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Aluna.Social (Aluna / ALN) ICO Review

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Aluna.Social is a decentralized social networking platform that is putting users privacy and satisfaction as its first priority. It is an innovative approach towards transparent and independent means of user data ownership, reward on ads and free of speech. It is the first get paid to content creation and sharing ecosystem that leveraged OCR token payments for its reward system.

Essential Information

Ico TimeUnknown – Unknown
Token NameAluna.Social
Token SymbolAluna / ALN
WhitepaperView Whitepaper
Website LinkHome
Price1 Aluna / ALN = 0.1 USD
PlatformEthereum
Soft Cap500,000 USD
Hard Cap5,500,000 USD

More about Aluna.Social (Aluna / ALN) ICO:

Aluna.Social is a multi-exchange social trading terminal for cryptocurrency traders and investors. We combine a social network with an API trading platform integrated with top crypto exchanges, enabling copy trading features and public profiles featuring unforgeable trading performance and history.

The crypto asset trading landscape is highly fragmented and can be overwhelming for newcomers taking their first step. The constant noise on social media channels and the lack of transparency and trust in the space make matters worse.

Aluna solves these problems with a social trading platform that is native to the cryptocurrency ecosystem, combining the best of both trading terminals and social networks, by providing a wealth of crowd-curated sentiment data, gamification and transparency, in a one-stop shop environment.

Users enjoy a simplified and coherent trading experience as they trade on multiple exchanges directly from the Aluna platform or use chatbots to trade from their favourite social networks on the go. Social features enable users to create public profiles, and share their portfolio distribution and actual trades, revealing a user’s real-time exchange data and not just what they say. Copy-trading is integral to the platform, and the concept is extended further with the introduction of counter-trading. Traders will be able to design custom automated strategies to trade algorithmically through our execution engine.

Such a social trading environment offers high transparency and accessibility, and is able to reduce information asymmetries and contribute positively to a trader’s performance and returns.

Aluna Social further evolves this model with the introduction of our native ALN token economy. We present a modified curation and prediction market tailored to serve our specific environment. Innovative gamification and staking mechanisms incentivise users to share their data, give feedback on the current market sentiment in playful ways while building reputation, and track their prediction scores in a manner that can be monetised. Ways to earn, spend, and stake tokens are simplified and seamlessly interwoven into the fabric of the platform, reducing friction to user onboarding, and augments the overall social trading experience.

Users put their money where their mouth is as they trade and participate in the token economy, generating unique and actionable data, and establishing a community incentivised to share data while creating positive feedback loops. This empowers traders to unlock their full potential, spawning a new generation of crypto traders for whom financial freedom is an achievable goal.

VISION

Crypto assets are creating new financial instruments and markets, and arerevolutionising trading. Aluna Social is building the tools to support this revolution,combining an intuitive and easy to use trading platform with an online socialspace built on transparency, gamification and sentiment analysis.Whether you are an experienced trader buying and selling high volumes, or a noviceseeking information before taking your next step, Aluna provides you with actionabledata that is genuine and trustworthy, while our novel token economy makes tradingrewarding and exciting again.Our vision is to improve ​transparency ​between traders, establish a trading communityincentivised ​to share data, to create an environment where traders can leverage ​positivesocial feedback loops ​and improve their overall performance.

