other organizations have introduced features enabling users to make predictions and interact, MANA aims to welcome users of all experience levels to test their expertise. It's a place where users can vote on the price movements of cryptocurrencies. Project Overview MANA is a decentralized platform leveraging blockchain technology to enable community-driven price predictions for various assets. Utilizing the MANA Token (MNAT), participants can vote on future price movements every two hours, stake their tokens, and earn rewards for accurate predictions. The MANA platform aims to harness collective intelligence for market analysis while providing all participants with a fair, transparent, and engaging experience. Price prediction is a valuable tool for traders and investors. Traditional methods often rely on expert analysis or algorithmic predictions, which can be biased or lack transparency, but the markets are run by people. If an entity sold a large amount Bitcoin the price of bitcoin would go down due to supply and demand. MANA offers a decentralized alternative, where community members contribute their insights to predict price movements, creating a collective intelligence that enhances market understanding. Voting Mechanism & Staking Community members must submit their predictions on where the price of a specific asset will be every two hours. This continuous voting cycle ensures up-to-date and relevant predictions that reflect the latest market sentiments. To participate in voting, members must stake MNAT tokens. Staking serves as a commitment to their prediction and helps prevent spam or malicious activities. The amount staked reflects the voter's confidence in their prediction. By staking tokens, users contribute to a larger pool of staked tokens that are then distributed amongst voters with the most accuracy. To maximize potential gains, members will need to stake more tokens. In other words, the more you put in, the more you'll get out. Data Collection The smart contract records all votes and the corresponding staked amounts, ensuring complete transparency and immutability of the voting process. This data is publicly accessible and verifiable by anyone. While the voting data is public, the identity of the voters remains pseudonymous, linked only to their wallet addresses, to maintain the utmost security and privacy possible. Outcome Verification & Reward Distribution The voting period will take place once every two hours, during that time users can vote on where the price will be by the end of the voting period. Although to prevent potential security flaws voting will pause 10 minutes before the next interval. At the end of each voting period an oracle will retrieve the actual price data from a reliable source. The smart contract will then verify the outcome by comparing the actual price change to the community's predictions. Participants who make the closest predictions about price movements will receive rewards from the pool of staked tokens. The rewards are distributed proportionally based on the amount staked, which encourages accurate predictions and active participation. Those who make the furthest incorrect predictions forfeit their staked tokens, which are then redistributed among the correct predictors. Security & Fairness The smart contract ensures that the voting process is secure and tamper-proof. Utilizing a reliable oracle minimizes the risk of manipulation, maintaining the integrity of the prediction outcomes. Community Engagement My vision for MANA is promoting active community engagement by enabling members to actively participate in market predictions. This initiative not only provides invaluable insights into market trends, but also fosters a gamified experience that is both educational and rewarding.  I want to allow users to get people stake as much money as they want so long as they can afford it, essentially balancing balances user autonomy with their own discretion. Use Cases: Trading Signals: Traders can confidently utilize the collective predictions as signals to inform and enhance their trading strategies.
Market Analysis: Analysts and researchers can rely on the aggregated data for in-depth market sentiment analysis.
Gamified Learning: Trading novices can confidently immerse themselves in learning about market dynamics in an engaging, low-risk environment.
Competitive High Risk Earning: Traders with the most confidence can stake MNAT tokens for potentially higher gains allowing users to mix their earning with their day trading tasks. Technical Details Smart Contract & Oracle Integration The MANA smart contract is built on the secure and stable Ethereum network, ensuring efficient and reliable execution of voting, staking, and reward distribution. A robust and decentralized oracle system fetches accurate price data, ensuring the integrity and reliability of the outcome verification process. Tokenomics Token Name: Mana Token Token Symbol: MNAT Total Supply: 333,000,000 MNAT MNAT tokens are used for staking, voting, and reward distribution within the MANA platform. Please take note of the following planned token allocation (ACTIVELY SUBJECT TO CHANGE): Founder's Allocation: 15% (49.95M MNAT)
Development Fund: 15% (49.95M MNAT)
Marketing and Partnerships: 10% (33.3M MNAT)
Community and Ecosystem Incentives: 20% (66.6M MNAT)
Liquidity Pool: 35% (116.M MNAT)
