Last week, we introduced HORD LP Staking Farm, where a lot of you are already yield farming with an amazing APY. But, LP farming is only the beginning.
Have you met the Hord Champions?
At most, you’ve met a few, as we have only just begun to introduce them. But, before you get to actually select the one(s) that will boost your crypto earnings, we’ll explain more about what Hord Champions are. And, of course, how you can already get ahead in securing your access to their knowledge and basket mirroring.
First, let’s look at where champions are today, and how they share their wisdom, and earn from doing so.
Who are Hord Champions?
The first Hord Champions were selected amongst today’s leading crypto influencers.
Crypto-influencers are crucial to the crypto ecosystem, as they share the knowledge they gained from hours and hours of poring over charts, reading white papers, evaluating crypto- project teams, evaluating crypto-projects themselves, and correlating this information with their experience in crypto-investing and their individual preferences.
Crypto-influencers are far more critical to the crypto sphere than regular influencers to the industry they specialize in.
The crypto industry is still emerging, with fast-evolving new financial tools and new projects cropping up daily. As Key Opinion Leaders (KOLs), crypto-influencers are effectively an indispensable element to the specialized crypto press, as well as pretty much the only independent financial advisory body for crypto-investors.
What is the problem with crypto-influencers?
Unfortunately, this system suffers from a few major issues both on the influencer’s and on the follower’s sides.
The crypto-influencer’s pain points
Crypto-influencers invest time and effort into gathering valuable info and presenting it. Yet, the only way they can monetize this considerable work is through a high number of youtube views or through promoting products in exchange for payment. Reliable KOLs tend to stay away from sponsoring projects altogether, but that reduces their potential source of revenue.
Ideally, the vast majority of crypto-influencers’ revenue comes from return on their crypto-investments, and they simply enjoy sharing their knowledge out of the goodness of their heart and their desire to see the decentralized economy overtake the traditional financial market.
Monetizing their knowledge is mainly limited to a flawed system rooted in Web 2.0 infrastructure.
The follower’s pain points
For KOLs’ followers, there are a few issues as well.
- Trust issues
These are linked partially with the structural monetization issue described above. Some crypto-influencers might “forget” to mention that they received payment to push a project. Also, crypto-influencers might love to show their chart when they win big, but maybe less so when they take a plunge. As there is no standard format to their broadcast, it is somewhat complex to evaluate the average earnings — or losses — of most crypto-influencers.
- Time Issues
Even for followers who triple-checked their selected influencers’ trustworthiness and are confident that their advice is worth a fortune, there are timing issues. With the extremely high volatility of the crypto market, a timely buy or sell makes a huge difference. Crypto-influencers’ followers might miss out on a broadcast and catch up too late to capitalize on the opportunity; crypto-influencers often report on past gains, too late for their followers.
- Tx Fee issues
With the transaction costs on Ethereum, followers with limited funds might miss out on golden opportunities because the Tx fee would eat away their earnings.
How Hord Solves these Problems for both Champions and Followers
Two words: Full Transparency and Smart-Contracts
Actually, that is four words, but who’s counting?
A quick read about how Hord.app works is the best way to understand the details, but if you are pressed for time, here is the TLDR:
- Hord Champions’ portfolios are displayed for all to see, including historical fluctuations since registration — Full transparency means zero trust issues.
- Hord Champions earn on success fee — no more temptation to shill for profit.
- Mirror smart contracts ensure that followers are buying and selling at the exact same time their selected Champion does. — No more lost opportunities due to delays.
- Pooled transactions between followers and Champions reduce the Tx fees to a mere trifle.
How to reserve a spot with your Champion?
Hord has created NFTs for each of the selected Genesis Champions. You can earn NFT Tickets to reserve the right to buy your Champion’s ETF token by staking 3,000 $HORD for 30 days. Champions are being announced all the time at champions.hord.app, so have a look and see who’s new.
More details about Hord Champion NFTs next week
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The most powerful and fully decentralized social trading platform. Hord paves the way for the democratization of Assets Under Management and accelerates the move to DeFi from traditional finance.