Bounties are designed to let anyone crowdsource money, to pay anyone else, to express an on-chain opinion about anything. Bounties will be paid to the recipient in $IMO.

There are several benefits to this:

  1. It creates a track record so that we can see whose opinions were useful in hindsight, and whose were misleading

  2. It puts $IMO in the hands of people whose opinions the public genuinely values, and is literally willing to pay for

  3. When prominent people participate, it increases Ideamarket’s visibility and advances our mission of creating credibility without institutions.

If a bountied opinion is seen as a "bad take," people might unstake from them, or trust them less. They have 2 ways to respond to that threat:

  1. Try to please the public. The problem is, the public often changes its mind, so it would soon appear that the bounty claimer had been wrong on this issue, and that would reduce trust in them and desire for future bounties.

  2. Speak their honest opinion. This might be seen as a bad take in the moment, but the hindsight of history might judge them favorably, and earn them a lot more trust in the future.

Prominent people are already incentivized to be "crowd pleasers" today — the problem is, there’s no accountability system to show who has been telling the truth and who has just been following the crowd. By creating a permanent track record, Ideamarket makes it much more difficult to stay a “crowd pleaser” for a long time, and a lot more rewarding to speak your honest mind.

Last updated