Introducing $IMO — 2/2/2022 The process for creating public knowledge has not changed in centuries:
“an authority manufactures certainty, then enforces it.” Ancient kings and emperors. The church in Galileo’s time. The media and scientific establishment today. They all fit this pattern of manufacturing certainty, and then enforcing it with top-down power.
Ideamarket reframes public knowledge as a risk management problem — not the manufacture and enforcement of certainty by a powerful few, but the honest management of uncertainty by the global public.
Using markets to decide what deserves public credibility makes credibility increasingly expensive to fake. Markets — in short —
“make lying expensive.”Markets also accelerate the distribution of the world’s best knowledge. The world’s best knowledge is already accessible on the internet, but today’s authorities shame and persecute its advocates. Ideamarket aims to make them wealthy and influential instead, and capture the value of obscure genius for all mankind.
Our StoryI’m Mike Elias — a musician, psychology writer, and Ideamarket’s CEO and Founder.
Alexander Schlindwein built the smart contracts from the ground up, and did a spectacular job — they passed Quantstamp audits with minimal friction. (Alex would go on to win 3 of the largest bug bounties in the history of Ethereum.)
We launched V1 in February 2021, attracting over $1 million in deposits and earning coverage in NASDAQ, Vice, Yahoo, and CoinDesk. But high gas fees stunted growth, so we migrated to Arbitrum as quickly as possible.
Mac Dziedziela, our new CTO, led development of Pottermore, the Harry Potter game with over 150 million pageviews per month at its peak.
Now we’re live on Arbitrum, and our community has grown to include thousands of Propheteers across Twitter and Discord. We’re about to launch products anyone can use to change the way the world creates shared truths.
And now, our token is imminent.
$IMOIMO stands for “in my opinion,” which, in my opinion, all human knowledge inevitably is.
$IMO is Ideamarket’s token for governance, which you can use to create and provide feedback on proposals in our Commonwealth.im forum. We will gradually introduce more frameworks for the development and maintenance of the Ideamarket ecosystem, beginning with Snapshot governance and a multisig.
$IMO goes live on Wednesday, 2/2/2022 at 9am PT. The token contract address will be provided at launch.
Roadmap2022 is a huge year for Ideamarket. We’ll be releasing multiple products that help measure the value of the world’s information, including several on $IMO launch day (2/2/2022):
- February 2021— Mainnet Launch
- May 2021 — Browser Extension Launch
- October 2021 — Arbitrum Migration
- December 2021 — Wikipedia Market
- January 2022 — Minds.com Integration
- February 2022 - Token Launch & Ghost Market Launch
- March 2022 — URL Market (Any link on the internet can be an Ideamarket listing)
- May 2022 — Blockchain of Opinions
- July 2022 — Hyperfeed (A market-curated feed of internet content)
- October 2022 — Prediction Markets, Index Funds, etc.
Distribution, Airdrops, and Rewards- Early investors — 10%
- Team (present & future) — 18%
- Strategic partnerships — 10%
- Retroactive Airdrop — 5%
- Ecosystem & Treasury — 25%
- Community rewards — 32%
- Listing Token staking — 10%
- $IMO staking — 5%
- LP rewards — 4%
- Future rewards programs: 13%
All $IMO allocated to Ideamarket team members are subject to a 2-year vesting schedule — a 1-year lockup, plus a 1-year linear unlock. 85% of investor tokens are subject to the same schedule, with 15% unlocked immediately to provide liquidity on Uniswap.
With $IMO comes a retroactive
airdrop and
THREE rewards programs.Retroactive AirdropWe’ve reserved 5 million $IMO (5%) to reward our early users with an airdrop. If you used Ideamarket before midnight on January 16, you should be eligible. Eligible users were given a point score based on whether you performed these actions:
- Listing
- Buying
- Locking
- Verifying
If you used Ideamarket before our Arbitrum launch, your score is doubled!
Rewards Listing staking rewards- We’re distributing 10 million $IMO over the next 3 months to users who buy listing tokens on the URL market and lock them. You can lock listing tokens for either 1 month or 3 months. The 3-month lock will increase your rewards by 25%. Staking rewards will be distributed monthly.
IMO staking rewards- We’re distributing 5 million $IMO over the next 6 months to users who stake $IMO tokens.
