Blockchain Startup Nervos Enables Community-Driven Trading Predictions With HedgeTrade Partnershipbr>
Blockchain startup Nervos has integrated with social trading platform HedgeTrade to enable community-driven predictions for the Nervos CKB token.
Nervos is a network of scaleable and interoperable blockchains built on top of an open network – which the company calls the Common Knowledge Base (CKB). CKB is built as a security anchor for all blockchains in the Nervos Network. It allows any crypto-asset to be stored with the security, immutability, and permissionless nature of Bitcoin while enabling smart contracts and layer 2 scaling. Its unique crypto-economic model is designed to better align the interests of users, developers, and miners as compared to first-generation blockchains.
HedgeTrade is a platform where traders stake HEDG tokens and post trading predictions that users can purchase to unlock hidden trade details. If the trader’s prediction becomes correct, they earn back their stake and the HEDG earned from purchasers of their predictions. If incorrect, the traders lose their stake and the purchasers get a refund plus a share of the lost stake. The model aligns the interests of both predictors and purchasers.
Nervos said in a press release that the HedgeTrade integration will enable them to democratize trading strategies and token analyses for novice traders by incentivizing experienced traders to share their expert insights. Experienced traders will be able to use CKB trading pairs to make smart contract-powered predictions, called ‘Blueprints,’ which can be purchased by novice traders to replicate the trades. Pro traders and newcomers alike can also bet on or against the CKB predictions of others. Both groups can earn HEDG — the native token of HedgeTrade — for making accurate predictions on CKB trading pairs while the platform as a whole provides a growing source of real-time trading insights.
“Our collaboration with HedgeTrade brings exciting new opportunities to both existing CKB holders and the broader crypto community,” said Nervos co-founder Kevin Wang. “Not only will HedgeTrade’s unique predictions platform unlock new insights and analytics for the CKB token, but it’ll also introduce CKB to a growing community of traders on HedgeTrade.”
“Our team is thrilled to be collaborating with the talented development team at Nervos, who like us is totally committed to defi solutions for creating a better global economic system that is community-focused, fun and open to everyone,” said HedgeTrade CEO David Waslen.