Five star rating system for Experts

This post will share a deeper look into the rating system for Auctus experts. As mentioned in previous posts, experts will have a ranking on the platform so that users can see the past and overall performance of any expert’s advice. This ensures transparency and gives users the ability to make an educated decision based on whose advice has merit rather than just blind trust.

The Auctus Ranking System

There are six parameters that go into calculating an expert’s ranking. Each of the parameters carries a different weight or level of importance in regard to an expert’s overall rating. The designated weight for each parameter was given in order of importance for the users and to reward those who not only give good advice, but build and nurture a community.

An image of the beta showing a page where users can see the rating and info of top experts

Average Return: Weight 35%

The average return carries the heaviest weight in the ranking system. When you get right down to it, the platform’s real use is to create monetary return for its users, hence why average return is the majority deciding factor for ranking.

An expert’s average return is the combined results of all signals. The outcome of an expert’s signal, positive or negative, will result in a large portion of the expert’s ranking on the platform. If your signals are good, then you go up, if they’re bad, then you go down in ranking.

Success Rate: Weight 30%

The success rate is the percentage of profitable operations. This is not to be confused with how profitable an expert’s advice is or the above parameter of average return; this is strictly if the result is positive or negative. This will be measured in a percentage, with 0% meaning no signals went according to plan and 100% meaning all were positive.

Success rate ranks almost as high as average return since predicting a high positive success rate means the experts trends tend to be in the green.

Amount of Advice Given: Weight 15%

This will be the average amount of daily advice given by the expert. If you’re only giving one signal and it has high return for one user, that’s not really what the platform’s about. An expert will need to give enough advice to enough users to be competitive.

Number of Followers: Weight 15%

It’s not a secret that followers can increase influence. The average number of daily new followers will also weigh in on an expert’s ranking. Onboarding new users daily will help the platform, expert, and in turn, the community.

Also to combat any malicious activity by onboarding fake users like bots, not only will we require a metamask confirmation but all accounts will have to contain a certain amount of AUC tokens in their wallet.

Experts Last Activity: Weight 4%

The last time the expert used the platform will also weigh in on their ranking. The platform will show the date and time of the expert’s last activity which will contribute to the overall rating. We want our experts to be active and engaging to their followers and help grow the Auctus community. It won’t help to follow an expert who has good signals but only uses the app every few months, so the amount of activity is important.

Number of Assets Advised: Weight 1%

An asset’s overall direction can change quickly, especially in crypto, so it’s best to keep the advice diversified rather than only promoting a small number of assets/projects that have done well for you in the past.

The transparent setup of our ranking system will change the way investors interact with cryptoassets. The blind trust or complete lack of trust in financial advisors/signals from Twitter and Telegram are the reasons why we came up with this system, and we believe it’s going to improve the decentralized space as a whole.

Remember that our Beta is on schedule to be released the last week of September and you can apply to be an expert HERE!