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Finance.vote Raises $1.4m to Build a Social Consensus and Governance System for DeFi

·2 min read

Dover, DE, Sept. 21, 2020 (GLOBE NEWSWIRE) -- Finance.vote, a decentralized system for enhancing the governance of crypto networks, has successfully raised $960,000 in a private sale backed by Ascensive Asset Management, A195 Capital, Origin Capital, BTC12 and Bitcoin.com. The oversubscribed private round came after a successful seed raise of $420,000, highlighting the second of three sales that will make up finance.vote’s total offering. Details around an upcoming public round will soon be announced.

Finance.vote is developing a consensus layer for DeFi that will act as a next generation voting technology and cryptoeconomic game. This can be broken down into three important elements. Finance.vote’s vote markets will reward users for their research on how certain tokens will perform. If they are correct, they get rewarded. Next, are second layer governance systems which will act as a network of miniDAOs to allow users to build influence. Lastly, is a trustless social trading system that will give users a chance to manage their money with other users.

At the core of the system is finance.vote’s native governance token, $FIN, which will power the entire ecosystem. $FIN has a total supply of 1 billion tokens, with 20% being initially distributed over three rounds. $FIN tokens will have utility immediately, giving those that participate in finance.vote’s upcoming public round a voice on the platform.

Helping Solve The Overwhelming Speed of DeFi Innovation

One of the most important elements of finance.vote’s platform is a quadratic voting based rolling consensus system with the ability to generate alpha, product validation tools, and influence formation for any new token. This user-generation approach will provide market discovery and price prediction for tokens, giving people an easier solution to track and filter DeFi and non-DeFi tokens alike while being rewarded for their contributions.

Finance.vote’s Founder Dr. Nick Almond explains, “The finance.vote system will occupy an important part of the rapidly expanding governance space in DeFi. Voting tools will open the possibility for decentralised financial systems to be genuinely led by their users and not just replicate, but generate new ways of managing money. We mix prediction markets, DAOs and social consensus systems to help users safely navigate a technological space that moves faster than anyone can research.”

About finance.vote: finance.vote is a decentralised application for reaching consensus across the crypto space as a whole. It provides a space for users to engage with market discovery on new and existing tokens and be incentivized to share their perception on future price action.

Media Contact: Dr. Nick Almond, hello@finance.vote

Website: https://www.finance.vote/
Medium: https://medium.com/@financedotvote
Telegram: https://t.me/financedotvote
Twitter: https://twitter.com/financedotvote