Algorand Standard Asset Verification - Choice Coin

One of the challenges the Choice Coin community has been facing since early August is verifying Choice Coin on the AlgoExplorer and the Algorand Wallet. So, I wanted to create this post to aggregate community information on the asset verification process for others who may face the same issue and to request any help or guidance on the process the community may offer.

To start, ASA verification is an important part of the Algorand ecosystem because it allows the Network to ensure an asset is trustworthy, unique, and valid. Moreover, AlgoExplorer and the Algorand Wallet are great technologies, which provide immense value to the Network as a whole - Choice Coin developers use them both everyday. Rand Labs, which is developing AlgoExplorer, and Algorand LLC, which is building the Algorand Wallet, have done an amazing job creating breakthrough technology.

We are happy and eager to work with the teams building the Algorand Wallet and AlgoExplorer to ensure that Choice Coin meets their standards for asset validation and verification. However, we have had trouble making contact with these teams in a meaningful way to allow the verification process to take place. My hope is that this post will help facilitate Choice Coin verification and be a source of information for the ASA verification process more generally. Thanks in advance for any thoughts, feedback, or suggestions.

For reference, here are some links to Choice Coin resources: Choice Coin White Paper; Choice Coin GitHub; and Choice Coin Website. Additionally, I have included the verification information requested by AlgoExplorer below.

Description Choice Coin is a governance token and open source software for decentralized voting. Another way, Choice Coin is a digital asset used to solve the decentralized governance problem, referring to the complex process by which assets are allocated across decentralized networks. Choice Coin solves the decentralized governance problem by providing a mechanism by which decentralized organizations can vote securely using post-quantum cryptography. Embedded within the Choice Coin architecture is an AI software for ensuring regulatory compliance according to an algorithm for optimality.

Asset ID 297995609

Logo
ChoiceLogo

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Update

Choice Coin was approved on the Algorand Wallet this afternoon. Thanks to our community for the help and support!

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Hi Brian,

Daniel here from Randlabs. We understand your frustration. AlgoExplorer is developing a new automated verification process which will directly address this topic you mention. It should be released soon. Please, be patient.

Daniel.
-Randlabs Team-

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Choice Coin is now verified on AlgoExplorer. Thanks so much to the amazing team at Rand Labs for their help!

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Update

I found a great website for converting .png files to .svg files.

Nice one going true the same stress here, I almost got scammed in Algorand Discord while searchingg and asking for help on how to verify an Algorand asset and this article has helped me to know how to do it, Diging dip as a dev has brought me this far.
The validation/Verification of UPGROW COIN
https://algoexplorer.io/asset/536379213
ASSET ID: 536379213
Website https://site.upgrow-coin.com/ logo

Description: UPGROW $ROW is a community gaming token built on Algorand Blockchain Technology, designed to only grow high.
$ROW is beyond a play to earn gaming project on web3.0, as it has it’s own uniqueness, that is, the spendable currency in the games it’s bringing to the Blockchain.
The interesting part of all, is that $ROW is a community driven gaming project, which means the community can mention their favorite games and $ROW will bring it to the Blockchain.

$ROW community will enjoy the possibility of earning and spending $ROW on everything in the game, buying new characters, new stuffs, unlocking new levels and many more etc.

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I’m writing this post regarding the new asset verification process on Algorand. After months of being verified on the network Choice Coin is no longer verified on Algorand. The new Reputation System for asset verification has two higher levels than Neutral: Notable and Verified.

The problem with these requirements is that they create arbitrary and potentially illegal requirements for assets to become verified. For example, notable status requires assets have reputable investors. However, in many cases, assets may not wish to take on investors - this is particularly important for projects creating utility tokens. Another example is projects that are bootstrapped. There is simply no reason why an asset should have to take on investors to receive notable status. Critically, in many cases digital assets are not investments, but rather products or keys for use.

Secondly, verified status requires projects list on a centralized exchange. This is a problem because many projects, like Choice Coin, have no intention to list on a centralized exchange because they wish to stay decentralized. In many cases, listing on a centralized exchange creates a higher regulatory risk for projects because some centralized exchanges market assets as investments and require institutional contracts for listing. Similar to the requirement that notable projects take on investors, the requirement that verified projects list on a centralized exchange should be removed from the verification process.

Verification should be about validating projects with a valid use case, development team, and products and services. Choice Coin will not pursue verification on Algorand under the new rules because the requirements are against our core mission, interests, and strategy for future growth.

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Hi Brian, i am investor in Choice Coin because I think is a very good asset and the future. I have another tokens in status neutral like $Choice now but they still keep the verified status in Pera Algo Wallet and Tinyman. So what is happening with $Choice? Last month burned a lot a Tokens and in every page that i checked look like the same 1B of CHOICE in total supply and 100% circulating supply. When Choice show the update of the new amount of tokens.

thanks