Being interested in stock trading ourselves, we wanted to give people the power to work together and come to a consensus on which stocks to invest in.
What it does
Consensus Trade allows users to post pieces of advice that are action plans on a specific stock. Users in the community can vote on the action plan, approving or disapproving of the move. If the post reaches the approval threshold, the application launches a smart contract to take the funds of everyone who is interested in that specific trade and invest it into that stock using the ETRADE API.
In order to promote cooperation and incentivize smart decision making in the community when people vote, only users who have invested money in Consensus Trade's fund are allowed to post action plans or vote on posts. To promote diversity in the fund's portfolio, only a maximum of 20% of Consensus Trade's fund can be used on one stock investment.
How we built it
We build the frontend using React. We used the Ethereum Network and smart contracts written in solidity to automate the brokering process.
Challenges we ran into
Rapidly prototyping a testing environment for our smart contracts and overall architecture given limited time was a big road block.
Accomplishments that we're proud of
The smart contract was well-implemented for this project and allowed for full automation of the investment process. The UI is also beautiful and easy to use.
What we learned
Smart contract are super versatile and can be used to automate more processes than we originally imagined.
What's next for Consensus Trade
Consensus would be perfect to implement with Q-tum.