It’s been a busy month here at Santiment, so we’re happy to release some exciting news. We’ve made a lot of progress on the MVP and economic model, all of which will be available in our yet-to-be released whitepaper.
Todays’ post will focus on our in-progress MVP, the Sentiment Tracker. How it and other datafeeds fit into the network (as value creation and distribution mechanisms) will be unveiled in a future post.
So what is the Sentiment Tracker?
The Sentiment Tracker is our first custom datafeed designed to gather specific types of sentiment data on crypto-asset trends. When the Sentiment Tracker is complete, it will be our first ‘crypto-financial game’. These games are incentivized datafeeds with rules. By participating in the game users create valuable sentiment data. The ‘winners’ of these games are then rewarded with either datafeed access or Santiment Network Tokens (SNT) for their contributions. The criteria for ‘winning’ depends on what game is being played.
These games are designed to collect data that’s otherwise incredibly difficult to collect… and the results of this data will be combined with other feeds to make crypto’s firstsentiment indicators available on the Santiment Network. Now let’s dive deep on the Sentiment Tracker.
The Sentiment Tracker is a social sentiment exchange. Here’s how it works.
First you select your coin and enter your personal sentiment. Are you feeling bullish, bearish, or indifferent? The Sentiment Tracker will visualize your sentiment over a long period of time, so you can see how we’re feeling relative to the trends at a glance. The more accurate and honest you are in entering your sentiment, the more useful the Tracker will be in helping you improve.
But that’s not the ‘social’ part. After entering your data, you then get to see the aggregate sentiment of every other gamer for that specific coin… in essence you can see the local crowd emotion at a glance. And because our core community of sentiment traders get first dibs on the beta, the visualized aggregate is the sentiment of dozens of experienced crypto traders.
This game is deceptively simple, yet gives participants a huge edge. At a glance you’ll be able to:
- Measure your personal sentiment against the crowd sentiment and price, both now and in the past.
- Visualize your historical behavior relative to the trends, showing you any weaknesses you might have and directing you on where specifically you can improve.
The MVP itself will be more conservative; beta-testers will be able to measure their current sentiment against the crowds’, with the visualization of historical behavior following later.
In the future users will be able to split specific users or communities from the aggregate, so you can see the sentiment of the traders and communities you trust most.
In terms of the actual code, here’s the main moving parts of the tracker: the portfolio tracker, the voting mechanism, your personal sentiment history, the aggregate sentiment history, and the specific user sentiment history.
For the MVP, we’re focusing specifically on the portfolio tracker, voting mechanism, and the personal sentiment history. The rest will come later. We’re making rapid progress on these parts, but there’s still a lot of bugs and backend work to deal with… that’s just the nature of making something that actually works!
This early work is ready in a somewhat presentable alpha-app, which we’re testing with our earliest supporters. I hope you’ve enjoyed the MVP screenshots spread throughout the article. :)
There’ll be lots more to come. If you want Santiment information as it comes (and as we approach our crowdsale) then sign up to our Community Newsletter!
Community Newsletter Link: >> http://eepurl.com/cfgl3n <<
All our news goes there first so if there’s one action you take after this article, sign up to that newsletter!
And of you’re welcome to join our slack directly, where we have a growing community of sentiment traders that you’re welcome to participate in. We’ll see you there.
https://santiment-slack.herokuapp.com/
Kindly,
Mitchell and the Santiment Team