Uniswap liquidity provider rewards- 4 million $IMO distributed over 12 months to Uniswap LPs on the ETH-IMO pair
The URL marketIdeamarket V1.5 is a simple, universal primitive: a market where any URL can be listed on-chain and traded.
If Uniswap is “where you put ERC20s to make them tradeable,” Ideamarket is “where you put URLs to make them market-curateable.”
We can then categorize links by platform (Twitter, YouTube, etc.) off-chain in the front end, using subgraph data.
This drastically streamlines Ideamarket’s approach to curating the internet.
Given most websites and URLs aren’t designed to be immutable, we expect successful listings will gradually trend toward more permanent content types, like Waybackmachine, IPFS, Arweave, ENS Domains, Mirror blogs, and so on. The URL market is designed to let these trends evolve naturally, based on market preference.
Ghost MarketThe Ghost Market is a web2 layer of Ideamarket. Anyone can create a listing for free, and cast free upvotes. The ghost market provides a free signal about what the public finds important, which the crypto-savvy can convert into an on-chain listing and trade.
User AccountsOne of the major critiques of Ideamarket V1 was that having different markets for each platform made it unclear where to invest in a creator’s online identity. (“Elon Musk has a Twitter account, but what if he joins some new social platform?”)
That’s why in V1.5, we’re launching
Ideamarket User Accounts — one identity, native to Ideamarket, which you can connect to other social accounts so people can find all your work.
We will soon launch
a market for Ideamarket User Accounts — this is
the place to invest in a creator’s identity on Ideamarket. (If you bought a Twitter listing expecting it to serve this purpose, we’ll provide a way for you to bridge your holdings into Ideamarket User Accounts later this year.)
Interest distributionAll listings with deposits in them automatically generate interest through lending protocols.
Interest distribution is paused until more DAI lending protocols become available on Arbitrum (such as Yearn). Once it resumes, interest generated by deposits on the URL market will be sent to the Ideamarket Treasury. This strengthens the ecosystem, while allowing the community to decide whether to allocate interest differently in the future.
Interest from deposits on the User Account market will go to the account owner.Where all this is going: The Blockchain of OpinionsThe above two markets allow the public to curate:
- The world’s most important URLs
- The world’s most trusted voices
The blockchain of opinions ties it all together.
For every URL on the URL market (and soon text posts), users will be invited to signal their agreement on a scale of 0 to 100. This pressures public figures to provide a clear opinion on the issues the market decides are most important. The choices are effectively “yes” and “no,” leaving no room for an orgy of euphemism.
By creating an immutable track record of personal judgments, we can distinguish leadership and foresight from propaganda and status mongering.
- Who was early?
- Who was right?
Everyone will know, forever.
Auditable public narrativesThe intersection of
- the world’s most trusted voices, and
- their most confident opinions, on
- the most important issues
creates a publicly auditable consensus mechanism for public knowledge and other mass-subjective judgments.
If the public doesn’t like the current state of “consensus reality,” it has two paths to changing it — replace the top-ranked people, or replace the top-ranked URLs the market pressures them to evaluate.
BountiesUsers will be able to create and crowdsource bounties to solicit on-chain opinions by prominent people. For example:
Offer [Joe Rogan] $40,000 to rate [URL or text post] on-chain, on a scale of 1-100.
Bounties will be paid in $IMO.
FilteringUsers will be able to search and filter Ideamarket users: “Show me only users who expressed over 90% confidence in [URL about how COVID leaked from a lab] before [date].”
Or by judgments on any other issue, at any other time since launch.
With filtering and bounties, the Blockchain of Opinions allows you to press society’s leaders through a gauntlet of your own design, and to discover obscure geniuses who were right before everyone else.
The Blockchain of Opinions launches Q1 2022.
Set an alarm for launch day, and BUY on the RIGHT SIDE OF HISTORY.LinksDocs:
https://docs.ideamarket.io/Website:
ideamarket.ioTwitter:
https://twitter.com/ideamarket_ioDiscord:
https://discord.gg/kC6tPz5MUmReddit:
https://www.reddit.com/r/ideamarket/Newsletter:
https://ideamarkets.substack.com/Ideamarket Podcast:
https://www.youtube.com/channel/UCZRFb695b8pVWErrDPKO8AgTwitter Thread on Token Announcement:
https://twitter.com/ideamarket_io/status/1483205016949252097?s=20
