Price Seeker who require valuation for illiquid assets will be able to access our proprietary information and data analytics in two ways.
- 1.Pricing Quest On demand and tailor made valuation request to source specific pricing insight from our Price Expert community. Request can be initiated manually through a web application or programmatically through APIs.
- 2.Hybrid Machine Learning OurMachine Learning models continuously analyze market data to produce baseline price prediction intervals for every NFT. Our algorithms also identify data anomalies that require human experts to collectively opine on through regular Pricing Quests. These Collective Intelligence information are then incorporated back to our models. Price Seekers will be able to access real time valuation through our analytical tools powered by Hybrid Machine Learning. Access fees collected from Price Seekers will fund Prize Pools for these regular Pricing Quests.
In each Pricing Quest, a Price Seeker will identify and/or determine:
- Assets to be priced: This includes name, identity, location, quantity, quality, and other key attributes.
- Price measurement: For example, if an NFT is to be priced on the Premium relative to the Floor Price for NFT; or if an asset is to be evaluated in terms of equity value or enterprise value.
- Value date: For pricing of the asset.
- Submission deadline: Cutoff time that Price Experts are required to submit their encrypted pricing estimates.
- Reward Pool: Bounty denominated in LITH and/or other distributions (such as tokens or items in the NFT collection) that shall be available for distribution to Price Experts providing price insight.
- Minimum Reputation Threshold: Price Seeker may elect to only accept pricing output produced by a group of Price Experts that includes at least a certain number of participants staking RP no less than a minimum threshold it requires.
As a Pricing Quest is posted, the protocol creates a new transaction within the Lithium Finance smart contract on the blockchain that references a content identifier. This identifier then points to content that would eventually be stored on IPFS, comprising of the quest and other relevant background information. Once the creation is completed, Price Experts will be able to start submitting price estimates through the Pricing Mechanism.