Reserve Fund: 5% (16.65M MNAT) Roadmap Q3 2024: Concept Development and White Paper Release
Q4 2024: Smart Contract Development and Testing
Q1 2025: Oracle Integration and Platform Beta Launch
Q2 2025: Full Platform Launch and Community Building
Q3 2025: Expansion to Additional Assets and Enhanced Features Conclusion MANA represents an approach to decentralized price prediction, leveraging the power of community intelligence and blockchain technology. By allowing participants to stake MNAT tokens and vote on price movements, MANA creates a transparent, fair, and engaging platform for market predictions. Join us in revolutionizing the way we understand and engage with financial markets. Lets see what the effect of the platform (if grown large enough) has on the greater crypto market. Thanks for reading, V. Link to Git Repo (Don’t bother reading the README): MANA - Global Participation in the face of uncertainty Note: Hello, I am V. Before you read on I just want to say that I understand the magnitude of my ambition and am not afraid to reach higher. I may not know everything, but that won’t stop me. All feedback is accepted. The more there is to fix, the better the final product will be. Note: Hello, I am V. Before you read on I just want to say that I understand the magnitude of my ambition and am not afraid to reach higher. I may not know everything, but that won’t stop me. All feedback is accepted. The more there is to fix, the better the final product will be. MANA - A Community Directed Decentralized Price Prediction Market Abstract The concept of cryptocurrency has been in existence for around 40 years and has now become a significant asset for investors to consider. Cryptocurrencies enable tradable exchange without the involvement of a third party, leading many individuals to pursue cryptocurrency trading as a career. With tradable cryptocurrencies like Bitcoin, Ethereum, Solana, and more, it's increasingly possible for people with limited experience in cryptocurrency and investing to quickly acquire knowledge and skills in this field. This often leads to a deep interest in the financial markets. MANA is positioned as a platform for profitable trading and a community-driven marketplace. While other organizations have introduced features enabling users to make predictions and interact, MANA aims to welcome users of all experience levels to test their expertise. It's a place where users can vote on the price movements of cryptocurrencies. Project Overview MANA is a decentralized platform leveraging blockchain technology to enable community-driven price predictions for various assets. Utilizing the MANA Token (MNAT), participants can vote on future price movements every two hours, stake their tokens, and earn rewards for accurate predictions. The MANA platform aims to harness collective intelligence for market analysis while providing all participants with a fair, transparent, and engaging experience. Price prediction is a valuable tool for traders and investors. Traditional methods often rely on expert analysis or algorithmic predictions, which can be biased or lack transparency, but the markets are run by people. If an entity sold a large amount Bitcoin the price of bitcoin would go down due to supply and demand. MANA offers a decentralized alternative, where community members contribute their insights to predict price movements, creating a collective intelligence that enhances market understanding. Voting Mechanism & Staking Community members must submit their predictions on where the price of a specific asset will be every two hours. This continuous voting cycle ensures up-to-date and relevant predictions that reflect the latest market sentiments. To participate in voting, members must stake MNAT tokens. Staking serves as a commitment to their prediction and helps prevent spam or malicious activities. The amount staked reflects the voter's confidence in their prediction. By staking tokens, users contribute to a larger pool of staked tokens that are then distributed amongst voters with the most accuracy. To maximize potential gains, members will need to stake more tokens. In other words, the more you put in, the more you'll get out. Data Collection The smart contract records all votes and the corresponding staked amounts, ensuring complete transparency and immutability of the voting process. This data is publicly accessible and verifiable by anyone. While the voting data is public, the identity of the voters remains pseudonymous, linked only to their wallet addresses, to maintain the utmost security and privacy possible. Outcome Verification & Reward Distribution The voting period will take place once every two hours, during that time users can vote on where the price will be by the end of the voting period. Although to prevent potential security flaws voting will pause 10 minutes before the next interval. At the end of each voting period an oracle will retrieve the actual price data from a reliable source. The smart contract will then verify the outcome by comparing the actual price change to the community's predictions. Participants who make the closest predictions about price movements will receive rewards from the pool of staked tokens. The rewards are distributed proportionally based on the amount staked, which encourages accurate predictions and active participation. Those who make the furthest incorrect predictions forfeit their staked tokens, which are then redistributed among the correct predictors. Security & Fairness The smart contract ensures that the voting process is secure and tamper-proof. Utilizing a reliable oracle minimizes the risk of manipulation, maintaining the integrity of the prediction outcomes. Community Engagement My vision for MANA is promoting active community engagement by enabling members to actively participate in market predictions. This initiative not only provides invaluable insights into market trends, but also fosters a gamified experience that is both educational and rewarding.  