Svandis is a decentralized market data and analytics platform aimed to supply reliable data to the community and bring transparency to the cryptoeconomy. The key feature of Svandis is special mechanics for data crowdsourcing and self-verification that allows to supply and verify information without the engagement of centralized entity. Such an approach is developed with the aim to solve the problem of single information source and possible frauds/fake information that can affect the decisions of the crowd. Svandis community crowdsources and curates market data flow, daily insights, and in-depth market research.
Svandis solves the problem of creating an independent service that provides trusted market data which is curated by the community and cannot be faked by a narrow group of people as is not running by a centralized entity.
We are focusing on the digital asset industry, as it is a perfect example of a non-regulated market that is subjected to a lot of fraudulent activity and needs a transparent and trustworthy data provider owned by community members. However, Svandis operational mechanics could be used in other industries, for example, global financial markets and journalism.
The SVN token is designed to ensure effective and reliable operation of Svandis product by providing economic incentives to supply, verify and store trusted data and penalizing fraudulent and dishonest activity that can harm the service operation.
Data suppliers stake SVN tokens (use them as “skin in the game”) to ensure their honest behavior and quality work on the supply of the information. In the case of good quality of provided work, Data Supplier gets rewards. In the case of fraudulent activity or bad-quality work token stake is penalized partially or completely.
Any SVN token holder can delegate tokens to the selected Data Supplier.
The SVN token is used as an incentive to create a transparent repository for public data that can be easily verified and hardly falsified. Data Custodians stake tokens to ensure their honest behavior. They get rewards in case of good work provided and loss tokens in case of fraudulent activity or bad-quality work.
Any SVN token holder can delegate tokens to the selected Data Custodian.
Verifiers get a reward in tokens for every reported case of fake/fraudulent information supply and loss staked tokens in case of approving fake information.
Rational token delegation:
Participation in the governance of Svandis (by voting in SvandisDAO).