Fintech startup SuperNode Community hopes to disrupt the way venture capital funding is being deployed by using blockchain technologies and make it available for not-so-affluent investor.

SNC, also known as SuperNode Community, is a decentralized platform that its founders hope will resolve information inefficiencies and information asymmetry typically found in early-stage funding.

«Some traditional venture capitalists may feel that we are their competitors, but we’re not. SNC offers early access to information and a large pipeline of deal flow,» Bing Lin (pictured above), founder of SNC, told finews.asia in an interview. «What SNC is offering is complementary to what these VCs are doing by helping them do the initial legwork, which can prove to be quite labor intensive.»

Tapping on Past Experience

Lin’s experience as a hedge fund manager has significantly shaped the business model of SNC. In his previous roles, he was involved in shareholder activism and has helped listed companies as a board member and strategic adviser.

«SNC aims to develop a robust and repeatable process for incubating blockchain projects. It leverages on the concept of crowd-wisdom, tapping into the diverse experience of the SuperNodes who each have their own set of frameworks and best practices when it comes to evaluating projects,» said Lin.

SuperNodes

In the decentralized venture capital ecosystem, the community will vote for 21 SuperNodes every month, also known as domain or funding experts, who will then use their expertise to select projects to fund. These 21 SuperNodes can be changed every month based on votes given.

Metrics used by SuperNodes may include factors such as team background, advisors, project viability, and market need. 

Project Winners

The selected blockchain projects will be awarded incubation funding by the SNC foundation, which can be treated as seed capital to fund the initial operations of these startups. 

The funding will come in the form of SNC tokens, where the primary usage will be for staking to vote for the SuperNodes and participating in popularity votes for blockchain projects. The tokens can also be used to pay for services within the ecosystem, such as legal, marketing, and business advisory services.

Using Social Media

While prototypes for the ecosystem are slated for launch at the end of the year, SNC is actively building its community via social channels such as Telegram, Twitter, and Facebook. It currently has a Telegram community of over 22,000 members.

«Once the SNC ecosystem is ready, we will run campaigns to convert these community members into our ecosystem users as well as actively grow our user base,» said Lin.

Initial Goals

SNC targets startups using blockchain technologies, with an aim to fund 50 projects each year. Its business model is unlike some other platforms which asks the whole community to vote on which projects to fund.

«At SNC, the incubation decision is made by the 21 SuperNodes with the relevant incubation expertise and experience,» he said.