CHALLENGES

Traders today have a huge choice of exchanges to invest in and speculate oncryptocurrencies, from small DEX’s to industry heavyweights such as Binance, Bitfinexand Coinbase. Alongside the growth in exchanges has been an ​increasingly fragmentedmarket ​of support services: trading bots, technical analysis tools and accountmanagement services, all of which are purposefully designed to smooth and enhancethe trading experience.The ability to copy-trade is an essential and growing part of the trading ecosystem.Social trading platforms, such as eToro, allow less experienced individuals to benefitfrom the knowledge of their top traders, who are rewarded both financially andreputationally.However, useful and popular as these legacy platforms are, they are ​not native ​to cryptoand were not designed to integrate with the crypto ecosystem.The wide variety of choices, along with all the social media activity that accompanies it,might seem like a good thing. But for most traders, the flood of information andconflicting opinions can be ​overwhelming. ​Finding out about different assets is difficultwhen there are thousands of them and more often than not an exchange will have itsown unique set of features.Among the ​constant noise ​of Crypto Twitter, Telegram and WhatsApp, YouTubechannels and other media it is difficult to make sense of what’s actually being tradedversus what’s being promoted.Subscribing to paid groups is no solution as many of the advisors who charge a fee togive exclusive tips are generally inexperienced or trying to promote their positions —there is simply a ​lack of transparency and trust.

Aluna Social tackles the problem with inventive solutions:

●One-stop Shop.​ Rather than expend effort on learning the nuances of UI andfunctionality across multiple exchange platforms, users can manage their tradesthrough a single interface connected to exchange APIs, while analysing andmonitoring the market with the built-in screener tool and news feed.

●Transparency.​ Reliable signal providers can be identified via public profilesdisplaying verified trading history and real time trades. In other words, signalproviders ​put their money where their mouth is​, ensuring other traders can trust asignal because it corroborates with a trader’s actual practices. Existing socialmedia channels do not carry this proof, which means new traders can easily fallinto the trap of following signals without reliable track record.

●Gamification.​ Aluna provides a wealth of ​curated sentiment data ​based oninnovative prediction gaming structures. The community’s inclinations, historyand forward-looking direction are all fluidly visible as traders stake for or againsteach other’s positions, reputations as well as future market possibilities.

This combination of ​verifiable track record ​and ​game-based interaction ​not onlysmooths the learning curve for new traders but also impacts the behaviour of wellversed, more accomplished signal providers. Ultimately, as Doering, Neuman and Paulinform us, “social trading is able to reduce information asymmetries… and can provideaccess to ​hedge fund-like returns​, while offering ​high transparency, liquidity ​andaccessibility​”.

Trading Terminal

Aluna Social is first and foremost a unified trading terminal. The platform is presentedin a full-screen progressive web app integrated with chatbots, trading bots and otherweb applications.The platform allows users to trade on multiple accounts at the same time. Byconnecting their exchange accounts through API keys, users can view their portfoliodistribution, execute trades and monitor positions and orders. All this is done on anintuitive interface, with advanced order types that can be used across all integratedexchanges, providing users with a smooth and consistent trading experience.The Markets page is a screener tool that supplies panoramic information about themarket, complete with interactive charts to monitor price changes, and analysis tools tofilter crypto assets according to various fundamental, technical, sentiment, and on-chaindata. A news aggregator complements this suite of analysis and monitoring tools.Our mobile friendly web app enables trading on the go, while our proprietary Telegrambot allows users to trade by simply sending text messages, whether to buy or sell, longor short or check balances and market prices. Our roadmap includes rolling out thisunique Aluna Social feature beyond Telegram to multiple social networks and chat appsincluding Amazon Echo and Google Home.With natural-language processing, users will be able to ask “Hey Alexa what is Aluna’ssentiment about BTC/USD?” and receive an answer such as “Aluna is currently 80% longon BTC and 20% short. BTC balances make up 40% of all our portfolios.”