I want to allow users to get people stake as much money as they want so long as they can afford it, essentially balancing balances user autonomy with their own discretion. Use Cases: Trading Signals: Traders can confidently utilize the collective predictions as signals to inform and enhance their trading strategies. Market Analysis: Analysts and researchers can rely on the aggregated data for in-depth market sentiment analysis. Gamified Learning: Trading novices can confidently immerse themselves in learning about market dynamics in an engaging, low-risk environment. Competitive High Risk Earning: Traders with the most confidence can stake MNAT tokens for potentially higher gains allowing users to mix their earning with their day trading tasks. Trading Signals: Traders can confidently utilize the collective predictions as signals to inform and enhance their trading strategies. Market Analysis: Analysts and researchers can rely on the aggregated data for in-depth market sentiment analysis. Gamified Learning: Trading novices can confidently immerse themselves in learning about market dynamics in an engaging, low-risk environment. Competitive High Risk Earning: Traders with the most confidence can stake MNAT tokens for potentially higher gains allowing users to mix their earning with their day trading tasks. Technical Details Technical Details Smart Contract & Oracle Integration The MANA smart contract is built on the secure and stable Ethereum network, ensuring efficient and reliable execution of voting, staking, and reward distribution. A robust and decentralized oracle system fetches accurate price data, ensuring the integrity and reliability of the outcome verification process. Tokenomics Token Name: Mana Token Token Symbol: MNAT Total Supply: 333,000,000 MNAT MNAT tokens are used for staking, voting, and reward distribution within the MANA platform. Please take note of the following planned token allocation (ACTIVELY SUBJECT TO CHANGE): Founder's Allocation: 15% (49.95M MNAT) Development Fund: 15% (49.95M MNAT) Marketing and Partnerships: 10% (33.3M MNAT) Community and Ecosystem Incentives: 20% (66.6M MNAT) Liquidity Pool: 35% (116.M MNAT) Reserve Fund: 5% (16.65M MNAT) Founder's Allocation: 15% (49.95M MNAT) Development Fund: 15% (49.95M MNAT) Marketing and Partnerships: 10% (33.3M MNAT) Community and Ecosystem Incentives: 20% (66.6M MNAT) Liquidity Pool: 35% (116.M MNAT) Reserve Fund: 5% (16.65M MNAT) Roadmap Q3 2024: Concept Development and White Paper Release Q4 2024: Smart Contract Development and Testing Q1 2025: Oracle Integration and Platform Beta Launch Q2 2025: Full Platform Launch and Community Building Q3 2025: Expansion to Additional Assets and Enhanced Features Q3 2024: Concept Development and White Paper Release Q4 2024: Smart Contract Development and Testing Q1 2025: Oracle Integration and Platform Beta Launch Q2 2025: Full Platform Launch and Community Building Q3 2025: Expansion to Additional Assets and Enhanced Features Conclusion MANA represents an approach to decentralized price prediction, leveraging the power of community intelligence and blockchain technology. By allowing participants to stake MNAT tokens and vote on price movements, MANA creates a transparent, fair, and engaging platform for market predictions. Join us in revolutionizing the way we understand and engage with financial markets. Lets see what the effect of the platform (if grown large enough) has on the greater crypto market. Thanks for reading, V. Link to Git Repo (Don’t bother reading the README): MANA - Global Participation in the face of uncertainty (Don’t bother reading the README): MANA - Global Participation in the face of uncertainty

This post provides insights into new product. 

The writer was physically present in relevant location(s) to this story. The location is also a prevalent aspect of this story be it news or otherwise.

Proposal for a Collective Price Prediction Protocol

About Author

Comments

TOPICS

THIS ARTICLE WAS FEATURED IN

Related Stories

$1B Capitalization: Meme Token Launch Strategy Under the Microscope

(1/100) Crypto Countdown: Golem

06/09/2018: Biggest Stories in the Cryptosphere

07/09/2018: Biggest Stories in the Cryptosphere

$PEPE, a Purple Lamborghini, and More: The Story Continues

Roundup #11: "How I Evaded Sanctions and How You Can To"

$1B Capitalization: Meme Token Launch Strategy Under the Microscope

(1/100) Crypto Countdown: Golem

06/09/2018: Biggest Stories in the Cryptosphere

07/09/2018: Biggest Stories in the Cryptosphere

$PEPE, a Purple Lamborghini, and More: The Story Continues

Roundup #11: "How I Evaded Sanctions and How You Can To"

Light-Mode

Classic

Newspaper

Minty

Dark-Mode

Neon Noir

Minty

HN StartUps