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DeFi is a decentralized funding and investment platform for crypto-based projects. It has some similarities to Kickstarter, but differs in that it doesn’t allow backers to choose what they want funded. Instead, the community curates all investments through an Asset Index which ranks project quality according to factors like development progress and asset valuation.

The “blockchain whispers” is a community-curated index of assets that are currently listed on the decentralized application platform “Pollen DeFi”. The index is created by Pollen’s meritocratic algorithm, which rewards those who contribute to the network with tokens.

Pollen DeFi, the decentralized system that enables ‘hivemind’ weighting of asset pools that back up market-tradable tokens, announced today the launch of their ‘Incentivised Beta’ platform and information on how the ‘DeFi 2.0’ protocol would allow its unique community-managed financial instrument.

Users will be able to participate to the ongoing balancing and rebalancing of a single central asset pool that will back up a marketable asset token in the ‘Beta’ version, which will be live in December.

The protocol will be available to whitelisted users who will be able to begin earning community credibility (in the form of a’reputation’ score), fight for a spot on the community leaderboard, and receive mainnet Pollen ($PLN) governance tokens as a result.

Pollen DeFi Inside

Pollen DeFi seeks to usher in the ‘DeFi 2.0′ era by pushing beyond institutional mimicry and eliminating centralized “middlemen,” instead empowering user-curated cryptocurrency asset pools that are continually updated via a merit-based balancing of users’ portfolio choices.

Members of the community are rewarded for making smart selections, and as a result, they have greater control over the constantly rebalancing portfolio. Users that choose to outsource their voting power to more competent traders (based on demonstrated repute, as determined by the platform) may do so.

These ‘hivemind approved’ asset portfolios then serve as a backstop for ‘asset pool tokens,’ which are listed as readily accessible financial products capable of outperforming market volatility.

Pollen DeFi was boosted earlier this year by strategic backers The Graph and AlphaBit, with the goal of creating the ultimate ‘crypto meritocracy.’ The key, DAO-driven ‘DeFi 2.0′ experience relies on the fact that the leadership team merely creates and hones the core technology and UI, ensures platform security, and facilitates user governance and ease of accessibility, while the diversity of opportunities is facilitated by the diversity of opportunities.

pollen defi 2.0Pollen DApp users may opt to delegate their governance tokens to the best performing traders and split the benefits, or they can make portfolio suggestions and aim to top the leaderboard to gain incentives.

Pollen The Pollen ($PLN) governance token and the native Portfolio Asset Index token ($PAI), which is backed by the total value locked (TVL) of the platform’s initial and core asset pool, are two new tokenized assets designed particularly for DeFi 2.0.

Other crypto-communities, influencers, and even top-ranking Pollen DeFi users will be able to propose new asset pools, which will be constantly rebalanced by user suggestions and support new asset-backed tokens, similar to the $PAI token.

Pollen DeFi’s transition from Alpha to Beta, which includes a significantly enhanced protocol architecture, is backed by an already large community of supporters eager to start actively contributing to the asset pool’s balance.

Pollen DeFi’s open-source protocol and merit-based system enable and motivate the community’s finest brains to keep contributing. This implies that the $PAI token is backed by an asset pool that is constantly rebalanced and adjusted in order to outsmart market swings using total global community intelligence, which is suitable for the cryptocurrency market’s 24/7 nature.

Philip Verrien, Pollen DeFi Project Lead and Co-Founder, stated in a statement:

“Our focus has been on rebuilding asset management from the ground up, reducing risk and volatility while also maximizing yield and creating dynamic opportunity for anyone, regardless of experience level; [Pollen DeFi] aims to be the embodiment of what we believe will be the next step in DeFi, and reflect the core principles of truly decentralized finance,” says the company.

How do the $PAI and $PLN tokens work?

Pollen DeFi emphasizes user involvement and usefulness. It’s intended to address the governance and centralization problems that plague today’s DeFi ecosystem. Using the hivemind to put the community in charge, we’re concentrating on establishing community involvement incentives and procedures that lead to real decentralization.

The $PAI token will be the platform’s initial index token, with its value related to the TVL of the primary asset pool. $PAI is meant to be a less volatile asset that offers a safer method to engage in the DeFi ecosystem, since it will be actively controlled by the community 24 hours a day, 7 days a week.

$PLN, on the other hand, is the governance token that enables users to engage with the platform and is given to community members who effectively manage the portfolio or delegate it to others (from a leaderboard).

Whitelisted users will be able to actively contribute suggestions to Pollen DeFi’s first community-managed portfolio and associated asset pool token, Portfolio Asset Index ($PAI), beginning in December; reputation points earned during this part-testnet, part-mainnet ‘Community Release Incentivised Beta’ will be ported over as part of the full mainnet launch in Q1 2022.

Visit pollen.id for more details.

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The “blockchain whispers review” is a blog post that discusses how the community curated Asset Index embodies ‘DeFi 2.0’ and creates ‘Crypto Meritocracy’.

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Tommy Pendridge

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