Introduction
Credibility without institutions
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Credibility without institutions
Last updated
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In the same way Bitcoin created money that doesn’t rely on legacy finance, Ideamarket builds credibility for information without relying on institutions like legacy media, academia, or governments.
Make money arguing on the internet. Rate posts to express agreement or disagreement. The more your posts get rated, the more you earn.
Legitimize disruptive ideas in the time it takes a tweet to go viral. Crowdsource ratings on an Ideamarket post to show the world what top minds really believe about disruptive topics.
Proof of thought-leadership. Imagine querying the on-chain record of opinions — “Who rated [IMPORTANT THING] above [90% CONFIDENCE] at [EARLY TIME]?” Will you be on that list?
Here’s the 1-minute onboarding guide.
Create a new post for 0.001 ETH (~$1.30), paid to Ideamarket treasury
Rate a post for 0.001 ETH (~$1.30), paid to the Post Owner (author by default). If you make 1 post and 2+ users rate it, you’re in profit. If you sell a post to someone else, they earn the rating fees as long as they own it. NOTE: MetaMask estimates gas fees way too high. Ignore when it says $20, real gas is more like $0.20.
In the same way Bitcoin and Ethereum are financial infrastructure that doesn’t rely on legacy finance, Ideamarket builds credibility infrastructure without relying on legacy media or academia.
How it works:
The opinions of 100 people you trust, will soon outweigh the opinion of 1 institution you don’t trust. Instead of waiting 18 months for CNN to say [x is true], you’ll be able to point to an on-chain list of friends or influencers who give [Post: "x is true"] a high rating within days, or even hours. And as a friend put it, individuals are harder to capture than institutions.
Feedback loop between “who you trust” and “what they said when it counted.” On-chain ratings make it easy to see who was insightful and who was just following trends. Imagine querying the on-chain record of opinions — “Who rated [IMPORTANT THING] above [90% CONFIDENCE] at [EARLY TIME]?” Every important matter of subjective judgment becomes a filter for the thought leaders of tomorrow.
Infinite analytics layer. Since posts and ratings are on-chain, you can filter personal opinions by any on-chain characteristic.
What do [BoredApe NFT holders] believe most strongly?
What do holders of [BoredApe NFTs] and [Milady NFTs] most agree on?
What do [Farcaster users] believe most strongly?
What do users who have [over 5 ETH] in their wallets and also used [Uniswap] before [2019] and also rated [Post: “Joe Biden is a hologram”] above [90] most strongly believe?
It could even be a dating app: Which users who rated [I am single and female] above [90] most closely agree with me?
Persuasion markets. Ideamarket data can be used to settle prediction markets about matters of opinion:
Will [ScienceDAO holders] collectively rate [Post: “Ivermectin prevents COVID”] above [90%] by [January 1, 2024]?
Will [Farcaster users] collectively rate [Post: “God exists”] above [90%] by [January 1, 2024]?
Will users who rated [Post: "COVID is coming to the United States"] above [90] before [February 1, 2020] collectively rate [Post: “Tether is a scam”] above [90%] by [January 1, 2024]?
etc
Check out the integrations we're working on here:
Integrations & Partnerships — To get added to this list, DM me on Twitter.
For even more, see "Use Cases" section in the Table of Contents of these docs, especially these 3:
Again: It’s incredibly easy to get started, even if you’ve never used Arbitrum before. Here’s the 1-minute Easy Start Guide.
Imagine the possibilities:
New ways of organizing the world’s knowledge (news that’s expensive to fake, marketized Wikipedia, prediction markets for public opinion, etc.)
New income streams for independent researchers (journalists, decentralized science, etc.)
Breakthroughs in precision audience targeting (for airdrops or ads — payments go to users, not centralized entities)
Breakthroughs in social networking (enables new social groups to spontaneously form without re-starting network effects)
With less than 100 daily users, 10+ users made $50+ the first few days after launch (Sept 1 2022). We’re now running a token rewards promo to encourage ratings.
You can stake or unstake $IMO on any user at any time, and there’s no risk of loss. Posts on the homepage are sorted by “amount of $IMO staked on all users who rated each post." To boost the visibility of your posts:
Stake $IMO on yourself and then rate your own posts — OR —
Get top users on the Leaderboard to rate your posts (hopefully by being interesting, not harassing them on Twitter)
You can spend ETH to stake, and we’ll convert it to $IMO for you in our contracts. You can also buy $IMO on SushiSwap (Arbitrum) and then stake $IMO directly.
New to Arbitrum? Get started in 1 minute.
I’m Mike Elias — a musician and psychology writer, and Ideamarket’s founder.
Alexander Schlindwein built the initial smart contracts, and they passed Quantstamp audits extremely smoothly. (Alex would go on to win 3 of the largest bug bounties in the history of Ethereum — ArmorFi, FEI, and BELT)
Kelton Madden took over as Lead Smart Contract Developer in 2021. Kelton previously wrote the smart contracts for other famous NFT projects, and holds a Master's Degree in Quantum Computing from UPenn.
Ideamarket launched V1 in February 2021, attracting over $1 million in deposits and earning coverage in NASDAQ and Vice, among others. But high gas fees stunted growth, so we migrated to Arbitrum and became one of its first live dapps.
Our community has grown to include thousands of Propheteers across Twitter and Discord. We're constantly launching primitives and experiments to change the way the world creates shared truths.
To see the FAQs, smart contract audit reports, philosophy details and more, open the table of contents in the left panel.
The Docs table of contents looks like this on mobile:
