We wanna improve the competition a bit

Would really value your feedback!

Dear subscribers,

we are thinking about changing our survey competition a bit to make it more rewarding for more users, not just the one single winner.

The ‘one winner’ thing is cool in terms of prestige and bragging rights, but with so many things you need to predict each time, most of them outside everyone’s area of expertise, we feel a different structure might be more beneficial.

So, on this easy Saturday morning, at the start of a three-day weekend where markets are closed on Monday, we would like to ask you - especially those who participate in our competition - to give us your feedback in a very short, 2 minute survey.

First, the idea(s).

We wanna do the following: reward each user with tokens based on how precise they were each week, where the tokens are redeemable for actual cash at the end of the period.

For example, 1 token (BASON token) = 1 US dollar.

The token is granted based on the inverse of your score each week. In the survey, the closer you are to 0, the more precise you are. So in this case, you get 100 - (your weekly score) in tokens.

A score of, say, 14 gives you 86 tokens. Each weekly token allocation is counted towards your cumulative allocation. Being as precise as 10-20 each week means that by the end of a 13 week period you can get over $1,000. Or $4000-$5000 each year.

The benefit is that each person can gain this, for as long as they maintain good and consistent performance over time.

Alternatively, there could be a cap on the total allocation of tokens, say 20,000 of them, and they are distributed to each according to performance. Also, redeemable 1:1 to dollars. This would make the tournament more competitive, if players compete for a fixed distribution of a (very big) pie.

Extensions

(1) This can later perhaps be turned into a crypto coin so that you may exchange it for even greater value on the market. Your skills in generating the predictions are how you “mint” your coins.

This is, for example, similar to how the Numer.ai tournament works.

We don’t have the resources to build a crypto coin yet, but it’s an interesting avenue to explore.

(2) Another extension would be to split the way we award tokens across different indicators we ask you to predict.

This way, if you’re really good at predicting BTC or the S&P500 but are bad at predicting the VIX or the 10YT, you still get a good token allocation over time across each indicator. In that case the value of an individual token is no longer $1, but 15 cents, for example.

What do you think?

Let us know, and feel free to give other suggestions on how we can improve the survey or the competition. We would love to hear what you have to say.

Thank you and enjoy predicting the markets with us!