by 
In the thick of the ICO craze of 2017, several tokens ended up being scams partly due to the consummate ease with which anyone could launch a cryptocurrency.
It was the ‘Wild Wild West’ of the Crypto era, and investors bore the full weight of the losses. As a way to distill the chaotic situation for the benefit of the average investor, self-appointed stakeholders in the Crypto space took it upon themselves to create a standard by launching token review and rating websites, which inundated the market, became a dime a dozen, and propagated further chaos with most of them self-serving. It was not uncommon to see would-be scams turn in excellent reviews and raise millions of dollars in funds. The fact that the ICO system was flawed is a no-brainer, but even more, worrisome- the situation was exacerbated by terrible rating systems that further exploited the average investor. Hindsight is 20-20, and a post mortem of the situation reveals several lessons.
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The crux of the problem was the prevailing culture in the Crypto space of prioritizing money-driven hype and empty popularity over projects’ actual market potential. This culminated in the birth of a hype ecosystem with rating websites, exchanges, brokers, middlemen, and unsuspecting investors, all players. Positive reviews could be paid for and less savoury ones buried. Several were compensated with airdropped tokens for shilling subpar projects. Fake social proof merchants ran amok. It was near impossible to find an untainted rating system. Even the half-decent ones didn’t stand a chance due to their nonholistic approach and over-reliance on the financial analysis of ‘experts.’ Some also choose to prioritize issues such as manual KYC verification, originality of whitepaper, and token information which while important does little to move the needle towards profitable investment. Unsurprisingly the value of many highly-rated tokens tanked once it hit exchanges. A lousy rating system hinged on nonessential factors is a great disservice to investors who have been forced to watch their diversified crypto portfolio fall to zero. All of these crypto investment pain points lead to one conclusion: Inventing a standardized rating system has never been this urgent.
It is several shades of irony that government-owned regulatory bodies like the FCA and SEC have had to step in to provide much-needed checks and balances in a Blockchain and cryptocurrency niche that fancies itself an escape route from government oversight. While protective regulations still leave much to be desired, investors are perpetually searching for an unbiased rating system, they can bank on to make significant investment decisions. The Crypto space has indeed come a long way since 2017, but we are not out of the turbulent waters just yet. Hype still reigns supreme. Coins are still pumped and dumped in plain sight, as the recent dogecoin incident has taught us. Many Crypto exchanges continue to inflate trading volumes in a bid to get listed in the top positions on popular rating sites and pave the way to charge users exorbitantly for token listing and IEOs. Sadly reputable rating sites have also become inadvertent enablers of these phony exchanges since they rely on centralized systems that still largely depend on manual collection of data that are easily manipulated. Trust these numbers and ratings at your financial peril. The problem transcends the rating industry. Generally speaking, Centralized systems based on trust are inherently imperfect and continue to struggle with issues relating to transparency, accuracy, and having a single point of failure. This is what gave rise to decentralized models like blockchain technology. Since its advent, the blockchain industry has witnessed rapid growth and development and disrupted many industries along the way, so why not the rating system? This is the mission that Evai has taken upon itself.
Launched in 2019, Evai presents a viable, unbiased approach to rating systems.
Evai has built an ever-evolving decentralized rating ecosystem on the Ethereum blockchain. To further cement its status as soon-to-be industry leaders, the Evai team consisting of diverse and qualified industry experts has also incorporated machine learning and artificial intelligence technology into its rating system. This system will inevitably be heralded as the long-awaited standardized rating system in the Crypto industry. At the heart of the Evai ecosystem is an unbiased rating system called the bridge, which ranks Crypto projects from AAA to C in order of decreasing technical solidity based on 6 individually weighted principles including Liquidity, systematic risk, profitability, momentum, peak to end value demand and investment. The Evai system is fully automated with AI used to determine the most optimal way to combine these embedded factors. AI and Machine learning also present a way for the Evai system to effectively automate data processing, learn from past data, and constantly updated itself. All of these are integrated with the ethereum smart contracts assigned.
Evai provides a fair and unbiased way to interact with the network by creating a governance system that incentivizes and empowers users to participate and influence decisions via a consensus algorithm. You can keep track of your Evai assets using the Evai token wallet now available on Google play store. This is an unprecedented approach to rating systems, and the benefits are endless. First, it presents the opportunity for a standardized decentralized rating system in the Crypto industry that everyone can get behind to rate cryptocurrencies, crypto exchanges, cryptocurrency. This unbiased approach also ensures that no single entity can game the system. Furthermore, it will empower the uninitiated investor and Crypto newbies to make profitable investments by building a portfolio of the best Crypto assets in the market based using the Evai rating system. These are not just empty projections; the Evai team already has a track record of success when it comes to algorithmically traded funds, as evidenced by the funds created and managed by EVAI’s founder to a net profit of 27% under the oversight of the FCA. The same methodology has now been extrapolated to achieve even more beneficial results in the Crypto space. In addition to the benefits mentioned above, this novel rating system is also projected to reduce harmful practices such as pump and dump and inflation of trading volume by exchanges.
Evai is indeed every investor’s dream because it’s based on principles that influence actual investment performance. Many can see the unprecedented potential of Evai tokens: 39 million tokens have already been bought across 3 Tiers of successful funding. Only 20.8 million up for grabs.
For more information about the Evai tokens please visit, Evai.io
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