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$IMO token

$IMO stands for "in my opinion" because opinions are all we have.
Staking $IMO on a user gives them curation power, for both post quality and importance. You can unstake at any time, and there’s no risk of loss.
The more $IMO staked on your profile…
  • the more a post’s visibility increases after you rate it (the posts on the homepage are sorted by “amount of $IMO staked on all users who rated this post”)
  • the more your ratings affect the Confidence Rating of each post (the colorful % number in the corner of each post) [UPDATE 8/31/22: We are currently displaying Average Rating instead of confidence rating, so that new users can have the excitement of affecting every post they rate. Once Sybil attacks become an issue, we'll switch to Confidence Rating to make Sybil attacks expensive.]
We might not always do things this way, but it’s how things are starting out.
IMPORTANT: You can spend ETH to stake, and we’ll convert it to $IMO in our smart contracts. You can also stake $IMO directly. Buy $IMO on SushiSwap (Arbitrum).
$IMO stands for "in my opinion" because opinions are all we have.

Upcoming features

$IMO will also be used to pay for upcoming features such as bounties, which will put $IMO in the hands of people whose opinions the public genuinely values.

Governance

Users can create, rate, and cite Posts in the IMO-Governance category of our web app to influence Ideamarket's future. We will gradually introduce more governance features into the Ideamarket ecosystem, beginning with Snapshot governance.

Initial distribution

  • Early investors — 10%
  • Team (present & future) — 18%
  • Strategic partnerships — 10%
  • Retroactive Airdrop — 5%
  • Ecosystem & Treasury — 25%
  • Community rewards — 32%
    • Listing Token staking — 5%
    • $IMO staking — 3%
    • Sushiswap LP rewards — 5%
    • Future rewards programs: 13%
    • Community airdrops — 4%
    • Verification rewards — 2%
85% of investor tokens are subject to a 2-year vesting schedule — a 1-year lockup beginning on 2/2/2022, plus a 1-year linear unlock. The remaining 15% of $IMO is unlocked on 2/2/2022 to provide liquidity on Sushiswap.
All $IMO allocated to Ideamarket team members are subject to a vesting schedule at least as long.

FAQ

"Couldn't you just buy a bunch of $IMO and spam the homepage?"
In theory we suppose you could, but:
  1. 1.
    You’d have to have more $IMO staked on you than most other users combined, or their collective ratings would push different posts above yours.
  2. 2.
    If you do buy enough $IMO to spam the homepage, you’d want the value of $IMO to go up, and the way that happens is if the best posts are at the top so that more people rate, more post owners make money, and more new people join and participate. Spamming the homepage would only hurt you.