General FAQ

The Ignite INDEX is an investment vehicle created by Ignite for the purposes of validating Ignite RATINGS and generating incentivisation events for the members of the Ignite HIVE. The INDEX itself is owned by Ignite, but we entrust its management to our community members and we reward them for its successes.

Ignite does not hold or manage any monies on behalf of third parties.

IGNT tokens act as proof of membership of the Ignite community, and permit token holders to participate in the Ignite RATINGS process. As an IGNT holder, you will be eligible to receive a share of any rewards due to the Ignite HIVE, subject to your participation in the ratings process.

IGNT cannot be readily transferred and is not tradable on any exchanges, but it may be converted into IGNX, its tradable sister token, by following the instructions available HERE.

IGNX is the exchange tradable sister token to IGNT. It has no functionality within the Ignite ecosystem and confers none of the benefits that holding IGNT does to the token holder. IGNX may be freely transferred to third parties, or bought and sold on a participating exchange.

IGNX is convertible to IGNT at a fixed rate of 100:1 by following the instructions available HERE.

Absolutely! Our goal has always been to leverage decentralised technologies and swarm theory to disrupt the traditional financial ratings industry. The current interest and momentum in the crypto and ICO space has provided us with the perfect opportunity and environment from within which to develop and perfect the technologies that we have been thinking about for some time already. Once we have done this, we plan to take on the traditional markets in exactly the same way.

All IGNT holders are eligible to participate in, and benefit from, the incentives created by the Ignite ecosystem.

As Ignite is an entirely community-driven product, active participation is required on the part of the community to deploy capital from the Ignite INDEX and realise trading gains.

In addition to income incentives, the Ignite INDEX should also grow in value due to 30% of trading gains, and 100% of any distributions received from its holdings, being reinvested – so the earning power for IGNT holders increases with each profitable trade, as the amount of deployable capital increases.

Due to the buying power of the platform, it is assumed that Ignite will be offered preferential pricing on many upcoming ICOs and STOs, permitting the Ignite INDEX an opportunity to earn significant uplift from trading activity.

Quite a lot, actually! Ignite RATINGS is being built from the ground up to ensure that any meaningful manipulation is not only technically difficult, but also entirely impractical and financially-limiting. The Ignite RATINGS platform is one that is built on trust and peer review – within the Ignite community, an individual’s reputation goes a long way but, similarly, will only take them so far. As in the real world, reputation is earned, not given.

Essentially, we combine certain base functionalities and restrictions of the Ignite user account with the proprietary Ignite REPUTATION ENGINE, which ensures that only those members who are reputationally “eligible” are able to participate in, and influence, the actual ratings process (anyone can contribute to a rating, but their opinions may not be taken into account for the purpose of determining an Ignite RATINGS score if they are not sufficiently reputable). This means that, for a user’s reputation score to grow to the point where they are able to have any meaningful influence on a rating, the user must have previously submitted a considerable amount of high quality content and opinions that has passed the scrutiny of the wider Ignite community.

The Ignite INDEX investment threshold is the point at which an asset is rated highly enough for the Ignite INDEX to deploy capital and take a position in a rated asset. Notionally, this is set at 4 stars, but may be subject to change from time to time.

The answer is very simple… any Ignite community member’s ratings, submissions, contributions, content are subject to the review of any other community member – such that any user’s interaction with the Ignite RATINGS process is, itself, rated by the Ignite community. In this way, Ignite HIVE members are responsible for moderating their own community and the quality of the Ignite HIVE’s ratings. In addition, Ignite HIVE members who continually submit low quality ratings (as assessed by their peers) will detrimentally affect their reputation score, to the point where they are no longer have an impact on ratings. Members with lower reputation scores and/or who are less active on the Ignite RATINGS platform, will also have reduced income potential until such time as they start to submit quality reviews and ratings.

The Ignite REPUTATION ENGINE is core to the Ignite architecture and software solution. It is engineered to determine how much of an influence an Ignite community member’s interactions with the Ignite RATINGS platform should have in the context of an overall Ignite RATINGS score. Simply put, users that post poor quality content are expected to receive low reputational scores from the Ignite community, while users that submit high quality content are expected to receive higher scores. A more reputable user has more influence on both ratings and other users’ reputation.

Watch the below video for further explanation…

No, it is not. Trust and reputation have a very, very key role to play in a truly decentralised ratings solution – which is why we are developing the Ignite REPUTATION ENGINE. That being said, every Ignite community member account is created equal – similarly, equal power lies with each individual member to seek to improve their reputation score in order to add greater weight to the Ignite RATINGS process.

Watch the below video for a demonstration of this in action…

Currently, IGNX (IGNT’s tradable sister token) can be purchased via IDEX (ETH only), and LIQUID (ETH, BTC and QASH). IGNX may be converted to IGNT at a fixed rate of 100:1, by following the instructions available HERE.

Ignite Education – YouTube Latest

Back to School with Ignite - Episode 5: How to add multiple wallets to your account
Back to School with Ignite - Episode 4: How to verify your Ethereum wallet address
Back to School with Ignite: Episode 3 - Reputation Revisited: Reputation, Sway and Asset Ratings