Hedgeconnect introduces itself as a ERC-20 token. And yet, you can stake it in their dashboard
The decision though on how the token would be distributed to staking members isn't written anywhere on the white paper or the website. The devs will decide on that AFTER the ICO. I smell something fishy going on. But hey, they never mentioned anywhere either that their a decentralized trading platform, like these two:
and
Now, Davor's price drastically dropped today. But were they transparent as they said on their website? My previous post clearly debunks that claim.
Now why is the word decentralized so important? Let's see, the definition of centralized that would be applicable in crypto currency is "to bring under one control, especially in government". Most crypto currencies claim to be decentralized which is defined as "to distribute the administrative powers or functions of (a central authority) over a less concentrated area". Case in point is the PoW/PoS mining where a lot of computers verify the transaction. In either case, the computer with a highest hashrate (for PoW) or highest staked coins (Pos) get most of the rewards per block.
Hedgeconnect doesn't say that they are decentralized. Decision on what companies to invest in solely resides on the devs "shoulders" so to speak. But have you noticed the similarities of the 3 platforms?
- You can stake the coin/token
- You can lend it - apparently it's "lending" the tokens to them so they can put your investment in "good use". Putting it bluntly, "they know better than you in where to invest your money". Just like what a bank's fund manager would say.
Although lending comes from the root word lend, which means "to give (money) on condition that it is returned and that interest is paid for its temporary use" while investing means "the investing of money or capital in order to gain profitable returns, as interest, income, or appreciation in value." In lending, you should expect to get it back in it's whole value as what was agreed upon while in investing, the investor understands the risk that the investment might not profit good returns.
- You are expected to invest in USD value as seen here
I'm saying that Hedgeconnect seems to be a little shady and is a centralized platform. If you trust people you don't know personally with your money, then probably you should send some to me too. I'll give you have back. Send to either of the address below, and I'll send you back half right away.
We should do a UET part 2 right away.
Until next time!
BCH : 1F72jSnZadZ3xZCafZLP542vj743mqDFNe
LTC : LZWyPebkPt1nY9Mw7VUwJqtWmX7moEi7Dn