Covey is Live on Polygon to Provide More Unrivaled Trade Transparency

Covey will utilize Polygon main net to post analysts ideas, allowing anyone to own their investing track record.

At Covey, analysts are measured by their track record, not where they went to school or what bank they worked at. A great track record means a great analyst. However, establishing trust in track records is not easy. Historically we required auditors to evaluate and confirm track records.

With Polygon, that changes today. Now anyone can trust any analyst track record regardless of who they are. Covey is posting analyst idea data on the Polygon main net. Did you go long Energy stocks in early 2022? We have immutable proof of that trade to share with potential investors or employers. Further, this first ever community-owned investing idea database can be used to build new strategies or allow retail investors to copy the best analyst.

Covey is an investment community, open to all, powered by the smartest analysts in the world. Covey will find and reward the best analyst, for any investor to copy, generating higher wealth for more. By integrating with Polygon, we are changing today’s investing model from exclusive and stale to transparent and peer-powered. Every trade is recorded on the Polygon blockchain for anyone to view. This transparency creates an unrivaled level of trust for Covey users.

Before Covey, a trusted track record was only available to institutional investors with a team of accountants. The Polygon blockchain gives any retail investor the ability to develop a track record that can be trusted and leveraged for benefits like payouts and job opportunities.

To participate, all users need is an email and investment ideas. Build your track record today at covey.io/

The Data

To see the anonymous track records check out our smart contract live on Polygon main net now: https://polygonscan.com/address/0x587ec5a7a3f2de881b15776bc7aad97aa44862be

Pick any transaction, then click the purple link “Click to See More”, then you can translate the contract code in the “Input Data” section to “UTF-8” and you will see the string of trade data stored in the Covey contract on Polygon.

You can also access using python from our covey-sdk here:
https://pypi.org/project/covey-sdk/ 

What’s Next

Having an account for each user to post trades in the format of {ticker : percent} has amazing potential. We can allocate capital to analysts based on merit. Thanks to Polygon, our analyst idea data is stored on an open ledger, completely transparent to our community and accessible to anyone looking to build better investment products. To start, quant funds or researchers can test these ideas. Anyone, really, could monetize their investment strategy without sharing how they did it.

Further, based on our member-governed Alpha Algorithm, analysts rise through the ranks of our virtual investment community using our tools and network to sharpen and share their ideas — risk free.

Soon, the top 10% of analysts will earn the option to become an investment manager on Covey’s Copy Trading app (launching 2023), offering unlimited earning potential as independent investors invest alongside them.

These independent investors benefit from being able to access and copy the ideas of the best investment managers — matching their portfolio, and ultimately, their performance.

About Polygon

Polygon is the leading blockchain development platform, offering scalable, affordable, secure and sustainable blockchains for Web3. Its growing suite of products offers developers easy access to major scaling solutions including L2 (ZK Rollups and Optimistic Rollups), sidechains, hybrid, stand-alone and enterprise chains, and data availability. Polygon’s scaling solutions have seen widespread adoption with 37,000+ decentralized applications hosted, 1.6B+ total transactions processed, 142M+ unique user addresses, and $5B+ in assets secured. Polygon is carbon neutral with the goal of leading the Web3 ecosystem in becoming carbon negative.

If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your dApp, get started here.

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About Covey

We search the world, spend millions of dollars, and rely on data to find the best athletes. So why do we only look to the Ivy League and investment banks to find the best investment managers?

Covey is designed to find, reward, and train the next top investment managers — from any background — that anyone can copy, so everyone can win. Get started here.

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