Interview with Ignite Ratings team

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How would you describe the main pillars of the company?

Community: The main pillar of our business, and of the Ignite project in general, is our community. The Ignite concept thrives on attracting participants from all walks of life, with diverse skills sets and opinions. Bringing these together in a meaningful way breathes life into Ignite RATINGS.

Decentralised ratings and investment intelligence: Asset ratings have traditionally been a very centralised process — with the ratings agency incentivised directly by the issuer, which creates a massive conflict of interest. Leveraging blockchain technologies, we are able to create a totally independent, transparent, unbiased and non-conflicted ratings process. Any “ICO” or issuer listing on the Ignite RATINGS platform is compelled to provide our community with as much information as possible regarding their project, should they wish to obtain a high rating and attract investment from our community and, ultimately, Ignite itself. Ignite will take a financial position in the highest-rated assets, per the Ignite RATINGS platform, which creates a never-before-seen incentive model in the ratings industry — that being one that is inextricably linked to the performance of those assets that the Ignite HIVE expect to perform well. In this way, the Ignite HIVE is incentivised to rate honestly and to provide quality content and opinion, as they are only rewarded when an Ignite INDEX position leads to a profitable trade. This process aligns the interests of all parties in a unique and truly innovative way. Projects which do not supply quality information, or which do not pass muster, will not have a high rating on the platform and will thus suffer from lack of exposure, lack of investment and the lack of a quality Ignite rating.

Interview with Ignite Ratings team
Interview with Ignite Ratings team

Technology: Ignite’s technology is much more than a platform and content aggregator to its users — we are deploying proven wall street trade routing technology, built by Speedroute and tZERO, which allows us to send buy and sell orders instantly to multiple exchanges, always obtaining the best market price and never materially influencing a single market. Typically, when you place a large order on one exchange the price can move against you, this exclusive technology allows us to avoid that and also helps us to take advantage of arbitrage opportunities that may exist.

What’s the role of the tokens at Ignite Ratings project?

The IGNT token acts as a proof-of-membership and proof-of-stake within the Ignite ecosystem. Users are required to own at least 1 IGNT token in order to access the Ignite RATINGS platform, and the benfits that come with it. Should a user wish to liquidate some of their IGNT holding, they simply swap IGNT for IGNX, which is our exchange tradeable token — the two being segregated, primarily, for regulatory and operational advantage. The amount of IGNT that a user “stakes” (by holding it on the Ignite platform) directly impacts one’s earning potential with regards to the rewards generated by the Ignite RATINGS ratings process.

In future, our users will be able leverage their IGNT holdings in order to have direct access to Ignite’s trading technology and to execute their own smart-routed trades via the Ignite platform.

About the team and supporters, what are your strengths?

You can have the best idea in the world, but without the team to make it a reality it just remains a nice idea. When investing in any project, it is super important to know, with certainty, that the team has a strong history of execution. Our team has worked together on several successful business ventures and we always have, and will always continue, to execute on all our goals.

Additionally, we are our own biggest critics! We are constantly challenging each other’s ideas and asking ourselves if there is something that we can do better and, when the answer is “yes”, we have the courage and conviction to do something about it. This degree of flexibility and ability to respond dynamically to the constantly shifting sands of the cryptocurrency industry is of huge advantage.

Thinking about the future, do you have any roadmap with relevant upgrades?

Ignite aims to be a full service trading platform. Our goal is to offer opinion, content, listing opportunities, direct “smart-routed” trading and multiple ways to exit your cryptocurrency gains into fiat. We also hope to diversify into traditional asset classes at the earliest opportunity, as well as bring new hybrid asset classes and investment opportunities to market and to the attention of our users.

What’s the added value of Ignite Ratings in comparison with other competitors?

Ignite is the first decentralised ratings provider, our ratings will be made public and distributed for free to multiple news outlets and exchanges. Other “ratings” providers will charge new ICOs anything from $10,000 to $30,000 for a basic rating which, at the end of the day, is still a centralised process, marred by a clear conflict of interest. Ignite does not, and never will, charge for its ratings services, and we know of no other ratings service which provides a constantly curated, real-time rating for pre-existing, funded projects, in order to monitor their progress. We feel Ignite will allow great projects to raise what they need fast, while keeping the scams and bad actors at bay — something we believe passionately in. In fact, we recently deployed Ignite-developed software to help the Benebit victims identify the culprits in less the 12 hours.

We are aware of several projects that offer services similar to some of the elements of Ignite, in the sense that they offer funds, or aggregate sentiment, or deploy a democratic decision-making process, but not of anything that truly competes with Ignite RATINGS, or closes the loop quite as fully.

Evaluation of the current scenario for Ignite Ratings, the investment platforms and the blockchain ecosystem.

Ignite has the opportunity to be a real game-changer and to professionalise the industry and how we, as individuals, choose to invest in it. The days of paid listings, paid reviews and paid for ratings are very quickly coming to an end. Ignite will provide the means for innovative projects to showcase themselves to potential contributors without having to waste a cent of the value that those contributors expect the project to deploy. Swarm theory in action, via the Ignite RATINGS platform, will help evaluate projects in meaningful ways, encourage transparency, and set new standards by which ICOs will be judged. Our hope is to make “the blockchain” a much more well-educated and safer space for all.

Thanks for your time

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