Social Network

The underlying motivation behind Aluna’s social network is to allow traders in thecommunity to exchange information, enabling participants to make more informedtrading decisions based on a wealth of community data. Traders also build up onlinereputation in a verifiable manner.Each user has a public profile displaying trading data such as trading history, openpositions and portfolio distribution, while keeping sensitive information such as positionor portfolio size private.A social feed known as Insights features 280-character posts, with the ability to addhashtags, cashtags and to tag other Aluna Social users, giving users an outlet to sharetheir opinions on what they think or feel about the market, or simply use as their diaryand trading journal.Every new trade appears as a post on the Insights feed. Upon seeing posts on Insights,anyone can take a closer look at a particular profile to see if the activity matches theopinions and attitudes of the posts. They can view an individual’s trading history, openpositions and portfolio distribution — is their money where their mouth is?Participants’ performance is displayed on a leaderboard for ultimate bragging rights,enabling users to find the best traders based on performance, risk, and consistency.2This gives users the power to assess individual traders and the community as a wholenot only on what is said, but more crucially on what is done.This combined and multilayered approach, being able to see individual as well ascommunity-wide activity, improves transparency and generates new and unique metrics— credible sentiment data. The thoughts on Insights and actions in portfolios create aunique opportunity to learn and use community feedback loops to improve everyone’sprofits. Markets move in more than one direction, and Aluna makes it possible for usersto identify bad as well as good traders, trading concepts and practices.

Automation

Copy-trading​ is a programmatically tethered trading relationship between a signalprovider and one or more followers.Those wishing to copy-trade begin by browsing trader profiles, whose performance canbe easily tracked on the platform’s leaderboard, be they the biggest risk takers, the mostrisk-averse, the most profitable or the least profitable. Having made a selection,copy-traders subscribe to an individual’s trades and define the trade amount they wishto allocate to follow a particular signal provider. When signal providers open a positionthe same position is automatically opened for copy-traders, when signal providers closetheir position the position will also be closed for copy-traders.The Aluna Social platform evolves and extends the concept of copy-trading to includecounter-trading​. With traditional copy-trading, followers can only imitate what signalproviders are doing. With counter-trading, followers can execute contrary trades tothose of the signal provider. Each time the signal provider makes a trade, thecounter-trader automatically opens the exact opposite position. This creates a new typeof market for honest signal providers and gives the community valuable feedback. Notonly can users seek the most profitable trading profiles to follow and copy, but also theleast profitable to counter-trade. Users can even spot traders who are on the verge ofgoing on tilt or just taking too much risk.Finally, programmers and more advanced traders will be able to easily connectalgorithmic strategies from custom bots or those designed on third-party sites such asTradingView, with Aluna Social to seamlessly automate trades. In the later stages,on-site strategy creation and backtesting will enable algorithmic traders to easilyfinetune trading strategies, and present backtest performance to potential copy-traders.

Prediction Gaming

Our novel prediction gaming mechanisms combine some of the primitives of curationand prediction markets. These games incentivise users to provide accurate andmeaningful ​market ​and ​sentiment ​data by rewarding the best traders and most accuratepredictions, while ​minimising noise. ​As a consequence of using Smart Contracts, AlunaSocial never has custody of users’ funds.When traders are able to risk tokens to back their opinions and predictions, then youcan see what they ​really ​think. This data can be aggregated and analysed over time —enabling users to make more informed trading decisions.There are three main categories of prediction games: Binary, Social, and Leaderboard.Each gaming mechanism aims to aggregate information and compile it into useful data.It also encourages the Aluna community to share feedback on the current marketsentiment in playful ways while building reputation. This provides users with fun waysto have ​skin in the game,​ through a gamified experience with the possibility of winningrewards for their accurate predictions, while building and tracking their prediction scorein a manner that can be monetised.

Binary Outcome Games

Answering questions about price or events can give the community feedback on currentmarket sentiment, and users can gauge if the majority are bullish or bearish and cantrack over time if the community was correct.Users participate by voting on the outcome of a binary outcome question by riskingtokens in parimutuel pools.3The question should always be something for which there is a clear-cut yes or noanswer, such as:

●Will Bitcoin’s current daily candle close higher than when it opened?

●Will Ethereum’s price fall below $80 at any point within the next 3 months?

●Will Ethereum’s market capitalization surpass that of Bitcoin within the next 12months?

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Aluna.Social (Aluna / ALN) ICO Scam or Not?

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