Staking of Opinion Pools (SOOP) is the feature on Coreto that transforms crypto trading ideas by bringing accountability, reputation-building, and rewards to their creators. In a space filled with uncertainty, the Opinions feature ensures that every call counts and provides a fair playing field for traders to showcase their knowledge.
Understanding the Core Concepts
To dive into SOOP, it’s essential to grasp the core concepts that drive its functionality.
- Stacks define prediction pools
- Opinions contain the price predictions and the trading idea itself
- Pledges are a way in which users are using the $COR token to support a certain Opinion and their creator
- and Challenges introduce competing opinions, where users that disagree with a certain Opinion can show their own view of the presented event.
Together, these elements create a dynamic ecosystem within the Opinions staking system, ensuring transparency, collaboration, and accurate evaluation.
Creating an Opinion and Engaging with the Community
Creating an Opinion on the Coreto Platform is a seamless process. By selecting the trading pair, position type, duration, and entry price, you set the foundation for your call.
Add a stop-loss, optionally pledge $COR tokens (putting some skin in the game), take-profit targets, and a detailed analysis to strengthen your Opinion.
Once published, the community can engage with your Opinion by pledging $COR, challenging it, or showing support through likes and dislikes. Stay connected with your audience and track the outcome with ease.
Pledging and Challenging
Pledging $COR tokens to your Opinion enhances your trust and performance metrics, showcasing your confidence in your prediction. By pledging, you gain a stake in the rewards and risks associated with your Opinion. On the other hand, challengers can enter a trading competition by challenging existing Opinions. They present their own analysis, set different stop-loss and take-profit levels, and also contribute to the $COR pool.
Pledging and Challenging create a vibrant paying field for diverse perspectives.
Evaluation and Outcomes
At the end of the defined time frame, the SOOP algorithms evaluate each Opinion based on its return on investment (ROI) relative to the entry price. The system determines the relative performance of each Opinion in a challenge scenario as well. The $COR pooled for a SOOP is then redistributed to participants based on their contribution. This fair distribution ensures that rewards align with merit and contribution.
The Staking of Opinion Pools feature on Coreto empowers traders to test or showcase their knowledge, learn from others, and earn $COR while building their reputation. Whether you’re a novice looking to learn by doing or an experienced trader showcasing your skills, Coreto provides a platform for growth and experimentation.
Join the community of traders, backers, and challengers, and be part of a system that rewards value and fosters trust.
We’re still at the beginning of Coreto’s journey, with more features to come for content creators, reviewers, and project teams.