Exorde is a new innovative protocol. It aims to collect and extract sentiment from social networks through a decentralized community worldwide. The team believes that its decentralized approach is key to its success. Using this new technology allows it to collect data on social networks, notwithstanding the different locations, interest browsers, and so on.
Moreover, Exorde ensures that its data is reliable. The platform uses peer verification, as well as public processing, to provide only trustworthy information. It will allow customers to use the gathered data for market predictions, trend analysis, and creating e-reputation. However, Exorde also strives to protect all the rights and regulations about personal data. That’s why it uses Defi technology. The team stated that scammers or other unsavory persons wouldn’t be able to censor, manipulate or suppress any trends or analytics based on its platform’s output.
Exorde created the project’s ICO – EXD. The latter is very trending on various ICO listing platforms. It will incentivize Exorde’s community, encouraging them to collect the data that clients demand.
Exorde launched the ICO sale on February 14, 2023. It will end on March 10, 2023, though. The initial coin offering for this ERC20 token is set at 0.35 USD, though its value is likely to increase upon completion. The total supply of tokens is 200,000,000, but only 14,4% is available for purchase. The team aims to gain $4,175,000 for the project’s further development.
How does the Exorde Protocol work?
The Exorde protocol’s main goal is to incentivize a Defi community to collect publicly accessible data. Users will be able to gather info across social networks all around the world. As this platform will be global, language barriers won’t matter. It will be available for all customers from various countries.
Moreover, the team stated that the Exorde protocol runs thanks to its many contributors. Its community is spread out worldwide. The Exorde data crawling module is run by the members. The latter enables them to collect and analyze live social network data. Consequently, these contributors earn EXD coins as a reward. The platform also awards members with a small amount of Reputation for every task they fulfill. That is also beneficial for users, as those with higher reputation ratings will be more in demand from customers. The latter comes in the form of NFTs.
The platform will use its tokens to pay contributors for their work. EXD will become the unique bridge between contributor-related tasks and client requests within the protocol. The company ensures that users pay for all data collection requests in EXD coins. It also allocated some tokens for additional rewards.
However, Reputation is a non-transferable and non-tradeable currency. It is harder to earn and easier to lose. Thus, this specific score reflects a contributor’s work history within the platform. Every time the users finish a task successfully, they will receive a small amount of Reputation. Customers can use these tokens to participate in governance. They will be able to influence various high-level decisions affecting the entire protocol. Another available utility to staking the Reputation tokens.
According to the Exorde team, contributors will have more Reputation will have more sway on the platform’s development. However, if they fail to finish tasks, the platform will lower their Reputation score.
What about the platform’s products?
Exorde offers various products. Nevertheless, its fundamental characteristics involve a wide-reaching network with the capacity to acquire worthwhile information in numerous languages and in a prompt manner. The platform employs a decentralized NLPprocessing pipeline. The latter can produce Terabytes of data per day. The team constructed a specialized framework to guarantee the clarity, impartiality, and open participation of its platform.
Furthermore, the company stated that possible use cases for its data are numerous. For instance, customers can use it for market predictions. Recent surveys showed that predicting financial market trends by using social networks is very efficient. Thus, traders and investors will benefit greatly if they employ Exorde’s services.
In addition, various companies will be able to boost their businesses thanks to studying customer demand and markets. They can offer better products and services and find new niches. Many corporations depend on such data to ensure success. In fact, it’s essential for any business to determine demand and provide goods according to it. Exorde makes that possible.