Our Vision for the Community Token Ecosystem - PurpleTrader
I am excited to share the pre-launch of PurpleTrader — a new platform designed for traders of community tokens.
Firstly, I would like to thank our community of users, investors, and the team that share the same mission of fostering the community token ecosystem and helping us shape our vision for PurpleTrader.
Over the past 18 months, we have seen a plethora of Community Tokens and DAOs platforms emerge to facilitate the issuance of community tokens. We love to see a movement towards more ways to launch community tokens, but what about the traders? In order to bring liquidity and support market growth, traders are a fundamental pillar and need to be better served. So we decided to support the ecosystem through them.
Community tokens like ApeCoin, Friends With Benefits, and Barcelona FC tokens are different from traditional crypto, because they have strong social and utility components. Our research shows that, although traders want to explore this ecosystem, it requires navigating a complex web of crypto-native applications and misleading information. Major crypto exchanges only list a few large-cap social tokens and lack an easy way to evaluate social & utility aspects - which makes traders miss opportunities and make bad decisions. Lastly, the lack of trustworthiness impacts the growth of the whole ecosystem.
At PurpleTrader, we are on a mission to help people build their first web 3 and utility token portfolio with confidence. We are an exchange that understands this market and that puts traders first by making tokens more discoverable and easier to use. We support traders to make balanced and informed decisions using a never-before-seen standardized metric system to balance both social and financial aspects. We also feature curated tokens that can only be found in DeFi platforms and make them faster to discover and easier to assess their reputation.
Community tokens will unleash tremendous value to society over the next decade. In 10 years from now, we envision a world with 1 billion people who will be owning a community token. Although it has been a challenging year for crypto due to the bear market, crypto is more than just about price - and community tokens are there to prove it. This is the best time to foster communities and we will be a catalyzer by providing a compass for traders to navigate safely.
We will do our best to support communities and strengthen the token ecosystem.
Stay tuned for more.
CEO & Co-founder at PurpleTrader
At PurpleTrader, we make discovering and buying community tokens simple.
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