How digital community Vetter is ushering in an era of radical growth for the cryptocurrency marketplace.
With cryptomarket turbulence seemingly keeping pace with the growth of the cryptomarket itself, investors need reliable intel and analysis tools to choose the projects they want to back and achieve their financial goals. But as prices tumble, investors scramble, and buyers panic, it’s becoming increasingly unclear who to turn to for accurate information and research. But crowdsourcing DAO Vetter.ai is answering this need with a suite of dApps, creating the first ecosystem of its kind to offer tools, analysis, and project vetting for individual investors new to the crypto world.
“Vetter is a one-stop marketplace and community for crypto investors from novice to expert to buy, sell, trade, research and discuss all things crypto,” says brand global ambassador Robyn Linn, a veteran of the space. It even offers its own coin: Vetter Token. The Vetter ecosystem offers tools and community reviewers providing deep analysis and project-vetting around the cream-of-the-crop offers hitting crypto-neophytes and vets, every day investors.
Here Robyn Linn answers 5 questions on crypto, blockchain, and how Vetter is quickly cornering the market on research and crowdsourced crypto information.
What is Vetter’s mission?
Vetter’s mission is to lead the blockchain and Web3 space with integrity as a multifaceted research based platform— empowering crypto enthusiasts to become better educated at spotting the big gains and avoiding the scams. Vetter’s ecosystem, with the Skylabs Launchpad, aims to serve as an incubator for developers to launch top-tier projects that are researched and vetted by all-star CrowdX members, and receive support in their successful launches and long-term roadmap.
How did Vetter come to life?
Vetter came to be out of a crowdsourcing strategy when sorting for presale, private sale, fair launch and IDO projects. Our private Tribe100x Discord community found certain criteria that, if met, serve as a tool to help investors find 2x-100x crypto projects prior to launch. RIPFT is the strategy that stands for Recoup Investment, Profit, and leave in Free Tokens. For 4-months, over 700 members were collating this data in Discord, which turned into a highly demanded Google Calendar, and then our blockchain project— Vetter CrowdX Calendar was born.
For those that don’t know – What is decentralized finance?
Decentralized Finance (DeFi) is where no central authority is in control of the outcome of financial transactions. There are elements of everyday finance that are handled by “smart contracts.” These pieces of code on a blockchain are used to bring trust to an environment where you can’t normally trust the other party. Rather than a central agency/authority, which was needed in traditional finance to help validate whether a party actually had the funds to perform a transaction for example, the contracts allow each party to know the outcome is valid, transparent, impossible to reverse, etc.
US Treasury Secretary Janet Yellen recently gave a speech signaling that regulation is on the way. Other governments around the world have done the same. What kind of regulation should the industry support? What would well-designed regulation do for the industry and investors?
There are many areas where regulation can help the industry and many that would hurt or cripple it. For example, Crypto is currently treated just like an asset in the US today. The difference is, a traditional asset has a process of taking ownership. So, the taxable event is the point where you sign to take ownership of the asset in question (a stock, home or car for example). No one has the ability to simply send you a car and say “this is yours now”, causing a taxable event of taking a vehicle in lieu of pay for example. It is possible, and happens all the time, where someone may end up with crypto sent to them from a random source with a designated value which you may not even have the ability to sell. You do not have a transfer of ownership/title/etc. In that case, but yet it is considered a taxable event. Better definition of crypto and treating it as a class of its own type would be welcome to clarify issues like this.
Another example is the definition of whether a coin or token is considered a security. There are tests that are referred to, but they are very unclear. There are no good guidelines set forward that define the rules on how to make that determination. That holds back innovation in the country since it causes fear and uncertainty making it impossible to move into the industry without some risk.
An example of harmful regulation would be to require individuals to know a tax ID number of everyone who sends or receives crypto. This is usually declared under the guise of preventing money laundering, paying for drugs or guns, and various underground activities. The problem is, it is impossible for everyday citizens to know and provide that information even on very legitimate transactions where a business would like to accept crypto for payment of goods and services. No business needs that information to accept cash at the grocery store, etc. for example.
What role do you envision Vetter filling in the defi industry?
There are a lot of “bad players” in the crypto space. We see investors getting taken advantage of every day. Especially in the area of new projects or tokens that are being launched. The goal is to provide crowd sourced intelligence to the process and help new and old investors alike learn how to determine whether a project is good before participating. The goal is to help clean up the space and build a trusted resource for people that does not provide recommendations, but saves them a ton of time on research. New applications in launching projects, researching projects, tracking progress, charting and many other aspects will be on a platform people can trust. In a nutshell, rather than being a miner in the wild west (which is what the crypto space can feel like at times) we are the project that sells the picks and shovels. In other words, we supply the research platforms and supporting structure to help people make better decisions, learn how to find better teams and projects and keep their earnings safer from thieves in the industry.